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Author Topic: Low transaction fee :(  (Read 1265 times)
ranlo
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July 04, 2015, 01:52:10 PM
 #21

So, I have a medium Priority transaction that is not confirming, I know I have to wait but just wanted to know if this is happened to any of you and how long have you actually waited?...

I have read that it can take up to a week if you dont pay any fees, but I did, I paid the normal fee that Electrum charges me and it was always fine, only this time it is "medium priority"

Anywayz, here is the transaction: https://blockchain.info/tx/ca044196bde76b52dc49f3f3b4d3f4c1ae493d92fa4f5b45dd35ec1ca9fbc33a

Thanks!

To answer this question (I know it has been confirmed now), you really need 0.0002 BTC in fees to be competitive. Most places use 0.0001 BTC or higher. When you go lower than 0.0001, I believe it's almost the equivalent to not adding any fees at all (i.e., sending the transaction with NO fees). That said, they will still confirm, once it's gotten to the point where its age has brought it to a more "desirable" state.
It depends on the size of the transaction and network load. 0.00001/kb is fine for non urgent transactions while 0.0001/kb is better for fast transactions. However, the network load can still affect the confirmation speed seen from the recent stress test and most people had to pay 0.0002BTC/kb to get fast confirmations.

I specifically stated to remain competitive. Stating that I'm wrong and then bringing up costs for less important transactions means you didn't read my post. If you don't need it confirmed quickly, that transaction is less of a priority and therefore you don't need competitive fees. No crap. You don't need ANY fees in this case.

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hcf27 (OP)
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July 04, 2015, 02:23:51 PM
 #22

So, I have a medium Priority transaction that is not confirming, I know I have to wait but just wanted to know if this is happened to any of you and how long have you actually waited?...

I have read that it can take up to a week if you dont pay any fees, but I did, I paid the normal fee that Electrum charges me and it was always fine, only this time it is "medium priority"

Anywayz, here is the transaction: https://blockchain.info/tx/ca044196bde76b52dc49f3f3b4d3f4c1ae493d92fa4f5b45dd35ec1ca9fbc33a

Thanks!
it took the transaction ~13 minutes to get confirmation so it was ok.
the time-frame of 5-15 minutes is usually what my experience is with confirmations.

It took 828 minutes to be exact


"Summary
Size   977 (bytes)
Received Time   2015-06-30 11:43:50
Included In Blocks   363279 ( 2015-07-01 01:31:26 + 828 minutes )"
Muhammed Zakir
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July 04, 2015, 05:26:04 PM
 #23

So, I have a medium Priority transaction that is not confirming, I know I have to wait but just wanted to know if this is happened to any of you and how long have you actually waited?...

I have read that it can take up to a week if you dont pay any fees, but I did, I paid the normal fee that Electrum charges me and it was always fine, only this time it is "medium priority"

Anywayz, here is the transaction: https://blockchain.info/tx/ca044196bde76b52dc49f3f3b4d3f4c1ae493d92fa4f5b45dd35ec1ca9fbc33a

Thanks!

To answer this question (I know it has been confirmed now), you really need 0.0002 BTC in fees to be competitive. Most places use 0.0001 BTC or higher. When you go lower than 0.0001, I believe it's almost the equivalent to not adding any fees at all (i.e., sending the transaction with NO fees). That said, they will still confirm, once it's gotten to the point where its age has brought it to a more "desirable" state.
It depends on the size of the transaction and network load. 0.00001/kb is fine for non urgent transactions while 0.0001/kb is better for fast transactions. However, the network load can still affect the confirmation speed seen from the recent stress test and most people had to pay 0.0002BTC/kb to get fast confirmations.

I specifically stated to remain competitive. Stating that I'm wrong and then bringing up costs for less important transactions means you didn't read my post. If you don't need it confirmed quickly, that transaction is less of a priority and therefore you don't need competitive fees. No crap. You don't need ANY fees in this case.

That is not true. Even if the coin age is high, some miners may not include your transaction if it has no fees because it decrease their profit.

ranlo
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July 04, 2015, 06:53:50 PM
 #24

So, I have a medium Priority transaction that is not confirming, I know I have to wait but just wanted to know if this is happened to any of you and how long have you actually waited?...

I have read that it can take up to a week if you dont pay any fees, but I did, I paid the normal fee that Electrum charges me and it was always fine, only this time it is "medium priority"

Anywayz, here is the transaction: https://blockchain.info/tx/ca044196bde76b52dc49f3f3b4d3f4c1ae493d92fa4f5b45dd35ec1ca9fbc33a

Thanks!

To answer this question (I know it has been confirmed now), you really need 0.0002 BTC in fees to be competitive. Most places use 0.0001 BTC or higher. When you go lower than 0.0001, I believe it's almost the equivalent to not adding any fees at all (i.e., sending the transaction with NO fees). That said, they will still confirm, once it's gotten to the point where its age has brought it to a more "desirable" state.
It depends on the size of the transaction and network load. 0.00001/kb is fine for non urgent transactions while 0.0001/kb is better for fast transactions. However, the network load can still affect the confirmation speed seen from the recent stress test and most people had to pay 0.0002BTC/kb to get fast confirmations.

I specifically stated to remain competitive. Stating that I'm wrong and then bringing up costs for less important transactions means you didn't read my post. If you don't need it confirmed quickly, that transaction is less of a priority and therefore you don't need competitive fees. No crap. You don't need ANY fees in this case.

That is not true. Even if the coin age is high, some miners may not include your transaction if it has no fees because it decrease their profit.

I run that as a test every couple months. I've yet to have an issue with it -- they usually confirm within 3 blocks.

Edit: this isn't to say it won't be an issue in the future, though. But with the increasing block sizes and such on the horizon, I don't think it will be.

https://nanogames.io/i-bctalk-n/
Message for info on how to get kickbacks on sites like Nano (above) and CryptoPlay!
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