Is there a new policy on miner's fee? - page 2.

odolvlobo

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Quote from: Starlight2 on April 24, 2017, 02:23:40 AM

Thanks everyone, at least I'm receiving answers that doesn't seem automated. Here's the transaction id
https://blockchain.info/tx/2dbee10d35da22a63ed027d8ed30cca513cc264d3f13af08f1a8f2c8d4ea8f12
Hoping for more answers

It's not clear to me what additional answers you are looking for, but given the size of your transaction, a $4 fee is not unexpected.

One of the drawbacks of the 1 MB limit, and the rise in transaction fees that it has caused, is that a large number of people have bitcoins that are now effectively unspendable.

When looking at your transaction, I see several outputs whose values are less than the cost to spend them. You paid 85 s/B, so each input cost you 0.000126 BTC (0.00000085 x 148 bytes).

jakelyson

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Quote from: Starlight2 on April 24, 2017, 02:23:40 AM

Thanks everyone, at least I'm receiving answers that doesn't seem automated. Here's the transaction id
https://blockchain.info/tx/2dbee10d35da22a63ed027d8ed30cca513cc264d3f13af08f1a8f2c8d4ea8f12

Hoping for more answers

They were right, you have accumulated a lot of dust inputs making your transaction quite large. You have an input size of 3910 bytes and you just paid 85 sats per bytes. In todays standard, you should atleast pay 160 sats per byte to have a faster confirmation time.

Starlight2

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Quote from: MingLee on April 23, 2017, 01:53:01 PM

Quote from: Starlight2 on April 23, 2017, 01:42:58 PM

I wanted to send $9 worth of bitcoin through my blockchain wallet and was shocked to be charged a $4 miner fee. I adjusted it a bit using advanced send but was sceptical when the familiar message that it might not be confirmed popped up. I didn't want to risk that so i sent it. It still took 21 hours to be confirmed and i raised a ticket when i discovered $0.04 was displayed as miner fee while $13 was deducted for the whole transaction, meaning $4 was charged. Then why the display of $0.04?
I got an apology as reply and explanation that miner's fee are based on file size of the transaction among other factors and not on the actual value of transfer and the appropriate
miner's fee are automatically included based on dynamic fee calculation.
I wasn't satisfied with the explanation and still could not figure out what went wrong. I have never encountered that since I've been sending through blockchain. I wish someone could really explain this.

I don't think there's any new fee or policy being implemented, so I'm surprised that you're experiencing something like this. I'm not entirely sure what it is that could have gone wrong. As for $0.04 being a miner's fee, that would explain the 21 hours it took to confirm the transaction, but I can't figure out how it would deduct $13 and list the miners fee as low as it was.
Blockchain is good about this kind of stuff, could it have been a user setting that you changed that ended up breaking the whole system or something?

Other than my Security settings, i don't really fiddle with any other thing. I'm not that savvy. Even the advanced option i use it with much caution

Starlight2

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Activity: 19

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Thanks everyone, at least I'm receiving answers that doesn't seem automated. Here's the transaction id
https://blockchain.info/tx/2dbee10d35da22a63ed027d8ed30cca513cc264d3f13af08f1a8f2c8d4ea8f12

Hoping for more answers

stompix

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Activity: 2912

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Blackjack.fun

Quote from: Starlight2 on April 23, 2017, 01:42:58 PM

I wanted to send $9 worth of bitcoin through my blockchain wallet and was shocked to be charged a $4 miner fee. I adjusted it a bit using advanced send but was sceptical when the familiar message that it might not be confirmed popped up. I didn't want to risk that so i sent it. It still took 21 hours to be confirmed and i raised a ticket when i discovered $0.04 was displayed as miner fee while $13 was deducted for the whole transaction, meaning $4 was charged. Then why the display of $0.04?
I got an apology as reply and explanation that miner's fee are based on file size of the transaction among other factors and not on the actual value of transfer and the appropriate
miner's fee are automatically included based on dynamic fee calculation.
I wasn't satisfied with the explanation and still could not figure out what went wrong. I have never encountered that since I've been sending through blockchain. I wish someone could really explain this.

Post the txid.

They mentioned the size of the transactions so, how many inputs did you have in you transaction?
If you had collected a lot of "dust" then the fee would indeed be high.

I think I've moved a few mbtc a week ago and it was something like 20 cents for around 20mbtc. With only 2 inputs.

Quote from: audaciousbeing on April 23, 2017, 03:41:13 PM

It seems in actual you are not the only one facing this situation as its general to everyone and unfortunately I don't see what anyone can do about it. When I first started, I have made transfer with less than 50 cents worth of bitcoin last fee months when I tried the same it has risen to about 4 dollars and today, if I am to do the same, it will cost me as much as $12 and there is nothing I can do just to avoid all bit payments in other to reduce costs.

Same for you

.
Can you please post the txid for this 4$ fee?

audaciousbeing

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It seems in actual you are not the only one facing this situation as its general to everyone and unfortunately I don't see what anyone can do about it. When I first started, I have made transfer with less than 50 cents worth of bitcoin last fee months when I tried the same it has risen to about 4 dollars and today, if I am to do the same, it will cost me as much as $12 and there is nothing I can do just to avoid all bit payments in other to reduce costs.

FlamingFingers

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I wish there was a policy on fees, but unfortunately, it's an open market where transactions with high paid fees get accepted first. Although I strongly believe that your transaction fee was too high due to smaller transactions received, I think that your incident's explanation is what BitcoinPanther said above, otherwise it would be really hard to understand.

European Central Bank

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cut and paste the txid and you'll get some answers.

i don't get the 4c display thing, but to pay that much you must have had alot of inputs. the fees have absolutely nothing to do with the value you're sending, only the amount of data in the tx.

avikz

legendary

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21 hours confirmation time seems real absurd, I really am struggling to understand why took this 21 hours to confirm a transaction. The higher fee is required when you combine many small payments in to a bigger payments. That's when it asks for higher fee. I am not aware of any other situation. I hope some experience person will come up with more definite reason for that.

If you are transacting small payments like 9 USD, I suggest you to use coinbase wallet. It will save you on the fees and give you peace of mind. However, coinbase is not recommended for gambling payment at all.

ekoice

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Quote from: MingLee on April 23, 2017, 01:53:01 PM

Quote from: Starlight2 on April 23, 2017, 01:42:58 PM

I wanted to send $9 worth of bitcoin through my blockchain wallet and was shocked to be charged a $4 miner fee. I adjusted it a bit using advanced send but was sceptical when the familiar message that it might not be confirmed popped up. I didn't want to risk that so i sent it. It still took 21 hours to be confirmed and i raised a ticket when i discovered $0.04 was displayed as miner fee while $13 was deducted for the whole transaction, meaning $4 was charged. Then why the display of $0.04?
I got an apology as reply and explanation that miner's fee are based on file size of the transaction among other factors and not on the actual value of transfer and the appropriate
miner's fee are automatically included based on dynamic fee calculation.
I wasn't satisfied with the explanation and still could not figure out what went wrong. I have never encountered that since I've been sending through blockchain. I wish someone could really explain this.

I don't think there's any new fee or policy being implemented, so I'm surprised that you're experiencing something like this. I'm not entirely sure what it is that could have gone wrong. As for $0.04 being a miner's fee, that would explain the 21 hours it took to confirm the transaction, but I can't figure out how it would deduct $13 and list the miners fee as low as it was.
Blockchain is good about this kind of stuff, could it have been a user setting that you changed that ended up breaking the whole system or something?

I too dont understand why it took 21 hours for transaction when its time should be just one hour.s.have already paid $4.Thats really a very high fee.

BitcoinPanther

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Activity: 1918

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Quote from: Starlight2 on April 23, 2017, 01:42:58 PM

I wanted to send $9 worth of bitcoin through my blockchain wallet and was shocked to be charged a $4 miner fee. I adjusted it a bit using advanced send but was sceptical when the familiar message that it might not be confirmed popped up. I didn't want to risk that so i sent it. It still took 21 hours to be confirmed and i raised a ticket when i discovered $0.04 was displayed as miner fee while $13 was deducted for the whole transaction, meaning $4 was charged. Then why the display of $0.04?
I got an apology as reply and explanation that miner's fee are based on file size of the transaction among other factors and not on the actual value of transfer and the appropriate
miner's fee are automatically included based on dynamic fee calculation.
I wasn't satisfied with the explanation and still could not figure out what went wrong. I have never encountered that since I've been sending through blockchain. I wish someone could really explain this.

Can you show the link of the transaction ID here? There maybe a fault at their end or they charged you a $4 as processing fee where $0.04 as transaction fee is included. Processing fee and transaction fee is different since processing fee goes to the company processing the withdrawal and the transaction fee goes to the miner for confirmation. That pretty much sums the charges of blockchain wallet.

Quote from: Qartada on April 23, 2017, 01:45:20 PM

Your problem is probably that you have accepted many different micropayments from faucets and that high amount of inputs is preventing you from being able to send a transaction with normal fees.

This is not the issue here because if it came from different micro payments, the fee should have adjusted itself and not that $0.04. It is clear that someone is exploiting the fee.

edit: added a reaction to someone's post

MingLee

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Quote from: Starlight2 on April 23, 2017, 01:42:58 PM

I wanted to send $9 worth of bitcoin through my blockchain wallet and was shocked to be charged a $4 miner fee. I adjusted it a bit using advanced send but was sceptical when the familiar message that it might not be confirmed popped up. I didn't want to risk that so i sent it. It still took 21 hours to be confirmed and i raised a ticket when i discovered $0.04 was displayed as miner fee while $13 was deducted for the whole transaction, meaning $4 was charged. Then why the display of $0.04?
I got an apology as reply and explanation that miner's fee are based on file size of the transaction among other factors and not on the actual value of transfer and the appropriate
miner's fee are automatically included based on dynamic fee calculation.
I wasn't satisfied with the explanation and still could not figure out what went wrong. I have never encountered that since I've been sending through blockchain. I wish someone could really explain this.

I don't think there's any new fee or policy being implemented, so I'm surprised that you're experiencing something like this. I'm not entirely sure what it is that could have gone wrong. As for $0.04 being a miner's fee, that would explain the 21 hours it took to confirm the transaction, but I can't figure out how it would deduct $13 and list the miners fee as low as it was.
Blockchain is good about this kind of stuff, could it have been a user setting that you changed that ended up breaking the whole system or something?

Qartada

hero member

Activity: 546

Merit: 500

There's no policy on miner fees. There's a fee market.

Miners accept the transactions with the highest fees relative to their size (the size being the amount of data not the amount of Bitcoin being transferred).

The size of the transaction can be determined by a number of factors. In my case, I seldom pay fees of over $1 even on moderately large transactions. The reason for that is because I accept fewer transactions.

Your problem is probably that you have accepted many different micropayments from faucets and that high amount of inputs is preventing you from being able to send a transaction with normal fees.

The current recommended transaction fee is 160 satoshi per byte, which shouldn't equal any more than about $0.5 for a normal size transaction, which is why I suspect that your transaction is unusually large. We could confirm this if you posted the transaction ID.

Starlight2

newbie

Activity: 19

Merit: 0

I wanted to send $9 worth of bitcoin through my blockchain wallet and was shocked to be charged a $4 miner fee. I adjusted it a bit using advanced send but was sceptical when the familiar message that it might not be confirmed popped up. I didn't want to risk that so i sent it. It still took 21 hours to be confirmed and i raised a ticket when i discovered $0.04 was displayed as miner fee while $13 was deducted for the whole transaction, meaning $4 was charged. Then why the display of $0.04?
I got an apology as reply and explanation that miner's fee are based on file size of the transaction among other factors and not on the actual value of transfer and the appropriate
miner's fee are automatically included based on dynamic fee calculation.
I wasn't satisfied with the explanation and still could not figure out what went wrong. I have never encountered that since I've been sending through blockchain. I wish someone could really explain this.

Topic: Is there a new policy on miner's fee? - page 2. (Read 1015 times)