Bitcoin Forum

works a treat. great work folks  ;D

updated below after using it for a few days

being able to specify the tx fee properly is a superb addition.

Which wallet is this?

The new v0.10 Bitcoin-Qt wallet.

on second thoughts


this from mmpool thread (mmpool pays tx fees to miners - it's a small pool with long rounds and miners often rely on the little bit extra to make those long rounds worthwhile):


miners are losing out due to qt users having the ability to specify very low tx fees.

I sent a tx of ~2.5BTC yesterday - and specified the 'normal' tx fee - with a tx fee of only 2230satoshi - it confirmed within 7 blocks, so took not much longer than a tx with 0.0001 tx fee.

I think that the low tx should be capped at a more sensible rate. 0.0001 was fine before, why give people the ability to reduce it by such extents and skim it from the miners?

me no likey.

0.0001 BTC fee is way too much.

That's several cents, whereas bank transactions are typically free (at least here in Europe they are). Even if it's just a few cents, it invalidates the statement that Bitcoin is a very cheap means of sending money. And besides, when doing small transactions (like small donations or tips or whatever) this is actually quite a few % of the amount. Not good.

Currently the de facto standard in most clients is 0.00001 BTC (or more specifically: 1000 satoshis per 1KB tx data) and I'd say that's absolutely fine.

Bitcoin-Qt = Bitcoin Core , correct ?
the version 0.10 is just the release candidate if I'am not wrong , the official one is 0.9.4 but not availlable for Windows yet .
@Kazimir , how 0.0001 BTC as fees is way too much , that's too low .

Again, 0.0001 BTC is WAY more expensive than bank transactions (at least in Europe). You can't claim Bitcoin is a better way to send money if you actually pay more per transaction.

There's absolutely nothing wrong with 0.00001 BTC fees.

Nope, I'm talking about regular consumer bank accounts. Both national and international wire transfers (within SEPA zone) are 100% free.

Not saying they're fast, national transfers take 1 business day, international transfers even up to 2-3 days, so Bitcoin clearly has the advantage there. But not in terms of costs.

Now I'm definitely willing to pay 0.2 c€nts (=about 0.00001 BTC) per transaction, but 2-3 cents is rather expensive. Obviously it's not much, but when doing a €0,50 payment (like a small website tip or article donation or whatever) that's quite a few % of the total amount. Not good, and not necessary either.

Ok, well sure, I don't know about all banks or countries. But I've got experience with quite some different banks, in several countries, in situations with people having small (or even negative :D) or huge balances, i.e. certainly not students or other subsidized special cases, doing both small and large transactions, all for free.

Nonetheless I will take it for granted it's definitely not free for everyone. But in general, it would just be great for Bitcoin acceptance if the phrase "sending money around the world almost for free" actually holds. For some types of transactions, paying 2-3 cents qualifies as "almost for free", for other transactions (or compared to other every day bank situations) it certainly doesn't. With 10x lower fees though, it does, hence my appraisal for the default 0.00001 BTC tx fee.

Sorry, offtopic.


Is a regular bank account at your bank also free?

No, it costs like €1 or €2 (flat fee) per month or so.

Actually I think for students it's free, but we're talking general case here.

no..

Kazimir it's right!!!

if you have homebanking,
you pay ZERO fee for SEPA money transfert!!

so, btc transaction fee are higest!!!

but i remember who if you have a bank account... you need to pay tax on it...

and if you consider this, bitcoin returns profitable

 ;D ;D ;D ;D ;D ;D

not only that, the dynamic fee is the killer feature

If miners don't like the lower tx fees, they can unplug and GTFO. No one is forcing them to mine. All this "oh no the miners!" bullshit drives me crazy. Let them go and I'll plug in my old mining equipment and gladly accept the block reward plus little to no tx fees. So will many others.

coinableS,

but what are you sayng???

try to check this short video to understand miners work better:

https://www.youtube.com/watch?v=HrQDMy5SwhE (https://www.youtube.com/watch?v=HrQDMy5SwhE)

have fun!!!!

 ;) ;) ;) ;) ;) ;)

you need to find a new bank that doesn't charge you for the privilege of using the bank.
Maybe all banks in the EU do? I don't know but not here in the states.

i have wallet-QT 0.9.3.

if i backup my currently %AppData%Roaming\Bitcoin\blocks folder
i could reuse it for wallet-QT 0.10???

or i need to recync and have a waste of time??

thanks!!!

I think you can just install over the old version. https://github.com/bitcoin/bitcoin/blob/0.10/doc/release-notes.md

I have made symlinks to blocks and chainstate directories like this:

ln -s /Volumes/networkdrive/blocks/ ~/Library/Application\ Support/Bitcoin/blocks
ln -s /Volumes/networkdrive/chainstate/ ~/Library/Application\ Support/Bitcoin/chainstate

They work, as far as I can see, but when I start Bitcoin-qt 0.10.0 it tells me "Error opening block Database".

Any idea of how this can be done?  ???

Hmm, in the log file I get this error: "IO error: lock /Users/spjuth/Library/Application Support/Bitcoin/blocks/index/LOCK: Operation not supported"

Probably not correct filesystem of the drive. Guess I need to reformat it.