Quote:
Originally Posted by WhatisROI
Yikes... Is there any general rule of thumb for how much to give as a fee so I don't end up waiting long? A percentage seems tough to gauge but on a 650 dollar transaction what would you normally give in your estimation? A couple of dollars? Appreciate the information and I apologize if I haven't done my due diligence.
Posted this the other day, this site shows the fee/byte and estimated wait time, plus the optimal fee:
http://bitcoinfees.21.co/
A transaction with 1 input and 1 output will be 226 bytes. Blockchain, at least mobile version, doesn't show the size of the transaction before you send it, so its kind of a guessing game, unless someone knows how to find it. Just assume that coming from a processor, the transaction you send will have multiple inputs and the size will be 4-500 bytes.
Basically the fee relative to the $ value of the transaction is irrelevant to the miners. They prioritize the transactions with the highest fee/byte so they can make the most money on each block they mine. Honestly, unless your transaction has a ridiculous amount of inputs, 80 cents to a dollar will most likely get it through on the next block. 60 cents would probably be more than enough, but if you don't want any exposure make it a dollar.