Topic: What happens when mining fee is not paid? (Read 480 times)
I agree to pay fees for any transaction but to be reasonable amounts!
It will depend on which wallet you are using, but most of them now enforce a minimum fee under circumstances where it is absolutely necessary.
When it is not absolutely necessary, there will be a setting in most wallets that allows you to add an optional additional fee. Failing to add this optional fee can result in an increased time for your transaction to be confirmed (anywhere from hours to days). To make such a decision, you'll need to know if the recipient needs confirmations in a hurry.
If you want to improve the chance that a miner will confirm your transaction in the next block, you'll want to include a fee of at least 0.0005 BTC.
When it is not absolutely necessary, there will be a setting in most wallets that allows you to add an optional additional fee. Failing to add this optional fee can result in an increased time for your transaction to be confirmed (anywhere from hours to days). To make such a decision, you'll need to know if the recipient needs confirmations in a hurry.
If you want to improve the chance that a miner will confirm your transaction in the next block, you'll want to include a fee of at least 0.0005 BTC.
I have not tried all the clients out there, but you should find a setting for adding a transaction fee. If you set that to the desired amount it will add it to future transactions. Without the fee it is still likely that someone will add it to the blockchain eventually.
The fee is added on top. You'll see this if you try to move all of the coins in your account, it'll tell you that you don't have enough to pay the fee and you'll need to reduce the amount you are sending.
many thanks, gonna make my first payment soon and wanted to understand the process a bit better
The fee is added on top. You'll see this if you try to move all of the coins in your account, it'll tell you that you don't have enough to pay the fee and you'll need to reduce the amount you are sending.
thanks for your answers. any ideas about the second half of my question about how mining fee is charged?
any ideas about the second half of my question about how mining fee is charged?
It is possible that miners will not care to include your transaction in the block.
the transactions will take way longer without a fee and i think it depends on the wallet.
What happens if you send a payment and have your wallet set to pay zero mining fee? Do the transactions just not get added to the blockchain?
Also is the mining fee taken out of the amount of btc sent (e.g. btc sent - mining fee = amount received) or is it added on top of the btc sent and taken from the remaining wallet balance (e.g. btc sent = amount recieved and mining fee taken from wallet balance)?
Hope this makes sense to someone
Also is the mining fee taken out of the amount of btc sent (e.g. btc sent - mining fee = amount received) or is it added on top of the btc sent and taken from the remaining wallet balance (e.g. btc sent = amount recieved and mining fee taken from wallet balance)?
Hope this makes sense to someone
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