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Author Topic: How to send BitCoins with LOW TX FEE (Not No TX Fee)  (Read 8225 times)
nonnakip
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March 31, 2013, 11:18:53 PM
 #41


This is blockchain spam. You are sending thousands of 0.000002-0.000006 BTC payments that can hardly be spent (the recipient has to pay minimum fees to spend them too). If Bitcoins were $1000 each these are still fractions of a USD penny. I would be pissed if you sent this crap to my wallet. Only the naive would sign up or expend any effort to receive such payments.

One transaction - 1/10th of a megabyte that has to be stored by every node on the network forever and transmitted to every new user before they can use Bitcoin, you really think that 0.049 BTC is too expensive to do that?

What you call "blockchain spam" is critical for longterm success of Bitcoin. Without miners there is no Bitcoin. And miners rely evermore on tx fees. Bitcoin currently has 8 decimal places. If I want to send a transaction with 1000 payments of 0.00000001 BTC then that must be allowed. And miners will be very happy to process such transactions. Whether or not it is profitable for me to create such transactions is my business.

"dust" should be welcomed and celebrated. It keeps Bitcoin alive. If Bitcoin software has a problem with "dust" then it has a problem with the future.
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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BitHits (OP)
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April 02, 2013, 06:50:08 AM
 #42

I'm mostly aiming for a tx size of just under 10k and a total input of 0.01 or more, so far i havent quite hit the mark but I've been getting close.

http://blockchain.info/tx/bcd40b654fd84b69cb7ecf3538ea7acec2c9a4fccb25faa2e90f82a6ae51777c

Size 7816 (bytes)
BTC Sent 0.00709 BTC
Fees 0.004 BTC

http://blockchain.info/tx/aaaad80916549752ab7a4f66f8d760180b8e188e5d84e932db19b25393573738

Size 5680 (bytes)
BTC Sent 0.007098 BTC
Fees 0.003 BTC

At least my tx fee vs total input is not retardedly disproportionate

Free BTC http://beta.BitHits.info BTC 1DNNERMT5MMusfYnCBfcKCBjBKZWBC5Lg2 DGC DH2Pm4VXxsTeqUYZkEySU1c8p5TLvuLe8u LTC LP2QiL1pnsaKVX5Qa811pFJuFL8FxkxWRz
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April 02, 2013, 07:41:10 AM
 #43

@BitHits

You can use either raw transactions or my fork to send transactions with lower fees than normal.

However beware, if you miscalculate and send a transaction without fee that should be sent with fee, it may never confirm.
This usually applies to dust or very fresh coins (recently received).

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