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by possibilistic 4550 days ago
Kind of off topic, but I have some questions related to transaction fees.

1) Is there a "reference value" in terms of how much transaction fee you have to pay to make a payment from one bitcoin/altcoin address to another?

2) Is there a "message" payload that would allow us to include JSON or transaction details? I've read that it costs a larger fee for more bytes in a transaction, so I'm assuming you can add whatever you want to the transaction.

3) When I last made a transaction with an altcoin [1], it got "split" to two addresses. One of these addresses was not my target receiving account nor an address that I owned. Does anyone know why this other address got coins? Does this happen in many/all cryptocurrencies?

4) If I made a payment gateway that created a unique address for every user to send payments to, would it be unreasonably expensive to collect all of these funds into a single address later? (N user payment accounts * 1 outbound transaction => Large Central Account/Wallet)

[1] http://dogechain.info/address/DLqfuYFwVmroo4oaiVU9oSGTjsEBvQ...

1 comments

1) Yes and no... the QT client has default/"suggested" transaction fees, but unless a block is completely full you're not likely to see any difference in processing time if you exclude a fee entirely [a]

2) As of recently [b], yes... you can add a small amount of junk data

3) When you send a transaction using input address(es) that don't add up to exactly the desired amount, there will be some "change", which needs to go to a new address. Thus, some of your change comes back to you at a new address.

4) Yes, that's possible. But you probably don't want to do that, since it leaks information [c]

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[a] subject to some limitations: https://en.bitcoin.it/wiki/Transaction_fees#Sending

[b] https://bitcoinfoundation.org/blog/?p=290

[c] https://medium.com/p/7f95a386692f