Post
Topic
Board Bitcoin Discussion
Re: Fees increase with old wallet ($200 FEES !!!!!)
by
slyfox
on 04/01/2018, 23:06:34 UTC
Welcome to the btc world. We are in a similar situation. I have a wallet full of bounty earnings. I can't even withdraw the coins because of the fees. I have decided to leave it there. Hopefully once the lighting network is implemented.. Maybe the fees won't be so much. But I must say these high fees are just ridiculous.

Its not that bad what people portrait. Today I sent a payment of 0.42 btc with just 0.00180000 Fee. And I sent a priority high fee, Transaction was confirmed in an hour.

So why am I being quoted 0.015 BTC to move just 0.1 BTC ? I have tried both electrum and blockchain.info, and this was the cost for moving the funds out of the paper wallet at 300/sats.... the only reason why the fees are so high must be because it is a 3 Year old wallet. ?
The number of inputs is very important since that means that the size of the transactions gets bigger, one thing you can do is to consolidate your inputs, send all your bitcoin to another address you control and send with the lowest fee you can, if you are lucky you could get a confirmation in several days once you do that you can spend your bitcoin with a lower fee, and also if possible get a segwit address.