Quote from: ranochigo on July 14, 2017, 02:02:09 PM

Quote from: IGCGamers on July 14, 2017, 09:10:31 AM

what you say is for the GUI version brother. In ubuntu i don't have GUI version. Moreover, i use rpc. Hence i require the command line to be added on teh bitcoin config file. Please guide me to implement it on the ubuntu server.

For Bitcoin Core, you should really try the dynamic fee. It has a fairly decent estimate of the fees/byte to include based on the mempool info. To enable this, you can include txconfirmtarget=X into the Bitcoin.conf, where X is a positive integer and the lesser it is, the more fee it will pay and the faster it would confirm. Else, you can put -txconfirmtarget=x into the command line.

If you really want to set your own TX fee, put paytxfee=XX into the Bitcoin.conf, where XX is the fee/KB. Eg 0.001BTC/KB will be paid for each transaction. Similarly, you can set -paytxfee=XX using your command line.

Take note that paytxfee will always override txconfirmtarget. You shouldn't put paytxfee if you want to use dynamic fee(txconfirmtarget).

Thanks for your reply brother. What reasonable value will you suggest for txconfirmtarget=X

I mean what number can i replace with X.

What does -txconfirmtarget=X mean? Why - added before txconfirmtarget=X

In case if i want to set up my own tx fee, normally how many KB would be required to process a transaction(approx)? Can i set up paytxfee=0.00020000

If i setup the above value, will the transaction fee for each transaction will be 20,000 satoshis or less?

If i use dyanamic fee, what would be the approx fee per transaction? How do i check the approx fee per transaction