Why do we need commissions and who receives them?

[ranya 68]

What happened to Bitcoin? When Bitcoin just appeared there were no commissions. Without commission, Bitcoin would have been better than fiat money. Because of commissions, you can not use Bitcoin when buying everyday goods. Where did the commissions come from? For confirmation of the transaction, miners without commission receive Bitcoins. Why do we need commissions and who receives them?

[Bills 583]

Everyone since they saw that some type of business model can be done will do it, when miners see higher rates in commissions they make bitcoin transactions faster, for everything it is commission, I think that for free nothing will work well.

[Walter1371 49]

If the Commission was removed, bitcoin would become an ideal currency. Just think about how much you need to maintain servers, pay for the work of various operators and so on. The word Commission always carries the concept of percentages for " service"

[IrinaLavrinova 365]

When a new block is located in the network, it includes all information about transactions and their fees. As a result, users who find this block receive a reward both for it and for all transactions included in it.

[Ghetto workout 6263]

Commissions are needed to reward miners to confirm your transaction sooner. I agree that bitcoin, as an everyday currency, is currently impossible to use, but thanks to this, popularity appears among altcoins

[Emma 611]

When We withdraw bitcoin from any exchange, some take the exchange and some are paid to the miners. Miners complete our transections and we pay the comission for this

[Crypto123 0]

You have a right bitcoin commission high, but I think this problem has now been solved with the Bitcoin Lightning Network, it is a very fast network with very low fees and you can send any amount of Bitcoin up to 1000 Satoshi and with a commission that may reach 1 Satoshi.

[bliznec 22267]

The exchange needs a commission in order to send your funds or exchange. Thus, this work is provided to the cryptocurrency exchange. 

[Afrizal rahman 2636]

Commissions exist for the miners. That is when we enter into a transaction, we certainly issue a commission and that commission is considered a gift for the current miners.

[rajonmia 181]

A commission is a sum of money that is paid to an employee upon completion of a task, usually the task of selling a certain amount of goods or services. It can be paid as a percentage of the sale or as a flat dollar amount based on sales volume.thanks all of you

[Romaan1987 601]

i think there is no commission in term it can be identified as transaction fee to resolve a block or mine a block. who are miners have spend their capital into mining equipment and do mining to earn profit. 

[BTC Future 3946]

On 10/11/2019 at 6:44 PM, ranya said:

What happened to Bitcoin? When Bitcoin just appeared there were no commissions. Without commission, Bitcoin would have been better than fiat money. Because of commissions, you can not use Bitcoin when buying everyday goods. Where did the commissions come from? For confirmation of the transaction, miners without commission receive Bitcoins. Why do we need commissions and who receives them?

It is miners that receive the fees.

Indeed in the beginning there were no fees but mining requires a vast investment and miners need an incentive to keep the network running. It is an extra incentive besides the Bitcoin they generate on every block. At some point in the future (I think it is around 2140) Bitcoin will reach the maximum cap of 21million Bitcoins. So no new Bitcoins will be mined. Fees are the way to keep the network running by providing profits for miners.

Edited December 24, 2019 by BTC Future

[tranhungritc 191]

Commissions are essential for transactions which we cannot dispute because of the developer's requirements to have a good and truly sustainable coin.

[tranhungritc 191]

Of course, anyone who wants to make a profit will want to make a profit, the exchange they have to pay for the exchange from the nature of the coins, and they will collect commission from your transactions, business, you need to accept. , can't want to eat at all without sharing it to others

[andrehol 16294]

Commissions are needed to motivate miners. You determine the size of the commission for the transfer yourself. And the size of the commission affects the speed of the transfer. No one should work for free!

[Naga 1250]

On 10/11/2019 at 6:44 PM, ranya said:

What happened to Bitcoin? When Bitcoin just appeared there were no commissions. Without commission, Bitcoin would have been better than fiat money. Because of commissions, you can not use Bitcoin when buying everyday goods. Where did the commissions come from? For confirmation of the transaction, miners without commission receive Bitcoins. Why do we need commissions and who receives them?

asking this question means you dont know what is bitcoin and how its transactions work, you think there is a bank that clears your transaction? or is it miners working to do this from their mining rigs?.

[avatarkiyoshi 270]

On 10/11/2019 at 10:44 PM, ranya said:

What happened to Bitcoin? When Bitcoin just appeared there were no commissions. Without commission, Bitcoin would have been better than fiat money. Because of commissions, you can not use Bitcoin when buying everyday goods. Where did the commissions come from? For confirmation of the transaction, miners without commission receive Bitcoins. Why do we need commissions and who receives them?

I prefer to called it miner fees rather than commission.

Well, miner fees is the important thing for blockchain network, miners use their resources to move blockchain network, in return the miners paid by fees transaction. That's where mutual symbiosis occurs.

[Yanadia 1517]

in this case, the Bitcoin fee is paid solely to get more priority which can speed up your transaction.  The Bitcoin Wallet feature will always provide related options, so you don't need to worry about the risk of automatic fee deductions that occur without your knowledge.

[suzuya 945]

Commission are really important in the cryptoworld because it's like a service fee for miners, because they are the one who is responsible for every transactions done by normal users, they are the one who works when we want to transfer crypto to other address.

[Mandoy01 1196]

Transaction fees are necessary when we make transactions. Few years back in the early stage of bitcoin there was the issue of double spending. The miners have the role of confirming the transactions to insure that there will be no double spending. Thus since miners have a crucial part in the confirmation of your transaction a fee is being paid to the miner. Confirmation fee is necessary since mining is not free, it includes hardware, electricity cost and others.

[Akasshh 234]

Yeah there is a need of commssions to continue the work of mining by the miners, because mining require electricity and miners needs to pay for electricity charges ,Miners receives the commissions .

[Hanan951 841]

Hmmm, a nice topic and I don't have any idea, but I can say they need to do that to get more...

[Lunaa 238]

The fees is usually for the exchanges or for the miners. You want a faster transaction? Then you have to give a little extra money. Don't be such a baby. Just do it like anybody else, which are okay with the fees.

[Maaz sultan 265]

On 10/11/2019 at 8:44 AM, ranya said:

What happened to Bitcoin? When Bitcoin just appeared there were no commissions. Without commission, Bitcoin would have been better than fiat money. Because of commissions, you can not use Bitcoin when buying everyday goods. Where did the commissions come from? For confirmation of the transaction, miners without commission receive Bitcoins. Why do we need commissions and who receives them?

These are the digital currencies and you need to pay transaction fee if you want to withdraw them on your bank account if these taxes are not cuts on your earnings then it will helps a lot of users to earn more .

[Amir YT 202]

On 10/11/2019 at 9:44 PM, ranya said:

What happened to Bitcoin? When Bitcoin just appeared there were no commissions. Without commission, Bitcoin would have been better than fiat money. Because of commissions, you can not use Bitcoin when buying everyday goods. Where did the commissions come from? For confirmation of the transaction, miners without commission receive Bitcoins. Why do we need commissions and who receives them?

I don't know what are you saying. But i got a hint about that. I think comission is important for bitcoin. Miners mine bitcoin for earn some money. And it help the bitcoin transaction system.