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Author Topic: Bitcoin server - set minimum transaction fee  (Read 2794 times)
supermoney (OP)
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March 30, 2015, 07:37:41 AM
Last edit: April 13, 2015, 10:53:29 PM by supermoney
Merited by ABCbits (2)
 #1

Hello fellows!
I'm actually running bitcoind server to receive and send transaction through my own software.
Transaction size of my spends are always near to 100kb/500kb, so how do I set a minimum/pseudo-fixed transaction fee in my bitcoin.conf/software? If you haven't figured out yet what I mean, I would always pay 0.0001 BTC for each spend cause they never exceed 1.000kb.
Hoping in a fast reply  Roll Eyes

(SELF MADE) MOMENTANEOUS WORKAROUND:

Unfortunately, none of these works. How's that possible? What I'm doing wrong?

Are you testing any of these on the Mainnet?

No because I do not have enough bitcoins. However, I've seen many sending with "pseudo-fixed" fees on testnet too.

It's my understanding that testnet does not require any fees. This may be lending to your problem.

Also surely you have enough Bitcoin to test some 0.0001 sending fees. Just send them somewhere and bring them back (such as to Coinbase, etc).

Testnet requires fees too!
Then how do miners mine those bitcoins?  Grin
Whatever, I've finally found the parameter: minrelaytxfee = <amount>
TX example: http://tbtc.blockr.io/tx/info/90e8519b747117df73cd244d40b26c7ab3e962fbd7b3106bfa9995da85c072e2

(SELF MADE) DEFINITIVE SOLUTION:

Hello fellows!
I'm actually running bitcoind server to receive and send transaction through my own software.
Transaction size of my spends are always near to 100kb/500kb, so how do I set a minimum/pseudo-fixed transaction fee in my bitcoin.conf/software? If you haven't figured out yet what I mean, I would always pay 0.0001 BTC for each spend cause they never exceed 1.000kb.
Hoping in a fast reply  Roll Eyes

You can't, the reference implementation wallet always pays some-amount-per-1000-bytes-of-the-transaction.

The rules for the 0.10 release are:

+ By default, you always pay a fee (this is different from previous releases that would send transactions without a fee if they had high enough priority)  (run with -sendfreetransactions=1 to get the old behavior of sending high-priority transactions without a fee)
+ By default, the fee-per-kilobyte is estimated based on recent transaction confirmation history.

To get close to what you want (pay a fixed fee per transaction), run with -paytxfee=0.whatever  : that tells the wallet code to pay 0.whatever BTC per 1000 bytes. Most transactions are about 500 bytes big.

See here:  http://core2.bitcoincore.org/smartfee/fee_graph.html  ... for how high to make -paytxfee=0.whatever based on how long you're willing to wait for the first confirmation (that page graphs estimates from the latest&greatest fee estimation code from Alex Morcos that will hopefully be in the 0.11 Bitcoin Core release).


I'm now having full control of fees through:

  • getbalance
  • listunspent
  • createrawtransactions
  • signrawtransaction
  • sendrawtransaction

Previous method was working fine but when change addresses (inputs) were too much I started spending more than 0.0001 BTC, complete chaos  Shocked
However now's everything ok with new functions  Wink

supermoney (OP)
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March 30, 2015, 11:56:57 AM
 #2

UPDATE: I'm talking about the following setting:



Is there any way to enable it by default for the use of sendtoaddress, sendfrom or sendmany on bitcoind?
Amph
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March 30, 2015, 12:38:58 PM
 #3

couldn't you just set it with the custom option? what's the point of having that enabled by default?
supermoney (OP)
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March 30, 2015, 12:52:44 PM
 #4

couldn't you just set it with the custom option? what's the point of having that enabled by default?

Because I use RPC commands like sendmany on bitcoind server, that's why I need it set by default.
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March 30, 2015, 10:26:52 PM
 #5

Anybody?  Undecided
ncsupanda
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March 30, 2015, 10:35:59 PM
 #6

Anybody?  Undecided

Why don't you just say "settxfee 0.0001"?

It's my understanding that doing so will do exactly what you're asking.
supermoney (OP)
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March 30, 2015, 10:51:01 PM
 #7

Anybody?  Undecided

Why don't you just say "settxfee 0.0001"?

It's my understanding that doing so will do exactly what you're asking.

I've already tried it on Bitcoin testnet but still sending different fees, eg: http://tbtc.blockr.io/tx/info/08209cee9b4d506cd6c31f20a9e4274cafe4b3ed7ada51ee968feefc4c708822

ncsupanda
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March 30, 2015, 10:57:38 PM
 #8

Anybody?  Undecided

Why don't you just say "settxfee 0.0001"?

It's my understanding that doing so will do exactly what you're asking.

I've already tried it on Bitcoin testnet but still sending different fees, eg: http://tbtc.blockr.io/tx/info/08209cee9b4d506cd6c31f20a9e4274cafe4b3ed7ada51ee968feefc4c708822



I've only ever done this directly from the console - actually typing in the  settxfee 0.0001 rather than putting it into the conf file.

Then try sending a number of transactions and see what happens.
supermoney (OP)
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March 30, 2015, 11:03:39 PM
 #9

Anybody?  Undecided

Why don't you just say "settxfee 0.0001"?

It's my understanding that doing so will do exactly what you're asking.

I've already tried it on Bitcoin testnet but still sending different fees, eg: http://tbtc.blockr.io/tx/info/08209cee9b4d506cd6c31f20a9e4274cafe4b3ed7ada51ee968feefc4c708822



I've only ever done this directly from the console - actually typing in the  settxfee 0.0001 rather than putting it into the conf file.

Then try sending a number of transactions and see what happens.

Well done mate, I try the command via console.. Fingers crossed!  Roll Eyes
ncsupanda
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March 30, 2015, 11:05:35 PM
 #10

Anybody?  Undecided

Why don't you just say "settxfee 0.0001"?

It's my understanding that doing so will do exactly what you're asking.

I've already tried it on Bitcoin testnet but still sending different fees, eg: http://tbtc.blockr.io/tx/info/08209cee9b4d506cd6c31f20a9e4274cafe4b3ed7ada51ee968feefc4c708822



I've only ever done this directly from the console - actually typing in the  settxfee 0.0001 rather than putting it into the conf file.

Then try sending a number of transactions and see what happens.

Well done mate, I try the command via console.. Fingers crossed!  Roll Eyes

Here's something from the .conf wiki page that should help:

 paytxfee=0.0001
supermoney (OP)
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March 30, 2015, 11:24:57 PM
 #11

Anybody?  Undecided

Why don't you just say "settxfee 0.0001"?

It's my understanding that doing so will do exactly what you're asking.

I've already tried it on Bitcoin testnet but still sending different fees, eg: http://tbtc.blockr.io/tx/info/08209cee9b4d506cd6c31f20a9e4274cafe4b3ed7ada51ee968feefc4c708822



I've only ever done this directly from the console - actually typing in the  settxfee 0.0001 rather than putting it into the conf file.

Then try sending a number of transactions and see what happens.

Well done mate, I try the command via console.. Fingers crossed!  Roll Eyes

Here's something from the .conf wiki page that should help:

 paytxfee=0.0001

settxfee and paytxfee both not working. I'm now trying mintxfee  Angry
supermoney (OP)
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March 30, 2015, 11:39:59 PM
 #12

Unfortunately, none of these works. How's that possible? What I'm doing wrong?
ncsupanda
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March 30, 2015, 11:43:13 PM
 #13

Unfortunately, none of these works. How's that possible? What I'm doing wrong?

Are you testing any of these on the Mainnet?
supermoney (OP)
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March 30, 2015, 11:45:39 PM
 #14

Unfortunately, none of these works. How's that possible? What I'm doing wrong?

Are you testing any of these on the Mainnet?

No because I do not have enough bitcoins. However, I've seen many sending with "pseudo-fixed" fees on testnet too.
ncsupanda
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March 30, 2015, 11:57:28 PM
 #15

Unfortunately, none of these works. How's that possible? What I'm doing wrong?

Are you testing any of these on the Mainnet?

No because I do not have enough bitcoins. However, I've seen many sending with "pseudo-fixed" fees on testnet too.

It's my understanding that testnet does not require any fees. This may be lending to your problem.

Also surely you have enough Bitcoin to test some 0.0001 sending fees. Just send them somewhere and bring them back (such as to Coinbase, etc).
supermoney (OP)
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March 31, 2015, 12:09:56 AM
 #16

Unfortunately, none of these works. How's that possible? What I'm doing wrong?

Are you testing any of these on the Mainnet?

No because I do not have enough bitcoins. However, I've seen many sending with "pseudo-fixed" fees on testnet too.

It's my understanding that testnet does not require any fees. This may be lending to your problem.

Also surely you have enough Bitcoin to test some 0.0001 sending fees. Just send them somewhere and bring them back (such as to Coinbase, etc).

Testnet requires fees too!
Then how do miners mine those bitcoins?  Grin
Whatever, I've finally found the parameter: minrelaytxfee = <amount>
TX example: http://tbtc.blockr.io/tx/info/90e8519b747117df73cd244d40b26c7ab3e962fbd7b3106bfa9995da85c072e2

coinpr0n
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March 31, 2015, 12:18:03 AM
 #17

My understanding was mintxfee would do the trick. An older thread talks about how it was left out from the documentation to prevent tinkering much with it (source). But I'm not sure how 0.10 might be handling this differently.

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March 31, 2015, 12:21:16 AM
 #18

https://bitcointalk.org/index.php?topic=719967.0

Glad you found your fix.
supermoney (OP)
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March 31, 2015, 12:25:42 AM
 #19

My understanding was mintxfee would do the trick. An older thread talks about how it was left out from the documentation to prevent tinkering much with it (source). But I'm not sure how 0.10 might be handling this differently.

Hold on, MultiBit client is doing the same with minimum 0.0001 BTC per 1.000kb, how come?


Thank you for your help, I didn't know that! Shocked
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March 31, 2015, 10:36:15 AM
 #20


Yeah, thanks for that thread link. I didn't know that the Testnet didn't require fees. That makes sense I guess.

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