Quote from: eleuthria on June 27, 2014, 04:50:11 AM

Quote from: psahx on June 27, 2014, 03:55:28 AM

Quote from: kkurtmann on June 26, 2014, 09:11:10 PM

I set my payout to 1 BTC, I use to get 4 per month now I get two. when it goes down to 1 per month I may set the threshold to .5 BTC if I don't upgrade my hardware. when I go to spend those BTC, I do so with no fees. I don't know what kind of example you are looking for.

I just wanna know, how you manage to transfer BTC, without paying fees. Lets assume I have 1 BTC, which I received from my pool with one single transaction. What do I do (beside changing transaction fee to 0 in the wallet settings), to transfer 0.5 BTC without paying a fee? Will this be confirmed? When?

These questions bother me a lot, cause the way I understood the TX fee process, is that miners choose which TX to include in their blocks. And if someone is not paying the fee, the TX might not be confirmed at all...

Thank you.

When you try to send coins, you do so by picking inputs (payments you've received) which are equal to or greater than the amount you want to send. The extra amount is sent back as change to yourself, and sometimes a piece of your inputs are used to pay a transaction fee.

The need to pay a transaction fee is based on the priority of your transaction. This is determined by the "coin age" of your inputs. Generally, "1 coin day" worth of age is high enough to avoid fees, as long as the transaction isn't huge. A "coin day" would be 1 BTC with 144 confirmations, which is the target number of blocks in an average day. If your input is 0.5 BTC, it would need 288 confirmations. If it's 0.1 BTC, 1440 confirmations.

There's a few other caveats to a "no fee" default transaction. These are: All the outputs are at least 0.01 BTC and the transaction is under 1 KB in size. Both of these are fairly easy to meet as long as your wallet isn't full of small inputs.

More detail is included here: https://en.bitcoin.it/wiki/Transaction_fees

Keep in mind that these are the default rules. There's a few other things that can create delays, such as other similar "qualified free transactions" with a higher priority than yours. By default bitcoind only allocates a specific amount (17 KB IIRC) to processing no-fee + high priority transactions.

Good info to know! Thanks for posting this Grin