Title: I need your help Post by: panyanqing on January 16, 2024, 06:04:31 PM I have a Bitcoin wallet with a (bc1pt*******) address and received tens of thousands of small (2000 Satoshi) payments. How can I get the lowest gas transaction balance? :'( Title: Re: I need your help Post by: AB de Royse777 on January 16, 2024, 06:07:17 PM I have a Bitcoin wallet with a (bc1pt*******) address and received tens of thousands of small (2000 Satoshi) payments. How can I get the lowest gas transaction balance? :'( Title: Re: I need your help Post by: Zaguru12 on January 16, 2024, 06:08:05 PM This is a taproot address which is kind of better but no one can practically tell you how much you will pay without knowing the total transaction size, except you give informations like how many UTXOs are there or in simple term how many times those satoshis were sent in so as to know the number of inputs to be used.
You can also read this thread (https://bitcointalk.org/index.php?topic=5474083.0) to learn how to calculate the transaction size yourself this will give you insight on how to get the transaction fee There is a topic from LoyceV about consolidating bitcoin dust like topic. It will take me all day to find it LOL. Someone who has a lot of time can find it for you. Wait for it. There you go https://bitcointalk.org/index.php?topic=2848987.0 (https://bitcointalk.org/index.php?topic=2848987.0) Title: Re: I need your help Post by: Orpichukwu on January 16, 2024, 06:09:36 PM Which gas fee are you talking about?
Unless you want to spend all the coins together, if not, you should be able to get the transaction through with a normal fee rate, but if you are sending out all at once, you will be forced to pay a high fee since the output won't be a single one. Title: Re: I need your help Post by: panyanqing on January 16, 2024, 06:14:45 PM To put it simply, I developed a mint inscription tool, and then they donated about 5,000 transactions to me, and each transaction was (2000 Satoshi).
Now I find that I can't get these Bitcoins because I need a lot of gas. This is a cost I cannot accept :'( Title: Re: I need your help Post by: Charles-Tim on January 16, 2024, 06:23:23 PM 5000 transactions paid to pay-to-taproot addresses. That is 287556 vbyte in total. You can only send 100000 vbytes max in each transaction. That means you will need a wallet like Electrum or Sparrow that you can be able to use coin control and split the transactions into 3 so that you will be able to send it.
To be able to do this, it would be better for you to wait until the mempool is not congested at all as AB de Royse777 posted already. In this kind of transaction, 1 sat/vbyte is the best. The mempool was not able to go more than 2 sat/vbyte in November when it was less congested, maybe this can be possible again but let us see. Just wait. Title: Re: I need your help Post by: LoyceV on January 16, 2024, 06:26:20 PM To put it simply, I developed a mint inscription tool, and then they donated about 5,000 transactions to me, and each transaction was (2000 Satoshi). There is no "gas", there's only "transaction fees" in Bitcoin.Now I find that I can't get these Bitcoins because I need a lot of gas. This is a cost I cannot accept :'( So you have 0.1 BTC in dust. Yep, you're screwed. And since those "inscription" spammers are the cause of the high transaction fees, it feels like sweet karma to me :P Either way, just wait. If fees drop enough, you can consolidate them at 1 sat/vbyte. You're going to need patience. Title: Re: I need your help Post by: BitMaxz on January 16, 2024, 06:29:32 PM To put it simply, I developed a mint inscription tool, and then they donated about 5,000 transactions to me, and each transaction was (2000 Satoshi). Now I find that I can't get these Bitcoins because I need a lot of gas. This is a cost I cannot accept :'( That's a lot of transactions I don't know if you can withdraw or send them in whole amount or I guess your total amount will not be enough to pay the transaction fees with the current network congestion. Just weird that you talk about gas fees because these terms are only used in Ethereum, not in Bitcoin. Would you mind to tell us what wallet you currently use? Title: Re: I need your help Post by: EL MOHA on January 16, 2024, 06:30:32 PM Which gas fee are you talking about? Not gas fee he is referring to transaction fee as bitcoin doesn’t use gas fee. Quote you will be forced to pay a high fee since the output won't be a single one. This time around it will be the input that will be more since he seems to have plenty of UTXOs. To put it simply, I developed a mint inscription tool, and then they donated about 5,000 transactions to me, and each transaction was (2000 Satoshi). Now I find that I can't get these Bitcoins because I need a lot of gas. This is a cost I cannot accept :'( This will definitely cost you way too much because 2000 satoshi is just 0.00002 bitcoin and it’s less than a dollar (0.86) at the moment, your total amount should be around 0.1 bitcoin ($4,300) but still it is not enough to send this transaction as the fee is way higher due to many utxo Title: Re: I need your help Post by: panyanqing on January 16, 2024, 06:33:05 PM Thank you all for your help.
I get it, except wait for the fees to drop low enough. There is no other way. . . :( Title: Re: I need your help Post by: LoyceV on January 17, 2024, 12:29:55 PM There is no other way. . . :( May I ask why "they" donated that many dust transactions? Were those different people or was it one person?Title: Re: I need your help Post by: dkbit98 on January 17, 2024, 02:46:06 PM Thank you all for your help. Depending on your address type fees may never get as low as you expect them to be on bitcoin main net.I get it, except wait for the fees to drop low enough. There is no other way. . . :( In some cases it may even be impossible to spend very low amount of sats, unless they are on LN or bitcoin second layers. To learn more about this check out this calculator for Economically Unspendable Bitcoin UTXO, made by Jameson Lopp: https://jlopp.github.io/unspendable-utxo-calculator/ Title: Re: I need your help Post by: Danydee on January 26, 2024, 10:57:47 AM Thank you all for your help. Depending on your address type fees may never get as low as you expect them to be on bitcoin main net.I get it, except wait for the fees to drop low enough. There is no other way. . . :( In some cases it may even be impossible to spend very low amount of sats, unless they are on LN or bitcoin second layers. To learn more about this check out this calculator for Economically Unspendable Bitcoin UTXO, made by Jameson Lopp: https://jlopp.github.io/unspendable-utxo-calculator/ Sometimes even when the fees you want to use are lower than the minimum permitted by the network you can force mading it just (for exemple) by signing the transaction offline and spreading it manually through some tx broadcasters that lets do that! Then you can figure accelerating it by paying enough for spending the output! I tried it about a two years ago and it's work! |