Skyhound (OP)
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October 05, 2020, 11:09:52 PM |
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Hi there guys Im new to using electrum , im trying to make a transfer but this happens ? What is wrong with this taxes of 2000% + , how can the tax be more then the payment Am i doing something wrong ?? Image link down here https://ibb.co/gzNCBZ2
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Lordhermes
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October 05, 2020, 11:27:00 PM |
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Hi there guys Im new to using electrum , im trying to make a transfer but this happens ? What is wrong with this taxes of 2000% + , how can the tax be more then the payment Am i doing something wrong ?? Image link down here https://ibb.co/gzNCBZ2I just opened the image you posted mate, I noticed its written in French language not English. Sorry, I'm not a French speaking user, I would have advise you report it on French locale board for easy clarification.
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Bitcoin_Arena
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฿itcoin for all, All for ฿itcoin.
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October 05, 2020, 11:29:22 PM |
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It's not a bug. I don't understand the language well but it seems you are attempting to pay way too much transaction fees (which in the language is called tax) hence the warning. According to the picture you are going to pay 0.22646 mBTC in fees in order to transfer 0.008879 mBTC, so, you are basically paying a fee which is 2576% of the amount you are transferring.
I think your transaction might be having a lot of inputs. Do you mind sharing your bitcoin address (the one that has funds in it) and I check it out with a bitcoin explorer?
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Skyhound (OP)
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October 05, 2020, 11:29:32 PM |
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hi there , thanks for reply
ITs portuguese
The 1 value indicates the amount i want to send , and the 2 value indicates the tax !!
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Skyhound (OP)
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October 05, 2020, 11:39:09 PM |
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It's not a bug. I don't understand the language well but it seems you are attempting to pay way too much transaction fees (which in the language is called tax) hence the warning. According to the picture you are going to pay 0.22646 mBTC in fees in order to transfer 0.008879 mBTC, so, you are basically paying a fee which is 2576% of the amount you are transferring.
I think your transaction might be having a lot of inputs. Do you mind sharing your bitcoin address (the one that has funds in it) and I check it out with a bitcoin explorer?
I thinks its this one Thank you for your help bc1qlda3zt740a0txcfyh37v4a8u756cgyk0v2jxs2 i dont understand how tax can be 2000% of value , or am i misunderstanding something
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Bitcoin_Arena
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October 05, 2020, 11:50:43 PM |
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bc1qlda3zt740a0txcfyh37v4a8u756cgyk0v2jxs2
The address you provided has never had any BTC in it: https://blockchair.com/bitcoin/address/bc1qlda3zt740a0txcfyh37v4a8u756cgyk0v2jxs2By the way the 0.008879 mBTC you were trying to send is equivalent to $0.095 at the current bitcoin price. According to https://mempool.space the current fee of bitcoin transaction even for low priority is around $2. So the transaction fee of 0.22646 mBTC is about $2.4 which is a normal bitcoin transaction fee at the moment. Therefore it doesn't make sense trying to transfer $0.095 worth of BTC for a fee of $2.4
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Skyhound (OP)
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October 05, 2020, 11:57:13 PM |
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U did something wrong the value of the transfer is 94.56 us dollars = 0.008879 But canu confirm me the tax is 2 euro ?
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Bitcoin_Arena
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October 06, 2020, 12:08:54 AM |
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U did something wrong the value of the transfer is 94.56 us dollars = 0.008879
I didn't do anything wrong. Check your picture again, the values are in mBTC not BTC I think that's where the problem comes from, You are basically trying to send 0.008879 mBTC thinking it's 0.008879 BTC Try changing your wallet's setting from mBTC to BTC Go to Tools >> Preferences >> General >> Base Unit >> Change mBTC to BTC >> Close and try sending your transaction again
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Skyhound (OP)
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U did something wrong the value of the transfer is 94.56 us dollars = 0.008879
I didn't do anything wrong. Check your picture again, the values are in mBTC not BTC https://i.imgur.com/TjKdh24.pngI think that's where the problem comes from, You are basically trying to send 0.008879 mBTC thinking it's 0.008879 BTC Try changing your wallet's setting from mBTC to BTC Go to Tools >> Preferences >> General >> Base Unit >> Change mBTC to BTC >> Close and try sending your transaction again https://i.imgur.com/TVjUUzp.pngMan ure an angel , thank you very much , that was indeed the problem
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Pffrt
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October 06, 2020, 12:15:30 AM |
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I think that's where the problem comes from, You are basically trying to send 0.008879 mBTC thinking it's 0.008879 BTC Try changing your wallet's setting from mBTC to BTC
Exactly that's what OP is missing and most newbies or first time electrum wallet user make this mistake most of the times. OP, why not you customize fee? You can have even lower fee if you can customize it.
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AB de Royse777
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October 06, 2020, 01:10:16 AM |
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0.008879 mBTC = 0.00000888 BTC 0.22646 mBTC = 0.00022646 BTC The sending amount 0.00000888 BTC was too small to broadcast, this could even consider dust amount and having 0.00022646 BTC as transaction fees for a tx was just a regular amount. There were no problem at all except the OP had wrong understanding. I am glad that Bitcoin_Arena was able to close it. By the way, anyone did not mention so thought to add this that the topic should be in the Electrum section.
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nc50lc
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October 06, 2020, 05:07:00 AM |
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@Skyhound Aside from the issue, I noticed that you're using "ETA" as fee estimation. I'd suggest to change your fee-rate estimation to "mempool" because "Estimated Time of Arrival" usually suggests a fee overpay. You can click the "ETA" and it will open a drop-down menu, then select "mempool".
When choosing fee, slide it through 1mb from tip for the priority transactions and 2-5mb if not, 0.5mb if it's a super rush transaction.
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