Fee's with Bitcoind..

[DesignDerby.co.uk]

I am trying to send automated payments from my linux server and I am having a problem with the fee amount in the bitcoin.conf, I was under the impression it would automatically take the fees required for optimal sending time but it doesnt.

I sent this payment;

Code:

https://blockchain.info/tx/e44feaeb8614e9be711bd08d16c13d9f23415148d5479f855f194c2a2e17bebc

This morning quite early and its still unconfirmed, I believe its because of the fee amount I 'opted' for..

Code:

listen=1
server=1
daemon=1
txindex=1
rpcuser=username*
rpcpassword=password*
rpcport=8332
rpcallowip=127.0.0.1
paytxfee=0.00001
mintxfee=0.00001
limitfreerelay=15
minrelaytxfee=0.00001
blockmaxsize=750000
blockminsize=0
blockprioritysize=50000

I understand fees are different based on the size of the transaction, so I need some help as to what to set fees at.. I will be sending a range of payments, some at say $30, some at $0.50.

Thanks for the help in advance, if you need any more information please let me know.

[DesignDerby.co.uk]

Nevermind, I have changed it to;

Code:

listen=1
server=1
daemon=1
txindex=1
rpcuser=username*
rpcpassword=password*
rpcport=8332
rpcallowip=127.0.0.1
paytxfee=0.0001

Seems to be working fine now.

[unholycactus]

Nevermind, I have changed it to;

Code:

listen=1
server=1
daemon=1
txindex=1
rpcuser=username*
rpcpassword=password*
rpcport=8332
rpcallowip=127.0.0.1
paytxfee=0.0001

Seems to be working fine now.

Meaning you have a flat 0.0001BTC fee for any transaction you'll be doing?
You might run into some trouble doing this.

[siameze]

Nevermind, I have changed it to;

Code:

listen=1
server=1
daemon=1
txindex=1
rpcuser=username*
rpcpassword=password*
rpcport=8332
rpcallowip=127.0.0.1
paytxfee=0.0001

Seems to be working fine now.

Meaning you have a flat 0.0001BTC fee for any transaction you'll be doing?
You might run into some trouble doing this.

I'll agree, depending on whether or not you are just making dust transactions. I have seen this on reddit so many times where people complain about tx not going through when they didn't bother to include a high enough fee or any at all.


EDIT: you may save yourself a few satoshi by sending all your payments in one batch and paying a single tx fee. Something to consider.

[DesignDerby.co.uk]

The maximum amount being sent ever in these transactions will be 0.1, I presumed the amount above is perfectly reasonable for that amount? Is there anyway I can set the bitcoin daemon to send fees automatically based on the size?

[siameze]

The maximum amount being sent ever in these transactions will be 0.1, I presumed the amount above is perfectly reasonable for that amount? Is there anyway I can set the bitcoin daemon to send fees automatically based on the size?

Not possible, at least with core: https://bitcointalk.org/index.php?topic=644189.0

Learn more about how fees are calculated here. http://bitcoin.stackexchange.com/questions/1195/how-to-calculate-transaction-size-before-sending

The maths behind it are quite simple really once you get the hang of it.

[DesignDerby.co.uk]

The maximum amount being sent ever in these transactions will be 0.1, I presumed the amount above is perfectly reasonable for that amount? Is there anyway I can set the bitcoin daemon to send fees automatically based on the size?

Not possible, at least with core: https://bitcointalk.org/index.php?topic=644189.0

Learn more about how fees are calculated here. http://bitcoin.stackexchange.com/questions/1195/how-to-calculate-transaction-size-before-sending

The maths behind it are quite simple really once you get the hang of it.

Thanks very much for that post, helped a lot. I think I have it covered for now.