What is the current minimum BTC transaction fee?

pinoyden

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Quote from: CrypticAce on October 14, 2017, 11:11:44 PM

If I send a transaction of $900 will it get confirmed with 1 sat, and how long would it take if it did

it would take forever to confirm and probably your transaction will be ignored by miners because 1 sat is frigin low not unless you can re pay for a transaction accelerator to speed up the process.

Quote from: posi on October 18, 2017, 01:07:05 PM

If you want to receive your transaction in 45 minutes time. I think the minimum transaction fee is 0.00009255btc and that's if you urgently need your transaction or preventing dust transfer.

i dont think so. judging on the bitcoins current value today i think 0.00009255btc is not enough for a 45 minutes transfer, infact i send lately with that said amount and guess what, the bitcoin arrives roughly 4 to 5 hours and its in low priority though. tsk, sigh..

posi

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If you want to receive your transaction in 45 minutes time. I think the minimum transaction fee is 0.00009255btc and that's if you urgently need your transaction or preventing dust transfer.

Jonashe

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Quote from: CrypticAce on October 14, 2017, 11:11:44 PM

If I send a transaction of $900 will it get confirmed with 1 sat, and how long would it take if it did

There is a difference between a cheap transaction that gets confirmed in weeks and a standard fees transaction which may confirm within an hour. Its upto you to decide whether you want to send your bitcoins and wait for the transaction to confirm in a month or to confirm it within a day. Honestly I think the miners should get a proper reward for the blocks they mine and so if you want a painfully slow transaction then be my guest but I would prefer to pay an optimum fee.

wilkas

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Quote from: CrypticAce on October 14, 2017, 11:11:44 PM

If I send a transaction of $900 will it get confirmed with 1 sat, and how long would it take if it did

Are you sure you want to risk it with this amount? https://bitcoinfees.21.co/ tells that currently its up to 110 minutes, but I would go with at least 11 sats/byte.

CrypticAce

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If I send a transaction of $900 will it get confirmed with 1 sat, and how long would it take if it did

kiloiko

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Quote from: wilkas on August 11, 2017, 11:41:34 PM

I want to send 0,01 BTC from blockchain.info to Poloniex. What is the minimum fee I can use? This site bitcoinfees.21.co says that it should be enough to use 21 sat/b and get transaction in 9 hours. But I've heard that there is a minimum total sat size (around 5460) to prevent dust transfers. Please advice.

In the blockchain I don’t think there is any minimum transaction fee, there are just recommended fees to help get your transactions confirmed in little or faster time. The minimum required fee to get it confirmed in a day is somewhere around 120sat/byte.

Golerm

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It also depends on how busy the network is. I've recently sent low fee (too low if you follow the guidelines here) payments which eventually got confirmed, while a few weeks back payments never got confirmed even with a high fee.

Personally, I think the fees are way too high and confirmations too slow since around 2013.

Asyifiah

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If you using privat wallet bitcoin , you can change fee 25k - 100k Satoshi for one send Bitcoin.
But If you send Bitcoin with another exchanger , depending on the exchanger it explains how much it costs once Transaction send Bitcoin.

swscowods

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Quote from: wilkas on August 11, 2017, 11:41:34 PM

I want to send 0,01 BTC from blockchain.info to Poloniex. What is the minimum fee I can use? This site bitcoinfees.21.co says that it should be enough to use 21 sat/b and get transaction in 9 hours. But I've heard that there is a minimum total sat size (around 5460) to prevent dust transfers. Please advice.

There is no minimum, though there are set minimums for you to get your transactions confirmed in lesser time, you can set up custom fees to either reduce or increase the fees though you should remember that the fees also affect transaction speed.

kingntking

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Quote from: wilkas on August 11, 2017, 11:41:34 PM

I want to send 0,01 BTC from blockchain.info to Poloniex. What is the minimum fee I can use? This site bitcoinfees.21.co says that it should be enough to use 21 sat/b and get transaction in 9 hours. But I've heard that there is a minimum total sat size (around 5460) to prevent dust transfers. Please advice.

I don’t know if there is any maximum but all I know is that the higher transaction fee you set, the faster your transaction gets confirmed and the deal is done. If you use a very low transaction fee for your transactions, then you should be ready to wait long for confirmation

offlinedragon

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Quote from: wilkas on August 11, 2017, 11:41:34 PM

I want to send 0,01 BTC from blockchain.info to Poloniex. What is the minimum fee I can use? This site bitcoinfees.21.co says that it should be enough to use 21 sat/b and get transaction in 9 hours. But I've heard that there is a minimum total sat size (around 5460) to prevent dust transfers. Please advice.

I actually don’t know but I’ve been able to use 60sat/b transaction fee and I almost cried because it took hours for it to get confirmed. Anyone using a custom transaction fee should note that the higher the transaction fee the faster the transaction

wilkas

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Today have done another transfer with 40 sat/byte and it came through in less than 12 hours.

eidoscore

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Quote from: wilkas on August 11, 2017, 11:41:34 PM

I want to send 0,01 BTC from blockchain.info to Poloniex. What is the minimum fee I can use? This site bitcoinfees.21.co says that it should be enough to use 21 sat/b and get transaction in 9 hours. But I've heard that there is a minimum total sat size (around 5460) to prevent dust transfers. Please advice.

never using fee 21sat/bytes or your trnsaction can't get confirmed by the miner.

mkjtraders

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Quote from: wilkas on August 11, 2017, 11:41:34 PM

I want to send 0,01 BTC from blockchain.info to Poloniex. What is the minimum fee I can use? This site bitcoinfees.21.co says that it should be enough to use 21 sat/b and get transaction in 9 hours. But I've heard that there is a minimum total sat size (around 5460) to prevent dust transfers. Please advice.

I used 1sat/byte up to 5 byte/ sat for my micro payment transactions but it would take 1 to 7 days for 3 confirmations. I would suggest to check customize few option at different times during the day and prefer to do transaction at time when fees are at minimum due to low load of transactions.

Thekool1s

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Quote from: henmark on August 31, 2017, 02:02:21 AM

Quote from: wilkas on August 11, 2017, 11:41:34 PM

I want to send 0,01 BTC from blockchain.info to Poloniex. What is the minimum fee I can use? This site bitcoinfees.21.co says that it should be enough to use 21 sat/b and get transaction in 9 hours. But I've heard that there is a minimum total sat size (around 5460) to prevent dust transfers. Please advice.

I actually don’t know what it is. I’ve been able to make transactions with 50sat/b though it took almost 18 hours to get confirmed. I was scared that I had lost the money, or it was not going to be confirmed

50 Satoshi is not bad if you don't want quick confirmations, also remember you never lose your bitcoins, eventually if you don't get any confirmation on your transaction. Your btc will reappear in your wallet, just please don't use a wallet like blockchain.info it will just rebroadcast your transactions and you may lose your bitcoins forever.

nicosey

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Still find this the best tool to use, https://bitcoinfees.21.co/

henmark

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Quote from: wilkas on August 11, 2017, 11:41:34 PM

I want to send 0,01 BTC from blockchain.info to Poloniex. What is the minimum fee I can use? This site bitcoinfees.21.co says that it should be enough to use 21 sat/b and get transaction in 9 hours. But I've heard that there is a minimum total sat size (around 5460) to prevent dust transfers. Please advice.

I actually don’t know what it is. I’ve been able to make transactions with 50sat/b though it took almost 18 hours to get confirmed. I was scared that I had lost the money, or it was not going to be confirmed

perfect999

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I actually don’t know what it is. But I think if its an urgent transfer and you need fast confirmation you should make it a little about 400sat/b. with that you should get confirmed in like an hour. If you use something lower than that it might take hours for it to get confirmed.

Thekool1s

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By $5 i meant, a single payment of $5 from faucet, not divided ones, i do understand the other part, how the wallets combine up the addresses and sends the payments. what i meant in my previous reply was Like user waits up to till his earnings reach $5 and then withdraws and spends $3 from that in that scenario it will be helpful for the user.

Quote

TLDR; just don't accept small amounts of BTC

Exactly!

HCP

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Quote from: Thekool1s on August 19, 2017, 02:25:47 AM

hmm well that's new to me, i didn't know about that, but if the person is doing dust payments then the generating new address method be useful in my opinion. A person gets $5 from a faucet, spends $3 to buy a key etc in that case multiple address will be helpful for him, as the number of inputs will be low as compared to 1 address receiving multiple payments...

No... that's not how it works... Example:

FaucetUser gets the following payments from various faucets to his address 1bitcoinAddr:

0.00010000
0.00015000
0.00012345
0.00022000
0.00020000

So in total they have 0.00079345 btc... and it is all in one address, but it is spread across 5 inputs... now say they want to transfer 0.0005 to someone... most wallets will use something like this:

0.00022000
0.00020000
0.00012345

ie. only using enough Inputs to cover the amount transferred (+ fee)... now lets say they had 5x bitcoin addresses and got those same inputs:

1bitcoinAddr1 - 0.00010000
1bitcoinAddr2 - 0.00015000
1bitcoinAddr3 - 0.00012345
1bitcoinAddr4 - 0.00022000
1bitcoinAddr5 - 0.00020000

If they try to sen 0.005, the wallet will still use 3 inputs to make it up...

1bitcoinAddr3 - 0.00012345
1bitcoinAddr4 - 0.00022000
1bitcoinAddr5 - 0.00020000

So, it doesn't matter if those 5 inputs are all in one address... or spread across multiple addresses... they'll still need to use those 3 inputs to make 0.0005... and the transaction will be the same size.

TLDR; just don't accept small amounts of BTC

Thekool1s

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Quote from: HCP on August 18, 2017, 10:12:44 PM

Quote from: Thekool1s on August 18, 2017, 03:33:52 PM

... it's highly recommended to use a new address for each transaction or wait and get a higher payout simple. But generating a new address takes less than a second, so i don't see any reason to not use a new btc address for each transaction.

Because it makes no difference. What you are suggesting will require just as many inputs when the user tries to spend the coins... like I said, it doesn't matter if you have 1 address that gets 100 payments... or you have 100 addresses that get 1 payment each.

1 address => 100x 10k sats = 100 inputs totalling 0.01 BTC in 1 address
100 addresses => 1x 10k sats each = 100 inputs totalling 0.01 BTC spread over 100 addresses

Both methods end up with 100 inputs to make a total of 0.01 BTC... if you try to send 0.01 with either method, you're going to need all 100 inputs to do so.

The point here is that you should just avoid small payments... getting a new address for each dust payment isn't going to solve the problem. Roll Eyes

hmm well that's new to me, i didn't know about that, but if the person is doing dust payments then the generating new address method be useful in my opinion. A person gets $5 from a faucet, spends $3 to buy a key etc in that case multiple address will be helpful for him, as the number of inputs will be low as compared to 1 address receiving multiple payments. But i do agree with you, most faucet scrapers usually receive tons of payments and they get stuck moving them, in that case your option is the right one. Wait and withdraw higher amounts than lower ones.

HCP

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Quote from: Thekool1s on August 18, 2017, 03:33:52 PM

... it's highly recommended to use a new address for each transaction or wait and get a higher payout simple. But generating a new address takes less than a second, so i don't see any reason to not use a new btc address for each transaction.

Because it makes no difference. What you are suggesting will require just as many inputs when the user tries to spend the coins... like I said, it doesn't matter if you have 1 address that gets 100 payments... or you have 100 addresses that get 1 payment each.

1 address => 100x 10k sats = 100 inputs totalling 0.01 BTC in 1 address
100 addresses => 1x 10k sats each = 100 inputs totalling 0.01 BTC spread over 100 addresses

Both methods end up with 100 inputs to make a total of 0.01 BTC... if you try to send 0.01 with either method, you're going to need all 100 inputs to do so.

The point here is that you should just avoid small payments... getting a new address for each dust payment isn't going to solve the problem. Roll Eyes

Thekool1s

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Quote from: HCP on August 16, 2017, 07:13:11 AM

Quote from: Thekool1s on August 15, 2017, 03:24:47 PM

The bitcoinfee21 fees are pitch perfect, the problem you have is that you have received multiple payments on a single address which increases your number of inputs thus increasing your transaction size, so that's why i recommend everyone to never use same address for receiving more than 1 transaction. I always get quick confirmations when i use the rates provided by both bitfee and bitcoinfee21.

You realise it makes no difference if you receive 100 payments to 1 address... or 1 payment to 100 address... you'll still end up with a large amount of inputs.

The trick is to NOT receive a lot of small "dust" sized payments... if possible, don't withdraw funds from services until you can get a payment of at least 0.001 as an absolute minimum. Even that is a bit low... 0.005 or 0.01 would be better.

So if you're fauceting or cloud mining or ... avoid getting small payouts!

That's what i was saying, lots of payments, specially the small ones will hurt you in the long run, more inputs means bigger transaction size thus increasing the fee for the transaction, if the person is getting dust payments, it's highly recommended to use a new address for each transaction or wait and get a higher payout simple. But generating a new address takes less than a second, so i don't see any reason to not use a new btc address for each transaction.

HCP

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Quote from: Thekool1s on August 15, 2017, 03:24:47 PM

The bitcoinfee21 fees are pitch perfect, the problem you have is that you have received multiple payments on a single address which increases your number of inputs thus increasing your transaction size, so that's why i recommend everyone to never use same address for receiving more than 1 transaction. I always get quick confirmations when i use the rates provided by both bitfee and bitcoinfee21.

You realise it makes no difference if you receive 100 payments to 1 address... or 1 payment to 100 address... you'll still end up with a large amount of inputs.

The trick is to NOT receive a lot of small "dust" sized payments... if possible, don't withdraw funds from services until you can get a payment of at least 0.001 as an absolute minimum. Even that is a bit low... 0.005 or 0.01 would be better.

So if you're fauceting or cloud mining or ... avoid getting small payouts!

iconicrocket

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Damn, looks like I'm too late. I don't see confirmation. Used old wallet multibit 0.5.18

I see fee of 3.1 mBTC. Will this get confirm? ever?

CarlOrff

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Quote from: DreamweaverVCC on August 15, 2017, 03:51:32 PM

this sucks though :/ mempool got spammed again :/ my tx with 60+ sat/b got stucked forever.. Any idea if 60+ sat/b transaction will get confirmed?

Yes, it will, but probably in several days.
It's depends of the trafic in the next hours/days.

DreamweaverVCC

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this sucks though :/ mempool got spammed again :/ my tx with 60+ sat/b got stucked forever.. Any idea if 60+ sat/b transaction will get confirmed?

Thekool1s

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Quote from: erikalui on August 15, 2017, 01:35:40 PM

Quote from: ranochigo on August 12, 2017, 06:05:44 AM

Quote from: erikalui on August 12, 2017, 03:03:26 AM

414.444 sat/B is the current fee to get confirmations within an hour while if your transaction is not so urgent, 250 sats/B would be enough. 21 sats would make your transaction never get confirmed and even earlier it used to be 100 sats per byte.

Depends, even with fee, blocks can take quite some time to be mined. And no, that fee will still get your transaction confirmed, it would probably just take a longer time.

If you want the accurate answer with respect to protocol rules, the minimum fee is 0, as long as you fulfill the criteria for free transaction. Though I doubt miners actually include lots of them.

If your transaction isn't a free transaction, you require at least 546* satoshi per output and 0.00005BTC/kb* else, the transaction will not be relayed.

I believe you are asking what fee should you use to have a confirmation within a reasonable period of time. Blockchain.info is notorious for being extremely unreliable, you should get a reference fee from somewhere else. Bitcoinfee.21.co does have a reasonable estimation and my client is estimating 113satoshis/byte for it to have 1 confirmation within a reasonable period of time ie. an hour.

*Differs across the nodes.

I tried with 178 sats/byte and for the past week I'm not able to get even a single confirmation in an hour. It takes 3-4 hours to get 1 confirmation. Bitcoinfee.21.co does give an accurate estimate but only sometimes. Adding 400-500 sats per byte for priority transactions gets your transaction added to a pool soon. It's still the same unless the network is stuck with spam transactions.

The bitcoinfee21 fees are pitch perfect, the problem you have is that you have received multiple payments on a single address which increases your number of inputs thus increasing your transaction size, so that's why i recommend everyone to never use same address for receiving more than 1 transaction. I always get quick confirmations when i use the rates provided by both bitfee and bitcoinfee21.

erikalui

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Quote from: ranochigo on August 12, 2017, 06:05:44 AM

Quote from: erikalui on August 12, 2017, 03:03:26 AM

414.444 sat/B is the current fee to get confirmations within an hour while if your transaction is not so urgent, 250 sats/B would be enough. 21 sats would make your transaction never get confirmed and even earlier it used to be 100 sats per byte.

Depends, even with fee, blocks can take quite some time to be mined. And no, that fee will still get your transaction confirmed, it would probably just take a longer time.

If you want the accurate answer with respect to protocol rules, the minimum fee is 0, as long as you fulfill the criteria for free transaction. Though I doubt miners actually include lots of them.

If your transaction isn't a free transaction, you require at least 546* satoshi per output and 0.00005BTC/kb* else, the transaction will not be relayed.

I believe you are asking what fee should you use to have a confirmation within a reasonable period of time. Blockchain.info is notorious for being extremely unreliable, you should get a reference fee from somewhere else. Bitcoinfee.21.co does have a reasonable estimation and my client is estimating 113satoshis/byte for it to have 1 confirmation within a reasonable period of time ie. an hour.

*Differs across the nodes.

I tried with 178 sats/byte and for the past week I'm not able to get even a single confirmation in an hour. It takes 3-4 hours to get 1 confirmation. Bitcoinfee.21.co does give an accurate estimate but only sometimes. Adding 400-500 sats per byte for priority transactions gets your transaction added to a pool soon. It's still the same unless the network is stuck with spam transactions.

CarlOrff

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Quote from: wilkas on August 11, 2017, 11:41:34 PM

I want to send 0,01 BTC from blockchain.info to Poloniex. What is the minimum fee I can use? This site bitcoinfees.21.co says that it should be enough to use 21 sat/b and get transaction in 9 hours. But I've heard that there is a minimum total sat size (around 5460) to prevent dust transfers. Please advice.

With Bitcoin core, current minimum fees is 1000 sat/kgyte (less than 1 sat/byte).
You can try with this amount but you can't know the siez of your transaction with yours exchanges... too bad. You can estimate it with a minimum at 1 kb. If you use this minimum, you have to consider that your transaction can make 2 weeks to be confirmed, perhaps it will be never confirmed and you have to redo it.

Thekool1s

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Hey you can use my app on play store to get the recommended fee for your transaction, search for "bitfee" the app gets upto date data for what fee you should send with your transaction. Keep in mind the recommended fee in the app is for average transaction, if you have received multiple payments on a single bitcoin address then you might consider doubling the amount shown in the recommended fee.

wilkas

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I went with recommend 44 sat/b and transaction was completed within 12 hours.

ranochigo

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Quote from: erikalui on August 12, 2017, 03:03:26 AM

414.444 sat/B is the current fee to get confirmations within an hour while if your transaction is not so urgent, 250 sats/B would be enough. 21 sats would make your transaction never get confirmed and even earlier it used to be 100 sats per byte.

Depends, even with fee, blocks can take quite some time to be mined. And no, that fee will still get your transaction confirmed, it would probably just take a longer time.

If you want the accurate answer with respect to protocol rules, the minimum fee is 0, as long as you fulfill the criteria for free transaction. Though I doubt miners actually include lots of them.

If your transaction isn't a free transaction, you require at least 546* satoshi per output and 0.00005BTC/kb* else, the transaction will not be relayed.

I believe you are asking what fee should you use to have a confirmation within a reasonable period of time. Blockchain.info is notorious for being extremely unreliable, you should get a reference fee from somewhere else. Bitcoinfee.21.co does have a reasonable estimation and my client is estimating 113satoshis/byte for it to have 1 confirmation within a reasonable period of time ie. an hour.

*Differs across the nodes.

wilkas

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This cannot be true, because blockchain.info suggests 44 sat/b as regular fee, but warns if you try to set lower than 22 sat/b. Only the urgent transfer is above 100.

erikalui

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414.444 sat/B is the current fee to get confirmations within an hour while if your transaction is not so urgent, 250 sats/B would be enough. 21 sats would make your transaction never get confirmed and even earlier it used to be 100 sats per byte.

wilkas

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I want to send 0,01 BTC from blockchain.info to Poloniex. What is the minimum fee I can use? This site bitcoinfees.21.co says that it should be enough to use 21 sat/b and get transaction in 9 hours. But I've heard that there is a minimum total sat size (around 5460) to prevent dust transfers. Please advice.

Topic: What is the current minimum BTC transaction fee? (Read 3535 times)