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Title: Minimum transaction fee? Post by: gt_addict on February 29, 2016, 10:25:19 PM Hi guys,
Having only recently sent my first btc I included a fee of 0.0001 to the transaction. Is this enough or should it be more? If it's not enough and the transaction is stuck what happens next? Thanks. Title: Re: Minimum tx fee? Post by: --Encrypted-- on February 29, 2016, 10:34:55 PM Hi guys, Having only recently sent my first btc I included a few of 0.0001 to the transaction. Is this enough or should it be more? If it's not enough and the transaction is stuck what happens next? Thanks. depends. if you're paying .0001 for a 250~ byte transaction then it is good enough. it may take some time if you sent a 1KB tx with the standard .0001 fee. the optimal fee right now is 20 satoshi per byte/.0002 per KB (or more if you want it to get confirmed quickly. best is 50-60 satoshi per byte). if the tx never get confirmed it'll return to your wallet after all node stop relaying it across the network (if you're using core you need to delete the tx first.). Title: Re: Minimum transaction fee? Post by: gt_addict on February 29, 2016, 10:40:18 PM I sent 0.1btc which (according to my wallet) is 224bytes. Based on your 20satoshi per byte im almost double that.
I may just send the transaction again with a 0.0003 fee and see if that makes any difference. Ive got enough to cover it in my wallet so wont be double spending it but obviously don't want to lose the 0.1 I sent in the first place. Title: Re: Minimum transaction fee? Post by: --Encrypted-- on February 29, 2016, 10:45:55 PM I sent 0.1btc which (according to my wallet) is 224bytes. Based on your 20satoshi per byte im almost double that. I may just send the transaction again with a 0.0003 fee and see if that makes any difference. Ive got enough to cover it in my wallet so wont be double spending it but obviously don't want to lose the 0.1 I sent in the first place. that should be enough to get your tx through. it shouldn't take long unless the tx spends an input from an unconfirmed transaction. Title: Re: Minimum transaction fee? Post by: gt_addict on February 29, 2016, 11:06:46 PM I sent 0.1btc which (according to my wallet) is 224bytes. Based on your 20satoshi per byte im almost double that. I may just send the transaction again with a 0.0003 fee and see if that makes any difference. Ive got enough to cover it in my wallet so wont be double spending it but obviously don't want to lose the 0.1 I sent in the first place. that should be enough to get your tx through. it shouldn't take long unless the tx spends an input from an unconfirmed transaction. Its cleared. Thanks for the replies. Much appreciated. |