I have a problem with blockchain.info.

I want to send some Bitcoin but fees are very high, $100 for a $1000 transaction. My wallet balance has a lot of tiny transactions.

I also got this message when trying to make a payment:

Your wallet needs to consolidate many smaller payments you've received in the past. This requires a relatively high fee in order to be confirmed quickly.

What can I do to have ordinary fees?

  • You should probably wait until the feerates on the network are lower before trying again. – Pieter Wuille Dec 19 '17 at 7:16

You cannot change this. It is a design limitation of the network. Continuing reading for an explanation.

What blockchain.info is referring to is the data size of your transaction. Bitcoin fees are based on the data size of the transaction, usually marked as a btc/byte value.

Transactions can vary a great deal in size because of the number of inputs and outputs. Any bitcoin address you have is actually made up of all the inputs it has received. If you have received 10 transactions into a single address, emptying the address will require all 10 of those inputs plus at least 1 output. This adds data size to the transaction, therefore it requires a higher fee.

Blockchain.info is telling you this is the case with your address, and it's not particularly unusual. I had an old address that served as my mining receiving address for several years. It just collected mining profits in small chunks over all that time. When I finally decided to move all of it, there were 72 inputs and one output, amounting to a massive fee. It kind of sucks, but that's one of the limitations of the network.

One thing to note is that mining fees are entirely unrelated to the value of bitcoin or the sum of the transaction outputs. Fees are only based on the data size of the transaction. A 100 bitcoin transaction with only one input and one output will be a significantly less fee than a 1 bitcoin transaction with ten inputs and ten outputs.

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  • Ok thanks for explanition.. can i move my money to another wallet with a very small customize fees ?? i send one payment with for example 20 satoshies to another wallet ? and then send them to the exchange with small fees ? i can wait some time until the transication done becasue of small fees ! – Pharmacist Ahmed ali Dec 13 '17 at 22:50
  • @PharmacistAhmedali You can set any fee you want in most wallet clients. The issue is that miners may not take your transaction if the fee is not high enough. Blockchain.info is what they call an online managed wallet. You have control over it, but ultimately, blockchain.info has total control over the balance. It's usually more convenient, but if they fail, you will likely loose your bitcoins. Also, sometimes they have less features, as you apparently report you can't set the fee. A "local" wallet gives you total control. – frеdsbend Dec 13 '17 at 23:04

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