The recommended transaction fee depends on a number of factors, basically number of inputs (which make up the bulk of a transaction's size) and age of the source transactions (when they are sufficiently old, then zero-fee works well).
In general, transactions without fee might eventually get processed but it can take a longer time, as miners would prefer to mine transactions with fees, but they normally include some no-fee transactions in blocks, too.
If you can accept a long transaction time (for example, it you move funds between different wallets of your own, or send a bit to a friend who does not mind if he gets it this week) then you might try to send without a fee. The worst that can happen is that after a long time (on the order of days) your wallet decides that re-broadcasting the transaction is not going to work, and shows its inputs as unspent again.
Onkel Paul
Topic: Help needed for noob please! (Read 1566 times)
Oh okay it makes sense now thank you. One more question, with the transaction fee can I just lower it to nothing or should I leave it? thanks
You probably had your wallet set to show mBTC instead of BTC, and sent 0.216 mBTC (which is incidentically equal to 0.000216 BTC) instead of 0.216 BTC (216 mBTC) to the destination address.
The other amount is so-called "change" and goes to a new address within your wallet (so it's not lost).
Depending on what the recipient expects, you might be able to send the missing amount (215.784 mBTC, which is equal to 0.215784 BTC) to the recipient to complete the payment.
Your best bet is to talk to them first to see whether they will be able to recognize those two payments as one.
Of course, due to this mistake in using the application you will have to pay miner's fee for two transactions instead of just one, but that's a minor loss compared to the one you've initially assumed.
Onkel Paul
The other amount is so-called "change" and goes to a new address within your wallet (so it's not lost).
Depending on what the recipient expects, you might be able to send the missing amount (215.784 mBTC, which is equal to 0.215784 BTC) to the recipient to complete the payment.
Your best bet is to talk to them first to see whether they will be able to recognize those two payments as one.
Of course, due to this mistake in using the application you will have to pay miner's fee for two transactions instead of just one, but that's a minor loss compared to the one you've initially assumed.
Onkel Paul
Thanks for the fast reply.
The id is #b755e9cb9776663382c0b1e9e152dcd2e2ac3b30693804a87503d8be1eb61c2 - As you can see, the first amount of 0.000216 BTC goes to the wallet I want it to go to. The second amount of 0.210671 BTC goes to another wallet which I have no clue about.
If it helps, when I click on transaction details on electrum the 16zeJWT1frcixLxvgeVCnfccg8NNXYKhun wallet is highlighted in yellow in the outputs section.
Thanks very much
The id is #b755e9cb9776663382c0b1e9e152dcd2e2ac3b30693804a87503d8be1eb61c2 - As you can see, the first amount of 0.000216 BTC goes to the wallet I want it to go to. The second amount of 0.210671 BTC goes to another wallet which I have no clue about.
If it helps, when I click on transaction details on electrum the 16zeJWT1frcixLxvgeVCnfccg8NNXYKhun wallet is highlighted in yellow in the outputs section.
Thanks very much
Need TX ID Hash to help you. Is the other address possibly an electrum change address and you sent the wrong amount to the intended recipient. Bitcoin must send entire inputs and difference between the amount you send and the fees goes back to a change address that you own and it becomes a new input for a future transaction.
Hey guys/girls
So basically, I have sent Btc from my electrum wallet to a market place. As I sent the transaction (0.216 btc) I noticed that 0.00002 had gone to the actual wallet i wanted it to, and that the rest had been sent to another wallet. As it had sent there was nothing I could do to reverse this. Can anyone shed some light on how this has happened? have I been scammed by the marketplace, thats what I am thinking has happened... When I look at the transaction there are 2 outputs and the one where the majority of the btc has gone to is highlighted yellow if this helps.
Thanks very much for any advise given.
So basically, I have sent Btc from my electrum wallet to a market place. As I sent the transaction (0.216 btc) I noticed that 0.00002 had gone to the actual wallet i wanted it to, and that the rest had been sent to another wallet. As it had sent there was nothing I could do to reverse this. Can anyone shed some light on how this has happened? have I been scammed by the marketplace, thats what I am thinking has happened... When I look at the transaction there are 2 outputs and the one where the majority of the btc has gone to is highlighted yellow if this helps.
Thanks very much for any advise given.
Jump to: