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I tried to send 0.00000001 btc to about 7 addresses, and paid the 0.0001 fee. But it seems like this transaction won't go through ever. Those coins are lost :(.

I have about 400 sponsors, and they should split about 0.05 btc even (and that's quite a lot of money). I'm thinking about sending them 0.0001 btc each, in one single transaction and pay the 0.01 fee or whatever it'll be.

Will that go through? What's the requirement to get transactions confirmed for sure?

Thanks in advance.

  • The coins are not lost; if the transaction never confirms, it will eventually be possible to spend them again. – Nate Eldredge Apr 3 '14 at 23:24
  • So if it get confirms.. say, 3 times.. is the transaction then distributed over the whole network? That is, will every local copy of the global bitcoin database have that transaction = "it's now confirmed forever.. it's set and done"? – user3493746 Apr 3 '14 at 23:44
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    bitcoinfees.com Also pay attention to "Discourage "dust" spam" – ChrisW Apr 3 '14 at 23:57
  • Essentially, yes. Since the block chain is a chain, you will see the number of confirmations continue to increase over time as more blocks are piled on top. The only way for this to fail is if the chain splits and your transaction is left on an isolated branch: in that case, either it eventually gets added into the main branch anyway, or it doesn't and you can spend the coins again. – Nate Eldredge Apr 4 '14 at 2:00
  • I think what this question is really about is setting a proper fee, although the 400 sponsors you want to send to is relevant but what you are really asking is how to make sure a large transaction confirms. – John T Apr 4 '14 at 8:15

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