The Complete Guide to Bitcoin Fees & Pending Transactions

AllTheBitcoins: For Bitcoins, forks and orphans

Welcome to AllTheBitcoins: The subreddit appealing to supporters of all the competing implementations and forks of Bitcoin. You are welcome here no matter who you side with or which chain you consider to be the proper Bitcoin design.
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Mining Bitcoin

Bitcoin mining is analogous to the mining of gold, but its digital form. The process involves specialized computers solving algorithmic equations or hash functions. These problems help miners to confirm blocks of transactions held within the network. Bitcoin mining provides a reward for miners by paying out in Bitcoin in turn the miners confirm transactions on the blockchain. Miners introduce new Bitcoin into the network and also secure the system with transaction confirmation.
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MiningPoolHub

This sub is strictly focused on mining on the MiningPoolHub service.
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Video: What Are Bitcoin Transaction Fees? Can I Change Them?

Video: What Are Bitcoin Transaction Fees? Can I Change Them? submitted by bitnewsbot to bitnewsbot [link] [comments]

What are Bitcoin transaction fees? Can I change them?

What are Bitcoin transaction fees? Can I change them? submitted by CoinBriefBot to CoinBrief [link] [comments]

What are Bitcoin Transaction Fees? The stress test, fees for security, new service opportunities.

submitted by dsterry to Bitcoin [link] [comments]

05-15 05:44 - 'Then why not 0.5? What is not arbitrary about 1? I get that there are tradeoffs, but how do you know 1 is the right balance? Fees are currently trending upwards. The last bull run caused huge transaction backlogs and crazy fees...' by /u/yrral86 removed from /r/Bitcoin within 9-19min

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Then why not 0.5? What is not arbitrary about 1? I get that there are tradeoffs, but how do you know 1 is the right balance? Fees are currently trending upwards. The last bull run caused huge transaction backlogs and crazy fees. That brought the bull run to an end. What is different this time? Doesn't capping the size below the optimal point cap utility and thus price?
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submitted by removalbot to removalbot [link] [comments]

04-25 13:25 - 'What are the costs of Nano being fee-less? Wouldn't a merchant want to use a currency with zero transaction fees?' by /u/IAmMiguelChanel removed from /r/Bitcoin within 352-362min

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What are the costs of Nano being fee-less? Wouldn't a merchant want to use a currency with zero transaction fees?
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submitted by removalbot to removalbot [link] [comments]

What will miners do if all Bitcoin is mined and transaction fees are very low?

Eventually in over 100 years all Bitcoin will be mined. If transaction fees end up being low, what exactly will miners do? Since there's no bitcoin left to mine, and the fees are low, the reward for mining will be very low. What will miners do? EDIT: Never mind, I think even 1 satoshi fees might be fine if everyone uses it.
submitted by shinyspirtomb to Bitcoin [link] [comments]

[SERIOUS] Let's say in the future there are 5 major players in the Bitcoin mining industry, controlling 95% of the total mining power. What would prevent them from creating a mining cartel to drive up transaction fees for their own benefit?

submitted by OdoBanks to Bitcoin [link] [comments]

Security of the bitcoin network is funded by the reward miners get: Transaction fees + subsidy. Over time the subsidy drops to 0 and we are left with just fees. If you limit the block size to 1mb you limit miner reward to what fees can fit in 1MB of space. You limit the security of the network.

I've posted this before and was criticized because it was claimed this was a future problem. Actually, the block reward goes pretty low pretty fast. Already 80% of coins are already mined. This is a future problem, but guess what? So are cores hypothetical centralization problems that are supremely trumped by this problem.
Cores hypothetical in the future problem is that miners will geographically centralize because the latency of relaying large blocks will result in close miners having an advantage. The relay network which allows blocks to transmit without latency issues shouldn't count according to core because it is not "decentralized".
The other part of their "decentralization" argument is that we need to all run full nodes to make transactions, but then fail to give an example of anyone being defrauded by an SPV wallet. They then give statistics for how full nodes are dropping (without factoring in that the original bitcoin wallets were all full nodes which skews the statistics)
submitted by specialenmity to btc [link] [comments]

Gavin Andresen - Feb 2013: I think we should put users first. What do users want? They want low transaction fees and fast confirmations. Lets design for that case, because THE USERS are who ultimately give Bitcoin value.

Gavin Andresen - Feb 2013: I think we should put users first. What do users want? They want low transaction fees and fast confirmations. Lets design for that case, because THE USERS are who ultimately give Bitcoin value. submitted by 2ndEntropy to btc [link] [comments]

Nobody uses bitcoin for transactions today, but what if we designed a cryptocurrency that works like the Internet? With Intercoin, instead of all transactions in the world passing through the same block, transactions are recorded locally, allowing for infinite scalability, high speeds, and no fees.

Nobody uses bitcoin for transactions today, but what if we designed a cryptocurrency that works like the Internet? With Intercoin, instead of all transactions in the world passing through the same block, transactions are recorded locally, allowing for infinite scalability, high speeds, and no fees. submitted by Elizasviel to CryptoCurrency [link] [comments]

What are Bitcoin Core doing regarding transaction fees, transaction times, etc?

Not a BCH troll, just a bit uneducated and unable to find the answer.
Obviously one of BCH's "strong points" are their low transaction fees and their tx time. I was wondering, are the Core development team doing anything to combat this?
Thanks
submitted by lukejames1111 to Bitcoin [link] [comments]

Right now Bitcoin transaction fees are externalized through the entire ecosystem through inflation (block reward), what will happen when the block reward goes away? Will on-chain transactions be much more expensive?

With no block reward, transaction costs will entirely bear on those executing the transactions, instead of that cost being externalized to the system as a whole.
submitted by ethbtc to Bitcoin [link] [comments]

Bitcoin users are speaking out, and they want bigger blocks. Compare these 2 OPs: r\bitcoin: "Full blocks DO NOT matter, what matters is transaction fees" (100 upvotes) vs r/btc: "Capacity problems can't be fixed with a 'fee market'; they can only be fixed by raising the blocksize cap" (200 upvotes)

If the voting and comments on these 2 threads are any indication, then it looks like twice as many Bitcoin users want bigger blocks.
Here's the thread on r\bitcoin, with only around 100 upvotes:
Why all the disinformation? Full blocks DO NOT matter, what matters is transaction fees. Currently $0.05
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/
And here's the thread on btc, which has around 200 upvotes (even though btc is a smaller forum):
REPOST from 12/2015: "If there are only 20 seats on the bus and 25 people that want to ride, there is no ticket price where everyone gets a seat. Capacity problems can't be fixed with a 'fee market'; they are fixed by adding seats, which in this case means raising the blocksize cap."Vibr8gKiwi
https://np.reddit.com/btc/comments/4kfqyj/repost_from_122015_if_there_are_only_20_seats_on/
So, the OP on r\bitcoin said "Full blocks DO NOT matter"... but based on the relative lack of upvotes, and the many people disagreeing with the OP in that thread, it looks like most Bitcoin users actually think that full blocks DO matter, and most users want bigger blocks.
Below you can check out some of the comments from people saying why they want bigger blocks:
"More people can fit on a bus if you just charge each person more." Such logic.
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3e2dkh
~ jratcliff63367
The lack of scaling will simply push people away from bitcoin.
~ 8yo90
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3eb5a5
If transactions do not confirm because blocks are full, people will lose trust in bitcoin and go somewhere else.
~ richardamullens
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3e3zvk
Price will have to fall before these morons wake up.
It will be too little, too late then.
~ TruValueCapital
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3eb76s
That's like saying Comcast shouldn't upgrade past 1MB internet speed, since they can just charge customers more ...
That is why people are moving to other coins.
~ squarepush3r
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3e4ezx
That's a bit of a false dichotomy to say we can either have 1MB or security but never both.
Do you know anyone who says 2MB would break bitcoin?
~ offeringToHelp
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3egdkx
Tests have shown we can have larger but not too large blocks with little to no problem, 2 MB would be fine.
However the Core client devs have stated they don't want to succumb to community pressure and raise the size as they would have to do it again later.
~ novanombre
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3eafam
Published academic evidence shows up to 4x larger block sizes were perfectly safe a few months ago without all the new optimisations.
~ redlightsaber
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3e6vj6
All the big exchanges are already moving to start accepting alt-coins, it's only a matter of time before the rest of the infrastructure catches up.
The idea that allowing more transactions to occur on the bitcoin network will somehow create a bigger centralization problem than we already have with Chinese miners is laughable.
If anything, bigger blocks will create a more decentralized network by encouraging mining operations to pop up outside the Great Firewall.
~ Jacktenz
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3eogot
If Bitcoin become more popular and used, more people will run nodes in other countries and bitcoin will become more decentralized in nodes and maybe miners, not less.
~ novanombre
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3ea4o3
The whole point of the block reward subsidy is to keep the transactions cheap/free to create the market and eventually charge transaction fees.
Keeping the blocks full this early is self-defeating.
~ bitniyen
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3eckux
I do think the artificial 1MB limit, well, limits bitcoin's utility.
~ offeringToHelp
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3e7a5k
What about the transactions that still can't fit in the block?
There is still a bidding war for fees and transaction times are still going up for those who don't bid high enough.
That is not good for bitcoin.
I serve a lot of customers on paxful/localbitcoins and the vast majority of these people have no idea what is going on.
There is no need for a fee market right now.
~ 1337btc
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3e586f
Sometimes when the house is on fire you have to put ou the fire before remodeling the kitchen.
~ MarkjoinGwar
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3edt9n
To make a blanket statement that full blocks do not is simply disingenuous, regardless of where you stand on the block size debate.
~ cyber_numismatist
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3e2y1s
Full blocks do matter, you ignoramus.
Your average layman user is going to have to deal with higher confirmation times.
~ 1337btc
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3e3npq
Can't stand this ridiculous line of thinking, not worth even rebutting it anymore.
If miners dont want to do anything about it then maybe it's simply impossible to hardfork Bitcoin at this point, in which case another coin will take over.
~ Fount4inhead
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3e6byl
Bitcoin is young, just slowly building its network effect.
Now it has stopped growing. It is no longer usable as a payment network.
People are fleeing, with their money, to alt-coins.
The cast of characters who are now acting as the controllers of bitcoin are social misfits who are creating a crisis due to their inability to communicate in a mature and professional way.
~ jratcliff63367
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3egxpn
This is the wake-up call.
https://np.reddit.com/DarkNetMarkets/comments/4k13rh/btc_transaction_time_at_3_hours/
~ ForkiusMaximus
https://np.reddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/d3e67v1
Also, remember that you can use unreddit.com (instead of reddit.com), to see comments that got deleted.
https://unreddit.com/Bitcoin/comments/4kd1m8/why_all_the_disinformation_full_blocks_do_not/
Here are 3 comments that got deleted from that OP on r\bitcoin:
This argument is a little weird.
Fees are priced in Satoshis per byte of transaction, not dollars.
If Bitcoin's price doubles at the halving ... average fees double from $0.04 to $0.08.
~ paperraincoat
Blockstream ... don't have any actual product to show for the $75m they raised.
Let's hope they run out of money before they turn Bitcoin into MySpace.
~ 10mmauto
Ethereum also has an adaptive gas limit (the Ethereum equivalent of a block size limit), which eliminates the need for a block size debate.
With Ethereum, if demand increases, then block sizes increase, and it's up to full node operators to upgrade their hardware to keep up with it.
~ jtoomim
submitted by ydtm to btc [link] [comments]

How Artificial Intelligence Market Forecasts works??? selling bitcoins Question about transaction fees on this transaction for me to do next? manipulative and volatility What are the benefits of Bitcoin Will bitcoin no longer be mined Help my usless ass Best places to buy a hardware wallet?

What are your views, are there any sites I can use it in everyday life. - are coins transferred immediately to my wallet but I have BitcoinCash, how do I turn the address into the QR code? I presume there's some way in which one can go full time crypto once I pass out of college.
submitted by This_Blackberry to ProjectOblio [link] [comments]

03-02 21:02 - 'Do you think SamouraiWallet should let users know what their "one time transaction fees" are being used for when creating PayNyms?' (twitter.com) by /u/crptgd removed from /r/Bitcoin within 4127-4137min

Do you think SamouraiWallet should let users know what their "one time transaction fees" are being used for when creating PayNyms?
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submitted by removalbot to removalbot [link] [comments]

Bitcoin Cash users extolling quick transactions and low fees, please look at this chart. What happens when BCH blocks are full? How can this scale?

submitted by puck2 to Bitcoincash [link] [comments]

What happens if I send all my Bitcoins from one wallet to another wallet and the transaction fees are too low? Are the Bitcoins lost?

I'm trying to move my BTC from my old Multibit Wallet to a new Electrum wallet. I don't really understand "sweeping" so I'd rather just send them the normal way.
I can't change the transaction fee with Multibit however. What happens if the tx fees are too low? Will the BTC be lost?
(Also what are the tx rates at the moment?)
submitted by RAHRAHRAHRA to BitcoinBeginners [link] [comments]

My friends and I want to start regularly paying each other in crypto. About a half a year ago we used Bitcoin for a little. But the transaction fees are too high. What currency would you recommend?

Right now I have two important attributes to a currency that would be a catalyst for us to begin using it:
  1. Transaction fees
The fees should be low, it should be a negligible fee because we will mostly be using micro transactions. So far these are my candidates in this department:
  1. Zcash
  2. Ethereum
  3. Litecoin
  4. DASH Now I understand Ether really isn't technically supposed to be used as a currency, but c'mon, it's worth something and all we really need is something that has value that we can pay each other in. Plus the transaction fees and processing times are attractive.
  5. Usability and convenience
This is an experiment between my closest friends, we are trying to promote crypto adoption. Some of us are quite well versed in the crypto-sphere, but others are technologically illiterate. We need a currency with a reliable and well made phone wallet/app. Now this is something I'm not as familiar with. I know DASH has a wallet app but I am unsure of other options. Honestly, whichever currency has the best option for mobile payments will be the one we go for.
Anyway, thanks for the help!
submitted by japster28 to CryptoCurrency [link] [comments]

Right now Bitcoin transaction fees are externalized through the entire ecosystem through inflation (block reward), what will happen when the block reward goes away? Will on-chain transactions be much more expensive? /r/Bitcoin

Right now Bitcoin transaction fees are externalized through the entire ecosystem through inflation (block reward), what will happen when the block reward goes away? Will on-chain transactions be much more expensive? /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

[uncensored-r/Bitcoin] Mempool is empty, average transaction fees are 1/4 of what they were in August, SegWit prevalence...

The following post by jamesmrk3l is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/72sb87
The original post's content was as follows:
Why not wait until SegWit is fully adopted to make a decision then? This seems reckless and the creation of another BCH scenario doesn't make sense to me - am I missing something???
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

What are some possible ways to decrease the current transaction fees of bitcoin without doing a fork and harming bitcoin value?

submitted by mausmani2494 to Bitcoin [link] [comments]

Right now Bitcoin transaction fees are externalized through the entire ecosystem through inflation (block reward), what will happen when the block reward goes away? Will on-chain transactions be much more expensive? /r/Bitcoin

Right now Bitcoin transaction fees are externalized through the entire ecosystem through inflation (block reward), what will happen when the block reward goes away? Will on-chain transactions be much more expensive? /Bitcoin submitted by cryptoallbot to cryptoall [link] [comments]

Bitcoin Transaction Fees Explained Bitcoin Fees Explained Bitcoin Fees Explained Bitcoin transactions and transaction fees - Simplified Bitcoin Transaction Fees Drop Under $1, Returning to April Levels

Bitcoin Fees Guide Summary. Bitcoin transaction fees (sometimes referred to as mining fees) allow users to prioritize their transaction (sometimes referred to as tx) over others and get included faster into Bitcoin’s ledger of transactions known as the blockchain. (Note that even in this case, it may cost more in fees to send a small amount of BTC than the value of the transaction itself.) Transactions on the Bitcoin Cash (BCH) network are much cheaper than on the Bitcoin (BTC) network, but the two networks are distinct. Funds sent from the BTC network will remain on the BTC network, and vice-versa, with Bitcoin transaction fees are related to two basic principles of how Bitcoin works: 1. The creation of new Bitcoins and 2. The public ledger (blockchain) that registers all Bitcoin transactions that have taken place. This work falls on miners, who provide the computational power needed to create new coins and record all transactions. Transaction fees are voluntary on the part of the person making the bitcoin transaction, as the person attempting to make a transaction can include any fee or none at all in the transaction. On the other hand, nobody mining new bitcoins necessarily needs to accept the transactions and include them in the new block being created. Bitcoin transaction fees are usually quite inexpensive; the average transaction fee at time of writing is just $0.30. However, Bitcoin transaction fees, unlike the transaction fees charged by banks and other payment providers, do not have a set percentage rate (e.g. 0.3% of the transaction). Instead, Bitcoin users set their own transaction fees manually with each outgoing transaction.

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Bitcoin Transaction Fees Explained

For text and Index to Bitcoin Videos, go to https://bitcoinsimplified.blogspot.ch/ #exodus #exoduswallet #bitcoin #crypto Bitcoin transaction fees explained in simple terms. This video gets to the basics of Bitcoin fees and how bitcoin transaction fees are determined. The average transaction fees for Bitcoin have dropped under the $1 mark, and are back to levels not seen since before the rewards halving. According to data from crypto analytics website ... Roger Ver Is Pissed About Bitcoin Transaction Fees And He's Not Going To Take It Anymore! - Duration: 24:46. TheAnarchast 28,913 views. 24:46. How Bitcoin Works Under the Hood - Duration: 22:25. What is a Bitcoin transaction fee? Who does it go to? How is it calculated? Why have fees been going up lately? This week I answer all these questions and more.