Re: How much are you willing to pay in fees for a Bitcoin transaction?

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Based on the recent overloaded blockchain, I have found that I am willing to pay more than before. Especially if my transaction is “important” (and most are).

When the number of unconfirmeds at blockchain.info was running over 50,000 – 60,000 I paid about $1.50 (simple uncomplicated trx), and it took over an hour to confirm. Watch & wait, not my idea of productive use of time. In a trx or two later, I upped it to about $2.00, but one of them used three of my addresses as outgoing, and that one took over an hour as well.

It looks like the era of low fees is over.

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xypos

This poll came as an idea from a news post: Almost $1 Billion Worth of Bitcoins Stuck in Transaction Backlog – link here: https://bitcointalk.org/index.php?topic=1777803.0

How much are you willing to pay on daily basis in fees for a bitcoin transaction that is cleared within 10 minutes? (1 block)

I hid the poll results until you voted so it’s not biased – I’m really curious about this one – I ruled out “free” as I don’t think it’s possible anymore – no matter how big the block size is. Also I don’t think anyone is willing to accept fees over $10 – it will be more expensive than the bank fees, so I made it 10+ USD.

Please vote and explain below why you voted the way you voted.

Thank you.

I voted 0.1 USD or less because i believe that bitcoin’s only advantage against other money transmitters is its anonymity, it’s global usage(currency without borders) and also the fees are low.

If you take away the amazingly low fees, then people are just going to use Paypal.

Fee is really high right now, and for someone in a poor country like India, right now sending a transaction could set them back on lunch or breakfast. 50 cents to a dollar might not be much for us, but it is a lot for many people in other countries.

(Why?)

Published at Wed, 22 Mar 2017 11:06:25 +0000

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By CashlessWay – Global Hub for ePayment Culture on 2014-06-28 09:38:56

Re: How much are you willing to pay in fees for a Bitcoin transaction?

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