Bitcoin Forum
December 08, 2016, 04:25:03 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Bitcoin GUI: can't reject 0.01BTC fee when sending small transactions  (Read 1471 times)
wolciph
Jr. Member
*
Offline Offline

Activity: 33


View Profile
May 08, 2011, 04:32:11 PM
 #1

I see no reason why the bitcoin GUI shouldn't allow to send low priority transanctions when sending small amounts. It could just add a warning: "if you do not pay a fee, your transaction may take a long time to be processed (a day?)". Also (but I think this has been suggested already), it should be possible to pay "milliBTC" fees. Paying a 0.01BTC fee when you are sending 0.05BTC is just not acceptable.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481171103
Hero Member
*
Offline Offline

Posts: 1481171103

View Profile Personal Message (Offline)

Ignore
1481171103
Reply with quote  #2

1481171103
Report to moderator
Garrett Burgwardt
Sr. Member
****
Offline Offline

Activity: 350



View Profile
May 08, 2011, 04:53:51 PM
 #2

I agree, but if you wait a day or two for the coins to age, you should be able to send without a fee. This is to prevent noobs from sending low priority txs that might not be confirmed for days.

Ideally, there'd be an explanation of how it works with an Ok, I will pay the fee, No, don't pay the fee but send the tx, and cancel options.
Matt Corallo
Hero Member
*****
expert
Offline Offline

Activity: 751


View Profile
May 08, 2011, 05:26:59 PM
 #3

I see no reason why the bitcoin GUI shouldn't allow to send low priority transanctions when sending small amounts. It could just add a warning: "if you do not pay a fee, your transaction may take a long time to be processed (a day?)". Also (but I think this has been suggested already), it should be possible to pay "milliBTC" fees. Paying a 0.01BTC fee when you are sending 0.05BTC is just not acceptable.
I may be completely wrong on this but, the problem is, for many of the transactions which Bitcoin popups up to tell you need a fee will never be confirmed.  Unless a miner is running a specially modified version of bitcoin (I don't think there are any major miners which have modified their bitcoin for this purpose), the transaction will permanently be rejected by all miners.  It's not that its delayed, it just doesn't happen. This is true to an extent, but it is mostly not true for the majority of txes which require a fee.
Some, you are right and I would agree with something added like this.
That said, I'd like to see something like this for other low-priority transactions.  For example transactions which are very low priority, but which will eventually be confirmed, the client should ask you if you want to add a fee large enough to get out of the "very low priority transaction" level which puts your tx in a much smaller restriction of size/block in the standard client. 
Despite the potential for spam, I would like to see more space available per block for "very low priority transactions" as its not like the rest of the space is anywhere near used right now anyway.

Bitcoin Ubuntu PPA maintainer - donate to me personally: 1JBMattRztKDF2KRS3vhjJXA7h47NEsn2c
http://bitcoinrelaynetwork.org maintainer
PGP ID: 07DF 3E57 A548 CCFB 7530  7091 89BB B866 3E2E65CE
Luke-Jr
Legendary
*
expert
Offline Offline

Activity: 2086



View Profile
May 09, 2011, 01:39:15 AM
 #4

Clients should ideally open a prompt with information on expected "today" (default) fee, minimum fee, and "ASAP" fee, and let the user decide what fee specifically to pay. There should also be a checkbox to override the minimum and allow a lower fee. For example, you can send amounts under 0.01 BTC for only 0.00004096 BTC fee today (approx confirm every 3-4 hours), but the existing clients make it impossible...

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!