Bitcoin Forum

Other => Beginners & Help => Topic started by: Zmoneyak on December 11, 2013, 08:19:42 PM



Title: Transaction fees
Post by: Zmoneyak on December 11, 2013, 08:19:42 PM
Mining some alt coins and when I try to send money to another wallet I'm told there is a transaction fee.  But it's not small, not small enough to not notice anyway.  Was transferring 10 coins and it was going to charge 0.32 for the transaction.  I know some friends have sent/received bitcoins with no transaction fee and just had to wait longer.  Is there a way to do that with some of the alt coins?


Title: Re: Transaction fees
Post by: klovishey on December 11, 2013, 08:24:34 PM
Mining some alt coins and when I try to send money to another wallet I'm told there is a transaction fee.  But it's not small, not small enough to not notice anyway.  Was transferring 10 coins and it was going to charge 0.32 for the transaction.  I know some friends have sent/received bitcoins with no transaction fee and just had to wait longer.  Is there a way to do that with some of the alt coins?

Maybe you got the 10 coins in many transactions from the pool ? It would explain this fee


Title: Re: Transaction fees
Post by: Zmoneyak on December 11, 2013, 08:33:50 PM
Sorry, should have said that.  Yes, it is an accumulation of single coin payouts.  I think I was paid about 18 coins but each payout came 1 coin at a time.  I understand that would increase the fee but how does that really work long term?  If six months from now I want to send 5000 coins that I've accumulated over time, and in various payout quantities, I'm going to have a fee of ~160 which is crazy.  Then on the receiving end does that all become one transaction so that when that person (or myself) sends the tx fee will be significantly smaller or is it just going to carry forward and compound with additional coins that the original recipient might use when they (myself) send to the next person?

More important, at least for right now, is there a way to not have a tx fee like bitcoin.  Like I said a friend sold 1 BTC yesterday and while he had the option of paying the fee for faster processing, he chose not to and it took ten minutes or so instead of just a number of seconds.  Can this be done with the other coins?