How to reduce LTC transaction fees from p2pool mining?

[erk]

Does anyone know how to reduce LTC transaction fees from p2pool mining? To transfer 1LTC a dialog box pops up asking for a 0.6LTC transfer fee.

[GForce]

This would be great to know, to transfer 3LTC it costs me 1.6LTC, which makes no sense...

[erk]

This would be great to know, to transfer 3LTC it costs me 1.6LTC, which makes no sense...

I did read that the age of the LTC reduces the fees, but I don't know if they meant age in terms of days sitting in your wallet,  or age in terms of number of confirmations.

[GForce]

Apparently a new version of LTC is coming out with lowered fee's.

[Kamerdracy]

Apparently a new version of LTC is coming out with lowered fee's.

Is this happening soon?
I tried to send 9 LTC to my friend and transaction fee was 6 LTC. Insane isn't it?

Is there any way I can consolidate my LTC from the address that my p2pool is using to deposit micro deposits, into another wallet address with no transactions fees. It is ridicilous that I have to pay 66% fee on my transactions.

Or is there a way to run my run_p2pool.exe so it doesn't give me multiple micro deposits but just one larger in amount.

[eddyfitz]

That's why I mine on "no login needed" pools. p2pool have such ability as well

[Kamerdracy]

That's why I mine on "no login needed" pools. p2pool have such ability as well

What do you mean by that?

[eddyfitz]

That's why I mine on "no login needed" pools. p2pool have such ability as well

What do you mean by that?

Maybe I misunderstood the question, but I'm not getting any additional fees on receiving coins from mining into my wallet.

[Kamerdracy]

That's why I mine on "no login needed" pools. p2pool have such ability as well

What do you mean by that?

Maybe I misunderstood the question, but I'm not getting any additional fees on receiving coins from mining into my wallet.

I believe you misunderstood question.
I'm running p2pool myself that is connected to my wallet and I do have few old computers that are doing mining on that p2pool. Now, in my wallet I have zillion transactions all like 0.02 - 0.04 LTC
And I'm running it for a few days now and collected just above 10 LTC so far. When I wanted to transfer 9 LTC to my friend I got prompted that I don't have enough LTC after 6 LTC transaction fee is applied...

Do you have explanation why is that
Thanks

[eddyfitz]

Ah, when you have "zillion" of bits from various blocks - fee is applied on each KB of transaction. When you collect alot of different bits from various blocks - transaction become quite heavy in kilobytes. That's the case, I guess. Double-check that you do not have anything set in "optional transaction fee for faster processing" under "main" tab in options of your litecoin-qt.

[Kamerdracy]

Ah, when you have "zillion" of bits from various blocks - fee is applied on each KB of transaction. When you collect alot of different bits from various blocks - transaction become quite heavy in kilobytes. That's the case, I guess. Double-check that you do not have anything set in "optional transaction fee for faster processing" under "main" tab in options of your litecoin-qt.

Thanks, that explains it. So there is no way I can send those coins to some other address without being slammed by fee?

[eddyfitz]

Only option is to try to wait some time NOT receiving new transactions. But I suggest you to google more about "fees on large transactions" issue to be 100% confident.