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Author Topic: Clarification regarding calculating fees for a raw transaction  (Read 1082 times)
bitnanigans (OP)
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October 24, 2014, 04:21:59 AM
 #1

I've been reading up on how to create transactions, and I have stumbled upon some confusing details that I'd like to clarify. According to https://en.bitcoin.it/wiki/Transaction_fees, it says:

A transaction may be safely sent without fees if these conditions are met:
- It is smaller than 1,000 bytes.
- All outputs are 0.01 BTC or larger.
- Its priority is large enough (see the Technical Info section below)

Emphasis mine. It then goes on to state, "As an example, a fee of 0.1 mBTC (0.0001 BTC) would be added to a 746 byte transaction." This is where I get confused.

Does this mean that transactions below 1000 bytes cannot be sent without fees?

Thanks.
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October 24, 2014, 05:05:41 AM
 #2

Not if it doesn't meet the other conditions, no.

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bitnanigans (OP)
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October 24, 2014, 11:07:14 PM
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Oh, so that means, a transaction can be safely sent without fees if:
It is smaller than 1000 bytes AND all outputs are 0.01 BTC or larger AND the priority is large enough.

For some reason, I was thinking only one of the conditions had to be met, but I guess that's what happens when you haven't slept for 36 hours straight.
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October 25, 2014, 12:48:16 PM
 #4

Oh, so that means, a transaction can be safely sent without fees if:
It is smaller than 1000 bytes AND all outputs are 0.01 BTC or larger AND the priority is large enough.

For some reason, I was thinking only one of the conditions had to be met, but I guess that's what happens when you haven't slept for 36 hours straight.

You are absolutely right. Your transaction need to satisfy all three conditions at the same time.

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