Topic: How much Fees to instant sent a bitcoin transaction? - page 2. (Read 1649 times)

Thanks alot Senpai!

Therefore in this case

https://blockchain.info/tx/d7652107b39154b6cb15a81ef2ed081db35d0700e3ce68217961cfa452359b12

136qWTQMGDH5iyKBrgRe7FvavHmvPyXuoC >
14Sdg5cB1iTQrLSd7f2pVSKmoAXmSYvJxD $ 36.27
1MdmfFL3TU37Ds1pjivW4kDDZWxrkcbfw3 $ 52.21

The transaction goes from The First transaction where it sent to the address 14Sdg5cB1iTQrLSd7f2pVSKmoAXmSYvJxD $36.27 , and then it sent the leftover back to 1MdmfFL3TU37Ds1pjivW4kDDZWxrkcbfw3 $ 52.21 as thats the balance of $88 - the initial $36.27

Therefore in this case

It creates 2 transaction?

1) 136qWTQMGDH5iyKBrgRe7FvavHmvPyXuoC > 14Sdg5cB1iTQrLSd7f2pVSKmoAXmSYvJxD $ 36.27
2) 136qWTQMGDH5iyKBrgRe7FvavHmvPyXuoC >1MdmfFL3TU37Ds1pjivW4kDDZWxrkcbfw3 $ 52.21

Am i right? Or kinda near to it? Thanks alot!

It isn't the amount of BTC transferred that makes the fee big or small, it's the amount of inputs and outputs of a transaction.
For example:
you have the private key for address AAAAAAAAAAAAAAA and BBBBBBBBBBBBBBBB.
I create 10 transactions, each one having one 1 BTC output to AAAAAAAAAAAAA.
In the meantime, i also generate 1 transation having one 10 BTC output to BBBBBBBBBBB.

If you want to use the 10 inputs to AAAAAAAAAA to send 10 BTC to a friend, your fees will be much higher than when you would use 1 input of address BBBBBBBBBBB


Why?
Because when creating a transaction in the first case (using 10 inputs), the transaction will basically say (very simplified):
- use input 1 of 1 BTC
- use input 2 of 1 BTC
- use input 3 of 1 BTC
- use input 4 of 1 BTC
- use input 5 of 1 BTC
- use input 6 of 1 BTC
- use input 7 of 1 BTC
- use input 8 of 1 BTC
- use input 9 of 1 BTC
- use input 10 of 1 BTC
- create output 1  of 10 BTC

In the second case, your transaction will say
- use input 1  of 10 BTC
- create output 1  of 10 BTC

You clearly notice the transaction in the second case has much less bytes... The fee is calculated in satoshi per byte...

To answer your question: it's impossible to tell you how much fees to add to a transaction without knowing how many inputs you'll use, and how many outputs there will be... $0.1 might be enough to send $1000.000 in BTC, while $1 might be insufficient to send $5.

most wallets set an automatic fee that should be high enough to get confirmations within the next 1-3 blocks. the important thing is to see the fees related to the transaction size in kb and not related to the amount or value send.

Somehow it's kinda annoying when the transaction takes really long

I use blockchain wallet, i put the amount of fee as high as i can, then it lower down to the minimum amount where it will sent within ~10minute.

But still after half and hour, still 0 confirmation.

Just wanted to check out, how does the miner fee work?

I mean everything in blockchain is automated

So if i sent $10, with Fees $1, it will be instant transfer?

So if i sent like $5000, i will need very big fees for the process to be faster? Or there's a fix amount of fees for instant process

Thanks!