Re:Steam is no longer supporting Bitcoin
by pera on Wednesday December 06, 2017 @03:48PM
(#15864836)
Extremely low tx fees may never get into a block, but I just checked the the current price for a target of 24hs max (the same window time that fiat users currently have for returns) and it shouldn't be more than $0.35 USD for a simple 1 to 1 transaction (14 sat/byte). I know that this still isn't good, specially when you may be sending just $5 for some cheap game, but it's not that terrible either in my opinion...
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Re:Steam is no longer supporting Bitcoin
by Laforet on Wednesday December 06, 2017 @04:38PM
(#15865248)
Problem is that the minimum fee for 24hr target could change a lot in an hour or less because some news story happened or simply when enough people noticed a lull in fees and decided to move their fees when it's still cheap. In that event 24hrs coild easily turn to days.
Wallet developers and payment portals gets a lot of flak for overcharging fees, but ultimately it is still preferrable to using a conservative estimate and deal with the likely support call when the payment fails to confirm, and there is nothing they can do but watch it get bounced between nodes.