Fee is Not Optimal

[Zetler]

Why is the default fee set to 0.0002 BTC per kilobyte?
Isn't the standard fee in the bitcoin network 0.0001?

Personally I wouldn't mind skipping the fee sometimes either at the expense of waiting for 24+ hours. That's anyway what I'm used to from bank transfers

My wish for future releases for Electrum is the ability to choose high, medium, or low priority, and also for the high priority that the fee is optimized (0.0002 is no faster than 0.0001, right?)

Having said that, I am very impressed by Electrum

[1715323868]

1715323868

[bobdutica]

You can set the default fee you want to use in the "Preferences", the icon with a screwdriver and wrench in the lower write hand corner of the electrum GUI.
Just change it from .0002 to .0001, or whatever else you want, select OK and then restart electrum. From then on, the fee will default to whatever value you set.

[Zetler]

Does not work for me.
I get prompted by an error, "This transaction requires a higher fee, or it will not be propagated by the network".

I'm using version 1.9.7 for Windows.

[TheButterZone]

You may have visited too many faucets.

[er.arpit]

I am also getting the error mentioned above.. I am kinda new to mining. One of my friends who uses bitcoin-qt says it's not mandatory to pay any fee but for me, it's not allowing unless i pay the fee.

[dabura667]

To use the fee properly, you must

1. Have the fee set to 0.0001 BTC ( 0.1mBTC) in your preferences.

2. You must also type in 0.0001 BTC ( X number of kb for tx rounded up) for the "Fee" box on the send window. Keep trying til it lets you send, then that should be enough. a 1999 byte tx should be 0.0002 but a 2001 byte tx should be 0.0003, etc. People who receive a lot of transactions to their address will have a larger tx size because it will have to include a signatures for every single bitcoin your received in previous transactions. Miners and donation addresses are affected most.

If you have done both of these and send the transaction, you will be able to send for the 0.0001 Min Txfee. (0.9.0 adoption is still rather low at less than 30% or so, so dropping the min tx fee now to the new standard is not logical, it will cause delayed transaction times.


If you MUST send tx with 0 fees for some reason. Go in to the code and change the min tx fee constant from 0.0001 BTC to 0, or you could comment out the exception causing the error message.

Hey, it's a good opportunity to learn Python, people! :-)

DISCLAIMER: If you tinker with the program and lose all your coins, don't blame anyone but yourself. If you don't know what you're doing, hire someone who does, or post an issue on github.