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Bitcoin => Bitcoin Discussion => Topic started by: AGD on September 02, 2017, 08:32:56 AM



Title: A fee of 4,6sat/b is ridicolously low!!!
Post by: AGD on September 02, 2017, 08:32:56 AM
https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f
2 Dollars sent with a 5 Cent fee, fully confirmed in not even 12 hours.


Title: Re: A fee of 4,6sat/b is ridicolously low!!!
Post by: Emoclaw on September 02, 2017, 08:48:25 AM
There are other ways for a transaction to be confirmed besides waiting when using a low fee.
There are services where a user can pay to have his transaction included in the next block mined by a pool.
ViaBTC has a free such service but they don't accept transactions below 10 sats/b fee.


Title: Re: A fee of 4,6sat/b is ridicolously low!!!
Post by: aso118 on September 02, 2017, 09:02:44 AM
https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f
2 Dollars sent with a 5 Cent fee, fully confirmed in not even 12 hours.

Did you turn lucky or does this even happen in the real world? I first thought it could be something related to child-pays-for-parent, but that doesn't seem to be the case here. Both outputs are unspent.


Title: Re: A fee of 4,6sat/b is ridicolously low!!!
Post by: Iranus on September 02, 2017, 09:19:38 AM
https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f
2 Dollars sent with a 5 Cent fee, fully confirmed in not even 12 hours.

Did you turn lucky or does this even happen in the real world?
It happens.  Actually, the fee estimating site (https://bitcoinfees.21.co) is showing that even zero-fee transactions are being confirmed (whether that'll last I don't know).

AGD should try sending a zero-fee transaction just for the sake of saying that 0 satoshi/byte is ridiculously low.

That said, it's not like most consumers are willing to send to a merchant online and wait twelve hours before their transaction confirms.


Title: Re: A fee of 4,6sat/b is ridicolously low!!!
Post by: olushakes on September 02, 2017, 09:23:01 AM
https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f
2 Dollars sent with a 5 Cent fee, fully confirmed in not even 12 hours.

I really don't understand what we all want, when the transaction fee was high we all complained to the high heavens that it's was exorbitant  and now the fee is low we are still complaining. I expect that what should be done is to give credit to those who went to activate segwit to have witnessed fees ridiculous as this.


Title: Re: A fee of 4,6sat/b is ridicolously low!!!
Post by: talkbitcoin on September 02, 2017, 09:37:03 AM
https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f
2 Dollars sent with a 5 Cent fee, fully confirmed in not even 12 hours.

Did you turn lucky or does this even happen in the real world? I first thought it could be something related to child-pays-for-parent, but that doesn't seem to be the case here. Both outputs are unspent.

it is not luck, it happens sometimes!
it is actually pretty funny because if you check the block itself (483017) (https://blockchain.info/block-index/1625759) you can see that about 90% of the transaction inside of it have a fee less than 10 s/B!


Title: Re: A fee of 4,6sat/b is ridicolously low!!!
Post by: BitcoinPricingtool on September 02, 2017, 10:34:29 AM
The issue isn't about the amount, Regardless of whether it's 2 USD or 20K USD, as long as the size in bytes and the total fees are reasonable with the network TX level it will get confirmed.
For the current TX time, I would say something along the range of 30 Satoshi per byte minimum, if you want it confirmed within few hours, but with 4,6, it wouldn't be strange to have to wait for days until a miner include it.


Title: Re: A fee of 4,6sat/b is ridicolously low!!!
Post by: panju1 on September 02, 2017, 10:52:53 AM
https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f
2 Dollars sent with a 5 Cent fee, fully confirmed in not even 12 hours.

Did you turn lucky or does this even happen in the real world? I first thought it could be something related to child-pays-for-parent, but that doesn't seem to be the case here. Both outputs are unspent.

it is not luck, it happens sometimes!
it is actually pretty funny because if you check the block itself (483017) (https://blockchain.info/block-index/1625759) you can see that about 90% of the transaction inside of it have a fee less than 10 s/B!

Maybe it is something to do with the miner who mined that block? He decided to confirm low fee transactions, just to get a kick out of it?


https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f
2 Dollars sent with a 5 Cent fee, fully confirmed in not even 12 hours.

Did you turn lucky or does this even happen in the real world?
It happens.  Actually, the fee estimating site (https://bitcoinfees.21.co) is showing that even zero-fee transactions are being confirmed (whether that'll last I don't know).

AGD should try sending a zero-fee transaction just for the sake of saying that 0 satoshi/byte is ridiculously low.

That said, it's not like most consumers are willing to send to a merchant online and wait twelve hours before their transaction confirms.

Zero fee transaction? Haven't sent one across in years. That would really be something, if they were to make a comeback.
That would take the wind out of most block capacity arguments.


Title: Re: A fee of 4,6sat/b is ridicolously low!!!
Post by: sana54210 on September 02, 2017, 05:37:29 PM
Wow, someone seems to be lucky here. I’m  always afraid of sending money/bitcoin with a low priority fee. I use the high fees,  though it’s costly, but I do it to avoid loss. I’ve  experienced  some 30 days a transaction with low fee, and it never got confirmed after 24 hours, and I was surprised when it continued till the next day without getting confirmed. 

Hey OP did you use any accelerating services to push your tx to get confirmation ?


Title: Re: A fee of 4,6sat/b is ridicolously low!!!
Post by: AGD on September 02, 2017, 06:35:23 PM
Wow, someone seems to be lucky here. I’m  always afraid of sending money/bitcoin with a low priority fee. I use the high fees,  though it’s costly, but I do it to avoid loss. I’ve  experienced  some 30 days a transaction with low fee, and it never got confirmed after 24 hours, and I was surprised when it continued till the next day without getting confirmed. 

Hey OP did you use any accelerating services to push your tx to get confirmation ?

The only thing I did, was to adjust the fee manually with Electrum. I always do this.


Title: Re: A fee of 4,6sat/b is ridicolously low!!!
Post by: Kaller on September 02, 2017, 06:42:24 PM
Yes it is indeed, and I think it would go through even if you sent it today... it would just take a LOT longer than it used to. But eventually it would. I sent an 11 sat/b a few weeks ago and it went through within 24 hours!


Title: Re: A fee of 4,6sat/b is ridicolously low!!!
Post by: skyline247 on September 02, 2017, 10:22:08 PM
Wow, someone seems to be lucky here. I’m  always afraid of sending money/bitcoin with a low priority fee. I use the high fees,  though it’s costly, but I do it to avoid loss. I’ve  experienced  some 30 days a transaction with low fee, and it never got confirmed after 24 hours, and I was surprised when it continued till the next day without getting confirmed. 

Hey OP did you use any accelerating services to push your tx to get confirmation ?

Even transactions with 5 satoshis/byte can go through in 24 hours or under a week once the network slows down. It is just that during high traffic times like these when many people are using Bitcoin you need to use high fees to get your transaction through quickly.