Bitcoin Forum
September 19, 2018, 02:01:54 PM *
News: ♦♦ Bitcoin Core users must update to 0.16.3 [Torrent]. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: [HELP] Fees & the 'Armory' client  (Read 360 times)
Automatic
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
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,
Automatic.

Please ask for a signed message from my on-site Bitcoin address (Check my profile) before doing any offsite trades with me.
1537365714
Hero Member
*
Offline Offline

Posts: 1537365714

View Profile Personal Message (Offline)

Ignore
1537365714
Reply with quote  #2

1537365714
Report to moderator
Make a difference with your Ether.
Donate Ether for the greater good.
SPRING.WETRUST.IO
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537365714
Hero Member
*
Offline Offline

Posts: 1537365714

View Profile Personal Message (Offline)

Ignore
1537365714
Reply with quote  #2

1537365714
Report to moderator
1537365714
Hero Member
*
Offline Offline

Posts: 1537365714

View Profile Personal Message (Offline)

Ignore
1537365714
Reply with quote  #2

1537365714
Report to moderator
PenAndPaper
Sr. Member
****
Offline Offline

Activity: 252
Merit: 250


View Profile
November 22, 2013, 11:17:33 AM
 #2

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.
Automatic
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
November 22, 2013, 11:20:43 AM
 #3

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.


Please ask for a signed message from my on-site Bitcoin address (Check my profile) before doing any offsite trades with me.
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!