Topic: paying no transaction fee (Read 2257 times)

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.

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.

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

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).

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

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.

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.

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

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.

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?

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

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

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

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.

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.

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

You won't loose your Bitcoins.


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


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

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

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.

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

Thank you to all who responded to this post.

Its impossible to tell without a TX ID, but I would guess that the 2nd transaction was spending the first transaction and thus the second could only be confirmed once the first was confirmed. AFAIK most miners have not implemented child pays for parent and thus this would be entirely coincidential. The 1st TX would probably have confirmed in the same block regardless of the 2nd TX.

1. It depends on transaction size. Larger transaction would require much more transaction fees. The priority is affected by input value, age and transaction size. Hence, if the transaction is new, size is big, the transaction fees would be required.
2. Again, it depends on priority. If it has high priority, 0.00001BTC is all that is required for nodes to relay your transaction since default bitcoin core needs 0.00001BTC fees to relay.

if the transaction is not confirmed by ~2 days then they stop broadcasting it for a short time i have not take the exact time it takes, but it is not more that 15 minutes. EDIT: i checked my email, and apparently it is 1 hour gap.
then the same transaction will be re-broadcasted again.

the balance is restored in that 15 minute gap and you can double spend it.

also you will receive an email indicating that the transaction is failed.
after this it will be re-broadcasted to the network

If you feel .0001 is to much for you, you can include as low as 1k satoshi so your transaction will be confirmed in average 6 blocks

It's always a good thing to add a transaction fee, no matter how small is it, as to encourage the miners to include your transaction in the next block. I use around 3-4cent tx fees and it always gets confirmed on time. You could probably give 1 cent as a fee and the miners might still pick it up. So if you want your transaction to be confirmed quickly you should consider including a fee of at least 0.0001 BTC

But when sending larger transaction, like one whole coin, tx fee not really need as those automatically gets higher priority on the network.

No tx fee = slow confirmation. With tx fee = faster confirmation.

it will take much more time on average, until now, my average was around two hours, i think i was pretty lucky, usually it would take even a day if your priority is low, because of the queue and other factors(like how many transaction in that exact time, like if there was a fee with the previous transaction, ecc...)

It's not advisable to go for 'no transaction fee' transactions, especially when you're sending a large amount of BTCs.
If you're going for small transactions, you could possibly explore that option assuming that it won't be delivered anytime soon.

I prefer giving the transaction fee instead for safe and quick transactions
Hope that helps

Just use half of the suggested fee.  It is almost nothing, like 1 cent or something.  It will take a bit longer but may be worth it.  But unless you are sending dust around to wallets all day long I really don't see the point in not paying the fee.

You've received a bit of good advice and a lot of bad information in this thread.  Please be careful of whose feedback you trust.

What happens if you send a transaction without a fee depends entirely on what wallet you are using, and what your technical expertise is.

As one example...

If you are using the blockchain.info wallet, they will wait a few days for the transaction to confirm. If it has not confirmed yet after a few days have passed, they will stop broadcasting the transaction to the rest of the network, and will show you your balance as if you had never sent the transaction in the first place.  If you then send a new transaction that re-uses the same inputs, the address will be labeled in their block explorer web pages as having been associated with a "double spend".

As another example...

If you are using Bitcoin Core, the wallet will continuously re-broadcast the transaction forever until it confirms.  You might get lucky and a generous miner (or mining pool) may quickly confirm your transaction, or it could take a VERY long time.  There is no guarantee that the transaction will EVER confirm, although realistically I would expect that it would eventually confirm.  If you become impatient there are tools and/or methods that can be used to manually get the wallet to stop broadcasting the transaction.  If you use one of those methods the wallet will again reflect your balance as if you had never sent the transaction in the first place (although even then there is a chance that the recipient or someone else on the network might choose to re-broadcast the transaction).

There's a big difference between nothing and almost nothing.

Once you start getting a decent amount of BTC, 0.0001BTC (normal TX fee) is nothing.

I am not sure what actually made both transactions to confirm, but this looks like the "child pays for parent" transaction fee approach. I am not aware that this approach has been implemented and supported by miners. Could be just luck.

Can you guys confirm my experience with not paying first time but doing so the second time pushed through both?
Wondering if it was just fluke that they both went through.

It's not nothing and saving the fee could be appealing.

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?

My first time using a bitcoin atm I had setup blockchain on my cell phone the night before. I sat in this cafe waiting for the money for 45 minutes. I went into the office to find out I had not clicked miners fee. So I made another withdraw this time paying the miners fee and both transactions went through together,which was interesting.
But I would suggest paying the fee if you want to have a life.

edit: The 2nd transfer went through in 10 minutes.

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.

Your transaction will delay maybe over 2 days dependent to transaction volume(i think it's risky).
but, "A transaction may be safely sent without fees if these conditions are met: 
It is smaller than 1,000 bytes.
All outputs are 0.01 BTC or larger.
Its priority is large enough (see the Technical Info section below)".
you can check about transaction fees here: https://en.bitcoin.it/wiki/Transaction_fees


~iki

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?