Crypto world without fees?

[Crypto123 0]

Crypto world without fees?
Hello guys
I received a question from someone in some of the forums Why is there a currency conversion fee? Is it possible to transfer without fees?
In fact, from my personal point of view, this is not possible and not realistic at all !!
More than that, in my opinion, the fees are necessary to ensure the continued operation of the network, especially Bitcoin, because these fees are necessary for the survival of the miners.
Well, do you think that is possible? Could there be a crypto world without fees at all? Please clarify the reason, whether yes or no?

[BTC Future 3946]

I think that in the early Bitcoin days people were sending transactions without fees. Take a look at this post from 8 years ago. Right now a feeless transaction won't get processed ever.

 

About altcoins  Nano is said to not have any fees on it's network. I haven't done much research on them and there were much criticism about being centralized. Perhaps fees won't matter if the validators or miners get paid in enough new coins.

Edited June 13, 2020 by BTC Future

[CryptoLover21 0]

I don't think it is possible because without fees no any service can operate by itself only. They are necessary because miners need to be rewarded to operate mining process and for fast transaction.

Edited June 13, 2020 by CryptoLover21

[Jaysen0104 536]

I this those fees are for the service of the exchange or a wallet we are using. So that's why there's always a fee in withdrawal,deposit and conversion of a cryptocurrency.

[BrolySSJ 7899]

I do not feel that it is possible to ever have no transaction fees because then all of the sites that are used in order to exchange the crypto will not make a single bit of profit and they will go out of business very fast and there will be no exchange sites that are left. I think that the transaction and exchange fees can be lowered in order to promote more transactions. In these cases if they are lowered, they could get more transactions as it will be promoted and this may translate to a larger profit. But no fee at all is simply not possible.

[Omar Ommeish 4872]

I do not think that we can work in cryptocurrencies without a transfer fee because miners will not be able to do their work without the returns from those fees.

[Ndayebo8 0]

6 hours ago, Crypto123 said:

Well, do you think that is possible?

This actually cannot be possible dude, there must be a little fee needed to perform a transaction. Not only in cryptocurrency but even at world banks there is a transaction fee for a successful transaction.

6 hours ago, Crypto123 said:

Could there be a crypto world without fees at all?

The cryptoworld cannot be possible without a fee due to how the blockchain is created, the fees are every useful for also the miner and the smart contract are programmed to use fees for each transaction.

[Raqeebzy 6456]

I am thinking about this and I can't see how it is feasible for now, what will be the gain of more miners and network operators? I have experienced a Bitcoin transaction takes up to 4 days before it was confirmed totally due to a very low transaction fee. A transaction without fee will be in the network for years without confirmation.

[gourav789 2834]

i didn't think that this is happen in future , because for fast and secure transaction device need a reward . there isn't any service that's operate freely . anyway transcation fees is not too much high we need to pay them .

[Moaz 7239]

Of course, this is not possible. There can be no crypto world without fees. I think that the fees can be likened to transferring cryptocurrencies that miners receive such as imposing taxes on fiat currencies such as dollars or others.

[Brand1 1336]

It is impossible for this to happen, because all sites, portfolios and platforms depend on fees as a profit in exchange for providing their services to users In addition, miners will not be able to make profits and will stop working

[Crypto123 0]

7 hours ago, BTC Future said:

I think that in the early Bitcoin days people were sending transactions without fees. Take a look at this post from 8 years ago. Right now a feeless transaction won't get processed ever.

 

About altcoins  Nano is said to not have any fees on it's network. I haven't done much research on them and there were much criticism about being centralized. Perhaps fees won't matter if the validators or miners get paid in enough new coins.

Thank you, my friend, I will look at the post. As for the Nano Ledger wallet, I think it has high and low fees, I will put the link for you where they wrote that you can use the high fees to get quick confirmation or use the low savings fees you can see from here:
https://support.ledger.com/hc/en-us/articles/360006535873-Choose-network-fees

[nykas 2812]

As far as I know cryptocurrencies can`t exist without fees, because nodes which process transaction and write them into blockchain need some payment to have purpose to work, otherwise blockchain will die 

[DreamStage 2105]

I think that most of the times is as stated at exchanges "network fees" from the differential existed during the exchange and also because you are asking for a service on another buyer or seller or the exchange.

 

If we would have no fees i dont think we would also have transactions or exchanges to make such currency convertions which would be sad.

[bitcoin-shark 1928]

In addition to the nano that allows transactions without fee, tron can also do the same thing, but for all the other will be some fee, the fee are necessary to make the miners mining and executing the transactions I think this thing will not change in the short term and will last forever

[Calvinpriva 17296]

There are some wallets where you can transfer your earnings for free without any fee. I use coinpot for long time since 2018, its free to transfer bitcoins, ltc, bch, doge, dash to any wallet and its very safe my friend.

[Crypto123 0]

1 hour ago, Calvinpriva said:

There are some wallets where you can transfer your earnings for free without any fee. I use coinpot for long time since 2018, its free to transfer bitcoins, ltc, bch, doge, dash to any wallet and its very safe my friend.

Yes I have been using Coinpot a long time ago, they used to take a fees but recently they made an announcement that due to the improvements on the Bitcoin network there are no fees now, but there could be fees in the future. This is true, but you should also know that it takes about 48 hours for the transaction to arrive. You can see the advertisement from here:
https://coinpot.co/news/changes-to-bitcoin-wallet-withdrawal-limit-and-fees

Edited June 13, 2020 by Crypto123
correction

[Brushless4500KV 4214]

Without fees we will not receive any services. Any platform has some expenses to run its website. Anyone needs profit, blockchain network needs fees. Miners have expenses. They need to earn something to confirm people's transactions. Maybe a fully automated software will reveal in the future that does everything without any human interference. This can get the job done without receiving fees but for the time being, there is no way to exclude fees from any monetary system.

[Nab 263]

we could say the block processing of cryptocurrencies is always very expensive so the comissions they charge fro making exchange transactions are normal otherwise the miners would not exist since they would not have any profit.

[magd 5231]

A lot of trading and investment platforms make profit through the withdrawal and circulation fees that you place for cryptocurrencies, and thus the platforms can work because without these fees, the work of these platforms will be free and this is not possible

[BTC Future 3946]

5 hours ago, Crypto123 said:

Thank you, my friend, I will look at the post. As for the Nano Ledger wallet, I think it has high and low fees, I will put the link for you where they wrote that you can use the high fees to get quick confirmation or use the low savings fees you can see from here:
https://support.ledger.com/hc/en-us/articles/360006535873-Choose-network-fees

Oh I was talking about Nano the cryptocurrency (ex-Railblocks). They market their coin as having no fees. Although there is much talk about them being centralized and the vast billions of coins allocated to a few wallets.

[malik6314193 5449]

18 hours ago, Crypto123 said:

Well, do you think that is possible? Could there be a crypto world without fees at all? Please clarify the reason, whether yes or no?

I don't think it is possible to transfer or exchange any crypto currencies with out fee. Fee is necessary to run block chain as well as mining of bitcoin. So it is not possible to exchange without fee. 

[Crypto123 0]

4 hours ago, BTC Future said:

Oh I was talking about Nano the cryptocurrency (ex-Railblocks). They market their coin as having no fees. Although there is much talk about them being centralized and the vast billions of coins allocated to a few wallets.

Sorry, my friend, it seems that the error is from me. I thought you were talking about a Nano ledger wallet and it was revealed that you were talking about a Nano coin, so this error happened, so sorry for this unintended error from me.

[Whited35 15285]

Operating transactions by taking lowest fees is possible but I do not think about a fee-less crypto world as we can see Stellar and Ripple network where transferring any currencies within networks need really lowest possible fees and transactions will be processed within a second.

[Ridam 7455]

Well it's possible if miners started providing free services and  talking about current situation i son't think anyone would be doing this. So personally i don't think Crypto without fees is possible for now context. And after all btc are mined the only way for miners to get rewarded is transaction fee so fee would be always attached with transaction in my opinion.