Topic: Free transactions for output < 0.01 BTC with Bitcoin-Qt 0.8.6 (Read 1476 times)
Kudos to Michagogo for his recent edits of Bitcoin Wiki's Transaction fees that have clearly answered all of my questions. Now I've successfully used raw transaction API to send a 0-fee tx containing a 0.001 BTC output.
Transactions without the minimum fee will not be relayed. They will not be stored in the memory pools of miners. They will not be included in blocks. As they are ignored, a proper fee double-spend transaction will be included promptly.
The minimum fee rules have been simplified in 0.8.6, which is the network majority. A fee is no longer required just because any one output is smaller that 0.01 BTC (dust < 5.6mBTC invalid rule takes care of spam), but the minimum fee is now required for any transaction over 1kB in size. This is in addition to the requirement that input priority less than 57.6M (1 BTC, 144 blocks old; 0.01 BTC ~100 days old) include minimum fee.
The minimum fee rules have been simplified in 0.8.6, which is the network majority. A fee is no longer required just because any one output is smaller that 0.01 BTC (dust < 5.6mBTC invalid rule takes care of spam), but the minimum fee is now required for any transaction over 1kB in size. This is in addition to the requirement that input priority less than 57.6M (1 BTC, 144 blocks old; 0.01 BTC ~100 days old) include minimum fee.
Then, what is it? Please elaborate.
Thank you, michagogo. So this means that I cannot send a 0-fee tx with output < 0.01 BTC with Bitcoin-Qt in the standard way, but I still can do it by using the raw transaction API, right?
Then, what is it? Please elaborate.
Then, what is it? Please elaborate.
I understand that Bitcoin-Qt 0.8.6 allows you to send < 0.01 BTC with 0 tx fee. After upgrading to this latest version, I tried to send something smaller than 0.01 BTC (but far above the dust level and with high enough priority) without tx fee in a normal way, but I couldn't do it. What should I do to fix this? Or, am I misunderstanding something?
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