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Author Topic: 0.012 btc wallet transaction fee?  (Read 853 times)
#Darren
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November 30, 2013, 02:37:26 AM
 #1

That's what my wallet wants to charge me??  I just wanted to send a total of 0.09 btc

That's like 12 dollars.

Can anyone explain?



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Remember remember the 5th of November
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November 30, 2013, 02:38:38 AM
 #2

That's what my wallet wants to charge me??  I just wanted to send a total of 0.09 btc

That's like 12 dollars.

Can anyone explain?
Perhaps you've accumulated a lot of dust outputs making the size of your transactions very large, thus the large fee.

BTC:1AiCRMxgf1ptVQwx6hDuKMu4f7F27QmJC2
#Darren
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November 30, 2013, 02:57:48 AM
 #3

That's what my wallet wants to charge me??  I just wanted to send a total of 0.09 btc

That's like 12 dollars.

Can anyone explain?
Perhaps you've accumulated a lot of dust outputs making the size of your transactions very large, thus the large fee.

What's a "dust output"?

I've only ever send bitcoin a few times.  Transactions were around 1 to 3 btc in size.



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November 30, 2013, 03:02:10 AM
 #4

That's what my wallet wants to charge me??  I just wanted to send a total of 0.09 btc

That's like 12 dollars.

Can anyone explain?
Perhaps you've accumulated a lot of dust outputs making the size of your transactions very large, thus the large fee.

What's a "dust output"?

I've only ever send bitcoin a few times.  Transactions were around 1 to 3 btc in size.
Like coins from faucets etc.

EDIT:Just checked your signature and it's indeed full of very tiny outputs.

BTC:1AiCRMxgf1ptVQwx6hDuKMu4f7F27QmJC2
#Darren
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November 30, 2013, 03:06:13 AM
 #5

That's what my wallet wants to charge me??  I just wanted to send a total of 0.09 btc

That's like 12 dollars.

Can anyone explain?
Perhaps you've accumulated a lot of dust outputs making the size of your transactions very large, thus the large fee.

What's a "dust output"?

I've only ever send bitcoin a few times.  Transactions were around 1 to 3 btc in size.
Like coins from faucets etc.

EDIT:Just checked your signature and it's indeed full of very tiny outputs.

Thanks for clarifying, yes I stopped mining btc a while back and just play with the faucets occassionally.

If I hold what is in there for a while will that fee decrease, or will it stay as is?



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█████████████████████████████████████████████████▀███████
      |                  |                  |            
Remember remember the 5th of November
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Activity: 1820
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November 30, 2013, 03:09:09 AM
 #6

That's what my wallet wants to charge me??  I just wanted to send a total of 0.09 btc

That's like 12 dollars.

Can anyone explain?
Perhaps you've accumulated a lot of dust outputs making the size of your transactions very large, thus the large fee.

What's a "dust output"?

I've only ever send bitcoin a few times.  Transactions were around 1 to 3 btc in size.
Like coins from faucets etc.

EDIT:Just checked your signature and it's indeed full of very tiny outputs.

Thanks for clarifying, yes I stopped mining btc a while back and just play with the faucets occassionally.

If I hold what is in there for a while will that fee decrease, or will it stay as is?
While miners do prefer older coins, the fee will not change. You can try to consolidate those outputs little by little, but how, I can't help you there.

BTC:1AiCRMxgf1ptVQwx6hDuKMu4f7F27QmJC2
marcotheminer
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November 30, 2013, 03:11:53 AM
 #7

That's what my wallet wants to charge me??  I just wanted to send a total of 0.09 btc

That's like 12 dollars.

Can anyone explain?
Perhaps you've accumulated a lot of dust outputs making the size of your transactions very large, thus the large fee.

What's a "dust output"?

I've only ever send bitcoin a few times.  Transactions were around 1 to 3 btc in size.
Like coins from faucets etc.

EDIT:Just checked your signature and it's indeed full of very tiny outputs.

Thanks for clarifying, yes I stopped mining btc a while back and just play with the faucets occassionally.

If I hold what is in there for a while will that fee decrease, or will it stay as is?
While miners do prefer older coins, the fee will not change. You can try to consolidate those outputs little by little, but how, I can't help you there.

Never knew that haah!

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Remember remember the 5th of November
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November 30, 2013, 03:14:01 AM
 #8

Transaction priority is based on this formula " // Priority is sum(valuein * age) / txsize" taken straight from the source. If the priority of your transaction was bigger or equal to 57,600,000 it will be mined without a fee, but of course miners can choose their own rules.

BTC:1AiCRMxgf1ptVQwx6hDuKMu4f7F27QmJC2
bg002h
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November 30, 2013, 03:47:07 AM
 #9

If you wait a long time it may become economical to spend your dust. The transaction fee defaults go down periodically as price goes up but most miners don't change the default settings; the next version of Bitcoin-Qt will hopefully have a market based, free floating transaction fee.


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