You are viewing a single comment's thread from:

RE: We can now use Visa to pay Bitcoin network transaction fees!

in #bitcoin8 years ago

Fun fact

i was buying a service online 2 days ago; the item i was purchasing was $1.99 USD / 0.0015723 BTC. i busted out my trusty Jaxx wallet and scanned the qr code; price was embedded so proceeded to send the fund. i was presented with an option of what fee i would like to pay; normally this would not be an issue. i have just checked again now and the fees are still the same and are listed below

  • fast: 0.002 BTC / $2.50 USD
  • average: 0.0016 BTC / $2.00 USD
  • slow (cheap): 0.0002 BTC / 0.25 USD

i choose the slow option as it was not critical and i did not want to spend more of fees than the product it self.

FYI: this was a basic TX (1 standard input and 2 standard outputs)

TX took roughtly 26 hours to confirm; i was lucky the website i was purchasing from was still listening for the confirmation even though the payment gateway had expired the address (payment gateway had registered the payment was made as soon as it hit the mempool but after 15-20 minutes the message changed to expired; the service was no accepting unconfirmed txs.)

I can imagine that the story above you result in a support ticket being raised with the service provider if i was not willing to wait it out and seen what happened knowing full well the state of the network and my choice of fees; also helped that my item was only $2 ;)