blockchian problem.. Can not send high amounts

[asifshabir]

I keep getting this message when i try to send any amount.
This wallet contains a very large number of unspent outputs. Please consolidate some outputs


Also .

I am not able to send any payment higher then 3$ ..
Its also charging me very high fee when i try to send


kindly support on the case

[onnz423]

Have u tried to contact blockchain's support?
As far as i know you should be able to export private keys from blockchain.
Using online wallets is generally a bad idea because you do not hold and of the private keys personally, which means you do not own the bitcoins.
Try ecporting the private keys which you have bitcokns on to external wallet and send the bitcoins forward to external wallet too. I recommend electrum. If you have spare bucks you should invest on ledger wallet nano.
Let me know if you have any questions

[NeuroticFish]

I have a feeling that your money is made of a lot of small inputs.
If your money comes from a lot of small amounts, this is a normal behavior.

However, I also advise a local wallet.
It should ensure you better security and better control, even having the choice to try a much smaller fee / kb (although you should do that when the mempool will not be this full)

[LoyceV]

I am not able to send any payment higher then 3$ ..
Its also charging me very high fee when i try to send

Can you post some of the addresses you've used?

My guess would be you've been collecting very small amounts from faucets, which is worth less than the fee required to send them again. In other words: it's about worthless now. In the past you could have used it, and maybe you can use it again in the future.
Or, depending on how big your inputs are, you can try consolidating them when the recommended fee is low. Last Sunday 10 sat/byte would have been enough, and even less than that would have worked. This takes patience to do though.

[DannyHamilton]

Each payment you received in the past will require at least 148 bytes to spend in a transaction.

So, for example, if you received 1000 payments of 0.0001 BTC, then you would have a total of 0.1 BTC.

However, if you then want to spend 0.05 BTC, you will need to spend at least 500 of those payments that you received:
500 X 0.0001 BTC = 0.05 BTC.

Since each of them require at least 148 bytes, that means your transaction will be at least:
500 X 148 bytes = 74000 bytes.

The current recommended fee for fast confirmation is 0.00000180 BTC per byte.

Therefore a 74000 byte transaction would require at least:
74000 bytes X 0.00000180 BTC per byte = 0.1332 BTC

That's 0.1332 BTC in transaction fees to spend 0.05 BTC.


On the other hand, if you had received that entire 0.05 BTC in a single payment, you could spend it with just 148 bytes.

In that case, your fee to spend 0.05 BTC would only be:
148 bytes X 0.00000180 BTC per byte = 0.0002664 BTC.


When people say that the money you get from faucets is worthless, they mean it literally.

A payment from a faucet of only 0.0003 BTC is actually only worth about 0.0000336 BTC after you subtract out the fees you'll have to pay.

If a faucet pays you less than 0.0002664 BTC in a single payment, then it will cost you more in fees to spend it than it is actually worth.  Meaning, the visit to the faucet actually lost you money.

[asifshabir]

Each payment you received in the past will require at least 148 bytes to spend in a transaction.

So, for example, if you received 1000 payments of 0.0001 BTC, then you would have a total of 0.1 BTC.

However, if you then want to spend 0.05 BTC, you will need to spend at least 500 of those payments that you received:
500 X 0.0001 BTC = 0.05 BTC.

Since each of them require at least 148 bytes, that means your transaction will be at least:
500 X 148 bytes = 74000 bytes.

The current recommended fee for fast confirmation is 0.00000180 BTC per byte.

Therefore a 74000 byte transaction would require at least:
74000 bytes X 0.00000180 BTC per byte = 0.1332 BTC

That's 0.1332 BTC in transaction fees to spend 0.05 BTC.


On the other hand, if you had received that entire 0.05 BTC in a single payment, you could spend it with just 148 bytes.

In that case, your fee to spend 0.05 BTC would only be:
148 bytes X 0.00000180 BTC per byte = 0.0002664 BTC.


When people say that the money you get from faucets is worthless, they mean it literally.

A payment from a faucet of only 0.0003 BTC is actually only worth about 0.0000336 BTC after you subtract out the fees you'll have to pay.

If a faucet pays you less than 0.0002664 BTC in a single payment, then it will cost you more in fees to spend it than it is actually worth.  Meaning, the visit to the faucet actually lost you money.

Very nice explanation.

Most of the bitcoins that i have been receiving i have received from faucets in small amounts. So I guess this could be the reason for this.

I will try to export private keys from the  blockchain and see if it makes any difference.

Thanks All for their reply.

[DannyHamilton]

- snip -
I will try to export private keys from the  blockchain and see if it makes any difference.
- snip -

The only difference exporting your private keys will make is that it might (depending on the wallet that you import the keys into) give you a bit more control over exactly how you structure your transactions and how much of a fee you choose to pay.

Unfortunately, it won't change the fact that every one of those payments you received will require 148 bytes when you want to spend them, and if you choose to pay too low of a fee, your transaction will take a VERY long time to confirm.

There is currently a transaction accelerator at viabtc.com, so with some careful structuring and patience, while viabtc.com continues to offer the service, you might be able to consolidate your bitcoins into fewer future inputs at a cost of only 0.00000010 BTC per byte.

[mrcash02]

To prevent this to happen, receive all your small earnings from faucets in exchange sites, next, when you get a big amount of satoshis, send it to your wallet (Blockchain). Do the same for small tasks you earn few cents/satoshis. Find an exchange with low withdraw fees to maximize your earnings.