ViaBTC accelerator minimum fee

[jerry0]

I haven't sent btc in a while.  I use a nano ledger s.  Years ago i had btc in electrum and sent btc when fees were very high and i sent with very low fee but used viabtc to accelerate it for free.  Recall you had to do it at the top of the hour.  Is it still the same right now?


So what is the minimum fee i could put now in ledger live with the nano ledger when sending?  And then using viabtc afterwards?  I hear ppl talk about l0 sats but how much btc is that in decimals?

[TryNinja]

I hear ppl talk about l0 sats but how much btc is that in decimals?

Each transaction weights differently, which means that the fee in sats varies. Just use 10 sat/byte (or 16 sat/vByte) when sending the transaction.

[o_e_l_e_o]

I hear ppl talk about l0 sats but how much btc is that in decimals?

10 sats is 0.0000001 BTC. No one can tell you what the total fee necessary is without knowing the details of the transaction you are trying to make.

At the moment, a fee of around 20 sats/vbyte is necessary to try to get in to the next block, but a fee of 6 sats/vbyte will probably confirm within the next few hours. However, if you want to use ViaBTC, you need to pay more than 10 sats/byte (not vbyte, in this case). Again, no one can tell you exactly what that fee will work out to in vbytes or in total without knowing the details of your transaction.

The best thing to do is simply to enable RBF, and then you can bump the fee later if you don't get confirmed in the time frame you want.

[jerry0]

I hear ppl talk about l0 sats but how much btc is that in decimals?

10 sats is 0.0000001 BTC. No one can tell you what the total fee necessary is without knowing the details of the transaction you are trying to make.

At the moment, a fee of around 20 sats/vbyte is necessary to try to get in to the next block, but a fee of 6 sats/vbyte will probably confirm within the next few hours. However, if you want to use ViaBTC, you need to pay more than 10 sats/byte (not vbyte, in this case). Again, no one can tell you exactly what that fee will work out to in vbytes or in total without knowing the details of your transaction.

The best thing to do is simply to enable RBF, and then you can bump the fee later if you don't get confirmed in the time frame you want.

How much btc is 10 sats/byte?


I didn't know about sats/vbyte or sats/byte etc.


So for example, say i want to send l00 dollars or l000 dollars worth of btc from nano ledger to say coinbase, what would you recommend me to put as the sending fee in nano ledger?  Assuming i dont need it to get to coinbase as soon as possible etc.  Is RBF automatically enabled on nano ledger/ledger live if i never played with the settings?

[LoyceV]

How much btc is 10 sats/byte?

"How many km is 10 km/h?"
You can't convert this, it's a different unit.

I didn't know about sats/vbyte or sats/byte etc.

Bitcoin transactions have a size (in bytes) and a fee (in sats). Combining those two gets you the fee rate in sat/byte. Miners choose transactions with the highest fee rate first, because they earn most that way.

So for example, say i want to send l00 dollars or l000 dollars worth of btc from nano ledger to say coinbase

First, forget about dollars. You're sending Bitcoin, so let's say you're sending 0.002 or 0.02 BTC.

what would you recommend me to put as the sending fee in nano ledger?  Assuming i dont need it to get to coinbase as soon as possible etc.

I would check Johoe's Bitcoin Mempool Size Statistics, and set 6 sat/byte at the moment. Usually fees go up after Monday though, so it may or may not take up to Sunday for it to confirm.
For the total fee, it matters how many inputs you use. If you have received many small payments in the past, you're going to pay a lot on fees sending those funds.
Visual impression of small inputs:

You have this, which is slow and annoying to use:

(image source)

You want this for quick easy payments:

(image source)

Is RBF automatically enabled on nano ledger/ledger live if i never played with the settings?

Yes. But Ledger Live can't increase the fee. Electrum is more flexible, while you still sign on the Ledger to keep your funds secure).

[jerry0]

Okay so how much is the minimum btc one has to send then when doing a transaction of sending with nano ledger s?


Well i wanted to know what is the minimum amount i can put as sending if say i don't need to send it quickly etc.  Like right now... twenty dollars would get transaction done very quickly.  But im surprised less than that it would work as well.  But as of now, what is the usd amount that is minimum one could do to send if they dont mind it taking one whole day for it to get through.


I also.. i dont want to use electrum anymore because i havent updated in a while.  I know people say its safe to use it with ledger live... but i havent learned how to do that yet.  So electrum is in essence a watching wallet right?  So electrum offers you option to adjust sending fees to how much you want but nano ledger s with ledger live limits you?  If so, how limit you?  Like you need to put minimum fee as so and so... but electrum can go even lower?

[o_e_l_e_o]

Okay so how much is the minimum btc one has to send then when doing a transaction of sending with nano ledger s?

The minimum you can send in a legacy transaction is 546 sats. The minimum you can send in a segwit transaction is 294 sats. The minimum fee you can set in any transaction is 1 sat/vbyte.

Well i wanted to know what is the minimum amount i can put as sending if say i don't need to send it quickly etc.

1 sat/vbyte, although at present such a transaction will probably not propagate, and even if it does, is unlikely to confirm for weeks or even months.

Like right now... twenty dollars would get transaction done very quickly.

Discussing fees in flat dollar amounts is meaningless. First, the fee is calculated in bitcoin, not in dollars. Second, the fee depends completely on the characteristics of your transaction. A fee of 20,000 sats might work out to 100 sats/vbyte and be a huge overpayment. The same fee of 20,000 sats might work out to less than 1 sat/vbyte and therefore have your transaction be rejected for paying too low a fee. It is impossible for anyone to tell you a total fee amount without knowing the characteristics of the transaction you are trying to make - mainly how many inputs and their type, and how many outputs and their type.

[notblox1]

I haven't sent btc in a while.

i dont want to use electrum anymore because i havent updated in a while.  

So all you are doing here in bitcointalk forum is talking in theoretical terms and not actually using and updating any wallets or sending bitcoins for years?
I don't understand what is the point of asking so many questions.

[NeuroticFish]

Although your questions are off-topic and I advise you make your own topic to clear up the things you clearly don't understand (I have a feeling you shoot in the dark and never used Electrum, for example), I'll try to answer.

I also.. i dont want to use electrum anymore because i havent updated in a while.  I know people say its safe to use it with ledger live... but i havent learned how to do that yet.

For me Electrum is safer because I understand it. Ledger Live has bugs the imho makes it less safe than Electrum; but this is a personal opinion.

I also.. i dont want to use electrum anymore because i havent updated in a while.  I know people say its safe to use it with ledger live... but i havent learned how to do that yet.  So electrum is in essence a watching wallet right?

Electrum is watching wallet only if it doesn't contain your seed/private keys. Watch wallet is a wallet unable to spend from. So it depends on your setup, not your usage frequency.
If you use it with your Ledger, I'd say it's still a full wallet.

So electrum offers you option to adjust sending fees to how much you want but nano ledger s with ledger live limits you?  If so, how limit you?  Like you need to put minimum fee as so and so... but electrum can go even lower?

Afaik ledger live doesn't have coin control. Also ledger live does set a RBF flag, but you cannot increase fee with Ledger Live. These are some of the limitations of Leger Live.
Sometimes Ledger live node goes out of sync, not showing the latest transactions and scaring the sh*t out of its users. This is a bug, not a limitation, but it worth mentioning.
I don't know how LL works with the fees because I've never sent a penny with that software, I've used mostly Electrum and sometimes, from mobile, Mycelium.