Bitcoin Forum
June 23, 2024, 12:57:01 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Bitcoin / Bitcoin Technical Support / Re: [May 2021] Fees are low, use this opportunity to Consolidate your small inputs! on: May 31, 2021, 01:38:11 AM
Yesterday (after epoch changed) the tip was at 4sat/b.

Exactly what causes fee to be so low? Pre epoch change it was 350 blocks behind the pace. Now it's running on 98% effectivity. Does the pool release any unfulfilled transactions when epoch changes?
The difficulty until the third block was reduced by 45+% to the current one; increasing/decreasing by insignificant amounts of 0,X%
2  Bitcoin / Bitcoin Technical Support / Re: [May 2021] Fees are low, use this opportunity to Consolidate your small inputs! on: May 28, 2021, 10:31:38 PM
If you we're to guess when the fees are on a lower niveau again, what would you suggest? 42 Satoshi feels a bit out of pace. https://imgur.com/a/IZCrNkj
Based on Johoe's site: 6 sat/byte is enough now for a fast confirmation. Since you're only sending 0.0001 BTC, that's already high, but if you go lower than 5, it may take days/weeks/months to confirm. My advice: try to avoid such small Bitcoin transactions.

Quote
curious how much "money fits into a block" as some swaps for 130k go with 130 Satoshis.
I'm not sure what you're asking: blocks are limited by size (in bytes), not in "money".

I'm not familiar how a transaction is being divided into memory/blocks, what determines the size, how fees choose that it can be mined within 1 block or over 30 etc.. => More cryptomoney = Relatively bigger memory size = more fees.  It would likely explain itself If I were to dig into how blockchains operate, but made me curious about how fees work. As in if theres a higher fee for really small transfers like my 0.0001 btc. vs lower/optimal fees when transfering something of Size X.

8% fee for moving money is really much. That's why I've been asking myself how to lower the 5-10 Sat/b.

https://imgur.com/a/5GMbRVu
The 0.0001 transaction was my first transaction. It's main purpose is for me to confirm that actually everything arrives at my exchange wallet. Besides that: It's nice to see live how many mb from the tip away you are with 0.2 satoshi per block. 30 is close. Sunday difficulty is supposed to go -15% (easier?), so even cheaper if I read correctly?
3  Bitcoin / Bitcoin Technical Support / Re: [May 2021] Fees are low, use this opportunity to Consolidate your small inputs! on: May 25, 2021, 06:15:17 AM
I'll need to catch up to what's written first. Became curious how much "money fits into a block" as some swaps for 130k go with 130 Satoshis.

The lowest I've seen it go was 12 at low prio. 5-10 makes it definitely likely to hit the mempool anywhere at all..
4  Bitcoin / Bitcoin Discussion / Re: When will the fees come down? Fees wallet dependend? on: May 25, 2021, 05:28:55 AM
For anyone interested in how you manually change your fees so to apply to the blockchain, continue here on page 18: https://bitcointalk.org/index.php?topic=2848987.new#new
5  Bitcoin / Bitcoin Technical Support / Re: [May 2021] Fees are low, use this opportunity to Consolidate your small inputs! on: May 25, 2021, 05:19:25 AM
I'll respond to the other thread I made with a link over here, unless you edit your response.

Ohh I see. When I downloaded the APP; or even when I used in in Tails some (longer time) ago there was no introduction to this function. You can just tap the Feerate (Number) which isn't visual to change the rates.

Quote
The average mempool size is quite low right now and you may be able to send a priority txn (1mb from tip) with <10sat/B fee rate.
So would you recommend this option? How likely is it to ever arrive when I go cheap with Fee rate 2.7 or 1.3 sat/B?

Edit: I am aware of the blockspaces btw: https://mempool.space/de/
6  Bitcoin / Bitcoin Technical Support / Re: [May 2021] Fees are low, use this opportunity to Consolidate your small inputs! on: May 25, 2021, 04:55:12 AM
That is indeed electrum. It is supposed to move over to Kraken. I'm unsure if Kraken offers changing ETA to Mempool..
7  Bitcoin / Bitcoin Discussion / When will the fees come down? Fees wallet dependend? on: May 25, 2021, 04:46:13 AM
Hi. I wanted to put send some BTC from electrum to kraken. Being charged 42 satoshi per block horrified me a little.
Is the fee dependend to which exchange/wallet it goes or is it entirely based on the challenged memepool? When would you say it settles a bit? https://imgur.com/a/IZCrNkj
8  Bitcoin / Bitcoin Technical Support / Re: [May 2021] Fees are low, use this opportunity to Consolidate your small inputs! on: May 25, 2021, 04:37:41 AM
If you we're to guess when the fees are on a lower niveau again, what would you suggest? 42 Satoshi feels a bit out of pace. https://imgur.com/a/IZCrNkj
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!