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Author Topic: Miner Fee question.  (Read 198 times)
cgatx (OP)
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December 09, 2017, 07:25:08 PM
 #1

So I have a pending transaction that is still receiving and yet to confirm.  A few questions..

When I'm looking at my transaction details it says- Miner Fee- 0.000202.  Since I'm the one receiving, is that my receiving fee? 

also

If that is the receiving fee, then is the sending fee totally separate?
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December 09, 2017, 07:33:47 PM
 #2

No, this fee is not for you. Its like the name says a miner fee. The miner, including your transaction into his block, will get this fee.
I can recommend this link: https://en.bitcoin.it/wiki/Help:Introduction
Since there are way more transaction waiting to get confirmed than usually, a fee of 0,000202 seems pretty low to me.
For a medium TX about 0.0008 were necessary to get a tx through fast, even higher if this TX consists of much inputs.
For future transactions you can lookup the current fee status here: https://bitcoinfees.earn.com/

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December 09, 2017, 07:45:58 PM
 #3

When I'm looking at my transaction details it says- Miner Fee- 0.000202.  Since I'm the one receiving, is that my receiving fee? 

There are a few wallets that are charging incoming transactions fee's.

Like localbitcoins, everytime that you get a payment in there, you must pay 0.0006 btc in there (aprox $7 atm)
They are real thiefs, i dont know why they are able to charge that money because it is insane.

Just think aboute this, if you are receiving your payments in btc, and you get five a day.. you must pay more than $45 a day worth of fees  for them.

But if you use a normal wallet, you do not have to pay anything.

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cgatx (OP)
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December 09, 2017, 07:52:02 PM
 #4

When I'm looking at my transaction details it says- Miner Fee- 0.000202.  Since I'm the one receiving, is that my receiving fee? 

There are a few wallets that are charging incoming transactions fee's.

Like localbitcoins, everytime that you get a payment in there, you must pay 0.0006 btc in there (aprox $7 atm)
They are real thiefs, i dont know why they are able to charge that money because it is insane.

Just think aboute this, if you are receiving your payments in btc, and you get five a day.. you must pay more than $45 a day worth of fees  for them.

But if you use a normal wallet, you do not have to pay anything.


So that 0.000202 btc fee is what I pay to the Miner for receiving it.. correct?  It's a Mycellium wallet.
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December 09, 2017, 07:55:29 PM
 #5

When I'm looking at my transaction details it says- Miner Fee- 0.000202.  Since I'm the one receiving, is that my receiving fee?  

There's no such thing as a receiving fee. That's the fee the person sending the transaction to you offered for the miners. If it's low, it's going to take a longer time for that transaction to be picked up to be confirmed. There's so much transaction activity now because of the growth in Bitcoin price and the upcoming CME and CBOE futures introduction that fees have gone up temporarily.

btc fee is what I pay to the Miner for receiving it.. correct?  It's a Mycellium wallet.

No, you don't pay a fee to the miner at all unless you're the sender.

Transaction fees for a wallet are completely different, and they go to pay the Exchange that you have your wallet with to pay for their service.
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December 09, 2017, 07:57:54 PM
 #6

So I have a pending transaction that is still receiving and yet to confirm.  A few questions..

When I'm looking at my transaction details it says- Miner Fee- 0.000202.  Since I'm the one receiving, is that my receiving fee? 

also

If that is the receiving fee, then is the sending fee totally separate?
There's no such as receiving fee, all the transaction fees are called miners fee or whatever you'll call them between those two fees I've said but it's not receiving fee. TX fee is always the burden of the sender so the person who sent you those bits you have the fee was shouldered by him. And if you'll send to someone, you will experience it too as this has been a requirement to make your transaction confirmed.



 

 

 

 

 

 


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stompix
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December 09, 2017, 07:58:09 PM
 #7


There are a few wallets that are charging incoming transactions fee's.

Like localbitcoins, everytime that you get a payment in there, you must pay 0.0006 btc in there (aprox $7 atm)
They are real thiefs, i dont know why they are able to charge that money because it is insane.

They are able to charge you whatever they want.
Nobody is forcing you to use their service, simple as that.

I don't see when anybody should use an web wallet which is charging fees for receiving money.
Forget about the being your own bank and safety, but that is worse than banks. I pay 0 to deposit euros in my account.

But if you use a normal wallet, you do not have to pay anything.
Not "normal" , just stop using a wallet which you don't control 100%.
Armory/Trezor/ Mycelium are not entirely "normal" but they are still better than anything online.

So that 0.000202 btc fee is what I pay to the Miner for receiving it.. correct?  It's a Mycellium wallet.

The fee was already paid by the one that sent you the funds.

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cgatx (OP)
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December 09, 2017, 08:06:39 PM
 #8

Thanks for answering my question guys. 

I paid this dude $20 usd for a $13.75 usd mining fee.  He said it would take 2 hours.  It has been 24 hours.  I look in the transaction details and discover he only paid just over $3 usd.
HabBear
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December 09, 2017, 08:26:11 PM
 #9

TX fee is always the burden of the sender so the person who sent you those bits you have the fee was shouldered by him. And if you'll send to someone, you will experience it too as this has been a requirement to make your transaction confirmed.

"TX fee is always the burden of the sender". <<< NOT TRUE.

Again, you're confusing the miner's fee and a transaction fee. The miner's fee (as named) is charged by the miner for confirming the transaction on the blockchain. A transaction fee could be charged by the exchange the two parties are using to facilitate the transaction. It's likely to be two different exchanges for one transaction (one for the sender, and a different one for the receiver). And both exchanges are likely to charge a fee to pay for the service they're providing to either party.

Some exchanges will combine the miner's fee and the transaction fee so the sender or receiver just sees one line item labeled "transaction fee".
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December 09, 2017, 08:37:08 PM
Last edit: December 09, 2017, 09:37:36 PM by stompix
 #10

Thanks for answering my question guys.  
I paid this dude $20 usd for a $13.75 usd mining fee.  He said it would take 2 hours.  It has been 24 hours.  I look in the transaction details and discover he only paid just over $3 usd.

I really wonder why and who this guy is that you paid
Checking your other thread
https://bitcointalk.org/index.php?topic=2550743.msg26004670#msg26004670

I actually paid the guy $20 usd for $13.75 usd in miners fee.   He showed the $13.75 entered on his phone.   He said 2 hours because they are running behind because of increased buying.   4 hours later I go into my transaction details and it says the miner fee is 0.000202 BTC which is $3.22 usd.

Somebody tricked you and lied to you.
It would be better that you publish their name/account/website/localbitcoin account or whatever they are so other don't get tricked.



"TX fee is always the burden of the sender". <<< NOT TRUE.

Again, you're confusing the miner's fee and a transaction fee. The miner's fee (as named) is charged by the miner for confirming the transaction on the blockchain. A transaction fee could be charged by the exchange the two parties are using to facilitate the transaction. It's likely to be two different exchanges for one transaction (one for the sender, and a different one for the receiver). And both exchanges are likely to charge a fee to pay for the service they're providing to either party.

Some exchanges will combine the miner's fee and the transaction fee so the sender or receiver just sees one line item labeled "transaction fee".

Actually he is right.

Quote
The transaction fee is received by the bitcoin miner
https://en.bitcoin.it/wiki/Transaction_fees

A tx fee is always payed to the miner. It is not charged ( as there is no price label on it) it is offered by the sender and (maybe) accepted, it is not set in stone and not enforced by one of the two.

The other fees are not related to the tx.
Those are service fees for withdraw or deposits and are set by the service provider and agreed in the ToS.

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