3 ms·
The question is whether more is lost to transaction fees. They seem to answer that perfectly, no? There’s no way of donating money electronically without some f
by carnitine 5y ago
The question is whether more is lost to transaction fees. They seem to answer that perfectly, no? There’s no way of donating money electronically without some fee.
- tsimionescu 5y agoThe transaction fees for paying with Visa/PayPal etc are MUCH lower than paying with Bitcoin or Ethereum, especially for small donations - for small donations, it's quite possible for BTC/ETH transaction fees to be well over 100% of the transaction value. Quoting the additional BitPay fee only is completely misleading.
- randomhodler84 5y agoBTC costs $0.06/tx to the sender currently (1sat/vbyte) The vendor can set up their own payment gateways, or use a system like bitpay and pay 1%, which is cheaper than a cc. Then there is lightning that may cost single sats or less. Eth is an expensive gas coin and will cost multiple dollars or more to trade or sell. Agreed about that.
- tsimionescu 5y agoAccording to this tracking site [0], it's actually been pretty steady at 2.6USD/tx for the past 6 months. [0] https://ycharts.com/indicators/bitcoin_average_transaction_fee https://ycharts.com/indicators/bitcoin_average_transaction_f...
- randomhodler84 5y agoYeah, what’s funny about that is 80% or more of tx are overpaying by a great great deal. Check out mempool.space, currently a high priority next block cost is about 14 sat, yet most of the txs are using far more. I think there are some very bad wallets out there. You can do minimum fee txs nearly all the time. Blocks generally are not full for long periods, so a 1sat tx will confirm eventually.
- lostmsu 5y agoYou are looking at the wrong metric. Generally you want median fee or even minimal fee, not the average, which includes very complex transactions irrelevant for the case.
- deleted 5y ago[deleted]