I recently started up and synced this coin client when reviewing some old coins I have installed. Last run in 2015.
I sent a test deposit of 10 IFC... the fee is 200 IFC!
Sending 101 IFC - fee still 200 IFC
Then if I try to send 10001 IFC, the transaction fails and the client complains that I need a fee of at least 8300 IFC to send my 10001. WTF? An 83% transaction fee?
The last mined blocks in my wallet are at least 2 years old - so I don't know why it's demanding such a high tx fee - but I can't view the unspent outputs, because 'listunspent' returns a blank list.
What a strange coin....
The fee is not 83%, rather it's based on how complex the transaction. If you had a lot of 'dust' inputs (small amounts), it's a lot of work/complexity to collect them all into your target amount, so the fee gets multiplied. I think even 2 years ago the block reward was small enough, that it would take dozens or hundreds of inputs to make 10001.
Note that transaction amounts like 101 or even 10001 are relatively microscopic in IFC. It's like sending BTC 0.000001 amounts or smaller, which has similar problems.
You're right. I was really only looking at its value rather than the makeup of the transaction. I can't see unspent outputs for some reason (? 'listunspent' returns an empty list) but going further back in the transaction list it seems most of my mined blocks - with nearly 2 million confirms - are 16 IFC, which is a big difference when compared with the initial 524288 IFC rewards. Even a relatively small amount like 10001 (I chose this figure because of the OP mentioning a higher tx fee for <10k) would require consolidating 625+ unspent outputs.
For those who mined to the end, consolidating the later tiny block rewards of 0.0625 IFC (or even lower) would be pointless fun.
You should also be able to override the default base fee in the UI,
or by setting in the .conf file
paytxfee=
or at cmdline via
infinitecoind settxfee
I did try setting a lower fee via RPC, but it still complains and wants a higher fee.
Guess there's not much I can do, apart from hacking the client source so that I can mine a block to incorporate my own bloated, low fee transaction.
really.... dream on 