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Title: I made a simple realtime page for mempool size and fee estimations Post by: spookiestevie on June 23, 2019, 10:20:15 PM This is my first post on BTCtalk :D
I made a simple realtime page for mempool size and fee estimations. You can get a good idea of how long it will take a transaction to get 1 conf with a combination of the current sat/byte fee rate and the number of transactions in the mempool. Sometimes I like to spend time optimising my transaction fees to best suit my time preference as well as the fact that I don't have much bitcoin to throw at miners (sorry not sorry). :P Check it out, feel free to give feedback, thanks! https://spookiestevie.com/bitcoin/ Title: Re: I made a simple realtime page for mempool size and fee estimations Post by: OmegaStarScream on June 24, 2019, 06:02:37 PM For the fee estimation, are you simply retrieving the data from bitcoinfees.earn.com because the estimation seems to be the same, or you're calculating it yourself? Regardless though, I suggest working on that because coinb.in is far more accurate and also cheaper (from experience).
Title: Re: I made a simple realtime page for mempool size and fee estimations Post by: o_e_l_e_o on June 25, 2019, 09:37:38 AM Yeah, your fee estimations don't seem very accurate at all. At time of writing, your site is suggesting:
Fastest: 72 sat/byte 30 min: 66 sat/byte 60 min: 50 sat/byte Looking at the third graph here (https://jochen-hoenicke.de/queue/#1,2h), both 72 and 66 sat/byte put you with 0.5 megabytes of the tip, and so are both likely to be confirmed in the next block. 50 sat/byte puts you within 1 megabyte of the tip, and could also get you in the next block, but probably within 2 or 3 unless the mempool sees another spike in activity. As OmegaStarScream says, bitcoinfees.earn.com is notoriously unreliable and grossly overestimates the required fees. Title: Re: I made a simple realtime page for mempool size and fee estimations Post by: kryptqnick on June 25, 2019, 02:37:13 PM I like the whole idea, especially since the suggested fees are now very significant. But I would also like to know how you make these estimates and how likely they are according to your views. Do you use this data, for instance: https://jochen-hoenicke.de/queue/#0,24h? And how do your website's estimates differ from, say, bitcoin fees calculator: https://www.buybitcoinworldwide.com/fee-calculator/?
I remember that there has been a situation before when the recommended fees were too high, and basically there was no need to actually pay that much, especially since so many people were paying that. But I usually don't risk to experiment with fees and simply pay what blockchain.com tells me to pay. If there was a way to pay less while being strongly sure that it won't cause serious delays, I'd be interested in that. |