0.005 BTC send + 0.0012 BTC fee ... why to much? explain please...

[molly777]

Hi... I send 0.005 BTC to cloud mining and total amount send was 0.0062 (that is 0.0012 fee). It's really a lot ... I study the fees a little and discover that will be fee because it's less than 0.01 but really to much? Can be the fee too high because i receive a lot of transactions what are small as 60 bits? Please explain me it a little bit and please tell me how to avoid it in the future. Thanks a lot.

Hash: https://blockchain.info/tx/cb8337e6635fadf423bb19fb4f8e2b147e85ccb8a41c8f1cff16d532be8f2052

Sended from blockchain wallet to scrypt.cc and I don't fill miners fee.

[1715681888]

1715681888

[1715681888]

1715681888

[eyeknock]

well yes i suffer the same when i was using faucets, i think that is because you have lot of small inc transactions to one btc address, so when you need to send money from there you need to pay more fees, dunno if im wrong, but since i dont have lot of inc transactions my fee is normal, like 10k.

[molly777]

So now I set faucetbox to send me BTC only if it reaches 0.2 BTC... did you think it will help? I read that if you want to send for example 0.1 BTC and you have not received any single input of that value or higher then it must collect from many small inputs (for example 60 bits - 100 bits) and in that case the fee is high. It's true? Or I must next time to fill the miners fee?

[BlackMachine]

Hi... I send 0.005 BTC to cloud mining and total amount send was 0.0062 (that is 0.0012 fee). It's really a lot ... I study the fees a little and discover that will be fee because it's less than 0.01 but really to much? Can be the fee too high because i receive a lot of transactions what are small as 60 bits? Please explain me it a little bit and please tell me how to avoid it in the future. Thanks a lot.

Hash: https://blockchain.info/tx/cb8337e6635fadf423bb19fb4f8e2b147e85ccb8a41c8f1cff16d532be8f2052

Sended from blockchain wallet to scrypt.cc and I don't fill miners fee.

If you were to click show scripts and coinbase, you will find lots of inputs. The main reason you are paying so much transaction fees is due to the fact that the transaction size is HUGE. If you want to avoid these fees, combine some transactions into one single transaction first then combine again till it becomes 1 transaction. It can cost you some time but the fees will be significantly lower. Alternatively, set a higher thershold for faucets or you can stop using them altogether. Default fees is 0.00001/kb.

[molly777]

Hmm... Ok but I send it only to one address only in one transaction so why it sending it in too much parts?

[OnkelPaul]

So now I set faucetbox to send me BTC only if it reaches 0.2 BTC...

0.2 is probably much too high - you will virtually wait forever to get a payout.
0.01 might be reasonable, I think it would result in less than 1% fees for most cases.
The recommended fee is about 0.0001 BTC per kbyte of transaction data. One kbyte will normally be enough to handle a number of those small inputs, so for sending anything from 0.01 to maybe 0.15 BTC your fee would be 0.0001.

Onkel Paul

[BlackMachine]

So now I set faucetbox to send me BTC only if it reaches 0.2 BTC...

0.2 is probably much too high - you will virtually wait forever to get a payout.
0.01 might be reasonable, I think it would result in less than 1% fees for most cases.
The recommended fee is about 0.0001 BTC per kbyte of transaction data. One kbyte will normally be enough to handle a number of those small inputs, so for sending anything from 0.01 to maybe 0.15 BTC your fee would be 0.0001.

Onkel Paul

It is actually 0.00001 for nodes to relay your transaction.

If you want a free transaction, leave the inputs there for a while. If the priority is high enough and size is small enough, you can send a no fee transaction.

[molly777]

Thank you ... now I think I understand it ... it send TRANSACTION what I previously receive and because I receive a lot of them and all was small amount then it need to send a lot of parts = lot of fee.

[shorena]

Hmm... Ok but I send it only to one address only in one transaction so why it sending it in too much parts?

Inputs are created for each transaction you receive. The address you receive the inputs on do not matter. You dont have a balance of bitcoin even though your wallet (or service like blockchain.info) is showing it to you like that. You have different inputs you can use. Every time you receive bitcoin through a transaction an unspend input is created. When you later use(spend) that input it needs ~180 byte as part of your transaction and (once confirmed) as part of the blockchain. The more inputs, the bigger the TX, the higher the fee. Its a typical faucet[1] or micro transaction problem and a common workaround is to do less frequent payouts or to combine micro payments.

-snip-
It is actually 0.00001 for nodes to relay your transaction.

No! As the owner of a node thats merely relaying transaction I can assure you that there is no such thing as a relay fee.

If you want a free transaction, leave the inputs there for a while. If the priority is high enough and size is small enough, you can send a no fee transaction.

This is very bad advice considering the inputs used. E.g. one of the inputs was 0.0000864 BTC which would take ~11k days to get a reasonable high priority in order to be send without fee.

[1] see this thread for more: https://bitcointalk.org/index.php?topic=1044399.0

[BlackMachine]

-snip

-snip-
It is actually 0.00001 for nodes to relay your transaction.

No! As the owner of a node thats merely relaying transaction I can assure you that there is no such thing as a relay fee.

If you want a free transaction, leave the inputs there for a while. If the priority is high enough and size is small enough, you can send a no fee transaction.

This is very bad advice considering the inputs used. E.g. one of the inputs was 0.0000864 BTC which would take ~11k days to get a reasonable high priority in order to be send without fee.

[1] see this thread for more: https://bitcointalk.org/index.php?topic=1044399.0
-snip-

1) I was referring to the minimum TX fee for Bitcoin Core (V 0.10) nodes to relay the transaction. Sorry for mixing it up.
2) I was referring to OnkelPaul's advice of the 0.01BTC withdrawal thershold.

[shorena]

-snip-
1) I was referring to the minimum TX fee for Bitcoin Core (V 0.10) nodes to relay the transaction. Sorry for mixing it up.

Alright, I didnt get that.

2) I was referring to OnkelPaul's advice of the 0.01BTC withdrawal thershold.

Still 100 days to get a reasonable priority. Forget waiting for priority with faucet income, just suck it up and pay the fee. You should probably consider ~10% of your faucet income a fee you have to pay when you try to spend the funds anyway. Alternativly you can be an arse and try to pass the costs along to a casino or another service that has a fixed withdrawal fee. They get your 100's of inputs and have to deal with them while you pay the same withdrawal fee as everyone else. Its not nice, but its a possible solution for the mess.

[HeroCat]

I do not think, you can avoid the fee 0.0001 BTC. If you pay less, your BTC transfer time will not be instant, it can be a much longer. I would not suggest to do that 

[molly777]

So I tested it right now ... I send 0.003 and set fee to 0.0001 and pay only 0.0031. Great ... Confirmed in 16 minutes.

https://blockchain.info/tx/471bfc1ef32b5d5306e5cfbe6a34baefc60b7daac0a6f56de8f23ffdeb022467

[shorena]

So I tested it right now ... I send 0.003 and set fee to 0.0001 and pay only 0.0031. Great ... Confirmed in 16 minutes.

https://blockchain.info/tx/471bfc1ef32b5d5306e5cfbe6a34baefc60b7daac0a6f56de8f23ffdeb022467

It used only two inputs and thus the fee "normal" was perfectly fine.

https://blockchain.info/tx/471bfc1ef32b5d5306e5cfbe6a34baefc60b7daac0a6f56de8f23ffdeb022467?show_adv=true

[moriartybitcoin]

Hi... I send 0.005 BTC to cloud mining and total amount send was 0.0062 (that is 0.0012 fee). It's really a lot ... I study the fees a little and discover that will be fee because it's less than 0.01 but really to much? Can be the fee too high because i receive a lot of transactions what are small as 60 bits? Please explain me it a little bit and please tell me how to avoid it in the future. Thanks a lot.

Hash: https://blockchain.info/tx/cb8337e6635fadf423bb19fb4f8e2b147e85ccb8a41c8f1cff16d532be8f2052

Sended from blockchain wallet to scrypt.cc and I don't fill miners fee.

i can see most of your coins is from little transactions, so it means you use too many inputs for that transaction you gave, means you will need to pay more fees

[BITCOINERSEJATI]

Hi... I send 0.005 BTC to cloud mining and total amount send was 0.0062 (that is 0.0012 fee). It's really a lot ... I study the fees a little and discover that will be fee because it's less than 0.01 but really to much? Can be the fee too high because i receive a lot of transactions what are small as 60 bits? Please explain me it a little bit and please tell me how to avoid it in the future. Thanks a lot.

Hash: https://blockchain.info/tx/cb8337e6635fadf423bb19fb4f8e2b147e85ccb8a41c8f1cff16d532be8f2052

Sended from blockchain wallet to scrypt.cc and I don't fill miners fee.

you can set miner fee
Open your wallet than click custom and fill miner fee you want, also you can set 0satosi fee but iam recomended 10k satosi or 0.0001BTC

[subSTRATA]

most likely your funds were mostly accumulated "dust" and with the number of outputs, the transaction size was incredibly large, causing your tx fee to be that high.

size of tx: ((numberOfInputs*148)+(numberOfOutputs*34)+10)

[ranochigo]

Hi... I send 0.005 BTC to cloud mining and total amount send was 0.0062 (that is 0.0012 fee). It's really a lot ... I study the fees a little and discover that will be fee because it's less than 0.01 but really to much? Can be the fee too high because i receive a lot of transactions what are small as 60 bits? Please explain me it a little bit and please tell me how to avoid it in the future. Thanks a lot.

Hash: https://blockchain.info/tx/cb8337e6635fadf423bb19fb4f8e2b147e85ccb8a41c8f1cff16d532be8f2052

Sended from blockchain wallet to scrypt.cc and I don't fill miners fee.

you can set miner fee
Open your wallet than click custom and fill miner fee you want, also you can set 0satosi fee but iam recomended 10k satosi or 0.0001BTC

0.0001 fee for a nearly 10kb transaction would never be enough. If I calculate correctly, the priority is 2,367,898. This transaction will not qualify for the 50kb max space in the block qualified for the high priority transactions. Hence, it would have to depend on the fees/kb if it pays 0.00001/kb, the transaction would be rank at the bottom. Please correct me if I'm wrong.

[molly777]

Ok ... now everything works perfectly. Thanks you all for your help. Problem was solved but if you want continue with discussion about recommended fees. Maybe it helps to others who read it.

[Snorek]

Ok ... now everything works perfectly. Thanks you all for your help. Problem was solved but if you want continue with discussion about recommended fees. Maybe it helps to others who read it.

Yep you are right. I didn't know that having a lot of 'dust' in your wallet would bite you in the ass, after reading this thread I know. Also, one another reason to not use faucets.
In my wallet transaction fee is set to 0.00000000 and I never pay it, yet transactions are processed - fast and without problems, is that normally possible? Maybe my wallet is taking fee stealthily?

[el kaka22]

If you want to decrease your fees, you can set the custom fee from 0.0001 per KB to 0.00001 per KB. If your wallet don't allow you to set that (like the Android wallet), then use another wallet (like blockchain.info that I'm using). I am setting the custom fee of 1000 satoshi per tx and it can confirm much faster than 0 fees. For your tx, it only need 0.0001 BTC as fees if you use that function.

[Muhammed Zakir]

-snip- then use another wallet (like blockchain.info that I'm using).

Move your coins out of Blockchain.info wallet. https://bitcointalk.org/index.php?topic=1085983.0;all

For your tx, it only need 0.0001 BTC as fees if you use that function.

Have you checked his transaction? He has a lot of inputs which increase fee.

[pooya87]

Ok ... now everything works perfectly. Thanks you all for your help. Problem was solved but if you want continue with discussion about recommended fees. Maybe it helps to others who read it.

Yep you are right. I didn't know that having a lot of 'dust' in your wallet would bite you in the ass, after reading this thread I know. Also, one another reason to not use faucets.
In my wallet transaction fee is set to 0.00000000 and I never pay it, yet transactions are processed - fast and without problems, is that normally possible? Maybe my wallet is taking fee stealthily?

it depends on the priority of the transaction that you are sending. you have to include some transactions to be able to say for sure but they being confirmed fast might be because they have enough high priority that are included in the block, maybe due to small size.
i doubt that wallets include fees stealthy. and you can always check your address and see if your transactions have fees or not in an online block explorer like bci

[iram66680]

Ok ... now everything works perfectly. Thanks you all for your help. Problem was solved but if you want continue with discussion about recommended fees. Maybe it helps to others who read it.

Yep you are right. I didn't know that having a lot of 'dust' in your wallet would bite you in the ass, after reading this thread I know. Also, one another reason to not use faucets.
In my wallet transaction fee is set to 0.00000000 and I never pay it, yet transactions are processed - fast and without problems, is that normally possible? Maybe my wallet is taking fee stealthily?

it depends on the priority of the transaction that you are sending. you have to include some transactions to be able to say for sure but they being confirmed fast might be because they have enough high priority that are included in the block, maybe due to small size.
i doubt that wallets include fees stealthy. and you can always check your address and see if your transactions have fees or not in an online block explorer like bci

the claim about it confirming fast might be one to two days. since only 50kilobytes in blocks are for transaction with high priority.
Either:
1. his coins have very high priority everytime. this is hardly possible since coin age is decreased everytime the input is spent.
2. his client is bugged and pays fees for him or the client automatically pays the fees for him

[el kaka22]

-snip- then use another wallet (like blockchain.info that I'm using).

Move your coins out of Blockchain.info wallet. https://bitcointalk.org/index.php?topic=1085983.0;all

Which wallet can I use? I use my bitcoins on my phone, but I have bad experience using the Android wallet.

For your tx, it only need 0.0001 BTC as fees if you use that function.

Have you checked his transaction? He has a lot of inputs which increase fee.

I've checked his tx and it is at 9xxx bytes large, according to the rule of 0.00001 per KB, then the fee is 0.0001.

[iram66680]

-snip- then use another wallet (like blockchain.info that I'm using).

Move your coins out of Blockchain.info wallet. https://bitcointalk.org/index.php?topic=1085983.0;all

Which wallet can I use? I use my bitcoins on my phone, but I have bad experience using the Android wallet.

For your tx, it only need 0.0001 BTC as fees if you use that function.

Have you checked his transaction? He has a lot of inputs which increase fee.

I've checked his tx and it is at 9xxx bytes large, according to the rule of 0.00001 per KB, then the fee is 0.0001.

Electrum, armory are a few of the best choice, look at https://bitcoin.org/en/choose-your-wallet for more specific wallets for your operating systems.

If the fee is at 0.00001, the transaction is likely not to be confirmed within a short time. The transaction has low priority due to the size and coin age. The transaction fee is the only thing to help to speed up by pushing it infront of the queue or it may be included in the miners who force 0.0001 fee/kilobyte.

[erikalui]

Use Xapo instead and you don't need to worry about the transaction fee as it's free.

Blockchain is ridiculous when it comes to fees especially when you receive money from faucets. They charged me $0.6 fee when I had to send just $1 from my wallet and hence I stopped using faucets long back due to this issue and now I only use Xapo.

The regular fee of Blockchain if you receive big amounts (>$1) is 0.0001 ($0.02) which is OK.

[iram66680]

Use Xapo instead and you don't need to worry about the transaction fee as it's free.

Blockchain is ridiculous when it comes to fees especially when you receive money from faucets. They charged me $0.6 fee when I had to send just $1 from my wallet and hence I stopped using faucets long back due to this issue and now I only use Xapo.

The regular fee of Blockchain if you receive big amounts (>$1) is 0.0001 ($0.02) which is OK.

Xapo stores all your coins at a central address and won't care about how big is the transaction from your wallet as they don't need the funds to confirm easily. They have a big reserve behind them. And, Xapo is not secure enough. Bc.info is not too. But, Xapo can always run away with your funds on their hand. At least Bc.info can't run away with your funds on their hand.

[el kaka22]

I don't trust sites that don't give me full control of the address as they could scam me (even it had reputation). At blockchain.info, I can get my address' private key as a back up.
Also, I can set custom fee to 0.00001 at blockchain.info, so why I'm using it now.
About electrum, how can I use it on Android phone?

[erikalui]

Use Xapo instead and you don't need to worry about the transaction fee as it's free.

Blockchain is ridiculous when it comes to fees especially when you receive money from faucets. They charged me $0.6 fee when I had to send just $1 from my wallet and hence I stopped using faucets long back due to this issue and now I only use Xapo.

The regular fee of Blockchain if you receive big amounts (>$1) is 0.0001 ($0.02) which is OK.

Xapo stores all your coins at a central address and won't care about how big is the transaction from your wallet as they don't need the funds to confirm easily. They have a big reserve behind them. And, Xapo is not secure enough. Bc.info is not too. But, Xapo can always run away with your funds on their hand. At least Bc.info can't run away with your funds on their hand.

Why blockchain can't shut down? Xapo also makes a user to verify their mobile number while Blockchain.info has no verification process. Xapo has introduced their own debit card as well and seem to be much more reliable than BC.info.

[el kaka22]

Use Xapo instead and you don't need to worry about the transaction fee as it's free.

Blockchain is ridiculous when it comes to fees especially when you receive money from faucets. They charged me $0.6 fee when I had to send just $1 from my wallet and hence I stopped using faucets long back due to this issue and now I only use Xapo.

The regular fee of Blockchain if you receive big amounts (>$1) is 0.0001 ($0.02) which is OK.

Xapo stores all your coins at a central address and won't care about how big is the transaction from your wallet as they don't need the funds to confirm easily. They have a big reserve behind them. And, Xapo is not secure enough. Bc.info is not too. But, Xapo can always run away with your funds on their hand. At least Bc.info can't run away with your funds on their hand.

Why blockchain can't shut down? Xapo also makes a user to verify their mobile number while Blockchain.info has no verification process. Xapo has introduced their own debit card as well and seem to be much more reliable than BC.info.

Blockchain.info have a email verification in every login in my case. It will be secure if the email account is also secure.
I do have xapo wallet, and used it for faucet payouts. However since I was one of the early adopter to that site, I had an experience there that the minimum withdrawal is 0.001 BTC. Also they charge nothing to withdrawals while they pay 0.0001 to the miners actually. They are losing money on that. I doubt their consistency.

[BITCOINERSEJATI]

Use Xapo instead and you don't need to worry about the transaction fee as it's free.

Blockchain is ridiculous when it comes to fees especially when you receive money from faucets. They charged me $0.6 fee when I had to send just $1 from my wallet and hence I stopped using faucets long back due to this issue and now I only use Xapo.

The regular fee of Blockchain if you receive big amounts (>$1) is 0.0001 ($0.02) which is OK.

Xapo stores all your coins at a central address and won't care about how big is the transaction from your wallet as they don't need the funds to confirm easily. They have a big reserve behind them. And, Xapo is not secure enough. Bc.info is not too. But, Xapo can always run away with your funds on their hand. At least Bc.info can't run away with your funds on their hand.

Why blockchain can't shut down? Xapo also makes a user to verify their mobile number while Blockchain.info has no verification process. Xapo has introduced their own debit card as well and seem to be much more reliable than BC.info.

xapo is anonymous based, difficult to trace his purpose, that make some people like that

also i see yesterday some one not recomended using blockchain again, after maintenance and double spend problem

[ranochigo]

Use Xapo instead and you don't need to worry about the transaction fee as it's free.

Blockchain is ridiculous when it comes to fees especially when you receive money from faucets. They charged me $0.6 fee when I had to send just $1 from my wallet and hence I stopped using faucets long back due to this issue and now I only use Xapo.

The regular fee of Blockchain if you receive big amounts (>$1) is 0.0001 ($0.02) which is OK.

Xapo stores all your coins at a central address and won't care about how big is the transaction from your wallet as they don't need the funds to confirm easily. They have a big reserve behind them. And, Xapo is not secure enough. Bc.info is not too. But, Xapo can always run away with your funds on their hand. At least Bc.info can't run away with your funds on their hand.

Why blockchain can't shut down? Xapo also makes a user to verify their mobile number while Blockchain.info has no verification process. Xapo has introduced their own debit card as well and seem to be much more reliable than BC.info.

xapo is anonymous based, difficult to trace his purpose, that make some people like that

also i see yesterday some one not recomended using blockchain again, after maintenance and double spend problem

Since when? Xapo has never been anonymous at all. They do all kinds of verification while never promising any anonymity. It can log your IP at anytime. It can easily be traced too since they are done on a single server.

Blockchain.info has never had any double spend problem at all. The only problem they had that compromised the security was the flawed RNGs on two occasions which is the reason why everyone dislike blockchain.info.

[sandy47bt]

Well, that's why few people don't use faucet anymore. They will create huge transaction
But, good thing that you already move all small inputs. I bet the receiver will be mad

You could lower transaction fees, but it'll take longer time to get confirmed.
Or just use Xapo, they support instant transaction. But it's centralized

[ranochigo]

Well, that's why few people don't use faucet anymore. They will create huge transaction
But, good thing that you already move all small inputs. I bet the receiver will be mad
-snip-

There are faucets which run on the API provided by a service and they will consolidate the payments from different faucets into one block of transaction with the amount being the minimum withdrawal limit you or they specify.
I guess you don't quite understand the concept. The transaction consolidates all the small inputs into one output. With one output, the reciever wouldn't have to use much fees. The size from the previous transaction doesn't affect the size of the next transaction.

[mrhelpful]

Just letting you know that custom function is on most wallets.

Its also on the desktop wallets like btc-qt - click custom then set the amount to zero. It not completely zero now, but it`ll take almost next to nothing to send the btc and there isnt that much delay either which is the sad part.

[Muhammed Zakir]

-snip- then use another wallet (like blockchain.info that I'm using).

Move your coins out of Blockchain.info wallet. https://bitcointalk.org/index.php?topic=1085983.0;all

Which wallet can I use? I use my bitcoins on my phone, but I have bad experience using the Android wallet.
 -snip-

Bither - https://play.google.com/store/apps/details?id=net.bither&hl=en
Schildbach's Bitcoin Wallet - https://play.google.com/store/apps/details?id=de.schildbach.wallet
Mycelium - https://play.google.com/store/apps/details?id=com.mycelium.wallet
GreenAddress - https://play.google.com/store/apps/details?id=it.greenaddress.cordova

Use Xapo instead and you don't need to worry about the transaction fee as it's free.

Blockchain is ridiculous when it comes to fees especially when you receive money from faucets. They charged me $0.6 fee when I had to send just $1 from my wallet and hence I stopped using faucets long back due to this issue and now I only use Xapo.

The regular fee of Blockchain if you receive big amounts (>$1) is 0.0001 ($0.02) which is OK.

Xapo is not secure. You need to fully trust them with your money and that is not good. I recommend GreenAddress if you are going for an online wallet.