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Author Topic: how much transaction fee i need to pay?  (Read 559 times)
freebitcoins4u (OP)
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June 26, 2017, 06:54:55 PM
 #1

hey,

if i want to send 0.1 btc how much fee i should pay?
on multibit classic there is a slider for BTC to KB. if i choose 1,000 satoshi for 1 KB its give me to pay 53,000 satoshi for 0.1 BTC. is this enough?

i saw this recommendation:

"The fastest and cheapest transaction fee is currently 390 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 88,140 satoshis."

at:

https://bitcoinfees.21.co/

so what should i do? according to multibit it 1satoshi/byte?


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June 26, 2017, 07:01:01 PM
 #2

Use the recommended fee from the bitcoinfees website. If you add 88,300 satoshi to the transaction chances are it will get a better priority and will make your transaction confirm faster. It is a good thing that you asked first cause many other persons here open new threads every day for unconfirmed transaction because they don't ask. Do as the website says and not as Multibit says.

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June 26, 2017, 07:11:50 PM
 #3

I stumbled onto this page and I use it frequently to see how much to pay.

https://jochen-hoenicke.de/queue/#24h

The visualization makes it really easy to judge a fee based on your need.

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June 26, 2017, 07:18:33 PM
 #4

I always use the recommended fee and change the second digit of the satoshi amount with 1 or 2. That's the sweet spot for me.
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June 27, 2017, 11:39:17 AM
 #5

MultiBit classic is outdated and no longer maintained or developed. As such, it's fee system is outdated and does not reflect the current bitcoin network situation.

You will find that the maximum fee you can set in MultiBit Classic will result in at most around 50 sats/byte... which is VERY low by current standards. As such, any transaction you send from MultiBit Classic is likely to experience delays (aka get "stuck").

If you can create a transaction with "at least" 10 sats/byte, you can attempt to use the ViaBTC TX Accelerator... although this system is very popular and it is difficult to get one of the 100 slots they have per hour.

You other option is to export your private keys and sweep (or import) them into a wallet that supports "dynamic fees" like Electrum.

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