Topic: How many times for a very big amount of bitcoin (Read 653 times)
You're right, I'm thinking of a simple transaction but with 2000BTC it's very likely that it would be a complex one.
If I needed to transfer 2000 BTC I would use a higher than necessary fee, something like 0.005 BTC. It would confirm very quickly and still have cost only 0,00025% of the sum. Not even 15 bucks to transfer more than 5 millions USD !
Not necessarily... the total fee amount is generally irrelevant to confirmation time... it is the sats/byte (or BTC/kB) value of the fee that determines the likelihood of your transaction being confirmed by a miner...while 0.005 BTC seems like a lot... if your 2000 BTC transaction has 100 inputs and the transaction size is ~14,800 bytes... your effective fee is 500,000 / 14,800 = 33.78 sats/byte... which is going to get stuck for days. I could send a 0.1 BTC transaction with only 1 input with a 0.0007 fee and get it confirmed faster.
People need to stop looking at total fee and be more aware of sats/byte fee rate...
If I needed to transfer 2000 BTC I would use a higher than necessary fee, something like 0.005 BTC. It would confirm very quickly and still have cost only 0,00025% of the sum. Not even 15 bucks to transfer more than 5 millions USD !
Thank you all.
Some others questions.
1) So you confirm, there is no delay difference between sending a small or a big amount of bitcoin?
2) It's the fees that make the difference!?
3) The fees is not amount depending ?
4) What is a correct fees actually?
5) What kind of transactions need to be online all the time?
Thank you all for your help...
Much better to check it here https://bitcoinfees.21.co you can see the chart there and learn about the fee.. Some others questions.
1) So you confirm, there is no delay difference between sending a small or a big amount of bitcoin?
2) It's the fees that make the difference!?
3) The fees is not amount depending ?
4) What is a correct fees actually?
5) What kind of transactions need to be online all the time?
Thank you all for your help...
For me my default fee if you are using wallet like electrum i set my fee per kb is 0.002 this is my own fee so far my transaction it takes minutes or hour after broadcast.
If you are halving a delayed transaction or stuck transaction you may also try to use this Bitcoin transaction accelerator
Where you can accelerate your stuck transaction or delayed transaction..
The fees is not stable every time the fee is changing so better to check in time to time bitcoinfees.21.co
1) So you confirm, there is no delay difference between sending a small or a big amount of bitcoin?
2) It's the fees that make the difference!?
The size of the transaction in terms of the Bitcoin does not affect the speed. However, the size of the transaction fee with respect to the transaction size will matter. The miners will prefer to include those with a higher fee/byte first. This helps to ensure that they use the space in the limited 1MB block efficiently and control the spam.2) It's the fees that make the difference!?
3) The fees is not amount depending ?
Yup.4) What is a correct fees actually?
It varies according to the network condition. As said, there is a limited number of transactions the miners can include in a block. The more transactions with a higher fee than you, the longer your transaction may take to confirm since they will select those transactions first. Once the block is filled, you will have to wait for the next block for a possible confirmation. Generally, a client like Bitcoin Core and Electrum has automatic fees to help you to determine the best fee according to the speed you want it to confirm. This is known as dynamic fee or floating fee.You can also see the fees/byte to pay at bitcoinfees.21.co and input the value into your client.
5) What kind of transactions need to be online all the time?
Once you make the transaction, you can switch your computer off. When a transaction is made, the transaction is broadcasted and propagated throughout the network. Once the miners have seen it, they will consider including it in their block.
Thank you all.
Some others questions.
1) So you confirm, there is no delay difference between sending a small or a big amount of bitcoin?
2) It's the fees that make the difference!?
3) The fees is not amount depending ?
4) What is a correct fees actually?
5) What kind of transactions need to be online all the time?
Thank you all for your help...
Some others questions.
1) So you confirm, there is no delay difference between sending a small or a big amount of bitcoin?
2) It's the fees that make the difference!?
3) The fees is not amount depending ?
4) What is a correct fees actually?
5) What kind of transactions need to be online all the time?
Thank you all for your help...
Hello all.
I'm newbee in bitcoin.I'm working for lawyers and they ask me a question...
How many times to send a very big amount of bitcoin (2000) from one account to another?
Can I power off the computer without waiting for the transaction confirmation?
Thank you.
If you transfer coins from one wallet to another, you don't need to be online for the transactions to be confirmed once you have transacted. Just sit back and chill. I'm newbee in bitcoin.I'm working for lawyers and they ask me a question...
How many times to send a very big amount of bitcoin (2000) from one account to another?
Can I power off the computer without waiting for the transaction confirmation?
Thank you.
The time depends on your fee. Higher fee = faster confirmation. Lower fee = slower confirmation.
In general, once the transaction is broadcasted, you don't need your computer on.
How long depends on included fee / ( inputs + outputs ).
If done correctly, a few minutes to an hour.
How long depends on included fee / ( inputs + outputs ).
If done correctly, a few minutes to an hour.
Hello all.
I'm newbee in bitcoin.I'm working for lawyers and they ask me a question...
How many times to send a very big amount of bitcoin (2000) from one account to another?
Can I power off the computer without waiting for the transaction confirmation?
Thank you.
I'm newbee in bitcoin.I'm working for lawyers and they ask me a question...
How many times to send a very big amount of bitcoin (2000) from one account to another?
Can I power off the computer without waiting for the transaction confirmation?
Thank you.
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