Bitcoin Forum
December 13, 2024, 11:25:43 PM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Help needed! Transaction fees!  (Read 661 times)
atc1 (OP)
Sr. Member
****
Offline Offline

Activity: 308
Merit: 250


View Profile
November 25, 2013, 12:34:16 PM
 #1

Hey everyone,
I have a major question about transaction fees. Now,I've been working endlessly on all sorts of small bitcoin earning sites like bitvisitor,coinads etc. Now,they all pay out in uBTC. I have over 50 small transactions,all in uBTC. Now,suppose I want to spend this amount,will the transaction fees eat away most of it?



Rluner
Full Member
***
Offline Offline

Activity: 126
Merit: 100



View Profile
November 25, 2013, 01:01:45 PM
 #2

The below link should help you understand the way fees are calculated.

https://en.bitcoin.it/wiki/Transaction_fees
DannyHamilton
Legendary
*
Offline Offline

Activity: 3514
Merit: 4894



View Profile
November 25, 2013, 07:11:53 PM
 #3

they all pay out in uBTC. I have over 50 small transactions,all in uBTC. Now,suppose I want to spend this amount,will the transaction fees eat away most of it?

Yes.

And they know this.  They take advantage of uninformed newbies convincing them that their efforts will result in spendable value while hiding from them the fact that a huge portion of that value (many times all of it) will have to be used to pay transaction fees due to the overwhelming number of inputs required to use it.

Meanwhile, newbies see an ever increasing balance and recruit other newbies offering suggestions on how to earn "free bitcoins" with these sites.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!