Litecoin transaction fee/confirmation time target? (Litecoin Core Wallet)

Aura89 · Post by **Aura89** » Fri Oct 06, 2017 1:48 pm

I'm not entirely sure i know what these should be set to or what exactly they change, anyone have some tips/information they could give? Have tried looking it up, and have yet to find anything that really states anything...

But basically, what happens if you move the slider one way or the other? Are there negatives to it being on the fast side, or etc.? And is setting it to recommend the way to go, or custom?

(this is on Litecoin Core wallet)

Jakeg5280 · Post by **Jakeg5280** » Fri Oct 06, 2017 9:51 pm

I set to recommended most of the time but i sent one with .00000001 fee once and it went through so you if you dont mind it taking a while then you can send almost for free. i would just leave it though

Aura89 · Post by **Aura89** » Sat Oct 07, 2017 1:48 am

Well that's in regards to the custom portion, which i did read that it would take awhile and that technically you could do it for free? But i don't think i want to mess with that.

The "Confirmation time target" is more what i'm interested in, in regards to what it does, if it increases costs, etc.

Jakeg5280 · Post by **Jakeg5280** » Sat Oct 07, 2017 2:33 pm

seems pretty self explanatory to me... you can increase the cost and it will reduce the time, or reduce the cost and increase the time...

Aura89 · Post by **Aura89** » Sat Oct 07, 2017 3:41 pm

Jakeg5280 wrote:seems pretty self explanatory to me... you can increase the cost and it will reduce the time, or reduce the cost and increase the time...

Ok but the problem with that is it does not say anything about the increase in price, only the decrease and increase of confirmation in blocks and time.

For instance:

You transfer coins @ 0.001 LTC/kB with a confirmation target of 25 blocks AKA 1 hour 2 minutes 30 seconds

Or.

You transfer coins @ 0.001 LTC/kB with a confirmation target of 2 blocks AKA 5 minutes

And anywhere inbetween.

None of this tells me, realistically, anything about charges.

Is it per kB in regards to the current block size? meaning the current block size is 18.214kB?

If that's the case, then that makes absolutely no sense since the longer time to confirm, costs more? (25 blocks @ 18.214kB per block vs 2 blocks @ 18.214kB per block)

This is why i am confused.

What is the difference, other then how long it'll take to confirm, to that slider?

Jakeg5280 · Post by **Jakeg5280** » Sat Oct 07, 2017 4:02 pm

i think i have to update my core wallet because my price would go up when i slide to faster times. it used to work but may be broken one the UI now

Aura89 · Post by **Aura89** » Sat Oct 07, 2017 4:09 pm

Jakeg5280 wrote:i think i have to update my core wallet because my price would go up when i slide to faster times. it used to work but may be broken one the UI now

If that's the case, then i understand where my confusion is coming from lol.

This is what it looks like to me, on one end of the slider vs the other.

Normal end of slider

Vs

Fast end of slider

As you can see, the 0.001LTC/kB stays the same the whole time.

Litecoin transaction fee/confirmation time target? (Litecoin Core Wallet)

Litecoin transaction fee/confirmation time target? (Litecoin Core Wallet)

Re: Litecoin transaction fee/confirmation time target? (Litecoin Core Wallet)

Re: Litecoin transaction fee/confirmation time target? (Litecoin Core Wallet)

Re: Litecoin transaction fee/confirmation time target? (Litecoin Core Wallet)

Re: Litecoin transaction fee/confirmation time target? (Litecoin Core Wallet)

Re: Litecoin transaction fee/confirmation time target? (Litecoin Core Wallet)

Re: Litecoin transaction fee/confirmation time target? (Litecoin Core Wallet)