Transaction fees - Page 1

Nov. 15, 2017, 12:01 p.m.

Whats even more disturbing is that when you spend so much on fee's, you still have to wait longer because of the default 0.00001 fee for the redirect to the hot wallet (wtf)
A warning would have been nice but the owner doesnt care i guess.
Paid 11,22 euro fee's yesterday, which is about 12-13$ and am still waiting for my btc to show up in the wallet because of the redirect. Will never buy here again once i have my keys.

Joto	Nov. 17, 2017, 3:07 p.m. (Last edited by Joto on Nov. 17, 2017, 3:07 p.m.) The redirect transactions are pretty quick now most hashpower is back. BlockCypher automatically adjusts and uses a reasonable fee so unless the network is heavily clogged it still works okay.

thetingoesBUP

Dec. 23, 2017, 6:42 p.m. (Last edited by thetingoesBUP on Dec. 23, 2017, 6:58 p.m.)

Agreed. I sent my funds from coinbase and I had to pay a whopping 30$ just to get it here. Not to mention it's been 16 hours and I still haven't been credited. This website needs to have some other form of crypto implemented

Exaeta

Dec. 24, 2017, 7:12 p.m.

Bitcoin transaction fees near 1000 Satoshi per byte.
Yes this is an all time high. This can cause havoc for the low to medium volume traders. Spending this kind of money on a transaction is not feasable. This raises the recommended fee to 214700 Satoshi, $13.84 or about 8-9 keys. Yes this will not remain for long, but addresses a point here. Bitcoin is outpricing our use case and we have to come together and find a solution.
I don't mean to speak bad of bitcoin, I never will, but there are alternatives. At this point in time most users on dispenser.tf choose the lowest transaction fee, just to get by with a low percentage loss. In times like these, those transactions will not get through in a reasonable time span. Other crypto currencies offer a lower fee and faster confirmation times. Great services such as shapeshift.io make it possible to exchange these currencies cheaply. Simply having the option of getting withdrawals and making their deposits in litecoin or a similar currency, could go a long way to making dispenser.tf dollar value trading accessable to many more users.
I know that I will most likely not be welcomed with open arms with this statement. Take it how you will, but understand the motivation behind my point. I am optimistic on bitcoin.

Source: https://bitcoinfees.earn.com/

I don't like bitcoin cash, but I think litecoin would be a really good alternative to bitcoin. Bitcoin is intended more as a store of value, whereas litecoin is intended more for payments. I think litecoin and its various advantages make it a better solution for key trading. Bitcoin is really only useful for really large transfers, not small to medium volumes of keys.

Exaeta

Dec. 28, 2017, 9:10 a.m.

I agree with your observations. I am not partial to any alt coin. It doesn't matter what crypto is used, as long as it has zero to no TX fees. Any top 10 currency would work. I just mentioned bcash Roger Ver slams his head into the wall. The shockwave can still be heard in his asic boost powered mining farms in China. because the code required would be a drop in replacement.

An extra advantage for BCH would be that many existing Dispenser BTC users should already be entitled to some BCH if they held any BTC at the start of August.

There's another fork in the next 24 hours for B2X, so by the same logic it would be sensible to hold off in the meantime, since we don't yet know which will have better prospects.

Two points worth noting: firstly, we should all be extremely careful when claiming forked coins, since private keys are at risk from phishing. Secondly, that wallets of forked coins use very similar addresses and confusing them could cause serious problems and loss of coins.

I would generally stay away from forked coins. That's why litecoin seems like the better option. Bitcoin could still be supported, but there's no reason not to support both.

Joto

Dec. 28, 2017, 2:48 p.m.

We cannot credit users any forked coins because we did not take snapshot of the BTC balance during the forked block.

Joto

Dec. 29, 2017, 2:55 p.m. (Last edited by Joto on Dec. 29, 2017, 2:55 p.m.)

We cannot credit users any forked coins because we did not take snapshot of the BTC balance during the forked block.

In hindsight, I should've worded this differently. I hadn't anticipated that it could read like that.

What I meant was that many Dispenser users would've held some BTC in their own wallets when BCH was forked, so could (with care) claim their initial BCH for use on Dispenser should it be implemented as a payment method.

I see.

But since nowadays all the popular exchanges trade BTC/BCH/ETH/LTC there is no difficulty in getting any of them.

However, implementing any coins other than BTC here is more difficult than most people think because there are not as many services built around them.

Exaeta

Jan. 2, 2018, 5:53 p.m.

It's difficult know how long issue with the BTC network will persist for. Lightning Network seems to be the technology to watch and GreenAddress do plan to implement Lightning Network, but it doesn't look like this is going to be complete soon.

Lightning network is already available with Litecoin though.