Questions tagged [transaction-fees]

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

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150
votes
10answers
343k views

Why is my transaction not getting confirmed and what can I do about it?

I sent a transaction without (or with an exceptionally small) transaction fee using extremely small or unconfirmed inputs while the stars were not standing right. For whatever reason, I have been ...
124
votes
10answers
44k views

How much will transaction fees eventually be?

Some people keep evangelizing that Bitcoin transaction fees are much lower than in PayPal or with credit cards. However, once nearly all 21 million bitcoins have been mined, the network will still ...
60
votes
3answers
74k views

How to calculate transaction size before sending (Legacy Non-Segwit - P2PKH/P2SH)

I know that I pay the transaction fee per kB, so how can I calculate how large the transaction will be before I send it via the RPC api. I run a site using bitcoins, and I cannot let the user's ...
38
votes
10answers
161k views

How to unstuck a low-fee transaction with blockchain.info?

I've sent a transaction from blockchain.info, but accidentally included too little fee. What can I do to cancel the transaction or speed up the transaction's confirmation? This is a complementary ...
37
votes
3answers
38k views

Who gets Bitcoin transaction fees?

Whenever I send bitcoins from one wallet or one exchange to the next there is always a fee. This makes sense with the exchange sites, they are just collecting the fee so they can make a living. What ...
27
votes
2answers
14k views

How can I combine all the tiny amounts I've received to minimise transaction fees, and do I need to?

Important parts in bold, for those who don't want to read the detail! I've received lots of tiny transactions, in amounts sometimes as low as 0.000003BTC. Even though I've also received (relatively) ...
26
votes
4answers
15k views

How do miners select which transactions to include in a block?

Where and how do you view and select which transactions to include in the block you are trying to create? Do you look on the blockchain? Is there some tool that you can use that allows you to see ...
25
votes
2answers
3k views

In order to reduce fees, can I 'consolidate' my wallet by sending the entire balance to a new address in the same wallet?

My balance is currently made up of lots of small amounts I know I'm not going to be using my bitcoin wallet for a while, so I don't care if the consolidation transaction is slow. Would creating this ...
19
votes
2answers
6k views

What happens if my transaction is not accepted because I did not pay fees?

I was reading this thread about a client fork that does not force transaction fees and I noticed the big red warning saying that some coins might get lost if I am not careful. What does this mean? ...
18
votes
1answer
1k views

Are Bitcoin transactions permitted to have no outputs (i.e. all inputs become transaction fee)?

I am interested in the possible use of the Bitcoin (or other altcoin) blockchain as a generalized distributed ledger, meaning that it is useful for tracking information other than coin transactions ...
17
votes
3answers
4k views

Why does bitcoin have so many digits if I cannot move anything freely under 10000 satoshi?

So I have a wallet which has a balance of BTC 0.00005493. Even when trying to send these last bitcoin with a custom tx fee (1000 satoshi vs. the recommended 10000) Blockchain.info gives an error ...
16
votes
1answer
1k views

What happens when a miner does not claim all fees/generated coins?

Suppose that a miner for some reason has the generation transaction of their blocks not take all the possible coins. This can happen for a variety of reasons, almost all of which are bugs: An off-by-...
14
votes
1answer
13k views

How Ripple is different from Bitcoin and other crypto-currencies? [duplicate]

How Ripple is different from bitcoin and other crypto-currencies? What does Ripple do that is different from bitcoin? Riple and Bitcoin are two different implementation of p2p currency and fund ...
14
votes
2answers
789 views

Why does the age of the coin in my wallet matter?

When a new transaction is made, the client seems to prefer older coins in the wallet. What is the rationale for this? Are there any cases where it doesn't make sense to strictly collect coins by ...
14
votes
2answers
3k views

Is Lightning Network a risk for Bitcoin security since it reduces miner fees?

does LN represent a risk for the Bitcoin ecosystem since it will reduce miner fees (the only income they'll have in a post-btc-minting world) and displace them into second layers? I couldn't find any ...
14
votes
1answer
1k views

Are there any pools or large miners running “child pays for parent” patch?

A feature available through pull #1647 gives the recipient of a transaction a method to help get a transaction to confirm. This feature is called "child pays for parent", and what it means is that ...
13
votes
5answers
16k views

Is it possible to add a miner's fee after you send your bitcoins?

I accidentally sent a transaction without a miner's fee and I need it to clear as soon as possible. But, as far as I can tell it's going to take days if it goes through at all. Is there any way that I ...
13
votes
3answers
8k views

What is the exact formula for calculating transaction fees?

According to the Wiki: If the blocksize is more than 250 kB, transactions get increasingly more expensive as the blocksize approaches the limit of 500 kB. Sending a transaction when the blocksize ...
12
votes
3answers
29k views

Can I earn transaction fees by running as a full node, verifying transactions, but not mining?

As I understand it, by running a full node (i.e. Bitcoin-QT) , I am helping confirm transactions and contributing to the Bitcoin network. When transaction fees are offered, do I receive these, and ...
12
votes
3answers
3k views

How are fees determined in the Lightning Network?

How are fees determined in the Lightning Network? For transactions that occur on chain, fees are determined by the availability or demand for space in node's mempools. How are they determined in the ...
12
votes
1answer
1k views

Since Bitcoin Core 0.14.0, how does a node with default settings compute the dust limit?

In earlier releases of Bitcoin Core, the dust limit was defined as an output whose spending would require more than 1/3 of its value as fees: https://bitcoin.stackexchange.com/a/41082/10845 The ...
12
votes
4answers
25k views

How to unstuck a low-fee transaction with Electrum?

I've sent a transaction with Electrum, but accidentally included too little fee. What can I do to speed up the transaction's confirmation or to replace it? This is a complementary question to Why is ...
11
votes
2answers
7k views

How to make free transactions?

I have to send a small amount 0.00001 btc to someone. The client requires a fee of 0.0005 btc (much more than the amount). This seems absurd. There should be a way to send coins for free, as mentioned ...
11
votes
2answers
4k views

Largest Bitcoin transaction fee ever paid?

What was the largest transaction fee ever paid? Assuming that payment was an accident was the sender able to contact the miner who mined that block and negotiate a full or partial refund?
11
votes
2answers
4k views

What is the minRelayTxFee?

What is the minRelayTxFee? What is it used for, what's the default value and how does the value change?
11
votes
1answer
3k views

What strategies can an e-wallet use in order to reduce transaction fees?

I noticed that most Bitcoin exchanges (MtGox, TradeHill, ExchangeBitcoins, etc.) do not charge any fees for withdrawing bitcoins. What kind of strategies can they use in order to reduce these costs?
11
votes
4answers
7k views

Is there a way to not pay the transaction fees when using the standard Bitcoin client?

I tried sending one satoshi (0.00000001 BTC) to one of my friend and the client always showed a dialog prompting me to pay 0.0005 BTC in fee, with the only options being OK (pay the fee) or cancel (...
11
votes
2answers
3k views

Can someone outline the full pros/cons of the various Replace-By-Fee proposals?

I've done some research myself, but I find that I'm either biased myself, or my sources themselves are biased. Does anyone have an objective analysis of the various proposals and their advantages/...
11
votes
2answers
2k views

How do faucets/micropayment-based services avoid/minimize transaction fees?

Sites like bitvisitor or cointube give away very small amounts of bitcoins (I actually got a payment as small as .0000035 BTC when testing). I am in the process of creating a service that awards users ...
11
votes
1answer
8k views

Getting GBP back from Bitcoin?

I have a handful of BTC that thanks to the recent interest are now worth me trying to get back into GBP that I can spend. I've done a little research, but the only methods of converting my BTC into ...
10
votes
2answers
5k views

Why don't miners charge more for high value transactions?

I know high and low value transactions take up the same amount of space in the blockchain. But wouldn't btc be more economical and fair if miners deliberatly chose transactions based on the value/fee ...
10
votes
6answers
2k views

Why can't we set fees to a fixed amount say 0.005 BTC?

The current fee mechanism is confusing and difficult to implement. The current fee system uses transaction size and the size of the block the transaction is due to appear in to calculate the fee. If ...
10
votes
3answers
6k views

How to estimate optimal fees for transaction in bitcoind?

As I understand, with the network congestion it's sometimes advisable to set a higher fee to process a transaction within a block or two. Is there some way to estimate the optimal fee through calls to ...
10
votes
4answers
3k views

How important is the fee for speed of confirmation?

I am developing a Bitcoin application, so I am sending a lot of "toy" transactions for testing, with 0 fees. But it seems that those take forever to get confirmed. (Right now I am waiting 45 minutes ...
10
votes
1answer
22k views

Concept of Validating Transactions

Trying to get my head around Bitcoin. Been watching tutorials, unsure if I still understand Alice wants to send Bob 5 Bitcoins Alice hashes the transaction with 5 Bitcoins and send's it to Bob's ...
10
votes
2answers
17k views

Does GDAX charge network transaction fees?

I've heard its free and when transferring your bitcoin out to an external wallet, but others are saying it's impossible. When I went to withdraw from GDAX I didn't notice and fees. On the withdrawal ...
10
votes
1answer
4k views

Does the Bitcoin Qt client have a minimum transaction fee?

I'm trying to transfer all of my 0.1 BTC located in one wallet to another wallet. I don't care how long it takes to finish, so I'd rather send it without paying any transaction fee. I'm new to this, ...
10
votes
1answer
4k views

Transaction priority

I'm testing some functionality on the testnet and I'm having problems with the transactions priority. According to the technical info, a transaction that has not enough priority should have a fee of ...
10
votes
1answer
3k views

Why does Armory enforce a minimum transaction fee?

When I send coins using the standard bitcoin.org client I can set the transaction fee to 0. However in Armory client there is a transaction fee of .0005 and you cannot override it to less. I was ...
9
votes
3answers
852 views

What's the most efficient way to create a raw transaction with a specific fee rate?

There seems to be a chicken and egg problem when it comes to creating a transaction that has a specific fee rate (sat/kW). In order to set a specific fee rate, you need to know what the total weight ...
9
votes
3answers
802 views

Is it possible for the miners to collude to blackmail a single wealthy address?

Imagine if a few miners who together control more than 50% of the network hash power decided to charge higher transaction fees just for addresses containing really large sums. For example, this ...
9
votes
1answer
2k views

When closing the channel for LN - how to calculate the fee for the blockchain transaction?

To be clear: Following is not about fees in Lightning Network. Following is about fees on blockchain for transaction which closes the channel in LN. Channel closing transaction can be created months ...
9
votes
2answers
2k views

Could any standard fee transaction be double spent by using a higher fee?

I realize that if somebody makes a transaction without any fees and there have not yet been any confirmations, then the transaction could be double spent by just spending the same inputs to a ...
9
votes
2answers
62k views

Transferring Bitcoins from Wallet to Wallet

Say I buy a Bitcoin from a specific market, like BTC-e, and it goes into my wallet. Is it possible for me to transfer that Bitcoin from its current wallet (BTC-e) into a wallet that I have on another ...
9
votes
1answer
25k views

Calculator for estimated TX-Fees

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 ...
9
votes
1answer
1k views

How to take advantage of the free transaction relay policy?

I have about 0.027 BTC total, spread over 272 transactions. Was going to send them to someone, and then the transaction fees hit me: 0.0245 BTC. This agrees with the answer to this question -- (272 ...
8
votes
1answer
34k views

How many transactions in One Block? [duplicate]

Block is collection of transactions.Who can decide Number of transactions per block? and How transactions are selected in block? and How does the priority works for fee transactions? Thanks
8
votes
2answers
417 views

Spending output of a low-fee transaction by following with higher-fee transaction

Suppose I broadcast a transaction A with very low (or zero) fee. Normally, it would take a long time to confirm. Suppose, then I broadcast another transaction B that spends a (yet unconfirmed) output ...
8
votes
2answers
5k views

How can I determine the number of confirmations of a transaction and its fee using the Blockchain.info DATA API?

How can I know if any given transaction has confirmations and has paid the miner's fee, using the BlockChain.info DATA API?
8
votes
1answer
414 views

What is the largest number of blocks a transaction has ever waited for confirmation?

What is the largest number of blocks a transaction has ever waited before eventual confirmation? Please exclude: Transactions with no fee Transactions delayed because of unconfirmed inputs ...

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