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Topic: How much transactions fees? - page 2. (Read 2071 times)

sr. member
Activity: 259
Merit: 250
September 08, 2015, 12:37:49 AM
#33
I was using a BTC0.001 fee on a BTC0.33 transaction yesterday but it still took 80+ minutes to confirm  Angry
legendary
Activity: 1456
Merit: 1010
Ad maiora!
September 07, 2015, 10:09:28 PM
#32
transactions fees can be pretty high when you get tons of ultra low bitcoin payments. Cheesy

This is one of the main arguments against using faucets. Besides the tiny amount you make for hours of work, the payouts are all dust so when you try to spend them, even bundled up to anything significant, you pay huge fees. Wallets like multi it won't even let you choose the fee, so 20 faucet payouts totalling maybe a dollar can't be spent for less than around 20 cents tx fee.

It kinda busts the whole "btc will empower micro payments" claim. No dude in Africa is going to pay bus fare with btc if it has 20% fee attached
copper member
Activity: 67
Merit: 0
September 07, 2015, 02:30:35 PM
#31
transactions fees can be pretty high when you get tons of ultra low bitcoin payments. Cheesy
hero member
Activity: 686
Merit: 500
fb.com/Bitky.shop | Bitcoin Merch!Premium Quality!
September 07, 2015, 01:12:42 PM
#30
Hi folks,

I would like to know what is a usual fee to attach to a transaction? Is there any webpage where I can check the current recommended fee?

Thank you very much in advance!

https://en.bitcoin.it/wiki/Transaction_fees

Look at settings and technical info section.

I personally use recommend fees, use default fees from my wallet service.
full member
Activity: 132
Merit: 100
Bsupra C. Member
September 07, 2015, 01:09:47 PM
#29
I use 0.00001 BTC as fee. Using more than that is too expensive for me since i live in a third world country. Of course, if i'm sending an important transaction i pump up the fee price (to make sure my TX gets priority). Also, i'm using electrum wallet.
That indeed happens, imagine how hard would be earning something from faucets due little fees..
hero member
Activity: 518
Merit: 501
Error 404: there seems to be nothing here.
September 07, 2015, 01:05:39 PM
#28
I usually use 0.0001 BTC.
But if you want the tx to get through faster, adding 0.0001BTC extra doesn't really make a difference Cheesy
sr. member
Activity: 434
Merit: 250
Young but I'm not that bold
September 07, 2015, 01:03:33 PM
#27
It is up to you , you can put any amount of btc as fees , the standard rate is 10k satoshi
I tried before to send a transaction without fees and it takes some hours to be confirmed
legendary
Activity: 2968
Merit: 1895
September 07, 2015, 12:53:57 PM
#26
...

I consider most of by BTC transactions to be important, and I want to see them go through quickly, especially if there is a bogus Stress Test going on.

I have had excellent results with BTC0.0002 in normal times and BTC0.0003 when the blockchain is under attack.  Or even more if I feel it is warranted.

BTC0.0003 is about US$0.072.  7.2 cents.  Peanuts if sending $100 worth of BTC...
hero member
Activity: 770
Merit: 500
✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪
September 07, 2015, 12:37:28 PM
#25
I use coinbase, so I do not care much about the fee. But it surprises me that it is so high. I did not know.
sr. member
Activity: 446
Merit: 251
September 07, 2015, 11:58:12 AM
#24
I use 0.00001 BTC as fee. Using more than that is too expensive for me since i live in a third world country. Of course, if i'm sending an important transaction i pump up the fee price (to make sure my TX gets priority). Also, i'm using electrum wallet.
legendary
Activity: 1260
Merit: 1116
September 07, 2015, 11:47:31 AM
#23
Coinwallet.eu is stress testing this month by flooding the network with many small transactions, and they use .0005 for fee, so you can get priority by using .0006 bitcoin miners fee.

September 10th. I'm calling it 'don't buy anything with Bitcoin day'. It's fun!
legendary
Activity: 1806
Merit: 1164
September 07, 2015, 11:44:45 AM
#22
Coinwallet.eu is stress testing this month by flooding the network with many small transactions, and they use .0005 for fee, so you can get priority by using .0006 bitcoin miners fee.
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
September 07, 2015, 11:32:30 AM
#21
with artificial 1 MB blocks:

1 USD dollar per transaction next year - but you can use Paypal instead  Smiley


/s
full member
Activity: 176
Merit: 100
September 07, 2015, 10:01:53 AM
#20
I've made a couple of transactions in the past week with 10bits (0.00001BTC), and it takes around 2-3 hours if you do 0.0001 then itll take around 30min.
Usually not even 30 minutes. I do 100 bits and it takes around 10 minutes.
legendary
Activity: 1638
Merit: 1163
Where is my ring of blades...
September 07, 2015, 09:58:32 AM
#19
i usually put 10000 satoshi as the default amount of fee for all of my transactions and never had any problem and they get confirmed less than 5 minutes most of the time.
hero member
Activity: 756
Merit: 500
September 07, 2015, 09:55:16 AM
#18
I've made a couple of transactions in the past week with 10bits (0.00001BTC), and it takes around 2-3 hours if you do 0.0001 then itll take around 30min.
legendary
Activity: 1120
Merit: 1000
legendary
Activity: 3038
Merit: 4418
Crypto Swap Exchange
September 07, 2015, 09:37:12 AM
#16
The best and the fastest(with no delay) seems that is 41-50 satoshis for every byte. There is also mentioned that without fee (0satoshi) it takes 70-780minutes so around 13 hours max not bad if not in hurry.
This statement isn't too accurate. Free transactions are also ranked by their priority.
Code:
priority = sum(input_value_in_base_units * input_age)/size_in_bytes
The higher the priority, the faster it can be confirmed provided that it is less than 1kb, all outputs are more than 0.01 and the priority is higher than 57,600,000. I had sent 0.001BTC transactions without fee before and it took a hell lot of time, around 4-5days. The transaction time is more affected by network load than anything else. During the stress test, even with quite a good priority and high amount of coins in the outputs, it took several days.
legendary
Activity: 3248
Merit: 1070
September 07, 2015, 09:35:39 AM
#15
i tried with 0.00001 some times and it's working good, no long delay, maybe i was lucky but you can try with 1k satoshi

or simply leave the recommended, it can avoid troubles like forgetting to set the fees
hero member
Activity: 994
Merit: 500
September 07, 2015, 09:31:34 AM
#14
i always place 0.02$ or 0.0001BTC each transaction i made, but if i realy need it fast i make it 0.0002-0.0005BTC

and it works for me.

Can you tell us how much is the difference in Time between 0.0001BTC and 0.0005BTC tx fee?
No one can accurately tell. The miner which is mining the blocks may have different sets of rule which restricts mining fees below a specific amount. Lets say the miner's minimum fee is 0.0005BTC/KB, your 0.0001BTC/KB transaction would have to wait several blocks to be included in. Depending on the network load, transactions are usually ranked by fees per kb. The higher the fee, the higher the priority. Let's say that 0.0005BTC/KB is somewhere in the middle of the priority queue. It would have a higher chance of getting accepted than 0.0001BTC/KB. Miners also have the last say when including transaction, hence, a miner may include your 0.0001BTC/KB transaction but not the 0.0005BTC/KB transaction.

Based on Based on Blocktrail, the optimal fee is around 0.00014BTC/Kb. It should give you a high priority, a good probability for your transaction to get included within the next few blocks. Take note that fees/KB is what matters, not fees paid.

Thank you, well explained.

See the link I posted earlier. That site will tell you how long you will wait with each fee.

The best and the fastest(with no delay) seems that is 41-50 satoshis for every byte. There is also mentioned that without fee (0satoshi) it takes 70-780minutes so around 13 hours max not bad if not in hurry.
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