I have sent micro-transactions for 0 fee on blockchain.info but you have to make sure your coins have been there for a few days already. If it does not work, as it happened to me a few times, you get it back but it can take a few days. BTC is not made for micro-transactions and the fees are a way to try not to have them otherwise the blockchain would be even bigger than what it is now.
Maybe suggest the website to accept litecoins or darkcoins, or others, as they are more suitable for those small transactions
Topic: Micro transactions - confirmations? - page 2. (Read 2043 times)
Well, next question then, based on the previous response.
What is offchain? I am using blockchain.info wallet, and I think it's online all the time. ^frown^
What is offchain? I am using blockchain.info wallet, and I think it's online all the time. ^frown^
Offchain transactions are transactions that are not processed and recorded in the bitcoin blocks.
For example, you can send bitcoin from your Coinbase account to my Coinbase account. There will be no public bitcoin transaction going through but just only a record on the Coinbase's internal database.
Well, next question then, based on the previous response.
What is offchain? I am using blockchain.info wallet, and I think it's online all the time. ^frown^
What is offchain? I am using blockchain.info wallet, and I think it's online all the time. ^frown^
The standard fee is 0.0001 btc per KB, but you can send transaction without fee as well. It will be confirmed if it has a high enough priority (please read https://en.bitcoin.it/wiki/Transaction_fees#Reference_Implementation).
For micro-transaction, it is better to do it offchain.
For micro-transaction, it is better to do it offchain.
I think the average miners set as the TX fee to include in blocks is 10,000 satoshi's and anything lower than that would take more time than the average 10 minutes for a block.
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if the transaction is more than 5500+ satoshi if you pay fee or not it must be confirmed. minimum fee is usually 10.000 satoshi.
Wrong! I tried it by sending 0.05 BTC and it didn't work when not including a fee. There is no minimum fee, you can even send a 0 fee transaction but it will hardly get a transaction, sometimes it will be broadcasted from many days and just drop out. It is better to send a transaction with 0.001BTC and if you can't then, 0.000001BTC. Lower than that would make the transaction hard to get a confirmation.
~~MZ~~
if the transaction is more than 5500+ satoshi if you pay fee or not it must be confirmed. minimum fee is usually 10.000 satoshi.
I was wondering, what is the smallest fee, I can use, to still have my transaction confirmed?
0, it might just take a while (as in: up to a week) till a miner will include your TX in a block.
I am currently on a site, where "things" can be bought, for a few satoshi's {less than 3000 satoshi} BUT the problem come in, that to get this transaction confirmed, you have to spend more Satoshi's than what the digital item was worth. ^frown^
So this negate the statement, that bitcoin are best for micro transactions like this.
So this negate the statement, that bitcoin are best for micro transactions like this.
With the way the standart fee currently works and the value of bitcoin, its indeed not good for microtransactions.
If you leave no fee, it will never be confirmed. Or there might be a possibility
So as a guideline, I need to know, what minimum fee, will guarantee a confirmation of the transaction?
So as a guideline, I need to know, what minimum fee, will guarantee a confirmation of the transaction?
No fee can guarantee a confirmation, but it would be very unlikely if a TX would not be included in the next block with standard fee (10k satoshi / kbyte). A lower fee (e.g. 1k satoshi / kbyte) will lead to less miners that will include your TX in a block, but if you have a little time any miner would do and there are still some out there with enough power to make a block that accept 0 fee TX.
I was wondering, what is the smallest fee, I can use, to still have my transaction confirmed?
I am currently on a site, where "things" can be bought, for a few satoshi's {less than 3000 satoshi} BUT the problem come in, that to get this transaction confirmed, you have to spend more Satoshi's than what the digital item was worth. ^frown^
So this negate the statement, that bitcoin are best for micro transactions like this.
If you leave no fee, it will never be confirmed. Or there might be a possibility
So as a guideline, I need to know, what minimum fee, will guarantee a confirmation of the transaction?
I am currently on a site, where "things" can be bought, for a few satoshi's {less than 3000 satoshi} BUT the problem come in, that to get this transaction confirmed, you have to spend more Satoshi's than what the digital item was worth. ^frown^
So this negate the statement, that bitcoin are best for micro transactions like this.
If you leave no fee, it will never be confirmed. Or there might be a possibility
So as a guideline, I need to know, what minimum fee, will guarantee a confirmation of the transaction?
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