(Suggestion) Choose lower fee if the amount to be sent is small #11223

I'll be brief, suppose this case:

Bob wants to send 10 USD to Alice. (2.2 mBTC) Bitcoin Core estimates fee in 2.5mBTC/kB to be confirmed in the next 2 blocks. (That is 3.80 USD for 300 bytes). As fee is more than 10% of the sent amount, Bitcoin Core should choose a lower fee for this single transaction. Bitcoin Core chooses the 11 block fee, that is 0.6mBTC/kB to be confirmed in the next 11 blocks (That is 0.93 USD for 300 bytes). Bitcoin Core displays a warning to Bob explaining the situation.

Bob pays lower transaction fee (9% fee Vs 38% fee). Bob is happy.

This should be the default behaviour, the user can later change the fee if he wants to.

TL;DR: Make Bitcoin Core aware of the amount sent and lower the fees if it is more than 10% of sent amount.

Fees are bitcoins biggest issue. But this is just going to cause the small transactions to never confirm.

It will confirm in 11 blocks, that is the recommended fee from Core.

El 3 sept. 2017 12:55, "Allan Doensen" notifications@github.com escribió:

Fees are bitcoins biggest issue. But this is just going to cause the small transactions to never confirm.

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It may confirm in 11 blocks, it may confirm next weekend when the mempool goes down, or it may never confirm causing Bob to have to change/add an extra tx to get it unblocked.