Topic: transfer fee rate how much ? (Read 167 times)

Assuming you are trying to pay 200 sats as a fee, then your calculation is upside down. It should be fee/size, so 200 sats / 226 byte = 0.88 sats/byte. Note that this transaction would not be accepted as the minimum relay fee at all times is 1 sat/byte, although at the moment you need a fee of 4 sat/byte to even be broadcast since the mempool is so full, and in the region of 100 sat/byte for a fast confirmation.

100 sat/byte for a 226 byte transaction would be 22,600 sats (or 0.000226 BTC or 0.226 mBTC).

How did you get the 200?

Actually, it should be the fee rate you set times the transaction size sample this one

2x226= 0.00000452BTC or 452 sat

The 2 should be your transaction fee you set and 226 is your transaction size and the 452sat should be your total fee.

Look at this

Source: https://bitcoinelectrum.com/how-to-manually-set-transaction-fees/

Thank you all for taking the time to teach me 
best wishes for all

i dont understand one thing :

for example if my trans size is : 226 Byte

how I calculate fee ?

226/200 = 1.13 satoshi ? is true ?

Seems like it could be shown in the transaction dialog box:
source: https://github.com/spesmilo/electrum/blob/master/electrum/gui/qt/transaction_dialog.py#L490

source: https://github.com/spesmilo/electrum/blob/master/electrum/gui/qt/transaction_dialog.py#L692

and there's also code to show the option in the setting's dialog box
source: https://github.com/spesmilo/electrum/blob/master/electrum/gui/qt/settings_dialog.py#L108

Desktop electrum is by far the best elecrum wallet. It has so many features that the mobile version do not have. In addition to what you commented, mobile electrum wallet can not even freeze an address, or free coin which can be useful in case of dust attack. Or other option in which you can select the whole dust coin and send it to one address is not even possible on mobile electrum, the reasons people should go for desktop version.

But something happened to my laptop, and unable to access electrum on computer for now, that is why I stick to mobile which will be for a while before getting new laptop.

On the mobile version, this is what I noticed.

Version 4.0.9
     


Version 4.1.1 was release not quite long, and later not long version 4.1.2 was released. But I noticed the same thing in the settings.

     

So, the replace by fee was just removed, but now default. And if the transaction is not market final, it is automatically a replaceabke (replace-by-fee) transaction.

I just wish to know if the latest electrum desktop version is also like this. Starting from version 4.1.1 and up.

While a mempool estimate can be used as a reasonably accurate estimate most of the time, the mempool will appear to be fairly uncongested usually after a block and it would slowly start to accumulate again. It happened a few days ago when consecutively blocks were mined and the mempool diminished quite a bit before slowly going back to its usual levels. If you're not in a hurry or if you understand the caveats of relying solely on that, then mempool estimate is better than ETAs as it is far more conservative.

Others here have already given better answers than I ever could as far as how to set the network fee, but I just wanted to add that the network right now seems to be just a wee bit congested compared to a few weeks ago.  I've had a transaction stuck in the blockchain awaiting its first confirmation for days now, though admittedly I did send it with a relatively small fee of 4 sats/byte.  My point is that sometimes you'll be able to get your bitcoin sent very quickly with a small fee and other times when you could be waiting for who knows how long.

With Electrum I usually go by what the mempool indicates, though with this last transaction I didn't.  I think that's generally your safest bet if you want a fast confirmation, and I'd probably even add a few sats/byte to whatever the suggested fee is just in case.

I don't use Electrum for Android since it doesn't support hardware wallet. So I don't know how's there.
But what you are telling is rather confusing imho. My desktop Electrum (not the latest, but close) has a setting in preferences called "Use Replace-By-Fee"; this is what I was referring to and this should be checked.

4520 satoshi's MIGHT be enough for now, it's POSSIBLE the transaction will eventually be included in a block... But without knowing the transaction size, it's impossible to tell...

At this moment, you need a fee of ~50 sat/byte to get into the next couple of blocks.

If the OP's using a segwit wallet and created a 1 input, 2 output tx, the tx size will be ~200 bytes. This would result in a 4520 sat/200 bytes =~ 22 sat/bytes. Not enough right now, but odds are pretty good that it'll be included in a block before it's pruned from the mempool.

If the OP's using a legacy wallet to spend funds he got from a faucet (or some other micropayment website) and he creates a transaction with 16 inputs and 2 outputs, the transaction size would be ~4500 bytes, resulting in a 1 sat/byte fee, and the odds of such a tx ending in a block before it's pruned are not that good....

A tx with 1 input, 1 output from a segwit wallet is ~140 bytes, resulting in a ~30 sat/byte fee... So even in the best case scenario, a 4520 sat fee is not enough right now, unless you're willing to wait.

In other words: the fee alone tells you nothing... You need to now the size before you can draw any conclusion at all...

That being said: the tip to make sure the RBF flag is set is a good one... I'd defenately recommand it aswell

As NeuroticFish suggested, the first thing to do is to make sure th transaction is flagged as replaceable,  the sole reason is to able to pump the fee if the transaction is stuck. 0.0452 mBTC is not too low for now, that will amounts to 0.0000452 BTC, but it may take a long time before your transaction will be included in a block, but it will eventually be included, but to get your transaction mined in the next block, you will need to increase the fee. You can use mempool.space to check the feerate to get your transaction included in the next block.

Feerate can not be in mBTC or BTC. Feerate is in sat/vbyte.

Fee is not the same as fee rate. Fee is in BTC which is feerate(sat/vbyte) multiply by vbyte

Fee= sat/vbyte*vbyte.

Fee will then be in satoshi, mBTC or BTC.

But for ease and wallet estimation, better use feerate (sat/vbyte). And use mempool.space to know the amount that can get your transaction to be included in a block fast.

I am not sure about electrum on desktop, but the latest release Android versions (4.1.1, and now 4.1.2) do not have any feature again to enable replace-by-fee as it is now enabled by default. If the sender is about to send the btc, it can flag it final, which means it is not replaceable. But to enable replace-by-fee, the transaction should not be flagged final. I believe this should be how it also now work on desktop versions latest release, but I am not certain about it yet.

network99, to get started change unit from mBTC to BTC to make it easier for you to better understand some things - and if something hasn't changed in the new versions of Electrum, that option should be in Tools -> Preferences -> Appearance -> Change Base unit from.

1 mBTC = 0.00100000 BTC, so you have 0.00814385 BTC in your wallet, and the fee you would charge is very low, so you could expect your transaction to not be confirmed within a reasonable time.

At this point you need to pay 70 sats/vbyte for your transaction to enter the next block (although even that is not 100%). To find out how optimal the fee is, it's best to look at the state of the mempool on a page like this Johoe's Bitcoin Mempool Statistics. Here you can see how much you have to pay for your transaction to be confirmed in the next block, or for 2, 3 or more blocks.

The fee rate doesn't depend on the amount you send, it depends on the size of your transaction.
This means the number of inputs and outputs. Simply you will pay much more to send a truck full of pennies than a couple of banknotes (yes, it matters a lot how you have the money in the wallet)
Then, the fee rate fluctuates a lot by how "busy" the network is. You can follow https://mempool.space/ for a while and see what happens there.

Since you didn't tell the actual fee / vBytes I cannot answer better to your question.
As an advice, if you have the time to wait, follow that website and send the coins when the fees are low (it usually happens in the week-ends).
Also as an advice, since you use Electrum, make sure that RBF is ON, so you can replace the transaction if it takes way too long to get confirmed.

well... there is no way of telling you which fee to use... What we CAN do is tell you what a fee is, and how it works, so you can chose a fee for yourself...

A fee is not based on the value you transmit. It is not payed to the wallet creator....

A fee is an incentive for the miner to add your transaction to the block he/she is trying to solve. The blocksize is limited to 1Mb (excluding the witness data), so a miner has to chose which unconfirmed transactions he/she puts in the block he/she is trying to solve.
Since the fee can be added to the coinbase transaction (the transaction paying the miner), a miner has a financial motive to add the unconfirmed transactions with the highest fee/byte of transaction data.

So, your fee depends on the SIZE of your transaction, NOT it's value AND the fee (in sat/vbyte) also strongly depends on the other unconfirmed transactions in the mempool.

The SIZE of your transaction depends on the AMOUNT of inputs, the AMOUNT of outputs, the type of your wallet (legacy, segwit, native segwit,...) and in some lesser extend it also depends on the type of address you're trying to fund.

It's perfectly possible to transfer an equivalent of $100.000.000 in FIAT value with a smaller fee than transfering $10 in FIAT value IF the first transaction is using less unspent outputs as an input and/or creates less unspent outputs as an output OR if the first transaction is made using a segwit wallet vs a non-segwit wallet.

Now... The size of your transaction can be found using electrum... The optimal feerate can be found on sites like https://jochen-hoenicke.de/queue/#BTC,24h,weight ... using this combined information should give you the opportunity of picking a good fee....
OR... You can just use electrum's wizard... It's quite good... If none of what i said made sense to you, i'd stick with using the slider in electrum's gui

hello guys
have a good time

i have a problem with transfer btc with electrum !

i dont understand for btc transfer, how much select for fee rate ?

example for transfer 8.14385 mBTC , can i select  0.0452 mBTC for fee rate ? (this transaction is true and confirming ?)

please give me a suggestion fee rate for all transaction

best wishes