Can I do anything about my dust? | Bitcointalksearch.org

PilotofBTC

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Quote from: bitart on August 16, 2017, 04:29:01 PM

Quote from: PilotofBTC on August 16, 2017, 11:01:28 AM

Quote from: Pettuh4 on August 14, 2017, 03:30:01 PM

Quote from: PilotofBTC on August 14, 2017, 01:50:59 PM

Yea, it finally confirmed, I think it took 4 days. But, that's fine.

I'm just thinking, fees would be lower if everyone paid lower fees. Wink

I think I agree with you but it will be difficult to build a consensus on this to have everyone opt for the lower fees but if that was possible I bet we could have changed the status quo.

With bitcoin at $4200 USD, paying the current 150 sat per byte is pretty expensive. I'm surprised fees haven't creeped down as btc has gone up against fiat.

Probably due to wallets having defaults... and also having it denominated in BTC. I wonder if people say their fees in their fiat value, people would start lowering the fees. Wasn't that one of the "promises" (benefits) of bitcoin, 10 cent ish fee for transaction thousands or even millions?

Perhaps when Segwit happens and people start moving to SegWit txs blocks would all be 100% full and fees will creep back down.

Anyone knows a mobile wallet that lets me input the desired fee? (and not only I can choose from a drop down list, or similar e.g. priority, low prio, economy, etc.)
Last time I moved some gathered dust with Mycellium mobile wallet, I've paid like 50% of the amount for lowest prio fee and I don't want this again.
What happens when I move a lot of dust in 1 transaction, and after, I want to move forward that sum again to a different address? Does it still counts the original inputs, or it counts only the last transaction's input (which is 1). It affects the fee, this is why I'm wondering.

I couldn't find one, that's why I ended up using Electrum.

Kevin77

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Quote from: NorrisK on August 14, 2017, 01:54:07 PM

Quote from: PilotofBTC on August 14, 2017, 01:50:59 PM

Yea, it finally confirmed, I think it took 4 days. But, that's fine.

I'm just thinking, fees would be lower if everyone paid lower fees. Wink

Wow, didn't expect it to go through actually. Congrats.

Except that most people can't wait 4 days to get their transactions confirmed. The current fees is what it has settled on so far just from offer and demand.

One thing you should know is that when you’re making transactions, the transactions fees are not being charged from the amount you’re carrying out, but from the remaining balance you have in your wallet. So if it says not enough to spend, that means you don’t have enough left in your wallet to pay the fees.
Try reducing the amount that’s being carried out, and see if it works. And also, don’t choose a “High Priority” fees, or they will charge you a lot. Although high priority is fast, and seems to be better. The other option is slow.

bitart

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Vires in Numeris

Quote from: PilotofBTC on August 16, 2017, 11:01:28 AM

Quote from: Pettuh4 on August 14, 2017, 03:30:01 PM

Quote from: PilotofBTC on August 14, 2017, 01:50:59 PM

Yea, it finally confirmed, I think it took 4 days. But, that's fine.

I'm just thinking, fees would be lower if everyone paid lower fees. Wink

I think I agree with you but it will be difficult to build a consensus on this to have everyone opt for the lower fees but if that was possible I bet we could have changed the status quo.

With bitcoin at $4200 USD, paying the current 150 sat per byte is pretty expensive. I'm surprised fees haven't creeped down as btc has gone up against fiat.

Probably due to wallets having defaults... and also having it denominated in BTC. I wonder if people say their fees in their fiat value, people would start lowering the fees. Wasn't that one of the "promises" (benefits) of bitcoin, 10 cent ish fee for transaction thousands or even millions?

Perhaps when Segwit happens and people start moving to SegWit txs blocks would all be 100% full and fees will creep back down.

Anyone knows a mobile wallet that lets me input the desired fee? (and not only I can choose from a drop down list, or similar e.g. priority, low prio, economy, etc.)
Last time I moved some gathered dust with Mycellium mobile wallet, I've paid like 50% of the amount for lowest prio fee and I don't want this again.
What happens when I move a lot of dust in 1 transaction, and after, I want to move forward that sum again to a different address? Does it still counts the original inputs, or it counts only the last transaction's input (which is 1). It affects the fee, this is why I'm wondering.

PilotofBTC

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Activity: 1736

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Quote from: Pettuh4 on August 14, 2017, 03:30:01 PM

Quote from: PilotofBTC on August 14, 2017, 01:50:59 PM

Yea, it finally confirmed, I think it took 4 days. But, that's fine.

I'm just thinking, fees would be lower if everyone paid lower fees. Wink

I think I agree with you but it will be difficult to build a consensus on this to have everyone opt for the lower fees but if that was possible I bet we could have changed the status quo.

With bitcoin at $4200 USD, paying the current 150 sat per byte is pretty expensive. I'm surprised fees haven't creeped down as btc has gone up against fiat.

Probably due to wallets having defaults... and also having it denominated in BTC. I wonder if people say their fees in their fiat value, people would start lowering the fees. Wasn't that one of the "promises" (benefits) of bitcoin, 10 cent ish fee for transaction thousands or even millions?

Perhaps when Segwit happens and people start moving to SegWit txs blocks would all be 100% full and fees will creep back down.

Pettuh4

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Quote from: PilotofBTC on August 14, 2017, 01:50:59 PM

Yea, it finally confirmed, I think it took 4 days. But, that's fine.

I'm just thinking, fees would be lower if everyone paid lower fees. Wink

I think I agree with you but it will be difficult to build a consensus on this to have everyone opt for the lower fees but if that was possible I bet we could have changed the status quo.

NorrisK

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Quote from: PilotofBTC on August 14, 2017, 01:50:59 PM

Yea, it finally confirmed, I think it took 4 days. But, that's fine.

I'm just thinking, fees would be lower if everyone paid lower fees. Wink

Wow, didn't expect it to go through actually. Congrats.

Except that most people can't wait 4 days to get their transactions confirmed. The current fees is what it has settled on so far just from offer and demand.

PilotofBTC

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Yea, it finally confirmed, I think it took 4 days. But, that's fine.

I'm just thinking, fees would be lower if everyone paid lower fees. Wink

PilotofBTC

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Except... what's up with this block?

Why was it empty?

https://blockchain.info/block-height/480026

PilotofBTC

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Quote from: cpfreeplz on August 11, 2017, 01:21:49 PM

Quote from: PilotofBTC on August 11, 2017, 01:18:58 PM

it's been 24 hours and 31 minutes. Still not included in a block.

Sigh...

It's really not that bad of a fee so it'll go through at some point. If not (which I would honestly be shocked) you could always have your transaction rebroadcast, but I don't think it'll come to that.

idk, given how full the blocks are I'm not so sure.

cpfreeplz

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Quote from: PilotofBTC on August 11, 2017, 01:18:58 PM

it's been 24 hours and 31 minutes. Still not included in a block.

Sigh...

It's really not that bad of a fee so it'll go through at some point. If not (which I would honestly be shocked) you could always have your transaction rebroadcast, but I don't think it'll come to that.

PilotofBTC

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it's been 24 hours and 31 minutes. Still not included in a block.

Sigh...

PilotofBTC

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Quote from: jabetizo on August 10, 2017, 03:27:31 PM

Oh man. BTC is pushing some of us out. 0.03 doesn't seam like dust. It can buy a few meals in some countries. weird one. I thought fees where under a buck, they just take pretty long.

Sure, if it were a .03 output, it wouldn't be a problem.

But, yes, this seems to be a weakness in the bitcoin protocol, especially with the small block sizes.

jabetizo

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Oh man. BTC is pushing some of us out. 0.03 doesn't seam like dust. It can buy a few meals in some countries. weird one. I thought fees where under a buck, they just take pretty long.

PilotofBTC

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Quote from: Iranus on August 10, 2017, 02:07:24 PM

Quote from: PilotofBTC on August 10, 2017, 12:52:38 PM

Hmm... well, I've got the tx sent with electrum with a 50 sat/kbyte fee. It cost $7 to send but worth is rather than paying $75.

Transaction fees have got a bit higher now, so it's possible it could take longer.

I recommend submitting your transaction to the ViaBTC accelerator at the start of the hour to try and get your transaction in when they mine a block.

Since they've started dedicating a lot of hashrate to BCH, they'll mine less blocks, but you should still give it a try.

Tryed to submit, after finally getting the captca right (I hate those) it says fee too low.

So, I guess I'll just wait it out and see what happens.

U2

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I used to be indecisive, but now I'm not sure...

If you sent it with 5-20 Sats/byte it would eventually confirm. How many inputs are we talking about here? Just send it with a minimal fee and hope that it goes through at some point. It's really no loss if you were never going to send it because it would cost too much to sent anyway.

Edit nvm I see you sent it with 50 sats/byte. That's honestly more than I would have spent but idk, too late now lol. It should confirm within a few hours.

Iranus

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Quote from: PilotofBTC on August 10, 2017, 12:52:38 PM

Hmm... well, I've got the tx sent with electrum with a 50 sat/kbyte fee. It cost $7 to send but worth is rather than paying $75.

Transaction fees have got a bit higher now, so it's possible it could take longer.

I recommend submitting your transaction to the ViaBTC accelerator at the start of the hour to try and get your transaction in when they mine a block.

Since they've started dedicating a lot of hashrate to BCH, they'll mine less blocks, but you should still give it a try.

PilotofBTC

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Hmm... well, I've got the tx sent with electrum with a 50 sat/kbyte fee. It cost $7 to send but worth is rather than paying $75.

(175 inputs, 25862 bytes)

Now to see if/when it gets confirmed.

PilotofBTC

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Not sure what's up. I dropped the fee in coinomi to .0002 and it still tells me not enough for fees. Not sure how it's calculating this.

I tried it with Myclium and at it's low-pri (>150sat/byte) setting it tells me fees will be about 2/3 of the spend.

Is there another bip44 wallet that support derivation account path that lets you set your fee per byte? Perhaps Electrum?

pooya87

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Quote from: hatshepsut93 on August 09, 2017, 10:24:14 PM

Each output adds 180 bytes of weight to transaction,

180 is true only if his keys are the old version (the uncompressed which old wallets automatically created). now that compressed keys are common each output adds 148 bytes.
https://bitcoin.stackexchange.com/questions/1195/how-to-calculate-transaction-size-before-sending (see its edit)

Quote

so if you'll take 1sat/byte as fee

1.5 sat/byte is better

Quote

To get the best possible returns out of your dust, you need to wait for a moment when mempool is empty,

you don't need to wait, you can send it anytime and it will stay in the mempool and if dropped out, you just resend it again.

hatshepsut93

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Each output adds 180 bytes of weight to transaction, so if you'll take 1sat/byte as fee (which might get rejected after hanging for some very long time), you'll get a minimum amount that can be moved - 181 satoshi. If you'll use higher fee, you'll have to multiply fee/byte and 180 bytes to get a new minimum amount.
To get the best possible returns out of your dust, you need to wait for a moment when mempool is empty, you can track it here: https://blockchain.info/charts/mempool-size
Recently there was such opportunity during BCH hard fork, and you could have moved your dust just for 1 satoshi per byte. In the future there might be a new opportunity when SegWit will get activated, or before November hard fork.

Quote from: PilotofBTC on August 09, 2017, 06:36:14 PM

Quote from: Xavofat on August 09, 2017, 05:52:55 PM

If you look on the right, you'll see the estimated delay for each fee that you pay. Currently, I'm seeing that you can pay 20-60 satoshi/byte and still expect your transaction to confirm in about a day most of the time.

Thanks, I'll try that. There's no hurry to move this, so I can wait a day or so.

If you want to get good rate (i.e. extracting 25 mBTC out of 30), you'll have to wait much longer, a few weeks maybe.

Topic: Can I do anything about my dust? (Read 1044 times)