Bitcoin Forum
October 07, 2024, 05:17:17 AM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: How to calculate transaction fee?  (Read 215 times)
summer209 (OP)
Newbie
*
Offline Offline

Activity: 46
Merit: 0


View Profile
October 30, 2017, 03:00:04 PM
 #1

Wiki says bitcoin transaction fee calculated by xBTC/kb, I was wondering if transact 100BTC and transact 1BTC will use the same bytes or different bytes?
OmegaStarScream
Staff
Legendary
*
Offline Offline

Activity: 3626
Merit: 6354



View Profile
October 30, 2017, 05:41:34 PM
 #2

The amount of the transaction is not needed in order to calculate the fees. In fact, sending 1 BTC could cost you less money If the 100 BTC you're trying to send was received in multiple small payments. A detailed explanation: https://support.earn.com/bitcoin/transactions-and-fees/how-do-i-calculate-my-transaction-fee

█▀▀▀











█▄▄▄
▀▀▀▀▀▀▀▀▀▀▀
e
▄▄▄▄▄▄▄▄▄▄▄
█████████████
████████████▄███
██▐███████▄█████▀
█████████▄████▀
███▐████▄███▀
████▐██████▀
█████▀█████
███████████▄
████████████▄
██▄█████▀█████▄
▄█████████▀█████▀
███████████▀██▀
████▀█████████
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
c.h.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
▀▀▀█











▄▄▄█
▄██████▄▄▄
█████████████▄▄
███████████████
███████████████
███████████████
███████████████
███░░█████████
███▌▐█████████
█████████████
███████████▀
██████████▀
████████▀
▀██▀▀
fabioganga
Full Member
***
Offline Offline

Activity: 478
Merit: 113



View Profile WWW
October 30, 2017, 07:01:43 PM
 #3

Wiki says bitcoin transaction fee calculated by xBTC/kb, I was wondering if transact 100BTC and transact 1BTC will use the same bytes or different bytes?

it all depends on how the balance of our BTC has been received. If you receive, let's say, 1BTC in one single transaction and then at some point in the future you want to spend that 1 BTC you would pay much less fee than if it was made of 25 transactions of BTC 0.04 each.

That's because one transaction would have only one entry in the blockchain as opposed to 25 different smaller ones... So, it's not the amount in itself but rather how many blocks/transactions constitute the amount that we want to send.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!