This guide is intended for bitcoin users who have received many small transactions and find that it will cost them a significant amount in miner fees to spend them.
Miner fees are paid per-byte of block space, so small coins that require many bytes to spend are the most expensive kinds. Examples might be a donation address that received many small payments, a user of faucets who was paid in many transactions of small amounts or a bitcoin business that receives many small payments and must consolidate them. This procedure is potentially harmful to privacy because it uses many inputs in the same transactions which provides evidence of common ownership.
This may not matter, for example for a static donation address where all the inputs are known to belong electrum bitcointalk forums the same person anyway. The bitcoin electrum bitcointalk forums for block electrum bitcointalk forums asks users to make a tradeoff between confirmation time and cost.
This tutorial achieves cheap miner fees be being prepared to wait a long time for electrum bitcointalk forums. Demand for block space is random and cyclical. Random because each transaction is generated individually so the total amount is noisy although that averages out to be somewhat smooth at scale and has both daily and weekly cycles, with less transactions done during the night and during the weekend.
The bitcoin exchange rate electrum bitcointalk forums also affect demand for block space, with more volatile times being associated with more demand for electrum bitcointalk forums space.
Studying the recent price of block space may help with choosing a fee rate, although using a low value and then being prepared to try again later will work too. In future situations it is best to avoid creating small outputs which are costly to consolidate.
This could be done by settling on the blockchain less often and in bigger amounts. For example if your faucet pays per-task, try electrum bitcointalk forums get paid daily or weekly instead. Some old wallets use uncompressed public keys. Using compressed public keys results in a smaller size with no downside, so all modern wallets use them [1]. To electrum bitcointalk forums whether your wallet uses compressed or uncompressed, try to export a public key. Uncompressed public keys are longer and start with 04 while compressed public keys start with 02 or Example of transaction with uncompressed public key: Example of transaction with compressed public key note shorter length of Input Script: Retrieved from " https: Navigation menu Personal tools Create account Log in.
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