Post
Topic
Board Bitcoin Discussion
Re: It costs $0.09 cents to send $0.24 cents of Bitcoin? Really?
by
zedicus
on 19/08/2014, 23:01:50 UTC
Yes its the dumb ass like you dont understand the economic of bitcoin infrastructure. You can send btc with any amount as a fee. But that tx will not be confirmed for a very long time.

I know how Bitcoin works.  Im making a point.  I am able to send up to $5,000 completely free of charge from one Chase bank account to another persons Chase bank account, instantly.  With no miner fees or waiting time either.

What a dumbass I am.  And now you see another reason why consumers have zero incentive to use Bitcoin.  Because dumbasses like you think this is a "dumbass" thing to take issue with.   Rather than addressing it as a real issue for future consumer adoption.  Which it is.

-B-
You can also send that $0.24 with no tx fee or for that matter $0.005 if you wanted.  If the app that you are using doesn't allow you to change it, that is not a problem with the block chain rath with the app you are using.
The OP was using coinbase to send his TX and they "choose" how much of a fee to include for you. They will usually include a TX fee that will more or less ensure the TX will get confirmed in the next block. IIRC coinbase will usually/sometimes cover the TX fee when sending from coinbase but I am unsure what their exact policy on this is.