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Title: Transaction fee - size rounding Post by: arnuschky on November 18, 2013, 11:09:47 PM Hello,
the wiki [1] states regarding the transaction fees that: Quote Otherwise, the reference implementation will round up the transaction size to the nearest thousand bytes and then add a fee of 0.0001 BTC per thousand bytes. Now, "to round up" and "to the nearest" are contradictory. ??? Which one is it? [2] doesn't help either. [1] https://en.bitcoin.it/wiki/Transaction_fees [2] https://bitcointalk.org/index.php?topic=219504.0 Title: Re: Transaction fee - size rounding Post by: DeathAndTaxes on November 18, 2013, 11:11:17 PM It is round up. I will update the wiki this evening unless someone does it before me.
1 to 1000 bytes = 1KB for fee purposes. 1001 to 2000 bytes = 2KB for fee purposes. Before someone correct it yes I know KB is usually 1024 bytes but the source code uses base 10 not base 2. Note sure why but it doesn't and it isn't going to change now. Title: Re: Transaction fee - size rounding Post by: arnuschky on November 18, 2013, 11:12:00 PM Ok, great! Thanks for the super fast clarification!
Title: Re: Transaction fee - size rounding Post by: mufa23 on November 18, 2013, 11:24:33 PM Thanks for the clarification! I was wondering about this myself.
Title: Re: Transaction fee - size rounding Post by: DeathAndTaxes on November 19, 2013, 02:58:06 AM Updated wiki:
Quote Sending
Otherwise, the reference implementation will round up the transaction size to the next thousand bytes and add a fee of 0.1 mBTC (0.0001 BTC) per thousand bytes[1]. As an example, a fee of 0.1 mBTC (0.0001 BTC) would be added to a 746 byte transaction, and a fee of 0.2 mBTC (0.0002 BTC) would be added to a 1001 byte transaction. Users may increase the default 0.0001 BTC/kB fee setting, but cannot control transaction fees for each transaction. Bitcoin-Qt does prompt the user to accept the fee before the transaction is sent (they may cancel the transaction if they are not willing to pay the fee). Note that a typical transaction is 500 bytes, so the typical transaction fee for low-priority transactions is 0.1 mBTC (0.0001 BTC), regardless of the number of bitcoins sent. Hopefully that avoids any future confusion. Title: Re: Transaction fee - size rounding Post by: arnuschky on November 19, 2013, 08:31:58 AM Hopefully that avoids any future confusion. Very clear, yes. Good example, thanks. |