Post
Topic
Board Economics
Re: How much are you willing to pay in fees for a Bitcoin transaction?
by
X-ray
on 17/02/2017, 11:55:01 UTC
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 vote for max $0.1 USD fee in every transaction, I consider more than $0.1 will cause most people assume bitcoin fee too expensive if we want to spend bitcoin in daily basis, we can't expect more adopters or merchants to accept bitcoin payment on this situation.
The solution for unconfirmed transaction is increase block size instead of increase the fee for everyone.
But every time it can get deprioritizing because of the spam transaction or the high traffic of the bitcoin network. But I think the increase of the bitcoin block can't encourage all of the transaction. with an assumption every day there are few person joining with bitcoin.