Transaction Fee question

[polynesia]

Transaction fees explained in detail....

http://www.bitcoinfees.com/

by far and away the best site ive been directed to that explains bitcoin transaction fee's.

thanks for sharing

You are welcome. This site cleared a lot of my misconceptions.
I initially thought transaction fees were optional for all transactions.

[gigalew]

Wow, great link thanks for that.

[deebob]

In simple terms, its better to send bigger amounts = less fee or free

[ranochigo]

In simple terms, its better to send bigger amounts = less fee or free

Not necessary, if there are a lot of inputs or outputs to the transaction, the fees must still be imposed since the transaction size is bigger. It can also depend on coin age.

[polynesia]

Does it make sense to aggregate smaller inputs and send them to another address controlled by you?
If transaction size is one of the parameters, doesn't breaking up one transaction into many smaller transactions help avoid transaction fees?

[Skrillex]

Essentially make transaction faster with higher fee (I think).
So if you want say take advantage of an ongoing pump or dump and want to move coins quick at an exchange, you can pay an higher fee to not miss the party 

[KimNam]

is it right if i want to send big amount like 1 BTC, i can't leave transaction fee to 0?
and the network will confirm it?

[DubFX]

is it right if i want to send big amount like 1 BTC, i can't leave transaction fee to 0?
and the network will confirm it?

It may take really long time, why are you so greedy?? You only need to spend like 10-20 cents on transaction fee if not less. 

[zetaray]

is it right if i want to send big amount like 1 BTC, i can't leave transaction fee to 0?
and the network will confirm it?

If your 1btc has more than 150 confirmations, you can send it for free. Same goes to 0.5btc with 300 confirmations.

[ranochigo]

is it right if i want to send big amount like 1 BTC, i can't leave transaction fee to 0?
and the network will confirm it?

If you leave it to get old enough, your outputs must not be dust and your inputs must also not be dusts. The transaction size also matter other than the age.

[Domino]

is it right if i want to send big amount like 1 BTC, i can't leave transaction fee to 0?
and the network will confirm it?

If your 1btc has more than 150 confirmations, you can send it for free. Same goes to 0.5btc with 300 confirmations.

AFAIK, that general rule of 1 bitcoin-day works for tx with a size of about 250 bytes only, but not larger tx (with more inputs and outputs).

[DannyElfman]

is it right if i want to send big amount like 1 BTC, i can't leave transaction fee to 0?
and the network will confirm it?

If your 1btc has more than 150 confirmations, you can send it for free. Same goes to 0.5btc with 300 confirmations.

I think you are referring to transaction prioritization. The longer it has been since specific inputs have been last moved the higher priority the transaction will have. The normal rules of BTC per TX size would still apply. Miners always have the option of confirming a TX that doesn't have a fee attached when it normally should.

[ezreal]

I think its retarded to pay any form of fee unless its a third party.

[ranochigo]

I think its retarded to pay any form of fee unless its a third party.

I don't think it's fair for any miner to get no fee. People work for a reason, you obviously have to pay a bit of service or goods tax. If not, they wouldn't earn a lot. For bitcoin, in 130+ years, there will be little mining rewards, if people don't pay fees, miners are literally mining for no profit.

[KimNam]

It may take really long time, why are you so greedy?? You only need to spend like 10-20 cents on transaction fee if not less. 

it's just an example for the question, i always add fee for miners
i saw some big amount of tx not include fee, like my current signature payment did

If your 1btc has more than 150 confirmations, you can send it for free. Same goes to 0.5btc with 300 confirmations.

where i can get this information? it's only take 25 hours to get 150 confirmation

If you leave it to get old enough, your outputs must not be dust and your inputs must also not be dusts. The transaction size also matter other than the age.

what's parameter to described old enough?
for one day? for 150 confirmations?

[ranochigo]

It may take really long time, why are you so greedy?? You only need to spend like 10-20 cents on transaction fee if not less. 

it's just an example for the question, i always add fee for miners
i saw some big amount of tx not include fee, like my current signature payment did

If your 1btc has more than 150 confirmations, you can send it for free. Same goes to 0.5btc with 300 confirmations.

where i can get this information? it's only take 25 hours to get 150 confirmation

If you leave it to get old enough, your outputs must not be dust and your inputs must also not be dusts. The transaction size also matter other than the age.

what's parameter to described old enough?
for one day? for 150 confirmations?

For about 144 confirmations is enough. Since your outputs aren't dust, it should be confirmed eventually, considering that it was kept for sometime. You can find it on the bitcoin wiki, transaction fees section.

Transactions need to have a priority above 57,600,000 to avoid the enforced limit (as of client version 0.3.21). This threshold is written in the code as COIN * 144 / 250, suggesting that the threshold represents a one day old, 1 btc coin (144 is the expected number of blocks per day) and a transaction size of 250 bytes.

So, for example, a transaction that has 2 inputs, one of 5 btc with 10 confirmations, and one of 2 btc with 3 confirmations, and has a size of 500bytes, will have a priority of