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Author Topic: Transaction fees got higher ?  (Read 649 times)
immangrace (OP)
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June 16, 2016, 10:19:25 AM
 #1

Hello, I used to do transactions with 25 sat/byte and it would be confirmed in 10 minutes at max. Now I use 60 sat/byte and it takes hours to confirm, did the miners raise their fees for confirming transactions ?
Shouldn't fees be a bit lower now that Bitcoin is more expensive ?

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pedrog
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June 16, 2016, 10:56:41 AM
 #2

Network is congested like it has been for months, sometimes it gets really bad.

Check these:

http://www.bitcoinqueue.com/
https://blockchain.info/unconfirmed-transactions
https://btc.com/stats/unconfirmed-tx

ahmedjamal1998
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June 16, 2016, 11:08:25 AM
 #3

I didn't really hear about any increase in fees or anything similar.
It jut depends on the number of transactions at that very specific time. Sometimes they are so many (really a lot) that miners can't catch up with the transactions which leads to delay in confirmations.
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June 16, 2016, 01:58:12 PM
 #4

Hello, I used to do transactions with 25 sat/byte and it would be confirmed in 10 minutes at max. Now I use 60 sat/byte and it takes hours to confirm, did the miners raise their fees for confirming transactions ?
No, blocks are getting filled to the brim, not a sign of them raising their criteria for fee. The problem is the huge influx of transactions that pays a higher or equal fee than you. You can try to use bitcoinfees.21.co as a estimate for TX fee.
Shouldn't fees be a bit lower now that Bitcoin is more expensive ?
No, they can choose not to do that. If they did set a limit, they would likely have no effect on the confirmation times unless its a collective effort by many big miners. But anyway, pools usually don't regulate them unless there is a need (eg. Huge and obvious spam attacks).

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onlinedragon
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June 16, 2016, 02:08:35 PM
 #5

How more unconfirmed transactions there are the longer you can wait for it got processed. I found on this forum a nice website http://www.bitcoinqueue.com/ you can read more about it here: https://bitcointalk.org/index.php?topic=1511347.0. There you can easily see how much unconfirmed transaction there are on what time and how you can calculate the fees.

immangrace (OP)
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June 16, 2016, 02:12:01 PM
 #6

Ok, thank you all for the good replies, now I will check before if I have an urgent transaction to see if the blockchain is jammed or not and put the fee accordingly.

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