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Title: Transaction fee Post by: MaximC on April 09, 2016, 04:16:57 PM How big is transaction fee in bitcoin?
Minimum, maximum? What do you want to pay to successful transaction? Thank you. Title: Re: Transaction fee Post by: defcon23 on April 09, 2016, 04:18:34 PM you can find many answer to fees questions on this webstite: https://bitcoinfees.21.co/ (https://bitcoinfees.21.co/)
i hope this could help you ;) Kind regards Title: Re: Transaction fee Post by: longbob72 on April 09, 2016, 04:23:38 PM there are no minimum or maximum.
what fee to pay depends on factors like the size of the transaction and total number of unconfirmed transaction currently waiting on the mempool. the site the user above me posted (https://bitcoinfees.21.co/) can be used to determine what fee you should pay. Title: Re: Transaction fee Post by: GregH37 on April 09, 2016, 04:28:10 PM there are no minimum or maximum. what fee to pay depends on factors like the size of the transaction and total number of unconfirmed transaction currently waiting on the mempool. the site the user above me posted (https://bitcoinfees.21.co/) can be used to determine what fee you should pay. Minimun can be zero but it will take transcation to complete in ages. I think the normal fee is 0.0001 BTC Title: Re: Transaction fee Post by: defcon23 on April 09, 2016, 05:00:34 PM there are no minimum or maximum. what fee to pay depends on factors like the size of the transaction and total number of unconfirmed transaction currently waiting on the mempool. the site the user above me posted (https://bitcoinfees.21.co/) can be used to determine what fee you should pay. Minimun can be zero but it will take transcation to complete in ages. I think the normal fee is 0.0001 BTC and better: 0.0005/kilobyte ( what is the defaut electrum's fees) ...keep in mind that's stay a RIDICULOUS amont of money, as fees, to send money easily all around the world ;) i really dont understand why some user dont want to play the game in a fair way.. maybe you want do that for ... FREE ?? .. LMAO ;D indeed, you can do it for 0.0001/KB ... but : just think to miners please... ' even if you 're not here to be "social ". 8) Title: Re: Transaction fee Post by: Denker on April 09, 2016, 05:09:54 PM How big is transaction fee in bitcoin? Minimum, maximum? What do you want to pay to successful transaction? Thank you. Use a wallet who offers dynamic transaction fees. These will calculate automatically how high/low the fee should be. Title: Re: Transaction fee Post by: defcon23 on April 09, 2016, 05:11:49 PM How big is transaction fee in bitcoin? Minimum, maximum? What do you want to pay to successful transaction? Thank you. Use a wallet who offers dynamic transaction fees. These will calculate automatically how high/low the fee should be. Title: Re: Transaction fee Post by: SFR10 on April 09, 2016, 07:25:33 PM Minimum fee (normal confirmation) for transactions is around 30 Satoshi per byte and there's isn't a maximum fee (since you could just put as high as you want) but there's is a fee of 60 Satoshi for fast confirmation. They key to understand each of transactions minimum fees is to understand how to calculate certain transaction sizes, in which I will quote here a post that I made last week in regards to this:
(hope it helps). From what I see, many up until now, don't know yet how to calculate transaction fee's and as result always tend to blame the way network reacts to each transaction. Just because a transaction is consist of 0.0001 BTC as a fee, doesn't mean that, it's enough for it to be confirmed in the next block. I'll try to explain the process of transaction size estimation: For reference, let's take your transaction into example: https://blockchain.info/tx-index/5bc33bf29987c995cb9c11f052c5b2792b5890e414806fc27df7a7fe93101c45 There is 6 inputs and 2 outputs (most transactions automatically give you 2 outputs if your sending to one person) Number of inputs should be multiplied by 148 (the number changes sometimes) + the number of outputs multiplied by 34 +10 or -10 (mostly it's +10) 6 x 148 (888) + 2 x 34 (68) +10 or -10 888 + 68 +10 = 966 bytes (close estimation as in your transaction was 964) On a side note: For fast confirmation a 60 Satoshi is recommended per byte Best possible way to know the inputs is to know and calculate the transactions on your account and see how many inputs will be needed from the remaining unspent one's in order to calculate the inputs prior to sending (not sure if there's a wallet that does this automatically but I'm saying this base on my experience of using blockchain.info only) There's another thing that would help in most cases and that is the feature in blockchain.info (not sure if it exist on others too) that You would choose the fee from normal to generous and automatically each transaction will have a fee of 0.001 as base fee. The fee for your transaction should have been 0.0005784 to be as high priority transaction that would get confirm within the next block. Title: Re: Transaction fee Post by: yenxz on April 09, 2016, 07:54:57 PM How big is transaction fee in bitcoin? normally trnsaction fee is 0.0001 or higher if you set it on higher transaction,and its make transaction faster if fee higher,but in some exchange or wallet we can't se up manually that fee transaction,its ussually cause an delay transaction. i love minimum transaction.Minimum, maximum? What do you want to pay to successful transaction? Thank you. Title: Re: Transaction fee Post by: btvGainer on April 09, 2016, 08:05:44 PM You can always check the fee in most wallets at the time you enter the bitcoin amount you want to send.It differs from wallet to wallet as well
Title: Re: Transaction fee Post by: gentlemand on April 09, 2016, 11:20:30 PM I leave it up to my wallet. I can't be bothered to stay on top of the most fashionable fees of the moment.
Title: Re: Transaction fee Post by: unamis76 on April 09, 2016, 11:23:17 PM You can learn pretty much everything about fees here (https://en.bitcoin.it/wiki/Transaction_fees). You can see live info on bitcoinfees and Statoshi too.
Title: Re: Transaction fee Post by: TastyChillySauce00 on April 10, 2016, 12:41:47 AM if you're using blockchain when you want to send a bitcoin, just simply use the quick send features and it'll automatically set a requrement fee for your transaction ,not too much, not too less
Title: Re: Transaction fee Post by: fuathan on April 10, 2016, 01:11:36 AM It depends on the technology or system that you are using...
Title: Re: Transaction fee Post by: setupbounds on April 10, 2016, 02:01:03 AM Transaction fee is not something to be worried about in Bitcoin Network. It is very very low fee and it is paid to the miners who have done such a hard work and put in their resources and hardware to mine the coin for us. :)
Title: Re: Transaction fee Post by: fenican on April 10, 2016, 05:13:30 AM While transaction fees are presently low, the true cost per transaction, paid for through currency dilution, is enormous:
https://blockchain.info/charts/cost-per-transaction This is clearly unsustainable since it requires a massive number of buy and hold Bitcoin investors to effectively subsidize miners. Investors at $5/BTC had some reasonable expectation to gain money. Investors at $400/BTC are just paying for the network; little or no chance of appreciation (see the people who "invested" at $1100/BTC, $900/BTC, $700/BTC, etc...) Title: Re: Transaction fee Post by: ralle14 on April 10, 2016, 05:57:14 AM How big is transaction fee in bitcoin? That depends on how much are you going to send and also which wallet are you using if you are using an exchange wallet like coinbase they wont charge you for any fees, if you are using blockchain wallet or mycelium the minimum is 0 but it could take weeks before it gets confirmed just always use the standard fee which is .0001 and your transaction should be fine.Minimum, maximum? What do you want to pay to successful transaction? Thank you. Title: Re: Transaction fee Post by: bankingbtc on April 10, 2016, 07:28:36 AM How big is transaction fee in bitcoin? Minimum, maximum? What do you want to pay to successful transaction? Thank you. usually fee is around 0,0001 fee, but that's not maximum fee or minimum fee, like someone said minimum fee can be 0, just it will take ages to send/get bitcoins, while i don't know how maximum fee looks like but it depends on technology, usually higher fee - faster sending/geting bitcoins Title: Re: Transaction fee Post by: BitHodler on April 10, 2016, 08:45:44 AM How big is transaction fee in bitcoin? Minimum, maximum? What do you want to pay to successful transaction? Thank you. usually fee is around 0,0001 fee, but that's not maximum fee or minimum fee, like someone said minimum fee can be 0, just it will take ages to send/get bitcoins, while i don't know how maximum fee looks like but it depends on technology, usually higher fee - faster sending/geting bitcoins It depends highly on how many inputs a certain transaction has. If I send a single input of 1BTC then I can most likely get it confirmed within 2 blocks with only 0.00001BTC in fees. If you have a transaction of 1BTC with 20 inputs being 0.05BTC each, you most likely won't get your transaction confirmed within 5 blocks with only 0.00001BTC in fees. Then around 0.0005-0.001BTC will be more suitable. Title: Re: Transaction fee Post by: gkv9 on April 10, 2016, 09:01:28 AM Nowadays, normal mining fee considered to get your transactions earlier into the blocks is ~0.0002 BTC...
But as said, everything depends on the total size of the transaction, as to how many bytes are being used, and you then need to decide the fee for the same... Title: Re: Transaction fee Post by: setupbounds on April 24, 2016, 04:37:36 PM If you want to avoid the transaction fee, you can use XAPO or Coinbase as your Wallet for bitcoin. They do not charge you the transaction fee. but they do hold your private keys, so there is a risk and tradeoff. Now its your choice to pay the fee or give control in other people hands.
Title: Re: Transaction fee Post by: tobacco123 on April 24, 2016, 04:55:51 PM When the value to each coin becomes higher, the normal fee will become lower. Usually 100bits work for most of my transactions, which is less than 5 cents. I think when the value of coin increase further, the transaction fee should remain at around 5 cents...
Title: Re: Transaction fee Post by: Fityan on April 24, 2016, 05:05:36 PM How big is transaction fee in bitcoin? the minimum is 0.00001 bitcoin,and the maximum is unlimited i think,i ever seen bitcoin transaction with 1.5 Bitcoin fee,its crazy i think,i hope i will never feel that transaction :DMinimum, maximum? What do you want to pay to successful transaction? Thank you. Title: Re: Transaction fee Post by: OROBTC on April 24, 2016, 05:14:43 PM you can find many answer to fees questions on this webstite: https://bitcoinfees.21.co/ (https://bitcoinfees.21.co/) i hope this could help you ;) Kind regards That was interesting, thanks for posting the link. If I interpret the information there correctly, BTC0.0001 is a pretty reasonable transaction fee. That is very low (less than US$0.05). Considering that various other fees (BTC ATM fees, localbitcoin sellers charging high premiums, etc.), that is almost NOTHING! To make it more likely that a miner will take my BTC transaction (if important) more quickly, I send along BTC0.0003 if it is a simple transaction. Title: Re: Transaction fee Post by: buyinbtc on April 24, 2016, 06:53:57 PM the transaction fees are getting bigger right now because the block size is too small for the amount of transactions bitcoin has at the moment but im hoping that situation will be better in the near future
Title: Re: Transaction fee Post by: quintiilieo on April 24, 2016, 07:20:04 PM How big is transaction fee in bitcoin? Minimum i think 0.0001 in blockchain, maximu. I think ist large because itried to transfer 30$ in another wallet the fee is so big, i thought the minimim and maximum fee is 0.0001 but im shocked with the feeMinimum, maximum? What do you want to pay to successful transaction? Thank you. Title: Re: Transaction fee Post by: StoreBit on April 24, 2016, 07:36:50 PM Currently I am using xapo and I am receiving a little amount of bits/satoshis from some faucets and so I don't know that how much is the transaction fee in sending or receiving bitcoins.
But I have heard that there is a much less amount of transaction fee charged while sending bitcoins. Title: Re: Transaction fee Post by: franky1 on April 24, 2016, 07:55:04 PM i really laugh at peoples naivety..
when over 2000 people at the same time decide that 13cents is the minimum. suddenty everyone will start to spend 18 cents as the minimum. this is because people are blindly incrementing the tx price by 0.0001 each time. instead of smaller amounts in between. so remember what your using, ... try not to jump so high each time 0.0001btc = $0.045c 0.0002btc = $0.09c 0.0003btc = $0.135c <- some say this is new minimum 0.0004btc = $0.18c 0.0005btc = $0.225c <- some services already have this as the minimum 0.0006btc = $0.27c 0.0007btc = $0.315c 0.0008btc = $0.36c 0.0009btc = $0.405c 0.0010btc = $0.45c try not to get it to 45cents with just 5 more decisions for the minimum.. try to use amounts inbetween to avoid it jumping too fast. i expect the segwit lovers to reply that the tx fee is a free market scenario and is good thing, they will say how fees are still cheap and try distracting people to not care about their own actions and to blindly rely on what corporations choose to set the fee as(when they spam).. try to not be lulled into going with the autonomous brain-dead path. and instead just set the fee higher than the minimum BUT not by the more than a few cents above the minimum. EG not 0.000X increments but 0.00000X increments i also predict the segwit folks will tell you that their features will solve any high fee problems.. but thats empty promises without any true realistic promise, due to many technical aspects they wash over Title: Re: Transaction fee Post by: shorena on April 24, 2016, 08:04:50 PM i really laugh at peoples naivety.. when over 2000 people at the same time decide that 13cents is the minimum. suddenty everyone will start to spend 18 cents as the minimum. this is because people are blindly incrementing the tx price by 0.0001 each time. instead of smaller amounts in between. so remember what your using, ... try not to jump so high each time 0.0001btc = $0.045c 0.0002btc = $0.09c 0.0003btc = $0.135c <- some say this is new minimum 0.0004btc = $0.18c 0.0005btc = $0.225c <- some services already have this as the minimum 0.0006btc = $0.27c 0.0007btc = $0.315c 0.0008btc = $0.36c 0.0009btc = $0.405c 0.0010btc = $0.45c try not to get it to 45cents with just 5 more decisions for the minimum.. try to use amounts inbetween to avoid it jumping too fast. -lets keep the propaganda aside, shall we?- This is very good advice and it shows the idiocy of a "default fee". You can not remember a number that will always get you a quick confirmation. Such a default fee does not exist or it is unreasonble high most of the time. The demand for space on the blockchain changes with every block found. If you dont use a wallet that is able to give you a good estimate you have to get it from a different source, e.g. 21.co. Title: Re: Transaction fee Post by: calkob on April 24, 2016, 08:09:29 PM It changes as time goes by but i find the core app gives a very accurate fee and nearly all my transactions get into the next block.... ;D
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