GoldCoin Talk

Main Category => GoldCoin Discussion => Topic started by: jimbo on August 18, 2013, 12:30:27 PM

Title: minimum transactions
Post by: jimbo on August 18, 2013, 12:30:27 PM

anyone know the minimum transaction of goldcoin before it charges a fee? golds getting up there now and i want to use smaller amounts, not giving away free gold. lol

thanks_ D

Title: Re: minimum transactions
Post by: Stouse49 on August 18, 2013, 05:11:43 PM

The transaction fee structure is a little complicated, but here is a simple version:

• For any amount sent that is less than 0.01 GLD, there will be a 0.1 GLD fee.
• For other transactions, there may be a 0.1 GLD or larger fee which will depend on the age of the coins being sent, the amount being sent and the size of the amount of information that will be transmitted across the network.

I hope this information is somewhat understandable, but the fees are calculated in a similar manner as Bitcoin and Litecoin.  We have all noticed that moving coins out of cryptsy or some mining pools have a transaction fee as well.  Part of that fee will cover the fees that the coin network will require to process the transaction.  Transaction fees are given to the miners.