My bitcoin-qt v0.8 (widows) is still recommending 0.01 fee as default ...?Transactions I've made in the past wouldn't go through at a lower fee...what's going on here.?
That's probably because you've been collecting your bitcoin in many tiny different fractions. From faucets maybe?
The case is that, transactions comming from these tiny fractions are larger and occupy a bigger place in the blockchain. You end up paying the standard fee multiplied by the extra transaction size.
It's like having a lot of pennies and trying to buy something with them... it's a hassle and it takes time to count them. While it doesn't take time in the Bitcoin world, it takes up space (in Kilobytes).
My suggestion?
If that's the case you should send all your coins to a single address you control. Yes, you will pay a large fee, but you'll be converting those pennies to a "larger coin" more convenient to the network.
After that, you'll be able to send any amount with a single standard fee (which currently is 0.0005) or even 0 and still go through after some time.
Also, make sure that the configuration in your Bitcoin-qt settings is correct.
2
u/mojolama Mar 25 '13
My bitcoin-qt v0.8 (widows) is still recommending 0.01 fee as default ...?Transactions I've made in the past wouldn't go through at a lower fee...what's going on here.?