11/13/2023 0 Comments Electrum fees![]() To check whether your wallet uses compressed or uncompressed, try to export a public key. Using compressed public keys results in a smaller size with no downside, so all modern wallets use them. Some old wallets use uncompressed public keys. For example if your faucet pays per-task, try to get paid daily or weekly instead. This could be done by settling on the blockchain less often and in bigger amounts. In future situations it is best to avoid creating small outputs which are costly to consolidate. Studying the recent price of block space may help with choosing a fee rate, although using a low value and then being prepared to try again later will work too. The bitcoin exchange rate can also affect demand for block space, with more volatile times being associated with more demand for block space. Random because each transaction is generated individually so the total amount is noisy (although that averages out to be somewhat smooth at scale) and has both daily and weekly cycles, with less transactions done during the night and during the weekend. Demand for block space is random and cyclical. This tutorial achieves cheap miner fees be being prepared to wait a long time for confirmation. The bitcoin market for block space asks users to make a tradeoff between confirmation time and cost. This may not matter, for example for a static donation address where all the inputs are known to belong to the same person anyway. This procedure is potentially harmful to privacy because it uses many inputs in the same transactions which provides evidence of common ownership. Your low fee transaction is likely to be confirmed at low-demand times such as Sunday night or when the exchange rate is less volatile. If it doesn't confirm within two weeks try again with a slightly higher fee rate. Broadcast the transaction and wait for it to be confirmed.Reduce the number of transaction inputs to make it smaller if required. Make sure the fully-signed transaction is less than 100kb (100000 bytes) or else it will be non-standard and will not propagate on the p2p network.Create a "Send max" transaction to one of your own addresses.Choose a low miner fee rate in the wallet such as a 1 satoshi-per-byte (0.00001 btc/kb) or 15 satoshi-per-byte (0.00015 btc/kb).Also you need to be able to choose the exact miner fee rate. If it does not, export your wallets private keys and import them into a wallet which has the feature (e.g. Check whether your wallet has a "send max" or "receiver pays fee" feature where it sends all the coins in the wallet without producing any change left over.5 Examples of large consolidating transactions. ![]() 1 Too-long-didnt-read (TL DR) instructions.
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