I am stupid?

[Kerobelos]

Hello!

How are you? I hope you're fine

 


Since the last few days the commissions of bitcoin have increased greatly from my point of view. I wonder if this is normal or has happened to more people? Since in the last transaction I wanted to send 0.1 BTC (Something like 200 $) and I have been charged almost 20 $ of commission. That is, almost 10% transaction fees. I use blockchain and therefore always paid the highest amount recommended to get a block (264 satoshi by bite) to receive fast confirmations, but always 4$-5$ MAX OF FEES in my old transactions of 200$, now is almost 20$ of fees!!!, but I do not know if I am acting like an idiot paying those recomendations fees of blockchain. Is it normal to pay so much? I would like to know your experiences or some recommendations if it is not a problem for you, thank you.


https://blockchain.info/es/tx/025a681083e50c6a60c4930b2b98682c1e5bb7c8894723af07952cea22308212 <---. Here you can see my las transaction and the fees.

[RoommateAgreement]

the transaction fee is calculated based on the size of your transaction not how much you are sending and the size is in bytes as in the data that you are sending out.

your transaction size was big and that is why you had to pay a larger fee it was 3473 (bytes) nearly 3.5 kilo bytes!

and also your transaction won't be confirmed because you are spending 2 outputs that are not yet confirmed! and it gets worse, those 2 outputs are also spending 2 unconfirmed outputs!
so until these previous ones are confirmed, yours wont't.

[Wandika]

Hello!

How are you? I hope you're fine

 


Since the last few days the commissions of bitcoin have increased greatly from my point of view. I wonder if this is normal or has happened to more people? Since in the last transaction I wanted to send 0.01 BTC (Something like 200 $) and I have been charged almost 20 $ of commission. That is, almost 10% transaction fees. I use blockchain and therefore always paid the highest amount recommended to get a block (264 satoshi by bite) to receive fast confirmations, but always 4$-5$ MAX OF FEES in my old transactions of 200$, now is almost 20$ of fees!!!, but I do not know if I am acting like an idiot paying those recomendations fees of blockchain. Is it normal to pay so much? I would like to know your experiences or some recommendations if it is not a problem for you, thank you.


https://blockchain.info/es/tx/025a681083e50c6a60c4930b2b98682c1e5bb7c8894723af07952cea22308212 <---. Here you can see my las transaction and the fees.

The recommended fee for blockchain are not 10% of transaction. I didn't experience that high fee. But paying such high is absurd and not efficient. Blockchain wallet have many issue. It is better to transfer all your funds no to other wallet like electrum and mycellium so that your issue on high fee will resolve. For me it is normal increase the suggested fee but make sure that the suggested fee are right for the amount you are transacting.

[Kerobelos]

Man, that already seemed to me quite rare to pay so much. As for Electrum and Milly, what other wallets do you recommend? Is Xapo good?
I do not want to pay that much anymore.

[Pearls Before Swine]

You made a decimal point error.  0.01 btc is not $200, 0.1 btc is.  Don't be sloppy.

Transaction fees are high, and you ought to chime in on the many bitch threads that are being created about the problem.   You're not alone by any means.   Blockchain wallet sucks, though.   That's part of your problem.

I'm not a wallet expert, but stay away from online wallets including xapo.  Others I'm sure wil give you good suggestions.  I use Coinomi for android and it's great.

[Kerobelos]

Yes, I fixed that decimal, thank you. That's why I asked what's the best wallet in my last reply with less fees, but I will be happy of read your opinion. I am not an experienced bitcoin user like you, people learn by asking and looking.

[amacar2]

Man, that already seemed to me quite rare to pay so much. As for Electrum and Milly, what other wallets do you recommend? Is Xapo good?
I do not want to pay that much anymore.

If you don't want to pay much in transaction fee than don't receive micro payments in bitcoin. If you receive small amount of bitcoin multiple times you have to pay much more fees to send all of them out of your wallet. Using different wallet can't help you on this, so avoid receiving very small sum of bitcoin.

[Kerobelos]

Thank you 

[bL4nkcode]

Man, that already seemed to me quite rare to pay so much. As for Electrum and Milly, what other wallets do you recommend? Is Xapo good?
I do not want to pay that much anymore.

If you don't want to pay much in transaction fee than don't receive micro payments in bitcoin. If you receive small amount of bitcoin multiple times you have to pay much more fees to send all of them out of your wallet. Using different wallet can't help you on this, so avoid receiving very small sum of bitcoin.

This is right as you can see in the TXID, your transaction composed of 3473 bytes and that is riduculous size, that's why the recommended fee was so high to confirm it faster. And whether you use any wallet if you have received a lot of micro payments like what mentioned above then expect a higher fees, or expect a longer confirmation for your any transaction you will make If yoi will not use the recommended fee.

[Kerobelos]

I did not know it. Many thanks to all for your response. My doubt I think it is already resolved, so the subject can be closed