Do fees increase with a old wallet ?
I have a old wallet, it has several inputs, the paper wallet contains 0.1 BTC, the fees to move the 0.1BTC is 0.015 Almost $200
When you say "several inputs" do you mean more than just several?? You have dusty inputs, pal. The fees have nothing to do with the age of your wallet, but rather that you have a bunch of inputs that each incur their own fees. More information can be found on this thread:
https://bitcointalksearch.org/topic/edu-faucet-risks-1044399But here is the part I wanted to share with you. Pay attention to the part that I've
bolded in red:
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#1 Fees and dusty inputs
The most common problem when using faucets is the small payment. Every time you receive a bitcoin payment to your wallet you have a new input to spend at a later date. Think of this like a lump of bitcoin you can use later. When you later want to use these lumps of bitcoin they need space as part of the transaction your wallet creates for you. This is usually 180 bytes per input. A bigger (in terms of byte) transaction will need more fees in order to be confirmed in a reasonable amount of time. Each block offers only a limited amount of space (currently 1 MB) and if you need a big chunk of the space a big chunk of your available funds will be used as fee for the miners. Faucets try to counter this by creating payout limits, but they are often set very small. A reasonable fee for a transaction with less than 1000 byte in size is 10,000 Satoshi. If the payout limit is 100,000 Satoshi and you try to spend this input, you will have to spend 10% on fees. If you want an example how bad this can end, I helped someone recover from this a while back, in numbers:
~0.5 BTC from faucets, collected over ~2 years, ~2000 inputs, ~350,000 bytes, ~0.09 BTC in fees.
...
Any of this sound familiar? Did you claim on a bunch of faucets before you went inactive?
Same story, different day. I'm also just holding on to my Bitcoin since transaction fees of more than 10% of the actual amount i'm transferring is too much. When will the lightning network be implemented, I wonder?
The Lightning Network is still ages away for implementation, and it may not be the best answer or solution as everyone thinks. The best thing you can do for the time being is to use a Segwit-enabled wallet as Green Address. SegWit transactions are less costly and help decongest the overloaded mempool.
Check out this quote from this reddit post:
https://www.reddit.com/r/Bitcoin/comments/7m2vre/segwit_wallets_are_better_start_using_them/ BTC friends. I'm happy to report more inexpensive transactions using segregated witness enabled Green Address wallet. I just sent from Green Address to a regular Bitcoin paper wallet address using economic mode... the transaction made it inro a block in about 30 to 40 minutes. Please request that all of the wallets and exchanges you use enable segregated witness!
And here's an article written just yesterday about the fees dropping after Segwit adoption:
https://cryptona.co/bitcoin-transaction-fees-dropping-adoption-segwit/
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