Lower tx fee, but still doable? | Bitcointalksearch.org

shorena

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No I dont escrow anymore.

Quote from: opossum on October 27, 2014, 04:50:18 AM

Quote from: p2pbucks on October 26, 2014, 08:27:24 AM

Quote from: shorena on October 26, 2014, 02:33:02 AM

Quote from: p2pbucks on October 26, 2014, 02:23:35 AM

now you need to pay btc tx fee 0.0001BTC per KB . The normal tx (one input ,two output ) size is about 250 byte which means 0.000025 is enough .

Where did you get that idea? As far as I am aware you are not paying per byte, but per started KB.

https://blockchain.info/tx/7a93326382285875f396358ea94778147e2ccdc8faab568e89aec445f08fa582

check this , 259 bytes tx 0.00003 BTC tx fee . it works Grin

Just because a TX confirmed, does not mean that the miners will accept .00003 as an acceptable TX fee for that size of a TX. It is plausible (and likely) that the TX would have been confirmed without any fee attached.

You should remember that a too small of a TX fee is generally treated the same as a no TX fee TX by the miners

Very likely indeed as the input used was ~4 months old.

opossum

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Quote from: p2pbucks on October 26, 2014, 08:27:24 AM

Quote from: shorena on October 26, 2014, 02:33:02 AM

Quote from: p2pbucks on October 26, 2014, 02:23:35 AM

now you need to pay btc tx fee 0.0001BTC per KB . The normal tx (one input ,two output ) size is about 250 byte which means 0.000025 is enough .

Where did you get that idea? As far as I am aware you are not paying per byte, but per started KB.

https://blockchain.info/tx/7a93326382285875f396358ea94778147e2ccdc8faab568e89aec445f08fa582

check this , 259 bytes tx 0.00003 BTC tx fee . it works Grin

Just because a TX confirmed, does not mean that the miners will accept .00003 as an acceptable TX fee for that size of a TX. It is plausible (and likely) that the TX would have been confirmed without any fee attached.

You should remember that a too small of a TX fee is generally treated the same as a no TX fee TX by the miners

p2pbucks

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Evolution is the only way to survive

Quote from: shorena on October 26, 2014, 02:33:02 AM

Quote from: p2pbucks on October 26, 2014, 02:23:35 AM

now you need to pay btc tx fee 0.0001BTC per KB . The normal tx (one input ,two output ) size is about 250 byte which means 0.000025 is enough .

Where did you get that idea? As far as I am aware you are not paying per byte, but per started KB.

https://blockchain.info/tx/7a93326382285875f396358ea94778147e2ccdc8faab568e89aec445f08fa582

check this , 259 bytes tx 0.00003 BTC tx fee . it works Grin

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: p2pbucks on October 26, 2014, 02:23:35 AM

now you need to pay btc tx fee 0.0001BTC per KB . The normal tx (one input ,two output ) size is about 250 byte which means 0.000025 is enough .

Where did you get that idea? As far as I am aware you are not paying per byte, but per started KB.

p2pbucks

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Evolution is the only way to survive

now you need to pay btc tx fee 0.0001BTC per KB . The normal tx (one input ,two output ) size is about 250 byte which means 0.000025 is enough .

side39

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The transaction cost is relatively large, if the people that you will send their BTC are so many.

btc-facebook

legendary

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Quote from: fa on October 25, 2014, 05:35:32 AM

Quote from: Q7 on October 25, 2014, 02:09:38 AM

It can be done if you use electrum whereby it allows you to use the CSV import feature to make mass payment. This is similar like what all the faucet sites do to perform payout. The current version of electrum has been improved to make this easier

Thanks guys!
From blockchain.info I looked up a lot of transactions and found various fee value attached from 0~0.005.
Tried to send with lower fee and it's accepted by miner with no problem.
Maybe I'll try electrum.

This answer is actually not correct.

If the TX fee that you give is too small then your TX will be generally considered (by most pools) to not include a fee at all. So if you are going to make a TX with a fee of a lot less then .0001 (you might be able to get away with .00005, but probably not)

I would suggest that you make one TX with several outputs as this would likely save you in TX fees and would cause less blockchain "bloat"

shorena

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Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: fathur01 on October 25, 2014, 08:41:55 AM

Quote from: bitnanigans on October 25, 2014, 07:06:42 AM

You could also try grouping outputs together for each transaction. That's more cost effective in the long run.

But will increase the TX size in KB which leads to more fees needed for miners. I think thats how it works.

Its possible to make several outputs and still be below 1kibibyte

fathur01

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Quote from: bitnanigans on October 25, 2014, 07:06:42 AM

You could also try grouping outputs together for each transaction. That's more cost effective in the long run.

But will increase the TX size in KB which leads to more fees needed for miners. I think thats how it works.

bitnanigans

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You could also try grouping outputs together for each transaction. That's more cost effective in the long run.

fa

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Quote from: Q7 on October 25, 2014, 02:09:38 AM

It can be done if you use electrum whereby it allows you to use the CSV import feature to make mass payment. This is similar like what all the faucet sites do to perform payout. The current version of electrum has been improved to make this easier

Thanks guys!
From blockchain.info I looked up a lot of transactions and found various fee value attached from 0~0.005.
Tried to send with lower fee and it's accepted by miner with no problem.
Maybe I'll try electrum.

Q7

sr. member

Activity: 448

Merit: 250

It can be done if you use electrum whereby it allows you to use the CSV import feature to make mass payment. This is similar like what all the faucet sites do to perform payout. The current version of electrum has been improved to make this easier

H.W.Z

hero member

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It is impossible for that. The lowest fee for small amount transaction is set by the protocal to avoid being spammed to the blockchain by scammers. As you mention,you have a lot of small transactions. You can accumulated all of them in one single transaction just paying for the minimum fee of 0.0001.

franky1

legendary

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the transaction fee is not essential at this date. 25bitcoin is more than enough reward, miners do not need to be subsidized just yet. give it 10 years and that will change. but right now fee's are not needed.

i would love to have a google ads service where i can pay merchants or other entities fractions of pennies instantly for ad clicks, instead of having to wait for X payments to accumulate to then do it as a batch (multisend).

bitllionaire

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with electrum for example you can even set a 0 fee,however that can be risked because transactions can take too many time to arrive

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

If the input is old and big enough you can do it without fee. The question is how small is the ouput? If you want to introduce people to bitcoin and send them 20k satoshi they will be pissed when they figure out that they have to pay half of it as fee.

fa

full member

Activity: 140

Merit: 100

I know normally 0.0001 BTC is the fee. I have sent many at this fee rate, or higher depends on the bytes used.

On a website located in my home country, I want to send some small amount of btc to a lot of people to get them started on BTC.
The send is one person a time. But the total number of transactions is big,
so I want to know if a smaller fee, for instance 0.00007, is also doable (with normal blockchain confirmation time for almost every time) ?

That will save a lot of money if I send more than tens of thousands of transactions.

Anybody have any idea or have tried that? (faucet website?)

Topic: Lower tx fee, but still doable? (Read 1468 times)