Topic: fees of Btc (Read 1596 times)
If you're short on cash or you don't need the funds transferred right away, you can sometimes make the transaction without any fees. Personally, I set my fees to 0.0001 BTC per transaction as it's only pennies in today's market anyway.
Around 0.0002BTC is a good fee most of the time. Sometimes up to 0.0005BTC but rarely higher than that.
Yeah man It comes down to how many inputs you're spending and how many outputs the transaction has. It also is important how long the coins have been lying in the address you're spending from! It's a difficult formula, though
i'm a newbie one, may i ask a question, may i know the difficult formula ?
i also confuse to calculate the bitcoinfee ...
hopefully you can help me ..
For free tx, you need to calculate the transaction priority.
https://en.bitcoin.it/wiki/Transaction_fees
Code:
priority = sum(input_value_in_base_units * input_age)/size_in_bytes
For tx fee, you need to calculate the transaction size (general fee is 0.0001 btc per KB).
http://bitcoin.stackexchange.com/questions/1195/how-to-calculate-transaction-size-before-sending
Code:
in*180 + out*34 + 10 plus or minus 'in'
Around 0.0002BTC is a good fee most of the time. Sometimes up to 0.0005BTC but rarely higher than that.
Yeah man It comes down to how many inputs you're spending and how many outputs the transaction has. It also is important how long the coins have been lying in the address you're spending from! It's a difficult formula, though
i'm a newbie one, may i ask a question, may i know the difficult formula ?
i also confuse to calculate the bitcoinfee ...
hopefully you can help me ..
0.2 fees wow, My question is what if i don't include any fess at all 0 fees, Will the bitcoins rolls back to the sender in 24hrs or what?
Haven't don't that ever just curious.
Haven't don't that ever just curious.
It depends on which wallet you are using.
For blockchain.info wallet, yes.
For bitcoin core, no, it will broadcast the unconfirmed transaction again and again.
I also believe that the transaction fees are a bit complicated for the casual user of Bitcoin. It's a good thing the wallets take care of recommending a fee by already, but still users don't exactly get how they're being calculated. And I guess they don't even want to know 
Around 0.0002BTC is a good fee most of the time. Sometimes up to 0.0005BTC but rarely higher than that.
Yeah man It comes down to how many inputs you're spending and how many outputs the transaction has. It also is important how long the coins have been lying in the address you're spending from! It's a difficult formula, though
For detailed and ilustrated explaination of Bitcoin fees, you can visit this site
http://bitcoinfees.com/
http://bitcoinfees.com/
It's a very good site that illustrates the procedure and amounts of fees that apply pretty well. I think the regular person using bitcoin won't want to take care of having to calculate those fees, though so I guess they'll just stick to whatever their Bitcoin client is telling or recommending them as a fee!
For detailed and ilustrated explaination of Bitcoin fees, you can visit this site
http://bitcoinfees.com/
http://bitcoinfees.com/
0.00001 is good enough unless you want it really fast...
What do you mean by really fast? Usually a transaction will be included in the next block that's being mined. Miners can opt to not include your transaction if it has no fee. But if a fee of 0.00001 is enough, a fee of 0.1 or even 10.0 BTC won't make it any faster, you still have to wait for the next block to be mined!
It is recommended to pay a fee of 0.1 mBTC per kB (the size of the transaction as included in a block).
My experience is that often a transaction is included even if you just pay 0.1mBTC regardless of the transaction size (within reasonable limits of course < 10kB).
But it couldn't hurt to stick with 0.1mBTC/kB to stimulate miners to invest and keep the network safe.
My experience is that often a transaction is included even if you just pay 0.1mBTC regardless of the transaction size (within reasonable limits of course < 10kB).
But it couldn't hurt to stick with 0.1mBTC/kB to stimulate miners to invest and keep the network safe.
0.2 fees wow, My question is what if i don't include any fess at all 0 fees, Will the bitcoins rolls back to the sender in 24hrs or what?
Haven't don't that ever just curious.
Haven't don't that ever just curious.
I'm not sure about other wallets but my blochkchain.info wallet sent my coins back to me after 24hours no confirmation.
Just pay the fee 0.05$, it isn't too much.
Never mind i got it. I was just curious if i do what happens i always add the tx fees as per the size.
if anyone wana check that out here's the explanation for it : https://bitcointalk.org/index.php?topic=232979.40
You can set the transaction fee for wharever value you would like, but if you put not fee or less than 0.0001 fee, then your transaction may never be concretized, and messing too much about the fee ammount may lead you to mistakenly send hight ammount, like some users here did.
0.2 fees wow, My question is what if i don't include any fess at all 0 fees, Will the bitcoins rolls back to the sender in 24hrs or what?
Haven't don't that ever just curious.
Haven't don't that ever just curious.
I'm not sure about other wallets but my blochkchain.info wallet sent my coins back to me after 24hours no confirmation.
Just pay the fee 0.05$, it isn't too much.
0.2 fees wow, My question is what if i don't include any fess at all 0 fees, Will the bitcoins rolls back to the sender in 24hrs or what?
Haven't don't that ever just curious.
Haven't don't that ever just curious.
0.00001 is good enough unless you want it really fast...
Around 0.0002BTC is a good fee most of the time. Sometimes up to 0.0005BTC but rarely higher than that.
this was actually my question...
The transaction fee is processed by and received by the bitcoin miner. When a new bitcoin block is generated with a successful hash, the information for all of the transactions is included with the block and all transaction fees are collected by that user creating the block, who is free to assign those fees to himself.
Awesome, glad you figured it out. It's funny, just as you posted this I read another thread where I user payed a 0.2BTC fee by accident. Don't do that
Around 0.0002BTC is a good fee most of the time. Sometimes up to 0.0005BTC but rarely higher than that.
this was actually my question...
The transaction fee is processed by and received by the bitcoin miner. When a new bitcoin block is generated with a successful hash, the information for all of the transactions is included with the block and all transaction fees are collected by that user creating the block, who is free to assign those fees to himself.
Around 0.0002BTC is a good fee most of the time. Sometimes up to 0.0005BTC but rarely higher than that.
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