First of all, this refers to
- How to calculate transaction size before sending
- What is the exact formula for calculating transaction fees?
I want to estimate the TX-Fee I would have to pay in a simple scenario where my wallet contains only 1 address Z that has received X payments.
I then want to pay all the wallets balance to Y different addresses at once.
Because I want to spent all of its balance, it would be great to know the transaction-fee, so that I can reduce Y, or pay the fee to Z in advance.
Since I prefer a worst-case-calculation, is it legit to count every incoming payment to my address as Input?
Is the following calculation correct?
normal_fee := 0.0005 // Taken from Bitcoin-QT size := X * 148 + Y * 34 + 10 +- X fee := normal_fee / (1 - size / 500kB)