Can the fee be 10 times bigger than the amount that was sent?

2

1

I don't understand one thing : If I get paid an amount of 0.000055 BTC ore more, how come the fee is 0.0005 ? The fee is ten times bigger than the amount I was paid?

user10966

Posted 2013-12-17T12:05:22.490

Reputation: 31

Answers

2

This is to avoid Spamming transactions that would take a lot of space in the block chain.

If you want spend this coins you should wait until transaction fees will be decreased by future updates.

Jan Moritz

Posted 2013-12-17T12:05:22.490

Reputation: 771

2

The tansaction fee is based mostly on the transaction size (in kilobytes), not its amount (in BTC).

Even more: the bitcoin protocol is quite unfriendly to small transactions to prevent spamming the network. If the transaction output is larger then 0.1 BTC, then the fee could be leveraged (more on fee generation algorithm here)

aland

Posted 2013-12-17T12:05:22.490

Reputation: 1 338