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Title: *Multibit Wallet Help* (Sending Payment Error) Post by: BitcoinParrott on June 02, 2015, 05:29:03 PM Noob question time again. Or it could be an actual error...I have no idea and I'm hoping to find out.
I'm trying to send a payment of 0.005BTC, I know it isn't a great deal but it needs to be sent. When I go to send it an error screen comes up. Below are the steps that happen. https://i.imgur.com/X0cLJSg.jpg https://i.imgur.com/Pj8SGqw.jpg https://i.imgur.com/4fx8UXC.jpg As you can see I have 0.005BTC in the wallet, however I do know there is a transaction fee for the blockchain. I thought this was 10,000 Satoshi?! So I think there should be in enough in the wallet, if not please help! If there is enough in the wallet, am I missing out any important steps or is there an error/bug with the software. I have as you can see in the third step re-set the blockchain and transactions, this has still left me with the error. Any help is appreciated. (I'm used to receiving and not sending BTC so I'm a noob in this area!) Regards to all you brilliant people. :) BitcoinParrott out. Title: Re: *Multibit Wallet Help* (Sending Payment Error) Post by: subSTRATA on June 02, 2015, 05:34:50 PM the first highly possible reason for this happening is that the 0.005 in funds youve accumulated in your wallet is "dust" from several addresses assuming the wallet's label being "petty," and the transaction you are trying to make has multiple outputs resulting in the transaction size to be larger than 1000 bytes, which in turn caused the required fee for the transaction to be more than the 20,000 satoshi you have available to transact the 0.005 btc. you should try to either get some more funds to make the transaction or decrease the amount you are trying to send.
Title: Re: *Multibit Wallet Help* (Sending Payment Error) Post by: Muhammed Zakir on June 02, 2015, 05:36:50 PM Can you post your address here? 0.0001BTC is enough to spend as fee for every 1000 bytes. If you receive lot of small payments, your transaction fee increases. Posting your address here will let us know what will be the fee to send 0.005BTC.
Title: Re: *Multibit Wallet Help* (Sending Payment Error) Post by: BitcoinParrott on June 03, 2015, 09:29:05 AM Okay guys, that's helpful! :)
Didn't know the smaller amounts were classed as 'dust', but you are bang on, it's random payments from a faucet rotator and other sites. The address I have received these small payments in is: 1JWgHwa2iaNNt35KzbWWgMBidH82JbRNj4 And the address I'm trying to send to is: 19tBv5zqHQhqeX49va9e5fej6MFodj44Sp Thank you for the help once more! Title: Re: *Multibit Wallet Help* (Sending Payment Error) Post by: subSTRATA on June 03, 2015, 10:01:34 AM i believe the formula was something along the lines of 148*(inputs)+34*(outputs) +10
so in this case with your address, there are 16 inputs and 1 output, along with the fixed 10 added to the size. so in this case, 2368+34+10=2412 bytes, meaning you would need 0.0003 in transaction fees to send that transaction with multibit's default settings of 0.0001 fee/1000 bytes. youre just a tad short |
