Confirmation Time..?

[20kevin20]

Hello!

Okay so I had to do a few transactions from my Blockchain wallet to some other wallets, and I have a question: as soon as I send an amount of money, it requires me to send a fee of 0.008BTC. Is this even normal? My highest fee I had to send because of the fear of never getting it confirmed was 0.001 about one month ago. I had to send over 10 transactions of the same amount, which means 0.01BTC lost already in fees. I don't think it's fair, and I'd like to know..... Would a transaction with 10k satoshis ever get confirmed? I'd go for it but I'm too scared.

Thank you, everyone!

[1713525490]

1713525490

[mindrust]

Miners are getting greedy. I don't have any experience on blockchain wallet but does it let you change the fee amount or it is the only option? If that fee is forced to you then it is time for you to change your online wallet. I heard xapo pays the transaction fees. Can fix your problem.

[Velkro]

Okay so I had to do a few transactions from my Blockchain wallet to some other wallets, and I have a question: as soon as I send an amount of money, it requires me to send a fee of 0.008BTC. Is this even normal? My highest fee I had to send because of the fear of never getting it confirmed was 0.001 about one month ago.

Thats so high fees u got here. Your wallet thats suggesting such high fees is very bad, u loosing money coz of it.
U don't need to use such high fees, go ahead and try 5 to 10 times less and it will still get confirmed fast .

[calkob]

Hello!

Okay so I had to do a few transactions from my Blockchain wallet to some other wallets, and I have a question: as soon as I send an amount of money, it requires me to send a fee of 0.008BTC. Is this even normal? My highest fee I had to send because of the fear of never getting it confirmed was 0.001 about one month ago. I had to send over 10 transactions of the same amount, which means 0.01BTC lost already in fees. I don't think it's fair, and I'd like to know..... Would a transaction with 10k satoshis ever get confirmed? I'd go for it but I'm too scared.

Thank you, everyone!

That is very high in my opinion, but i think you can set a custom fee even in blockchain.info wallet you might need to look it out....

[Senor.Bla]

Hello!

Okay so I had to do a few transactions from my Blockchain wallet to some other wallets, and I have a question: as soon as I send an amount of money, it requires me to send a fee of 0.008BTC. Is this even normal? My highest fee I had to send because of the fear of never getting it confirmed was 0.001 about one month ago. I had to send over 10 transactions of the same amount, which means 0.01BTC lost already in fees. I don't think it's fair, and I'd like to know..... Would a transaction with 10k satoshis ever get confirmed? I'd go for it but I'm too scared.

Thank you, everyone!

that is like $5. are you sure it is not 0.0008 BTC? would be still high, but more plausible. we had earlier another thread asking about a high fees and long confirmation time. some more details about the transaction would be helpful. 

[LoyceV]

it requires me to send a fee of 0.008BTC. Is this even normal?

Whether or not it's normal depends entirely on the transaction size. How many bytes are you talking about?
If you have a lot of inputs (or outputs), fees get high. I wouldn't expect this from blockchain.info for a normal transaction under 1 kB.

[Jhanzo]

You can't really know if it's fair or not without seeing the size of the transaction in bytes.  You can't use 10K satoshi as fee for 15KB transaction and expect it to be confirmed fast.
Too bad blockchain.info doesn't let us see how many inputs we'll be using so finding out the size of a transaction would be pretty hard without actually sending it or calculating manually.  Soo... trust your instinct?

Edit:
Tried creating a transaction (I didn't send it) with 1 input and 1 output using blockchain.info and got recommended 0.0001243 as fee.  That transaction shouldn't be more than 300byte in size and yours is around 70 times that.  Either blockchain.info glitched on you or you have some really huge tx.

[veleten]

you may want to read more about tx fees
for example,here:
http://www.coindesk.com/new-service-finds-optimum-bitcoin-transaction-fee/
or here:
http://bitzuma.com/posts/making-sense-of-bitcoin-transaction-fees/
average confirmation times depend on blockchain backlogs too,once there 10.000 delayed transactions in que,you would want to increase your fee to get confirmed faster:
https://blockchain.info/charts/median-confirmation-time

[Yakamoto]

Hello!

Okay so I had to do a few transactions from my Blockchain wallet to some other wallets, and I have a question: as soon as I send an amount of money, it requires me to send a fee of 0.008BTC. Is this even normal? My highest fee I had to send because of the fear of never getting it confirmed was 0.001 about one month ago. I had to send over 10 transactions of the same amount, which means 0.01BTC lost already in fees. I don't think it's fair, and I'd like to know..... Would a transaction with 10k satoshis ever get confirmed? I'd go for it but I'm too scared.

Thank you, everyone!

You can knock the fees that you're paying down a considerable amount, I don't know why you're paying 0.001 BTC per transaction. I pay at least two decimals lower in fees for my transactions, and that's if it is a big and urgent payment, or a transaction I just want to go through quickly. A transaction with 10k satoshis should be confirmed relatively quickly, however I'd just check your wallet settings and see what it has for a default payment option. I spend maybe $0.20 per transaction, and that was for a $80 transfer.

[Wind_FURY]

Hello!

Okay so I had to do a few transactions from my Blockchain wallet to some other wallets, and I have a question: as soon as I send an amount of money, it requires me to send a fee of 0.008BTC. Is this even normal? My highest fee I had to send because of the fear of never getting it confirmed was 0.001 about one month ago. I had to send over 10 transactions of the same amount, which means 0.01BTC lost already in fees. I don't think it's fair, and I'd like to know..... Would a transaction with 10k satoshis ever get confirmed? I'd go for it but I'm too scared.

Thank you, everyone!

That transaction fee is too high. I have never been asked such high fees in blockchain.info. Are you sure it is .008 and not .0008? Because the highest fee I had with them is around .0002 or a little bit higher but not over .0003. Today I sent a small transaction to a friend's wallet and blockchain.info asked for a .0001243 transaction fee. So everything is fine in my experience.

How large were your transactions? Also does it really matter much for the miners on how large your transactions are?

[bitkilo]

The transaction fee all depends on the size of the transaction your are sending, bigger the size bigger the fee.
You should be able to send most "normal" size transactions with about a 0.0002 fee.

[jossiel]

I can't believe that you have been deducted or charge with that big amount of fee for your the confirmation of transactions.

Even I, when I am having transactions with blockchain upon sending bitcoin payments the highest miners fee would 0.00001-0.0001 bitcoins.

Have you reported that already to the provider you are using?

[lottery248]

the reason of longer confirmation is explicitly because the queue and the limited transaction per block. miners mainly take the higher fee transactions as the priority, you need to wait for that, luckily the bitcoin core would be around 2017 to double the block size.

[DafLoketPreneurNesiaNipu]

standard confirmation with standard fee send
this 20 - 60 minute to confrimation trasaction

[hakanbalta577]

0.001 btc fee is high for me as well,if i am sending big amount of bitcoins like atleast if i am sending 0.1 btc then its pretty fine but when i am sending small amounts like 0.02 or 0.01,then paying 0.001btc fee is really not understandable and a loss for you.So i rather send with only 0.0002btc fee and would like to wait more rather than wasting my bitcoins.

[Kakmakr]

The fees you are sending is absurd, who recommended those fees? That is about the same fees as you would get with MoneyGram or Western Union. ^wow^ You should have a look at this https://bitcoinfees.21.co/#delay Hope you found this useful. ^smile^

[Lauda]

Miners are getting greedy.

This has nothing to do with the miners, ergo they are not getting greedy. Please don't post misleading information.

Hello!
Okay so I had to do a few transactions from my Blockchain wallet to some other wallets, and I have a question: as soon as I send an amount of money, it requires me to send a fee of 0.008BTC. Is this even normal?

1) Stop using such a stupid wallet.
2) The fee is dependant on the wallet + the transaction size.
3) The fee should be displayed in satoshis/byte for accurate representation (which lets us determine whether it was too high or not.
4) Look at 1.

[passwordnow]

0.01BTC lost already in fees.

Woah?! Really already made 0.01 lost just for fees? I think that is unfair are sure that you are able connect to the blockhain network? Because as far as I know the highest amount of miners fee would not even reach 0.001 because the fees are depending on the how big is the size of your transaction. Maybe your wallet provider is charging you that not the miners.

[Wind_FURY]

3) The fee should be displayed in satoshis/byte for accurate representation (which lets us determine whether it was too high or not.

So what would the average fee be in satoshis per byte? I believe all of the wallets whether it is offline or a webwallet would let the user choose how much you want to pay in transaction fees. So it would be unfair to even suggest for the OP to stop using blockchain.info. I know they have had their problems in the past but to be fair they also have been offering a decent and convenient service for small transactions.

[Lauda]

So what would the average fee be in satoshis per byte?

The fastest and cheapest transaction fee is currently 60 satoshis/byte, shown in green at the top.

Data queried at time of writing this post.

I believe all of the wallets whether it is offline or a webwallet would let the user choose how much you want to pay in transaction fees.

This is not the case.

So it would be unfair to even suggest for the OP to stop using blockchain.info.

No, it is not unfair. Any experienced Bitcoin user will tell you to stay away from online wallets.