Author

Topic: How to calculate transaction fee? (Read 223 times)

full member
Activity: 478
Merit: 113
October 30, 2017, 02:01:43 PM
#3
Wiki says bitcoin transaction fee calculated by xBTC/kb, I was wondering if transact 100BTC and transact 1BTC will use the same bytes or different bytes?

it all depends on how the balance of our BTC has been received. If you receive, let's say, 1BTC in one single transaction and then at some point in the future you want to spend that 1 BTC you would pay much less fee than if it was made of 25 transactions of BTC 0.04 each.

That's because one transaction would have only one entry in the blockchain as opposed to 25 different smaller ones... So, it's not the amount in itself but rather how many blocks/transactions constitute the amount that we want to send.
staff
Activity: 3500
Merit: 6152
October 30, 2017, 12:41:34 PM
#2
The amount of the transaction is not needed in order to calculate the fees. In fact, sending 1 BTC could cost you less money If the 100 BTC you're trying to send was received in multiple small payments. A detailed explanation: https://support.earn.com/bitcoin/transactions-and-fees/how-do-i-calculate-my-transaction-fee
newbie
Activity: 46
Merit: 0
October 30, 2017, 10:00:04 AM
#1
Wiki says bitcoin transaction fee calculated by xBTC/kb, I was wondering if transact 100BTC and transact 1BTC will use the same bytes or different bytes?
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