Post
Topic
Board Beginners & Help
Re: BTC Transaction fee of 0.01 for a 0.02 Send?
by
djproject
on 13/06/2011, 21:49:43 UTC
One thing's for sure.  I am not going to begin offering anything for bitcoin until the fees are fixed.  It would discredit me because the way it is set up right now is so unprofessional.  I have written before about fees and I'll recap real quick:

* The previous system was awesome, where users could optionally add a fee, and there was a notice about how if you don't pay the fee, you'll have low priority.

* Fees do not prevent an attacker from spamming.  A determined attacker will simply use a different client.  By putting this ineffective measure in the official client, we only punish legitimate users.

* Fees of any size are extremely chilling to micro-transactions.  This defeats one of the huge selling points of bitcoin.  Changing from .01 to .005 or .0001 is just a bandaid fix and doesn't truly address this issue.

* Fees act as an unfair tax on people who use the default client.  We are essentially punishing people for using the frontpage client from bitcoin.org!

* Fees prevent people from "test driving" bitcoins when they first get them.  Many users' very first experience with a real live bitcoin is a scary popup message with a draconian fee rule.

I strongly urge the developers to release an emergency update to the client to remove fees and return to the old optional fee input box.