blockchain $2 fee on $40 transaction? :/

neochiny

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Quote from: mixan on November 25, 2016, 09:37:33 AM

Quote from: neochiny on November 24, 2016, 06:38:32 PM

Quote from: mixan on November 24, 2016, 05:51:04 PM

Quote from: neochiny on November 24, 2016, 05:33:04 PM

Quote from: BrannigansLaw on November 13, 2016, 02:50:46 PM

I've not sent anything from my blockchain wallet in a long time, but upon deciding to cash out I niotice a $2+ recommended fee. wtf? why is this?

I myself have recently used blockchain.info , and was charged with $.92 fee for $35 transaction.
So, does anyone know how to calculate transaction size? I wish to pay my own fees instead of going with the one suggested.(In case fee is too high again.)

That is a nominal fee that I remember being charged when I used blockchain.info wallet before.
I have since started using web wallets that do not charge the tx fee for sending.
But I have since then noticed that when there is a problem with it being sent to your wallet you have to go thru the wallets support line and then wait until they get back to you while your bitcoins are in limbo waiting to be sent to the wallet.

The transaction size was 189 bytes and I was charged .0012 which means 634/byte. It was a newly created wallet and that was the first/second transaction I made,that's why I really wasn't expecting such a high fee. Is it really the nominal fees these days? I remember being charged about $.15 before, so it was probably just a bad time to send.(too much traffic with too many high fees)

That is why, I'm asking if there's a way one could know the transaction size before sending so I could somehow set the aproppriate fees. I'm not really too familiar with blockchain.info and I usually just go with the suggested fees but I read somewhere that fees ought to be 10/byte. So, how would I know how many bytes a transaction would be?

That is what I was told by the web wallet support team as they are not able to do free sends anymore because on all these micro sends they cost them more than the actual sent amounts themselves.
There is a calculator out there but can not recall the link to it to know how much to apply in the send as the miner's fee.
It is pretty precise.

I see. Thanks a lot! I'm gonna hunt for that calculator then.

And yeah, frankly I don't really like paying for tx fees(I'm a cheapskate), but sometimes it just can't be helped. The free wallets are great, until there's a problem. lol.(Haven't personally encountered one yet, but I see plenty of complaints.) Or when funds are for casinos and the like. wew.

mixan

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Quote from: neochiny on November 24, 2016, 06:38:32 PM

Quote from: mixan on November 24, 2016, 05:51:04 PM

Quote from: neochiny on November 24, 2016, 05:33:04 PM

Quote from: BrannigansLaw on November 13, 2016, 02:50:46 PM

I've not sent anything from my blockchain wallet in a long time, but upon deciding to cash out I niotice a $2+ recommended fee. wtf? why is this?

I myself have recently used blockchain.info , and was charged with $.92 fee for $35 transaction.
So, does anyone know how to calculate transaction size? I wish to pay my own fees instead of going with the one suggested.(In case fee is too high again.)

That is a nominal fee that I remember being charged when I used blockchain.info wallet before.
I have since started using web wallets that do not charge the tx fee for sending.
But I have since then noticed that when there is a problem with it being sent to your wallet you have to go thru the wallets support line and then wait until they get back to you while your bitcoins are in limbo waiting to be sent to the wallet.

The transaction size was 189 bytes and I was charged .0012 which means 634/byte. It was a newly created wallet and that was the first/second transaction I made,that's why I really wasn't expecting such a high fee. Is it really the nominal fees these days? I remember being charged about $.15 before, so it was probably just a bad time to send.(too much traffic with too many high fees)

That is why, I'm asking if there's a way one could know the transaction size before sending so I could somehow set the aproppriate fees. I'm not really too familiar with blockchain.info and I usually just go with the suggested fees but I read somewhere that fees ought to be 10/byte. So, how would I know how many bytes a transaction would be?

That is what I was told by the web wallet support team as they are not able to do free sends anymore because on all these micro sends they cost them more than the actual sent amounts themselves.
There is a calculator out there but can not recall the link to it to know how much to apply in the send as the miner's fee.
It is pretty precise.

neochiny

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Quote from: mixan on November 24, 2016, 05:51:04 PM

Quote from: neochiny on November 24, 2016, 05:33:04 PM

Quote from: BrannigansLaw on November 13, 2016, 02:50:46 PM

I've not sent anything from my blockchain wallet in a long time, but upon deciding to cash out I niotice a $2+ recommended fee. wtf? why is this?

I myself have recently used blockchain.info , and was charged with $.92 fee for $35 transaction.
So, does anyone know how to calculate transaction size? I wish to pay my own fees instead of going with the one suggested.(In case fee is too high again.)

That is a nominal fee that I remember being charged when I used blockchain.info wallet before.
I have since started using web wallets that do not charge the tx fee for sending.
But I have since then noticed that when there is a problem with it being sent to your wallet you have to go thru the wallets support line and then wait until they get back to you while your bitcoins are in limbo waiting to be sent to the wallet.

The transaction size was 189 bytes and I was charged .0012 which means 634/byte. It was a newly created wallet and that was the first/second transaction I made,that's why I really wasn't expecting such a high fee. Is it really the nominal fees these days? I remember being charged about $.15 before, so it was probably just a bad time to send.(too much traffic with too many high fees)

That is why, I'm asking if there's a way one could know the transaction size before sending so I could somehow set the aproppriate fees. I'm not really too familiar with blockchain.info and I usually just go with the suggested fees but I read somewhere that fees ought to be 10/byte. So, how would I know how many bytes a transaction would be?

mixan

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Quote from: neochiny on November 24, 2016, 05:33:04 PM

Quote from: BrannigansLaw on November 13, 2016, 02:50:46 PM

I've not sent anything from my blockchain wallet in a long time, but upon deciding to cash out I niotice a $2+ recommended fee. wtf? why is this?

I myself have recently used blockchain.info , and was charged with $.92 fee for $35 transaction.
So, does anyone know how to calculate transaction size? I wish to pay my own fees instead of going with the one suggested.(In case fee is too high again.)

That is a nominal fee that I remember being charged when I used blockchain.info wallet before.
I have since started using web wallets that do not charge the tx fee for sending.
But I have since then noticed that when there is a problem with it being sent to your wallet you have to go thru the wallets support line and then wait until they get back to you while your bitcoins are in limbo waiting to be sent to the wallet.

neochiny

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Quote from: BrannigansLaw on November 13, 2016, 02:50:46 PM

I've not sent anything from my blockchain wallet in a long time, but upon deciding to cash out I niotice a $2+ recommended fee. wtf? why is this?

I myself have recently used blockchain.info , and was charged with $.92 fee for $35 transaction.
So, does anyone know how to calculate transaction size? I wish to pay my own fees instead of going with the one suggested.(In case fee is too high again.)

marlboroza

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Quote from: BingoDog on November 21, 2016, 02:03:13 PM

This is huge fee! I use blockchain but have ner faced such a big fee for transactions. Maybe is some error or what? Yor can always try to customize the fee but I'm not so sure if this is clever, you may end with your transaction uncinfirmed.

Its not error. OP has too many inputs, and when he sent coins for every input blockchain.info calculated fee.

BingoDog

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This is huge fee! I use blockchain but have ner faced such a big fee for transactions. Maybe is some error or what? Yor can always try to customize the fee but I'm not so sure if this is clever, you may end with your transaction uncinfirmed.

kanazawa

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With blockchain.info wallet you can see the tax before send any amount of money. You can check why such thing happen... But it's extremely bizarre this taxation. You should use a service that provides you a visualization of all values before sending. As I know, blockchain.info is the best wallet (in my opinion).

CraigWrightBTC

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The Blockchain.info had made updated new fitures on their service and although it is not too users friendly, i saw there were some people who got problem because of it include on this thread and i think the Blockchain has been applied new fees of transaction when using it.

acroman08

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Quote from: mrcash02 on November 15, 2016, 03:45:11 PM

I'm talking about Blockchain.info, how do I lower the transaction priority there?

Even they don't take fees, I don't want to use Xapo, they are asking for personal informations, I don't want to give it them.

The transaction priority would automatically lower once you use advanced send and opt for a lower fee than the one suggested.

Quote from: FzBundle on November 15, 2016, 03:45:58 PM

This first time i hear Xapo will pay the transaction fee.Is it true ? Sorry i never use Xapo before that why i don have any information about this.I will try using Xapo and test it.Usually i often sending amount beloe than $5,using blockchain wallet,i losing a lot because of the fee.

Yes, Xapo wallet is free. This means they pay for your transaction fees. Same as Coinbase.
So if you're usually sending small amounts and don't want to pay for the fees, you could use either Xapo or Coinbase. Do remember however that they usually require verification and you must read their TOS since they are known for freezing user accounts.

As for topic, well, they do sometimes charge high fee, so in cases like these I usually just change the fee myself especially when I don't really need "high priority"/can afford to wait for the long confirmation times.

$2 fee for $40 is crazy.

Quote from: CryptoDatabase on November 14, 2016, 10:41:13 PM

You can avoid really high fees like that by consolidating all of your coins into one address. Think of it like transferring money between banks.

You have $1 at Bank A, $30 at Bank B, $0.50 at Bank C, so on and so on. It would be reasonable to expect to have to pay more to transfer a set amount that uses each bank in sequence to send it compared to only 1 bank having to send it.

I see. So that's how I could minimize tx size. Thanks for info.

Zadicar

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$2 transaction fee is already high on a $40 money transfer and i think its already included on high priority, In fact this fee is huge already. Actually you could set anytime on how much fee would you use. Some members do already mention and give links on how you gonna do it. You just need to set it. Some wallets dont have transaction fees but you should expect long waiting confirmation times.

Invulner

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Quote from: BrannigansLaw on November 13, 2016, 02:50:46 PM

I've not sent anything from my blockchain wallet in a long time, but upon deciding to cash out I niotice a $2+ recommended fee. wtf? why is this?

It might have been because all your inputs are extremely low in amounts or the size of the transaction is really really high. If you don't need the amount confirmed in a few minutes then you can probably get away with a 0.0001 or 0.0002 fee. It'll get confirmed in maximum a day. There is really no point paying for 2.5% of the transaction in fees. You can use Western Union for that, lol.

arransiv

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Sometimes blockchain.info recommend to me a higher fee too, don't know if it's the "rush hour" or something like that however when I have no rush I just use an advanced send and choose an "60 min" fee to save some money...

boyptc

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Quote from: FzBundle on November 15, 2016, 03:45:58 PM

This first time i hear Xapo will pay the transaction fee.Is it true ? Sorry i never use Xapo before that why i don have any information about this.I will try using Xapo and test it.Usually i often sending amount beloe than $5,using blockchain wallet,i losing a lot because of the fee.

You are commenting out of the context. You must be able to read the title first and as well its content.
Op is talking about the block chain fees for his transaction and not with xapo and besides that Xapo is not charging transaction fees.

FzBundle

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This first time i hear Xapo will pay the transaction fee.Is it true ? Sorry i never use Xapo before that why i don have any information about this.I will try using Xapo and test it.Usually i often sending amount beloe than $5,using blockchain wallet,i losing a lot because of the fee.

mrcash02

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Quote from: erikalui on November 15, 2016, 03:34:44 PM

Quote from: mrcash02 on November 15, 2016, 03:23:48 PM

Quote from: dustboy on November 14, 2016, 10:37:22 PM

Quote from: mrcash02 on November 14, 2016, 10:56:28 AM

I know how you feel... The fees there are high. I made a 0.002 BTC transaction and had to paid at least 11.000 satoshis fee with the estimated complete time in 60 minutes. I tried to reduce more the fee, but it didn't let me, said the fee was very low and insufficient to complete the transaction. So, we don't have a way to pay lower fees... Sad

The fees recommended by blockchain is always based on the total size of your transaction. Higher transaction size = higher fees, so it is not based on how much btc you are going to send. If you want lower fee then your transaction will be on medium priority. Perhaps you should move to xapo wallet if you want to avoid fees.

Xapo is more complicated to use. How do I change the transaction priority to medium for an example?

I usually don't want fast transactions, because I don't need it, I just want to pay lower fees.

Why would you need to pay lower fees with Xapo when Xapo pays the fee on your behalf? It doesn't have an option to prioritize your transaction unlike blockchain as Xapo is like a bank and not just a wallet.

I'm talking about Blockchain.info, how do I lower the transaction priority there?

Even they don't take fees, I don't want to use Xapo, they are asking for personal informations, I don't want to give it them.

erikalui

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Quote from: mrcash02 on November 15, 2016, 03:23:48 PM

Quote from: dustboy on November 14, 2016, 10:37:22 PM

Quote from: mrcash02 on November 14, 2016, 10:56:28 AM

I know how you feel... The fees there are high. I made a 0.002 BTC transaction and had to paid at least 11.000 satoshis fee with the estimated complete time in 60 minutes. I tried to reduce more the fee, but it didn't let me, said the fee was very low and insufficient to complete the transaction. So, we don't have a way to pay lower fees... Sad

The fees recommended by blockchain is always based on the total size of your transaction. Higher transaction size = higher fees, so it is not based on how much btc you are going to send. If you want lower fee then your transaction will be on medium priority. Perhaps you should move to xapo wallet if you want to avoid fees.

Xapo is more complicated to use. How do I change the transaction priority to medium for an example?

I usually don't want fast transactions, because I don't need it, I just want to pay lower fees.

Why would you need to pay lower fees with Xapo when Xapo pays the fee on your behalf? It doesn't have an option to prioritize your transaction unlike blockchain as Xapo is like a bank and not just a wallet.

mrcash02

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Quote from: dustboy on November 14, 2016, 10:37:22 PM

Quote from: mrcash02 on November 14, 2016, 10:56:28 AM

I know how you feel... The fees there are high. I made a 0.002 BTC transaction and had to paid at least 11.000 satoshis fee with the estimated complete time in 60 minutes. I tried to reduce more the fee, but it didn't let me, said the fee was very low and insufficient to complete the transaction. So, we don't have a way to pay lower fees... Sad

The fees recommended by blockchain is always based on the total size of your transaction. Higher transaction size = higher fees, so it is not based on how much btc you are going to send. If you want lower fee then your transaction will be on medium priority. Perhaps you should move to xapo wallet if you want to avoid fees.

Xapo is more complicated to use. How do I change the transaction priority to medium for an example?

I usually don't want fast transactions, because I don't need it, I just want to pay lower fees.

erikalui

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On an amount as small as $32.6, I was recommended a 0.002 BTC fee but I adjusted it to 0.0001 and it got confirmed after 2 hours. The wallet does say that the transaction might never get confirmed with the small fee but it does get confirmed soon and hence just accept the notification that pops up (continue with the current fee) and send the coins.

Is there any method to say the fixed fee to avoid entering the amount everytime I send coins via blockchain?

CryptoDatabase

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You can avoid really high fees like that by consolidating all of your coins into one address. Think of it like transferring money between banks.

You have $1 at Bank A, $30 at Bank B, $0.50 at Bank C, so on and so on. It would be reasonable to expect to have to pay more to transfer a set amount that uses each bank in sequence to send it compared to only 1 bank having to send it.

dustboy

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Quote from: mrcash02 on November 14, 2016, 10:56:28 AM

I know how you feel... The fees there are high. I made a 0.002 BTC transaction and had to paid at least 11.000 satoshis fee with the estimated complete time in 60 minutes. I tried to reduce more the fee, but it didn't let me, said the fee was very low and insufficient to complete the transaction. So, we don't have a way to pay lower fees... Sad

The fees recommended by blockchain is always based on the total size of your transaction. Higher transaction size = higher fees, so it is not based on how much btc you are going to send. If you want lower fee then your transaction will be on medium priority. Perhaps you should move to xapo wallet if you want to avoid fees.

mrcash02

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I know how you feel... The fees there are high. I made a 0.002 BTC transaction and had to paid at least 11.000 satoshis fee with the estimated complete time in 60 minutes. I tried to reduce more the fee, but it didn't let me, said the fee was very low and insufficient to complete the transaction. So, we don't have a way to pay lower fees... Sad

Herbert2020

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Quote from: BrannigansLaw on November 13, 2016, 06:08:48 PM

Quote from: SmartIphone on November 13, 2016, 04:01:22 PM

Quote from: BrannigansLaw on November 13, 2016, 03:58:36 PM

Well I sent it with a 0.00022 fee ($0.15), so still a big fee but I need it to confirm quickly, so we will see. Here is the transaction, btw I love my address! https://blockchain.info/tx/8de09aba4a2ac79c8b4240eb294d1ca4c50ce96c7eb938950348dccd07d9a784

Just check your transaction size and you will conclude that it will be very hard for this tx to get confirmed.
You have many inputs which caused the transaction size to be Size : 7437 (bytes)

bah so thats $40 down the toilet? does say 'medium' priority'

you got lucky that your transaction was confirmed with such a low fee of 0.00022 BTC while having 7437 (bytes) because it is an extremely low amount of fee for a big transaction like yours which has 41 inputs!

read this site: http://bitcoinfees.21.co/
it has some good information about fees and how they are calculated based on the size of your transaction.

oh and by the way the 'medium' priority' that blockchain.info gives you is usually a bad estimate.

BrannigansLaw

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Quote from: SmartIphone on November 13, 2016, 04:01:22 PM

Quote from: BrannigansLaw on November 13, 2016, 03:58:36 PM

Well I sent it with a 0.00022 fee ($0.15), so still a big fee but I need it to confirm quickly, so we will see. Here is the transaction, btw I love my address! https://blockchain.info/tx/8de09aba4a2ac79c8b4240eb294d1ca4c50ce96c7eb938950348dccd07d9a784

Just check your transaction size and you will conclude that it will be very hard for this tx to get confirmed.
You have many inputs which caused the transaction size to be Size : 7437 (bytes)

bah so thats $40 down the toilet? does say 'medium' priority'

CasinoBetGame

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you can setting about fee
you can set minimum fee sending, but this send inrcaese bitcoin so sending fee up and incrase too
minium sending fee in blockchain 15k satoshi but can inraese if sending much bitcoin

SmartIphone

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Quote from: BrannigansLaw on November 13, 2016, 03:58:36 PM

Well I sent it with a 0.00022 fee ($0.15), so still a big fee but I need it to confirm quickly, so we will see. Here is the transaction, btw I love my address! https://blockchain.info/tx/8de09aba4a2ac79c8b4240eb294d1ca4c50ce96c7eb938950348dccd07d9a784

Just check your transaction size and you will conclude that it will be very hard for this tx to get confirmed.
You have many inputs which caused the transaction size to be Size : 7437 (bytes)

BrannigansLaw

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Well I sent it with a 0.00022 fee ($0.15), so still a big fee but I need it to confirm quickly, so we will see. Here is the transaction, btw I love my address! https://blockchain.info/tx/8de09aba4a2ac79c8b4240eb294d1ca4c50ce96c7eb938950348dccd07d9a784

SmartIphone

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Quote from: BrannigansLaw on November 13, 2016, 02:50:46 PM

I've not sent anything from my blockchain wallet in a long time, but upon deciding to cash out I niotice a $2+ recommended fee. wtf? why is this?

Don't use the recommended fee if they are really high, I have seen people making transactions that have a value of million of dollars and pay only $0.0x.
Based on the last block the transaction has paid from 0.0001 to 0.0002 for a transaction that has average size <225 Bytes.

steven0021

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Quote from: BrannigansLaw on November 13, 2016, 03:13:57 PM

Quote from: BitcoinNewsMagazine on November 13, 2016, 03:06:47 PM

Just set your fee manually using https://bitcoinfees.21.co/ as a guide. BTW I just sent from bc.info using advanced send and the suggested fee was reasonable and low.

ok cool but how do I see how many bytes my transaction will be? I've not sent it yet.

IIRC you can't. BC.I doesn't let you see the full preview of your tx, or set a fee per kb manually.
It does tell you the estimated confirmation time (which is not very reliable) when you change the fee.

Skarner21

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Massive price drop coming...

Quote from: BrannigansLaw on November 13, 2016, 03:13:57 PM

Quote from: BitcoinNewsMagazine on November 13, 2016, 03:06:47 PM

Just set your fee manually using https://bitcoinfees.21.co/ as a guide. BTW I just sent from bc.info using advanced send and the suggested fee was reasonable and low.

ok cool but how do I see how many bytes my transaction will be? I've not sent it yet.

Try to send it and click advance below in description while you are in sending and set your own fee.. like i said i am paying 0.00022 for 0.1 btc so i think you can set it 0.0002 for high priority.. and maybe it can reduce your recommended fee in blockchain..

BrannigansLaw

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Quote from: BitcoinNewsMagazine on November 13, 2016, 03:06:47 PM

Just set your fee manually using https://bitcoinfees.21.co/ as a guide. BTW I just sent from bc.info using advanced send and the suggested fee was reasonable and low.

ok cool but how do I see how many bytes my transaction will be? I've not sent it yet.

BitcoinNewsMagazine

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Just set your fee manually using https://bitcoinfees.21.co/ as a guide. BTW I just sent from bc.info using advanced send and the suggested fee was reasonable and low.

steven0021

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TXid (if you've sent it)? I'm sure that it's because your transaction size is quite big. And again, the amount of btc being transferred have very little to do with the recommended fee. It's the size of the transaction that matters.

Skarner21

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Massive price drop coming...

Its weird i am paying for cents in my 0.1 btc send to another wallet i am paying for 0.000220 sat for transaction fee with high recommended fee in electrum maybe there is some mistake on blockchain and i think better to try to contact them i did not see any news about block chain maybe there is some mistake because they are upgraded the blockchain wallet..

BrannigansLaw

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I've not sent anything from my blockchain wallet in a long time, but upon deciding to cash out I niotice a $2+ recommended fee. wtf? why is this?

Topic: blockchain $2 fee on $40 transaction? :/ (Read 1123 times)