0 sats \ 3 replies \ @bitcoin_rationalist OP 26 Dec 2023 \ parent \ on: ELI5: total fee to send a 1M sat UTXO @ 100 sats/vB? bitcoin
That’s helpful, thx!!
Is there a way to figure out how much it would cost to send a transaction? For example- if I have 1M sats that are made up of 5 inputs in a single sig HW wallet, how could I figure out how much the fee would be to send those 1M sats another wallet?
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100 sats \ 2 replies \ @ek 26 Dec 2023
Which wallet do you use?
Sparrow wallet shows you the transaction in hex. If you have the hex string, you should be able to divide the length of that hex string by 2 (since one byte basically fits into two hex characters: 0xff = 255 = 2^8 - 1 and one byte is 8 bits) to get how many bytes this transaction has.
However, since SegWit (Segregated Witness), we use "virtual bytes" for fee rates. So the witness part is weighted less. So it's actually more complicated than just counting bytes.
That's where my knowledge starts lacking, so I'll stop here. Hopefully someone else will chime in and explain it better to you in more detail.
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21 sats \ 0 replies \ @jakoyoh629 27 Dec 2023
Trnsation free Explained
https://blockchain-academy.hs-mittweida.de/2023/02/calculation-of-bitcoin-transaction-fees-explained/
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0 sats \ 0 replies \ @bitcoin_rationalist OP 1 Jan
Just realized I never responded to you- thx for the info. I have a ledger with a couple UTXOs that I need to consolidate.
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