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Author Topic: Segwit vs Legacy, fees?  (Read 307 times)
Charles-Tim
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March 19, 2021, 12:21:21 PM
Last edit: March 19, 2021, 12:56:49 PM by Charles-Tim
 #21

No, transaction fee can not consume half of the bitcoin sent
More than half of input value:
Hope you read what I posted above, also check the bolded quotes below, I think it is clear how I mentioned 'it depends'. If I want, I can pay $10 fee for $5 worth of bitcoin transaction, it is possible, although I wouldn't do that. Please never mind this, your quote is not necessary as I explained about the fee above. And I still remain to the point, bitcoin transaction fee depends on the weight of the transaction.

How did you prefer it, people are saying both are correlated in terms of charges, but these is really giving a problem because in any transaction now the charges almost consumed half of the money using for transportation, I want to know the causes of these.
No, transaction fee can not consume half of the bitcoin sent, it depends

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tranthidung
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March 19, 2021, 12:41:44 PM
 #22

You don't sign message with you address, you sign them with your private key. And as long as you can sign a transaction you can also sign a message.
There IS a standard for signing messages from any address type available, and it has been around for many years now and is recognized by major bitcoin implementations. If one software doesn't have the feature then it is that software's flaw and you should complain to their developers about why they haven't implemented such an old feature.
Thank you. It is excellent post that reminds me another topic, to verify message signed by a Segwit address.
I read it again and found that with same private key, it can be converted into different bitcoin address. More interesting finding, you are the one helped @lulucrypto to make that topic.  Smiley

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jacobjorden
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March 31, 2021, 04:13:05 AM
 #23

I am holding legacy.
Confused, should I go segwit for seemingly lower fees?
Pros and cons of each?
Can you go back and forth?




The initial BTC address is regarded as a legacy address, while SegWit is a newer address format with lower fees.
Segregated Witness (SegWit) stands for "separated witness," with "segregated" meaning "to differentiate" and "witness" referring to the transaction signatures involved in a particular transaction.
BIN-BIN
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March 31, 2021, 05:47:53 AM
 #24

At this period that bitcoin transactions fees is extremely high using segwit is the best option as you will pay low fees on transactions, if only you monitor to know the right time and day to do transaction on segwit you may pay less then 50% on fees mostly early hours on weekends.
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