Post
Topic
Board Bitcoin Technical Support
Re: Suggest a fee if you were in my shoes
by
unsoindovo
on 05/06/2017, 20:06:27 UTC
Transaction fees are scary 0.o

For reference: I'm using Preev and BTC-e for my bitcoin pricing.  I'm using bitcoin core 0.14.1 as a client.

Maybe I'm doing something wrong. I went to the gas station and bought $50 worth of bitcoins. I want to send $30 worth of these coins to BTC-e for a single Litecoin purchase, just to get back on my feet, it's been a while.  I'll buy more btc to stay as btc later, but for now I really want my hands on one ltc and to keep it there on the exchange.

The fee proposed by bitcoin core is 25 blocks (0.00265823) approximately $5 at this time. For a 20 minute transaction, it asks 2 blocks for 0.00424066 (approx $10).

So, for my attempt to send 0.01155 BTC ($30) to the exchange, and using the custom fee area in the bitcoin core client, how much would YOU attempt to put where it says per kilobyte, hoping for a 1-3 hour transaction?  Worst case, 7 hour, how much would you enter into the field?

this is damn high!!!
I think a quick solution to fix this problem should be found!
A lot of small miners, bitcoins and bitcoin miners, are killed by this greedy fee