Transaction fees?! [Fixed] - page 2.

bitcola

full member

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Quote from: JA37 on June 18, 2011, 05:00:20 PM

Just look at it as a tax that will help bitcoin function. Grin

Without it necessary services that is required will not work, so we all have to pay a bit to help out.

A currency with a built-in tax? Great!

JA37

sr. member

Activity: 378

Merit: 250

Just look at it as a tax that will help bitcoin function. Grin

Without it necessary services that is required will not work, so we all have to pay a bit to help out.

bitcola

full member

Activity: 210

Merit: 100

If there is a fee then who makes money out of all this?

Jeez this reminds me of Paypal and their exorbitant fees. Undecided

geek-trader

sr. member

Activity: 294

Merit: 250

Quote from: vulgata on June 18, 2011, 04:23:20 PM

I guess another way of asking the question is, how many confirmations do I need before I don't have to pay a transaction fee on a coin?

This is the first I've heard of transaction fees on bitcoin. Major bummer. I would also like to know the answer to this question.

vulgata

newbie

Activity: 55

Merit: 0

I guess another way of asking the question is, how many confirmations do I need before I don't have to pay a transaction fee on a coin?

vulgata

newbie

Activity: 55

Merit: 0

Quote from: torusJKL on June 18, 2011, 02:25:13 PM

No. Bitcoin transaction are final.
But if you had waited longer you would have been able to do the transaction without fees.

What do you mean by waiting longer? Like waiting from the time I got it to when I sent it? I already waited 18 hours...

http://blockexplorer.com/address/14uGQh9g5LsLRwjzwuaJaGem3ukjfkehJf

torusJKL

hero member

Activity: 619

Merit: 500

Quote from: vulgata on June 18, 2011, 01:59:48 PM

So does this mean I will get my .0005 back after everything is confirmed (however long that takes)?

No. Bitcoin transaction are final.
But if you had waited longer you would have been able to do the transaction without fees.

tysat

legendary

Activity: 966

Merit: 1004

Keep it real

It's not 5% transaction fee, but the transaction fee is .0005 which just happened to be 5% of what you moved.

drknark

newbie

Activity: 28

Merit: 0

I could be wrong here.. but I have read that transactions below a certain amount are forced to pay a fee, to prevent transaction spamming of the network.

vulgata

newbie

Activity: 55

Merit: 0

Quote from: iamzill on June 18, 2011, 01:36:21 PM

Just wait a while after receiving those coins. "Fresh" transactions are considered "unsafe" and thus command a premium.

For me personally the transaction fee is waived after about an hour. This is just my personal experience. The "time to be trusted" is dependent on several factors, namely your internet connectivity, the current global hashrate, and the hash rates of nodes closely connected to you.

So does this mean I will get my .0005 back after everything is confirmed (however long that takes)?

Quote from: willphase on June 18, 2011, 01:43:08 PM

If you're upset with the transaction fees you can always roll your own client and pay 0 but you will see a noticeable delay in your transaction being included in a solved block.

Will

I just think 5% is a little much... and was I wrong in thinking that the original client allows you to choose 0 transaction fee? What is the point of setting paytxfee=0.00?

Maged

legendary

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Merit: 1015

Quote from: iamzill on June 18, 2011, 01:36:21 PM

The "time to be trusted" is dependent on several factors, namely your internet connectivity, the current global hashrate, and the hash rates of nodes closely connected to you.

The "time to be trusted (as not being spam)" is dependent on the number of confirmations the coins have, and their amounts.

willphase

hero member

Activity: 767

Merit: 500

If you're upset with the transaction fees you can always roll your own client and pay 0 but you will see a noticeable delay in your transaction being included in a solved block.

Will

iamzill

sr. member

Activity: 677

Merit: 250

Quote from: vulgata on June 18, 2011, 01:24:44 PM

So I just got started with Bitcoins the other day, and after mining for a bit with my ancient Nvidia card I tried moving around a little bit of money to see how it all worked. I am using bitcoind on Linux, and have my bitcoin.conf set to paytxfee=0.00, but when I moved 0.01 BTC I was charged a 0.0005 BTC transaction fee! That's 5%! Can some explain this to me and/or how to avoid this? It was my understanding that we could choose to pay no fee if desired and wait longer for confirmation.

Edit: Here is the record http://blockexplorer.com/tx/79783b30743aa95de351c3c43e41feae74f0fa7e196a3cab069ab58aa4e51d74

Just wait a while after receiving those coins. "Fresh" transactions are considered "unsafe" and thus command a premium.

For me personally the transaction fee is waived after about an hour. This is just my personal experience. The "time to be trusted" is dependent on several factors, namely your internet connectivity, the current global hashrate, and the hash rates of nodes closely connected to you.

vulgata

newbie

Activity: 55

Merit: 0

So I just got started with Bitcoins the other day, and after mining for a bit with my ancient Nvidia card I tried moving around a little bit of money to see how it all worked. I am using bitcoind on Linux, and have my bitcoin.conf set to paytxfee=0.00, but when I moved 0.01 BTC I was charged a 0.0005 BTC transaction fee! That's 5%! Can some explain this to me and/or how to avoid this? It was my understanding that we could choose to pay no fee if desired and wait longer for confirmation.

Edit: Here is the record http://blockexplorer.com/tx/79783b30743aa95de351c3c43e41feae74f0fa7e196a3cab069ab58aa4e51d74

Edit 2: Downgrading to 0.3.20 fixes the problem.

Link: http://sourceforge.net/projects/bitcoin/files/Bitcoin/bitcoin-0.3.20/

Please donate if I saved you some ฿ in transaction fees!

14uGQh9g5LsLRwjzwuaJaGem3ukjfkehJf

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