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Author Topic: Is Blockchains 'quick send' option flawed?  (Read 749 times)
Arksun
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November 13, 2013, 10:56:03 PM
 #1

Is Blockchains Quick Send option inherently flawed?

I just made a transfer using it and then immediately regretted it as its still unconfirmed and the confirmation time & queue position keeps increasing. It says it made it using a 0 transfer fee. I had perhaps stupidly assumed quick send meant Blockchain gave the appropriate nominal fee amount to the transfer on your behalf, I didn't realise quick send actually meant no transfer fee!.

But what is the point of quick send at all if it means the chances of sending coins successfully is slim to none?

What I don't also get is, in Blockchains account settings there's an option to set the default fee, either Frugal, Normal, or Generous. It was set to normal.  I had assumed this specifically refers to the Quick Send option (as custom send you specify the fee amount yourself),  so why was my transfer of 0.01BTC done with no transaction fee attached?.




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November 14, 2013, 02:07:35 AM
 #2

The wallet probably determined that the transaction may be safely sent without a fee because of these conditions being met:

  • It is smaller than 10,000 bytes.
  • All outputs are 0.01 BTC or larger.
  • Its priority is large enough

Quick send automatically chooses the details for the transaction. If you want more control over your funds then use the "Custom" transaction type which allows you to set your own miners fee for the transaction so it may be included in a block quicker.
Arksun
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November 14, 2013, 03:01:49 AM
Last edit: November 14, 2013, 05:05:38 AM by Arksun
 #3

Yeah, I read about that after posting. Thing is, it is a 0.01 transaction so no fee added, but it seems to me miners are increasingly unlikely to want to process any kind of zero fee transaction anymore, mines still pending as unconfirmed, so perhaps blockchain and other sites ought to consider adding at least a small fee to all quick send transactions. I will be using custom from now on.


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November 14, 2013, 03:14:32 AM
 #4

You want to always add a fee.

Even sending $10,000 without a fee can take 6 hours to process as there are so many transactions already paying their way.
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