Electrum Taking much fees? | Bitcointalksearch.org

sunsilk

hero member

Activity: 3038

Merit: 634

Quote from: bamboylee on August 25, 2017, 04:21:59 PM

Quote from: StrongCore on August 25, 2017, 05:54:47 AM

How that possible to take 131$ fees to send my btc !!!
I will leave this wallet after sending my btc to blockchain.

Do not blame the wallet, it is just giving you an approximate of how much the network transaction cost. You can edit the fee and set it to the minimum if you want, only it will take longer to confirm. Also, your input maybe too large that is why you have large fees.

I understand his stand of paying $131 fee for sending his bitcoin but that is electrum's recommended fees. I'm thinking that this cost the security fee for our bitcoin as an addition fee.

Since blockchain.info's recommended fees are so close to 0.001 BTC and electrum's fee are even higher.

Even you'll adjust the fee to minimum amount still it cost high.

kolloh

legendary

Activity: 1736

Merit: 1023

When using Dynamic Fees, you can just move the slider to the left to lower the fee amount. It could take quite some time to confirm though as the network is quite congested right now.

Hopefully the fees with start to drop soon as it is way to expensive to send bitcoin right now.

bamboylee

hero member

Activity: 1148

Merit: 504

Quote from: StrongCore on August 25, 2017, 05:54:47 AM

Quote from: Swagtoshi on August 24, 2017, 08:13:34 PM

Firstly, bitcoin transaction fees are really high right now (the average fee is $7) so if you set the fee too low, the transaction might get stuck.
https://bitcoinfees.21.co/

Anyways, if you can create your transaction manually by going to https://www.coinb.in/#newTransaction
First, load the address from which you are going to send the coins.
Then, enter the outputs. One of the outputs can be your own address.
The difference between the inputs and the outputs are the fees.

After you submitted the transaction, go to electrum's console (view => show console)
and put in this code:

Code:

signtransaction("rawtransactiongoeshere")

Finally, copy the numbers after the "hex" and put it in this code:

Code:

broadcast("hexcodegoeshere")

Please not. that you might have to set a password to your wallet for this function to work. At least I haven't gotten certain functions to work without setting a password. https://bitcointalksearch.org/topic/unable-to-use-getprivatekeys-after-updating-2100858

How that possible to take 131$ fees to send my btc !!!
I will leave this wallet after sending my btc to blockchain.

Do not blame the wallet, it is just giving you an approximate of how much the network transaction cost. You can edit the fee and set it to the minimum if you want, only it will take longer to confirm. Also, your input maybe too large that is why you have large fees.

reee

sr. member

Activity: 439

Merit: 252

Get Paid to Play your Media on Current

tools --> preferences --> edit fees manually

this way you can choose a lower fee, but it may take many time to confirm

TrumpD

sr. member

Activity: 602

Merit: 265

The fees are too high at the moment, I wonder why? From reasonable fees to scammy fees and back again. I just spent $2.8 to send 30 bucks. The problem with this is that my transaction is not confirming as I used the lowest possible fees on mycelium android wallet.

StrongCore

newbie

Activity: 42

Merit: 0

Quote from: HCP on August 25, 2017, 07:09:24 AM

It isn't the wallet... It is the Bitcoin network.

It is full of unconfirmed transactions again... So recommended fees have increased to 450-500+ sats/byte... https://bitcoinfees.21.co

This means that even a basic transaction that only has 1 input and 1 output+1 change address (226 bytes) will need a fee of over 100,000 sats to be mined in a reasonable time.

If your fee was close to 0.025 then chances are you were using a LOT of inputs (received a lot of small payments?) Which would make your transaction size larger which results in larger fees.

You can switch off dynamic fees and set the fee manually, but then you run the risk of your transaction getting stuck due to low fee.

It's quite likely that any other wallet would probably have charged something similar (or used a low fee and your transaction might not get confirmed for hours/days)

received a lot of small payments?

A: Yea I have many of small payments

You can switch off dynamic fees and set the fee manually

A: Yea I have used it now and I have changed it to 28$ Fees
http://prntscr.com/gcwhwo

28$ fees is good?

HCP

legendary

Activity: 2086

Merit: 4361

It isn't the wallet... It is the Bitcoin network.

It is full of unconfirmed transactions again... So recommended fees have increased to 450-500+ sats/byte... https://bitcoinfees.21.co

This means that even a basic transaction that only has 1 input and 1 output+1 change address (226 bytes) will need a fee of over 100,000 sats to be mined in a reasonable time.

If your fee was close to 0.025 then chances are you were using a LOT of inputs (received a lot of small payments?) Which would make your transaction size larger which results in larger fees.

You can switch off dynamic fees and set the fee manually, but then you run the risk of your transaction getting stuck due to low fee.

It's quite likely that any other wallet would probably have charged something similar (or used a low fee and your transaction might not get confirmed for hours/days)

StrongCore

newbie

Activity: 42

Merit: 0

Quote from: Swagtoshi on August 24, 2017, 08:13:34 PM

Firstly, bitcoin transaction fees are really high right now (the average fee is $7) so if you set the fee too low, the transaction might get stuck.
https://bitcoinfees.21.co/

Anyways, if you can create your transaction manually by going to https://www.coinb.in/#newTransaction
First, load the address from which you are going to send the coins.
Then, enter the outputs. One of the outputs can be your own address.
The difference between the inputs and the outputs are the fees.

After you submitted the transaction, go to electrum's console (view => show console)
and put in this code:

Code:

signtransaction("rawtransactiongoeshere")

Finally, copy the numbers after the "hex" and put it in this code:

Code:

broadcast("hexcodegoeshere")

Please not. that you might have to set a password to your wallet for this function to work. At least I haven't gotten certain functions to work without setting a password. https://bitcointalksearch.org/topic/unable-to-use-getprivatekeys-after-updating-2100858

How that possible to take 131$ fees to send my btc !!!
I will leave this wallet after sending my btc to blockchain.

sunsilk

hero member

Activity: 3038

Merit: 634

Quote from: StrongCore on August 24, 2017, 05:14:07 PM

Hi,

I have use Electrum 2.8.2 and Want to take 130$ fees when I going to send 1450, So letting me to send 1315 Only

How?!!!

I just got a transaction on it and paid almost $20 for it well I don't have choice because I need to cash out today.

But it seems that my transaction get stuck, yeah take note it is not on the maximum fee.

Transaction nowadays aren't the same as before, they are increasing as the price of bitcoin is increasing too. Miners are jumping to BCH so we are experiencing this.

Swagtoshi

full member

Activity: 261

Merit: 102

Firstly, bitcoin transaction fees are really high right now (the average fee is $7) so if you set the fee too low, the transaction might get stuck.
https://bitcoinfees.21.co/

Anyways, if you can create your transaction manually by going to https://www.coinb.in/#newTransaction
First, load the address from which you are going to send the coins.
Then, enter the outputs. One of the outputs can be your own address.
The difference between the inputs and the outputs are the fees.

After you submitted the transaction, go to electrum's console (view => show console)
and put in this code:

Code:

signtransaction("rawtransactiongoeshere")

Finally, copy the numbers after the "hex" and put it in this code:

Code:

broadcast("hexcodegoeshere")

Please not. that you might have to set a password to your wallet for this function to work. At least I haven't gotten certain functions to work without setting a password. https://bitcointalksearch.org/topic/unable-to-use-getprivatekeys-after-updating-2100858

StrongCore

newbie

Activity: 42

Merit: 0

Hi,

I have use Electrum 2.8.2 and Want to take 130$ fees when I going to send 1450, So letting me to send 1315 Only

How?!!!

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