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Author Topic: what's the best practice for transaction fee setting?  (Read 1115 times)
newguy05
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June 10, 2011, 12:15:10 AM
 #1

I am just curious if most of you set transaction fee? and if so what's the amount. The bitcoin client says it recommends 0.01.  I dont mind paying some for transaction fees to support the network but just want to get a feel what is the accepted norm in the community. thanks

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June 10, 2011, 12:19:07 AM
 #2

The next release will recommend 0.0005

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
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June 14, 2011, 04:30:21 PM
 #3

0.0005 is great. The 0.01 fee was too much for frequent transactions.

btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
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June 14, 2011, 04:35:10 PM
 #4

Though I often wonder, but never dared to try, 0.00 fee. Does it work?

btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
TheAlchemist
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June 14, 2011, 04:43:35 PM
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Though I often wonder, but never dared to try, 0.00 fee. Does it work?

I just transferred two bitcoins to http://www.tradehill.com with no fee...
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June 14, 2011, 05:07:24 PM
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Though I often wonder, but never dared to try, 0.00 fee. Does it work?

I just transferred two bitcoins to http://www.tradehill.com with no fee...

how long did it take? One guy said it took over 10 hours for his 0 fee transaction to appear in mtgox

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July 01, 2011, 01:30:07 PM
 #7

how long did it take? One guy said it took over 10 hours for his 0 fee transaction to appear in mtgox

Yeah, it took about an hour or two, IIRC, but I wasn't monitoring it continuously because, well, it was only a few BTC.
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