Bitcoin Forum

Bitcoin => Bitcoin Technical Support => Topic started by: G.Seed on October 05, 2017, 02:08:45 PM



Title: Minimum amount to have transaction verified in a reasonable time
Post by: G.Seed on October 05, 2017, 02:08:45 PM
Hello,

I have sent a transaction, the amount is 5.44709 mBTC, the wallet is greenaddress.it.
Fees are 0.00572 mBTC.
Can the transaction be confirmed in a reasonable time (48 h) or fees are too low ?

Basically, how can we know the minimum amount for fees in order to have our transaction verified in less than 48h ?


Title: Re: Minimum amount to have transaction verified in a reasonable time
Post by: LoyceV on October 05, 2017, 02:24:18 PM
Basically, how can we know the minimum amount for fees in order to have our transaction verified in less than 48h ?
Check https://btc.com/stats/unconfirmed-tx before making a transaction.

Confirmation time depends on the fee per byte. Although you don't give enough information to know it exactly, it can't be more than about 2 satoshi per byte. I don't think it will confirm within 2 days, it may confirm next Sunday (lowest fees happen on Sundays), or it may never confirm.


Title: Re: Minimum amount to have transaction verified in a reasonable time
Post by: G.Seed on October 05, 2017, 03:11:08 PM
Thank you LoyceV.

Size   561 bytes
Fee   0.00000572 BTC
Fee / KB : 0.00001020 BTC
It is less than 2 satoshi per byte.



Title: Re: Minimum amount to have transaction verified in a reasonable time
Post by: TryNinja on October 05, 2017, 07:47:42 PM
Thank you LoyceV.

Size   561 bytes
Fee   0.00000572 BTC
Fee / KB : 0.00001020 BTC
It is less than 2 satoshi per byte.
That's WAY lower than the normal. You can't even use a free accelerator because of the low fee and transaction size.

- ConfirmTX.com accepts free accelerations for transactions up to 500 bytes (yours is 561 bytes);
- ViaBTC accelerator won't accept transactions that have a fee lower than 10 sat/byte;

I suggest you to choose a fee of least 10 sat/byte to be able to at least accelerate your transaction; Or just use a higher fee that may take 1 day to confirm but won't risk to get stuck.


Title: Re: Minimum amount to have transaction verified in a reasonable time
Post by: aleksej996 on October 05, 2017, 08:25:27 PM
Basically, how can we know the minimum amount for fees in order to have our transaction verified in less than 48h ?

There is no certainty, only prediction. You can use sites like already mentioned or https://bitcoinfees.21.co/ (https://bitcoinfees.21.co/)
You can search the Internet on how to do a CPFP(only if the transaction is sending coins to an address controlled by you) or a double spend to get the transaction confirmed.
In future you can also use Replace by fee feature so you can just change the fee in your transaction even after it has been broadcasted to the network.


Title: Re: Minimum amount to have transaction verified in a reasonable time
Post by: G.Seed on October 06, 2017, 08:43:19 AM
Thank you.

I am lucky, my transaction has been accepted this morning. I thought I had to wait until sunday evening.