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Title: Transaction fees Post by: uraliss1 on August 31, 2013, 02:55:59 PM Hi Folks
Can someone help me with transaction fees please? I thought it was possible to send bitcoins without any transaction fees. But it appears I am wrong. Is there something I am missing? Thanks Title: Re: Transaction fees Post by: marcovaldo on August 31, 2013, 02:56:54 PM No, it is possible but it will take more time to get confirmed.
I have a transaction that is waiting for 2 days. Title: Re: Transaction fees Post by: Birdy on August 31, 2013, 03:01:39 PM It's explained here: http://bitcoinfees.com/
Title: Re: Transaction fees Post by: uraliss1 on August 31, 2013, 04:47:42 PM thanks for the update.
its more complicated than first appears! Title: Re: Transaction fees Post by: favdesu on August 31, 2013, 04:49:18 PM thanks for the update. its more complicated than first appears! indeed. online wallets and most alternative clients add the fee by default, just don't forget to use any :) Title: Re: Transaction fees Post by: Reaper3 on August 31, 2013, 05:41:19 PM thanks for the update. its more complicated than first appears! indeed. online wallets and most alternative clients add the fee by default, just don't forget to use any :) online wallets are very unsafe a lot of times. Title: Re: Transaction fees Post by: bogglns on September 06, 2013, 08:58:06 AM some wallet takes 0.001 fees
Title: Re: Transaction fees Post by: b!z on September 06, 2013, 09:31:12 AM the fees are very low (almost zero) so it does not really matter
Title: Re: Transaction fees Post by: marcovaldo on September 06, 2013, 09:48:09 AM Depends what you do ...
Imo they are way too high. Title: Re: Transaction fees Post by: Nigeria Prince on September 06, 2013, 09:52:55 AM Hi Folks You can do.Can someone help me with transaction fees please? I thought it was possible to send bitcoins without any transaction fees. But it appears I am wrong. Is there something I am missing? Thanks Calculation is: (BTC in Satoshi * confirmations)/size > 57600000 So you you want to send 5 BTC for free, size of transaction is 250 bytes. (500000000*x)/250 > 57600000 --> x > 28.8 So you need 29 confirmations before sending 5 BTC without fee with immediate confirmation. Remember, all inputs must be > 0.01 BTC as well. Sincerely, Nigeria Prince (Bitcoin expert) Title: Re: Transaction fees Post by: MCZ on September 06, 2013, 10:01:21 AM Transaction fees are good because the support the miner. Thereof they support the whole network. And they also prevent 1 satoshi spamming. Imho they are exactly where they should be. Maybe they need to be lowered in the near future, as the price for 1BTC keeps rising.
Title: Re: Transaction fees Post by: marcovaldo on September 06, 2013, 10:27:43 AM Transaction fees are good because the support the miner. Thereof they support the whole network. And they also prevent 1 satoshi spamming. Imho they are exactly where they should be. Maybe they need to be lowered in the near future, as the price for 1BTC keeps rising. If you buy a car, you don't care about the fees, but if you are just moving money from one wallet to an other, you care. Title: Re: Transaction fees Post by: Nigeria Prince on September 06, 2013, 10:31:46 AM If you buy a car, you don't care about the fees, but if you are just moving money from one wallet to an other, you care. Many people resist the bitcoin, because of the "mysteries" about the transaction fees. Most people don't understand it is way too complicated for non-tech-people. That's why I set all my miners and clients to -mintxfee=0.00000000 and -mintxrelayfee=0.00000000 to support 0 transaction fee. |