Recurring sending

[Toresh]

Hi,
Is there a way to automatically send a fixed amount to an address at a certain interval? e.g. I send 0.001 BTC to address 12345 everyday at 8:00am?
I am using Coinbase for this but they are no longer paying the mining fee and I can't choose it. I don't need a fast confirmation, so I would select the minimum.

Thanks,

[alani123]

I don't think that there's any service able to do this and also pay for mining fees on top. You could set up a wallet locally and have it programmed to send BTC to an address that converts funds to FIAT as they arrive as a service (using a service like for example Uphold or Mistertango). But mining fees are on you one way or the other.

[mocacinno]

I don't think that there's any service able to do this and also pay for mining fees on top. You could set up a wallet locally and have it programmed to send BTC to an address that converts funds to FIAT as they arrive as a service (using a service like for example Uphold or Mistertango). But mining fees are on you one way or the other.

I think this is the correct answer...
Technically, i would solve it by running bitcoind, then create a cronjob:
1 8 * * * bitcoin-cli sendtoaddress "1Myaddressdmfkljsmdfkjsd" 0.001

I would create a bitcoin.conf file in ~/.bitcoin and add following lines:

Code:

rpcuser=delme
rpcpassword=pickyourownpassword
txconfirmtarget=144

Transaction fees are a given, the only way around them is by using a service that pays the fee in your place (like coinbase used to do), but by adding txconfirmtarget to your bitcoin.conf, you basically tell your wallet: i'm willing to way 144 blocks for a 95% chance of getting a confirmation.
You can change the number of blocks, but remember: most nodes drop unconfirmed transactions from their mempool after 3 days, plus your wallet has no way to look in the future. If the mempool size explodes and a fee bidding war starts, setting to big of a number might result in all your transactions getting dropped from the node's mempool after a couple of days.

Do note it might be a good idear to lock your wallet, in this case you have to run a second script to unlock it before issuing a "sendtoaddress"...

[Toresh]

Thanks. I think I will use the bitcoin-cli method.

I don't mind paying the transaction fee, it's just that it's too high on Coinbase so I would use the minimum
e.g. I send USD 5.00 from my BTC wallet (converted to BTC by Coinbase), I would pay about USD 0.74 as fee and I would like to reduce it to the minimum, not 0.

[alani123]

Thanks. I think I will use the bitcoin-cli method.

I don't mind paying the transaction fee, it's just that it's too high on Coinbase so I would use the minimum
e.g. I send USD 5.00 from my BTC wallet (converted to BTC by Coinbase), I would pay about USD 0.74 as fee and I would like to reduce it to the minimum, not 0.

Oh, I thought you were also looking to sell by sending. If you just want to have recurring BTC transactions the bitcoin-cli could be used to send to any of your bitcoin addresses, not necessarily to an address of the services I mentione above.