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Author Topic: TRANSACTION FEE???? WTF IS THIS?  (Read 1042 times)
NoWhammies (OP)
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December 24, 2013, 10:31:13 AM
 #1

Confirm transaction fee

This transaction is over the size limit. You can still send it for a fee of 0.0005 BTC, which goes to the nodes that process your transaction and helps to support the network. Do you want to pay the fee?

What is this?! I just want to send 0.00000001 BTC! … It's going to cost me 0.0005 BTC to send 0.00000001 BTC ?!?!
Lucky Cris
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December 24, 2013, 11:00:14 AM
 #2

You must be using Mulitbit or a similar client that doesn't all you to set your own transaction fee.

pizzabit
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December 24, 2013, 11:27:46 AM
 #3

use the official client then u can set the fee Smiley
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December 24, 2013, 11:42:24 AM
 #4

Confirm transaction fee

This transaction is over the size limit. You can still send it for a fee of 0.0005 BTC, which goes to the nodes that process your transaction and helps to support the network. Do you want to pay the fee?

What is this?! I just want to send 0.00000001 BTC! … It's going to cost me 0.0005 BTC to send 0.00000001 BTC ?!?!
1 satoshi transactions are actually sort of "banned" for now, some miners will accept them, but there must be a fee higher than what you are sending. It was made so it discourages dust transactions.

BTC:1AiCRMxgf1ptVQwx6hDuKMu4f7F27QmJC2
HellDiverUK
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December 24, 2013, 11:58:05 AM
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What is this?! I just want to send 0.00000001 BTC! … It's going to cost me 0.0005 BTC to send 0.00000001 BTC ?!?!

0.00000001 would likely never, ever go anywhere, it'd just be stuck Unconfirmed, so don't waste your time.

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December 25, 2013, 12:50:31 AM
 #6

What do you mean, WTF is this? It's a transaction fee. It's a fee you pay to send a transaction. Transactions consume network resources, you see, and the fee pays for that. It's not really a hard concept to grasp.

Bitcoin is not suitable for microtransactions and never will be. Using the vast resources of a high-speed international payment system to send less than a thousandth of a cent is like using an ICBM to deliver a pizza: it's technically possible and in fact may be the fastest way to do it, but don't complain about the cost.

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e521
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December 25, 2013, 12:53:19 AM
 #7

Quote
A transaction may be safely sent without fees if these conditions are met:
It is smaller than 10,000 bytes.
All outputs are 0.01 BTC or larger.
Its priority is large enough (see the Technical Info section below)

First result on google for bitcoin transaction fee.

bitpop
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December 25, 2013, 01:57:42 AM
 #8

You cant send that much as of now. Wait a couple years.

NoWhammies (OP)
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February 14, 2014, 06:08:56 AM
 #9

All good answers, thanks all!  Wink
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February 14, 2014, 02:54:00 PM
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