paying no transaction fee | Bitcointalksearch.org

Borisz

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Quote from: sun64986161 on July 01, 2015, 01:26:52 AM

Quote from: Velkro on June 29, 2015, 08:48:21 AM

For small amounts of money i would try and risk no fee.
With bigger amounts there is no reason to not use fee.

righ
I think bitcoin fee is very low if you compare it with Bank
only 0.02$-0.03$ (10.000satosi) to get high priority transaction

Fees are lower than banks yes, however when you only have some tiny coins from e.g. faucets then it can get tricky. Your overall transaction will be over the size limit and you will need to pay a fee. And if the amount you want to send is not big enough the fee can be a larger percentage of the actual transaction.

I used to take some minor inputs to some exchange addresses, however that's not good either as they have withdrawal fees as was mentioned before.

If I don't need the transaction to go through asap, I don't send a fee. If I need it on time, I add a fee.

ranlo

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Quote from: lorylore on July 01, 2015, 06:52:35 PM

Quote from: ranlo on July 01, 2015, 06:45:44 PM

Quote from: OmegaCollector on June 29, 2015, 09:19:52 AM

Just trying to understand this. I thought that if the amount was larger, sending without a fee was just as fast? For example, if sending 5 or 10 bitcoins or more, then it would go fast without a fee?

In this case, it should be comparable. Even 0.01 BTC with no fee should be pretty quick. It's based on coin age/weight (the more you're sending and the older the inputs are, the faster it will be sent as it increases its weight).

Does it mean that exchanges has the faster rate of confirming the tx. ?

Most exchanges use a custom method to send transactions. They don't do it via age of input, but rather amount of input. Along with this, they all (as far as I'm aware) add transaction fees. So they'll be comparable as a result.

lorylore

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Quote from: ranlo on July 01, 2015, 06:45:44 PM

Quote from: OmegaCollector on June 29, 2015, 09:19:52 AM

Just trying to understand this. I thought that if the amount was larger, sending without a fee was just as fast? For example, if sending 5 or 10 bitcoins or more, then it would go fast without a fee?

In this case, it should be comparable. Even 0.01 BTC with no fee should be pretty quick. It's based on coin age/weight (the more you're sending and the older the inputs are, the faster it will be sent as it increases its weight).

Does it mean that exchanges has the faster rate of confirming the tx. ?

ranlo

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Quote from: OmegaCollector on June 29, 2015, 09:19:52 AM

Just trying to understand this. I thought that if the amount was larger, sending without a fee was just as fast? For example, if sending 5 or 10 bitcoins or more, then it would go fast without a fee?

In this case, it should be comparable. Even 0.01 BTC with no fee should be pretty quick. It's based on coin age/weight (the more you're sending and the older the inputs are, the faster it will be sent as it increases its weight).

lorylore

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Even with transaction fee, today the transaction took too long to be confirmed dont know why or only to me?

BitcoinNewbie15

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Bitcoin isn't a bubble. It's the pin!

Paying the transaction fee does help miners out and it also makes sure your transaction will have a (relatively) high priority. Personally, I usually pay the transaction fee, but I can see how not paying the transaction fee could be useful to some people if they frequently use faucets.

ranlo

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Quote from: shorena on June 13, 2015, 11:45:50 AM

Quote from: eerygarden on June 13, 2015, 11:28:44 AM

If you set your wallet to pay zero transaction fee what happens? Is there more than one possibility.

It makes sense that no transaction fee means that you get no priority, but will the transaction always be processed eventually? If yes, what is the maximum time frame? If no, is there a maximum time limit before it bounces back? Could it be stuck in limbo for months?

It will be confirmed eventually. If we consider the priority of the bitcoin day (1 bitcoin, 144 (1d) confirmations, 1 input, 1 output) and that its linear (.1 BTC, 1440 confirmations) the highest number of confirmations you would have to sit out in order to get a reasonable high priority would be for a 1000 Satoshi TX. A TX spending less than 546 satoshi is considered dust and would not get relayed by most nodes. This input would need 100,000 days or 14,400,000 confirmations to get a reasonable high priority for a confirmation without fee.

Depending on your wallet software or service the TX will get constantly rebroadcasted to make sure no nodes forget about it.

If you have a low fee and you cant stop the rebroadcasting the TX might be "in limbo" for months, yes.

With this said, I've sent transactions of 0.01+ before and they seem to confirm in a decent amount of time. I just did it for testing and it was back in 2013 or so, though. I haven't done any lately like that. I also sent a transaction for like 3 mBTC at one point and forgot to add a fee. It took ~37 hours to confirm.

sun64986161

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In God Im Trust

Quote from: Velkro on June 29, 2015, 08:48:21 AM

For small amounts of money i would try and risk no fee.
With bigger amounts there is no reason to not use fee.

righ
I think bitcoin fee is very low if you compare it with Bank
only 0.02$-0.03$ (10.000satosi) to get high priority transaction

DannyHamilton

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Quote from: OmegaCollector on June 29, 2015, 09:19:52 AM

Just trying to understand this. I thought that if the amount was larger, sending without a fee was just as fast? For example, if sending 5 or 10 bitcoins or more, then it would go fast without a fee?

The protocol allows mining pools (and solo miners) to choose which transactions are confirmed in the blocks that they are working on. While it is common right now for many mining pools to include large value transactions with no fee, there is no requirement for them to do so.

If you are operating a mining pool (or a solo miner), then you'll want to maximize your revenue. Since transaction fees contribute to your revenue, it seems obvious that some pools (or solo miners) may choose to ignore transactions that don't include a fee, especially if there are enough fee paying transactions to fill a block. Therefore, even with large value transactions, if an insufficient fee is included, it might take several blocks before a block is solved by a pool that is generous enough to supply your transaction with space in their block for free.

OmegaCollector

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Just trying to understand this. I thought that if the amount was larger, sending without a fee was just as fast? For example, if sending 5 or 10 bitcoins or more, then it would go fast without a fee?

Velkro

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For small amounts of money i would try and risk no fee.
With bigger amounts there is no reason to not use fee.

Amph

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Quote from: 1Referee on June 28, 2015, 05:41:33 AM

Quote from: RealBitcoin on June 28, 2015, 04:40:17 AM

Cmon be generous, a fkin 10.000 satoshi is dust guys, you can earn it back in about 5 minutes from faucets.

Be generous and donate to the miners, so always send with fee

There is absolutely no need to "donate" anything to the miners. If your tx is below a certain data size, you can also get it confirmed within a few blocks with just 0.00001BTC fee.

It might take a few blocks before your tx gets included, but it gets the job done. For small, less important payments, this is a great option.

not to mention that mining is high profitable for miners at the moment, some of those are paying less then 0.05 for electricity, and all their macine have already reached roi, basically is pure profit for them

no need to reward them with 10k fee satoshi, actually for shopping online you don't need a faster confirmation, because there is the shipping and all that stuff

so i simply wait more and that's it, but some sites, force you to send bitcoin fast, within one hour or two, it may be a problem with those

Hexcoin

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Quote from: RealBitcoin on June 28, 2015, 04:40:17 AM

Cmon be generous, a fkin 10.000 satoshi is dust guys, you can earn it back in about 5 minutes from faucets.

Be generous and donate to the miners, so always send with fee

Not all bitcoiners can give 10k sats as fee, remember newbies with only less than .01 balance ofcourse paying that amount would hurt them atleast

Herbert2020

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Quote from: RealBitcoin on June 28, 2015, 04:40:17 AM

Cmon be generous, a fkin 10.000 satoshi is dust guys, you can earn it back in about 5 minutes from faucets.

Be generous and donate to the miners, so always send with fee

yeah, 10000 satoshi is nothing when you convert it to fiat. but for newbies who are using faucets mostly and earn small dust amounts themselves, even 10000 satoshi is going to be alot because you have to visit at least 10-15 faucets to earn that much.

1Referee

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Quote from: RealBitcoin on June 28, 2015, 04:40:17 AM

Cmon be generous, a fkin 10.000 satoshi is dust guys, you can earn it back in about 5 minutes from faucets.

Be generous and donate to the miners, so always send with fee

There is absolutely no need to "donate" anything to the miners. If your tx is below a certain data size, you can also get it confirmed within a few blocks with just 0.00001BTC fee.

It might take a few blocks before your tx gets included, but it gets the job done. For small, less important payments, this is a great option.

RealBitcoin

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JAYCE DESIGNS - http://bit.ly/1tmgIwK

Cmon be generous, a fkin 10.000 satoshi is dust guys, you can earn it back in about 5 minutes from faucets.

Be generous and donate to the miners, so always send with fee

Muhammed Zakir

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Quote from: oni.saori on June 28, 2015, 01:45:04 AM

If you set tranx fees zero then you may lost your bitcoins normally it takes

You won't loose your Bitcoins.

Quote from: oni.saori on June 28, 2015, 01:45:04 AM

About 2 month to géting single confirmation you will not

2 months? A zero-fee transaction can get included even in the first block after it is broadcasted.

Quote from: oni.saori on June 28, 2015, 01:45:04 AM

Get money back one it sent

A fair warning: if you don't want your account to get banned, avoid posts like this.

oni.saori

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Quote from: eerygarden on June 13, 2015, 11:28:44 AM

If you set your wallet to pay zero transaction fee what happens? Is there more than one possibility.

It makes sense that no transaction fee means that you get no priority, but will the transaction always be processed eventually? If yes, what is the maximum time frame? If no, is there a maximum time limit before it bounces back? Could it be stuck in limbo for months?

If you set tranx fees zero then you may lost your bitcoins normally it takes

About 2 month to géting single confirmation you will not

Get money back one it sent

randy8777

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Quote from: LFC_Bitcoin on June 13, 2015, 03:53:53 PM

It's not worth the risk of your transaction not being confirmed. Just pay the average/set fee, it's pretty much nothing any way. You need to do your bit to assist the network otherwise there is no blockchain.
I often send a higher fee when I send a decent amount of bitcoin because it gets confirmed quicker & I get paranoid waiting for the 'recommended 6 confirmations'.
Seriously bro the standard fee is nothing, why do you want to send money with 0 fee?

beside the fee being barely worth mentioning, once you try to send bitcoins from a wallet with plenty inputs you won't be able to get it confirmed in a quick fashion with just the usual 0.0001 fee.

eerygarden

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Quote from: LFC_Bitcoin on June 13, 2015, 03:53:53 PM

Seriously bro the standard fee is nothing, why do you want to send money with 0 fee?

I don't. I was just looking for some education.

Thank you to all who responded to this post.

Topic: paying no transaction fee (Read 2253 times)