Topic: Sending small amounts of BTC to thousands? (Read 390 times)
I think you need to make the question more clear. What I read it as is you want to send BTC to thousands of people (title). Maybe you'll get more help in the technical support section.
Your question is not clear. Do you mean, what is the best number of outputs in order to minimize the transaction fee per output?
The transaction you linked is almost a waste of bitcoins because the cost of redeeming each will be more than the transaction fee required to redeem. Each input to a transaction will add somewhere around 128 bytes to the transaction (I think). The fee is 0.0005 BTC per kB. So very small outputs are simply not cost-effective to redeem.
The transaction you linked is almost a waste of bitcoins because the cost of redeeming each will be more than the transaction fee required to redeem. Each input to a transaction will add somewhere around 128 bytes to the transaction (I think). The fee is 0.0005 BTC per kB. So very small outputs are simply not cost-effective to redeem.
What would be the ideal tx size for this ?
I've been playing with it trying to find the best ratio of input to tx fee.
1 isnt optimal, 100's isnt optimal. 1000's is barely optimal and 2000+ at least gets me with a higher input the tx fee.
Like this http://blockchain.info/tx/24ee838c252c39b131f33202874b379e363e0d4e0d620581959a711dfaa84f05
I've been playing with it trying to find the best ratio of input to tx fee.
1 isnt optimal, 100's isnt optimal. 1000's is barely optimal and 2000+ at least gets me with a higher input the tx fee.
Like this http://blockchain.info/tx/24ee838c252c39b131f33202874b379e363e0d4e0d620581959a711dfaa84f05
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