Quote from: LuanX3 on May 24, 2017, 11:44:54 PM

Quote from: GreenBits on May 24, 2017, 11:41:34 PM

Quote from: bigmaq on May 22, 2017, 08:08:51 PM

OK with all the posts about transactions fees and transaction holds etc .. thought I'd post my experience ..

I have just transferred 2 Bitcoin from my Kraken trading account to my blockchain wallet ... cost of transaction: 0.0005 bitcoin so actual coins received in wallet 1.9995 ... 4 confirmations received within 20 minutes (19 minutes to be exact)

Personally I was expecting maybe a day for the transaction to be completed lol (especially with all the scary posts on the forum) so 20 minutes was pleasantly surprising.

LOL, it's sad that we are celebrating 20 minute txns this day and age, maybe it's time to implement SegWit dammit . But I am happy for you, this is rare occurrence nowadays Wink

unless you want to pay ten percent on a ten dollar transaction.

He got lucky or krken placed a higher fee than 0.0005. Actually fees are not calculated by how much you transact, but how many inputs and outputs are there. Kraken, like other sites, asks their users to pay a fixed amount in fees and they will likely put a 150-250 sat/kb fee, which will be 1-5 blocks. Luckily you got in the 1 block.

My bad, wasn't insinuating that the fee was proportional, was pointing out an excessive fee is the only way to get the job done at the moment (ironically, in Mycelium, this recently resulted in a greater than a dollar fee an a roughly 10 dollar transaction. It was priority, but damn.)