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Author Topic: [HELP] Fees & the 'Armory' client  (Read 347 times)
Automatic
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November 22, 2013, 11:09:34 AM
 #1

So, I tested out the Armory client, threw a few BTC at it then sent it back:-
https://blockchain.info/tx/1bc9733c557833d9a41b0f67c20e007fbf906e53e988abfdfe26f753e40ca2a6

Everything was good, until, well, it forced me to send a 0.0005 fee, which, isn't a lot until you take into consideration it's almost $0.40 to send $7, almost a 5% tax for sending. Looking into the BTC specifications:-
https://en.bitcoin.it/wiki/Transaction_fees

Should it have not been a 0.0001 fee?

Code:
Otherwise, the reference implementation will round up the transaction size to the next thousand bytes and add a fee of 0.1 mBTC (0.0001 BTC) per thousand bytes[1]. As an example, a fee of 0.1 mBTC (0.0001 BTC) would be added to a 746 byte transaction

The transaction itself was only 587 bytes, which, rounded up to the next thousand is 1,000, which, is a .1mBTC (0.0001BTC) fee. I understand the software is beta, and, it may have been a bug, but, can anyone tell me why (assuming it wasn't a bug) it forced me to pay .5mBTC rather than .1mBTC?

Thanks,
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November 22, 2013, 11:17:33 AM
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The default fee was 0.0005/1k bytes before bitcoin-qt 0.8.2.
Maybe they haven't changed that or maybe they want to play it super safe. I don't know.
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November 22, 2013, 11:20:43 AM
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The default fee was 0.0005/1k bytes before bitcoin-qt 0.8.2.
Maybe they haven't changed that or maybe they want to play it super safe. I don't know.


It made me install BitCoin-QT, so, I suppose it uses that as a backend (well, duh, it's all over their site), so, wouldn't they just use some kind of constant from the QT client? I'm not exactly sure, I don't develop BitCoin products.


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