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Title: Electrum Sending Fee Question Post by: viking02 on February 19, 2015, 10:34:13 PM Im sending btc from my electrum to a gambling site. However this site has a very strange policy where the amt of btc i want to deposit, i have to type that amt in and they put in the exact amount of btc i have to deposit. Most importantly i have to do this within 7 minutes or it doesn't work.
Say i want to send 3000 usd and it say send it to this address XXXXXXXXXX, and send exactly 12.48509483 btc. It also says include miner fees in it. When i type in the amount into electrum for btc, it shows a 0.0002 BTC fee which i know i pay. The site tells me dont include that and basically say copy the exact address and btc amount but for sending fee change it to 0? Does that make sense? I said wouldnt that make my transfer go slower? The other thing was they told me the transaction wont go through if its not exactly that amount of btc. So i said couldn't i just add that btc fee to that btc amount i was given on the page and they said no. This is bookmaker/betdsi. Title: Re: Electrum Sending Fee Question Post by: ranochigo on February 20, 2015, 07:05:31 AM Electrum calculated the fees for your transaction to make sure it confirm faster. Usually, if the transaction is less than 1000b and the amount is large, it will go through without fees just fine. Just key in a lower amount into the gambling site and deposit it.
Title: Re: Electrum Sending Fee Question Post by: Muhammed Zakir on February 20, 2015, 02:01:40 PM Electrum calculated the fees for your transaction to make sure it confirm faster. Usually, if the transaction is less than 1000kb and the amount is large, it will go through without fees just fine. I think it is 1000 bytes not 1000 kilobytes. TX will get higher priority if it is higher than 0.01BTC and in your case it may work. Just key in a lower amount into the gambling site and deposit it. Yeah, if your transaction isn't for urgent needs, sending without fees or with lower fees is okay but I would stick with 'pay miners' and atleast use 0.00001BTC/TX_with_<1000, 0.000001BTC would work too. -MZ Title: Re: Electrum Sending Fee Question Post by: jjacob on February 20, 2015, 04:50:24 PM From the gambling site's point of view, do they really monitor transaction fees included in transactions?
My guess is they will just process the bitcoins received. I don't see why transaction fees included by you should have a role to play. Title: Re: Electrum Sending Fee Question Post by: Muhammed Zakir on February 20, 2015, 05:18:12 PM From the gambling site's point of view, do they really monitor transaction fees included in transactions? No. My guess is they will just process the bitcoins received. I don't see why transaction fees included by you should have a role to play. Yes. It will help the TX confirm faster and also will help the miners. -MZ Title: Re: Electrum Sending Fee Question Post by: Stedsm on February 20, 2015, 05:28:10 PM My guess is they will just process the bitcoins received. I don't see why transaction fees included by you should have a role to play. Yes. It will help the TX confirm faster and also will help the miners. -MZ [/quote] It gives an incentive to miners to include your TX in the next block and confirm it. |