transaction fees. | Bitcointalksearch.org

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legendary

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Quote from: avw1982 on May 13, 2016, 06:14:50 AM

Quote from: Kisleav on May 11, 2016, 08:19:35 AM

Has the transaction fee for bit coins changed coz am trying to send a small fee from blockchain wallet and a higher transaction free over 0.001 is asked.

Thats not a big issue bro, When you sending the bitcoin from one wallet to another wallet, the transaction fast is based upon your fee which you fixed in settings. So you can change accordingly whenever you sending the bitcoins.

What settings you're talking about here ? Different wallets have different settings which can be declared during processing the transaction.OP is not using bitcoin core ,blockchain.info sets custom fees depending the size of transactions in kb.Minimum fee is around 0.0001 per transaction .Case is different in core,you either calculate the custom rates and declare it in .conf or let the network decide by itself depending on the load.

avw1982

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Quote from: Kisleav on May 11, 2016, 08:19:35 AM

Has the transaction fee for bit coins changed coz am trying to send a small fee from blockchain wallet and a higher transaction free over 0.001 is asked.

Thats not a big issue bro, When you sending the bitcoin from one wallet to another wallet, the transaction fast is based upon your fee which you fixed in settings. So you can change accordingly whenever you sending the bitcoins.

Kisleav

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Thanks guys, this was important

merelcoin

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Quote from: Kisleav on May 11, 2016, 09:37:43 AM

I was trying to send 0.002 and the fee is 0.001+ btc, I just don't think its worth,

At the moment, https://bitcoinfees.21.co/ says 40 satoshi's per byte will make sure your transaction has a high chance of getting included in the next block.

To approximate the transaction size, you can use following formula
in*180 + out*34 + 10

So, to guess the fee, you can use this formula:

40*(in*180 + out*34 + 10) = 100000
Assuming you only had 1 output, we can calculate the ammount of inputs:

((100000 / 40) - (34 + 10))/180 = 13.6

So, i'm estimating, this transaction had 14 inputs of, on average, 0.00014285 BTC... This is only an educated guess... It depends on to many factors to calculate this correctly.

You can try lowering the fee substantially and hope you'll get added to a block. It's possible you'll have to wait a very long time if you use a much lower fee, but it's worth a shot (imho)!

SFR10

legendary

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AFAIK, the blockchain.info wallet (legacy), hasn't changed it's fee structure base but I'm not sure about the new blockchain.info wallet (in case your using that one). Do you have an idea of how much the transaction size is since it has direct effect on needed normal fee. There might be too many small outputs used (even though your trying to send small amount) therefor it also increases transaction size and it's needed fee.

Quartx

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Becoming legend, but I took merit to the knee :(

Quote from: Kisleav on May 11, 2016, 08:19:35 AM

Has the transaction fee for bit coins changed coz am trying to send a small fee from blockchain wallet and a higher transaction free over 0.001 is asked.

I never really used blockchain wallet, i always use 0.00001 btc in multibit wallet. Maybe blockchain update their fees because their transactions werent sent out properly? I would not recommend keeping your coins inside blockchain wallet, it is not safe

Kisleav

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I was trying to send 0.002 and the fee is 0.001+ btc, I just don't think its worth,

merelcoin

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Quote from: Kisleav on May 11, 2016, 08:19:35 AM

Has the transaction fee for bit coins changed coz am trying to send a small fee from blockchain wallet and a higher transaction free over 0.001 is asked.

The "ideal" transaction fee always varies from day-to-day, week-to-week, month-to-month, year-to-year.
You can check the current "ideal" fee over here:

https://bitcoinfees.21.co/

Transactions without fees might be denied by the nodes since the last update (if i remember correctly). Also, the fee depends on the ammount of inputs and outputs, not on the ammount of coins that is sent.

Kisleav

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Activity: 1092

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Has the transaction fee for bit coins changed coz am trying to send a small fee from blockchain wallet and a higher transaction free over 0.001 is asked.

Topic: transaction fees. (Read 1002 times)