Bitcoin Forum
May 06, 2024, 10:53:47 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Transaction fees got higher ?  (Read 649 times)
immangrace (OP)
Full Member
***
Offline Offline

Activity: 196
Merit: 100


View Profile
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 ?

1715036027
Hero Member
*
Offline Offline

Posts: 1715036027

View Profile Personal Message (Offline)

Ignore
1715036027
Reply with quote  #2

1715036027
Report to moderator
1715036027
Hero Member
*
Offline Offline

Posts: 1715036027

View Profile Personal Message (Offline)

Ignore
1715036027
Reply with quote  #2

1715036027
Report to moderator
1715036027
Hero Member
*
Offline Offline

Posts: 1715036027

View Profile Personal Message (Offline)

Ignore
1715036027
Reply with quote  #2

1715036027
Report to moderator
You can see the statistics of your reports to moderators on the "Report to moderator" pages.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715036027
Hero Member
*
Offline Offline

Posts: 1715036027

View Profile Personal Message (Offline)

Ignore
1715036027
Reply with quote  #2

1715036027
Report to moderator
pedrog
Legendary
*
Offline Offline

Activity: 2786
Merit: 1031



View Profile
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
Hero Member
*****
Offline Offline

Activity: 714
Merit: 537


View Profile WWW
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.
ranochigo
Legendary
*
Offline Offline

Activity: 2954
Merit: 4166


View Profile
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).

.
.HUGE.
▄██████████▄▄
▄█████████████████▄
▄█████████████████████▄
▄███████████████████████▄
▄█████████████████████████▄
███████▌██▌▐██▐██▐████▄███
████▐██▐████▌██▌██▌██▌██
█████▀███▀███▀▐██▐██▐█████

▀█████████████████████████▀

▀███████████████████████▀

▀█████████████████████▀

▀█████████████████▀

▀██████████▀▀
█▀▀▀▀











█▄▄▄▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
.
CASINSPORTSBOOK
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
▀▀▀▀█











▄▄▄▄█
onlinedragon
Hero Member
*****
Offline Offline

Activity: 1036
Merit: 501


View Profile
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)
Full Member
***
Offline Offline

Activity: 196
Merit: 100


View Profile
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.

Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!