Post
Topic
Board Bitcoin Technical Support
Re: Sent $100. $50 transaction fee! Bitcoind 0.13.2
by
TheQuin
on 20/11/2017, 10:25:13 UTC
Hi, Guys. I wondered about so high transaction fee. How I can to minimize it un future? Thanks

https://blockchain.info/tx/488b41a4351317c87a881024ee84ee632becb8755fbb69090b270bceed2d3642

First off I would recommend upgrading Bitcoin Core to latest version 0.15.1 as you are well out of date there.

As for the fees you can see the current state of the network and calculate an appropriate fee using the following sites:

https://bitcoinfees.earn.com/
https://jochen-hoenicke.de/queue/#24h

If you are not in a hurry and don't absolutely need to get confirmed in the next block I would ignore the recommended fee. For example this morning bitcoinfees.earn.com was recommending paying 310 satoshis per byte but looking at the data showing what was in the mempool I used 8 satoshis per byte and only waited 38 minutes for it to confirm.