Topic: Blockchain FEE high ?????? (Read 2178 times)

Hahaha bitcoin tax. Holy shit you really are new. It's a miner fee. Also, wow blockchain.info or xapo? That's like choosing between a functioning mental patient and a cracked out whore to be president. They're both shit options. Look into cold storage champ.

In my own understanding that was just the average fee on that particular time and same as other members said here that you cant adjust it on xapo which you can do in blockchain and if you dont like paying always high fee then you should switch on another wallet.

No they are not charging you for network fees when you are sending out bitcoins in Xapo. They are performing staged transactions like combining out-going transactions into one single transactions to save fees.
For this reason, you are not allowed to change the miner fee (there is no provisions for setting up miner fees at all).

Blockchain charge us fees based on network miner fee trend. This is for sake of getting our transactions confirmed as quick as possible.

Just change your wallet. I used xapo for about 3 months. And i dont know how to change the miner fee on that wallet. I use mycellium and electrum wallet. Both of them can change the miner fees. But i only use priority to normal fee. Xapo i believe is charging fee for using their wallet. Thats why i changed my wallet.

OK, i've given this explanation before, but here we go again:

The way this usually works:
you create a transaction, using your wallet of choice (altough i strongly discourage the use of online wallets, even such a wallet will work).
The wallet will use unspent inputs to addresses it manages to create the transaction, and broadcast this transaction to the network.
This broadcasted transaction will go to the mempool of the nodes, where it will stay untill it gets added to a block or untill the node decides to drop the transaction (each node can have his own configuration, and the mempool is cleared when the node is restarted to).

On average, one block gets mined every ~10 minutes, one block has a fixed maximum size of 1 Mb. Since the transaction also has a physical size that depends on the amount of inputs that are used by the transaction and the number of outputs that are generated by the transaction, only a limited amount of transactions will physically fit into a block.

A "minimal" transaction (altough this does not exist) of one input and two outputs might have a size of ~225 bytes. This means that only about 4000 transactions will fit into a block, given that all transactions are really small and the block is completely filled. In reality, most full blocks seem to contain about ~2000 tx's (i didn't create statistics for this, i found this number just by looking at the last couple of blocks).

A miner can chose which unconfirmed transactions he will add to the block he's currently working on, but since he wants to optimize his income, it's wise of him to add the transactions that have the highest fee per byte of transaction data.

At the moment https://btc.com/stats/unconfirmed-tx shows me that there are about 50Mb of transactions into the mempool of btc.com's node.

So, to go back to your original question: if you want your transaction to be added to a block, it might be a good idear to:
1) calculate your transaction size => (in*180 + out*34 + 10) for a P2PKH ("normal") transaction
2) look up a good fee per byte on https://bitcoinfees.21.co/ (160 satoshi's per byte a the time of writing)
3) multiply the size by the optimal fee, round up and add this fee to your transaction

This way, you have a 90% chance of getting added to one of the next couple of blocks

EDIT: DannyHamilton pointed out that my information on how to estimate transaction sizes is outdated,using inputs from a compressed address only accounts for ~149 bytes instead of 180.
link

Knowing about the backlog of unconfirmed TXs  you will want to keep transaction fees even higher to avoid malleability if you want to see tx confirmations faster.

ADVICE: Blockchain.info isn't the problem so changing of wallets won't fix the problem unless you pay higher tx fees.

In blockchain.info web wallet you can click on advanced option while sending, there you will see recommended fee which is preset according to your size of transaction and in below that it will show how much time it may require to get confirmation. If you lower that fee you have to wait more hours so better to go with recommended fee.

Actually blockchain isn't increasing fees by themselves they will just suggest you fee according to your transaction size. If you have received small amount of bitcoin several times than to send out what you have in total, there will be lots of inputs which will increase size of transactions which in turn will also increase fee.

change minimum fee became 0.0001 would make your transactions took very long and will confirmed more than 1 day but 0.0002 or 0.0003 btc for each transactions is more good and actually where did you get this info because because i have tested it that send my bitcoin 0.003 btc using blockchain.info and the fee still normal 0.00015 btc nothing change

is very big is sending fee 0.0015 bitcoin and not normal
but how much byte in youre sending, how much bitcoin youre sending, is byte sending is very big is normal if fee sending big too

thnx you for advice 

No!, don't make it 0.0001 it will takes for how many days before it confirms on the network or if where do you want to send it. Make it 0.0003-0.0005 so it will be much faster to confirm. Totally 0.0015 is much fee and I encountered like that amount also that's when I sent BTC for amount of +0.1.

So if you want to send with such a low amount make it as what I said above for the fee.

hello, i think that 99% of wallet in the web have a high fees and the samething with blockchain but you must know that when you pay more fees your transaction go fast and don't take a lot of time and when you pay small fee your  transaction  take more time to be confirmed
and now in xapo start also making fees to the low amount transaction  i think because it take a long time

thnx for advice

is big fee if someone have low balance like if i want send 0.006 btc and u take from me 0.0015 btc -_- is gone 1/4 from my balance

so i should change fee minimum 0.00010 btc ? cause i dont want lose my btc and lose big fee what a good normal fee ? 0.003 / 0.0002/ ?

I believe that if you have blockchain.info, you can change the transaction fee amount in your settings. That fee is just the recommended one for you, you don't have to pay it all the time. But the higher you pay, the faster it reaches its destination.
Also, I think that $1.5 fee is not that big compared to bitcoin price at the moment, but it's disastrous in case of smaller transactions.

GUYS about TAX FEE in blockchain  why is high 0.0015 BTC
will make fee normal at normal ?

give me some advice : i change to XAPO or other wallet secured like Btc.com or i stay in blockchain ?