o_e_l_e_o
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March 28, 2019, 09:25:49 AM |
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I simply just want to make a purchase of 128$ U.S. but I obviously need more than 128$ U.S. in my Bitcoin Account since I need to pay the Fees which I was hoping there was some way to get a rough estimate of what it might be so I can simply just send a bit more than what it should be roughly so that way I got enough in my wallet before sending the money so I don't have to send to Transactions due to my first one being not enough to cover the fees? An extra dollar is almost certainly going to be more than enough. With bitcoin, your coins are stored as unspent transaction outputs (UTXOs). The final balance of your address is the sum of all your UTXOs. You could have a balance of $128 made up of one UTXO worth $128, or of 50 UTXOs of various values, or even of 1000 UTXOs each worth a few cents. Each UTXO you have to use to make a transaction counts as an "input", and each input incurs an additional fee. Transferring a single UTXO worth $128 will cost very little in fees, but transferring 1000 UTXOs worth a combined total of $128 will cost much, much more. The way you have phrased it makes me think you going to make a single purchase of $128 and then transfer that to another address. If that is the case, the $128 will be a single UTXO and the fees will be very small. If that's the case, at current recommended fees of 3 sats/byte, you would end up needing somewhere around $0.05 (5 cents) to cover the fee. |
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Activitycoin
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March 28, 2019, 11:47:29 AM |
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I think it will affect the bitcoin negatively as a whole when the sending fee is too high, even higher to the likes of PayPal. Because why use bitcoin when do you have other medium to send money at a lower fee? I personally use bitcoin to play some games at vegascasino for a chance to win more bitcoin. I think It is not that big deal as we know sending bitcoin is not so a problem because we are paying a good and affordable fee on time, if sending will be no cost I think it will slow down because long ago free transaction has been done but it was slow as it can take day or more than this so for huge business we will have to sacrifice something smaller than our profit. |
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Babyrica0226
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March 28, 2019, 12:37:41 PM |
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Do I find out the hard way after I make my purchase with the educated guess that Bitcoin pricing is stable long enough that from my understanding the more popular Bitcoin is worth and the more money each Bitcoin is worth among other factors is what influences the Bitcoin Fee is there an app of some sort I can use on my Cell Phone to let me know the current Blockchain Wallet Sending Fees will be as that is the Wallet I am using for simply Sending Bitcoin into and Sending out of.
Any help explaining how this works would be greatly appreciated as it is frustrating not knowing what my Bitcoin Fee is going to be hence I don't know how much money in Bitcoin more than what I am spending on my purchase that I need to acquire?
I just don't exactly get what you are trying to pointing out here dude. I'm not so sure if you are talking about the transaction fee on Bitcoin, because if this what you are asking for mate, transaction charge fee was always depend on the exchange platform. |
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BitBustah
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March 28, 2019, 01:50:52 PM |
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Transactions are always cheap if you are willing to wait. The only people that end up paying really high fees are those that need to send within the next block and are fine with paying any fee. This is why people were paying over $20 to send within the next block during the bull run.
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Thomas29 (OP)
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Activity: 100
Merit: 33
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March 28, 2019, 03:58:00 PM |
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I simply just want to make a purchase of 128$ U.S. but I obviously need more than 128$ U.S. in my Bitcoin Account since I need to pay the Fees which I was hoping there was some way to get a rough estimate of what it might be so I can simply just send a bit more than what it should be roughly so that way I got enough in my wallet before sending the money so I don't have to send to Transactions due to my first one being not enough to cover the fees? An extra dollar is almost certainly going to be more than enough. With bitcoin, your coins are stored as unspent transaction outputs (UTXOs). The final balance of your address is the sum of all your UTXOs. You could have a balance of $128 made up of one UTXO worth $128, or of 50 UTXOs of various values, or even of 1000 UTXOs each worth a few cents. Each UTXO you have to use to make a transaction counts as an "input", and each input incurs an additional fee. Transferring a single UTXO worth $128 will cost very little in fees, but transferring 1000 UTXOs worth a combined total of $128 will cost much, much more. The way you have phrased it makes me think you going to make a single purchase of $128 and then transfer that to another address. If that is the case, the $128 will be a single UTXO and the fees will be very small. If that's the case, at current recommended fees of 3 sats/byte, you would end up needing somewhere around $0.05 (5 cents) to cover the fee. This answered my question thank you to everyone who replied. |
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BorisWCR
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March 29, 2019, 04:52:48 AM |
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Of course, if the Bitcoin transaction fee will change either that it will become high or super low, this will bring a huge impact in the Bitcoin crypto currency market. As we all know, more people wants the low price of the Bitcoin transaction for their own satisfaction but the people are not the one that can choose what price they wanted for the Bitcoin sending fees.
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shesheboy
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March 29, 2019, 09:13:52 AM |
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Of course, if the Bitcoin transaction fee will change either that it will become high or super low,
that's normal and that is caused by volatility of the price . this will bring a huge impact in the Bitcoin crypto currency market.
huge impact ? no i dont think so . as i mentioned earlier the fees fluctuates along with the price of the coins not only today but even before im . sure that people are already aware and used with it . As we all know, more people wants the low price of the Bitcoin transaction for their own satisfaction but the people are not the one that can choose what price they wanted for the Bitcoin sending fees.
yes people loves low transaction fees and yes they can possibly set the fees on thier own discretions . some other wallets/exchanges have an option for costumizing fee while others are automatically set depending on the current price of the coins . besides people can always use other cheap coins for lesser fees and more faster processing . |
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Ucy
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March 30, 2019, 09:25:17 AM |
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It usually depends on the number of transactions on the blockchain. If the transaction volume is high the blockchain normally gets clogged and the fee goes up. At this point the miners tend to focus on people who pay more fees to get their transactions confirmed.
I guess we should not worry about fee now until more people start using Bitcoin again.
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okala
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March 30, 2019, 10:27:07 AM |
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I don't know the bitcoin wallet you are using is but most of the bitcoin wallet always display your sending fee once you input you sending amount, what really determine the amount being charged as fees is the level of transactions being carried out on the blockchain at that particular time.
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Bl4nk
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March 30, 2019, 11:46:13 AM |
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I don't know the bitcoin wallet you are using is but most of the bitcoin wallet always display your sending fee once you input you sending amount, what really determine the amount being charged as fees is the level of transactions being carried out on the blockchain at that particular time.
will we continue to transact if the increase in the block chain is being greatly increased, or conversely waiting for a decrease in transaction costs on the blockchain |
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o_e_l_e_o
In memoriam
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March 30, 2019, 05:10:46 PM |
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Transactions are always cheap if you are willing to wait. It really depends on how long you are willing to wait, and what the mempool is doing at the time. For the last several months, the mempool has been pretty much emptying each night (UTC time), allowing even transactions with fees as low as 1 sat/byte to be processed. There are plenty of times in the past when this has not been the case, however. In fact, the mempool has been steadily filling up for the last few days, meaning 1 sat/byte transactions are going untouched. During the peak of the bull run, there was a period of around 3 months where you would be lucky for anything with a fee of less than around 30 sats/byte to be processed. So yes, they are always cheap if you are willing to wait, but sometimes you have to wait a few hours, and other times you have to wait a few weeks. |
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Karamabit_209
Newbie
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Activity: 104
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April 08, 2019, 06:35:22 AM |
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Do I find out the hard way after I make my purchase with the educated guess that Bitcoin pricing is stable long enough that from my understanding the more popular Bitcoin is worth and the more money each Bitcoin is worth among other factors is what influences the Bitcoin Fee is there an app of some sort I can use on my Cell Phone to let me know the current Blockchain Wallet Sending Fees will be as that is the Wallet I am using for simply Sending Bitcoin into and Sending out of.
Any help explaining how this works would be greatly appreciated as it is frustrating not knowing what my Bitcoin Fee is going to be hence I don't know how much money in Bitcoin more than what I am spending on my purchase that I need to acquire?
I would be honest, your English is really bad man. You should try to learn it so that you can communicate to other people with ease. Well, to answer your question with regarding to transaction fees, visit this site . This site has one of the cheapest transaction fee available. And not only that, it has very fast transaction speeds, has no currency risk, and you can even pay an online business or a physical transactions by the use of it. |
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Kamoteng Kahoy
Newbie
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Activity: 52
Merit: 0
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April 08, 2019, 06:56:01 AM |
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Do I find out the hard way after I make my purchase with the educated guess that Bitcoin pricing is stable long enough that from my understanding the more popular Bitcoin is worth and the more money each Bitcoin is worth among other factors is what influences the Bitcoin Fee is there an app of some sort I can use on my Cell Phone to let me know the current Blockchain Wallet Sending Fees will be as that is the Wallet I am using for simply Sending Bitcoin into and Sending out of.
Any help explaining how this works would be greatly appreciated as it is frustrating not knowing what my Bitcoin Fee is going to be hence I don't know how much money in Bitcoin more than what I am spending on my purchase that I need to acquire?
I would be honest, your English is really bad man. You should try to learn it so that you can communicate to other people with ease. Well, to answer your question with regarding to transaction fees, visit this site . This site has one of the cheapest transaction fee available. And not only that, it has very fast transaction speeds, has no currency risk, and you can even pay an online business or a physical transactions by the use of it. Haha yes man, his English seriously needed some help. It's important for us to at least have a good English so that we can communicate to people. |
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kucritt
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April 08, 2019, 01:12:57 PM |
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you can try it with small amount bitcoin, i think if we send bitcoin with high fees we will get the priority seat, its mean that our transaction will reach the destination in fast way, but if you send it with low fees i think the confirmation and your bitcoin will slower than you use the high fees
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Moiyah
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May 02, 2019, 03:55:18 AM |
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the more popular Bitcoin is worth and the more money eachBitcoin is worth among other factors is what influences the Bitcoin Fee
The value of bitcoin doesn't depend on it's popularity. It depends on the demand and supply in the market. The fees you are pertaining is the share of the miner through your transactions. If it is vague to you, search about the miner's fee. Also, in every exchanges there are particular fee. Choose an exchange who offers small fee. |
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Afnan_faizah
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May 02, 2019, 04:04:21 AM |
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Actually you can set the fee as you want but tho lower fee you set then the probability of transaction delay is high too. Actually when the transaction fee is high the market show negativity trend. I remember when bitcoin price reach 20.000 usd the transaction fee is feel so expensive. Some of my friends prefer to send crypto to me in form of ETH.
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Sepertinya sudah waktunya, kalau menurut saya lebih baik lump sum sekarang. 30/01/2024.
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jakezyrus
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May 02, 2019, 04:14:10 AM |
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If ever bitcoin sending fee will be super high i think i will still use my bitcoin for transaction but it depends on how high the fee was . some sites , wallets , exchanges do have different transaction fees and some enables you to choose between slow , mid and high priority . i will only choose mid or low if high priority is too expensive .
But if all the options above are not possible i guess ill have to use another cheaper coin if available .
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Alpinat
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May 14, 2019, 12:28:26 PM |
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Actually you can set the fee as you want but tho lower fee you set then the probability of transaction delay is high too. Actually when the transaction fee is high the market show negativity trend. I remember when bitcoin price reach 20.000 usd the transaction fee is feel so expensive. Some of my friends prefer to send crypto to me in form of ETH.
Yes you are correct mate, we all can set the transaction fee that we make but we should expect that the smaller the transaction fee the longer we'll wait. Except for those local wallets that are setting their own transaction fee that you need to pay before sending or making a transaction. |
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Mike Mayor
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June 12, 2019, 08:18:02 AM |
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If ever bitcoin sending fee will be super high i think i will still use my bitcoin for transaction but it depends on how high the fee was . some sites , wallets , exchanges do have different transaction fees and some enables you to choose between slow , mid and high priority . i will only choose mid or low if high priority is too expensive .
But if all the options above are not possible i guess ill have to use another cheaper coin if available .
You can just use your Bitcoin for transactions over $100 and for less then $100 you use doge or eth or ltc or something. Many more places have now accepted altcoins and have a drop down menu to select them. Coinpayments has had this for quite a while now. It also helps get more people involved and using altcoins. Giving use to more coins then just bitcoin is a great idea. |
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Apes
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June 12, 2019, 08:46:50 AM |
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Transactions using the mobile app usually don't have many options available, unlike using a desktop application. In general, transactions on the mobile app are given a transfer fee offer, you can choose the cost that suits. the faster the transfer process the greater the costs incurred, because this process relates to the miners in transaction priority. but if it is still felt the transfer fee is still expensive, just simulate the cost with a custom fee option.
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