Author

Topic: Help needed! Transaction fees! (Read 662 times)

legendary
Activity: 3472
Merit: 4801
November 25, 2013, 02:11:53 PM
#3
they all pay out in uBTC. I have over 50 small transactions,all in uBTC. Now,suppose I want to spend this amount,will the transaction fees eat away most of it?

Yes.

And they know this.  They take advantage of uninformed newbies convincing them that their efforts will result in spendable value while hiding from them the fact that a huge portion of that value (many times all of it) will have to be used to pay transaction fees due to the overwhelming number of inputs required to use it.

Meanwhile, newbies see an ever increasing balance and recruit other newbies offering suggestions on how to earn "free bitcoins" with these sites.
full member
Activity: 126
Merit: 100
November 25, 2013, 08:01:45 AM
#2
The below link should help you understand the way fees are calculated.

https://en.bitcoin.it/wiki/Transaction_fees
sr. member
Activity: 308
Merit: 250
November 25, 2013, 07:34:16 AM
#1
Hey everyone,
I have a major question about transaction fees. Now,I've been working endlessly on all sorts of small bitcoin earning sites like bitvisitor,coinads etc. Now,they all pay out in uBTC. I have over 50 small transactions,all in uBTC. Now,suppose I want to spend this amount,will the transaction fees eat away most of it?


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