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Author Topic: Help figuring out Satoshi in transfer  (Read 361 times)
Xylez
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May 12, 2017, 07:59:08 AM
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Hi,

I am looking to transfer approximately 2.249 bitcoins to another wallet of mine. Figuring out the Satoshi is pretty mind boggling to me as I'm new to this, can someone help me with what would be the recommend amount i should put? If you could put it in BTC amount that would be beneficial as I am using blockchain and doing an advanced send.

Thank you!
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mocacinno
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May 12, 2017, 08:02:19 AM
 #2

Hi,

I am looking to transfer approximately 2.249 bitcoins to another wallet of mine. Figuring out the Satoshi is pretty mind boggling to me as I'm new to this, can someone help me with what would be the recommend amount i should put? If you could put it in BTC amount that would be beneficial as I am using blockchain and doing an advanced send.

Thank you!

Hi,

The size of the fee has nothing to do with the amount of fund you're transferring, and everything to do with the amount of inputs/outputs (the size of the transaction).
Could you post the addresses from your wallet? That way at least we can have a look if you're collecting dust inputs.
It's important to think about the fee before creating a transaction, i've seen loads of people that are getting their transaction stuck when using blockchain.info lately, it appears this online wallet is not that good at estimating an appropriate fee...

If you don't want to post the addresses managed by your wallet, you can also use http://www.mocacinno.com/page/feeestimate

BTW: for such a bit amount of BTC, i'd strongly recommend to stop using an online wallet...

Xylez
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May 12, 2017, 08:12:12 AM
 #3

Hi,

I am looking to transfer approximately 2.249 bitcoins to another wallet of mine. Figuring out the Satoshi is pretty mind boggling to me as I'm new to this, can someone help me with what would be the recommend amount i should put? If you could put it in BTC amount that would be beneficial as I am using blockchain and doing an advanced send.

Thank you!

Hi,

The size of the fee has nothing to do with the amount of fund you're transferring, and everything to do with the amount of inputs/outputs (the size of the transaction).
Could you post the addresses from your wallet? That way at least we can have a look if you're collecting dust inputs.
It's important to think about the fee before creating a transaction, i've seen loads of people that are getting their transaction stuck when using blockchain.info lately, it appears this online wallet is not that good at estimating an appropriate fee...

If you don't want to post the addresses managed by your wallet, you can also use http://www.mocacinno.com/page/feeestimate

BTW: for such a bit amount of BTC, i'd strongly recommend to stop using an online wallet...

Thank you so much for your reply.

I'm a little confused about posting addresses from my wallet, I create a new address for literally every single transaction that I have ever done, i literally have 69 different addresses in my blockchain. Most of which are "archived", lol, call me a noob but I remember reading about creating new addresses for every transaction. What would I need to post in regards to those addresses? xpub key?

Yes, I was caught earlier in the stuck mode for almost 48 hours until I used viabtc accelerator. Do not want this to happen again.

Typically I go straight from blockchain to coinbase within a day, but am now using localbitcoins to sell my coins locally. I don't invest in the market, but I do accept it as a form of payment for services.
mocacinno
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May 12, 2017, 08:17:25 AM
 #4

Hi,

I am looking to transfer approximately 2.249 bitcoins to another wallet of mine. Figuring out the Satoshi is pretty mind boggling to me as I'm new to this, can someone help me with what would be the recommend amount i should put? If you could put it in BTC amount that would be beneficial as I am using blockchain and doing an advanced send.

Thank you!

Hi,

The size of the fee has nothing to do with the amount of fund you're transferring, and everything to do with the amount of inputs/outputs (the size of the transaction).
Could you post the addresses from your wallet? That way at least we can have a look if you're collecting dust inputs.
It's important to think about the fee before creating a transaction, i've seen loads of people that are getting their transaction stuck when using blockchain.info lately, it appears this online wallet is not that good at estimating an appropriate fee...

If you don't want to post the addresses managed by your wallet, you can also use http://www.mocacinno.com/page/feeestimate

BTW: for such a bit amount of BTC, i'd strongly recommend to stop using an online wallet...

Thank you so much for your reply.

I'm a little confused about posting addresses from my wallet, I create a new address for literally every single transaction that I have ever done, i literally have 69 different addresses in my blockchain. Most of which are "archived", lol, call me a noob but I remember reading about creating new addresses for every transaction. What would I need to post in regards to those addresses? xpub key?

Yes, I was caught earlier in the stuck mode for almost 48 hours until I used viabtc accelerator. Do not want this to happen again.

Typically I go straight from blockchain to coinbase within a day, but am now using localbitcoins to sell my coins locally. I don't invest in the market, but I do accept it as a form of payment for services.

Creating a new address for every transaction is actually a good thing to do if you value your privacy. Don't post the xpub, nor all addresses. I suppose most addresses don't have any unspent outputs? With that i mean: most addresses are "empty", right?
If you want some privacy, just use "option 3" on my fee-estimator, and enter the addresses that are not "empty". The simulation is not perfect, but you'll get a basic idear about the size of the fee.

I'd still suggest you to switch to a desktop wallet. For example, electrum will give you the option to pick a number of inputs when generating a transaction (so you can calculate the correct fee pretty easily based on the number of inputs you chose), it also allows you to run a simulation and look at the size and the fee (and you can compare the simulation with https://bitcoinfees.21.co/ to know if the fee is sufficient).

Xylez
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May 12, 2017, 08:27:57 AM
 #5

Hi,

I am looking to transfer approximately 2.249 bitcoins to another wallet of mine. Figuring out the Satoshi is pretty mind boggling to me as I'm new to this, can someone help me with what would be the recommend amount i should put? If you could put it in BTC amount that would be beneficial as I am using blockchain and doing an advanced send.

Thank you!

Hi,

The size of the fee has nothing to do with the amount of fund you're transferring, and everything to do with the amount of inputs/outputs (the size of the transaction).
Could you post the addresses from your wallet? That way at least we can have a look if you're collecting dust inputs.
It's important to think about the fee before creating a transaction, i've seen loads of people that are getting their transaction stuck when using blockchain.info lately, it appears this online wallet is not that good at estimating an appropriate fee...

If you don't want to post the addresses managed by your wallet, you can also use http://www.mocacinno.com/page/feeestimate

BTW: for such a bit amount of BTC, i'd strongly recommend to stop using an online wallet...

Thank you so much for your reply.

I'm a little confused about posting addresses from my wallet, I create a new address for literally every single transaction that I have ever done, i literally have 69 different addresses in my blockchain. Most of which are "archived", lol, call me a noob but I remember reading about creating new addresses for every transaction. What would I need to post in regards to those addresses? xpub key?

Yes, I was caught earlier in the stuck mode for almost 48 hours until I used viabtc accelerator. Do not want this to happen again.

Typically I go straight from blockchain to coinbase within a day, but am now using localbitcoins to sell my coins locally. I don't invest in the market, but I do accept it as a form of payment for services.

Creating a new address for every transaction is actually a good thing to do if you value your privacy. Don't post the xpub, nor all addresses. I suppose most addresses don't have any unspent outputs? With that i mean: most addresses are "empty", right?
If you want some privacy, just use "option 3" on my fee-estimator, and enter the addresses that are not "empty". The simulation is not perfect, but you'll get a basic idear about the size of the fee.

I'd still suggest you to switch to a desktop wallet. For example, electrum will give you the option to pick a number of inputs when generating a transaction (so you can calculate the correct fee pretty easily based on the number of inputs you chose), it also allows you to run a simulation and look at the size and the fee (and you can compare the simulation with https://bitcoinfees.21.co/ to know if the fee is sufficient).

Again, thank you for taking the time to help me.

Out of the 69 addresses I have, 8 have "bitcoins in them", with one of the addresses carrying 2.34 bitcoins (just xfered my last highest amount to this address), the others just have amounts that are equal to cents which I do not care about. (they are too low to be xferred per block chain also)

Does that help at all? I can provide a screen shot of exact amounts if that is more beneficial
mocacinno
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May 12, 2017, 08:54:46 AM
 #6

Again, thank you for taking the time to help me.

Out of the 69 addresses I have, 8 have "bitcoins in them", with one of the addresses carrying 2.34 bitcoins (just xfered my last highest amount to this address), the others just have amounts that are equal to cents which I do not care about. (they are too low to be xferred per block chain also)

Does that help at all? I can provide a screen shot of exact amounts if that is more beneficial

Since you generated a new address each time you received funds, i suppose you can have a maximum of 8 inputs and  2 outputs when you create a new transaction.
Using this input in http://www.mocacinno.com/page/feeestimate , the maximum fee for a 95% chance of getting into the next 3 blocks would be 0.00276 BTC.
If your transaction only uses the one input of 2.34 BTC and creates one output (no change address) to LBC, the fee would drop to 0.00042 BTC.

If you're emptying out your blockchain.info wallet, and you're willing to wait a couple of hours, i'd recommand adding a fee around 0.002-0.0025
If you're sending an amount less than 2.34, but more than the 7 small inputs combined, i'd suggest a fee of 0.0004-0.0005

Please note that these are "educated guesses" based on your inputs and some reasonable assumptions. There is no way i can predict how many, and which, inputs blockchain.info will use to create your new transaction, unless you're completely emptying out your wallet (in that case, all unspent outputs will be used as inputs for the new transaction). Also, in the end, it's up to the miners to decide which tx's they'll add to the blocks they're currently working on. You can get super lucky and get added to the very next block with a suboptimal fee, you can also get super unlucky and have to wait days with a very reasonable fee... It's all odds and averages Wink

Xylez
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May 12, 2017, 03:18:46 PM
 #7

Again, thank you for taking the time to help me.

Out of the 69 addresses I have, 8 have "bitcoins in them", with one of the addresses carrying 2.34 bitcoins (just xfered my last highest amount to this address), the others just have amounts that are equal to cents which I do not care about. (they are too low to be xferred per block chain also)

Does that help at all? I can provide a screen shot of exact amounts if that is more beneficial

Since you generated a new address each time you received funds, i suppose you can have a maximum of 8 inputs and  2 outputs when you create a new transaction.
Using this input in http://www.mocacinno.com/page/feeestimate , the maximum fee for a 95% chance of getting into the next 3 blocks would be 0.00276 BTC.
If your transaction only uses the one input of 2.34 BTC and creates one output (no change address) to LBC, the fee would drop to 0.00042 BTC.

If you're emptying out your blockchain.info wallet, and you're willing to wait a couple of hours, i'd recommand adding a fee around 0.002-0.0025
If you're sending an amount less than 2.34, but more than the 7 small inputs combined, i'd suggest a fee of 0.0004-0.0005

Please note that these are "educated guesses" based on your inputs and some reasonable assumptions. There is no way i can predict how many, and which, inputs blockchain.info will use to create your new transaction, unless you're completely emptying out your wallet (in that case, all unspent outputs will be used as inputs for the new transaction). Also, in the end, it's up to the miners to decide which tx's they'll add to the blocks they're currently working on. You can get super lucky and get added to the very next block with a suboptimal fee, you can also get super unlucky and have to wait days with a very reasonable fee... It's all odds and averages Wink

THank you so much, my rate ended up being 816.568 sat/B, so I assume it is going to move pretty fast? I dont mind the fee if its quick, thanks again for the help. I really appreciate it
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May 13, 2017, 09:15:58 AM
 #8

Again, thank you for taking the time to help me.

Out of the 69 addresses I have, 8 have "bitcoins in them", with one of the addresses carrying 2.34 bitcoins (just xfered my last highest amount to this address), the others just have amounts that are equal to cents which I do not care about. (they are too low to be xferred per block chain also)

Does that help at all? I can provide a screen shot of exact amounts if that is more beneficial

Since you generated a new address each time you received funds, i suppose you can have a maximum of 8 inputs and  2 outputs when you create a new transaction.
Using this input in http://www.mocacinno.com/page/feeestimate , the maximum fee for a 95% chance of getting into the next 3 blocks would be 0.00276 BTC.
If your transaction only uses the one input of 2.34 BTC and creates one output (no change address) to LBC, the fee would drop to 0.00042 BTC.

If you're emptying out your blockchain.info wallet, and you're willing to wait a couple of hours, i'd recommand adding a fee around 0.002-0.0025
If you're sending an amount less than 2.34, but more than the 7 small inputs combined, i'd suggest a fee of 0.0004-0.0005

Please note that these are "educated guesses" based on your inputs and some reasonable assumptions. There is no way i can predict how many, and which, inputs blockchain.info will use to create your new transaction, unless you're completely emptying out your wallet (in that case, all unspent outputs will be used as inputs for the new transaction). Also, in the end, it's up to the miners to decide which tx's they'll add to the blocks they're currently working on. You can get super lucky and get added to the very next block with a suboptimal fee, you can also get super unlucky and have to wait days with a very reasonable fee... It's all odds and averages Wink

THank you so much, my rate ended up being 816.568 sat/B, so I assume it is going to move pretty fast? I dont mind the fee if its quick, thanks again for the help. I really appreciate it
Yeah.  Recommended fees are shown on this page, and they should make your transaction confirm within a block, so you spent over three times what you needed to.

Blockchain.info is an easy wallet to set a fee for because the fees they set are always similar to 120 satoshi/byte.  When you're on Advanced Send you'll see the fees that they set and you could roughly triple it, at which point you'd get very fast confirmations anyway.  800 satoshi/byte is probably not necessary.

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