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Author Topic: So fees may apply to some transaction !!  (Read 1345 times)
virtualx
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June 07, 2015, 10:43:32 AM
 #21

Are people really concerned about a 2 cent charge?  You could cut that in half to 1 cent and your transactions would still be confirmed but it might take longer.  But running nodes costs some money, and they get the transaction fees right?  Or part of it?  So why not throw them some pennies, it costs almost nothing and supports a healthy bitcoin ecosystem.

I do not think people are concerned about 2 cent or the very small bitcoin fee unless they have very btc to send it the first place. Example:
transaction: 19 BTC
fee:    0.0001 BTC

That's not a lot of fee. Other payment systems have much higher fee.

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June 07, 2015, 11:50:01 AM
 #22

Are people really concerned about a 2 cent charge?  You could cut that in half to 1 cent and your transactions would still be confirmed but it might take longer.  But running nodes costs some money, and they get the transaction fees right?  Or part of it?  So why not throw them some pennies, it costs almost nothing and supports a healthy bitcoin ecosystem.

I believe people running nodes are doing so voluntarily (they get nothing), the transaction fee goes to the miners for confirming the transactions.

theres nothing here. message me if you want to put something here.
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June 08, 2015, 08:57:11 AM
 #23

I think for transactions of 0.01 you dont have to pay a fee as they are classified as high priority because of the large amount being sent, for transactions lower than that, what you can do (i also do it) is send your money at nights before you go to sleep with transaction fees of 2-5k sats, the savings add up over time

Not all transactions, and not always.

A transaction may be safely sent without fees if these conditions are met:

    It is smaller than 1,000 bytes.
    All outputs are 0.01 BTC or larger.
    Its priority is large enough (see the Technical Info section below)

https://en.bitcoin.it/wiki/Transaction_fees

Of course if the network is too crowded it might not be so safe
what do you mean not safe?! Cheesy

the only thing that can happen if you don't send a transaction with fees, is that it might take a very long time (even a week) to get confirmed.
you can double spend the coins if they are not confirmed anyways.
It's quite hard to double spend however. In the past, some nodes would relay whichever transaction with the most fees. However, in the recent versions, nodes have been starting to reject transaction which spends the same Unspent outputs (UXTO) with the transaction that they have in their mempool. The only way to resend it is to wait for the transaction to be forgotten by the node's mempool. Some clients re-relay your transactions after it has been forgotten however.

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