Questions tagged [transaction-fees]

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

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3
votes
4answers
422 views

How to get the general population to pay more in transaction fees?

When mining becomes less profitable* what options are there for miners and mining pools to persuade or insist that end users pay more in transaction fees? I'm interested in Specific code changes ...
7
votes
2answers
4k views

What is the minimum transaction fee used for?

I have the bitcoin-qt client running on Ubuntu 12.10 and I see a transaction fee box in the preferences, but I am unsure of what it actually means - the wiki is overly complex, and I am unable to find ...
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 ...
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-...
3
votes
1answer
790 views

Between which locations are transfers using Bitcoins cheaper than PayPal for 100$?

I believe that once it becomes significantly cheaper to transfer money between countries using Bitcoins, its usage will increase significantly. My question is, therefore, between which countries will ...
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 ...
3
votes
2answers
568 views

Why are some transactions larger (in bytes) than others?

There's this transaction: http://blockchain.info/tx/2588df59035129de0f0cb20d2cb5d77d18830043aa68ad2a1a2df7d727bc7a62 that is 802 bytes but for only 1.4BTC Another transaction: http://blockchain.info/...
3
votes
1answer
248 views

Are there any miners that will always include microtransactions even when no fee is paid?

There is a node that will always relay every transaction, regardless of whether its amount is acceptable and whether a fee was paid. This node is described in the Free Transaction Relay Policy page ...
2
votes
2answers
306 views

Alternative incentives for miners

Currently the incentives for miners are the block-awards and transaction fees. Suppose I want to create a Bitcoin-like hash-chain for other purposes than storing coins (for example: storing messages), ...
4
votes
2answers
1k views

Bitcoin Transaction Fee

Does the bitcoin transaction fee depend on the number of addresses in the proverbial from field or the number of transactions that led to the balance in the addresses in the from field. eg: I have 10 ...
-4
votes
1answer
1k views

Fundamentals of a Bitcoin Lottery [closed]

I'm relatively new to Bitcoin but love the idea and will soon be accepting bitcoin in my own companies. (We provide online training/e-learning.) But, just for fun I've set up what I would like to ...
7
votes
4answers
1k views

Will transaction fees eventually make microtransactions not worthwhile?

It seems that one of the strengths of Bitcoin is the ability to send tiny amounts across the globe. If we keep thinking in USD or EUR, we'll wipe out micro transactions altogether (less than 100 ...
7
votes
1answer
321 views

How to do precise accounting with bitcoind?

I'm considering making a service that would be handling user deposits in Bitcoins through a server running bitcoind. Upon purchasing something through the service, I want to withdraw the precise ...
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 ...
6
votes
1answer
261 views

Do any pools discriminate against some transactions?

Are there any pools that openly discriminate against some transactions? For example, they only put transactions with a fee in their blocks, thus ignoring all "free" transactions?
2
votes
1answer
440 views

If Fees Were Paid In US Dollars, What Would They Be?

Assuming all Bitcoins had been discovered and fees were paid in US dollars (please ignore the obvious problems), what would an appropriate fee be? Would it depend on the size of the transaction? How ...
1
vote
0answers
465 views

Move all coins from an address via RPC

Let's say I generated some coins with a given address and I want to send a specific amount of coins to a specific addresses, and move the remaining balance to another specific address. I want to do it ...
5
votes
1answer
1k views

Sendmany transaction fees

How high are transaction fees for "sendmany"? Is it correct that using "sendmany" i can send Bitcoins to multiple addresses but only have to pay the transaction fee once?
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 ...
4
votes
2answers
1k views

Does the amount of the transaction fee affect the priority of a transaction?

I've been reading about transaction fees here. From the aritcle, Transaction priority is calculated as a value-weighted sum of input age, divided by transaction size in bytes: priority = sum(...
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? ...
7
votes
2answers
986 views

Will fees be charged when importing a key to my wallet?

When the option to import/export keys is implemented, will fees be charged in this kind of transaction? My friend exports a key from their wallet with 2 BTC. My friend sends me this exported key by ...
4
votes
1answer
227 views

Where can I set the fee value for accepting transactions?

If I run a miner where can I set the fee value to accept transactions in the bitcoin client?
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 ...
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?
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 ...
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 ...

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