Basic SWEEP questions

[3robins]

Thanks again for taking the time to post that. I spent some time trying to figure it out, but in the end I'm overwhelmed, so I will wrap this up with the basic bottom line...

When I sent my friend the test with .0001 BTC he received .0000927 BTC (around 7.3%) so going by his math, when I send him 0.3 BTC ($30k) there is going to be a transaction fee, and when he moves it out of his wallet there is second transaction fee, therefore he believes that he will receive approximately .26 BTC ($26k in the end). So according to him both transaction fees might cost around $4000 total. That seemed high to me, but again I understand this all depends on the time of day, how busy network is, and I have no control over how and when he does his transaction.

I'm a generous person, not greedy, and I understand he needs to make money on the merchandise and transaction, but I don't want to get raked over the coals either.

[hosemary]

When I sent my friend the test with .0001 BTC he received .0000927 BTC (around 7.3%) so going by his math, when I send him 0.3 BTC ($30k) there is going to be a transaction fee, and when he moves it out of his wallet there is second transaction fee, therefore he believes that he will receive approximately .26 BTC ($26k in the end).

As I said in my previous post, the transaction fee doesn't depend on the amount of bitcoin you send. In the other words, it's not that you pay a percentage of sending amount as transaction fee.
If you make a transaction to your friend with the same fee rate as your previous transaction, your friend will receive 0.2999927 BTC.

Even if you set the fee rate to 10 sat/vbyte (which is now much more than enough), you will pay less than 2000 sat (around $2 worth of bitcoin).
Don't worry about the fees.

[3robins]

As I said in my previous post, the transaction fee doesn't depend on the amount of bitcoin you send. In the other words, it's not that you pay a percentage of sending amount as transaction fee.
 
If you make a transaction to your friend with the same fee rate as your previous transaction, your friend will receive 0.2999927 BTC.

Even if you set the fee rate to 10 sat/vbyte (which is now much more than enough), you will pay less than 2000 sat (around $2 worth of bitcoin).

Don't worry about the fees.

According to your previous post, you are going to make a transaction from a legacy address to a native segwit address.

If that's the case, your transaction (virtual) size will be around 190 vbytes and you will pay around 190 vbytes * fee rate (in sat/vbyte) as fee.

For example, if you set the fee rate to 2 sat/vbyte, you will pay around 380 sat as transaction fee.

To know how much fee rate you need to use for your transaction, you can visit mempool.space and you can also use electrum's own fee estimations. Both work well.

I've been meditating on that and I think I'm starting to understand, so on the mempool main page the green example blocks showing the sat, btc amount, and approx transaction time... Then below that is shows transaction fees (no priority, low priority, medium priority, high priority) with the sat v/B under it, but I don't understand the dollar amount they show with it and how it relates to my specific situation (i.e. right now it shows medium priority 4 sat/vB is $0.58).

For example, using your example above, if it was 4 sat/vB and I paid 760 sat as a transaction fee, how much would be deducted from 0.3 BTC?

[hosemary]

but I don't understand the dollar amount they show with it and how it relates to my specific situation (i.e. right now it shows medium priority 4 sat/vB is $0.58).

The fiat values of fees displayed on mempool.space are for a normal segwit transaction with 1 input and 2 output which is around 140 vbytes in size.
With the fee rate of 4 sat/vbyte for such transaction, the absolute fee would be 4 × 140 = 560 sat (around $0.58 at the current rates)

Your transaction will include 1 legacy input and 1 segwit output and will be around 190 vbyte.
So, if you set the fee rate to 4 sat/vbyte, the absolute fee would be around 4 × 190 = 760 sat (around $0.79 at the current rates).

For example, using your example above, if it was 4 sat/vB and I paid 760 sat as a transaction fee, how much would be deducted from 0.3 BTC?

760 sat equals to 0.0000076 BTC and that will be all the fee you will pay for your transaction.

Again, the transaction fee doesn't depend on the amount of bitcoin you send.
The transaction fee depends on the fee rate and the (virtual) size of you transaction and it doesn't matter whether you send 0.001 BTC, 0.3 BTC or 10 BTC.

[3robins]

Thanks again for all your assistance. Despite BTC going up in value to all time highs over the weekend increasing his profit margin, the deal fell through in the final hour because I was giving up too much BTC for the merchandise ($32k vs $25k = $7k loss) and the maximum I was willing to sacrifice was $6k. There was no flexibility on his part, even after I explained the fee structure to him. I greatly appreciate your time and knowledge, so now that I have a better understanding of Electrum, once I get my digital wallet up and running this year, which could take months due to having so many other high-priority projects going on, I will definitely send you something as a thank you if you message me your public address.