gigalew (OP)
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June 16, 2014, 04:18:04 AM |
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Ok can someone explain how the transaction fees work?
I see things for sale that cost less than the fee it charges me.
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BillyBobJoe
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June 16, 2014, 04:22:02 AM |
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Ok can someone explain how the transaction fees work?
I see things for sale that cost less than the fee it charges me.
The last fee I noticed was about $0.06USD, maybe a bit more, yes 6 cents. What are you seeing? |
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gigalew (OP)
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June 16, 2014, 04:30:10 AM |
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Ug sorry. I figured it out, you have to have money on deposit in order to purchase things for 1 satoshi.
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nwfella
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Well hello there!
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June 16, 2014, 04:42:38 AM |
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Ug sorry. I figured it out, you have to have money on deposit in order to purchase things for 1 satoshi.
What in the heck could you possibly have been considering purchasing for a single satoshi may I ask? 1 satoshi at today's rate isn't even 1/10,000th of a single US penny! Anyhoo, wouldn't make much sense paying transaction fee's in this case. |
¯¯̿̿¯̿̿'̿̿̿̿̿̿̿'̿̿'̿̿̿̿̿'̿̿̿)͇̿̿)̿̿̿̿ '̿̿̿̿̿̿\̵͇̿̿\=(•̪̀●́)=o/̵͇̿̿/'̿̿ ̿ ̿̿
Gimme the crypto!!
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Lieji
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June 16, 2014, 07:52:01 AM |
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Ok can someone explain how the transaction fees work?
I see things for sale that cost less than the fee it charges me.
Bitcoin tx fee depends on the tx size in KB, not the amount of btc transacted. The standard fee is 0.001 btc per KB. |
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Angela8488
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June 16, 2014, 02:25:55 PM |
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Just buy some coins and wait two years then come back and see
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ranochigo
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Crypto Swap Exchange
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June 16, 2014, 05:12:10 PM |
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It depends on the age of the coin. (Number of days it have not been moved)
Amount. (Transactions below 0.01 is considered as low priority)
Size of transactions ( it also depends on how big your transaction size is for example, it have many inputs or outputs, then you will have to pay a higher transaction fees as the size is bigger)
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Domino
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June 16, 2014, 05:20:47 PM |
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Just buy some coins and wait two years then come back and see
How is that related to OP's question "can someone explain how the transaction fees work?" |
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DannyElfman
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June 16, 2014, 05:47:37 PM |
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Standard fee for a simple transaction will usually be .0001 BTC. More inputs = more data = higher fee.
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This spot for rent.
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DubFX
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June 16, 2014, 05:50:15 PM |
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Also please don't spam the blockchain with useless transactions that have no real intentions it only makes it harder to download, it's big enought already.
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scribbles
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June 16, 2014, 05:52:50 PM |
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Not trying to hijack this thread, but my question is directly related and I didn't want to start a separate thread.
I recently sent 2 BTC from one of my addresses to another of my addresses. The transaction fee was .00009 but I still have 2 BTC in my new wallet (not 1.99991 BTC) and blockchain.info shows 2 BTC received as well.
Is there some rounding in how the blockchain displays the amounts and my new address actually has slightly less than 2 BTC in it? If not, where did the fee come from?
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DannyElfman
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June 16, 2014, 05:55:22 PM |
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Also please don't spam the blockchain with useless transactions that have no real intentions it only makes it harder to download, it's big enought already.
I think at some point in the near future, devs are going to really have to deal with the issue of blockchain bloat. It won't be solved by users trying to cut back on data. |
This spot for rent.
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Domino
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June 16, 2014, 06:20:36 PM |
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Not trying to hijack this thread, but my question is directly related and I didn't want to start a separate thread.
I recently sent 2 BTC from one of my addresses to another of my addresses. The transaction fee was .00009 but I still have 2 BTC in my new wallet (not 1.99991 BTC) and blockchain.info shows 2 BTC received as well.
Is there some rounding in how the blockchain displays the amounts and my new address actually has slightly less than 2 BTC in it? If not, where did the fee come from?
When you send 2 btc out and pay .00009 tx fee, the receiver should receive 2 btc while the sender should have spent 2.00009 btc.  |
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Essex343
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June 16, 2014, 07:15:04 PM |
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How do you know when your coins are old enough to send without a fee?
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ThomasCrowne
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★☆★ 777Coin - The Exciting Bitco
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June 16, 2014, 07:49:38 PM |
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by far and away the best site ive been directed to that explains bitcoin transaction fee's. thanks for sharing |
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ajareselde
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Merit: 1000
Satoshi is rolling in his grave. #bitcoin
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June 16, 2014, 08:04:09 PM |
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How do you know when your coins are old enough to send without a fee?
i want to know this too. is it even possible to send without fee? and wouldnt that make the transaction take way too long to confirm. cheers |
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2double0
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Merit: 1105
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June 17, 2014, 08:12:52 AM |
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Ug sorry. I figured it out, you have to have money on deposit in order to purchase things for 1 satoshi.
What in the heck could you possibly have been considering purchasing for a single satoshi may I ask? 1 satoshi at today's rate isn't even 1/10,000th of a single US penny! Anyhoo, wouldn't make much sense paying transaction fee's in this case. Soon that will be worth 10,000x a dollar woooooop |
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AuroraHF
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June 17, 2014, 01:08:11 PM |
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The fees are used to pay miners so that they can confirm your transactions! Make sure to pay a fee or else your transactions will have low priority, hence slower confirmation time.
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lmao
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