I am trying to change wallets from GreenAddress to Trezor. I have updated the miner with the new BTC address and am now ready to transfer my BTC funds from GreenAddress to Trezor. When I started the process I was shocked to see a .01675051 Transaction Fee to transfer only .10899048 BTC.
I found this thread on the subject
https://bitcointalk.org/index.php?topic=1476536.0;all which basically says auto calculated fees are a joke on GreenAddress and to chose my own fees. I found that fees are based on transaction size but I am unsure how to find the size of the transaction.
So now is where I need smarter peoples help.
I am in no hurry, however I would like the transfer to be completed before the upcoming fork, so I am cool with a slowerish confirmation time. If I choose 0 for the fee on GreenAddress it gives a warning stating the fee rate is too low and the minimum rate was used of .00001 BTC which makes my total fee .000084360 BTC
Is this a good fee size? Will a fee of this size get my transaction processed? If so what would be an expected turn around time for confirmations?
As my status says I am a newbie so please go easy on me with replies.
The important point is the size of the transaction.
The number of inputs decides that.
You can check your addresses on blocktrail.com to see how many unspent inputs each address has that you are consolidating
To get the idea of the size of a transaction, simply look at any recent block and look at the transactions in it and the size of those transactions.
Each transaction will show the number of inputs and the number of outputs.
I presume you are consolidating to one address, so look for transactions that only have one or two outputs.
If you can find one with, say, 10 inputs, and you are making one with 50 inputs, then you can guess your transaction will be (very roughly) 5 times the size of that.
At the moment, block rewards are pretty high, so fees are pretty high.
Easiest to just look at btc.com and check the last 40 or 50 blocks to see if the block rewards are averaging under 13 (very low), always under 14 (not high), some going over 14 (high), lots over 15 (very high)
btc.com also shows on the main page a Current best transaction fees 0.0004 BTC/KB
This will give you an idea of how long it will take to confirm.
It's all actually guess work, but that should help make a more educated guess
