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Author Topic: How to set the transaction fee using bitcoind?  (Read 3175 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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May 10, 2011, 05:35:38 AM
 #3

Add

Code:
paytxfee=0.01

to bitcoin.conf and restart bitcoind.
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December 03, 2017, 06:05:47 AM
 #4

guys tell anyone already used this service? I want to try using it in one of my suspended transactions

Seriously, why did you have to bump this thread up? This was a super old thread that would not likely not be relevant anymore! What you actually need is a transaction acceleration and not really this thread. You should check the services section and there are plenty of people offering to accelerate your transaction. (Assuming what you meant about "suspended" is stuck transaction due to low fees). Or just do a search for "transaction acceleration" on the services section.

The reason why your transaction was stuck was because you placed low fees. Maybe you should post your TX here. A more complicated method to use is to double spend your transaction. This is more advanced and will require you to have a proper software. It will mean that you send the transaction again with higher fees. I would not recommend this as this can cause problems with a lot of things.

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