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Title: Electrum transaction fee per Kb Post by: aswech on August 29, 2015, 03:29:19 PM Hello,
Can someone explain me what is transaction fee per kb in electrum. I understand what is mBTC is but doesn't understand how does electrum calculate transaction in kb. For example how much is 0.25 BTC in kb. Note i'm new to bitcoin and electrum ;D Title: Re: Electrum transaction fee per Kb Post by: RustyNomad on August 29, 2015, 05:46:15 PM The fee is set for a certain amount of BTC per kb.
Each input and output of a transaction adds to the size of the transaction. A transaction with just one input and one output will be smaller than for example one with several inputs and outputs. So Electrum calculates a fee based on the size, in kb, of the transaction. I'm not sure what the size is for a normal 'average' transaction, think its around 200/300 Title: Re: Electrum transaction fee per Kb Post by: Abdussamad on August 29, 2015, 05:46:52 PM The fee you set in the options dialog box is per KB.
Title: Re: Electrum transaction fee per Kb Post by: PolarPoint on August 29, 2015, 08:50:22 PM The formula for estimating transaction size is:
180 bytes per input + 34 bytes per output + 10 bytes. Your transactions grows in size when you add more inputs and outputs to it. The current rate of transaction fee is 0.1mbtc/kb (or 0.0001btc/kb). When the network is under a spamming attack, you will need to increase this to 0.2mbtc. Title: Re: Electrum transaction fee per Kb Post by: aswech on August 31, 2015, 11:52:34 AM Thanks for replies
I will test with a transaction and see the results ;D |