Bitcoin Forum
November 15, 2018, 09:22:41 AM *
News: Latest Bitcoin Core release: 0.17.0 [Torrent].
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: 0.00175028 btc transaction fee  (Read 186 times)
Bitcoexplorer
Newbie
*
Offline Offline

Activity: 13
Merit: 0


View Profile
November 14, 2017, 07:17:38 AM
 #1

Is it ok to use this transaction fee at the moment  or there's risk of unconfirmed tx?

Thanks!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
buwaytress
Hero Member
*****
Offline Offline

Activity: 798
Merit: 734


I bit, therefore I am


View Profile
November 14, 2017, 07:50:28 AM
 #2

The efficiency of your fee is not dependent on the actual amount of coins, but on how much they are in proportion to the size of your transaction, expressed in satoshi per byte (sat/byte).

So in your case: 175028/input size = fee in sat/byte

Assuming you only have 1 input (we can't know for sure, but you should be able to preview your tx in your wallet to see) with an average of 250 bytes, your fee would be just above 700 sats/byte. That would get you confirmed fairly quickly right now (within 2 blocks estimation)

Check it against https://bitcoinfees.earn.com/ for an estimation of how long that would take to confirm.

Bitcoexplorer
Newbie
*
Offline Offline

Activity: 13
Merit: 0


View Profile
November 14, 2017, 08:04:55 AM
 #3

The efficiency of your fee is not dependent on the actual amount of coins, but on how much they are in proportion to the size of your transaction, expressed in satoshi per byte (sat/byte).

So in your case: 175028/input size = fee in sat/byte

Assuming you only have 1 input (we can't know for sure, but you should be able to preview your tx in your wallet to see) with an average of 250 bytes, your fee would be just above 700 sats/byte. That would get you confirmed fairly quickly right now (within 2 blocks estimation)

Check it against https://bitcoinfees.earn.com/ for an estimation of how long that would take to confirm.

Thanks a lot buwa Smiley

I have got 4 inputs (4 different times I bought btc) and now want to move from exchange to wallet.
So it would be 175028/(250*4)=175.028 sats/byte?

Cheers!
buwaytress
Hero Member
*****
Offline Offline

Activity: 798
Merit: 734


I bit, therefore I am


View Profile
November 14, 2017, 08:33:11 AM
 #4

The efficiency of your fee is not dependent on the actual amount of coins, but on how much they are in proportion to the size of your transaction, expressed in satoshi per byte (sat/byte).

So in your case: 175028/input size = fee in sat/byte

Assuming you only have 1 input (we can't know for sure, but you should be able to preview your tx in your wallet to see) with an average of 250 bytes, your fee would be just above 700 sats/byte. That would get you confirmed fairly quickly right now (within 2 blocks estimation)

Check it against https://bitcoinfees.earn.com/ for an estimation of how long that would take to confirm.

Thanks a lot buwa Smiley

I have got 4 inputs (4 different times I bought btc) and now want to move from exchange to wallet.
So it would be 175028/(250*4)=175.028 sats/byte?

Cheers!

Not exactly... I was just estimating on average input size. You mentioned that you were moving from an exchange to wallet? Exchanges don't usually count input size and put a flat fee on withdrawals, so I doubt you'd be able to set an exact fee. Just got to trust the exchange will do right.

Can you provide more detail: are you making a spend or withdrawing from an exchange?

If making a spend from your wallet, what wallet are you using? You should be able to view your input size, set fees and preview tx, depending on the type of wallet you're using.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!