Hi Folks
Can someone help me with transaction fees please?
I thought it was possible to send bitcoins without any transaction fees. But it appears I am wrong. Is there something I am missing?
Thanks
You can do.
Calculation is:
(BTC in Satoshi * confirmations)/size > 57600000
So you you want to send 5 BTC for free, size of transaction is 250 bytes.
(500000000*x)/250 > 57600000
--> x > 28.8
So you need 29 confirmations before sending 5 BTC without fee with immediate confirmation.
Remember, all inputs must be > 0.01 BTC as well.
Sincerely, Nigeria Prince (Bitcoin expert)