This system is quite complex to understand, so most portfolios have their own estimation system, which will implicate you. A standard UTXO transaction + an output is about 200 bytes. Here, your transaction will have a lot of data (it will be more than 10 KB). Your transaction then has 300 UTXO and 3 outputs. The address you use for this purpose includes 0.5 BTC, from the bitcoins you have collected by selling e-books to 0.01 bitcoins (500 sending addresses). You wish to offer 0.1 BTC to your three children for Christmas. There is little data, so its weight is low (in this case, in the 200 bytes). It’s a bit complex, so to illustrate: - You want to send 0.2 bitcoins to a friend from an address, where the bitcoins come from a Coinbase withdrawal: 1 “un-spent exit” from Coinbase + 1 output to your friend’s wallet. By default, if one of the UTXO has more bitcoins than what you want to send, this one will be selected. “UTXO” is the total number of addresses that have sent bitcoins to your address. There is usually only one, but for example, a business that wants to send 0.001 BTC to 50 customers will broadcast a single transaction of 0.001 BTC, to 50 different addresses. The size depends on the number of “unexpended exits” on your sending address, as well as the number of exits. Thus, to have the total costs required by your transaction, you need to know its size in bytes. A sat = a satoshi = a hundredth of a millionth of bitcoin (0.00000001 BTC), the smallest unit of the network. Thus, the more you attach fees, the higher your chances of seeing your transaction selected and then included in a block, which will be mine and written on the blockchain. Transaction fees : Miners choose their transactions in the mempool (memory space dedicated to pending transactions) according to the fees associated with them (to maximize their reward). which should I choose, to be sure that my transaction will pass on the Bitcoin network? Can you tell me more about what these terms mean in my Electrum wallet? - Dynamic costs.
Indeed, I see this, in the next block, or within 5 block 2 sat / byte.
#Electrum dynamic fees how to
Hello, I’m trying to know how to use the transaction fees with electrum.
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