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Author Topic: Why bitcoin core set up low fee by default ?  (Read 399 times)
Uniex
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October 31, 2017, 09:32:42 AM
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Hi all!

I have updated bitcoin core on my server to 0.15.0.1 version, unfortunately after sending a small btc amount,
I saw that transaction fee was 20 sat/B it is too small to confirm in 10 minutes or around it.

I know that I can set up paytxfee, but I want that bitcoind server set it up automatically - how can I do that ?
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bob123
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October 31, 2017, 11:31:11 AM
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I know that I can set up paytxfee, but I want that bitcoind server set it up automatically - how can I do that ?

You have always to choose your transaction fee by yourself. There is no "bitcoin server" (neither a "bitcoind server").
The fee of 20 Sat/B appears to be the standard value in your client.
Next time, check https://bitcoinfees.21.co to see how big the fee has to be to get your TX confirmed within x blocks.
Ant the next time you forgot to change your fee you can use a free TX accelerator to get your transaction faster confirmed.
You can find those in the service section on this forum.

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October 31, 2017, 04:42:10 PM
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txconfirmtarget=<n> - will this config parameter help to automate setting the transaction fee value ?
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November 01, 2017, 07:50:38 PM
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txconfirmtarget=<n> - will this config parameter help to automate setting the transaction fee value ?

I have tested and I confirm that setting txconfirmtarget=1 in bitcoin.conf will automatically set up the fee, that will be enough to be confirmed in 1st block
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