RadarBlue
Posts: 1
Joined: Mon Dec 11, 2017 4:48 pm

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Satoshi FEE

Mon Dec 11, 2017 5:19 pm

My first payment with bitcoin, two days ago .
11.12.2017 . today .

I hear people talk about cheap transaction fees in the 2 cent domain.
What astonishes me is that there is another fee in addition to the Satoshi fee , Sat/Byte .

I payed a wallet of mine 0.000533BTC, to round my other account nicely at 0.016 BTC .
The fee tab was "super economy" at 320 Satoshi .

Miner Fee
320 Sat / E8 = 0.0000032 BTC
After the transaction I was left with 0.01488 BTC
And the other 0.000533 BTC

Total Fee
0.016533 BTC - 0.01488 -0.000533 = 0.00112 BTC
0.00112 BTC * E8 = 120 000 sat = 18 $ worth .

Where did the money go ?
I was charged nearly 20$ for the transaction !
Why did I have to make such a large "bid" to process my transaction .
The C.lerk is pretty hungry .
If the actual miner obtains the fee of 320 SAT, where is the remaining 0.0011165 BTC ?
0.00112 BTC total fee - 3.2E-6 BTC miner fee = 0.0011165 BTC lost in transaction .

Is that legal, to pull extra fees out of a transaction without information about the total cost ?
The transaction time was under 2 minutes .

Practically the Bitcoin is immobile.
I cant move my money because its too expensive fee for "usual things".
Shift Millions might work at 20$ fee, but all in good time .

I also tried to move or pay the 0.000533 BTC to another wallet again, but no , the fee was too large.
today 0.000533 BTC is about 8$. I tried to move 1$ out so 7$ was left for the fee. but no.
How the hell can I buy a comic book with this ?
Or a beer out on town when I am drunk ?
It costs more to use it than to store it .

My point is the FEE is more complicated than the usual Satoshi fee.
I think its an INFLATION FEE. that the system needs to retain its value . Arcade money .
Especially during the December 2017 bloom .
Id like to inspect the Block .
As a shared open information , document of proof .

There is no way of knowing what the fee is in reality !
Where did I go wrong ?
Anybody else experienced this, or everybody happy with it ?

PS. I was lucky because the initial 0.016BTC was bought for 50$ this summer, and forgot all about it . Now its about 150$ .
The machine gives and takes I guess. :)

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