Money Talk

the bitcoin fee is annoying

Submitted by [email protected], , Thread ID: 45368

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RE: the bitcoin fee is annoying

#4
I remember when I thought 10 cents was too much for a small transaction like that. I shouldn't have gotten used to it.

Anyway, since the price skyrocketed and more people adopted the currency there are more transactions flowing in and therefore the fees are going up. I had to wait over ten days when I paid roughly 2$ in fees a while ago.

I remember the microtransaction discussions long ago, the verdict was that somebody has to establish a PayPal-like platform for Bitcoin so that small transactions could be sent without fees and then withdrawn from the service later. Coinbase should work for that. It's just sad as it kind of defeats the purpose of Bitcoin.

You could look into something like IOTA, it has some kind of an algorithm which eliminates the need for miners. For the time being they're somewhat centralized, though, so it's not a real solution.
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