I have about 0.027 BTC total, spread over 272 transactions.
Was going to send them to someone, and then the transaction fees hit me: 0.0245 BTC. This agrees with the answer to this question -- (272 txns * 180 bytes each is 49 kBytes, or 0.0005 BTC per transaction).
Then I found out about the free transaction relay policy here, which looks like it will bring things down to a more reasonable 0.004 BTC.
I'm not understanding the mechanics of setting this up, though. I can probably figure out how to do the following for the Eligius miner (I'm using the Bitcoin client with QT 4.8.3):
Add the command-line parameter: -addnode=220.127.116.11
But the rest of the mechanics, I'm not sure. Specifically:
- How do I "broadcast the transaction to it"? Can I do this within the Bitcoin client?
- Does the person to whom I'm sending the BTC also need to add this same node?
- Do I have to specify anything else within the transaction?
My goal would be to empty my wallet of all of these tiny transactions with this reduced fee.
Edit1: Is it possible to add node 18.104.22.168 using Electrum or one of the other clients?