Bitcoin transaction fees

[coinsgod]

How much are the bitcoin transaction fees? I've heard that it's about $5 or so?

[998kb]

Can you use this site?
https://bitcoinfees.21.co/
and
http://www.btcsatoshi.com

According to first site recommended fee is 45200 sat = 1.88$

[Erinwen]

Can you use this site?
https://bitcoinfees.21.co/
and
http://www.btcsatoshi.com

According to first site recommended fee is 45200 sat = 1.88$

Thank you for sharing this website, you helped me a lot

[coinsgod]

They talk about fees per byte. I don't understand this. Shouldn't the fees be the same if you are sending 1 Satoshi or 1 million BTC? It's all one transaction therefore take up the same amount of space.

[TryNinja]

They talk about fees per byte. I don't understand this. Shouldn't the fees be the same if you are sending 1 Satoshi or 1 million BTC? It's all one transaction therefore take up the same amount of space.

They are. The size of your transaction isn't based on the amount of Bitcoins you are sending, but on the amount of inputs and outputs of your transaction, which may make the transaction size bigger, therefore making your fee more expensive.

If you want to read more about the subject:
https://bitcoin.stackexchange.com/questions/1195/how-to-calculate-transaction-size-before-sending
https://www.reddit.com/r/Bitcoin/comments/5eecuq/what_determines_the_transaction_size_or_number_of/

[andthereyou]

How much are the bitcoin transaction fees? I've heard that it's about $5 or so?

I think that it depends on how much bitcoin you transact or in the site you want to have transactoin with.

Like for example in one site that I registered with to gain bitcoin.
the transaction fee was 50,000satoshis and up.

While today I talk with my colleague He said that the transaction fee was about 14USD in one of the site He want to have business with.

[coinsgod]

How much are the bitcoin transaction fees? I've heard that it's about $5 or so?

I think that it depends on how much bitcoin you transact or in the site you want to have transactoin with.

Like for example in one site that I registered with to gain bitcoin.
the transaction fee was 50,000satoshis and up.

While today I talk with my colleague He said that the transaction fee was about 14USD in one of the site He want to have business with.

$14 bucks? Holy shit! How it Bitcoin ever going to be something that peeps will use worldwide instead of cash when they have to pay $14 to buy a cup of coffee or some chewing gum at the shops? Bitcoin is doomed for failure if that's the case.

[Intensity]

Still cheaper then Western Union. 1 BTC would equal a $30 fee within the US, but <$2 for BTC seems more reasonable to me.

[Bells Julls]

How much is the deal with bitcoin? Has to have $ 5 exchange traded?

[buwaytress]

They talk about fees per byte. I don't understand this. Shouldn't the fees be the same if you are sending 1 Satoshi or 1 million BTC? It's all one transaction therefore take up the same amount of space.

Fees should be (and are) calculated based on satoshis per byte because each block a miner finds now can only store a maximum of 1 MB of data. More inputs and outputs (where your coins come from and where they are going to) generally increase the size of the transaction. At its leanest (1 input and 1 output), txs are around 250 bytes in size.

Think about it as paying miners to include your tx in limited blocks. This encourages me to consolidate payments, make fewer bigger spends in favour of multiple smaller ones. I take up less space and save on fees.

[BobBct]

It depends if you can make it faster, the higher you place fee the faster the transaction. it will maybe $0.15-etc.

[SavvyOli]

It depends if you can make it faster, the higher you place fee the faster the transaction. it will maybe $0.15-etc.

no wonder bitcoin is still relatively slower haha

[coinsgod]

It depends if you can make it faster, the higher you place fee the faster the transaction. it will maybe $0.15-etc.

So we have someone here saying it costs 15 cents for fast transactions and previously someone said their friend got charged $14. Surely someone is wrong. Doesn't really make any sense to me.

[Mockroach]

My $1 fee took 2 days to go through. My $2 fees take a few hours usually. In a few days once segwit starts, it will slowly go down to a few cents again.

[babarian]

How much are the bitcoin transaction fees? I've heard that it's about $5 or so?

Bitcoin transactions can occur if the amount of Bitcoin sent exceeds 0.01 BTC. Bitcoin in small quantities is given to miners as a form of reward for having entered and entered into blockchain. For now, the contents of the transaction are free, but for transactions that attract coins from many Bitcoin addresses so require a larger portion of data, it will incur very small transaction fees.
But the transaction I have ever done transaction fee is 0.03% of the transaction amount

[Micerker]

How much are the bitcoin transaction fees? I've heard that it's about $5 or so?

No one can know how much the bitcoin transaction fees can be.

[GTXminero]

Just for testing i transferred BTC worth $31.00 to another address. I adjusted the transaction fee slider to .000525 BTC. The transaction was done in less than 20 minutes.