Help with Bitcoin Transactions and Fees

I have a Bitcoin wallet with a (bc1pt……) address and got a bunch of tiny payments, like 2000 Satoshis each. How do I keep the transaction fees as low as possible?

You should just chill and wait for the mempool to chill out. Like, 1 or 2 sats per vMB is what you want. Then you can merge those addresses. Right now it's a mess. Oh, and there's a post by LoyceV about handling bitcoin dust. Good luck finding it; might take a while lol.

You're dealing with a Taproot address, which is kinda good. But nobody can tell you how much you'll pay without knowing the total size of the transaction. If you can share how many UTXOs you have, that’d help to figure out the inputs. Also, check out this thread on calculating transaction size. It’s a good resource.

So what gas fee you talking about? If you don’t wanna send everything at once, you can probably do it at a normal fee. But if you’re consolidating everything, get ready for a hefty fee.

Just to clarify, I created a mint inscription tool. Got hit with around 5,000 transactions at 2000 Satoshis each. Now I'm stuck since the gas fees are outrageous. Can’t handle that cost.

Wow, 5000 transactions to a pay-to-Taproot. That's 287556 vbyte total. You can't send more than 100,000 vbyte in one go. So get an Electrum or Sparrow wallet to manage those UTXOs, and split it into, like, 3 transactions. Better wait for low mempool congestion, though.

There isn’t any ‘gas’ in Bitcoin, just transaction fees. If you have 0.1 BTC in tiny amounts, yeah, you might be in trouble. And those ‘inscription’ guys are annoying with the fees, but hey, karma right? Just wait it out and aim for 1 sat/vbyte.

Sounds like a lot of moves. Not sure if you can move all of that at once. Current network congestion might eat your total value in fees. Also, gas fees? That’s more an Ethereum thing.

Right, he means transaction fees. Bitcoin doesn’t deal with gas. Since you have a ton of UTXOs, it'll cost a lot just to send those tiny payments. 2000 Satoshis is super low, and with fees the way they are, your total may not cover it.

Thanks for the insight, y’all! So, it’s basically about waiting for those fees to drop to a decent level… no other way around it.

Quick question though, why did ‘they’ send you so many tiny payments? Was it multiple people or just one?

Fees may not drop to your ideal level for Bitcoin mainnet, especially depending on your address type. Sometimes you just can’t spend a tiny amount, unless you go for LN or second layers. There’s this cool calculator by Jameson Lopp for unsendable UTXOs.

Sometimes even if your fee options are below the network's minimum, you can still force the transaction by signing it offline and using manual broadcast services. I tried that a couple years back, and it actually worked!