Post
Topic
Board Bitcoin Discussion
Re: What happens with blockchain fees?
by
pawanjain
on 14/12/2017, 13:44:13 UTC
Man I think you've messed up with the transaction fees, $16.37 is the fee to have your transaction mined on the next block within 10 to 20 minutes of waiting to get confirmed, you can customize that down to $10 for the waiting of 1 to 2 hours to have the transaction mined within six blocks that's a huge fee to transact, other wallet providers offer cheaper fees for the transaction, you should be careful next time with fees as you can't refund the excess amount.
He is absolutely correct. The current fee is around 380 satoshis per byte according to https://btc.com/stats/unconfirmed-tx .
Which wallet are you using ? It must be surely the wallet that is over charging you for your transaction. As per the current fee it must be around $15 for the transaction fee to be confirmed on the network. Your wallet is charging you around 10 times more fee than it should. You should definitely consider changing the wallet. Import the private key/passphrase of your wallet into some other wallet (I would recommend Mycelium) and then try to broadcast the transaction again.