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Title: Clarification regarding calculating fees for a raw transaction Post by: bitnanigans on October 24, 2014, 04:21:59 AM I've been reading up on how to create transactions, and I have stumbled upon some confusing details that I'd like to clarify. According to https://en.bitcoin.it/wiki/Transaction_fees, it says:
A transaction may be safely sent without fees if these conditions are met: - It is smaller than 1,000 bytes. - All outputs are 0.01 BTC or larger. - Its priority is large enough (see the Technical Info section below) Emphasis mine. It then goes on to state, "As an example, a fee of 0.1 mBTC (0.0001 BTC) would be added to a 746 byte transaction." This is where I get confused. Does this mean that transactions below 1000 bytes cannot be sent without fees? Thanks. Title: Re: Clarification regarding calculating fees for a raw transaction Post by: Foxpup on October 24, 2014, 05:05:41 AM Not if it doesn't meet the other conditions, no.
Title: Re: Clarification regarding calculating fees for a raw transaction Post by: bitnanigans on October 24, 2014, 11:07:14 PM Oh, so that means, a transaction can be safely sent without fees if:
It is smaller than 1000 bytes AND all outputs are 0.01 BTC or larger AND the priority is large enough. For some reason, I was thinking only one of the conditions had to be met, but I guess that's what happens when you haven't slept for 36 hours straight. Title: Re: Clarification regarding calculating fees for a raw transaction Post by: PangPang on October 25, 2014, 12:48:16 PM Oh, so that means, a transaction can be safely sent without fees if: It is smaller than 1000 bytes AND all outputs are 0.01 BTC or larger AND the priority is large enough. For some reason, I was thinking only one of the conditions had to be met, but I guess that's what happens when you haven't slept for 36 hours straight. You are absolutely right. Your transaction need to satisfy all three conditions at the same time. |