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Darkcoin wallet fees

T

Tyconderoga

New member
Finally got my darkcoin wallet to synch. Now is asking for a transaction fee to transfer some DRK out if I click ok, then it asks for a second transaction fee. Since Im mining with a CPU and earning very small amounts of DRK it seems excessive to have two transaction fees on any small transfer. Has anyone had the same experience? I guess I'll get used to paying such a high fee but since it took so long to get synched Im wondering if something is wrong with it.
 
There is something called coin age that affects the transaction fee as well as transaction size. The following is from the Bitcoin Client 9.0

Sending
A transaction may be safely sent without fees if these conditions are met:

  • It is smaller than 1,000 bytes.
  • All outputs are 0.01 BTC or larger.
  • Its priority is large enough (see the Technical Info section below)
Otherwise, the reference implementation will round up the transaction size to the next thousand bytes and add a fee of 0.1 mBTC (0.0001 BTC) per thousand bytes[1]. As an example, a fee of 0.1 mBTC (0.0001 BTC) would be added to a 746 byte transaction, and a fee of 0.2 mBTC (0.0002 BTC) would be added to a 1001 byte transaction. Users may increase the default 0.0001 BTC/kB fee setting, but cannot control transaction fees for each transaction. Bitcoin-Qt does prompt the user to accept the fee before the transaction is sent (they may cancel the transaction if they are not willing to pay the fee).

Note that a typical transaction is 500 bytes, so the typical transaction fee for low-priority transactions is 0.1 mBTC (0.0001 BTC), regardless of the number of bitcoins sent.

Post your address and I'll send you a coin.
 
Hi,
Thanks for the reply. As far as I know the transaction fees are in DRK only, no bitcoin involved. The first attempt to send Darkcoin results in a request for 0.001 DRK followed by a second request for 0.031 DRK. Something doesnt seem right. Not only is it asking for two separate fees but I thought Darkcoin was supposed to have no transaction fees.
Dont get me wrong - I dont mind paying a bit for the service, but would like to know if it is working correctly.
 
He is quoting the btc client because all others are based on it and it works in the same way. Your problem is probably that you have too many tiny inputs. If you are mining on a pool you should set up your auto withdraw higher so you get less and bigger inputs.

If you still will have very small inputs, do some research on 'consolidating bitcoin dust' (again, it will work the same for drk) and check what you can do to reduce the size of your transactions. One common method is sending yourself all the balance after each transaction. This way you only have two inputs (the full balance from previous transaction and the new tiny one) and you'll keep it smaller. It is quite cumbersome, but they say it works (I haven't done it, please always check other sources!).
 
Whoa... This sounds like a bunch of bs hoops. Do we get charged to move money from one wallet to another?
This thread is making me think the crypto world was created by ...bleeeeeeep
 
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Thanks I appreciate the replies. Im fairly accustomed to being charged transaction fees by pools for moving bits of bitcoin or some other alt-currency around. I guess it's harder to see but incoming DRK into a personal wallet hasnt resulted in a fee - that is as far as I can tell, that is, only at the pool end. Sending any alt from a personal wallet results in a charge, but never two like the DRK wallet, which results in a higher overall fee compared to any other alt Ive dealt with. So I guess that was why I asked the question in the first place. If Im being charged substantial fee on such a small value, then is the charge proportional and will a larger amount be charged the a proportional amount. Because if that is true then the security feature of a personal wallet for DRK is being over-ridden by the loss of value incurred by moving coin out of it.

It tends to make me think that unless you are sending from a pool directly to an exchange a DRK personal wallet is a pretty big waste of value.
 
Updated my wallet as required.. just tried to send some dark to mintpal and my wallet said that I wouldn't have enough after the .003 fee, scratching my head at the increase to .003, I deduct a .001 from my request and it pops up saying not enough after the .004 fee ?!?!?! What the HELL is that?? Someone want to explain to me why my own wallet is charging me an extortion sliding scale rate to move my own Dark?? Why the hell did it jump from .003 to .004?? That is total crap!! At this point.. I should just get rid of my wallet and have my dark deposited straight to Mintpal.. they only charge .001 to move it!!
 
In this thread you have more information on wallet fees:
https://darkcointalk.org/threads/darkcoin-wallet-fees.583/

Most times fees are caused because of many small input transactions. If you use the RC version of the wallet you can use coin control to chose yourself the inputs of the transaction and try to minimize its size. It is not available by default but you can activate it in settings.
 
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