I just created a transaction to send 20 mBTC. The transaction fee was more than for a previous 25 mBTC transaction that I sent. Why is that?
I'm using the Bitcoin Wallet App, vers. 5.24 by the Bitcoin Wallet developers.
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Possible duplicate of bitcoin.stackexchange.com/q/43154/5406– Murch ♦Jul 2, 2017 at 16:01
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2 Answers
Transaction fees in Bitcoin are not dependent on the amount of value transferred, but on the amount of blockspace purchased.
When you try to send a transaction, your wallet will select a subset of the available unspent transaction outputs in your wallet to fund the transaction. In this particular case, it could have selected a larger number of inputs to fund the 20 mBTC transaction, and a smaller number of inputs to fund the 25 mBTC transaction. It could also be that the transaction fees just changed significantly between the two transactions which happens almost regularly over the course of the day or week.
downvote because question is short and unclear. On the one hand side, you could read up the story on fees. There are tons of data on fees. On the other hand side: why bitcoin Wallet developpers? Do they define the amount of fees? What is your pre-assumption here? You are in the bitcoin world, where the rules define a fee market. And if everyone wants their tx to be processed very fast, fees rise. But just a hint: the market is cooling down, and I just did a transaction with 10mBTC. So the heating seems to be over at this particular moment. Current market conditions are here: https://bitcoinfees.21.co/, and here: https://blockchain.info/de/charts/mempool-size
answered Jul 2, 2017 at 14:10
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The asker is apparently using the Bitcoin Wallet App (initiated by Andreas Schildbach) which lists their originator as "Bitcoin Wallet developers".– Murch ♦Jul 2, 2017 at 16:03
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gosh, my fault. @Leimbacher: apologies, I must have caught s.th. wrong in your question. Murch: thx, you corrected the downvote. Jul 2, 2017 at 19:22