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Author Topic: How to set the transaction fee using bitcoind?  (Read 2877 times)
jondecker76
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May 10, 2011, 02:03:40 AM
 #1

I've searched everywhere, how do I set my transaction fee to 0.01?

bitcoind --rpcconnect=127.0.0.1 --help
does not list an option to set it

I have also tried:
bitcoind --rpcconnect=127.0.0.1 -paytxfee=0.01 sendtoaddress *************** 0.05

but I get the following error:
Code:
error: {"code":-4,"message":"Error: This transaction requires a transaction fee of at least 0.01 because of its amount, complexity, or use of recently received funds  "}


what am I doing wrong?  I'm trying to send the funds I received about 2 weeks ago from bitcoin faucet to my new install that I will be using from here on out.

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jondecker76
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May 10, 2011, 02:09:08 AM
 #2

ok, got it to send by paying a 0.01 txfee and sending 0.04 BTC (totaling the 0.05 BTC that was in my account)

So, can anyone confirm that this is the correct way to send BTC, by taking into account the transaction fee and manually adding it to the amount to be sent?

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db
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May 10, 2011, 05:35:38 AM
 #3

Add

Code:
paytxfee=0.01

to bitcoin.conf and restart bitcoind.
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