10 sats \ 4 replies \ @nymkey 3 Oct 2022 \ on: BTC Tx fees: a deterrent for adoption? bitcoin
2500 Sats is, as of now, less than a dollar in fiat terms.  No bank,
institution or any other legacy financial group will let you move
any amount for such a low fee.

The fee you paid would be the same were you moving 10 whole
Bitcoin, and that is the magic.  The fact you used the Blockchain
to move only 10k Sats and only cost you 2500 is, in my opinion
a demonstration of Bitcoin's power.  Using the percentage to show
surprise is, to say it mildly, lazy.

Only Bitcoin let you move very small amounts, the information 
you provide in your post just shows you do not understand it yet, 
but it is ok.  It happens to most.

Using the Lightning Network, moving 10k Sats will cost you 1 or 2 Sats
but could even be free.  Try that with any bank right now.

Keep learning.  You will laugh at your own post months from now.
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0 sats \ 3 replies \ @lipinip235 OP 4 Oct 2022
You know which legacy institution lets me move such low values? The government, with fiat. Where's BTC real advantage over them in this matter? Paying 25% on fees is magic? I think we have different definitions of what magic is. Paying 20% of 10K sats on fiat amounts to about $0.40 over a $2 transaction, if it were "10 whole Bitcoin" one'd be paying $32,200 over a $196,000 amount. Also, stating that using percentages is lazy... Well, I won't put an adjective on that. I don't mean to be rude but I hope someone else contributes to my post with some real, non-patronizing and non-maxi answers.
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0 sats \ 0 replies \ @nymkey 4 Oct 2022
Don't worry, just verify the costs of transactions to see where
you are wrong, like this one:

txid: 599accbe2962c68b333792f041517c986f8dfe57d444ad1d52edf6d09270c9f6  

Just 0.08 USD to move 200K USD.  You are welcome.

One more thing, if you dont understand it or like it, do not use it,
unlike fiat currencies that are imposed on us despite their huge flaws, 
Bitcoin is optional.
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0 sats \ 0 replies \ @lv99_slacker 4 Oct 2022
I've seen posts on Twitter (like from Watcher Guru) about how some institution or someone was able to move millions of dollars worth of bitcoin for either a couple of dollars or under a dollar. I think this has to do with UTXO (unspent transaction) management? Not sure. Still learning the fundamentals of bitcoin. Lol.
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0 sats \ 0 replies \ @nullama 4 Oct 2022
Foreign transaction fees would make this transaction impossible with fiat because the fees would be more than 100% of the amount you want to transfer.
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