Transaction Fee

[turvarya]

Hi,

i tried to pay with bitcoins for the first time today. I got 0.1 BTC from mining and a lot of change from free bitcoin-sites. I am using Bitcoing-qt and when I tried to send 0.1 BTC,the client told me, it would be about 0.0045 transaction fee.
So, is there a way to avoid that fee? Seems like a lot for a starter

thanks in advance.

[helgabutters]

Bitcoin transaction fees are voluntary but they help promote the network and miners. Different wallets may require you to include a fee while others can be configured without one.

[nobbynobbynoob]

The standard transaction fee, when the client requests it, is BTC0,0005 (50k satoshi or 500 µBTC). I suspect your client is trying to merge the smaller inputs in that transaction, and that involves more data, hence the higher fee (there is a formula based on "coin age" used to calculate the fee and need for a fee). It's still "only" 4,5%, not terrible. If you wish to economize, put it on hold until you want to make another transaction, click the Add Recipient button in Bitcoin-Qt -> Send coins, and send multiple transactions at the same time, for a similar-sized fee.

[Massage4BTC]

Yea, the transaction fees will probably need to be recalculated because BTC price is rising too fast