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Bitcoin Fees – How to calculate and free caught transactions

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This is a whole newbie’s information to Bitcoin charges in plain English. Learn what Bitcoin charges are, how they’re calculated, free a “stuck” dealing and extra.

Bitcoin dealing charges (typically well-known as mining charges) permit customers to prioritise their dealing over others and get enclosed faster into Bitcoin’s ledger of dealings often well-known as the blockchain.

To decide whether or not to incorporate a dealing inside the blockchain is value their whereas, miners will check out which dealing has the very best defrayment connected. Not paying decent charges can typically get your dealing caught for a really very long time.

0:27 – How miners prioritise dealings

2:43 – Feerate and hard a Bitcoin dealing defrayment

6:26 – Saving on dealing charges

8:03 – How Bitcoin wallets match charges

9:08 – How to match caught dealings

13:20 – Conclusion

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38 Comments

  1. I payed regular fees in which the wallet suggested and my BTC is still stuck in the mempool!!! how is that even possible ?

  2. when i want to purchase a product using block chain BTC after pay its shows till need to pay 0.00003167 BTC.. its solution is that
    ".Some Bitcoin wallets charge the Network Fee/Miner Fee from the BTC amount you sent to people, not from your BTC balance in your wallet. You need to change the settings in your wallet to pay the Network Fee from your wallet balance, Otherwise we will always be underpaid with small amount of BTC to the "Order Amount". (E.g. You're supposed to pay a store 1 BTC, the Network Fee is 0.001, if the Network Fee is charged from the BTC amount you sent, then the store will only get 0.999 BTC not 1 BTC)"
    But i don't know how to setting up these in my Blockchain

  3. Eventually the fees will cost too much to make sense how can bitcoin keep going up with that in mind. What is the use case for bitcoin? Is there a way to avoid the fees

  4. I paid fees for 6-24hrs turn around time

    It’s been over 24hrs and blockchain shows as unconfirmed we shall see in 72hrs

  5. If I'm selling a product and the buyer is paying me in BTC, do I need to wait until the BTC transaction is confirmed before I hand over the product? This seems like a huge inconvenience.

  6. The explanation is completely clear to me, I had a transaction that was unsuccessful and returned back to my blockchain after 72hours but yet I get error txn-mempool-conflict anytime I try to send out bitcoin, how can I resolve this issue?

  7. After 12 hours of waiting my transaction to me confirmed,it then said transation not found,please help lm so worried

  8. Hello sir ,i confirm transaction but not come to blockchain wallet.the amount is very small .how can send it again . please help me about that

  9. Can you tell me some fees that will always work I mean that is neither too low nor too high. I always use 25 sat / byte and it takes roughly 1-2 hour. It has always worked for me.

  10. Fees are mandatory? Fees that can vary depending on demand? Hmmmmm. No fees for my fiat transactions. I pay. No fee. Done. Until this clear as mud appoach is ditched I'm out.

  11. Is one of the methods for stuck txns the same as Ethereum's blockchain, where you can send a second txn from the same account with the same nonce # and a very high fee (and 0 ETH in it) so it gets confirmed and thus knocks your original stuck txn out of pending?

  12. So miners get transaction fees for each transaction added to the block, AND they get awarded new BTC (now 6.25) when they successfully add a block to the blockchain?

  13. thank you so much for clear and informative data .
    i was wondering if you help me to solve my pending BTC transaction
    actually i transfer 0.25 BTC from my trust wallet to buyer wallet and still after 2 days the situation is pending.
    so the question is that how do you think if i increase the transaction fee to solve this issue ? if so please let me know how i can do that due to i am beginner and need to do that step by step
    thank you in advance

  14. Do you think this will be the biggest challenge for bitcoin? what if i want to send a quick dollar to someone. will this hinder Bitcoin from being used as a Currency?

  15. when you really think about it, bitcoin won't be a viable option to use as alternative to currencies in the future, you wanna buy a coffee ? then you'll have to pay an extra fee on top of the price of your coffee, just so you can pay for it, that won't do.

  16. Ok, allow me to share with you something really rare and special today (I will make it short).

    I am going to share a side hustle that is really easy to start and does not take much of your time or money(it's free). All you need is a smartphone.

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    Do take note that this side hustle is not a get rich quick kind of thing. In fact, it’s not even much of a hustle. The only downside, for now, is that it won’t earn you a lot of money fast, but if you do this consistently and start early; in the long run, this may turn into a profitable return.

    All it takes is a few seconds of your time every day.

    That’s right, I said A FEW SECONDS a day.

    Here’s what it is.

    This has something to do with cryptocurrency mining.

    Wait, what? Crypto and Mining? That takes time, effort, and MONEY, right?

    Well, not with this brand new Cryptocurrency that you can mine with your smartphone.

    The best part? This does not drain your phone battery or take up resources on your smartphone.

    This is called the PI Cryptocurrency. At the moment this is very new. If this goes big and there are many reasons why it will, we stand a chance to earn some extra cash. If not, if it flops, it won’t cost you much at all. All you need to do is log in once every 24 hours.

    If you wish to mine at a faster rate, all you need to do is invite more people with your referral link.

    That’s all! It won’t take more than a few mere seconds.

    Right now (at the time of writing), each day, we can mine an equivalent of $0.20 worth of Pi coin. Not a lot, I know. But… it will pile up if you kept at it. And if this starts to gain momentum, the price per Pi coin may shoot up.

    Hence, this is a very easy side hustle that could become something BIG one day. My belief is that it can grow rather fast because of its ease to mine, easy to start and easy to maintain.

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    Mining in the crypto world has NEVER been this easy and it has NEVER been so available and at such a low COST. Plus, using cryptocurrencies in real life is hard too. But with PI, this may all change. This is truly a very smart innovation in the world of digital currencies. Hence, this could be worth your attention.

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    Use ‘Cryptcode’ as an invitational code. At this point, this app is still in BETA. This is why you will need an invitational code to join. They only allow invites at the moment.

    After this, all you need to do is log in every day. If you want to mine faster, invite people with your referral link.

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    For me, it’s a very fun thing to do. I must say it’s rather satisfying looking at the mining counter ticking and increasing every second. Plus, you can even close the app and it will keep mining anyway.

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  17. I bought$1000 of bitcoin and sent it to my wallet. It got there within a minutes time but, when it did it was only $500 of bitcoin. How is it possible that a Bitcoin ATM operator, such as BitcoinPlug, can charge me ($500) HALF of my buy in fees and get away with it? If decentralization enables and supports such despicable practices such as this, then I see no hope for cryptocurrentcy in the future! $500 in fees for a $1000 buy is BEYOND OUTRAGEOUS!!

  18. Hello everyone I'm new to this Bitcoin stuff
    I'm dealing with an agent who now is giving me a hard time about withdrawal my Bitcoin and transfer it to my bank account he tells me that my two banks aren't accepted I think I'm being scammed please help.
    [email protected]live.com

  19. Hello.. help me out I sent btc two days ago via localbitcoin.com..I checked the transaction on Tradeblock.com it says it has been confirmed.. But apparently the receiver is saying he haven't received anything yet….is it common? What is the cause and how will I rectify it?

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