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Title: Transaction fees explanation Post by: kentt on May 02, 2013, 10:50:46 PM Can someone explain how transactions fees work for LTC and FTC? I think that for BTC it's free usually after a day. I found that from this article: https://en.bitcoin.it/wiki/Transaction_fees
Is it the same for other coins? Title: Re: Transaction fees explanation Post by: Jaxkr on May 02, 2013, 11:11:12 PM It works the same in alt crypto-currencies. You can choose to pay no fee, but then it will take longer to be included in a block and receive verification.
Title: Re: Transaction fees explanation Post by: Kluge on May 02, 2013, 11:15:54 PM I think that for BTC it's free usually after a day. That's frequently untrue. You need to be sending a "significant" amount of coins older than roughly a day and without a lot of inputs. "Mandatory" fees typically vary from .0005 to .0025 coins per transaction. It's a pretty decent system for eliminating "dust," it's just ridiculous trying to calculate the fee you should send. Many clients have errors in calculating minimum fees, and it doesn't help that some pools have different rules for inclusion.Title: Re: Transaction fees explanation Post by: kentt on May 03, 2013, 04:09:29 PM Okay thanks. That helps a bit, but I'm still not 100% sure I get how it works. I'm still trying to understand from this article https://en.bitcoin.it/wiki/Transaction_fees.
The key things I was looking at were: Quote A transaction will be sent without fees if these conditions are met: The technical note is rather technical, but I read it as that generally transactions older than 1 day meeting the prior three conditions would have no fees associated with them. Is this true or are there other fees.
Thanks for helping me understand. |