Post
Topic
Board Bitcoin Technical Support
Re: Whats going on with Blockchain or Crypto ?
by
HCP
on 05/02/2021, 09:26:20 UTC
i have 74 USD in my block chain
when i try to transfer it says 66$ available for transfer
when i try to send there is 8 USD regular fee(mining)
Is your wallet balance made up of lots of smallish amounts of Bitcoin that you've collected from faucets/bounties/other micropayment jobs etc? Huh

If so, that would go some way to explaining the rather large-ish fee that the wallet is calculating... it will result in your transaction having a large data size (regardless of the amount of BTC being transacted)... and because fees are calculated as sats/byte (or BTC/kB)... a large data size = large fee Undecided

Additionally, the network has been quite busy the last few days. Consequently, there has been an increase in the number of transactions being made... which usually results in the mempool getting flooded and there being a large number of unconfirmed transactions. When that happens, people start paying higher and higher fees in an effort to get quicker confirmation...

And before you know it, 100+ sats/byte fees...

In addition, the blockchain.com wallet is terrible at fee estimation... it has been for a long time... it either grossly underestimates resulting in stuck transactions... or it grossly overestimates and users end up overpaying by a significant amount.