Topic: Bitcoin Fees (Read 2516 times)
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Dude you are lucky lol,I am using Xapo and paying 0.0018 btc in fees thats 4.5 usd... I started using bitcoins instead of paypal because of fees but now bitcoins fees are higher than Paypal that's insane amount of fees comparated to other payments ways..
I think Xapo are gone too far with thier fees, i personally had to pay 5$ fee for a 10 dollar transaction and that is only standard fee, and the transaction was not as fast as i thought it will be , so there is no point from paying fees on Xapo, i personally think that Xapo has made a huge mistake, and many people have started switching to other wallets, in fact i siwtched to blackchain they have better fees.These 5$ fee for 10$ is an insane fee
, I think they have fix fee amount for any transaction or these is maybe the error of there system, just try to contact there support. So I manually configured the fees in Electrum to: 2.645 sat/B. Transmitted about 24 hours ago, still no confirmations. If it takes a month I don't care. Not desperate for the coins. Also, pointing my cloud mining to an exchange...working. Let the exchange consolidate for me!
Just got my first confirmation....28 hours...
Dude you are lucky lol,I am using Xapo and paying 0.0018 btc in fees thats 4.5 usd... I started using bitcoins instead of paypal because of fees but now bitcoins fees are higher than Paypal that's insane amount of fees comparated to other payments ways..
I think Xapo are gone too far with thier fees, i personally had to pay 5$ fee for a 10 dollar transaction and that is only standard fee, and the transaction was not as fast as i thought it will be , so there is no point from paying fees on Xapo, i personally think that Xapo has made a huge mistake, and many people have started switching to other wallets, in fact i siwtched to blackchain they have better fees.
So I manually configured the fees in Electrum to: 2.645 sat/B. Transmitted about 24 hours ago, still no confirmations. If it takes a month I don't care. Not desperate for the coins. Also, pointing my cloud mining to an exchange...working. Let the exchange consolidate for me!
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Dude you are lucky lol,I am using Xapo and paying 0.0018 btc in fees thats 4.5 usd... I started using bitcoins instead of paypal because of fees but now bitcoins fees are higher than Paypal that's insane amount of fees comparated to other payments ways..
That is indeed high! IMO, you should use a different wallet.
https://jochen-hoenicke.de/queue/#24h
Dude you are lucky lol,I am using Xapo and paying 0.0018 btc in fees thats 4.5 usd... I started using bitcoins instead of paypal because of fees but now bitcoins fees are higher than Paypal that's insane amount of fees comparated to other payments ways..
I just went into electrum and I found how you can set fees manually. I can get them pretty low! Thanks 
The default setting is dynamic fees.
The default setting is dynamic fees. To avoid micro wallet deposits creating large numbers of inputs am I better sending them to an exchange and let them "consolidate" there and then move them when I need them? IF I send to my Electrum wallet after a month I have 30 inputs, which is going to cost a fortune to move. I just tried to move 12 days worth and the lowest fees setting was still going to amount to about $15. Middle of the road setting was $25. To move $84 worth of BTC is going to cost $25? Not doing that. So is the exchange consolidation plan viable?
Be patient and go with the minimum fee (~1 sat/byte). Your minimum consolidation fee should be about $.15. That's an extremely low .2% fee.
I use electrum, i slid the slider all the way to the left to the lowest setting. The fees to transmit 12 inputs of ~.0028 BTC (total of .0336) was the equivalent of $15 USD in BTC at $2500/BTC. So, it would be $15 to transmit $84....crazy. I don't care if it takes a week to confirm, but the slider didnt go any lower. Unless there is a trick to electrum I dont know about.
To avoid micro wallet deposits creating large numbers of inputs am I better sending them to an exchange and let them "consolidate" there and then move them when I need them? IF I send to my Electrum wallet after a month I have 30 inputs, which is going to cost a fortune to move. I just tried to move 12 days worth and the lowest fees setting was still going to amount to about $15. Middle of the road setting was $25. To move $84 worth of BTC is going to cost $25? Not doing that. So is the exchange consolidation plan viable?
Be patient and go with the minimum fee (~1 sat/byte). Your minimum consolidation fee should be about $.15. That's an extremely low .2% fee.
Probably not... most online services have a minimum deposit amount, usually around the 0.001 region... anything less than that will be considered a "donation" 
So be careful that you don't lose any coins attempting to send dust payments to exchanges etc.
Where are you getting these inputs from? Fauceting? Cloud mining? Can you not set the minimum payout amount to 0.01 or higher? That way you won't get as many UTXOs and your transaction sizes and fees won't be made unnecessarily large.
Poloniex has this to say about minimum deposit amounts:
So be careful that you don't lose any coins attempting to send dust payments to exchanges etc.
Where are you getting these inputs from? Fauceting? Cloud mining? Can you not set the minimum payout amount to 0.01 or higher? That way you won't get as many UTXOs and your transaction sizes and fees won't be made unnecessarily large.
Poloniex has this to say about minimum deposit amounts:
Quote from: https://poloniex.freshdesk.com/support/solutions/articles/1000249112-minimum-deposit-amount
Some currencies have a minimum amount for deposits, this amount is written at the deposit page under each currency deposit address.
If you send less than the minimum by mistake, you can simply send more until the balance of the deposit address is above the minimum, you can use a block explorer to track the address balance, simply search for your Poloniex deposit address on the block explorer to check exactly how much you already have at your deposit address and how much you still need to send.
Please mind the network fee when making the transaction, 1 ETH after the network fee will be .99 ETH, if the minimum limit is 1 ETH the .99 ETH will not credit until more ETH is sent. This apply to all coins with a minimum deposit limit.
Once the deposit address is funded with enough balance the whole amount will be automatically credited to your Poloniex account.
So maybe your consolidation plan will work... but bear in mind that you have no control of the fees they choose to send your transaction out with...If you send less than the minimum by mistake, you can simply send more until the balance of the deposit address is above the minimum, you can use a block explorer to track the address balance, simply search for your Poloniex deposit address on the block explorer to check exactly how much you already have at your deposit address and how much you still need to send.
Please mind the network fee when making the transaction, 1 ETH after the network fee will be .99 ETH, if the minimum limit is 1 ETH the .99 ETH will not credit until more ETH is sent. This apply to all coins with a minimum deposit limit.
Once the deposit address is funded with enough balance the whole amount will be automatically credited to your Poloniex account.
I get about .0028 everyday from cloud mining BTC. Genesis doesn't have a minimum threshold, they send once per day, no matter what. I asked support they said they would be less desirable to hackers since they don't hold large balances. And if they did have a hack, they could easily cover one day worth of mining without going out of business. I changed my wallet for genesis to an exchange, lets see what happens for a bit. Thanks for reply.
Dont wonder. 
Just look at how many numbers the bitcoin price have gotten into.
That is why it really takes a lot of money for every transaction.
Actually, I have thought of this.
Why the hell it became the opposite.
When bitcoin is cheaper, miners need a lot of money for electric bills. So they should have increase the tx fees.
Now that it is so expensive, why do the increase? Lame and somehow it looks like greed.
Just look at how many numbers the bitcoin price have gotten into. That is why it really takes a lot of money for every transaction.
Actually, I have thought of this.
Why the hell it became the opposite.
When bitcoin is cheaper, miners need a lot of money for electric bills. So they should have increase the tx fees.
Now that it is so expensive, why do the increase?
Lame and somehow it looks like greed.
Probably not... most online services have a minimum deposit amount, usually around the 0.001 region... anything less than that will be considered a "donation"
So be careful that you don't lose any coins attempting to send dust payments to exchanges etc.
Where are you getting these inputs from? Fauceting? Cloud mining? Can you not set the minimum payout amount to 0.01 or higher? That way you won't get as many UTXOs and your transaction sizes and fees won't be made unnecessarily large.
Poloniex has this to say about minimum deposit amounts:
So be careful that you don't lose any coins attempting to send dust payments to exchanges etc.
Where are you getting these inputs from? Fauceting? Cloud mining? Can you not set the minimum payout amount to 0.01 or higher? That way you won't get as many UTXOs and your transaction sizes and fees won't be made unnecessarily large.
Poloniex has this to say about minimum deposit amounts:
Quote from: https://poloniex.freshdesk.com/support/solutions/articles/1000249112-minimum-deposit-amount
Some currencies have a minimum amount for deposits, this amount is written at the deposit page under each currency deposit address.
If you send less than the minimum by mistake, you can simply send more until the balance of the deposit address is above the minimum, you can use a block explorer to track the address balance, simply search for your Poloniex deposit address on the block explorer to check exactly how much you already have at your deposit address and how much you still need to send.
Please mind the network fee when making the transaction, 1 ETH after the network fee will be .99 ETH, if the minimum limit is 1 ETH the .99 ETH will not credit until more ETH is sent. This apply to all coins with a minimum deposit limit.
Once the deposit address is funded with enough balance the whole amount will be automatically credited to your Poloniex account.
So maybe your consolidation plan will work... but bear in mind that you have no control of the fees they choose to send your transaction out with... If you send less than the minimum by mistake, you can simply send more until the balance of the deposit address is above the minimum, you can use a block explorer to track the address balance, simply search for your Poloniex deposit address on the block explorer to check exactly how much you already have at your deposit address and how much you still need to send.
Please mind the network fee when making the transaction, 1 ETH after the network fee will be .99 ETH, if the minimum limit is 1 ETH the .99 ETH will not credit until more ETH is sent. This apply to all coins with a minimum deposit limit.
Once the deposit address is funded with enough balance the whole amount will be automatically credited to your Poloniex account.
To avoid micro wallet deposits creating large numbers of inputs am I better sending them to an exchange and let them "consolidate" there and then move them when I need them? IF I send to my Electrum wallet after a month I have 30 inputs, which is going to cost a fortune to move. I just tried to move 12 days worth and the lowest fees setting was still going to amount to about $15. Middle of the road setting was $25. To move $84 worth of BTC is going to cost $25? Not doing that. So is the exchange consolidation plan viable?
Yeah, small micro-transactions with low fees like that will be the lowest priority, but they will relay and likely confirm.
Back to op, you cant do anything about it on the sudden price increase of tx fee on bitcoin and you are not the only one having a problem on that. This is why when you tried to make transfers then better to avoid micro tx becuase fees will hurt you out.
Yeah, small micro-transactions with low fees like that will be the lowest priority, but they will relay and likely confirm.
Most bitcoin wallets play it safe and set fees so that transactions get confirmed in the next block or two. But if you don't mind waiting 6-9 blocks (1-1.5 hours), you can get away with 1/10th the fees. Take a look at this graph:
https://bitcoinfees.github.io/misc/profile/
330 sat/byte to get to the next block, but just 26-32 sat/byte to get confirmed in 6-9 blocks.
https://bitcoinfees.github.io/misc/profile/
330 sat/byte to get to the next block, but just 26-32 sat/byte to get confirmed in 6-9 blocks.
If you're patient, you can get away with 1 sat/byte fee and get it confirmed in a day or so.
Not that quick, but I got 1.547 sats/byte confirmed in 24.5 days. I had patience.
I haven't seen any statistics regarding minimum relay fees lately. With the amount of potential spam about, I suspect it has become common for node owners to set one. Will that low a fee even propagate to a block solving node?
1 sat/byte is the current default minimum relay. Few nodes change from the default. It'll get relayed to virtually everyone and mined just fine. I know, 2 weeks ago I sent 5.5 btc, just under 1500 bytes with just over 1500 sats, and it confirmed in a few hours.
Most bitcoin wallets play it safe and set fees so that transactions get confirmed in the next block or two. But if you don't mind waiting 6-9 blocks (1-1.5 hours), you can get away with 1/10th the fees. Take a look at this graph:
https://bitcoinfees.github.io/misc/profile/
330 sat/byte to get to the next block, but just 26-32 sat/byte to get confirmed in 6-9 blocks.
https://bitcoinfees.github.io/misc/profile/
330 sat/byte to get to the next block, but just 26-32 sat/byte to get confirmed in 6-9 blocks.
If you're patient, you can get away with 1 sat/byte fee and get it confirmed in a day or so.
I haven't seen any statistics regarding minimum relay fees lately. With the amount of potential spam about, I suspect it has become common for node owners to set one. Will that low a fee even propagate to a block solving node?
Most bitcoin wallets play it safe and set fees so that transactions get confirmed in the next block or two. But if you don't mind waiting 6-9 blocks (1-1.5 hours), you can get away with 1/10th the fees. Take a look at this graph:
https://bitcoinfees.github.io/misc/profile/
330 sat/byte to get to the next block, but just 26-32 sat/byte to get confirmed in 6-9 blocks.
https://bitcoinfees.github.io/misc/profile/
330 sat/byte to get to the next block, but just 26-32 sat/byte to get confirmed in 6-9 blocks.
If you're patient, you can get away with 1 sat/byte fee and get it confirmed in a day or so.
I dont think that 1 sat/byte fees will confirm you transaction even on 48 hrs as almost it will get rejected, you have to put atleast some nominal fees if not why the miner will take your transaction for confirmation. Ya it is true that ViaBTC accelerator is working good and if you put minimum 50 sat/byte fees it will get your confirmation soon in 3 to 4 hrs time.
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