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Title: changing the transaction fee with bcoind Post by: bitcoinspot.nl on November 21, 2013, 08:02:33 AM Hi everyone,
i run a little script on my server to send some bitcoins now and then with bitcoind. With the recent runup in the bitcoin price i wanted to change the transaction fee to 0.0001 but i cant seem to make it work. regardless of the parameters i send to bitcoind it keeps sending a 0.0005 transaction fee. Here the command line that i use: bitcoind.exe" -rpcpassword=xxx -paytxfee=0.0001 sendtoaddress %address% 0.0001 "0.0001 to %email%" "0.0001 to %email%" can anyone help me out ? Greetz roland. Title: Re: changing the transaction fee with bcoind Post by: DeathAndTaxes on November 21, 2013, 08:05:51 AM I wouldn't change all that on the command line at once at startup.
Start bitcoind. If you are using windows open a NEW command prompt window and type bitcoind settxfee 0.0001 To verify type: bitcoind getinfo To send a tx type: bitcoind sendtoaddress The tx fee is per kB and the size is rounded up to the next full kB If your tx is 5 kB it will be 5 x 0.1 mBTC = 0.5 mBTC. Most tx are 1 kB but if you have a lot of low value inputs (i.e. spending 50x 0.00001 BTC outputs vs spending 1x 0.005 BTC output) then the tx can be much larger is size. Size not value is what matters. Also if the tx is low priority, has outputs less than 0.01 BTC or is larger than 10KB you have no choice but to pay the min mandatory fee of 0.1 mBTC per kB. This is a spam prevention mechanism. Title: Re: changing the transaction fee with bcoind Post by: Foxpup on November 21, 2013, 11:16:54 AM Please refrain from asking the same question multiple times, especially after it was already answered the first time (https://bitcointalk.org/index.php?topic=340032.msg3658820#msg3658820).
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