Bitcoin Forum

I supposed to be updating this thread: https://bitcointalk.org/index.php?topic=5556620.msg65724891#msg65724891

But I noticed it will be of no much effect if the OP is not updating it, so the reason I am create another thread for it for people to know what is going on about using transaction fee that is less than 1 sat/vbyte.

First of all, know that I have been using 1 sat/vbyte since some weeks ago, but it is getting easier day by day as more wallets are supporting it.
Second, make sure you first check the mempool for it. If you are not also in a hurry, you can use it. This is the mempool that you should use for it: https://mempool.jhoenicke.de/#BTC,24h,weight

For Electrum, read this guide: https://bitcointalk.org/index.php?topic=5556044.msg65713295#msg65713295
The guide (https://bitcointalk.org/index.php?topic=5556044.msg65713295#msg65713295) is also available for Trezor suite
For Bluewallet, read this guide, https://bitcointalk.org/index.php?topic=5556044.msg65860312#msg65860312
You do not need any guide for Sparrow. It is there already.

Electrum has 0.1 sat/vbyte fee in its testnet already, I believe it will not require any guide likely in the next update.

This is good to know.
Just wondering  if  miners will like the idea of <1sat/vbyte   although there's  still some rewards attached for minning  a block anyways.
Also, for anyone trying to use the servers always add the port number ":50002"  for it to work,it's  mentioned on the thread but incase anyone misses that because  I did while trying to use on Electrum

Although, it will get better. I have been using Sparrow now without any change to server or port and it is working. I started using it again after the update that included less than 1 sat/vbyte and I have used it two times. I think the next Electrum update will be with the low fee rate without any change in server and the use of console.

I think the fee in this regard has to do with being able to adjust the fee rate to our desirable sat/vbyte as being affordable by us, the wallet don't customize the fee as a fix rate, but we can only adjust on them to the least which is 1sat/vbyte, while some wallet couldn't help acheive on this, every other things have to depend on the mempool and how it has been found congested or not.

The reason why it is possible use 1 sat/vbyte in those few wallets you mentioned is because the mempool is less congested and the mining fees has drastically reduced. Yesterday i made a transaction of close to 500 USD (in bitcoins) and i was charged as low as 0.90 USD as mining fee and the fee rate was 1.1 sat/vbyte and my target was just within 2 blocks on electrum wallet. It took less than an hour for the transaction to be confirmed.

You will be able to customize the fee rate not just to only 1 sat/vbyte but to 0.1 sat/vbytes. The least that I have used which I commonly use is 0.3 sat/vbyte but I have used 0.4 sat/vbyte just once.

You will be able to use less than 1 sat/vbyte is what I am posting about.

Suggestions:
Always double-check mempool congestion before sending with <1 sat/vbyte, avoid using such low fees when the network is busy,If your wallet supports Replace-by-Fee (RBF), enable it, just in case you need to bump the fee later. Lastly, let’s continue to test, share results, and encourage wallet developers to support more flexible fee customization.

It is no more a suggestion because I have this in the OP.


All the wallets I mentioned in the OP are supporting replace-by-fee and the replace-by-fee is enabled by default. If you are using any of the wallet, all transactions support opt-in replace-by-fee.

I can not include any wallet that is not supporting replace-by-fee. I do not recommend them.

Electrum adding low fee rates will make things even better and flexible, which makes it easier for users to have more control and save money. While sparrow working perfectly without port is a good sign, which both makes it very helpful or easy to manage Bitcoin.

ItIt’s a policy rule  not a consensus rul e though, which means that if more people run their servers with a minrelaytxfee of 0.1 sat/vbyte, users would have more options to choose from. Otherwise, Bitcoin Core itself would need to allow less than 1 sat/vbyte by default before Electrum could easily whitelist such servers.

I’m not sure if Electrum can still whitelist servers without the policy changing, but that would be even better since Electrum could simply include those servers, and users would be able to select them easily. Still, users would need to manually choose a server that supports <1 sat/vbyte transactions, since not all nodes can be forced to use lower relay fees.