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Author Topic: Questions about transaction fees  (Read 635 times)
neuromancer56 (OP)
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July 06, 2013, 12:15:40 PM
 #1

I read the standard transaction fee info at  https://en.bitcoin.it/wiki/Transaction_fees

But I still have a few questions:
•   What happens if you do not send the full standard .0005 BTC transaction fee?  How long is the confirmation typically delayed?
•   What happens if you send no transaction fee? How long is the confirmation typically delayed?
(Put another way, is it just a dumb idea to not include the standard transaction fee?  Is it possible for a transaction to permanently get stuck in limbo?)
•   Suppose the total coins you need to send exceeds the value of your individual addresses.  If you send out 1 combined amount from multiple addresses at the same time are you charged multiple transaction fees or just 1 fee?  (It sounds like you could easily combine less than 20 source addresses and get away with using just one .0005 BTC fee)
•   When getting change back for sending out too much,  does the change go to a different address automatically in all wallets? (my guess is: no, but it is possible?)
•   Is there a separate transaction fee needed when the change goes to a different address (a new change address) than the original sending address?  (my guess is: no)
•   Can you send from one address to multiple for 1 standard fee with having it be delayed? (my guess is: no)
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July 06, 2013, 01:13:27 PM
 #2

They are 0.0001 multiples now.

Depends on the transaction priority. Hard to say and is very variable.

Multiple inputs increase the size of your tx so you may pay a higher fee

TX fee is based on size primarily because that is what matters. So for everything if it increases the size yes, otherwise no
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July 06, 2013, 01:21:14 PM
 #3

As far as the change address goes - it needs to be specified (even it is the same as one of the original UTXOs).

Someone had suggested a while back a method for making a tx smaller by having the change address being identified from the UTXO set but I am pretty sure that it was not looked at positively for reasons of privacy (i.e. reducing it) and complexity (how to handle things like M of N transactions).

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July 06, 2013, 04:37:20 PM
 #4

It should be called transaction Bids because the miners are bidding who can go cheapest.
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