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Author Topic: Transaction fee  (Read 1398 times)
Andrew Vorobyov
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July 10, 2011, 09:01:22 AM
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I've paid 1.5% transaction fee just now instead 0.5% that my wallet was configured. Was sending 0.2 and fee was set for 0.001 but paid 0.003 instead. I have 0.3.24 client.

1. Why my config was ignored?
2. Don't you think that 1.5% is not so competitive?
3. How can I enforce my fees in future?

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ottodv
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July 10, 2011, 09:11:08 AM
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That's because the fee is per kilobyte:
https://en.bitcoin.it/wiki/Transaction_fees
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July 10, 2011, 09:19:14 AM
 #3

I've paid 1.5% transaction fee just now instead 0.5% that my wallet was configured. Was sending 0.2 and fee was set for 0.001 but paid 0.003 instead. I have 0.3.24 client.

1. Why my config was ignored?
2. Don't you think that 1.5% is not so competitive?
3. How can I enforce my fees in future?

The software is not configured to pay a % fee. The various versions have diferent minimum fees, some none, some .01, the most recent I believe has .0005. That is less than 1 cent. Pretty competitive imo. Some tx will even be able to avoid the min. Large tx and old coins do not look like spam so the network will forward them even with no fee.

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July 10, 2011, 06:41:08 PM
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I've paid 1.5% transaction fee just now instead 0.5% that my wallet was configured. Was sending 0.2 and fee was set for 0.001 but paid 0.003 instead. I have 0.3.24 client.

1. Why my config was ignored?
2. Don't you think that 1.5% is not so competitive?
3. How can I enforce my fees in future?

Change your fee back to the default 0.0005 (or something else). Make sure you are running the current release of Bitcoin. Better yet, set the fee to 0, and then Bitcoin will send your transactions with no fee, and prompt you if you create a transaction that actually needs a fee.

Stop getting tiny mining payouts. These increase the size of your transaction when you spend them, increasing the fees you must pay.

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