Lowering the transaction fee (2.5.4)

[basic212]

I am having trouble lowering the transaction fee to anything below 0.05. The issue is that I only have 0.0548 in my wallet, meaning that the majority of the amount I want to transfer will be eaten up in the fee. I know how to set the fee manually, but anything under 0.05 is met with an error that the fee is not high enough. I see lots of other links talking about fees of 0.0002 or even lower, but I can't get fees that low to work.

Can anyone shed some light on what's happening?

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[basic212]

I realized I had the base unit set to mBTC.  Changed it to BTC.

Now I have a balance of 0.00005388 BTC.  The lowest fee it will allow is 0.00005 BTC.  So I am in the same situation.

Am I right to guess that the balance I am trying to send is too small for the blockchain, and I need to add more BTC to my wallet to make the 0.000005 fee worthwhile?

[Quickseller]

Do you have a lot of very small inputs in your wallet? What is your xpubkey? (you should probably PM your xpubkey to me as opposed to posting it publicly due to privacy issues with posting your xpubkey)

edit: the fact that you have 0.00005388 BTC verses 0.0548 BTC changes things a lot. As a general rule I will not include a tx fee of lower then 0.0001BTC, and your wallet balance is less then 1/2 of that. (although if the transaction contains very little data, I sometimes am able to get away with including a smaller fee)

[basic212]

Thanks for the reply!

I'm just going to add more BTC to my wallet and go from there.

[ranochigo]

I realized I had the base unit set to mBTC.  Changed it to BTC.

Now I have a balance of 0.00005388 BTC.  The lowest fee it will allow is 0.00005 BTC.  So I am in the same situation.

Am I right to guess that the balance I am trying to send is too small for the blockchain, and I need to add more BTC to my wallet to make the 0.000005 fee worthwhile?

The smallest you can send is 1 satoshi which is 0.00000001BTC but it would be considered a dust and nodes would not relay it. The lowest output you can have in a transaction is 2730satoshis before the transaction is considered as a dust. You should add more BTC but not with lots of transactions. The more inputs you have, the higher your fee would be. If you don't want your transaction to get stuck, you can also use dynamic fee.