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Topic: Transaction Fee question (Read 1680 times)

legendary
Activity: 2982
Merit: 4193
July 18, 2014, 05:20:39 AM
#36
It may take really long time, why are you so greedy?? You only need to spend like 10-20 cents on transaction fee if not less. 
it's just an example for the question, i always add fee for miners Grin
i saw some big amount of tx not include fee, like my current signature payment did
If your 1btc has more than 150 confirmations, you can send it for free. Same goes to 0.5btc with 300 confirmations.
where i can get this information? it's only take 25 hours to get 150 confirmation

If you leave it to get old enough, your outputs must not be dust and your inputs must also not be dusts. The transaction size also matter other than the age.
what's parameter to described old enough?
for one day? for 150 confirmations?
For about 144 confirmations is enough. Since your outputs aren't dust, it should be confirmed eventually, considering that it was kept for sometime. You can find it on the bitcoin wiki, transaction fees section.
Quote
Transactions need to have a priority above 57,600,000 to avoid the enforced limit (as of client version 0.3.21). This threshold is written in the code as COIN * 144 / 250, suggesting that the threshold represents a one day old, 1 btc coin (144 is the expected number of blocks per day) and a transaction size of 250 bytes.

So, for example, a transaction that has 2 inputs, one of 5 btc with 10 confirmations, and one of 2 btc with 3 confirmations, and has a size of 500bytes, will have a priority of
hero member
Activity: 644
Merit: 500
July 18, 2014, 05:13:39 AM
#35
It may take really long time, why are you so greedy?? You only need to spend like 10-20 cents on transaction fee if not less. 
it's just an example for the question, i always add fee for miners Grin
i saw some big amount of tx not include fee, like my current signature payment did
If your 1btc has more than 150 confirmations, you can send it for free. Same goes to 0.5btc with 300 confirmations.
where i can get this information? it's only take 25 hours to get 150 confirmation

If you leave it to get old enough, your outputs must not be dust and your inputs must also not be dusts. The transaction size also matter other than the age.
what's parameter to described old enough?
for one day? for 150 confirmations?
legendary
Activity: 2982
Merit: 4193
July 18, 2014, 03:48:34 AM
#34
I think its retarded to pay any form of fee unless its a third party.
I don't think it's fair for any miner to get no fee. People work for a reason, you obviously have to pay a bit of service or goods tax. If not, they wouldn't earn a lot. For bitcoin, in 130+ years, there will be little mining rewards, if people don't pay fees, miners are literally mining for no profit.
newbie
Activity: 42
Merit: 0
July 17, 2014, 04:08:25 PM
#33
I think its retarded to pay any form of fee unless its a third party.
sr. member
Activity: 406
Merit: 250
July 17, 2014, 01:00:13 AM
#32
is it right if i want to send big amount like 1 BTC, i can't leave transaction fee to 0?
and the network will confirm it?

If your 1btc has more than 150 confirmations, you can send it for free. Same goes to 0.5btc with 300 confirmations.
I think you are referring to transaction prioritization. The longer it has been since specific inputs have been last moved the higher priority the transaction will have. The normal rules of BTC per TX size would still apply. Miners always have the option of confirming a TX that doesn't have a fee attached when it normally should.
hero member
Activity: 662
Merit: 500
July 16, 2014, 09:55:36 AM
#31
is it right if i want to send big amount like 1 BTC, i can't leave transaction fee to 0?
and the network will confirm it?

If your 1btc has more than 150 confirmations, you can send it for free. Same goes to 0.5btc with 300 confirmations.

AFAIK, that general rule of 1 bitcoin-day works for tx with a size of about 250 bytes only, but not larger tx (with more inputs and outputs).
legendary
Activity: 2982
Merit: 4193
July 16, 2014, 07:09:55 AM
#30
is it right if i want to send big amount like 1 BTC, i can't leave transaction fee to 0?
and the network will confirm it?
If you leave it to get old enough, your outputs must not be dust and your inputs must also not be dusts. The transaction size also matter other than the age.
hero member
Activity: 658
Merit: 500
July 16, 2014, 05:36:47 AM
#29
is it right if i want to send big amount like 1 BTC, i can't leave transaction fee to 0?
and the network will confirm it?

If your 1btc has more than 150 confirmations, you can send it for free. Same goes to 0.5btc with 300 confirmations.
sr. member
Activity: 434
Merit: 250
July 16, 2014, 05:30:20 AM
#28
is it right if i want to send big amount like 1 BTC, i can't leave transaction fee to 0?
and the network will confirm it?
It may take really long time, why are you so greedy?? You only need to spend like 10-20 cents on transaction fee if not less. 
hero member
Activity: 644
Merit: 500
July 15, 2014, 11:08:43 PM
#27
is it right if i want to send big amount like 1 BTC, i can't leave transaction fee to 0?
and the network will confirm it?
member
Activity: 84
Merit: 10
July 15, 2014, 10:42:33 PM
#26
Essentially make transaction faster with higher fee (I think).
So if you want say take advantage of an ongoing pump or dump and want to move coins quick at an exchange, you can pay an higher fee to not miss the party  Grin
legendary
Activity: 1358
Merit: 1000
July 15, 2014, 08:49:27 PM
#25
Does it make sense to aggregate smaller inputs and send them to another address controlled by you?
If transaction size is one of the parameters, doesn't breaking up one transaction into many smaller transactions help avoid transaction fees?
legendary
Activity: 2982
Merit: 4193
July 15, 2014, 03:25:17 AM
#24
In simple terms, its better to send bigger amounts = less fee or free
Not necessary, if there are a lot of inputs or outputs to the transaction, the fees must still be imposed since the transaction size is bigger. It can also depend on coin age.
full member
Activity: 123
Merit: 100
July 14, 2014, 05:42:59 PM
#23
In simple terms, its better to send bigger amounts = less fee or free
member
Activity: 85
Merit: 10
July 14, 2014, 03:18:53 PM
#22
Wow, great link thanks for that.
legendary
Activity: 1358
Merit: 1000
June 17, 2014, 10:26:44 AM
#21
Transaction fees explained in detail....

http://www.bitcoinfees.com/
by far and away the best site ive been directed to that explains bitcoin transaction fee's.

thanks for sharing

You are welcome. This site cleared a lot of my misconceptions.
I initially thought transaction fees were optional for all transactions.
hero member
Activity: 784
Merit: 500
June 17, 2014, 09:08:11 AM
#20
The fees are used to pay miners so that they can confirm your transactions! Make sure to pay a fee or else your transactions will have low priority, hence slower confirmation time.
hero member
Activity: 662
Merit: 500
June 17, 2014, 06:56:27 AM
#19
How do you know when your coins are old enough to send without a fee?

https://en.bitcoin.it/wiki/Transaction_fees#Technical_info
You can calculate the "transaction priority" yourself. Smiley
legendary
Activity: 2618
Merit: 1105
June 17, 2014, 04:12:52 AM
#18
Ug sorry. I figured it out, you have to have money on deposit in order to purchase things for 1 satoshi.
What in the heck could you possibly have been considering purchasing for a single satoshi may I ask?  1 satoshi at today's rate isn't even 1/10,000th of a single US penny!  Anyhoo, wouldn't make much sense paying transaction fee's in this case.

Soon that will be worth 10,000x a dollar woooooop
legendary
Activity: 1722
Merit: 1000
Satoshi is rolling in his grave. #bitcoin
June 16, 2014, 04:04:09 PM
#17
How do you know when your coins are old enough to send without a fee?

i want to know this too.
is it even possible to send without fee? and wouldnt that make the transaction take way too long to confirm.
cheers
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