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Author Topic: Bitcoin server - set minimum transaction fee  (Read 2794 times)
Gavin Andresen
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April 03, 2015, 08:52:54 PM
Merited by EFS (100), ABCbits (3)
 #21

Hello fellows!
I'm actually running bitcoind server to receive and send transaction through my own software.
Transaction size of my spends are always near to 100kb/500kb, so how do I set a minimum/pseudo-fixed transaction fee in my bitcoin.conf/software? If you haven't figured out yet what I mean, I would always pay 0.0001 BTC for each spend cause they never exceed 1.000kb.
Hoping in a fast reply  Roll Eyes

You can't, the reference implementation wallet always pays some-amount-per-1000-bytes-of-the-transaction.

The rules for the 0.10 release are:

+ By default, you always pay a fee (this is different from previous releases that would send transactions without a fee if they had high enough priority)  (run with -sendfreetransactions=1 to get the old behavior of sending high-priority transactions without a fee)
+ By default, the fee-per-kilobyte is estimated based on recent transaction confirmation history.

To get close to what you want (pay a fixed fee per transaction), run with -paytxfee=0.whatever  : that tells the wallet code to pay 0.whatever BTC per 1000 bytes. Most transactions are about 500 bytes big.

See here:  http://core2.bitcoincore.org/smartfee/fee_graph.html  ... for how high to make -paytxfee=0.whatever based on how long you're willing to wait for the first confirmation (that page graphs estimates from the latest&greatest fee estimation code from Alex Morcos that will hopefully be in the 0.11 Bitcoin Core release).

How often do you get the chance to work on a potentially world-changing project?
supermoney (OP)
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April 13, 2015, 10:26:45 AM
 #22

Hello fellows!
I'm actually running bitcoind server to receive and send transaction through my own software.
Transaction size of my spends are always near to 100kb/500kb, so how do I set a minimum/pseudo-fixed transaction fee in my bitcoin.conf/software? If you haven't figured out yet what I mean, I would always pay 0.0001 BTC for each spend cause they never exceed 1.000kb.
Hoping in a fast reply  Roll Eyes

You can't, the reference implementation wallet always pays some-amount-per-1000-bytes-of-the-transaction.

The rules for the 0.10 release are:

+ By default, you always pay a fee (this is different from previous releases that would send transactions without a fee if they had high enough priority)  (run with -sendfreetransactions=1 to get the old behavior of sending high-priority transactions without a fee)
+ By default, the fee-per-kilobyte is estimated based on recent transaction confirmation history.

To get close to what you want (pay a fixed fee per transaction), run with -paytxfee=0.whatever  : that tells the wallet code to pay 0.whatever BTC per 1000 bytes. Most transactions are about 500 bytes big.

See here:  http://core2.bitcoincore.org/smartfee/fee_graph.html  ... for how high to make -paytxfee=0.whatever based on how long you're willing to wait for the first confirmation (that page graphs estimates from the latest&greatest fee estimation code from Alex Morcos that will hopefully be in the 0.11 Bitcoin Core release).


I'm now having full control of fees through:

  • getbalance
  • listunspent
  • createrawtransactions
  • signrawtransaction
  • sendrawtransaction

Previous method was working fine but when change addresses (inputs) were too much I started spending more than 0.0001 BTC, complete chaos  Shocked
However now's everything ok with new functions  Wink
coinpr0n
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April 13, 2015, 10:54:18 AM
 #23

Hello fellows!
I'm actually running bitcoind server to receive and send transaction through my own software.
Transaction size of my spends are always near to 100kb/500kb, so how do I set a minimum/pseudo-fixed transaction fee in my bitcoin.conf/software? If you haven't figured out yet what I mean, I would always pay 0.0001 BTC for each spend cause they never exceed 1.000kb.
Hoping in a fast reply  Roll Eyes

You can't, the reference implementation wallet always pays some-amount-per-1000-bytes-of-the-transaction.

The rules for the 0.10 release are:

+ By default, you always pay a fee (this is different from previous releases that would send transactions without a fee if they had high enough priority)  (run with -sendfreetransactions=1 to get the old behavior of sending high-priority transactions without a fee)
+ By default, the fee-per-kilobyte is estimated based on recent transaction confirmation history.

To get close to what you want (pay a fixed fee per transaction), run with -paytxfee=0.whatever  : that tells the wallet code to pay 0.whatever BTC per 1000 bytes. Most transactions are about 500 bytes big.

See here:  http://core2.bitcoincore.org/smartfee/fee_graph.html  ... for how high to make -paytxfee=0.whatever based on how long you're willing to wait for the first confirmation (that page graphs estimates from the latest&greatest fee estimation code from Alex Morcos that will hopefully be in the 0.11 Bitcoin Core release).


I'm now having full control of fees through:

  • getbalance
  • listunspent
  • createrawtransactions
  • signrawtransaction
  • sendrawtransaction

Previous method was working fine but when change addresses (inputs) were too much I started spending more than 0.0001 BTC, complete chaos  Shocked
However now's everything ok with new functions  Wink


So you are not using change addresses now? Or only a few specific change addresses? I'm no expert but I wonder if that would be totally safe? I guess maybe if anonymity isn't the goal...

supermoney (OP)
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April 13, 2015, 11:36:08 AM
 #24

Hello fellows!
I'm actually running bitcoind server to receive and send transaction through my own software.
Transaction size of my spends are always near to 100kb/500kb, so how do I set a minimum/pseudo-fixed transaction fee in my bitcoin.conf/software? If you haven't figured out yet what I mean, I would always pay 0.0001 BTC for each spend cause they never exceed 1.000kb.
Hoping in a fast reply  Roll Eyes

You can't, the reference implementation wallet always pays some-amount-per-1000-bytes-of-the-transaction.

The rules for the 0.10 release are:

+ By default, you always pay a fee (this is different from previous releases that would send transactions without a fee if they had high enough priority)  (run with -sendfreetransactions=1 to get the old behavior of sending high-priority transactions without a fee)
+ By default, the fee-per-kilobyte is estimated based on recent transaction confirmation history.

To get close to what you want (pay a fixed fee per transaction), run with -paytxfee=0.whatever  : that tells the wallet code to pay 0.whatever BTC per 1000 bytes. Most transactions are about 500 bytes big.

See here:  http://core2.bitcoincore.org/smartfee/fee_graph.html  ... for how high to make -paytxfee=0.whatever based on how long you're willing to wait for the first confirmation (that page graphs estimates from the latest&greatest fee estimation code from Alex Morcos that will hopefully be in the 0.11 Bitcoin Core release).


I'm now having full control of fees through:

  • getbalance
  • listunspent
  • createrawtransactions
  • signrawtransaction
  • sendrawtransaction

Previous method was working fine but when change addresses (inputs) were too much I started spending more than 0.0001 BTC, complete chaos  Shocked
However now's everything ok with new functions  Wink


So you are not using change addresses now? Or only a few specific change addresses? I'm no expert but I wonder if that would be totally safe? I guess maybe if anonymity isn't the goal...

My software needs to be as transparent as possible, that's the goal yes. Change address is always the same spent input  Wink
Testnet example: https://www.blocktrail.com/tBTC/address/mzkKmWG9Sj4duFDzHQMvwEvt1S8f3K56sm
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