Post
Topic
Board Development & Technical Discussion
Re: Bitcoin Fees - $59! Holy shit!
by
thecryptogiant
on 24/10/2017, 11:03:45 UTC
I have no idea, he didn't say it on his vid. Does the size of the transaction mean how much money he's sending? I thought the whole idea of Bitcoin is that it doesn't matter if you send 1 cent of 1 billion dollars, the fees should be the same.
This idea can still be correct. What increases the transaction size is the amount of inputs and outputs of the said transaction, and not how many Bitcoins have been sent. Usually, a transaction with 1 input and 1 output is equivalent to 250 bytes, independent if this input is worth 0.005BTC or 50BTC.

If you want to read more about the subject:
https://bitcoin.stackexchange.com/questions/1195/how-to-calculate-transaction-size-before-sending
https://www.reddit.com/r/Bitcoin/comments/5eecuq/what_determines_the_transaction_size_or_number_of/
Think you for this information ,so if i sent like 100btc will it increase the transaction value?
you says 50 as max size of transaction.
actully i am quite new to this and want to do transactions with minimal cost.