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xBDT Script

How to calculate bitcoin transaction size and it's fee

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Wow. That's the thing I am searching for many days. Now i am clear how to calculate transaction fee. I have searched a lot in search engines but couldn't got my desired answers. Thank you xbdt script for sharing this.


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ETH: 0x479eAf3d641819670526A001Fe667000d2F1b293

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For those who like to practice do the calculations for this transactions.

btc.jpg.8b40c33816a43ee8ed399da2baed9508.jpg

 

Although wallets can usually "suggest" a better rate, sometimes knowing  these calculations are of  help (     xBDT Script  ), especially if the amounts send are not very hight.

 

In the example shown, the calculations gave me less than rate paid for25k BTC.

More details :

https://www.blockchain.com/btc/tx/b53321a92835b607f94af4703fd0a576209e48f02037f187d4fe6e6443daead3

 

 

 


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On 10/31/2019 at 12:24 AM, Syedbesharat said:

I do not know about this transactional formula .Now i  know about this how the transactions and fee work.I will share this to my friends and remember this formula.

Everyone must know the transactional formula with financing because to calculate such a thing first knowing the transaction then in the future you can understand how to use both small and large transactions with low and high costs must also know so that you are better later to use the transaction.

And the best thing is that you should encourage a good appreciation because you have the desire to tell your friends.

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On 10/28/2019 at 9:01 PM, xBDT Script said:

Okay let me get this idea here, I am sure a lot of us really do not know how it's done.

Transaction Size Calculation
Transaction size of bitcoin depends on the inputs and outputs of a transaction.
180 * inputs + 34 * outputs + 10 +/- 2

Imagine you have received 10 times bitcoin in an address, 0.01 each time. You want to send 0.05 BTC, how many  input do you need? It's 5 right? Then the input is 5. On the other hand, the output is on how many address you are sending the BTC. By default it's 2 because you have the change address.

So, as per the above information, your transaction size will be-
180*5 + 34*2 + 10 + 2 or - 2
= 900 + 68 + 10 + 2 or - 2
= 980 bytes or 976 bytes

This is the process.

How transaction fee, it depends on you. If you choose to pay 1 sat per byte the fee will be= 980*1 = 980 satoshi only. You can increase or decrease the fee.

Let me know if I have missed anything here.

Thank you.

I didn't know much about Bitcoin size and how Bitcoin is, but I have learned everything from you and your description of this post. I thank you very much for helping me to do this post.

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Good tutorial mate, It's really helping newcomers to understand what is the best fee for safe transaction, Guys if you want to be more simple use some third party wallet like blockchain or coinbase it's giving you recommendation about the fee and also tx confirmation time too, Thanks for this info mate!

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Should we count it manually? Is there any tool to count this transaction cost? What about if we make wrong calculation?


<Bitcoin> 33UiM7HjYSH9ZuCfdQiRKmWNJdGhLx444W

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Woah, i'm not a math guy, everytime i read your topic I get confused, these things are not for everyone, but i think i need to follow you dude.

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18 minutes ago, Warrior said:

I'm also trying to get this in my mind for a long but can't. It's little bit weird for me to understand I don't know how he has get this so easily

well like I said before, somethings are not for everyone t is talent and everybody has got his own, so it does not surprise me.

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You made it easy for us here to explain the bitcoin calculation and its fees.  This is the first time I found out about it, so from now on I will calculate Bitcoin and find out about its fees.  If we find out in the middle of an app, tell us that too.

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On 10/28/2019 at 5:01 PM, xBDT Script said:

Okay let me get this idea here, I am sure a lot of us really do not know how it's done.

Transaction Size Calculation
Transaction size of bitcoin depends on the inputs and outputs of a transaction.
180 * inputs + 34 * outputs + 10 +/- 2

Imagine you have received 10 times bitcoin in an address, 0.01 each time. You want to send 0.05 BTC, how many  input do you need? It's 5 right? Then the input is 5. On the other hand, the output is on how many address you are sending the BTC. By default it's 2 because you have the change address.

So, as per the above information, your transaction size will be-
180*5 + 34*2 + 10 + 2 or - 2
= 900 + 68 + 10 + 2 or - 2
= 980 bytes or 976 bytes

This is the process.

How transaction fee, it depends on you. If you choose to pay 1 sat per byte the fee will be= 980*1 = 980 satoshi only. You can increase or decrease the fee.

Let me know if I have missed anything here.

Thank you.

It has been a very good narrative, and I think it would be a good guide, especially for those who are researching about the ability to send money on a Bitcoin network for a low fee regardless of the amount. On the other hand, it will also be useful for those who want to calculate the ideal price and shorten the processing time before the transaction.


My main language is not English, sorry for if i made any mistake when i write a message.

 

Give me 💙 if my post is helpful

Thank you.

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I never heard about that thanks alot for this information and do they all use it or there is some changes from site or platform. 

All the best..

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Thanks for your sharing. I am also paying attention to this. You have explained to me the transaction fees. I'll try it, because I've never charged a transaction before, I notice it now

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Well, I've been using bitcoins for a long time, but I don't really care much about calculations, because I'm calculating quite slowly. But for your share, I will pay more attention.

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On 10/28/2019 at 4:01 PM, xBDT Script said:

Okay let me get this idea here, I am sure a lot of us really do not know how it's done.

Transaction Size Calculation
Transaction size of bitcoin depends on the inputs and outputs of a transaction.
180 * inputs + 34 * outputs + 10 +/- 2

Imagine you have received 10 times bitcoin in an address, 0.01 each time. You want to send 0.05 BTC, how many  input do you need? It's 5 right? Then the input is 5. On the other hand, the output is on how many address you are sending the BTC. By default it's 2 because you have the change address.

So, as per the above information, your transaction size will be-
180*5 + 34*2 + 10 + 2 or - 2
= 900 + 68 + 10 + 2 or - 2
= 980 bytes or 976 bytes

This is the process.

How transaction fee, it depends on you. If you choose to pay 1 sat per byte the fee will be= 980*1 = 980 satoshi only. You can increase or decrease the fee.

Let me know if I have missed anything here.

Thank you.

What can I say you really did a great job here informing the newbies on how to calculate transactions size and it's fee thanks in a million

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On 10/28/2019 at 8:31 PM, xBDT Script said:

Okay let me get this idea here, I am sure a lot of us really do not know how it's done.

Transaction Size Calculation
Transaction size of bitcoin depends on the inputs and outputs of a transaction.
180 * inputs + 34 * outputs + 10 +/- 2

Imagine you have received 10 times bitcoin in an address, 0.01 each time. You want to send 0.05 BTC, how many  input do you need? It's 5 right? Then the input is 5. On the other hand, the output is on how many address you are sending the BTC. By default it's 2 because you have the change address.

So, as per the above information, your transaction size will be-
180*5 + 34*2 + 10 + 2 or - 2
= 900 + 68 + 10 + 2 or - 2
= 980 bytes or 976 bytes

This is the process.

How transaction fee, it depends on you. If you choose to pay 1 sat per byte the fee will be= 980*1 = 980 satoshi only. You can increase or decrease the fee.

Let me know if I have missed anything here.

Thank you.

You said we can increase or decrease the fee. But if we decrease the fee our transaction speed would be very low. And it has benefit that if you want quick transfer of btc then you can do this with paying more fee for that which is only available in crypto world.

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On 10/28/2019 at 10:01 PM, xBDT Script said:

Okay let me get this idea here, I am sure a lot of us really do not know how it's done.

Transaction Size Calculation
Transaction size of bitcoin depends on the inputs and outputs of a transaction.
180 * inputs + 34 * outputs + 10 +/- 2

Imagine you have received 10 times bitcoin in an address, 0.01 each time. You want to send 0.05 BTC, how many  input do you need? It's 5 right? Then the input is 5. On the other hand, the output is on how many address you are sending the BTC. By default it's 2 because you have the change address.

So, as per the above information, your transaction size will be-
180*5 + 34*2 + 10 + 2 or - 2
= 900 + 68 + 10 + 2 or - 2
= 980 bytes or 976 bytes

This is the process.

How transaction fee, it depends on you. If you choose to pay 1 sat per byte the fee will be= 980*1 = 980 satoshi only. You can increase or decrease the fee.

Let me know if I have missed anything here.

Thank you.

Trully this what i need to know till to day i still dont know how to calculated Bitcoin fee transaction all i know peoples saying ita expencived . Now i see and the fee stiĺl noy enought for me to do transaction whit BTC than i still prefer doing trade to Altcoins to made some transaction whit my sathosi. Thx buddy i just note your formula to my diary plan book for remind me everytime. Good sharing .

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On 10/28/2019 at 8:01 PM, xBDT Script said:

Okay let me get this idea here, I am sure a lot of us really do not know how it's done.

Transaction Size Calculation
Transaction size of bitcoin depends on the inputs and outputs of a transaction.
180 * inputs + 34 * outputs + 10 +/- 2

Imagine you have received 10 times bitcoin in an address, 0.01 each time. You want to send 0.05 BTC, how many  input do you need? It's 5 right? Then the input is 5. On the other hand, the output is on how many address you are sending the BTC. By default it's 2 because you have the change address.

So, as per the above information, your transaction size will be-
180*5 + 34*2 + 10 + 2 or - 2
= 900 + 68 + 10 + 2 or - 2
= 980 bytes or 976 bytes

This is the process.

How transaction fee, it depends on you. If you choose to pay 1 sat per byte the fee will be= 980*1 = 980 satoshi only. You can increase or decrease the fee.

Let me know if I have missed anything here.

Thank you.

You make  great formula to calculate the BTC and also the transaction size in the market, Crypto is the best and good market in the world and this so much trusted and good and we can change our life in this market soon.


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Thank you, but I didn't get a proper understanding of how the process was done, could you please explain how the fees in the network are calculated in another way.

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18 minutes ago, Sahil gupta said:

Hello my dear friend. Thank you so much for sharing this valuable information here in forum with us. I usually convert my BTC into LTC or XRP to reduce the transfer fee.

I am sure you are talking about exchanges.  It's not always the right thing to do. You need your own wallet for your coins. Any exchange can get hacked.

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I don't think you have to calculate yourself all of this stuff because I know that wallets automatically calculate all of this. And also you can set the fee manually 

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Today I see really good information post previously I don't no how the transaction made,but your post clear so many doughts in my mind ,one crypto transaction made this type mathematics codes runs in block chain technology, your mathematics calculation is quite interesting keep it up and post like this topics.

  • +2 1

 

   

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This is obviously a relevant post there, as basically I use eallts which the price of transaction fees is determined by the wallet either being a decentralized or centralized wallet. But much inform has being gotten from such Post

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    • We Unchain Real-World Assets Onchain Empowering Investors with Real-World Assets & Real Yield TVVIN is an accessible ecosystem that empowers investors in the Real-World Asset (RWA) Market. Through our omni-chain Platform, investors gain transparency and trust when investing into diverse assets starting with gold, silver, platinum and palladium and thereafter expanding into other asset classes. The TVVIN Platform offers access to tokenised assets in unit sizes that are affordable and made available to anyone, anywhere, democratising accessibility and providing easily tradable and liquid positions, that are instantly settled and securely recorded on-chain.  TVVIN has developed a unique model whereby digital RWA Yield Vaults offer new financial passive income potential that's able to provide advanced ways investors monetise their static assets.  The TVVIN Platform enables a more stable and secure option for market participants seeking stability, while enjoying growth opportunity simultaneously. Own Real-World Assets & Earn Real Yield TVVIN’s RWA Yield Vaults allow holders to digitally vault their RWA tokens, such as gold, for a specified period and earn yield. In order to vault RWA tokens, a corresponding and required amount of TVVIN's utility token, $TVVIX must also be vaulted. Upon withdrawal of the RWA tokens from the vault, this corresponding amount of $TVVIX will also be released, along with a yield paid in $TVVIX which can, if wanted, be exchanged into more RWA tokens. The yield is generated from putting the underlying assets to work using low risk financial instruments.  Legacy Meets Liquidity TVVIN introduces TVVIN Gold ($VVG) as its inaugural RWA-backed token. The gold is investor-grade, LBMA-Certified, and securely vaulted in the highly desirable Channel Islands jurisdiction in the vaults of our financially regulated and audited precious metal partner. TVVIN also has access to other precious metals such as silver, platinum, and palladium, which will be tokenised in quick succession after launching our gold token. Other asset classes will follow, and $TVVIX token holders will have a unique opportunity to both propose and vote on onboarding new tokenisation projects through the TVVIN DAO. By integrating desired assets and creating a digital twin of these on the blockchain, TVVIN establishes a transparent and efficient environment for trading and investing in RWAs. ROADMAP TOKENOMICS The TVVIN utility token, $TVVIX, is a deflationary token that both enables the RWA Yield Vault Functionality and allow for governance participation, mainly in proposing and voting on new tokenisation projects. Part of all Platform transaction fees are used to buy $TVVIX off the market, where it is burnt, contributing to the deflationary aspect of our token design. TOKEN UTILITY Functionality of $TVVIX Leverage TVVIX tokens give access to our vaults, where holders can deposit and farm their RWA tokens for yield. The $TVVIX requirement corresponds to deposit size. As demand for RWAs rise, so does demand for TVVIX. As we further develop the platform, further planned functionality will be announced. Governance TVVIX token holders have decision making power, proposing and voting on changes to the TVVIN platform as well as funding initiatives for community projects and further RWA-backed tokenisations.  Staking Holders can stake their TVVIX tokens, contributing to network growth and earn rewards, increasing their token holding. GOVERNANCE Power to the People TVVIX token holders will have the ability to propose changes, and vote on governance proposals related to the development and direction of the platform. This includes decisions on network upgrades, changes to the tokenomics and fees, and the addition of new RWA tokens. $TVVIX token holders who participate in governance proposals will be rewarded with $TVVIX tokens. The exact amount of rewards will depend on the number of tokens staked by the user and the outcome of the governance proposal. By empowering our community to participate in the decision making process, TVVIN creates a more democratic and inclusive ecosystem that serves the needs and interests of all TVVIN stakeholders. We believe that a community driven approach is instrumental in achieving our vision of democratising access to real-world assets and disrupting traditional financial markets for the better. HOW CAN I GET $TVVIX? Private & Public Sale There are two current ways to get hold of $TVVIX. We are currently conducting a Private Sale and we will also have a Public Sale in early Q3 together with launchpads.  TOKEN SALE https://docs.tvvin.com/tvvix-token/how-can-i-get-usdtvvix/token-sale For more information about TVVIN, please visit:  • Website: http://tvvin.com/  • Telegram: https://t.me/TVVIN_RWA  • Twitter: https://x.com/TVVIN_RWA  • Discord: https://discord.com/invite/VxerJqkkZ4  
    • Итак. Вы решили подключить на свой сайт платежку и столкнулись с вопросом: какие бывают платежные шлюзы?   Все платежные решения можно разделить на 4 категории. Первые 2 категории достаточно трудны в реализации и их использование может вызвать лишь дополнительные проблемы, но проигнорировать их мы не можем:   Собственная платежная система   Это, пожалуй, самое трудно в реализации решение. Без своей команды разработчиков, которые создадут и будут поддерживать платежную систему, не обойтись. При этом придется разобраться в огромном количестве тонкостей этой сферы. На выходе, попытка сэкономить на комиссии готовых решений обернется еще большими расходами и потерей времени. Подойдет, пожалуй, только для очень крупных компаний со своим штатом разработчиков.       Платежный шлюз от местного банка   Крупные компании, работающие в одном регионе могут смело подключать шлюзы от банков. Если же компания работает в нескольких регионах, такое решение будет не лучшим, так как для каждого региона придется подключать отдельный банк, а это накладно и с точки зрения разработки и с точки зрения времени, потраченного на сбор документов и открытие компаний в каждой стране присутствия.     А вот оставшиеся два варианта – это то, чем пользуются компании из разных стран и работающие в разных направлениях: от сервисов по приему СМС и продаже цифровых товаров, до крупных Gambling и Betting-компаний, которым нужно быстро и четко обрабатывать платежи из разных стран.     Внешний шлюз   Отличное решение для компаний, которые работают в нескольких регионах, либо по какой-то другой причине не могут, или не хотят подключать шлюз от банков. Именно это решение в последние годы использует большинство представителей мелкого, среднего и даже крупного бизнеса. Оно наиболее простое и подключить такое решение можно в считанные дни.       Встроенный по API шлюз   Второе по популярности решение. Оно смотрится максимально органично для покупателя, ведь все действия будут происходить в рамках одного сайта, без лишних редиректов. Но в данном решении продавцу придется самостоятельно разработать страницу для приема платежей, подключить обработку платежей через API платежного сервиса, а также позаботиться о сохранности платежных данных, если они будут собираться в рамках выбранного платежного метода.     Кстати, оба варианта доступны в процессинговом сервисе MoneyGate. Подробнее на сайте: Moneygate.biz
    • CryptoNews of the Week     – The Republican candidate for the upcoming US elections, Donald Trump, has declared his intention to become the "cryptocurrency president." Speaking in San Francisco, he presented himself as a defender of digital assets and criticized Democrats' attempts to regulate the industry. According to Reuters, Trump raised $12 million for his campaign at an event for venture capitalists from Silicon Valley, organized by Chamath Palihapitiya and David Sacks at Sacks' mansion in the Pacific Heights area. Media reports indicate that executives from the crypto exchange Coinbase, the founders of the Gemini trading platform, Cameron and Tyler Winklevoss, and other industry representatives were present at the event. Intercom CEO Eoghan McCabe shared on X about his participation: "I spoke with six people there. None identified as Republicans. All had voted for or donated to Democrats in the past. Now they support this guy [Trump] for his policies on war, immigration, cryptocurrency, and more. These elections are a referendum on these issues."   – The attitude towards cryptocurrencies will be a key difference between the candidates for the US presidency, Donald Trump and Joe Biden, though neither understands the topic. Billionaire Mark Cuban stated this: "Do you really think [Trump] understands anything about cryptography beyond making money from selling NFTs? Neither candidate understands. But I've often said that Biden will have to choose between [SEC Chairman] Gary Gensler and crypto voters, or it could cost him the White House."  Discussing the upcoming elections on X, ASI crypto-lawyer Preston Byrne noted that Trump's crypto policy is "actually very substantial and well thought out, while Biden's approach is insane and punitive."   – The "Intelligence Authorization Act for Fiscal Year 2025" was submitted to the US Senate on 3 June 2024. On 5 June, Senator Mark Warner's strategic amendment to this bill was published on the social network X, granting the US president new broad powers. This allows the president to "prohibit any transactions between any person under US jurisdiction and foreign intermediaries in digital asset transactions."  Financial lawyer Scott Johnsson criticized the law due to its wide scope. He sees it as an attempt to control digital assets under the guise of fighting terrorism, as the amendments added by Warner are borrowed from the Anti-Terrorism Financing Act.   – Late in the evening (CET) on 12 June, the FOMC (Federal Open Market Committee) of the US Federal Reserve will decide on the dollar interest rate. Historically, such decisions have always significantly impacted bitcoin's price. In this regard, ChatGPT-4o AI was tasked with forecasting BTC's price based on technical analysis and financial analysts' assumptions.  According to the AI, bitcoin will trade in the $68,000-73,000 range. However, a rate cut or hints of an upcoming reduction could push BTC beyond this range. In this unlikely economic scenario, ChatGPT-4o predicts the leading cryptocurrency will trade between $73,000 and $75,000 or higher.   – Over the past few days, the crypto market leader has lost nearly 10% in value. Many experts believe this is due to investors' concerns that US inflation will remain high for a long time. Under such conditions, a quick easing of the Federal Reserve's monetary policy is unlikely. Enthusiasm was also dampened by the fact that spot bitcoin ETFs broke a 19-day streak of investment inflows. On 11 June alone, industry funds lost nearly $65 million. MN Capital founder and analyst Michaël van de Poppe noted that investors are acting more cautiously ahead of the FOMC meeting on 12 June. He does not rule out that seller pressure will persist in the near term. Under such conditions, bitcoin could correct to $65,000. However, van de Poppe does not expect a deep price drop, as significant liquidity is concentrated around the $60,000 mark, indicating strong support, and positive dynamics could be supported by geopolitical instability.   – Traders note that "digital gold" has recently been trading within a narrow range of $66,000 to $72,000. One popular market participant considers the lower boundary an ideal entry point, while entry at the upper boundary carries high risk.  Despite recommended caution, over 70% of the crypto community participants in several surveys believe BTC is on the verge of continued growth. For example, a trader nicknamed Captain Faibik is confident that bitcoin is preparing to break out of the "expanding wedge" technical analysis pattern. Breaking above its upper boundary, in his opinion, will open the way for the cryptocurrency to rise above $94,000. Trader Titan of Crypto, in turn, expects bitcoin to reach $100,000 this summer.  Community participants also point to the activity of large investors as a sign of BTC's growth potential. Whales, according to crypto industry representatives, are actively taking long positions in bitcoin. Cryptoquant CEO Ki Young Ju noted that the $69,000 level has become particularly attractive for large investors.   – By the end of 2024, the first cryptocurrency will be worth between $125,000 and $135,000, according to BitGo CEO Mike Belshe. He believes that one of the catalysts for bitcoin's growth will be the high level of US national debt. "Our macroeconomic climate continues to confirm the necessity of bitcoin. Without a doubt, the US national debt is out of control. […] This situation supports the idea that bitcoin is the gold of the new generation," Belshe said.  He also noted that the US dollar is losing its position as the world's reserve currency due to US foreign policy. The BitGo CEO believes that the country uses the dollar as a weapon and a tool for manipulation. "Thus, the US national debt crisis is one thing, foreign policy and sanctions control is another. And BRICS is providing alternative payment systems. […] This is the story of why bitcoin exists," he concluded.   – The new Binance CEO Richard Teng, who succeeded Changpeng Zhao, believes that bitcoin will soon exceed $80,000. Teng associates the potential new high with the launch of spot BTC-ETFs traded on stock exchanges. This has strengthened trust in the asset, and retail traders and institutions no longer perceive it as risky. The Binance CEO also suggests that cryptocurrency legalization is possible if Donald Trump is elected president of the United States. Declaring himself a "crypto president," Trump stated in May that the US should lead the global crypto industry.   – The self-proclaimed first resident of Bitcoin City, American Corbin Keegan, left El Salvador without seeing his dream city begin to take shape. In November 2021, El Salvador's President Nayib Bukele announced plans to establish a crypto settlement. Upon hearing this news, Keegan left Chicago and headed to the South American country to become Bitcoin City's first resident. However, his patience eventually ran out, and he returned home.  The project's implementation was likely frozen due to a lack of funding. Bukele wanted to raise the necessary funds through the sale of "Volcano Bonds." These securities were planned for release in Q1 this year, but for various reasons, they did not see the light of day. Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/
    • Cardano Node 9.0 будет запущен в июне и подготовит платформу к форку Chang   Cardano Node 9.0 будет запущен в июне. Это обновление подготовит платформу блокчейна к долгожданному форку Chang. Основатель Cardano Чарльз Хоскинсон сообщил об этом событии на X. Хоскинсон отметил, что хардфорк может произойти после того, как 70% операторов стейкингового пула (SPO) установят новый узел. Это приведет Cardano в эпоху Вольтера, ознаменовав состояние полной децентрализации — огромную веху для сети и всей индустрии блокчейнов. Хоскинсон назвал это самым значимым событием в истории Cardano.   Хоскинсон описал путь развития за последнее десятилетие, заявив, что создание Cardano было похоже на строительство нации. Он выразил гордость за сообщество и оптимизм на будущее. Хоскинсон считает, что Cardano дает надежду отрасли и всему миру, и призвал всех оказать значительное влияние в следующем десятилетии. Три дня назад основатель прокомментировал несоответствие между восприятием СМИ и реальным прогрессом Cardano. Он раскритиковал криптовалютные СМИ за непризнание достижений Cardano.
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