Topic: Questions about transaction fees (Read 658 times)
It should be called transaction Bids because the miners are bidding who can go cheapest.
As far as the change address goes - it needs to be specified (even it is the same as one of the original UTXOs).
Someone had suggested a while back a method for making a tx smaller by having the change address being identified from the UTXO set but I am pretty sure that it was not looked at positively for reasons of privacy (i.e. reducing it) and complexity (how to handle things like M of N transactions).
Someone had suggested a while back a method for making a tx smaller by having the change address being identified from the UTXO set but I am pretty sure that it was not looked at positively for reasons of privacy (i.e. reducing it) and complexity (how to handle things like M of N transactions).
They are 0.0001 multiples now.
Depends on the transaction priority. Hard to say and is very variable.
Multiple inputs increase the size of your tx so you may pay a higher fee
TX fee is based on size primarily because that is what matters. So for everything if it increases the size yes, otherwise no
Depends on the transaction priority. Hard to say and is very variable.
Multiple inputs increase the size of your tx so you may pay a higher fee
TX fee is based on size primarily because that is what matters. So for everything if it increases the size yes, otherwise no
I read the standard transaction fee info at https://en.bitcoin.it/wiki/Transaction_fees
But I still have a few questions:
• What happens if you do not send the full standard .0005 BTC transaction fee? How long is the confirmation typically delayed?
• What happens if you send no transaction fee? How long is the confirmation typically delayed?
(Put another way, is it just a dumb idea to not include the standard transaction fee? Is it possible for a transaction to permanently get stuck in limbo?)
• Suppose the total coins you need to send exceeds the value of your individual addresses. If you send out 1 combined amount from multiple addresses at the same time are you charged multiple transaction fees or just 1 fee? (It sounds like you could easily combine less than 20 source addresses and get away with using just one .0005 BTC fee)
• When getting change back for sending out too much, does the change go to a different address automatically in all wallets? (my guess is: no, but it is possible?)
• Is there a separate transaction fee needed when the change goes to a different address (a new change address) than the original sending address? (my guess is: no)
• Can you send from one address to multiple for 1 standard fee with having it be delayed? (my guess is: no)
But I still have a few questions:
• What happens if you do not send the full standard .0005 BTC transaction fee? How long is the confirmation typically delayed?
• What happens if you send no transaction fee? How long is the confirmation typically delayed?
(Put another way, is it just a dumb idea to not include the standard transaction fee? Is it possible for a transaction to permanently get stuck in limbo?)
• Suppose the total coins you need to send exceeds the value of your individual addresses. If you send out 1 combined amount from multiple addresses at the same time are you charged multiple transaction fees or just 1 fee? (It sounds like you could easily combine less than 20 source addresses and get away with using just one .0005 BTC fee)
• When getting change back for sending out too much, does the change go to a different address automatically in all wallets? (my guess is: no, but it is possible?)
• Is there a separate transaction fee needed when the change goes to a different address (a new change address) than the original sending address? (my guess is: no)
• Can you send from one address to multiple for 1 standard fee with having it be delayed? (my guess is: no)
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