Ninjastic
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Board Bitcoin Discussion
Re: Do you think the transaction fee will kill bitcoin?
by
The_Dark_Knight
on 18/03/2017, 08:36:22 UTC
Quote from: cpfreeplz on March 17, 2017, 01:35:07 AM
Quote from: The_Dark_Knight on March 17, 2017, 01:30:40 AM
Quote from: Anarchist on March 12, 2017, 12:01:26 PM
I don't think the fees are going to "kill" bitcoin. But in the long run, making bitcoin less used as of today, yes for sure
The problem with high fees is that eventually the fees can be so high that the amount of bitcoin that you have in your wallet is enough to pay for the transaction in itself, this is happening with faucets but it may happen also to all of those that make microtransactions in bitcoin.

Then don't use faucets... they're just time wasters anyway. I don't know about you but I'm worth a hell of a lot for then 10 cents an hour thank you very much. Spending one input right now is about 30 cents if it's low-medium priority (so it confirms within a few hours). That's not a huge amount of you're dealing with decent sized (in terms of monetary value) inputs.
I don’t use faucets I was using faucets as an example of what will happen to other transactions if the fees keep getting higher without control, the fees could get so high that the balance on your wallet will not be enough to pay for it, that was what I was referring.