I just checked on https://tradeblock.com/bitcoin the bitcoin fees. On average, each transactions has 0.0001 or 0.0002 fees (4 cents). IMO, this is too costly, not sustainable and not competitive enough with existing fiat payment systems.
Transaction fees on BTC are too high for it to be useful in payments, and the blocks are too full for reliable confirmations. These are facts. But according to BTC maxis, [@Bitcoin is] a scammer and a villain and a fraud for pointing these facts out.
Warning: Ledger will not broadcast BCH transactions with a fee of less than 10 sat/byte. Ledger - that is absurd and must be fixed. I now have to go through the headache of signing the tx myself. You should have a warning or something there. The default fees for Bitcoin Cash are way too high.
My friends and I want to start regularly paying each other in crypto. About a half a year ago we used Bitcoin for a little. But the transaction fees are too high. What currency would you recommend?
Right now I have two important attributes to a currency that would be a catalyst for us to begin using it:
The fees should be low, it should be a negligible fee because we will mostly be using micro transactions. So far these are my candidates in this department:
DASH Now I understand Ether really isn't technically supposed to be used as a currency, but c'mon, it's worth something and all we really need is something that has value that we can pay each other in. Plus the transaction fees and processing times are attractive.
Usability and convenience
This is an experiment between my closest friends, we are trying to promote crypto adoption. Some of us are quite well versed in the crypto-sphere, but others are technologically illiterate. We need a currency with a reliable and well made phone wallet/app. Now this is something I'm not as familiar with. I know DASH has a wallet app but I am unsure of other options. Honestly, whichever currency has the best option for mobile payments will be the one we go for. Anyway, thanks for the help!
[uncensored-r/Bitcoin] Shortage for a transaction , TAX FEE is too high
The following post by akyzyt is being replicated because the post has been silently greylisted. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7h3u1y The original post's content was as follows:
More like Bitcon. High fees, low tx speed, Thethers, planned off-chain transactions with Paypal and Mastercard working as middle man, remind me again why do we need Bitcoin Core? Store of value? Really? I have 5 peanuts in my hand. They can store value too. Let me give you a peanut.
08-15 16:32 - 'People can correct me if I'm wrong, as I'm a bit of a newb as well. But, I believe $25 isn't high enough to consider transferring your Bitcoin to a personal wallet. There are transaction fee's involved too. Enable phone verif...' by /u/ARG_Bitcoin removed from /r/Bitcoin within 0-3min
''' People can correct me if I'm wrong, as I'm a bit of a newb as well. But, I believe $25 isn't high enough to consider transferring your Bitcoin to a personal wallet. There are transaction fee's involved too. Enable phone verification at Coinbase and you should be fine. ''' Context Link Go1dfish undelete link unreddit undelete link Author: ARG_Bitcoin
More like Bitcon. High fees, low tx speed, Thethers, planned off-chain transactions with Paypal and Mastercard working as middle man, remind me again why do we need Bitcoin Core? Store of value? Really? I have 5 peanuts in my hand. They can store value too. Let me give you a peanut. /r/btc
[uncensored-r/Bitcoin] When those transaction fees get too high
The following post by elburgher is being replicated because the post has been silently greylisted. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7ifjz8 The original post's content was as follows:
For high-speed bitcoin transfers and exchanges, each transaction requires a blockchain fee. The fee is usually low, however sometimes higher fees are needed to complete your transfer or exchange. This article will explain why this happens and how you can avoid high blockchain fees. Q. Why is the blockchain fee so highA. How High/Low to Set a Bitcoin Transaction Fee. Have you ever wondered why your transaction fee was the rate it was the last time you engaged in a Bitcoin transaction or what these fees are for? They are not your typical fees which are given to the CEO’s of the corporation as you may be used to, but they are actually an important mechanism in the Bitcoin ecosystem. These transaction fees are ... Paying a fee that's too high is unnecessary, as it doesn't carry any additional benefit. But paying too small a fee means your transaction won't go through fast, or at all. Starting in late April, Bitcoin saw a spike in transaction fees. This trend continued into May and, at the time of press, average Bitcoin transaction fees are around $2.76. The last time fees were this high was in July 2019. You might recall that during this time, BTC blasted past the $10,000 price point and went as high as $13,200. The minimum transaction fee a transaction must pay (if it isn’t a high-priority transaction) for a full node to relay that transaction to other nodes. There is no one minimum relay fee—each node chooses its own policy. (the minimum relay fee is a policy setting that filters out transactions with too-low transaction fees)
MASSIVE $633,535,330 BITCOIN TRANSACTION! Guess The FEE? BTC Outperforms STOCKS!
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