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Author Topic: How to calculate the fees in electrum?  (Read 1235 times)
electrun2
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December 15, 2016, 06:50:32 PM
 #1

I sent $40 to some address and it's been 8+ hours and still no confirmation, so I don't know what to do. When I was about to send the payment, electrum's slider was on far left, meaning the smallest fees and "within 25 blocks", but seems like it takes forever instead. I saw https://bitcoinfees.21.co/, but there isn't BTC/kB which is present in Electrum client, so I don't know how to calculate the optimal fee in order not to get stuck like now. From what I've seen on website, there is BTC per byte.
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steven0021
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December 15, 2016, 10:09:13 PM
 #2

I sent $40 to some address and it's been 8+ hours and still no confirmation, so I don't know what to do. When I was about to send the payment, electrum's slider was on far left, meaning the smallest fees and "within 25 blocks", but seems like it takes forever instead. I saw https://bitcoinfees.21.co/, but there isn't BTC/kB which is present in Electrum client, so I don't know how to calculate the optimal fee in order not to get stuck like now. From what I've seen on website, there is BTC per byte.

https://bitcointalk.org/index.php?topic=1712036.msg17165327#msg17165327

10 satoshi is 0.00000010 and 1 KB is roughly 1000 bytes. Just multiply the recommended amount you get from https://bitcoinfees.21.co/ by 1000. So if it's 50 satoshi per byte it's 0.0005/KB, 90 satoshi per byte is 0.0009/kb, and so on.

                                                                       
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December 21, 2016, 01:19:06 PM
 #3

I sent $40 to some address and it's been 8+ hours and still no confirmation, so I don't know what to do. When I was about to send the payment, electrum's slider was on far left, meaning the smallest fees and "within 25 blocks", but seems like it takes forever instead. I saw https://bitcoinfees.21.co/, but there isn't BTC/kB which is present in Electrum client, so I don't know how to calculate the optimal fee in order not to get stuck like now. From what I've seen on website, there is BTC per byte.

I don't recommend using the slider all the way to the left. That is a low fee and it could take 25+ or more blocks to confirm which could be a very long time. Electrum seems to do a pretty good job when leaving the slider in the middle and if you need a very quick confirm, slide it to the right. If you want more control, you can specify a manual per KB fee in the preferences but I've found that the dynamic fees work pretty well most of the time. Just don't slide it to the left unless you are prepared to wait a long time.
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December 25, 2016, 04:17:40 PM
 #4

I sent $40 to some address and it's been 8+ hours and still no confirmation, so I don't know what to do. When I was about to send the payment, electrum's slider was on far left, meaning the smallest fees and "within 25 blocks", but seems like it takes forever instead. I saw https://bitcoinfees.21.co/, but there isn't BTC/kB which is present in Electrum client, so I don't know how to calculate the optimal fee in order not to get stuck like now. From what I've seen on website, there is BTC per byte.

https://bitcointalk.org/index.php?topic=1712036.msg17165327#msg17165327

10 satoshi is 0.00000010 and 1 KB is roughly 1000 bytes. Just multiply the recommended amount you get from https://bitcoinfees.21.co/ by 1000. So if it's 50 satoshi per byte it's 0.0005/KB, 90 satoshi per byte is 0.0009/kb, and so on.

I have a question, does this Fee/KB use 1000 bytes as a kilobyte or 1024 bytes.

I get confused always because the SI unit for a KB is 1000 byte but in computer language it's 1024.

So which one is it? It's confusing.

ranochigo
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December 25, 2016, 04:37:59 PM
 #5

I sent $40 to some address and it's been 8+ hours and still no confirmation, so I don't know what to do. When I was about to send the payment, electrum's slider was on far left, meaning the smallest fees and "within 25 blocks", but seems like it takes forever instead. I saw https://bitcoinfees.21.co/, but there isn't BTC/kB which is present in Electrum client, so I don't know how to calculate the optimal fee in order not to get stuck like now. From what I've seen on website, there is BTC per byte.

https://bitcointalk.org/index.php?topic=1712036.msg17165327#msg17165327

10 satoshi is 0.00000010 and 1 KB is roughly 1000 bytes. Just multiply the recommended amount you get from https://bitcoinfees.21.co/ by 1000. So if it's 50 satoshi per byte it's 0.0005/KB, 90 satoshi per byte is 0.0009/kb, and so on.

I have a question, does this Fee/KB use 1000 bytes as a kilobyte or 1024 bytes.

I get confused always because the SI unit for a KB is 1000 byte but in computer language it's 1024.

So which one is it? It's confusing.
1000 bytes, it doesn't really matter right? Cheesy















 

 

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