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Title: Transaction fees and suggested transactions.... Post by: DuncanManagement on August 19, 2014, 08:19:43 PM I got a micro wallet to hold the small amount of Satoshi that Moon Bitcoin is generating for me (i know it isnt practical, im just learning) but my micro wallet says that I should use the recommended amount for transfers, which is 100365 Satoshi. The other amount available is 5825. Is there a reason I shouldn't use the lower one? Or is it just because it's more tedious? Please help me!
Title: Re: Transaction fees and suggested transactions.... Post by: Mobius7 on August 19, 2014, 08:29:40 PM I got a micro wallet to hold the small amount of Satoshi that Moon Bitcoin is generating for me (i know it isnt practical, im just learning) but my micro wallet says that I should use the recommended amount for transfers, which is 100365 Satoshi. The other amount available is 5825. Is there a reason I shouldn't use the lower one? Or is it just because it's more tedious? Please help me! If you withdraw your bitcoin whenever your microwallet's balance reaches 5800 satoshi, your personal wallet will be filled with dusts. And when you spend the bitcoin in your personal wallet in the future, the tx fee will be very high as bitcoin tx fee depends on the tx size in KB. Title: Re: Transaction fees and suggested transactions.... Post by: Wusolini on August 19, 2014, 08:53:49 PM I got a micro wallet to hold the small amount of Satoshi that Moon Bitcoin is generating for me (i know it isnt practical, im just learning) but my micro wallet says that I should use the recommended amount for transfers, which is 100365 Satoshi. The other amount available is 5825. Is there a reason I shouldn't use the lower one? Or is it just because it's more tedious? Please help me! Its also better for you. Each withdrawal cost you 365 satoshi (that's eaqual to around 6 % fee when you withdraw 5825). Second reason is mentioned above, it's not good to have dozens of small transactions in one address, you could have issues with high fees when you want to send them. So depends on you. Title: Re: Transaction fees and suggested transactions.... Post by: DuncanManagement on August 19, 2014, 09:31:17 PM I got a micro wallet to hold the small amount of Satoshi that Moon Bitcoin is generating for me (i know it isnt practical, im just learning) but my micro wallet says that I should use the recommended amount for transfers, which is 100365 Satoshi. The other amount available is 5825. Is there a reason I shouldn't use the lower one? Or is it just because it's more tedious? Please help me! Its also better for you. Each withdrawal cost you 365 satoshi (that's eaqual to around 6 % fee when you withdraw 5825). Second reason is mentioned above, it's not good to have dozens of small transactions in one address, you could have issues with high fees when you want to send them. So depends on you. Is the 365 satoshi a set number, or is the 6% a set percent? In other words, if i withdraw 100,000 satoshi will I pay a fee of 365, or a fee of 6% of 100,000? Title: Re: Transaction fees and suggested transactions.... Post by: Wusolini on August 20, 2014, 04:04:18 AM I got a micro wallet to hold the small amount of Satoshi that Moon Bitcoin is generating for me (i know it isnt practical, im just learning) but my micro wallet says that I should use the recommended amount for transfers, which is 100365 Satoshi. The other amount available is 5825. Is there a reason I shouldn't use the lower one? Or is it just because it's more tedious? Please help me! Its also better for you. Each withdrawal cost you 365 satoshi (that's eaqual to around 6 % fee when you withdraw 5825). Second reason is mentioned above, it's not good to have dozens of small transactions in one address, you could have issues with high fees when you want to send them. So depends on you. Is the 365 satoshi a set number, or is the 6% a set percent? In other words, if i withdraw 100,000 satoshi will I pay a fee of 365, or a fee of 6% of 100,000? It's fixed amount 365 satoshi. |