I just found out it costs 0.0005 BTC to send out 0.0005 BTC Totalling the amount to 0.001
I was wondering what is the minimum
BTC to send in order to avoid transaction fee? And who does it benefits?
Fees are controlled at least 3 ways. The block size limits. If the block size limit is reached then only the transactions with large fees will be included. the miner has the choice to include transactions that have zero fees but there is no profit for then and it is extra work so little motivation to include fee less transactions. the user base could also agree to only use a much smaller fee. I remember sending transactions last year with a .1 BTC fee. seems ridiculous now but I suspect that the current .0005 fee will go down in the future and seem almost as ridiculous
Epi.