Quote:
Originally Posted by Arnox
Paxum is slightly better in that transfers are like 30 cents, but it also has the exact same fee issue when switching currencies over. Fees suck, but with crypto currencies, the fees associated with transfers are incredibly low: we're talking less than 0.1% in most cases, and since 1 Bitcoin is the same in Europe, Australia, Canada and Singapore, you're not getting shafted for doing business with people who don't use the same fiat currency as you do.
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The issue here is that Bitcoin transaction fees are based on transaction complexity (and more recently, limited transaction slots) which is not necessarily related to the value you're sending.
IOW, it may cost the same in fees to send 1 BTC as it does to send 0.01 BTC... and in some cases it may cost [i]more to send the
smaller amount. This makes sense to ensure efficient use of the network and blockchain, but seems completely illogical to someone who's not familiar with the internals of Bitcoin (ie: most of the world!). To make things even more confusing, the fee necessary to incorporate your transaction into a block will vary based on what miners choose to accept. It costs a lot more today to send funds than it did 12 or 24 months ago.
