reply on: Why Are On Chain Transaction Fees So Low Now? \ stacker news ~bitcoin

75 sats \ 10 replies \ @IamSINGLE 28 Jul \ parent \ on: Why Are On Chain Transaction Fees So Low Now? bitcoin_beginners

I just can't get it that's why I asked. Please tell me, What would be be the cost if I send one million sats to my wallet?

66 sats \ 4 replies \ @random_ 28 Jul

Given a tx with 1 input and 1 output, onchain size would be 192 vbytes.

192 vbytes x 5 sats/vbyte = 960 sats = 65 cents at $68k/btc

https://bitcoinops.org/en/tools/calc-size/

0 sats \ 1 reply \ @IamSINGLE 28 Jul

So, this means that if I transfer 1 BTC to my Cold Wallet, it would cost me only 960 Sats?

0 sats \ 0 replies \ @random_ 28 Jul

Depends on the number of inputs/outputs and script type. But yea, it's independent of amount. Use the calculator.

0 sats \ 1 reply \ @Radentor 28 Jul

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10 sats \ 0 replies \ @random_ 28 Jul

Ligma says otherwise.

11 sats \ 1 reply \ @siggy47 OP 28 Jul

I can't tell you exactly what it would cost, but it would be as cheap as I can remember it in the past few years. Of course part of it could be fiat price, but if I recall correctly when prices were at or near this level in 2021-2022 fees were far higher.

75 sats \ 0 replies \ @IamSINGLE 28 Jul

Ohk! Thanks! Will make a transfer in one or two days and will know.

0 sats \ 0 replies \ @OT 29 Jul

Doesn't matter how much you send. It matters how many inputs/outputs. 1 input and 1 output costs around 4-500 sats at the moment.

0 sats \ 0 replies \ @02d769cb73 28 Jul

looking at joho 24hr by count, it looks like next block confirmation is around 4-5 sats per vbyte at the moment

https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,count

11 sats \ 0 replies \ @Radentor 28 Jul

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