Post
Topic
Board Bitcoin Discussion
Re: The welfare costs of Bitcoin
by
Khaos77
on 14/11/2019, 02:49:31 UTC
ZAP!


Miners don't set fees! Miners are not charging you a fee!
Get the basics right before starting a debate.


Most of the nonsense you sprouted, I will assume you are having a stroke, so mindless ramblings understandable.  Tongue
Seek Medical Care before your condition worsens.  Roll Eyes

However, as far as basics go:

https://en.bitcoin.it/wiki/Miner_fees
Quote
Miner fees are a fee that spenders may include in any Bitcoin on-chain transaction. The fee may be collected by the miner who includes the transaction in a block.

https://support.bitpay.com/hc/en-us/articles/115003393863-What-are-bitcoin-miner-fees-Why-are-miner-fees-so-high-
Quote
Miners use the miner fees attached to transactions to decide which transactions to confirm first.
A sufficient miner fee makes it more likely that your transaction will confirm in a short period of time.
If you use a low miner fee (or no fee at all), your transaction may take days or even weeks to confirm.
The bitcoin network may even reject your transaction altogether and return the funds to your wallet.

Send a bitcoin transaction with zero transaction fees and see how many miners ignore you.
So the miners do set the fees at which they will include transactions in a block, are you sure you know anything about bitcoin?
https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m

FYI:  https://www.cryptopolitan.com/bitcoin-transaction-fees-has-been-the-highest-in-2019/
Quote
in late 2017 and early 2018 when the price of Bitcoin was the highest.
The cost was so high that the average trade cost was around thirty-seven dollars ($37).