Post
Topic
Board Bitcoin Discussion
Re: Very high transaction fee
by
Gaff
on 06/09/2017, 22:07:42 UTC
So now that I have my private key in Electrum, I can set the fee to what I want. Looking at https://estimatefee.com/ if I am happy with to confirm within 144 blocks ( ~1440 min), I can pay 5 satoshis/byte which will work out around $4.79.

Is there any reason why it would be a bad thing to let my confirmation take this long? I'm transferring between my own wallets, so it's not like trust is an issue.
So far,I haven't experienced high transaction fee yet because I keep on checking it though I know the fact that there should be restrictions in order to have a harmonious alignment with the transaction. I noticed that you have to be very cautious with the transaction of bitcoin through wallets because once you miss a number of each transaction is quite nerve-racking for you don't know what will happen. According to my elder brother,he keeps on telling me that I should better double check the codes because there might be a chance that somebody will get the code unknowingly. So double check every transaction so that there's no troubles to be encountered