Transaction Fee calculated is only 1% of what it ought to be #15916

issue ghost opened this issue on April 28, 2019
  1. ghost commented at 9:05 PM on April 28, 2019: none

    The transaction fee; recommended; only seems to be calculating 1% of what it should be and this is causing transactions to hang or not get processed in a timely manner.

    I have spent three lots of coins from my bitcoin core wallet. In each case the fee has been set to automatically calculate. I do not believe I changed the parameter since installation and it is set to Confirmation Target Time of 60 minutes, which, when initially writing this, was supposed to be 0.00064232 BTC/kb.

    Three transactions - lastly a transaction size of 221 bytes (0.221 kbytes] the expected fee from two weeks ago, based on the 0.00091727 BTC/kb, should be about 0.000203. However the fee charged is only about 1% of this 0.00000238 BTC, seemingly out by a factor of 100. It is now confirmed but attempting to accelerate on pool.viabtc.com/tools/txaccelerator/ failed because the fee was too low!

    Secondly - A similar small fee of 0.00000224 BTC was applied on a previous transaction two weeks earlier. I have no idea of what the calculation BTC/kb would have then been.

    And thirdly - a transaction another week earlier had a fee calculated of 0.00001194 BTC or 0.0000632 BTC/kb, I again have no idea of what the BTC/kb was at that time, but this is also seemingly out be a factor of 50 or 100.

    If the calculation is out, using mBTC instead of satoshis or some such thing, then I worry any sudden change could adversely impact people who have identified the bug and have manually set their BTC/kb value to 100 times what it ought to be!!!

    Any workaround setting the BTC/kb value manually is really worrisome for anyone not using wallets regularly, I would worry I could pay 100 time more than I ought to!

  2. fanquake added the label TX fees and policy on Apr 28, 2019
  3. MarcoFalke commented at 6:40 PM on April 29, 2019: member

    How did you set the tx fee? GUI, RPC, command line, config file, ...?

    Also, the debug.log might cointain lines that say Fee Calculation: ... Mind to include those for the txs above?

    You can find the debug.log in your data dir.

  4. MarcoFalke added the label Questions and Help on Apr 29, 2019
  5. ghost commented at 9:11 PM on April 29, 2019: none

    The fee was set in the Windows 10 GUI, was left as default "Confirmation Time Target 60 minutes (6 blocks)" Entries from the debug log are: First Transaction: 2019-03-19 14:08:50 keypool reserve 5 2019-03-19 14:08:50 Fee Calculation: Fee:1194 Bytes:190 Needed:1194 Tgt:6 (requested 6) Reason:"Half Target 60% Threshold" Decay 0.96200: Estimation: (6081.41 - 6385.48) 94.82% 364.6/(384.5 0 mem 0.0 out) Fail: (5791.82 - 6081.41) 47.06% 62.4/(132.6 0 mem 0.0 out) 2019-03-19 14:08:57 CommitTransaction:

    Second Transaction: 2019-03-24 04:36:11 keypool reserve 6 2019-03-24 04:36:11 Fee Calculation: Fee:224 Bytes:224 Needed:224 Tgt:6 (requested 6) Reason:"Minimum Required Fee" Decay 0.96200: Estimation: (0 - 1000) 100.00% 192.1/(192.1 0 mem 0.0 out) Fail: (-1 - -1) nan% 0.0/(0.0 0 mem 0.0 out) 2019-03-24 04:36:17 CommitTransaction:

    Third Transaction: 2019-04-10T10:27:24Z [default wallet] keypool reserve 7 2019-04-10T10:27:24Z [default wallet] Fee Calculation: Fee:238 Bytes:221 Needed:238 Tgt:6 (requested 6) Reason:"Conservative Double Target longer horizon" Decay 0.99931: Estimation: (1000 - 1477.46) 100.00% 225.4/(225.4 0 mem 0.0 out) Fail: (0 - 1000) 100.00% 109.2/(109.2 0 mem 0.0 out) 2019-04-10T10:27:36Z [default wallet] CommitTransaction:

    Thanks

  6. MarcoFalke commented at 3:15 PM on October 13, 2019: member

    Have you been syncing other nodes' txs and blocks in you mempool? this is required for fee estimation to work.

  7. MarcoFalke commented at 4:01 PM on April 26, 2020: member

    Is this still an issue with a recent version of Bitcoin Core? If yes, what are the steps to reproduce?

  8. MarcoFalke closed this on Apr 26, 2020

  9. MarcoFalke locked this on Feb 15, 2022

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