Min transaction fee | Bitcointalksearch.org

hermann1983

full member

Activity: 120

Merit: 100

Quote from: etotheipi on October 27, 2013, 11:16:06 AM

This is not an Armory thing, this is a Bitcoin-network-thing. The 0.0001 fee is actually a "relay-only" fee, which doesnt' guarantee it will be mined, only that the network will see it. Right now, that's usually sufficient to get it mined, but my goal is to minimize issues, and using the 0.0001 minimum fee is likely to result in tx occasionally getting stuck (maybe not right now, but possibly in the future).

Bitcoin-qt 8.x uses 0.0001 minimum fee per KB, so there shoud be this option in Armory as well. And if the fee ruling in Bitcoin-qt changes, you may change it in future Armory versions as well Wink

CircusPeanut

full member

Activity: 123

Merit: 100

Correction of my previous post. I see now that Armory does consider the coin age, i.e. number of confirmations, when determining the minimum transaction fee.

At some point in the future Armory may support Micro-payments channels (https://bitcointalksearch.org/topic/announce-micro-payment-channels-implementation-now-in-bitcoinj-244656)

etotheipi

legendary

Activity: 1428

Merit: 1093

Core Armory Developer

This is not an Armory thing, this is a Bitcoin-network-thing. The 0.0001 fee is actually a "relay-only" fee, which doesnt' guarantee it will be mined, only that the network will see it. Right now, that's usually sufficient to get it mined, but my goal is to minimize issues, and using the 0.0001 minimum fee is likely to result in tx occasionally getting stuck (maybe not right now, but possibly in the future).

Any tx with any outputs less than 0.01 BTC must have a fee of 0.0005 for the default client to mine it (0.0001 to relay). There is no way around it unless you have a generous miner. And a recent soft network rule went into effect that makes outputs less than 0.00005430 (I think) not even standard. The network discourages tiny payments, though "tiny" is a moving target with the rising bitcoin price.

CircusPeanut

full member

Activity: 123

Merit: 100

Armory considers any output value less than 0.01 BTC to be dust. Any dust output requires at least 0.0005 BTC transaction fee. Armory does not consider coin age when determining the minimum transaction fee. This is more restrictive than other clients and most miners.

In the future Armory is planning to implement a mechanism for cleaning up multiple dust outputs for no fee.

HELP.org

hero member

Activity: 510

Merit: 500

..

Topic: Min transaction fee (Read 1131 times)