Topic: Transaction fee (Read 1471 times)

It changes as time goes by but i find the core app gives a very accurate fee and nearly all my transactions get into the next block.... 

This is very good advice and it shows the idiocy of a "default fee". You can not remember a number that will always get you a quick confirmation. Such a default fee does not exist or it is unreasonble high most of the time. The demand for space on the blockchain changes with every block found. If you dont use a wallet that is able to give you a good estimate you have to get it from a different source, e.g. 21.co.

i really laugh at peoples naivety..

when over 2000 people at the same time decide that 13cents is the minimum. suddenty everyone will start  to spend 18 cents as the minimum.

this is because people are blindly incrementing the tx price by 0.0001 each time. instead of smaller amounts in between.

so remember what your using, ... try not to jump so high each time

0.0001btc = $0.045c
0.0002btc = $0.09c
0.0003btc = $0.135c <- some say this is new minimum
0.0004btc = $0.18c
0.0005btc = $0.225c <- some services already have this as the minimum
0.0006btc = $0.27c
0.0007btc = $0.315c
0.0008btc = $0.36c
0.0009btc = $0.405c
0.0010btc = $0.45c

try not to get it to 45cents with just 5 more decisions for the minimum.. try to use amounts inbetween to avoid it jumping too fast.

i expect the segwit lovers to reply that the tx fee is a free market scenario and is good thing, they will say how fees are still cheap and try distracting people to not care about their own actions and to blindly rely on what corporations choose to set the fee as(when they spam).. try to not be lulled into going with the autonomous brain-dead path. and instead just set the fee higher than the minimum BUT not by the more than a few cents above the minimum. EG not 0.000X increments but 0.00000X increments

i also predict the segwit folks will tell you that their features will solve any high fee problems.. but thats empty promises without any true realistic promise, due to many technical aspects they wash over

Currently I am using xapo and I am receiving a little amount of bits/satoshis from some faucets and so I don't know that how much is the transaction fee in sending or receiving bitcoins.
But I have heard that there is a much less amount of transaction fee charged while sending bitcoins.

Minimum i think 0.0001 in blockchain, maximu. I think ist large because itried to transfer 30$ in another wallet the fee is so big, i thought the minimim and maximum fee is 0.0001 but im shocked with the fee

the transaction fees are getting bigger right now because the block size is too small for the amount of transactions bitcoin has at the moment but im hoping that situation will be better in the near future

That was interesting, thanks for posting the link.

If I interpret the information there correctly, BTC0.0001 is a pretty reasonable transaction fee.  That is very low (less than US$0.05).  Considering that various other fees (BTC ATM fees, localbitcoin sellers charging high premiums, etc.), that is almost NOTHING!

To make it more likely that a miner will take my BTC transaction (if important) more quickly, I send along BTC0.0003 if it is a simple transaction.

the minimum is 0.00001 bitcoin,and the maximum is unlimited i think,i ever seen bitcoin transaction with 1.5 Bitcoin fee,its crazy i think,i hope i will never feel that transaction

When the value to each coin becomes higher, the normal fee will become lower. Usually 100bits work for most of my transactions, which is less than 5 cents. I think when the value of coin increase further, the transaction fee should remain at around 5 cents...

If you want to avoid the transaction fee, you can use XAPO or Coinbase as your Wallet for bitcoin. They do not charge you the transaction fee. but they do hold your private keys, so there is a risk and tradeoff. Now its your choice to pay the fee or give control in other people hands.

Nowadays, normal mining fee considered to get your transactions earlier into the blocks is ~0.0002 BTC...
But as said, everything depends on the total size of the transaction, as to how many bytes are being used, and you then need to decide the fee for the same...

It depends highly on how many inputs a certain transaction has. If I send a single input of 1BTC then I can most likely get it confirmed within 2 blocks with only 0.00001BTC in fees.

If you have a transaction of 1BTC with 20 inputs being 0.05BTC each, you most likely won't get your transaction confirmed within 5 blocks with only 0.00001BTC in fees. Then around 0.0005-0.001BTC will be more suitable.

usually fee is around 0,0001 fee, but that's not maximum fee or minimum fee, like someone said minimum fee can be 0, just it will take ages to send/get bitcoins, while i don't know how maximum fee looks like but it depends on technology, usually higher fee - faster sending/geting bitcoins

That depends on how much are you going to send and also which wallet are you using if you are using an exchange wallet like coinbase they wont charge you for any fees, if you are using blockchain wallet or mycelium the minimum is 0 but it could take weeks before it gets confirmed just always use the standard fee which is .0001 and your transaction should be fine.

While transaction fees are presently low, the true cost per transaction, paid for through currency dilution, is enormous:

https://blockchain.info/charts/cost-per-transaction

This is clearly unsustainable since it requires a massive number of buy and hold Bitcoin investors to effectively subsidize miners. Investors at $5/BTC had some reasonable expectation to gain money. Investors at $400/BTC are just paying for the network; little or no chance of appreciation (see the people who "invested" at $1100/BTC, $900/BTC, $700/BTC, etc...)

Transaction fee is not something to be worried about in Bitcoin Network. It is very very low fee and it is paid to the miners who have done such a hard work and put in their resources and hardware to mine the coin for us. 

It depends on the technology or system that you are using...

if you're using blockchain when you want to send a bitcoin, just simply use the quick send features and it'll automatically set a requrement fee for your transaction ,not too much, not too less

You can learn pretty much everything about fees here. You can see live info on bitcoinfees and Statoshi too.

I leave it up to my wallet. I can't be bothered to stay on top of the most fashionable fees of the moment.