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Title: Made my first payment with bitpay :D Post by: aplistir on December 09, 2020, 01:24:15 PM Bitcoin has come a long way.
Yesterday I made my first payment using bitpay and electrum. It was surprisingly easy. Easy enough for any normal non-technical person to be able to do the same. The only drawback was that the fee was automatically set to be quite high: 72 sat/byte, when 10 say/byte would have confirmed in approximately one hour. And still it took more than 30min to confirm. And the remaining BTC in my address are still worth more than what I paid for them. Even though I have used parts of them several times already. ;D Title: Re: Made my first payment with bitpay :D Post by: BlackHatCoiner on December 09, 2020, 01:31:25 PM On electrum you can just change the fee to whatever you want. Just press the "Advanced" button once it pops up you the estimated fee. The custom fee is on the bottom left. You then sign the transaction and broadcast it.
The only drawback was that the fee was automatically set to be quite high: 72 sat/byte, when 10 say/byte would have confirmed in approximately one hour. And still it took more than 30min to confirm. The actual drawback is the time. And it'll be a main issue from now on. If you pay 5-10 cents at fees on a transaction, it may take days to get confirmed. While unconfirmed transactions increase the blockchain "storage" becomes more and more valuable.Title: Re: Made my first payment with bitpay :D Post by: BITDV on December 09, 2020, 03:51:24 PM Bitcoin has come a long way. Yesterday I made my first payment using bitpay and electrum. It was surprisingly easy. Easy enough for any normal non-technical person to be able to do the same. The only drawback was that the fee was automatically set to be quite high: 72 sat/byte, when 10 say/byte would have confirmed in approximately one hour. And still it took more than 30min to confirm. And the remaining BTC in my address are still worth more than what I paid for them. Even though I have used parts of them several times already. ;D Actually we can setup custom fee, but afaik more bigger your fee so transaction confirmation will become faster and vice versa Title: Re: Made my first payment with bitpay :D Post by: boyptc on December 09, 2020, 03:58:14 PM Good for you then.
when 10 say/byte would have confirmed in approximately one hour. And still it took more than 30min to confirm. Regarding this, even if you pay 10sats/b you can accelerate it through viabtc.--> https://www.viabtc.com/tools/txaccelerator Getting 1 confirmation maybe around 7-10 minutes based from my experience. Title: Re: Made my first payment with bitpay :D Post by: Pom_bensin on December 09, 2020, 04:10:33 PM Bitcoin has come a long way. maybe it would be more effective if the fee could be low and the transaction could be faster, for example 2 minutes or a maximum of 5 minutes it would be better. but this is good because you have successfully paid via BitpayYesterday I made my first payment using bitpay and electrum. It was surprisingly easy. Easy enough for any normal non-technical person to be able to do the same. The only drawback was that the fee was automatically set to be quite high: 72 sat/byte, when 10 say/byte would have confirmed in approximately one hour. And still it took more than 30min to confirm. And the remaining BTC in my address are still worth more than what I paid for them. Even though I have used parts of them several times already. ;D Title: Re: Made my first payment with bitpay :D Post by: Hobo66 on December 09, 2020, 06:29:51 PM Bitcoin has come a long way. when you go with default fee, it will set a average fee like you said 72 sat/byte. you can either stick with that or change it to custom fee and set a fee of your own choice. as you said it took 30 min to confirm. if you've set lower fee then it would take longer and higher fee would take lesser time to confirm the transactions.Yesterday I made my first payment using bitpay and electrum. It was surprisingly easy. Easy enough for any normal non-technical person to be able to do the same. The only drawback was that the fee was automatically set to be quite high: 72 sat/byte, when 10 say/byte would have confirmed in approximately one hour. And still it took more than 30min to confirm. And the remaining BTC in my address are still worth more than what I paid for them. Even though I have used parts of them several times already. ;D with electrum you can do that fee adjustment very well. I don't know about Bitpay tho.. BTW. congrats on your first Bitcoin Payment. |