Bitcoin Forum
June 17, 2024, 06:19:51 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1] 2 »  All
  Print  
Author Topic: Is Bitcoin transaction fee fixed?  (Read 363 times)
Zilon (OP)
Sr. Member
****
Offline Offline

Activity: 966
Merit: 421

Bitcoindata.science


View Profile WWW
October 15, 2021, 01:55:23 PM
Last edit: October 15, 2021, 02:06:31 PM by Zilon
 #1

After  solving the arithmetic logarithm by the miners to choose who would  carry out the transactions on the network. The transaction fee charged is it fixed, decided by fellow miners or can the sender edit the transaction fee below the current price charged or above it?
I'm just curious
OcTradism
Hero Member
*****
Offline Offline

Activity: 1778
Merit: 810



View Profile WWW
October 15, 2021, 02:00:38 PM
Merited by DdmrDdmr (6)
 #2

Fix, what is a fix you implied?

You can check mempool space and choose transaction fee for your transactions.
https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,weight
https://mempool.space/vi/
When you check mempool, it is very clear and you can move your Bitcoin with 2 satoshi/ vbyte and get confirmation in 20 minutes.

Bitcoin breaks $60k but the mempool is still clean. I don't know mempool space will be loaded more tomorrow, let's see.

Make sure to avoid wasting BTC for too high fees – step by step guide (Electrum)

███████████████████████████
███████▄████████████▄██████
████████▄████████▄████████
███▀█████▀▄███▄▀█████▀███
█████▀█▀▄██▀▀▀██▄▀█▀█████
███████▄███████████▄███████
███████████████████████████
███████▀███████████▀███████
████▄██▄▀██▄▄▄██▀▄██▄████
████▄████▄▀███▀▄████▄████
██▄███▀▀█▀██████▀█▀███▄███
██▀█▀████████████████▀█▀███
███████████████████████████
.
.Duelbits.
..........UNLEASH..........
THE ULTIMATE
GAMING EXPERIENCE
DUELBITS
FANTASY
SPORTS
████▄▄█████▄▄
░▄████
███████████▄
▐███
███████████████▄
███
████████████████
███
████████████████▌
███
██████████████████
████████████████▀▀▀
███████████████▌
███████████████▌
████████████████
████████████████
████████████████
████▀▀███████▀▀
.
▬▬
VS
▬▬
████▄▄▄█████▄▄▄
░▄████████████████▄
▐██████████████████▄
████████████████████
████████████████████▌
█████████████████████
███████████████████
███████████████▌
███████████████▌
████████████████
████████████████
████████████████
████▀▀███████▀▀
/// PLAY FOR  FREE  ///
WIN FOR REAL
..PLAY NOW..
DannyHamilton
Legendary
*
Offline Offline

Activity: 3430
Merit: 4668



View Profile
October 15, 2021, 02:40:42 PM
Merited by DdmrDdmr (6), vapourminer (1), ABCbits (1), Upgrade00 (1)
 #3

After  solving the arithmetic logarithm by the miners to choose who would  carry out the transactions on the network. The transaction fee charged is it fixed, decided by fellow miners or can the sender edit the transaction fee below the current price charged or above it?
I'm just curious

The sender of the transaction (or their wallet software) chooses what transaction fee they will pay for the transaction.

The solo-miner or mining pool (or their mining software) decides if they want to include the transaction in their block or not.

By choosing a larger fee, the sender creates a larger incentive for the miner or pool to choose to include their transaction.  If the transaction has not yet been included in a block, it might be possible to resend the transaction with a higher (or lower) transaction fee, however there is no guarantee that the miner or pool won't still choose the earlier transaction without the changed fee.  Use of the RBF (Replace By Fee) feature in Bitcoin transactions can make it easier to increase the fee before the transaction is included in a block, and increase the likelihood that the miners and pools will see and include the new transaction with the larger fee.
OcTradism
Hero Member
*****
Offline Offline

Activity: 1778
Merit: 810



View Profile WWW
October 15, 2021, 03:21:05 PM
Merited by vapourminer (1)
 #4

Use of the RBF (Replace By Fee) feature in Bitcoin transactions can make it easier to increase the fee before the transaction is included in a block, and increase the likelihood that the miners and pools will see and include the new transaction with the larger fee.
[Guide] Broadcast Your RAW Transaction (Push TX) BTC & Alts coins
[TUTORIAL]getting a low-fee transaction unstuck by creating a CPFP with electrum
All about "stuck" transactions and what you can do to fix them
If people do opt-in a transaction as RBF, they will not be able bump fee later with RBF. They will have to use Child-Pay-For-Parent transaction.

███████████████████████████
███████▄████████████▄██████
████████▄████████▄████████
███▀█████▀▄███▄▀█████▀███
█████▀█▀▄██▀▀▀██▄▀█▀█████
███████▄███████████▄███████
███████████████████████████
███████▀███████████▀███████
████▄██▄▀██▄▄▄██▀▄██▄████
████▄████▄▀███▀▄████▄████
██▄███▀▀█▀██████▀█▀███▄███
██▀█▀████████████████▀█▀███
███████████████████████████
.
.Duelbits.
..........UNLEASH..........
THE ULTIMATE
GAMING EXPERIENCE
DUELBITS
FANTASY
SPORTS
████▄▄█████▄▄
░▄████
███████████▄
▐███
███████████████▄
███
████████████████
███
████████████████▌
███
██████████████████
████████████████▀▀▀
███████████████▌
███████████████▌
████████████████
████████████████
████████████████
████▀▀███████▀▀
.
▬▬
VS
▬▬
████▄▄▄█████▄▄▄
░▄████████████████▄
▐██████████████████▄
████████████████████
████████████████████▌
█████████████████████
███████████████████
███████████████▌
███████████████▌
████████████████
████████████████
████████████████
████▀▀███████▀▀
/// PLAY FOR  FREE  ///
WIN FOR REAL
..PLAY NOW..
BitMaxz
Legendary
*
Offline Offline

Activity: 3290
Merit: 3020


BTC price road to $80k


View Profile WWW
October 15, 2021, 05:17:59 PM
Merited by vapourminer (1)
 #5

You are registered here for almost 1 year but you don't know if the transaction fee is fixed or not?

What actually wallet are you always using?
Have you heard about Electrum, wasabi, or Bitcoin core?
Have you tried to use them?


If not, I'd like to suggest that you try Electrum or wasabi you can able to set the miners fee any amount you want. It's not the same as exchange wallets like Coinbase or Binance that have fixed transaction fees or any custodial wallet.

Here's what it looks like in Electrum when you are manually set the fee

Under "target fee" that is where you can edit how much sat/byte you want to pay and also take note of the size of the transaction.

█▀▀▀











█▄▄▄
▀▀▀▀▀▀▀▀▀▀▀
e
▄▄▄▄▄▄▄▄▄▄▄
█████████████
████████████▄███
██▐███████▄█████▀
█████████▄████▀
███▐████▄███▀
████▐██████▀
█████▀█████
███████████▄
████████████▄
██▄█████▀█████▄
▄█████████▀█████▀
███████████▀██▀
████▀█████████
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
c.h.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
▀▀▀█











▄▄▄█
▄██████▄▄▄
█████████████▄▄
███████████████
███████████████
███████████████
███████████████
███░░█████████
███▌▐█████████
█████████████
███████████▀
██████████▀
████████▀
▀██▀▀
DannyHamilton
Legendary
*
Offline Offline

Activity: 3430
Merit: 4668



View Profile
October 15, 2021, 05:46:53 PM
 #6

If people do opt-in a transaction as RBF, they will not be able bump fee later with RBF. They will have to use Child-Pay-For-Parent transaction.

ABSOLUTE NONSENSE.

This is exactly why I click the "ignore" link on ALL users with signature ads.  All they do is spout nonsense, wasting time and space on the forum.
skarais
Legendary
*
Offline Offline

Activity: 2520
Merit: 2150


View Profile WWW
October 15, 2021, 06:39:45 PM
 #7

After  solving the arithmetic logarithm by the miners to choose who would  carry out the transactions on the network. The transaction fee charged is it fixed, decided by fellow miners or can the sender edit the transaction fee below the current price charged or above it?
I'm just curious
Bitcoin transaction fee are always volatile which will be adjusted to the condition of the mempool. If the mempool is congested then you may be advised to use a higher transaction fee if you want to get confirmation faster. You can still use a lower transaction fee than the recommendation fee if you are patient enough to wait for your transaction to be put in the block, but when the network congested, it may take you a while to get that confirmation even it can be longer than 24 hours. Just wanted to share my experience, I usually use the transaction fee suggested by the two sites (Mempool.space & Blockchair.com). Make sure you also enable RBF to anticipate network congestion because this feature allows you to increase transaction fee before confirmation.
coupable
Hero Member
*****
Offline Offline

Activity: 2380
Merit: 757


View Profile
October 15, 2021, 06:42:00 PM
 #8

If people do opt-in a transaction as RBF, they will not be able bump fee later with RBF. They will have to use Child-Pay-For-Parent transaction.
Sorry man, i can't get your point clearly.
Once the transaction is added into a block, you can't be able to use any feature as you don't need eny of them anymore.
I you are the sender, you can always enable the RBF option so if the transaction dely to get confirmed because of the lack of mining fees, you will be able to broadcast another transaction using the same details of the first transaction [unconfirmed one].
If you are the receiver, make sure that you are using a client where you can enable the option of CPFP which allows you to spend unconfirmed outputs. Create another transaction with higher fee, the miner will have to confirm the parent transaction before going with the child transaction.
Electrum for both mobile and desktop is the best option for those who are not familiar with bitcoin transactions .
Zilon (OP)
Sr. Member
****
Offline Offline

Activity: 966
Merit: 421

Bitcoindata.science


View Profile WWW
October 15, 2021, 06:53:10 PM
 #9

You are registered here for almost 1 year but you don't know if the transaction fee is fixed or not?
This is too hash buddy, spending a year on the forum is not a prerequisite to know everything about Bitcoin. I have been studying about different things this caught my attention I needed clearity

Quote
What actually wallet are you always using?
Have you heard about Electrum, wasabi, or Bitcoin core?
Have you tried to use them?
I have been restricted to trust wallet for a long time  and haven't seen an option as such where you can set the miners fee and while studying I came across setting your transaction fee on the network so I came up with the thread

Quote
If not, I'd like to suggest that you try Electrum or wasabi you can able to set the miners fee any amount you want. It's not the same as exchange wallets like Coinbase or Binance that have fixed transaction fees or any custodial wallet.

Here's what it looks like in Electrum when you are manually set the fee

Under "target fee" that is where you can edit how much sat/byte you want to pay and also take note of the size of the transaction.
Thank you
BITCOIN4X
Legendary
*
Offline Offline

Activity: 2016
Merit: 1153



View Profile
October 15, 2021, 08:14:43 PM
 #10

In the last 3 month I think bitcoin transaction fees are quite low and very suitable for moving small amount of bitcoin to other wallet. 1 sat/byte is a fairly cheap transaction fee although on some previous transactions I had to wait more than 4 hours to get 1 confirmation. OP you can set your own fees with bitcoin and this is why bitcoin is called your own bank. Right now you should be using 10 sat/byte to get a confirmation in at least 10 minute, but you can still set it lower if you don't need the money urgently.

.
.DuelbitsSPORTS.
▄▄▄███████▄▄▄
▄▄█████████████████▄▄
▄██████████████████████▄
██████████████████████████
███████████████████████████
██████████████████████████████
██████████████████████████████
█████████████████████████████
███████████████████████████
█████████████████████████
▀████████████████████████
▀▀███████████████████
██████████████████████████████
██
██
██
██

██
██
██
██

██
██
██
████████▄▄▄▄██▄▄▄██
███▄█▀▄▄▀███▄█████
█████████████▀▀▀██
██▀ ▀██████████████████
███▄███████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
▀█████████████████████▀
▀▀███████████████▀▀
▀▀▀▀█▀▀▀▀
OFFICIAL EUROPEAN
BETTING PARTNER OF
ASTON VILLA FC
██
██
██
██

██
██
██
██

██
██
██
10%   CASHBACK   
          100%   MULTICHARGER   
Lanatsa
Hero Member
*****
Offline Offline

Activity: 2870
Merit: 657



View Profile
October 15, 2021, 09:18:13 PM
 #11

You are registered here for almost 1 year but you don't know if the transaction fee is fixed or not?

What actually wallet are you always using?
Have you heard about Electrum, wasabi, or Bitcoin core?
Have you tried to use them?

I did actually have the same questions too on where this is just a basic thing and its impossible for a member of this forum for 1 year isn't aware on how fee works?

He should really know on using those non-custodial wallets for him at least does have the idea on how to set out specific fees on specific market conditions.

Electrum would be a good wallet to make things a bit familiarizations on things at least for him to know on how fee works.

R


▀▀▀▀▀▀▀██████▄▄
████████████████
▀▀▀▀█████▀▀▀█████
████████▌███▐████
▄▄▄▄█████▄▄▄█████
████████████████
▄▄▄▄▄▄▄██████▀▀
LLBIT|
4,000+ GAMES
███████████████████
██████████▀▄▀▀▀████
████████▀▄▀██░░░███
██████▀▄███▄▀█▄▄▄██
███▀▀▀▀▀▀█▀▀▀▀▀▀███
██░░░░░░░░█░░░░░░██
██▄░░░░░░░█░░░░░▄██
███▄░░░░▄█▄▄▄▄▄████
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█████████
▀████████
░░▀██████
░░░░▀████
░░░░░░███
▄░░░░░███
▀█▄▄▄████
░░▀▀█████
▀▀▀▀▀▀▀▀▀
█████████
░░░▀▀████
██▄▄▀░███
█░░█▄░░██
░████▀▀██
█░░█▀░░██
██▀▀▄░███
░░░▄▄████
▀▀▀▀▀▀▀▀▀
|
██░░░░░░░░░░░░░░░░░░░░░░██
▀█▄░▄▄░░░░░░░░░░░░▄▄░▄█▀
▄▄███░░░░░░░░░░░░░░███▄▄
▀░▀▄▀▄░░░░░▄▄░░░░░▄▀▄▀░▀
▄▄▄▄▄▀▀▄▄▀▀▄▄▄▄▄
█░▄▄▄██████▄▄▄░█
█░▀▀████████▀▀░█
█░█▀▄▄▄▄▄▄▄▄██░█
█░█▀████████░█
█░█░██████░█
▀▄▀▄███▀▄▀
▄▀▄
▀▄▄▄▄▀▄▀▄
██▀░░░░░░░░▀██
||.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
░▀▄░▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄░▄▀
███▀▄▀█████████████████▀▄▀
█████▀▄░▄▄▄▄▄███░▄▄▄▄▄▄▀
███████▀▄▀██████░█▄▄▄▄▄▄▄▄
█████████▀▄▄░███▄▄▄▄▄▄░▄▀
███████████░███████▀▄▀
███████████░██▀▄▄▄▄▀
███████████░▀▄▀
████████████▄▀
███████████
▄▄███████▄▄
▄████▀▀▀▀▀▀▀████▄
▄███▀▄▄███████▄▄▀███▄
▄██▀▄█▀▀▀█████▀▀▀█▄▀██▄
▄██▄██████▀████░███▄██▄
███░████████▀██░████░███
███░████░█▄████▀░████░███
███░████░███▄████████░███
▀██▄▀███░█████▄█████▀▄██▀
▀██▄▀█▄▄▄██████▄██▀▄██▀
▀███▄▀▀███████▀▀▄███▀
▀████▄▄▄▄▄▄▄████▀
▀▀███████▀▀
OFFICIAL PARTNERSHIP
FAZE CLAN
SSC NAPOLI
|
Luzin
Hero Member
*****
Offline Offline

Activity: 1484
Merit: 793



View Profile
October 16, 2021, 11:58:11 AM
 #12

Maybe add a new fee amount?
As far as I know when making a widraw transaction the fees always change. Some friends have shown some references to estimate the amount of fees that will be used so that transactions are not delayed too long. Since all bitcoin transactions depend on network density, the denser it is, the more expensive it will be to speed up transactions.

My experience, I use electrum. With Electrum, we can activate the RBF feature which functions to increase transaction fees so that we get to the destination address quickly. If you are not in a hurry then you can use the standard fee. My experience is always monitoring the mempol before making a transaction, so you can determine the cost according to your needs and network density.

R


▀▀▀▀▀▀▀██████▄▄
████████████████
▀▀▀▀█████▀▀▀█████
████████▌███▐████
▄▄▄▄█████▄▄▄█████
████████████████
▄▄▄▄▄▄▄██████▀▀
LLBIT|
4,000+ GAMES
███████████████████
██████████▀▄▀▀▀████
████████▀▄▀██░░░███
██████▀▄███▄▀█▄▄▄██
███▀▀▀▀▀▀█▀▀▀▀▀▀███
██░░░░░░░░█░░░░░░██
██▄░░░░░░░█░░░░░▄██
███▄░░░░▄█▄▄▄▄▄████
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█████████
▀████████
░░▀██████
░░░░▀████
░░░░░░███
▄░░░░░███
▀█▄▄▄████
░░▀▀█████
▀▀▀▀▀▀▀▀▀
█████████
░░░▀▀████
██▄▄▀░███
█░░█▄░░██
░████▀▀██
█░░█▀░░██
██▀▀▄░███
░░░▄▄████
▀▀▀▀▀▀▀▀▀
|
██░░░░░░░░░░░░░░░░░░░░░░██
▀█▄░▄▄░░░░░░░░░░░░▄▄░▄█▀
▄▄███░░░░░░░░░░░░░░███▄▄
▀░▀▄▀▄░░░░░▄▄░░░░░▄▀▄▀░▀
▄▄▄▄▄▀▀▄▄▀▀▄▄▄▄▄
█░▄▄▄██████▄▄▄░█
█░▀▀████████▀▀░█
█░█▀▄▄▄▄▄▄▄▄██░█
█░█▀████████░█
█░█░██████░█
▀▄▀▄███▀▄▀
▄▀▄
▀▄▄▄▄▀▄▀▄
██▀░░░░░░░░▀██
||.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
░▀▄░▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄░▄▀
███▀▄▀█████████████████▀▄▀
█████▀▄░▄▄▄▄▄███░▄▄▄▄▄▄▀
███████▀▄▀██████░█▄▄▄▄▄▄▄▄
█████████▀▄▄░███▄▄▄▄▄▄░▄▀
███████████░███████▀▄▀
███████████░██▀▄▄▄▄▀
███████████░▀▄▀
████████████▄▀
███████████
▄▄███████▄▄
▄████▀▀▀▀▀▀▀████▄
▄███▀▄▄███████▄▄▀███▄
▄██▀▄█▀▀▀█████▀▀▀█▄▀██▄
▄██▄██████▀████░███▄██▄
███░████████▀██░████░███
███░████░█▄████▀░████░███
███░████░███▄████████░███
▀██▄▀███░█████▄█████▀▄██▀
▀██▄▀█▄▄▄██████▄██▀▄██▀
▀███▄▀▀███████▀▀▄███▀
▀████▄▄▄▄▄▄▄████▀
▀▀███████▀▀
OFFICIAL PARTNERSHIP
FAZE CLAN
SSC NAPOLI
|
TheGreatPython
Sr. Member
****
Offline Offline

Activity: 2548
Merit: 329



View Profile
October 17, 2021, 08:14:03 PM
 #13

After  solving the arithmetic logarithm by the miners to choose who would  carry out the transactions on the network. The transaction fee charged is it fixed, decided by fellow miners or can the sender edit the transaction fee below the current price charged or above it?
I'm just curious
No it is not fixed. If you say that the fee is a fixed fee, then it’s going to be a particular that you’re going to be paying anytime you’re doing a transaction. But it is not like that, rather you’re always paying different fees whenever you are doing a transaction with your wallet; if you’re paying $10 today for the transaction you’re doing, tomorrow or even the next minute, you’re not going to be paying that same $10, it will change $1 or any other thing. The price is determined by what people are ready to pay at that time and how busy or congested the network is at the time you’re doing the transaction.

       ███████████████▄▄
    ██████████████████████▄
  ██████████████████████████▄
 ███████   ▀████████▀   ████▄
██████████    █▀  ▀    ██████▄
███████████▄▄▀  ██  ▀▄▄████████
███████████          █████████
███████████▀▀▄  ██  ▄▀▀████████
██████████▀   ▀▄  ▄▀   ▀██████▀
 ███████  ▄██▄████▄█▄  █████▀
  ██████████████████████████▀
    ██████████████████████▀
       ███████████████▀▀
.
Duelbits
███████████████████████████████████████████████    ████    ████    ████
████    ████    ████

.
THE MOST REWARDING CASINO
.
████    ████
███████████████    ████    ████
   ▄▄▄▄████▀███▄▄▄▄▄
▄███▄▀▄██▄   ▄██▄▀▄███▄
████▄█▄███▄█▄███▄█▄████
███████████████████████   ▄██▄
██     ██     ██     ██   ▀██▀
██ ▀▀█ ██ ▀▀█ ██ ▀▀█ ██    ██
██  █  ██  █  ██  █  ██
█▌  ██
██     ██     ██     ████  ██
█████████████████████████  ██
████████████████████████████▀
█████████████████████████
█████████████████████████
████████████████████████▌
     +4,000     
PROVABLY FAIR
GAMES
  $500,000 
MONTHLY
PRIZE POOL
    $10,000   
BLACKJACK
GIVEAWAY
stadus
Legendary
*
Offline Offline

Activity: 3136
Merit: 1294


Hhampuz for Campaign management


View Profile
October 18, 2021, 08:14:33 AM
 #14

Not fixed at all as the fee depending on the network, if it's congested, you can increase your fee if you want the transaction to be confirmed in your estimated time.

However, seems things are different late (don't know the reason for sure) as I notice that the fees are pretty cheap compared to the last, the market is bullish, the same scenario in the past, but you can move bitcoin at a very cheap rate today, of course, you can refer to the https://mempool.space/ as your guide.

███████████████████████████
███████▄████████████▄██████
████████▄████████▄████████
███▀█████▀▄███▄▀█████▀███
█████▀█▀▄██▀▀▀██▄▀█▀█████
███████▄███████████▄███████
███████████████████████████
███████▀███████████▀███████
████▄██▄▀██▄▄▄██▀▄██▄████
████▄████▄▀███▀▄████▄████
██▄███▀▀█▀██████▀█▀███▄███
██▀█▀████████████████▀█▀███
███████████████████████████
.
.Duelbits.
▄▄█▄▄░░▄▄█▄▄░░▄▄█▄▄
███░░░░███░░░░███
░░░░░░░░░░░░░
░░░░░░░░░░░░
▀██████████
░░░░░███░░░░
░░░░░███▄█░░░
░░██▌░░███░▀░░██▌
█░██░░███░░░██
█▀▀▀█▌░███░░█▀▀▀█▌
▄█▄░░░██▄███▄█▄░░▄██▄
▄███▄
░░░░▀██▄▀
.
REGIONAL
SPONSOR
███▀██▀███▀█▀▀▀▀██▀▀▀██
██░▀░██░█░███░▀██░███▄█
█▄███▄██▄████▄████▄▄▄██
██▀ ▀███▀▀░▀██▀▀▀██████
███▄███░▄▀██████▀█▀█▀▀█
████▀▀██▄▀█████▄█▀███▄█
███▄▄▄████████▄█▄▀█████
███▀▀▀████████████▄▀███
███▄░▄█▀▀▀██████▀▀▀▄███
███████▄██▄▌████▀▀█████
▀██▄█████▄█▄▄▄██▄████▀
▀▀██████████▄▄███▀▀
▀▀▀▀█▀▀▀▀
.
EUROPEAN
BETTING
PARTNER
OgNasty
Donator
Legendary
*
Offline Offline

Activity: 4774
Merit: 4373


Leading Crypto Sports Betting & Casino Platform


View Profile WWW
October 18, 2021, 08:17:25 AM
 #15

Transaction fees are determined by the market. Miners can process whatever transactions they want, but it is obviously the most beneficial to include the highest fee per byte transactions as the space is limited in each block. This is a great incentive system that they say cures some problem with some generals or something. (Kidding, but look it up and appreciate greatness.)

..Stake.com..   ▄████████████████████████████████████▄
   ██ ▄▄▄▄▄▄▄▄▄▄            ▄▄▄▄▄▄▄▄▄▄ ██  ▄████▄
   ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██  ██████
   ██ ██████████ ██      ██ ██████████ ██   ▀██▀
   ██ ██      ██ ██████  ██ ██      ██ ██    ██
   ██ ██████  ██ █████  ███ ██████  ██ ████▄ ██
   ██ █████  ███ ████  ████ █████  ███ ████████
   ██ ████  ████ ██████████ ████  ████ ████▀
   ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██
   ██            ▀▀▀▀▀▀▀▀▀▀            ██ 
   ▀█████████▀ ▄████████████▄ ▀█████████▀
  ▄▄▄▄▄▄▄▄▄▄▄▄███  ██  ██  ███▄▄▄▄▄▄▄▄▄▄▄▄
 ██████████████████████████████████████████
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█  ▄▀▄             █▀▀█▀▄▄
█  █▀█             █  ▐  ▐▌
█       ▄██▄       █  ▌  █
█     ▄██████▄     █  ▌ ▐▌
█    ██████████    █ ▐  █
█   ▐██████████▌   █ ▐ ▐▌
█    ▀▀██████▀▀    █ ▌ █
█     ▄▄▄██▄▄▄     █ ▌▐▌
█                  █▐ █
█                  █▐▐▌
█                  █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█
▄▄█████████▄▄
▄██▀▀▀▀█████▀▀▀▀██▄
▄█▀       ▐█▌       ▀█▄
██         ▐█▌         ██
████▄     ▄█████▄     ▄████
████████▄███████████▄████████
███▀    █████████████    ▀███
██       ███████████       ██
▀█▄       █████████       ▄█▀
▀█▄    ▄██▀▀▀▀▀▀▀██▄  ▄▄▄█▀
▀███████         ███████▀
▀█████▄       ▄█████▀
▀▀▀███▄▄▄███▀▀▀
..PLAY NOW..
hannahberry
Newbie
*
Offline Offline

Activity: 2
Merit: 0


View Profile
October 18, 2021, 08:39:58 AM
 #16

Bitcoin transaction fees are continuously fluctuating, and they are modified according to the state of the mempool. If the mempool is overburdened, you might wish to utilize a larger transaction fee to receive confirmation sooner. If you are patient enough to wait for your transaction to be put in the block, you may still use a lower transaction cost than the recommended charge, but when the network is busy, it may take a long time to obtain that confirmation, even more than 24 hours. Just wanted to share my experience; I often utilize the transaction fee recommended by the two sites.
super mario bros
Blowon
Hero Member
*****
Offline Offline

Activity: 1938
Merit: 511


Vave.com - Crypto Casino


View Profile
October 18, 2021, 09:47:10 AM
 #17

That will continue to change even on exchanges though, the first time I entered the cryptocurrency it was only about 10k satoshi up to 100k satoshi. And now with a different range. There may be $10 in bitcoin like kraken.

slaman29
Legendary
*
Offline Offline

Activity: 2688
Merit: 1230


Livecasino, 20% cashback, no fuss payouts.


View Profile
October 18, 2021, 10:41:15 AM
 #18

I should also add that since the last few years (IIRC 2017) there actually is a fixed floor fee which is 1 satoshi per byte. So this amount depends on the size of your transaction, in which I believe there is no new client anymore that allows you to send less than 1 satoshi per byte.

I was never lucky enough to send 0 byte (as I never knew before it was an option when I first used)  Cheesy

██
██
██
██
██
██
██
██
██
██
██
██
██
... LIVECASINO.io    Play Live Games with up to 20% cashback!...██
██
██
██
██
██
██
██
██
██
██
██
██
Ararbermas
Sr. Member
****
Offline Offline

Activity: 1988
Merit: 283


View Profile
October 18, 2021, 12:50:26 PM
 #19

Fixed? No mate it depends what amount of transactions you have, but you can set it to higher if you want a fast transaction, if not you can set it to a lower fee but probably it takes hours or days. "For short bitcoin fees is depends on the speed of your transaction". And you know there's a chance as well that your transaction will be cancelled or stop if you exceed to the lowest value.. So remember to double check it always to don't waste your time waiting for your transaction to be confirmed by miners..
rosemariefrancis
Newbie
*
Offline Offline

Activity: 36
Merit: 0


View Profile
November 15, 2021, 05:57:19 AM
 #20

As the transaction fee of Bitcoin depends on transaction size and network volume, it will keep on fluctuating as per the change in network volume and size of the transaction.
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!