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Title: what is the transaction value fee must be? Post by: shark255 on December 13, 2013, 12:24:33 PM Subject, and is it depends on amount of transferred coins ?
Title: Re: what is the transaction value fee must be? Post by: Meital on December 13, 2013, 03:34:49 PM Subject, and is it depends on amount of transferred coins ? Please refer to https://en.bitcoin.it/wiki/Transaction_fees#Settings The fee depends on the size of the tx (in KB), rather than the amount. Title: Re: what is the transaction value fee must be? Post by: nerFohanzo on December 13, 2013, 03:39:30 PM Subject, and is it depends on amount of transferred coins ? Wallets determine the fee automatically, you dont need to worry about it. 0.0001 is about 10 cents Title: Re: what is the transaction value fee must be? Post by: BlueMonkey on December 13, 2013, 04:11:27 PM Subject, and is it depends on amount of transferred coins ? Please refer to https://en.bitcoin.it/wiki/Transaction_fees#Settings The fee depends on the size of the tx (in KB), rather than the amount. Title: Re: what is the transaction value fee must be? Post by: quone17 on December 13, 2013, 04:16:21 PM The weird thing is that I guess there is a way to send the inputs only without paying a fee. Apparently though then there is a chance the transaction won't be processed/picked up byt he miners. I wonder what will happen when the transactions fee gets to be a lot of money (i.e. transaction fee is .0001 but that costs like $50 in US dollars). Seems like it will make it so people won't want to buy anything small with BTC because the transaction fee is so large.
Title: Re: what is the transaction value fee must be? Post by: shark255 on December 13, 2013, 04:46:52 PM I have found that i was looking for - "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."
Many thanks for replies! Title: Re: what is the transaction value fee must be? Post by: Jacce on December 13, 2013, 04:51:05 PM The weird thing is that I guess there is a way to send the inputs only without paying a fee. Apparently though then there is a chance the transaction won't be processed/picked up byt he miners. I wonder what will happen when the transactions fee gets to be a lot of money (i.e. transaction fee is .0001 but that costs like $50 in US dollars). Seems like it will make it so people won't want to buy anything small with BTC because the transaction fee is so large. If I understood correctly the transaction fee isn't set in stone, but rather determined by the community. Title: Re: what is the transaction value fee must be? Post by: DeathAndTaxes on December 13, 2013, 04:53:55 PM The weird thing is that I guess there is a way to send the inputs only without paying a fee. Apparently though then there is a chance the transaction won't be processed/picked up byt he miners. I wonder what will happen when the transactions fee gets to be a lot of money (i.e. transaction fee is .0001 but that costs like $50 in US dollars). Seems like it will make it so people won't want to buy anything small with BTC because the transaction fee is so large. If I understood correctly the transaction fee isn't set in stone, but rather determined by the community. Correct. The MINIMUM fee (to relay low priority txs) has been reduced four times by a factor of 100x. If the original minimum was still used it would be about $10 today. Title: Re: what is the transaction value fee must be? Post by: zengryT on December 13, 2013, 04:59:05 PM The weird thing is that I guess there is a way to send the inputs only without paying a fee. Apparently though then there is a chance the transaction won't be processed/picked up byt he miners. I wonder what will happen when the transactions fee gets to be a lot of money (i.e. transaction fee is .0001 but that costs like $50 in US dollars). Seems like it will make it so people won't want to buy anything small with BTC because the transaction fee is so large. If I understood correctly the transaction fee isn't set in stone, but rather determined by the community. Determined by the miners I would say. But most use Bitcoin-qt fee rules Title: Re: what is the transaction value fee must be? Post by: Jacce on December 13, 2013, 05:02:09 PM The weird thing is that I guess there is a way to send the inputs only without paying a fee. Apparently though then there is a chance the transaction won't be processed/picked up byt he miners. I wonder what will happen when the transactions fee gets to be a lot of money (i.e. transaction fee is .0001 but that costs like $50 in US dollars). Seems like it will make it so people won't want to buy anything small with BTC because the transaction fee is so large. If I understood correctly the transaction fee isn't set in stone, but rather determined by the community. Determined by the miners I would say. But most use Bitcoin-qt fee rules That was what I meant with community, but yeah, I guess I was a bit unclear. |