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When sending Bitcoin transactions, we need to pay fees. But how does the network determine how much we should pay?
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When sending Bitcoin transactions, we need to pay fees based on how much block space our transaction occupies. There are three main ways to measure a transaction's size:
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It all comes down to space - specifically, how much space our transaction takes up in a block.
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-**Transaction Size**: The raw byte count of the transaction
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-**Transaction Weight**: A weighted measure that counts witness data differently
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-**Virtual Bytes (vBytes)**: Used for fee calculations (covered in the next topic on fee rates)
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## Transaction Size (Legacy)
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## Transaction Size
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Originally, measuring transaction size was straightforward:
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The most straightforward measurement is the raw byte count of a transaction:
For example, if you have a transaction with base data of 200 bytes and witness data of 100 bytes, the weight would be: (200 × 4) + 100 = 900 weight units
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This formula means:
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- Base data counts heavily (4× weight)
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- Witness data counts lightly (1× weight)
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Where:
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-**Base Size** = Size of transaction data without witness data (signatures)
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-**Witness Size** = Size of witness data (signatures) only
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