Bitcoin Forum

Just curious, when do you get charged with bitcoins?

some of the example I have in mind,

1- when you exchange?
2- when you move from wallet to another wallet? even within the same account?
3- when you buy something with bitcoins? when you sell something with bitcoins? if so, who carry the charges? the buyer or the seller?

just to be clear, I am talking about the bitcoin use its self, not what the medium is charging, I understand the online exchange will charge for profit, but the normal person to person transaction, who charges and where does it go ...etc

Thank you in advance for helping me learn more.

I think what you are talking about is the transaction fee.

Its a little fee that goes to the miners who mine the 1st block that confirms your transaction. Since there is a limited supply of bitcoins you need a reason for the miners to continue mining. Thus there is a fee for each transaction, the person who sends the coins pays it. With QT it is 0.0001 at the moment I think. With several other clients you dont have to pay this fee, but if you dont pay the fee the miners not put your transaction into a new block and thus the coins will never reach their goal.

The limited supply of bitcoins isn't the reason for transaction fees,
the limited supply of block-space is.  ;)
 

0.0001 per kB,
the bigger (in terms of Bytes, not amount send) your transaction is, the higher the fee should be.

It's untrue, that they will never reach their goal,
true is, that there's still lots of miners (thank god) that will include fee-less transactions.

It all depends on your transaction,
the bigger it is and the younger the inputs are, the better it is to pay an according fee,
otherwise you could end up waiting days, weeks, months, or maybe even forever to get a confirmation.

I heard that these transaction fees go to the miners, Im not sure if its true but someone chargers.

Transactions cost 0.0001btc per kilobyte so around 0.0001 to 0.0003 for your average transaction. Trading fees depend on the exchange but are usually between 0.1% and 1% !

Is it really possible, that someone can wait for more than few hours for confirmation ?

I got charged when i exchanged into other currency

Depending on the luck of the miners it can vary, however in general it is ~10 minutes between blocks, so if your tx has enough priority it should take about 10 minutes to get a confirm. If you don't pay a fee, or your fee is too small it may take longer (or may never be confirmed) or if the miners are unlucky then it can take long possibly up to a hour or more between blocks (very rare though).

Just regular transaction fees

You'll be waiting a lot longer for full confirmation if you send without any fee.

I believe you get charged a fee when it goes back to the wallet

It depends on the tx priority. Most of my 0-fee tx were confirmed within an hour.

The main ones I see was mentioned, where its at a exchange, a miner pool fee, or some sort of service most of the time.

Outside from that, I dont think its charged and its usually the owner of the site thats doing this.