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Author Topic: .14 BTC transaction fee?  (Read 930 times)
Third Way
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February 04, 2013, 07:16:28 PM
 #1

Uh, hey,


I need some tech help, my HDD is about to fail on me because it's been making these screechy noises from time to time( my laptop is from 2007)

I fear I may lose everything in the HDD and the laptop itself so I tried moving my BTC to MtGox until I can download the blockchain on another pc or whatever I can find, byt what is stoping me from doing so is a .14 BTC transaction fee, on a 7 BTC transaction.


Is this ammount of a fee normal for this ammount?

The transaction fee I have on my Bitcoin program is 0.01

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Akka
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February 04, 2013, 07:21:31 PM
 #2

You probably have a lot of unspend outputs.

To put it simple the transaction fee, adds up with each transaction you want to include.

Read in the wiki for more.

You don't have to send all your coins to save them. Just make a backup of you wallet.dat.

Located in Windows: Your files--> AppData --> Roaming --> Bitcoin.

You can even upload it to the Blockchain wallet and have all your coins there: https://blockchain.info/de/wallet/import-wallet

All previous versions of currency will no longer be supported as of this update
Blazr
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February 04, 2013, 07:25:41 PM
 #3

You've probably got a whole bunch of really small inputs (from things like SatoshiDice & those free BTC sites).

Are you using Bitcoin-QT? IIRC there is a patch you can apply that will let you choose the transaction fee, it means it'll take longer for the transaction to confirm though.

DannyHamilton
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February 04, 2013, 07:27:40 PM
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. . . what is stoping me from doing so is a .14 BTC transaction fee, on a 7 BTC transaction . . .
There several ways you can get into this situation, but the most common is by playing a lot of SatoshiDice.  SatoshiDice pays out losing bets with 0.00000001 BTC.  You get a few hundred of these 0.00000001 BTC amounts in your wallet, and suddenly it takes over 10 kilobytes to create a transaction that uses them all.  Most bitcoin clients make you pay a fee per kilobyte if your transaction is more than 10 kilobytes.  So if you have enough of these extremely small transactions that you've received to require a 14 kilobyte transaction to send them all, 14 x 0.01 = .14 BTC fee.

Stephen Gornick
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February 04, 2013, 07:41:09 PM
 #5

Is this ammount of a fee normal for this ammount?
l
The trx fee computation considers the age of the coins (if you recently received them, like in the past day) and the size of the transaction ( where many small inputs are worth less to spend than the amount of fees they require when trying to spend.)

One approach might be to send just a lower amount and let the rest "age" for a day or so if that is the cause it will diminish on its own.  The other approach us to import keys to a client that allows yoy to send trxs without paying any fee.  Blockchain.info/wallet being one of those.

Regardless, make sure you back up your wallet.dat.  

Third Way
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February 04, 2013, 08:08:44 PM
 #6

Yes sadly I am still on this laptop trying to recover as much infor as I can, because I want to support the network Ill pay the .14 btc fee

Thank you .

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farlack
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February 05, 2013, 12:47:52 AM
 #7

Just print a paper wallet and upload it on blockchain.info its free.

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