Questions tagged [transaction-fees]

Fees paid by the sender to the miner as payment for confirmation of the transaction on the Monero network,

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17
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2answers
4k views

How does the dynamic fee calculation work?

A pull request on github for dynamic fee calculation was just submitted. How does this new dynamic fee calculation work?
14
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3answers
397 views

How will transaction fees be calculated after RingCT?

I read that RingCT will bring transaction sizes close to about 13kb. How much larger would a mixin=4 Monero transaction be compared to a Bitcoin transaction? Based on a 13kb size, it would be about ...
14
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2answers
439 views

Why are the fees hard coded?

Most cryptocurrencies let you choose your fee. Why does Monero use a hard coded fee? Edit: Or rather I should say why is the minimum fee hard coded.
13
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2answers
252 views

Ability to choose your own transaction fee

When using simplewallet and bitmonerod transaction fees are calculated based on the mixin and outputs being used in a transaction. During times where network usage is high, is there an ability to ...
13
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2answers
562 views

Calculate fee before sending while using RPC calls

Is there any way to find out what the fee of a certain transaction will be before sending it, via RPC calls? As a side note, is it possible to see the transaction fee on a transfer via RPC from the ...
10
votes
3answers
1k views

How does Monero's transaction fees change according to price?

I understand that Monero uses high xmr/KB fees in order to prevent blockchain bloat, like what happened in the '2014 hack'. If I understand correctly though, Monero will decrease the transaction fees ...
10
votes
2answers
230 views

How is the quadratic miners penalty calculated

For blocks above the median block size of the last 100 blocks but below the 2x the median block size dynamic cap a quadratically increasing penalties is applied to miners. How is this penalty ...
10
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1answer
193 views

Can miners choose to accept lower fees?

Currently, transactions cost at least 0.002 XMR per kB. If a miner includes a transaction with a lower fee, will his block be rejected by the network?
8
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2answers
229 views

Does Monero use replace-by-fee?

Replace by fee is a proposed mechanism for bitcoin (that has not been adopted) by which 0 confirmation transactions can be "undone" by submitting a transaction with a higher fee. Technically, this ...
8
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2answers
2k views

How does the dynamic blocksize and the dynamic fees work together in Monero?

This mechanism is unique to Monero because it's the only cryptocurrency to have both blocksize and transaction fee dictated by an algorithm, how was this achieved and what is the rationale behind such ...
8
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2answers
298 views

What is the fee structure introduced in 0.10?

In Wolfram Warptangent (Monero v0.10), a new fee structure was introduced, in addition to decreasing the minimum tx fee. What is the current fee structure?
8
votes
2answers
245 views

Usage of a zero mixin (ring size =1)

Zero mixin (ring size=1) transactions are no longer allowed (except for sweeping dust). When they were allowed before the March 2016 hard fork they were quite common. Is there evidence to support ...
8
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2answers
53 views

Will the dynamic fee algorithm under development be a wallet side calculation or it will be a consensus rule?

Will the dynamic fee algorithm under development be a wallet side calculation or it will be a consensus rule? I ask that question because if the dynamic fee algorithm is a censensus code rule, making ...
8
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2answers
276 views

Ring CT and transactions fee

With the future implementation of RingCT, transaction amounts will be hidden. How will a miner determine if a RingCT transaction includes a sufficient enough transaction fee to be included in a block?...
7
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2answers
8k views

Why does monero have higher transaction fees than bitcoin?

median and highest fees source: monero.how
7
votes
1answer
5k views

How to calculate exact Monero transaction fee?

I assume that transaction fee is deducted from the transaction amount, i.e. if Alice sends Bob 10 XMR, then Bob will receive (10 - tx_fee) ~ 9.x XMR I don't know how precise https://www.monero.how/...
7
votes
1answer
163 views

Can a transaction signed by a cold wallet be broadcast sometime far in the future?

Could someone sign a transaction, encrypt it with a (2,3) Shamir's Secret Sharing scheme with one key to signer, one to trustee and one to beneficiary? Then after death sometime years from now could ...
6
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3answers
178 views

Are there any fair strategies to dynamically adjust the transaction fee?

As of writing this the transaction fees are 0.01 XMR per KB. This was a reasonable fee when Monero was worth less, however, if XMR retains it's new found value or continues to rise in value against ...
6
votes
3answers
172 views

After major coin issuance, what must the minimum XMR price be to incentivize network security?

I'm curious about the tail emission and transaction fees after major coin issuance. What is the minimum value that 1 XMR must sustain as an incentive for miners to continue maintaining network ...
6
votes
3answers
115 views

Why does proposed transaction fee fluctuate heavily sometimes?

I have enabled the always-confirm-transfers feature for my wallet, just to see the proposed transaction fee before I confirm the transaction. I have noticed that it sometimes fluctuates quite heavily ...
6
votes
1answer
479 views

What effect has the increase of minimal ring size from 5 to 7?

How will the scheduled increase of ring size in the current hard fork v7 affect security/privacy, transaction size/fees and verification time? Is there a reason why exactly 7 and not 10 or maybe 20?
6
votes
2answers
2k views

What does “Error: Failed to find a way to create transactions” in simplewallet mean?

I get this error message when I try to send the full balance from monero-wallet-cli / simplewallet. Reducing the amount to cover the fees makes the error message go away. So does this simply mean "...
6
votes
1answer
164 views

Will a large and sustained increase in Monero transactions resolve the current issues of the dynamic block size penalty function?

The fee algorithm has not readjusted as intended following the dramatic increase in median transaction size which came with the upgrade to RingCT transactions. A conclusion reached on the subject has ...
6
votes
1answer
114 views

How are dust and fees related?

When sending a transaction now, I get the prompt: The transaction fee is 0.010000000000, of which 0.006000000000 is dust from change. Is this okay? (Y/Yes/N/No). What does that mean, is it that the ...
6
votes
1answer
304 views

How do you calculate the size of a Monero transaction before it is sent?

Given the number of inputs, number of outputs, and mixin count, what is the formula to calculate the expected size (in bytes) of the resulting Monero transaction? For comparison's sake, in Bitcoin, ...
6
votes
1answer
333 views

Is it possible to set the priority / fee multiplier below 1?

I just read an article on Coindesk about gas price explosion of ETH due to its price spike in recent months. There is an example of a "smart contract" of a simple user registration, which was around $...
5
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2answers
1k views

What's the smallest transaction you can send?

For example, what if I want to send a person 0.001 USD in Monero to his wallet, would it be possible?
5
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3answers
1k views

Is there a way to tell how many coins are currently generated?

Is there a way to show how many coins have been generated so far taking in to account the transaction fee's paid by senders? For example if 1000 coins were generated ( issued ), and 10 transactions ...
5
votes
1answer
197 views

Why can I not choose my own custom transaction fee? Does this affect privacy in anyway?

I was just wondering why users do not have the ability to have their own custom fees and if by allowing users to choose their own fees would this badly affect privacy in anyway?
5
votes
2answers
185 views

Are 0-output transactions possible?

Is it possible (as in allowed by consensus, not doable with today's software) to create a zero-output transaction in Monero? In other words, is it possible to create a transaction whose inputs are ...
5
votes
3answers
3k views

how is the transaction fee calculated?

I've tried Monero-wallet-cli, and following are two transactions: 0.01 XMR by 526 bytes: http://moneroblocks.info/tx/99dae4c9ec68c8b4eb7f9f40a2c01f481d3b979ce97b5e0b2b5f55c759be11f6 0.008 XMR by ...
5
votes
1answer
264 views

Is the high transaction fees problem addressed in the upcoming monero v7 upgrade?

I've read the official release notes for Lithium Luna but there is no mention of any solution for the problem. At the same time I saw on twitter/forums some devs comment that it is addressed. Does ...
5
votes
1answer
107 views

Why are Monero fees visible?

I was checking in moneroblocks.info some random transaction just to see how they are composed, and I noticed that while the amounts are confidential, the fees are on clear and not obfuscated. Isn't ...
5
votes
3answers
2k views

How do I send XMR to multiple different addresses?

For example let's say Alice wants to send moneroj to Bob, Chris and Dave. Does she have to make 3 separate transactions or can she do just one? If she can do just one transaction, would the ...
4
votes
1answer
579 views

Transaction fees are very high for small transactions

Transaction fee are currently fixed (around 0.002 XMR/kB) which is penalising for small transaction (0.026 XMR/TX). Buying an item for 0.2 XMR incurs a transaction fee of 13% which I would call ...
4
votes
3answers
1k views

Who gets monero transaction fees?

I am running a monero node and I would like to know where do the Monero transaction fees go ? Do I need to set something into the monerod node setup to receive transaction fees ?
4
votes
1answer
2k views

Transaction rejected by daemon with status: Failed Error: Reason: fee too low

Recently I sent several transactions in a short period of time but my available balance was always more than enough for each transaction, so I did not think that chained payments should have been a ...
3
votes
1answer
239 views

With RingCT on, can I lower mixin safely to save on tx fees?

Now that RingCT is on and transactions are many times bigger, would a mixin of 1, for example, be safe enough to keep a good level of privacy? I'm mainly asking because many pool operators have ...
3
votes
1answer
4k views

Transfer using cli and choosing lowest fee?

How do you write the command to set the lowest fee during a transfer with the monero cli?
3
votes
1answer
1k views

When should I choose “MEDIUM” or “HIGH” transaction priority?

In Monero's GUI, monero-wallet-gui, I see a drop-down box for "Transaction priority" with the following options: When should I ever choose anything else but the default value ("LOW")? As far as I ...
3
votes
1answer
3k views

How much does Mymonero take as fees per transaction?

Mymonero charges a fee for each transaction sent from the webwallet? What exactly is that fee and how is it calculated?
3
votes
1answer
148 views

Can Monero miners be picky about adding transactions to blocks

With Bitcoin, miners are picky about which transactions to add to blocks due to the limited block size, opting for transactions with higher fees (larger transactions). This means micro/nano payments ...
3
votes
1answer
429 views

What's the explanation for certain high fee transactions/blocks?

From my understanding transaction fees are calculated automatically based on the transaction size in bytes, the current average block size, etc. I've noticed recently that transactions have been ...
3
votes
1answer
122 views

How do fees affect tx priority and how did these specific high fee tx's sit unconfirmed for > 1hr

Can anyone explain to me why several high fee (0.1-0.15) RingCT tx's, that did not look abnormal, sat in the mempool for over an hour unconfirmed, while lower fee (.025 ish) similar looking RingCT tx'...
3
votes
1answer
2k views

What is the lowest fee one can pay to make a monero transaction?

Is it possible to make a transaction without paying a fee or what is the lowest fee amount one can send with? How long does it take to get your coins back if the network does not accept your ...
3
votes
1answer
4k views

What does the “default” priority (priority = 0) do in monero-wallet-cli?

Here's a paste selection from the set command in monero-wallet-cli. priority [0|1|2|3|4] - default/unimportant/normal/elevated/priority fee With priority set to 0, what does that actually mean in ...
3
votes
1answer
302 views

How do I set transaction priority with the JSON RPC wallet?

I'm trying to find how to set the payment priority when making a transfer using the JSON RPC wallet, but can't find the parameter in the documentation, probably because it hasn't been updated since ...
2
votes
2answers
75 views

Block reward and transaction fees over time

I am trying to understand how block rewards have evolved over time in Monero. I downloaded the blockchain and plotted the reward field from each block. Because it looked a bit strange, I plotted the ...
2
votes
1answer
184 views

What are the standard fee multiplier levels?

In the GUI wallet the fees are written as Slow: x0.25 Normal: x1 Fast: x5 Fastest: x41.5 But I just made two transactions with slow and normal fee respectively and the slow fee was 1/5 of the ...
2
votes
1answer
254 views

Who pays Transaction fee?

If I want to send someone $20 worth of monero and the transaction fee is $10, does that person only get $10 or the full $20 and I pay the $10, so I would end up paying $30 for a $20 transaction? ...