Topic: What is the minimum transaction fee? (Read 23452 times)
What happens if a fee is set so low that the transaction is not confirmed within weeks or even months. Is it possible for a transaction to wait years (especially with the current number of transactions and the fees)? Is no way to cancel such a transaction?
Minimum is is 0.15 but it depends how much BTC/etc you will transact (the higher Coins the higher fee).
What is the minimum now? I've heard about a limit of 5360 sat per transaction.
What's the minimum non-zero fee that makes sense? I mean, 1 satoshi is not treated by almost all nodes as a "proper" bitcoin transaction fee. The minimum non-zero fee used to be 0.0001 BTC per 1 kb, but how has 0.8.6 or 0.9+ affect this?
I don't know much about the theory, but currently, the minimum generally accepted non-zero fee seems to be 0.0001 (ie, about 8 cents). Of course, this depends on the transaction size as you said.
The chainsnort tool is your friend if you want to see what people are generally paying for their transaction fees (last column):
https://bitcointalksearch.org/topic/ann-chainsnort-live-transaction-monitoring-and-fingerprinting-tool-373490
What's the minimum non-zero fee that makes sense? I mean, 1 satoshi is not treated by almost all nodes as a "proper" bitcoin transaction fee. The minimum non-zero fee used to be 0.0001 BTC per 1 kb, but how has 0.8.6 or 0.9+ affect this?
The minimum fee possible is 0 
has anyone tried using an negative fee value?
when you make a transaction fees are a product of the difference between the inputs and the outputs. so the idea of a negative fee would mean trying to claim that you had more bitcoins in your outputs than in your inputs. it would be rejected by the network on the grounds of ridiculousness.
The minimum fee possible is 0
has anyone tried using an negative fee value?
The minimum fee possible is 0
Sorry for the offtopic, but I’m curious why your website only has English version and no Urdu version?
English is one of the languages of Pakistan. Most Pakistani websites are in English.
Cool.
If you click on your transaction hash in blockchain.info it will tell you your priority and a guess of when it'll be mined.
You know what I really miss?
This: bitcoincharts.com/bitcoin/txlist (Don't bother visiting it, it's now 404).
I remember that page really started to get crazy once there were more than about 2000 unconfirmed transactions, but it was really good for seeing the progress of each transaction up the priority queue.
Can anyone early-adopter enough to remember that page point me to the current equivalent (if one exists)?
Edit: I found this http://blockchain.info/unconfirmed-transactions?show_adv=true but IMHO it's nowhere near as good as the old bitcoincharts one - it doesn't even show the priority number.
If you click on your transaction hash in blockchain.info it will tell you your priority and a guess of when it'll be mined.
i do 0.00011 because its just a little bit above the minimum. i get included in the next block every time.
where inputs is the # of inputs and outputs the # of outputs that are not of sufficient age.
How much is sufficient age?This is a good place for it, its based on the BTC value, age, and size in bytes of the inputs. https://en.bitcoin.it/wiki/Transaction_fees#Technical_info
Basically, the formula is priority = sum(input_value_in_base_units * input_age)/size_in_bytes where input_value_in_base_units is equal to satoshis (where 0.01 is 1,000,000 satoshis) and the input_age is the number of confirms. The size is 180 ± 1 for each input. If the priority is greater than 57,600,000 than the input/inputs are of sufficient age. The wiki page might explain this better than I can.
Sorry for the offtopic, but I’m curious why your website only has English version and no Urdu version?
English is one of the languages of Pakistan. Most Pakistani websites are in English.
I created a spreadsheet that tells you whether you need to pay a fee and how much it will be:
http://bitcoinspakistan.com/files/2013/08/Bitcoin-Transaction-Fee-Calculation.ods_.zip
It's a Libre Office Calc spreadsheet.
http://bitcoinspakistan.com/files/2013/08/Bitcoin-Transaction-Fee-Calculation.ods_.zip
It's a Libre Office Calc spreadsheet.
Sorry for the offtopic, but I’m curious why your website only has English version and no Urdu version?
I created a spreadsheet that tells you whether you need to pay a fee and how much it will be:
http://bitcoinspakistan.com/files/2013/08/Bitcoin-Transaction-Fee-Calculation.ods_.zip
It's a Libre Office Calc spreadsheet.
http://bitcoinspakistan.com/files/2013/08/Bitcoin-Transaction-Fee-Calculation.ods_.zip
It's a Libre Office Calc spreadsheet.
where inputs is the # of inputs and outputs the # of outputs that are not of sufficient age.
How much is sufficient age?
By the way, I've had http://bitcoinfees.com updated recently, including changing the default fee from 0.0005 to 0.0001.
Actual recomended fee is 0.0001BTC
That's seems more reasonable, around a penny per transaction. Remember some will send 10's, 100's, or more of transactions a day.
This also depends completely on inputs and outputs. Say you have 100 inputs and 10 outputs, this will cost 0.0019 BTC if all inputs do not have sufficient age for a speedy transaction. This generally only happens if the amounts you received are fragmented or for very large transfers. The actual formula is:
(inputs * 180) + (outputs * 34) + 10 ± inputs
where inputs is the # of inputs and outputs the # of outputs that are not of sufficient age.
Actual recomended fee is 0.0001BTC
That's seems more reasonable, around a penny per transaction. Remember some will send 10's, 100's, or more of transactions a day.
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