Lox500 (OP)
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January 29, 2014, 07:12:01 PM |
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I have made a bitcoin transaction and took 1 hour to be validated ! This is too much ! Why takes time for a simple transaction ? Why I must pay a fee ? Who take the fee ? A lot o people tell that bitcoin transaction its free and easy but I do not believe it now. Takes a lot of time and its not reliable .
Probably in the future will be more safe and fast.
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MakeBelieve
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January 29, 2014, 07:35:20 PM |
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I have made a bitcoin transaction and took 1 hour to be validated ! This is too much ! Why takes time for a simple transaction ? Why I must pay a fee ? Who take the fee ? A lot o people tell that bitcoin transaction its free and easy but I do not believe it now. Takes a lot of time and its not reliable .
Probably in the future will be more safe and fast.
You pay a fee to the miners. |
On a mission to make Bitcointalk.org Marketplace a safer place to Buy/Sell/Trade
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somenormalguy
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January 29, 2014, 08:42:47 PM |
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Miners that secure the network get the fee. If you compare the fees of other payment processors, it's not so bad.
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Lox500 (OP)
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January 29, 2014, 08:53:09 PM |
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the fee its not big but must be free
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rikkie
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January 29, 2014, 08:57:14 PM |
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How much fee do you have to pay for a transaction of bitcoin? Is this for every amount (very small, ...) the same? Where can you find how much the fee is?
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Lox500 (OP)
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January 29, 2014, 09:23:28 PM |
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and who check the transactions? why they need 1 hour to approve the transaction ? this is strange and probably somebody supervise all activity .
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Kiki112
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January 29, 2014, 09:25:54 PM |
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and who check the transactions? why they need 1 hour to approve the transaction ? this is strange and probably somebody supervise all activity .
you have to wait for miners to confirm it.. the smaller the fee the longer it takes  |
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yatsey87
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January 29, 2014, 10:03:30 PM |
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the fee its not big but must be free
You don't have to pay a fee. And the money is sent almost instantly, you just need to wait for full confirmations to spends it. |
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cp1
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January 29, 2014, 10:05:05 PM |
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A lot o people tell that bitcoin transaction its free and easy but I do not believe it now. It's not free or easy, they were lying. |
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ZephramC
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January 30, 2014, 11:09:45 AM |
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the fee its not big but must be free
You don't have to pay a fee. And the money is sent almost instantly, you just need to wait for full confirmations to spends it. Well. There are two levels to this problem. 1) With low fee you risk that miners won't include your transaction into new block for some time. This tradeoff between speed and cost is all right with me and it is a subject to competition of mining pools. 2) For some transactions you risk that reference client (that is majority of Bitcoin network) won't even relay your transactions. So this transaction do not even reach the miners. This is not so much subject to competition because reference client with rules set by developers is in great majority. (However, theoretically, anyone can modify reference client and spread it to community to adopt different relaying rules.) For anyone saying: "You actually can send transactions for free in Bitcoin", I have a (theoretical as it does not concern me at the moment) question:
"I want to send 1000 to 10000 transactions per hour. All transactions are very recent outputs and all are worth fractions of cent. (<0.00001 BTC, that is more than 1 Satoshi but less than 1000 Satoshis) I do not want to pay ANY fees. I do not mind to wait several months, even a year for first confirmation. What options do I have?? (as a common user who wants to point and click and do not want to push raw transactions or compile own client or think too much.)"There is nothing like "free lunch". |
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Sonny
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January 30, 2014, 11:17:54 AM |
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the fee its not big but must be free
You don't have to pay a fee. And the money is sent almost instantly, you just need to wait for full confirmations to spends it. Well. There are two levels to this problem. 1) With low fee you risk that miners won't include your transaction into new block for some time. This tradeoff between speed and cost is all right with me and it is a subject to competition of mining pools. 2) For some transactions you risk that reference client (that is majority of Bitcoin network) won't even relay your transactions. So this transaction do not even reach the miners. This is not so much subject to competition because reference client with rules set by developers is in great majority. (However, theoretically, anyone can modify reference client and spread it to community to adopt different relaying rules.) For anyone saying: "You actually can send transactions for free in Bitcoin", I have a (theoretical as it does not concern me at the moment) question:
"I want to send 1000 to 10000 transactions per hour. All transactions are very recent outputs and all are worth fractions of cent. (<0.00001 BTC, that is more than 1 Satoshi but less than 1000 Satoshis) I do not want to pay ANY fees. I do not mind to wait several months, even a year for first confirmation. What options do I have?? (as a common user who wants to point and click and do not want to push raw transactions or compile own client or think too much.)"There is nothing like "free lunch". Pretty much agree to what you said. BTW, creating raw tx is the troublesome and dangerous part, while pushing it is indeed very easy. Just head over to https://blockchain.info/pushtx and click submit  |
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TenaciousC
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January 30, 2014, 11:33:21 AM |
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Crap, the standard fee should be set to 0.00005 in the wallet... seems it was changed to 0 for me (dunno why cause i had it set to 0.0001 before) or you should at least get a warning when your fee is set to low...
now I've got a transaction of 0.25BTC pending, floating around... wonder how long it is gonna take, days, weeks, months?
Is there a possibility existing to still add a fee to an already send out transaction?
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Sonny
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January 30, 2014, 11:41:42 AM |
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Is there a possibility existing to still add a fee to an already send out transaction?
Not at this moment. Some said such feature could be implemented later. You can double spend it, but there is no easy way to "add" a fee to an existing transaction. Crap, the standard fee should be set to 0.00005 in the wallet... seems it was changed to 0 for me
For a high-priority transaction, you can send it without any fee, and the wallet will not complain about it. It will take more time (maybe a hour or so), but it will get included in a block eventually. |
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SlowMotion
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January 30, 2014, 11:47:46 AM |
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The miners need a feed to still working for u
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TenaciousC
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January 30, 2014, 11:52:34 AM |
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The miners need a feed to still working for u
That I fully comprehend, it was never my intention to not put a fee, dunno how come it was set to zero... Problem is i now got this transaction send out and their is no way to add a fee or get the transaction cancelled, so only thing to do is wait, wait and wait a bit more. With doge for example i noticed the wallet complained when the transaction size exceeded thesize for the set fee, so you can easily accept to increase the fee and all is good |
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TenaciousC
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January 30, 2014, 11:54:01 AM |
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Is there a possibility existing to still add a fee to an already send out transaction?
Not at this moment. Some said such feature could be implemented later. You can double spend it, but there is no easy way to "add" a fee to an existing transaction. Crap, the standard fee should be set to 0.00005 in the wallet... seems it was changed to 0 for me
For a high-priority transaction, you can send it without any fee, and the wallet will not complain about it. It will take more time (maybe a hour or so), but it will get included in a block eventually. How do i double spend it, isn't that a bad thing? and what is a high pri transaction? sorry for the noob questions  |
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Sonny
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January 30, 2014, 01:19:46 PM |
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what is a high pri transaction?
High-priority (free) transaction: https://en.bitcoin.it/wiki/Transaction_fees#SendingIf your tx satisfies the three conditions, your wallet will allow you to send it without any fee. If it is the case, you probably don't need to do anything. Just give it a few hours (at worst), the tx will probably be confirmed. |
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TenaciousC
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January 30, 2014, 01:28:43 PM |
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what is a high pri transaction?
High-priority (free) transaction: https://en.bitcoin.it/wiki/Transaction_fees#SendingIf your tx satisfies the three conditions, your wallet will allow you to send it without any fee. If it is the case, you probably don't need to do anything. Just give it a few hours (at worst), the tx will probably be confirmed. Cool ,thanks for the info, very much appreciated! |
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Sonny
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January 30, 2014, 02:01:27 PM |
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what is a high pri transaction?
High-priority (free) transaction: https://en.bitcoin.it/wiki/Transaction_fees#SendingIf your tx satisfies the three conditions, your wallet will allow you to send it without any fee. If it is the case, you probably don't need to do anything. Just give it a few hours (at worst), the tx will probably be confirmed. Cool ,thanks for the info, very much appreciated! No problem |
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