Why are bitcoin transaction fees so high
Publish: 2021-05-14 08:16:16
1. The transaction cost of bitcoin is generally between 0.0001-0.0005btc. Of course, the amount accepted by each miner and miner's Association is different. Sometimes, a large amount of bitcoin transaction does not need a service charge, such as more than 100btc. Small transactions below 0.01btc will be charged a certain amount of fees. Of course, some bitcoin clients can set bitcoin transaction fee. If you set the transaction fee very low, the transaction confirmation time will be very long
first of all, we should understand that this service charge is given to miners to encourage them to continue mining and provide enough computing power for bitcoin, so as to ensure the security of bitcoin network. At present, the main income of miners is to get BTC reward by creating new blocks, but the reward is halved every four years. As time goes on, bitcoin transaction fee will graally replace bitcoin reward
under what circumstances should the handling charge be paid? What's the amount
bitcoin system has a series of network rules, including the handling charge rules, which are "what the client should do". When you use bitcoin client (wallet, bitcoin QT) to send bitcoin, the whole process is roughly divided into the following steps:
1. Prepare the bitcoin you want to send
the client is responsible for collecting the balance of bitcoin in your wallet (bitcoin QT) to prepare for payment, Because every bitcoin you receive is in your wallet until you spend it
if you withdraw 3btc and 2btc twice in okcoin bitcoin, their records in your wallet are independent, that is, a 3btc and a 2btc, instead of merging them into 5btc (the wallet only records transaction details, but does not merge the balance, but you can see the total balance on the interface of the wallet), As time goes on, you will accumulate a lot of bitcoin in your wallet. It is conceivable that there should be thousands of such records in okcoin bitcoin wallet. So when you send bitcoin, the wallet must decide which of the above records are most suitable for this sending
the bitcoin you get in a transaction is called "inputs" and the bitcoin you spend is called "outputs". There are multiple inputs and outputs in your wallet
2. Prevent a large number of micro payments from impacting the network
if you recharge the okcoin bitcoin trading platform less than 0.01btc (including the fund changes inside your wallet), you must pay a handling charge of 0.0001. When preparing your payment amount, the wallet has an established rule, that is, when preparing the payment amount in many inputs, try to avoid the amount change less than 0.01btc (for example, if you want to recharge 5.005btc to okcoin bitcoin, the wallet should choose 3 + 2.005 or 1 + 1 + 3.005 instead of 5 + 0.005)
3. The larger the amount, the higher the age of the currency, the higher the priority
if the amount you send is too small or your bitcoin has just been mined, then your transfer is no longer free. Each transaction will be assigned a priority, which is determined by the degree of currency, the number of bytes and the number of transactions. Specifically, for each input, the client will first multiply the number of bitcoins by the time they exist in the block (currency age, age), and then divide all the procts by the size of the transaction (in bytes). The calculation formula is: priority = sum (input)_ value_ in_ base_ units * input_ age)/size_ in_ If the calculation result is less than 0.576, then the transaction must pay the handling fee. This is why you need to add a 0.0001 when you withdraw with okcoin bitcoin, because the bitcoin transfer in okcoin wallet is frequent, and the time of bitcoin in the block is relatively short, so you need to pay a handling charge. If you do have a large number of small inputs, such as small miners, and want to transfer them out for free, you can add a large amount of bitcoin with a large currency age, and the average priority will be increased, so that bitcoin can be transferred out for free
4. Charge per kilobyte
at the end of the transfer, the client calculates the size of the transfer (in bytes), which generally depends on the amount of input and output. The calculation formula is as follows: 148 × Input amount + 34 × Output amount + 10. If the size of the transfer exceeds 10000 bytes, but the priority meets the free standard, you can still enjoy the free transfer, otherwise you need to pay the handling charge. The cost per 1000 bytes is 0.0001btc by default, but you can also add it in the client by opening the tab "settings & gt; Options & gt; The main purpose is to adjust the handling charge. If the service charge you are setting is less than 0.0001, BTC is calculated as 0.0001. When this rule applies, it will replace the rule in step 2 instead of accumulating.
first of all, we should understand that this service charge is given to miners to encourage them to continue mining and provide enough computing power for bitcoin, so as to ensure the security of bitcoin network. At present, the main income of miners is to get BTC reward by creating new blocks, but the reward is halved every four years. As time goes on, bitcoin transaction fee will graally replace bitcoin reward
under what circumstances should the handling charge be paid? What's the amount
bitcoin system has a series of network rules, including the handling charge rules, which are "what the client should do". When you use bitcoin client (wallet, bitcoin QT) to send bitcoin, the whole process is roughly divided into the following steps:
1. Prepare the bitcoin you want to send
the client is responsible for collecting the balance of bitcoin in your wallet (bitcoin QT) to prepare for payment, Because every bitcoin you receive is in your wallet until you spend it
if you withdraw 3btc and 2btc twice in okcoin bitcoin, their records in your wallet are independent, that is, a 3btc and a 2btc, instead of merging them into 5btc (the wallet only records transaction details, but does not merge the balance, but you can see the total balance on the interface of the wallet), As time goes on, you will accumulate a lot of bitcoin in your wallet. It is conceivable that there should be thousands of such records in okcoin bitcoin wallet. So when you send bitcoin, the wallet must decide which of the above records are most suitable for this sending
the bitcoin you get in a transaction is called "inputs" and the bitcoin you spend is called "outputs". There are multiple inputs and outputs in your wallet
2. Prevent a large number of micro payments from impacting the network
if you recharge the okcoin bitcoin trading platform less than 0.01btc (including the fund changes inside your wallet), you must pay a handling charge of 0.0001. When preparing your payment amount, the wallet has an established rule, that is, when preparing the payment amount in many inputs, try to avoid the amount change less than 0.01btc (for example, if you want to recharge 5.005btc to okcoin bitcoin, the wallet should choose 3 + 2.005 or 1 + 1 + 3.005 instead of 5 + 0.005)
3. The larger the amount, the higher the age of the currency, the higher the priority
if the amount you send is too small or your bitcoin has just been mined, then your transfer is no longer free. Each transaction will be assigned a priority, which is determined by the degree of currency, the number of bytes and the number of transactions. Specifically, for each input, the client will first multiply the number of bitcoins by the time they exist in the block (currency age, age), and then divide all the procts by the size of the transaction (in bytes). The calculation formula is: priority = sum (input)_ value_ in_ base_ units * input_ age)/size_ in_ If the calculation result is less than 0.576, then the transaction must pay the handling fee. This is why you need to add a 0.0001 when you withdraw with okcoin bitcoin, because the bitcoin transfer in okcoin wallet is frequent, and the time of bitcoin in the block is relatively short, so you need to pay a handling charge. If you do have a large number of small inputs, such as small miners, and want to transfer them out for free, you can add a large amount of bitcoin with a large currency age, and the average priority will be increased, so that bitcoin can be transferred out for free
4. Charge per kilobyte
at the end of the transfer, the client calculates the size of the transfer (in bytes), which generally depends on the amount of input and output. The calculation formula is as follows: 148 × Input amount + 34 × Output amount + 10. If the size of the transfer exceeds 10000 bytes, but the priority meets the free standard, you can still enjoy the free transfer, otherwise you need to pay the handling charge. The cost per 1000 bytes is 0.0001btc by default, but you can also add it in the client by opening the tab "settings & gt; Options & gt; The main purpose is to adjust the handling charge. If the service charge you are setting is less than 0.0001, BTC is calculated as 0.0001. When this rule applies, it will replace the rule in step 2 instead of accumulating.
2. The okex bitcoin exchange will charge different transaction fees according to different levels. The standard of handling charge for currency transaction and currency leverage transaction is the same. If you are not clear, please ask at any time
3. Why is there a toll station on the expressway? You have to live on someone else's platform
4. Bitcoin transaction refers to the transfer between an address and another address, which usually requires an additional service charge to miners
generally, an ordinary bitcoin transaction is composed of one input and two outputs, with the size of about 200 bytes. The default charge is 0.0001btc for every 1000 bytes, and the ordinary bitcoin transfer fee is about 0.001-0.002btc
however, e to the limited capacity of the block to hold transaction records, miners generally give priority to the transaction with higher handling charges. Therefore, when the transaction needs urgent confirmation, it is recommended to select custom charges. I also saw these in Yingfu College of Finance and economics.
generally, an ordinary bitcoin transaction is composed of one input and two outputs, with the size of about 200 bytes. The default charge is 0.0001btc for every 1000 bytes, and the ordinary bitcoin transfer fee is about 0.001-0.002btc
however, e to the limited capacity of the block to hold transaction records, miners generally give priority to the transaction with higher handling charges. Therefore, when the transaction needs urgent confirmation, it is recommended to select custom charges. I also saw these in Yingfu College of Finance and economics.
5.
The service charge of okex bitcoin exchange is the lowest in the world, ranging from 0.15% to 0.02%, and there is no charge for platform currency okb
in bybit, for each successful order, bybit platform will automatically decide to charge or provide rewards according to the order attributes. For "market makers" in the market, the system will give 0.025% reward based on the contract value for each successful price limit order
for the "price receiver" in the market, the system will charge 0.075% of the contract value based on the contract value for each successful market order. A $5 bitcoin transaction may have the same handling charge as a $5000 bitcoin transaction
they are measured by satoshis
6. I'm a member of the circle. Just don't believe me. No one knows what will happen in the end. Now we're ready to quit. Brainwashed to be rich, please continue. The routine is deep.
7. Chainstore is a professional application store that integrates all the mainstream applications of blockchain and coin circle. It integrates exchanges, wallets, quotation software, tool software, blockchain information, blockchain games, instry applications, etc. Compared with other app stores, chainstore can not only download blockchain instry applications, but also browse the latest airdrop candy information and high-quality blockchain projects. It is an app that provides comprehensive services for the blockchain instry.
8. Mobile mining or forget it, the general online said mobile mining is actually deceptive
mining is based on the computing power of CPU and GPU, but the processor of mobile phone, even the most advanced processor, is only a few cents or a few cents, so you still have to use computer mining. If you don't know anything about computer mining, you can use ha Yu miner to have a try, and you can get started!
mining is based on the computing power of CPU and GPU, but the processor of mobile phone, even the most advanced processor, is only a few cents or a few cents, so you still have to use computer mining. If you don't know anything about computer mining, you can use ha Yu miner to have a try, and you can get started!
9. It is estimated that 7500g is processor integrated, hd7500 / 7600m is unique, and drivers are catalysts. It is recommended that laptops be installed with official website drivers
for AMD al graphics card, it is generally first to install the AMD processor core graphics card driver, and then install the single display driver. There is no third driver, because the name of AMD graphics card driver is catalyst
if you don't understand, please ask. If you are helpful, please take it. Thank you
for AMD al graphics card, it is generally first to install the AMD processor core graphics card driver, and then install the single display driver. There is no third driver, because the name of AMD graphics card driver is catalyst
if you don't understand, please ask. If you are helpful, please take it. Thank you
10. Bitcoin is still in its early stage of development, and segwit, tumblebit and lightning network are also being launched one after another. The activation of these three technologies can realize the maximum expansion of bitcoin network and build it into an efficient settlement system. By then, bitcoin transaction fees will no longer be a potential crisis.
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