Transaction fees | Bitcointalksearch.org

Nigeria Prince

newbie

Activity: 28

Merit: 0

Quote from: marcovaldo on September 06, 2013, 06:27:43 AM

If you buy a car, you don't care about the fees, but if you are just moving money from one wallet to an other, you care.

Bitcoin transactions should be free, until a much bigger bitcoin adoption is acchieved.

Many people resist the bitcoin, because of the "mysteries" about the transaction fees. Most people don't understand it is way too complicated for non-tech-people.

That's why I set all my miners and clients to -mintxfee=0.00000000 and -mintxrelayfee=0.00000000 to support 0 transaction fee.

marcovaldo

sr. member

Activity: 350

Merit: 250

Quote from: MCZ on September 06, 2013, 06:01:21 AM

Transaction fees are good because the support the miner. Thereof they support the whole network. And they also prevent 1 satoshi spamming. Imho they are exactly where they should be. Maybe they need to be lowered in the near future, as the price for 1BTC keeps rising.

If you buy a car, you don't care about the fees, but if you are just moving money from one wallet to an other, you care.

MCZ

newbie

Activity: 3

Merit: 0

Transaction fees are good because the support the miner. Thereof they support the whole network. And they also prevent 1 satoshi spamming. Imho they are exactly where they should be. Maybe they need to be lowered in the near future, as the price for 1BTC keeps rising.

Nigeria Prince

newbie

Activity: 28

Merit: 0

Quote from: uraliss1 on August 31, 2013, 10:55:59 AM

Hi Folks
Can someone help me with transaction fees please?

I thought it was possible to send bitcoins without any transaction fees. But it appears I am wrong. Is there something I am missing?

Thanks

You can do.

Calculation is:

(BTC in Satoshi * confirmations)/size > 57600000

So you you want to send 5 BTC for free, size of transaction is 250 bytes.

(500000000*x)/250 > 57600000

--> x > 28.8

So you need 29 confirmations before sending 5 BTC without fee with immediate confirmation.

Remember, all inputs must be > 0.01 BTC as well.

Sincerely, Nigeria Prince (Bitcoin expert)

marcovaldo

sr. member

Activity: 350

Merit: 250

Depends what you do ...
Imo they are way too high.

b!z

legendary

Activity: 1582

Merit: 1010

the fees are very low (almost zero) so it does not really matter

bogglns

newbie

Activity: 25

Merit: 0

some wallet takes 0.001 fees

Reaper3

sr. member

Activity: 378

Merit: 250

Quote from: favdesu on August 31, 2013, 12:49:18 PM

Quote from: uraliss1 on August 31, 2013, 12:47:42 PM

thanks for the update.
its more complicated than first appears!

indeed. online wallets and most alternative clients add the fee by default, just don't forget to use any

online wallets are very unsafe a lot of times.

favdesu

legendary

Activity: 1764

Merit: 1000

Quote from: uraliss1 on August 31, 2013, 12:47:42 PM

thanks for the update.
its more complicated than first appears!

indeed. online wallets and most alternative clients add the fee by default, just don't forget to use any

uraliss1

newbie

Activity: 8

Merit: 0

thanks for the update.
its more complicated than first appears!

Birdy

sr. member

Activity: 364

Merit: 250

It's explained here: http://bitcoinfees.com/

marcovaldo

sr. member

Activity: 350

Merit: 250

No, it is possible but it will take more time to get confirmed.
I have a transaction that is waiting for 2 days.

uraliss1

newbie

Activity: 8

Merit: 0

Hi Folks
Can someone help me with transaction fees please?

I thought it was possible to send bitcoins without any transaction fees. But it appears I am wrong. Is there something I am missing?

Thanks

Topic: Transaction fees (Read 732 times)