Questions tagged [transaction-fees]

This tag should be used for questions related to paying transaction fees in the Bitcoin network.

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17 views

Paying only 6 satoshis/vbyte ($0.18 cents) per input in transaction fees?

I understand transactions are given priority based on the fee per vbyte of transaction data included in the transaction. When I look at a Fee Calculator I see different quotes based on the desired ...
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2answers
33 views

Can I be the transaction processor and take in transaction fees as income without mining a Bitcoin?

Can I be the transaction processor and take in transaction fees as income without mining a Bitcoin? Would the fees be so low that it is not practical? Or is it true that I have to be a miner in order ...
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3answers
200 views

How can transaction fees be explained in a simple way?

I am reading the book Mastering Bitcoins 2nd Edition by O'Reilly, and it says: Alice buys a coffee from Bob's Cafe for $1.50, or 0.015 Bitcoin So Alice pays 0.015 Bitcoin, and Bob gets 0.015 Bitcoin,...
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1answer
34 views

Could a miner set a maximium transaction fee rate?

Could a miner set a maximimum transaction fee rate? I mean validate only transactions between x and y satoshis/byte? I know is not clever. Is it possible?
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1answer
104 views

Comparing UTXO transactions with Accounts transactions

I have seen few websites that compare number of transactions and fees between Bitcoin and Ethereum. Examples: https://www.flippening.watch/ and https://cryptofees.info/ What does the high number of ...
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51 views

bitcoin feeless transactions

The mobile application cashapp specifically says I can send bitcoin to any address anywhere in the world for free. Coinbase also says they can do off the network transactions instantly and for free as ...
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1answer
24 views

Hidden fees in a transaction: How to anticipate one and avoid another?

On Bitcoin.org, the page on getting started has a button for "Buy Bitcoin". It links to page with a dialog box that appears to be an interface to the service, MoonPay. MoonPay has a page, &...
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1answer
36 views

Pros & Cons of Using the “Satoshi” Method to Track User Deposits

In this question user @lungj suggests using "satoshi" as a marker for user deposits. Another method I’ve seen used on bitcoin is using satoshis as a marker. For example, when paying for a ...
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2answers
65 views

Keeping Track of User Deposits with Bitcoin

I found the following statements about Bitcoin on the Ethereum SE: When using Bitcoin one can generate new address per user of service and save pair (address -> userId), so it is always obvious ...
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38 views

Single API to Get Fee Estimates for All Major Cryptocurrencies? [closed]

Many sites provide estimates of miner/gas fees for individual cryptocurrencies. For example, EtherScan provides gas estimates for ETH. BTC Network provides fee estimates for Bitcoin. Both of these ...
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1answer
50 views

Best way to store fund on the lightning network

Suppose that someone want to store 0.1 bitcoin on the lightning network for a period of 1 year to use services such as buying and selling things but doesnt know which one and with who yet. What would ...
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1answer
19 views

Broadcasting a transaction as a 3rd party

In a scenario I have a signed transaction from A to B and ready to broadcast. As C, I want to broadcast it but the part I am having hard time to understand is as the transaction is already signed and ...
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0answers
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How long does it take for an unconfirmed transaction to drop from the mempool? [duplicate]

I have a transaction currently in unconfirmed limbo for 24+ hours. It was from an old 0.15 bitcoin core wallet, and I guess the fee was set too low. The old version of bitcoin-qt does not support ...
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2answers
54 views

Newbie Mistake?

I'm new to crypto. Well, I bought some back in 2017, but just forgot about it. I just opened a Wirex account and transferred some btc to Prime XBT. I thought it would be cheaper than using Coinbase, ...
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1answer
63 views

What is the network mempools unconfirmed transaction expiration time?

I sent a bare $1000 multisig transaction using sendrawtransaction with a too low fee. When I create a new transaction with a higher fee, I m getting txn-mempool-conflict error, and when I use the ...
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2answers
54 views

What do they mean by “Make sure to send enough to cover any coin transaction fees!”?

When I paid a Bitcoin bill yesterday to Coinpayments.net (that's what they used), which had no problems, I spotted this text: Make sure to send enough to cover any coin transaction fees! What ...
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1answer
113 views

Why does the block explorer show a different fee rate than what I selected in my wallet app?

I know this could have something to do with the fact that I was sending from a lightning wallet, but I would like to know why the transaction on blockchain.com shows my fee as being ~6.5 sats per byte ...
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1answer
200 views

Why can't default minimum fee rate be changed to 0.1-0.2 sat/vByte?

Main question (focus on this incase you are looking to close it as "needs focus"): Why can't we change default minimum fee rate to something below 1 sat/vByte? It was done in past: https://...
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1answer
43 views

Unexplained fee in electrum to localbitcoins transaction

Unexplained fee in electrum to localbitcoins transaction. How to avoid this in future? I was trying to make a transaction from electrum to localbitcoins 120$, paid 57$ fee for the transaction. https:/...
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1answer
42 views

Are Bitcoin transaction fees competitive?

I was listening today to their conversation about the transcation fees in Bitcoin and Michael Sailor's understanding stroke me as inaccurate. Is there any direct incentive within the Bitcoin protocol ...
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1answer
54 views

Can I verify my own transaction?

I'm waiting since 16/12/2020 and i still waiting in the Mempool. Exists a way how can i verify my own transaction without a Bitcoin miner? Yes, i paid a low fee. Here you can see my transaction: https:...
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3answers
228 views

Strategies to Reduce High Transaction Fees in a Cryptocurrency Marketplace?

I’m building a cryptocurrency marketplace where users mainly buy and sell small ticket items (worth $10 - $50) using cryptocurrency. However, the "miner fees" are making it prohibitively ...
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33 views

How to set the most budgetfriendly transaction fee in Electrum?

Since the newer versions of Electrum have more options in setting the transaction fee, what could be the best possible option to send bitcoins in a quick but budget friendly way? Static ETA or ...
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0answers
31 views

Which tool can I use to calculate the best fee for a specific time?

Let's say I'm okay with a transaction to be included in a block in about 24h. The fee is obviously dependent on the network congestion. Which (online) tools can I use to calculate the optimal fee ...
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1answer
51 views

electrum increase fee from command line

is it possible to increase fee from command line in electrum? I walked through all electrum commands but can't find such command.
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21 views

Set bitcoin fee lower than minimum estimatesmartfee value

Currently when I broadcast transactions, I seem to be unable to do so with a fee below ~10^-4 bitcoin (~$2 at current exchange rate). Any 'conftarget' value between approximately 100 - 1000 yields the ...
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1answer
431 views

How do I send bitcoin to multiple recipients at once?

How do I send bitcoin to multiple recipients at once? Like this. Also, I would like to know if the reason I see people do this is for privacy reasons? As when I sell items online they usually send the ...
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1answer
91 views

Is periodically transferring Bitcoin from an exchange to a private wallet cost effective?

I'm new to this, I've read a lot about it and I've decided to start saving money on Bitcoin by buying a fixed amount every month. I know it is safer to store my Bitcoin on a private wallet instead of ...
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0answers
42 views

I am new to Bitcoin. Am I being scammed? [duplicate]

I am new to Bitcoin. I got into transaction with this woman I saw on Facebook, Olivia Jessica, a lot were mentioning her in a group so I decided to ask her how to do this thing. She asked me to join ...
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0answers
20 views

assistance in transaction fee

I need some help in transaction fee in Bitcoin Core. In Send section there is a message after Transaction fee saying "Warning: Fee estimation is currently not possible." Why is it there? ...
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1answer
42 views

Why is the source code fee calculated higher than the current bitcoin fee amount?

In python bit (https://github.com/ofek/bit/), when sending a message, it is properly 80 bytes or less (https://developer.bitcoin.org/devguide/transactions.html) fee is If it is a 4-byte character ...
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1answer
37 views

Do I have to pay taxes on a Bitcoin investment when I'm withdrawing it to my US bank account before I actually received the money?

I am new to Bitcoin investment trading, I recently invested $500 in 401trade.com and got $19,000 setting in their account, I went to withdraw $18,000 and they said I had to pay $200 in taxes and gave ...
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1answer
58 views

Where can I find a survey on different fee estimation algorithms?

I am looking for a comparison or summary of different fee estimation algorithms. Does anyone know of one? I would like to see what the best starting point is in order to see where optimization can be ...
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1answer
42 views

Sending multiple output transaction with total output exceed the total input value

I am still confused about whether it is still a valid transaction for multiple output transactions if the total output of the transaction exceeds the amount of total input. For example, there are two ...
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2answers
39 views

bitcoin-qt ignored user input for fee calculation

My blockchain isn't synced yet. Thus, fee calculation didn't work. Therefore, I chose user defined fee and entered what btc.com suggested. But my bitcoin-qt (v0.20.1) went for 255 satoshis instead of ...
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3answers
107 views

How do you reliably estimate mining fees?

I'm asking this question because sites seem to yield widely different estimates. For instance, if I want a transaction to be accepted within 6 blocks, this is what I currently have to pay according to ...
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1answer
35 views

Better fee estimation and fee/tx/mempool management in wallets

Right now mempool has 65 MB of transactions waiting for miners to be included in blocks. 90% of the transactions are below 10 sat/vbyte. I am observing this trend from last few days and think it will ...
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1answer
76 views

Change -mempoolexpiry in BitcoinCore 0.20.1

I have accidentally made a transaction with a very low fee (5 sat/byte) and I doubt that it will be confirmed any time soon. Replace-By-Fee is not available since my transaction has no change. Abandon ...
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1answer
44 views

Outrageous miners fees

My BRD wallet just charged a 27 dollar miners fee TO SEND 50 dollars worth of bitcoin!! 1/3 of 75 bucks went to a miners fee? 55e7f51a96ecd8d25a1566346bff76e2985a5aed4fe279e44d75f991cf0a993a
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1answer
65 views

Plan to decrease the fees [closed]

Is there a future plan to make the fees lower ? Will BTC block size increase after the 5G being rolled out in the world ? We could really use a Little bigger block while also developing lighting ...
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1answer
95 views

Transaction taking a long time to confirm, now it doesn't even show up on Bitcoin Explorer [duplicate]

UPDATE: Electrum now says the transaction is "Local" and now I have an option to "broadcast", should I do that? OP: So, I'm trying to spend a small amount of bitcoin on a website (...
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1answer
350 views

Can you explain some of the dynamics that drive the variations in mempool depth?

I often see mempool graphs such as Jochen Hoenicke's that show significant fluctuations in mempool depth and hence the fee needed to get into upcoming blocks. Can you explain some of the dynamics that ...
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1answer
120 views

What are fee_method and fee_level in Electrum's getfeerate RPC call?

I couldn't find any documentation on this. I found that the options for fee_method are eta, static and mempool by reading the source code. But it's still not clear to me how fee_level relates to the ...
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1answer
253 views

On my first shopping via bitcoin I get “The fee for this transaction seems unusually high. (20%)” What to do about it?

I have some bitcoins in a local Electrum wallet and wanted to do my first shopping with bitcoin from a shop offering payment via bitpay for an item costing (in USD) 20 dollar. So I went through the ...
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2answers
134 views

How can I troubleshoot whether an unconfirmed transaction that seems stuck is a problem on my end or just from high volume on mempool?

Never had transaction hang unconfirmed like this before. Granted its only been a few hours but it's not like I skimped on fees either. I always choose the default electrum fee, but when it got stuck I ...
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1answer
46 views

Will I save on miner and network fees for sending btc if I import my bitpay wallet to another wallet like electrum or blockchain?

I have a bitpay wallet that has received many small transactions. I want to send all of the funds to my trading platform, but the fees are too high after the first send each day which is as low as 1%. ...
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1answer
71 views

Given a bitcoin block, what's the easiest way to determine the minimum net fee rate (including ancestors) for transactions in that block?

Given a bitcoin block, what's the easiest way to determine the minimum net fee rate (including ancestors) for transactions in that block? A naive approach would be to just find the minimum fee rate ...
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1answer
46 views

Sending regtest Bitcoin fails with an error message. How do I resolve this error? [duplicate]

When I try to send regtest Bitcoin using bitcoin-cli: ./bitcoin-cli -regtest sendtoaddress bc1q09vm5lfy0j5reeulh4x5752q25uqqvz34hufdl 0.1 I get the error message: error code: -6 error message: Fee ...
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2answers
212 views

Can we use fee rate less than 1 sat/vbyte?

Is it possible to create, sign and broadcast a transaction with fee rate less than 1 sat/vbyte?
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1answer
52 views

How to get a wallet feerate (sat/byte) of an unconfirmed transaction?

On block explorers such as blockchain.com, each unconfirmed transaction has a desired feerate set by the wallet such as 58.000 sat/B. This is not to be confused with the actual final fee calculation. ...

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