How to get very low transaction fees on the bitcoin/btc chain
Low BTC transaction fees in 4 steps:
Scroll nearly all the way to the bottom.
Click through some transactions and note the cheap, cheap fees.
Set your transactions fee to the same, or thereabouts.
You will need a wallet where you can set your own fees. Electrum, Armory, Trezor etc.
Here's one example for 11c tx fees, mined in 6 minutes
Here's another example for 10c tx fees, mined in 2 minutes
Wallet algorithms keep entering high fees, because wallet algorithms keep entering high fees.
Ad nauseum.
They auto enter high fees to make sure your transaction is at or near the top. They keep auto creating higher and higher fees. This is the dumb problem. The wallets are stuck in a type of infinite, dumb loop.
Bitcoin is not broken. I've been sending heaps of 10c transactions the past week.
Now you know.
Please test with some small amounts and confirm.
I should add this works better when the hashrate is oscillating to the btc chain.
Posted by reddit user Allways_Wrong:
https://www.reddit.com/r/Bitcoin/comments/6wuvrt/comment/dmbhiw8