is bitcoin fee different for single and multi transactions ?

[aminhadi2020]

hello
i read somewhere Set the settlement to a higher amount to pay a lower fee when transferring BTC. This means that instead of setting 0.001 for Withdraw in the pool settings, it is better to set it at 0.01 so that you can pay a lower fee when you transfer this money to another wallet. Is this true? Does each transaction have its own dedicated space on the network or is the volume of each wallet stored in one block? Or each wallet is a collection of several blocks (which contain transaction amount) ??

if i set 0.001 , pool will Withdraw each week to me, if i set it to 0.01 it will Withdraw after a month
also im consider about fee, for example i have several wallet that i cant transfer my money from them because transfer fee is bigger than amount !!!!

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[jackg]

I think you're a bit confused.

I think the 0.001 and 0.01 are probably the threshold/limit that you can use to determine when the pool automatically processes a withdraw and that's it.

Secondly, fee is based on how long you want something to confirm (send successfully/completely). If you want a fast confirm, set a higher fee, if you don't care then it doesn't matter. Your pool probably batches transactions and sets their own fees for this anyway. Wallet software normally also provide information on how long you need to wait based on the fee you set.

Each block is an average of 10 minutes so you won't get a confirmation in less time than that, I'd recommend for a slower/lower priority transaction you still want to confirm to use a fee for anywhere form 10-25 blocks.

Your funds are stored in blocks on the blockchain (blocks contain many other people's transactions too), your ability to spend them is stored in your wallet file as private keys.

[nc50lc]

i read somewhere Set the settlement to a higher amount to pay a lower fee when transferring BTC. -snip-

Probably, the reason for that is to minimize the number of inputs when sending funds.
Because each of the pool withdrawal will be counted as one UTXO which will be used as an input for your transaction, the transaction's size will increase as the number of inputs increase.

If your usual transaction can only reach 0.001 BTC or slightly more, then weekly may be enough for you (may have to use coin control depending on the wallet).
If you're not planning to spend it and will send it for later, then going for monthly is better so you'll only generate one input per month.

[aminhadi2020]

so if there isnt any specific diff between Withdraw, all people will chose lower one to To have money in their wallet, its safer than keep mined amount in the pool balance. am i right???

[NeuroticFish]

so if there isnt any specific diff between Withdraw, all people will chose lower one to To have money in their wallet, its safer than keep mined amount in the pool balance. am i right???

It's always safer to have the money under your control if you can manage to keep your wallet and seed safe.

Your initial questions are rather unclear.
* Keep in mind that transaction fee may or may not be the same as the withdrawal fee from a service (usually the services charge a bit of extra, although this should not happen with mining pools).
* Keep in mind that one transaction with multiple inputs is still cheaper than multiple smaller transactions. Also if you have a big number of small inputs in your wallet it will be more expensive to spend them. On the other hand, if you don't trust (yet?) the service you're using, it's clearly advised to withdraw more often and maybe consolidate your funds.

[aminhadi2020]

so if i mine 0.01BTC each 3month, its good idea to set Withdraw to 0.001 instead of 0.01 ??
there isnt any specific problem like extra fee, ... when i want to transfer my money (after 6-12 month) to ? ha?
i dont know why im consider about maybe there is something different when set 0.001 and 0.01 / !!!!

[pooya87]

What you have to understand is that Bitcoin is not a balance based ledger, it is instead a coin based ledger.

In traditional finance for example you have a bank account and it doesn't matter if you deposit hundred $1 bills or a single $1 bill in your account, in the end you will have a balance equal to $100. When you are spending from your account, the ledger is simply updated with the new balance.

In bitcoin however, when you deposit hundred 0.001 "coins" (AKA UTXOs) in an address you end up with 100 outputs that you have to spend. When you want to spend your money you have to include all these "coins" in a transaction and you'll end up with 100 inputs which would take up a large space in the block ergo you have to pay a high fee.

This is why it is suggested to receive payments in larger amounts and less frequently so you end up with for example 10x $1000 coins instead of 100x $100 coins.

[LoyceV]

there isnt any specific problem like extra fee, ... when i want to transfer my money (after 6-12 month) to ?

I think my topic on consolidating small inputs will help you.

Short version: as long as 1 sat/vbyte is enough, I wouldn't mind withdrawing 0.001BTC to my wallet. If you use an address starting with bc1q, you can consolidate a few inputs at a time for less than 100 sat (0.000001BTC) fee per input. That's only about 0.1% of the total amount, which I consider acceptable. If you use an address starting with 1, fees almost double.
If transaction fees get really high again (say 100 sat/vbyte), I'd wait and withdraw larger amounts at a time.

[aminhadi2020]

there isnt any specific problem like extra fee, ... when i want to transfer my money (after 6-12 month) to ?

I think my topic on consolidating small inputs will help you.

Short version: as long as 1 sat/vbyte is enough, I wouldn't mind withdrawing 0.001BTC to my wallet. If you use an address starting with bc1q, you can consolidate a few inputs at a time for less than 100 sat (0.000001BTC) fee per input. That's only about 0.1% of the total amount, which I consider acceptable. If you use an address starting with 1, fees almost double.
If transaction fees get really high again (say 100 sat/vbyte), I'd wait and withdraw larger amounts at a time.

I had no information about bitcoin addressing. The information you provided about addressing was interesting.
addressing is base on wallet ? like some systems provide address start with 1 and some other ... .

[LoyceV]

I had no information about bitcoin addressing. The information you provided about addressing was interesting.
addressing is base on wallet ? like some systems provide address start with 1 and some other ... .

Short version: it depends on the wallet. Some services still can't handle addresses starting with bc1q. Any modern wallet can handle it though, so to reduce transaction fees it's best to use native Segwit Bech32 (bc1q-addresses) whenever possible.