Post
Topic
Board Bitcoin Technical Support
Re: btc wallet features
by
bit9999
on 26/10/2017, 12:00:37 UTC
Given that network fees are variable... it may not necessarily result in a larger fee if you have 10 inputs making up your 1 BTC, as opposed to 1 input making up your 1 BTC. What WILL happen is that your transaction will be nearly 10 times as large.

10x 148 bytes vs 1x 148 bytes... As fees "should" be calculated on a "satoshis per byte" basis... all other things being equal... a transaction with 10 inputs is likely to need 9 to 10 times the TOTAL fee to achieve the same fee rate (for example, 100 sats/byte = 148,000 sats TOTAL for 1480 bytes, vs 14,800 sats TOTAL for 148 bytes).

Also, NOTE: that the transaction size isn't based on the number of addresses... it is based on the number of INPUTS. 10 addresses with 1 input each... or 1 address with 10 inputs... either way it is still 10 inputs.

It's not like a fiat bank account... you don't put ten separate 0.1 BTC inputs in BitcoinAddressA and you magically have 1x 1 BTC input in BitcoinAddressA... you still end up with 10 separate inputs!



let's assume wallet A contains ten btc addresses with each address contains 0.1 btc, for a total of 1 btc. wallet B contains 10 btc addresses but only one btc address contains 1 btc; others have zero balance. Now if i want to send 1 btc to another address, the fees for sending from wallet A will be much greater than fees required for sending from wallet B?

Also, I believe if we want to send different amount of btcs to 100 different addresses, if we do it in one transaction can save more network fees than doing them one by one. However, bitcoin core and electrum may handle this 'sendmany' function differently internally, resulting in different fees. I am in search of a wallet with its 'sendmany' function that will result in least fees Smiley