Post
Topic
Board Bitcoin Discussion
Re: Bitcoin will die soon if happen with every Bitcoin users?
by
deisik
on 12/01/2017, 17:13:51 UTC
Ok my transaction stucked because I payed low fees at the time of transaction it was 0.08 USD worth Bitcoin just  0.02 USD less in 0.1 USD so that doesn't mean that my transaction should not be processed.
On the contrary, that's exactly what it means. If your transaction fee is even slightly less than the cost of including your transaction in a block, miners have absolutely no incentive to do so, and your transaction will probably never be confirmed. That it why it is so important to pay the correct fee

Then users won't have incentive to transact

In fact, this is a tricky question. Ultimately, miners are more dependent on Bitcoin users than Bitcoin users on them, so they should have more incentive to include transactions than reject them. After all, it will take just one transaction to send your Bitcoin stash to an exchange, convert it to fiat and forget about bitcoins for good. On the other hand though, if miners include all transactions (with or without fees), users will be incentivized to pay no fees at all. And when the mining reward is halved down to next to nothing, miners would be starved to death (if they don't force the fees)