Bitcoin Forum
September 22, 2025, 04:59:03 PM *
News: Latest Bitcoin Core release: 29.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Economy / Exchanges / Cryptopia BTC withdrawal fee on: November 11, 2017, 10:21:22 PM
I thought the withdrawal fee was 0.0001 BTC and not 0.001 BTC, is this normal? Thanks.


2  Economy / Exchanges / Is EzBTC.ca trustworthy and legit? on: June 16, 2017, 10:24:11 PM
Just before I send personal information over to them to get verified, I would like to know what you guys think about ezbtc.ca Is it a legitimate exchange that I can trust? I sent my verification to QuadrigaCX because they are more established but it's taking weeks. I tried to do some research but there are almost no reviews or comments about them. I also searched their address to try and find their office but it seems suspicious, all it finds is a furniture company at that address. (Note that I also can't find the office of QuadrigaCX, not just ezbtc)


I know for a fact that Google Maps is very accurate because I can see my backyard and front door with it. There is also the fact that one of their support staff goes by the name "Kelly" but the picture is that of a man. Who is their CEO by the way? I can't find his name or pictures.
3  Bitcoin / Electrum / Re: Transaction fees question on: June 07, 2017, 12:52:30 AM
KB refers to kilobytes. The amount of space the tx takes up in the blockchain not the amount of bitcoins transferred.

The size of the transaction is determined by the number of inputs and outputs. A typical transaction with 1 input and 2 outputs is about 226 bytes in size. So 0.00422465 btc/KB will result in a 0.00093 btc fee for a typical 226 byte transaction.

There is an image here that will go some way towards explaining what an input and output is: https://bitcoin.org/img/dev/en-transaction-propagation.svg

If you have a lot of small inputs like small payments from faucets then that can result in a large transaction with high fees.

Since the bitcoin supply is fixed when some people lose bitcoins it means that all the remaining bitcoins become that much more valuable.



Thanks, really appreciate the reply. However, if 99% of the people no longer have access to their bitcoins, then doesn't that mean that there are fewer people who will accept bitcoins to buy stuff? I doubt that if 1 bitcoin is left that it will be worth billions of dollars and everyone else will then share fractions of a single bitcoin. Maybe I'm obtuse but it's pretty counterintuitive.
4  Bitcoin / Electrum / Transaction fees question on: June 06, 2017, 10:14:01 PM
Hi. I have a question about the transaction fees. Is 0.00422465 BTC/kB a fee of 0.00422465 BTC which is roughly 12.12 USD $ on the present market price? The key here is the kB, I don't fully understand it. Do you pay that fee to the blockchain (miners) for every kB worth of transaction on the blockchain? But how does one transaction differ in size from another transaction? How many kB is a transaction of 1 bitcoin, 2 bitcoin, etc. Since eventually, they will reach the limit of 21 million bitcoins. I'm guessing transactions can still happen with the creation of new blocks, but at that point, no more bitcoins will be created. Furthermore, if at 21 million there can be no more bitcoins created, what happens if many people lose their bitcoins (access to them), does it at all affect the value of bitcoin for other users who still have their address? I know this is a lot of questions, I've read a few articles but they don't seem to help. At the very least, however, I need to understand the fees per kb thing that is confusing me. Is the fee really ~12 USD$? Because that's absurdly high.
5  Bitcoin / Electrum / Re: Question about electrum's private key on: June 04, 2017, 07:21:25 PM
all you need to do is to back up that Seed words.
from menu click "Wallet > Seed" then enter your password and write the seed down on a piece of paper. that is all you need to recover all the 26 or so and more future addresses that the wallet generates for you.

All I need is the seed words, not the wallet file that goes with it? I thought the file was like a safe box and the password (or seed) was the key to open the safe.
6  Bitcoin / Electrum / Question about electrum's private key on: June 04, 2017, 02:39:45 AM
I would like to have a paper backup of my private key (either paper or perhaps in a text file encrypted into a zip file w/ password inside an ordinary USB flash drive). When I try to find my private key, I see there are not 1 but 26 different private keys, why? Which private key holds my coins?
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!