Confirmation Time..? | Bitcointalksearch.org

ivanst776

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Quote from: 20kevin20 on October 04, 2016, 04:19:59 PM

Hello!

Okay so I had to do a few transactions from my Blockchain wallet to some other wallets, and I have a question: as soon as I send an amount of money, it requires me to send a fee of 0.008BTC. Is this even normal? My highest fee I had to send because of the fear of never getting it confirmed was 0.001 about one month ago. I had to send over 10 transactions of the same amount, which means 0.01BTC lost already in fees. I don't think it's fair, and I'd like to know..... Would a transaction with 10k satoshis ever get confirmed? I'd go for it but I'm too scared.

Thank you, everyone!

From my experience this is not normal because paying 0.008 BTC is very high for a normal transactions < 300-500 bytes.

Normally the fees are 0.0001 or 0.0002 but anything above 0.0005 I consider really high, if you know the size of the transaction then you can calculate yourself.

MingLee

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Quote from: vero on October 05, 2016, 03:01:46 PM

Quote from: 20kevin20 on October 04, 2016, 04:19:59 PM

Hello!

Okay so I had to do a few transactions from my Blockchain wallet to some other wallets, and I have a question: as soon as I send an amount of money, it requires me to send a fee of 0.008BTC. Is this even normal? My highest fee I had to send because of the fear of never getting it confirmed was 0.001 about one month ago. I had to send over 10 transactions of the same amount, which means 0.01BTC lost already in fees. I don't think it's fair, and I'd like to know..... Would a transaction with 10k satoshis ever get confirmed? I'd go for it but I'm too scared.

Thank you, everyone!

a little confused with your have experienced, it is a very large fee. I always get a confirmation quickly and no later than one day with only charged to send 0.0001btc. you need change the wallet address looks like have some problem.

It could just be that the wallet is inflating the fee numbers based on some numbers that the wallet is getting from the rest of the blockchain, and there is no issue with the wallet itself. It can just be the numbers being off, and not a whole lot more than that. I agree, the fees he's paying are insane and I rarely spend anything like that.

vero

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Quote from: 20kevin20 on October 04, 2016, 04:19:59 PM

Hello!

Okay so I had to do a few transactions from my Blockchain wallet to some other wallets, and I have a question: as soon as I send an amount of money, it requires me to send a fee of 0.008BTC. Is this even normal? My highest fee I had to send because of the fear of never getting it confirmed was 0.001 about one month ago. I had to send over 10 transactions of the same amount, which means 0.01BTC lost already in fees. I don't think it's fair, and I'd like to know..... Would a transaction with 10k satoshis ever get confirmed? I'd go for it but I'm too scared.

Thank you, everyone!

a little confused with your have experienced, it is a very large fee. I always get a confirmation quickly and no later than one day with only charged to send 0.0001btc. you need change the wallet address looks like have some problem.

socks435

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Never experience yet to pay that amount as fee.. what wallet did you use op?
MAybe you need to try to chance the settings sat per kb and i think if you change that you wil lthe result if you are using electrum..

veleten

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Quote from: BingoDog on October 05, 2016, 02:13:09 PM

Strange, I've never faced so high fees. Is it maybe possible to set it manualy? Did you send some very large amount so the fee was that high? Or maybe you have chosen the fastest option for sending? If those werenot the reasons maybe you could think to change the wallet.

ha, you should see how much does the blockchain.info wallet want me to send as tx fee for a 0.01-0.05 btc transaction by default
it could be anything between 0.0005 and 0.002 i.e. 50-200k satoshi and it is a ridiculous 3-20% of the total amount sent
I set it manually,of course,range 10-30k depending on how fast I want it ,never had any issue or waited for hours for it to confirm

BingoDog

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Strange, I've never faced so high fees. Is it maybe possible to set it manualy? Did you send some very large amount so the fee was that high? Or maybe you have chosen the fastest option for sending? If those werenot the reasons maybe you could think to change the wallet.

xdrpx

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That's a pretty high fees there, but then you haven't shared how much you've actually transacted. The fees depend on the bytes per transaction and the most efficient fee can be determined by going to the 21 co's bitcoinfees website. It'll help you manually set the Bitcoin fees if you're using a wallet like Electrum. This could be probably because miners now have priority over higher fee transactions or if the blocks are filled a lot.

samcoin

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Quote from: 20kevin20 on October 04, 2016, 04:19:59 PM

Hello!

Okay so I had to do a few transactions from my Blockchain wallet to some other wallets, and I have a question: as soon as I send an amount of money, it requires me to send a fee of 0.008BTC. Is this even normal? My highest fee I had to send because of the fear of never getting it confirmed was 0.001 about one month ago. I had to send over 10 transactions of the same amount, which means 0.01BTC lost already in fees. I don't think it's fair, and I'd like to know..... Would a transaction with 10k satoshis ever get confirmed? I'd go for it but I'm too scared.

Thank you, everyone!

You can avoid paying high fees by using exchanges wallets, because the withdraw fee is fixed, I know it is risky to keep your money in exchanges wallet, but if you are a trader, you should keep some of your money there, for example: Poloniex fee is 10k sat for any transaction, I think if you know how to manage your funds, you wo'nt pay high fees.

goinmerry

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Quote from: 20kevin20 on October 04, 2016, 04:19:59 PM

Hello!

Okay so I had to do a few transactions from my Blockchain wallet to some other wallets, and I have a question: as soon as I send an amount of money, it requires me to send a fee of 0.008BTC. Is this even normal? My highest fee I had to send because of the fear of never getting it confirmed was 0.001 about one month ago. I had to send over 10 transactions of the same amount, which means 0.01BTC lost already in fees. I don't think it's fair, and I'd like to know..... Would a transaction with 10k satoshis ever get confirmed? I'd go for it but I'm too scared.

Thank you, everyone!

It is offering you the fastest way but the fee is higher. You can lower it down but it will take some time. If you got patience or the one you are sending it too have patience to wait then it wont be a problem. It will be sent, they cant rob you just like that.

Jhanzo

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Quote from: bitbunnny on October 05, 2016, 10:22:24 AM

I'm using Blockchain wallet and sending coins from it but I haven't noticed that the fees are so high. If this is the case then it has to be some reason for it. Maybe you've chosen the high priority protocol and that is the reason for high fee. If you are sure this is not the typo.

High priority protocol? How do I do that? Can't find it anywhere.

bitbunnny

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I'm using Blockchain wallet and sending coins from it but I haven't noticed that the fees are so high. If this is the case then it has to be some reason for it. Maybe you've chosen the high priority protocol and that is the reason for high fee. If you are sure this is not the typo.

Yutikas_11920

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Quote from: muhcoins on October 05, 2016, 09:04:24 AM

is this faucet money? because it seems you're having problem with your inputs(faucet pay you with several small transactions). 0.001 is high and 0.008 is absurd...my fee's generally are around 0.0005.

It's a reasonable thing. because he also does something to benefit when we get the faucet from the site. So that any costs that must be removed will not have a good effect for them, because they give the bitcoin. So, better enjoy or find other places that according to us more fun and make concentration

Lauda

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Quote from: Teraboy on October 05, 2016, 08:44:24 AM

recomended fees is always change for everytime? Huh

the current rec fees is 70 sathosi/byte, but should this fees is change for every time?
Like the another thread.

Of course they do. Primarily it comes down to what fees people are including and the amount of transactions that are unconfirmed.

Quote from: eternalgloom on October 05, 2016, 09:51:07 AM

I really think it's just a typo, 0.008 BTC fees is just ridiculous. I use blockchain.info daily and have never encountered such high fees.

It comes down how you look at it. Would you say a ~$5 fee is ridiculous for transferring a few million?

Quote from: eternalgloom on October 05, 2016, 09:51:07 AM

0.0008 BTC on the other hand is happening more frequently, but you can change it with 'advanced send'.

This is very cheap IMO.

eternalgloom

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Quote from: Lauda on October 05, 2016, 01:50:28 AM

Quote from: mindrust on October 04, 2016, 04:24:00 PM

Miners are getting greedy.

This has nothing to do with the miners, ergo they are not getting greedy. Please don't post misleading information.

Quote from: 20kevin20 on October 04, 2016, 04:19:59 PM

Hello!
Okay so I had to do a few transactions from my Blockchain wallet to some other wallets, and I have a question: as soon as I send an amount of money, it requires me to send a fee of 0.008BTC. Is this even normal?

1) Stop using such a stupid wallet.
2) The fee is dependant on the wallet + the transaction size.
3) The fee should be displayed in satoshis/byte for accurate representation (which lets us determine whether it was too high or not.
4) Look at 1.

I really think it's just a typo, 0.008 BTC fees is just ridiculous. I use blockchain.info daily and have never encountered such high fees.
0.0008 BTC on the other hand is happening more frequently, but you can change it with 'advanced send'.

jacktheking

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The wallet that I use mostly have dynamic fees. This feature connects to the Blockchain and automatically select a good amount of fees for me to broadcast my transaction. It also allows me to choose three settings, low-priority, normal and high-priority. I normally choose the normal setting and I never actually care how much the fees is.

Most 'modern' (as in, new) wallet software should also come with this features. I believe this is the feature that you wallet have.

muhcoins

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is this faucet money? because it seems you're having problem with your inputs(faucet pay you with several small transactions). 0.001 is high and 0.008 is absurd...my fee's generally are around 0.0005.

Teraboy

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Quote from: Lauda on October 05, 2016, 02:33:16 AM

Quote from: Wind_FURY on October 05, 2016, 02:21:22 AM

So what would the average fee be in satoshis per byte?

Quote

The fastest and cheapest transaction fee is currently 60 satoshis/byte, shown in green at the top.

Data queried at time of writing this post.

recomended fees is always change for everytime? Huh

the current rec fees is 70 sathosi/byte, but should this fees is change for every time?
Like the another thread.

https://bitcointalksearch.org/topic/how-long-it-might-take-to-confirm-the-following-transactions-1636226
https://bitcoinfees.21.co/

Ryananda

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I do not know why you accepted the cost is immense. I myself never get the charge of it because of the fees charged to me very little. I do not know how it could happen that obviously I think it is not fair Huh

Lauda

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Quote from: Wind_FURY on October 05, 2016, 02:21:22 AM

So what would the average fee be in satoshis per byte?

Quote from: Wind_FURY on October 05, 2016, 02:21:22 AM

I believe all of the wallets whether it is offline or a webwallet would let the user choose how much you want to pay in transaction fees.

This is not the case.

Quote from: Wind_FURY on October 05, 2016, 02:21:22 AM

So it would be unfair to even suggest for the OP to stop using blockchain.info.

No, it is not unfair. Any experienced Bitcoin user will tell you to stay away from online wallets.

Wind_FURY

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Quote from: Lauda on October 05, 2016, 01:50:28 AM

3) The fee should be displayed in satoshis/byte for accurate representation (which lets us determine whether it was too high or not.

So what would the average fee be in satoshis per byte? I believe all of the wallets whether it is offline or a webwallet would let the user choose how much you want to pay in transaction fees. So it would be unfair to even suggest for the OP to stop using blockchain.info. I know they have had their problems in the past but to be fair they also have been offering a decent and convenient service for small transactions.

Topic: Confirmation Time..? (Read 1210 times)