Suggest a fee if you were in my shoes

[Izlude]

Transaction fees are scary 0.o

For reference: I'm using Preev and BTC-e for my bitcoin pricing.  I'm using bitcoin core 0.14.1 as a client.

Maybe I'm doing something wrong. I went to the gas station and bought $50 worth of bitcoins. I want to send $30 worth of these coins to BTC-e for a single Litecoin purchase, just to get back on my feet, it's been a while.  I'll buy more btc to stay as btc later, but for now I really want my hands on one ltc and to keep it there on the exchange.

The fee proposed by bitcoin core is 25 blocks (0.00265823) approximately $5 at this time. For a 20 minute transaction, it asks 2 blocks for 0.00424066 (approx $10).

So, for my attempt to send 0.01155 BTC ($30) to the exchange, and using the custom fee area in the bitcoin core client, how much would YOU attempt to put where it says per kilobyte, hoping for a 1-3 hour transaction?  Worst case, 7 hour, how much would you enter into the field?

[unsoindovo]

Transaction fees are scary 0.o

For reference: I'm using Preev and BTC-e for my bitcoin pricing.  I'm using bitcoin core 0.14.1 as a client.

Maybe I'm doing something wrong. I went to the gas station and bought $50 worth of bitcoins. I want to send $30 worth of these coins to BTC-e for a single Litecoin purchase, just to get back on my feet, it's been a while.  I'll buy more btc to stay as btc later, but for now I really want my hands on one ltc and to keep it there on the exchange.

The fee proposed by bitcoin core is 25 blocks (0.00265823) approximately $5 at this time. For a 20 minute transaction, it asks 2 blocks for 0.00424066 (approx $10).

So, for my attempt to send 0.01155 BTC ($30) to the exchange, and using the custom fee area in the bitcoin core client, how much would YOU attempt to put where it says per kilobyte, hoping for a 1-3 hour transaction?  Worst case, 7 hour, how much would you enter into the field?

this is damn high!!!
I think a quick solution to fix this problem should be found!
A lot of small miners, bitcoins and bitcoin miners, are killed by this greedy fee

[Izlude]

I bit the bullet and did "pay only the required fee of 0.00001000 BTC."
-Sent at 5:13PM  6/5/2017.
-Amount: 0.01128000 BTC, approx $30 according to BTC-e's estimate at the time.   
-Fee of 0.00000226 BTC [0.225 kB] was attached. (less than a penny).
-For this transaction, 3 confirmations are required.

I'll update you when, if ever, the transaction is confirmed. Good night!!!

[kolloh]

I bit the bullet and did "pay only the required fee of 0.00001000 BTC."
-Sent at 5:13PM  6/5/2017.
-Amount: 0.01128000 BTC, approx $30 according to BTC-e's estimate at the time.   
-Fee of 0.00000226 BTC [0.225 kB] was attached. (less than a penny).
-For this transaction, 3 confirmations are required.

I'll update you when, if ever, the transaction is confirmed. Good night!!!

I doubt that transaction will confirm as that fee is way too low.

I recommend you take a look at http://bitcoinfees.21.co/ and you can see the suggested fees based on current levels of unconfirmed transactions. Each block takes on average 10 minutes, so 25 blocks would take on average about 250 minutes but could end up taking a lot longer as well.

Unfortunately, bitcoin fees are absurdly high at the moment so hopefully they can determine a good method of reducing them so they aren't so costly.

[Izlude]

Hi thanks for the input, that site is very insightful. Do you think I should initiate a double spend from the bitcoin core wallet?  (-zapwallettxes) and spend the full balance with a higher fee?  It was 0.01765300 to begin with,  originally tried sending 0.01128000 (got stuck).

[cyyap95]

Hi thanks for the input, that site is very insightful. Do you think I should initiate a double spend from the bitcoin core wallet?  (-zapwallettxes) and spend the full balance with a higher fee?  It was 0.01765300 to begin with,  originally tried sending 0.01128000 (got stuck).

If you're able to do that, better just do it, if not I doubt this transaction will be confirm anytime soon.
Alternatively you might want to take a look at my transaction accelerating services, thanks.

[Izlude]

Thanks cyyap95 I'll bookmark your services. My coins went through just fine, but lesson well learned >.>

[Velkro]

The fee proposed by bitcoin core is 25 blocks (0.00265823) approximately $5 at this time. For a 20 minute transaction, it asks 2 blocks for 0.00424066 (approx $10).

Way too high, always check unconfirmed transactions backlog. If its around 200 000 use higher fees, if its around 100 000 user lower and if its around 50 000 transactions use very low fees like 0.5$ etc.