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Author Topic: How can we fasten the transaction of payment in BITCOIN paying high fees?  (Read 1277 times)
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December 02, 2016, 07:15:44 AM
 #1

It seems that even you pay fees when transacting or sending through blockchain with bitcoin, you still have to wait for a mean time or maybe a long period of time, but there is a free of charge in sending bitcoin and when you look at the blockchain you ride along with another sender/hash that is paying a fee, is it unfair or there is a logically explanation behind it?.



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December 02, 2016, 07:27:25 AM
 #2

Using higher fees does not guarantee next block inclusion of your transaction.

If you use the recommended fee, you are doing probably the best you can to get it included the fastest as possible.

Unfortunately, sometimes to backlog increases due to spam transactions or slow block finds which may slow down when your transaction gets confirmed.
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December 02, 2016, 07:32:25 AM
Last edit: December 02, 2016, 07:44:59 AM by ranochigo
 #3

To get a confirmation, your transaction has to be included into a block. Unfortunately, blocks aren't fixed at 10 minutes. Varience can cause the blocks to be up to several hours apart and your transaction will not have one confirmation until then no matter how much fees you paid.

Fees acts as a deterrence against spam and as an income for miners. If the fees doesn't exist, spam attacks would take little to no cost and miners would not have any income after the block reward becomes 0.

Miners, although majority choose to queue transactions by fees/size, they can choose to exclude certain transactions even though they may have high fees.

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December 02, 2016, 07:36:13 AM
 #4

It seems that even you pay fees when transacting or sending through blockchain with bitcoin, you still have to wait for a mean time or maybe a long period of time, but there is a free of charge in sending bitcoin and when you look at the blockchain you ride along with another sender/hash that is paying a fee, is it unfair or there is a logically explanation behind it?.

You could have try with coinbase, when compare with blockchain, minimum fees from the coinbase is very less and transferring through blocks and transaction time all seems to similar as I noticed. If you pay the high fees it might go faster than regular one but not sure.
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December 02, 2016, 07:40:27 AM
 #5

It is not guarenteed that if you broadcast your transaction with a high fee you will get it included at the next block.

At the last months bitcoin became more popular so it is pretty hard to have you transaction included in the 1st block that comes out unless you include a very high fee.
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December 02, 2016, 08:35:51 AM
 #6

It seems that even you pay fees when transacting or sending through blockchain with bitcoin, you still have to wait for a mean time or maybe a long period of time, but there is a free of charge in sending bitcoin and when you look at the blockchain you ride along with another sender/hash that is paying a fee, is it unfair or there is a logically explanation behind it?.

being fair or not is an endless argument without any result.
but it happens because blocks are full and there is only finite number of transactions that can be included in blocks each day so this creates some sort of competition that whoever pays the higher fee has the higher priority because miners prefer earning more at the moment.

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December 02, 2016, 08:44:50 AM
 #7

there are no guarantee's.

put it this way. imagine there are only ~2500 seats on a train.. 5000 passengers pay 15cents a ticket.
only 2500 get on the train. and 2500 left waiting at the platform for the next train in ~10 minutes.

however another 5000 people walk onto the platform. see how crowded it is so they pay 16cents.
only 2500 paying 16cents get on the next train. leaving 2500@15cents and 2500 at@16cents on the platform

however another 5000 people walk onto the platform. see how crowded it is so they pay 17cents.
only 2500 paying 17cents get on the next train. leaving 2500@15cents, 2500 at@16cents and 2500 at@17cents on the platform

however another 5000 people walk onto the platform. see how crowded it is so they pay 18cents.
only 2500 paying 18cents get on the next train. leaving 2500@15cents, 2500 at@16cents, 2500 at@17cents and 2500 at@18cents on the platform

paying 15cents which is top rate at train one does not give you any 'first in first on' privileged priority due to when they got on the platform or even asked "urgent need step forward, dont mind waiting step back".

its an auction.. highest payer wins a seat.
the issue is that people are all seeing these 'recommended fee's' and 'estimated fee's and they are then shooting themselves in the foot.
everyone ends up paying more than the last,

if everyone is forced to pay xxcents(many web wallets).. then some people that didnt mind waiting get on, while some that need to get on may not. because priority is not recognised in anyway. it just ends up as everyone pay more rule
dev's have not acted as devs to actually code "priority" properly. they acted more like bankers letting fee's rule. but then acted like bankers by trying to get everyone to pay a fee no matter how happy they are about waiting

yes you can just pay less manually.. but the old priority structure and many methods of coding a new priority structure have been avoided. and its just a bidding war

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December 02, 2016, 08:46:32 AM
 #8

Paying the highest possible fees would surely fasten up your transaction but same as member mentioned above it doesnt even guarantee you on which block you are included but  its still an advantage though if you are on a hurry then putting high fee would be recommended but if youre not in a hurry better to use up free or small fees.The advantage of high fees which really prioritize your transactions.

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December 02, 2016, 09:00:32 AM
 #9

You should only pay normal fees not very high because it doesn't guarantee that your transaction will get faster included in the block, pay normal but not very high.
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December 02, 2016, 09:05:28 AM
Last edit: December 02, 2016, 09:17:17 AM by franky1
 #10

You should only pay normal fees not very high because it doesn't guarantee that your transaction will get faster included in the block, pay normal but not very high.

lol
if everyone pays the normal fee then its impossible to know who is happy to wait and who is desperate to get on.

dev's need to act like devs and less like bankers and make some actual code that sorts our priority rather than an empty unpredictable fee war

put it this way. imagine there are only ~2500 seats on a train.. 5000 passengers pay "normal" 15cents a ticket.
only 2500 get on the train. and 2500 left waiting at the platform for the next train in ~10 minutes.

no one knows which of the 2500 of 5000 get on, because they all paid the same.. its a lottery.

a fee estimator and everyone paying the same amount or those wanting priority all paying a 1cent extra also does not show real priority. especially at the next block where everyone is paying 1cent more making so those paying more at block 1 are then mixed with "average" people of block2 meaning the lottery of randomness begins again

but imagine there was a flag that said "1.life or death need it now, 2.need it now but not life or death. 3.soonish please 4. i dont care"

then 1250(1) and 1250(2) get in.. and (3)(4) are waiting.
without a priority flag.. everyone paying 16cents is treated the same. even if they were the ones paying 16 cents when the average was 15cents previous block

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December 02, 2016, 09:09:11 AM
 #11

You should only pay normal fees not very high because it doesn't guarantee that your transaction will get faster included in the block, pay normal but not very high.

lol
if everyone pays the normal fee then its impossible to know who is happy to wait and who is desperate to get on.

dev's need to act like devs and less like bankers and make some actual code that sorts our priority rather than an empty unpredictable fee war

If i pay 0.001 or 0.005 transaction fees then there is no difference that the transaction will get included in the first next block, i usually pay normal fees and it get included in the first few blocks if not in the first.
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December 02, 2016, 09:20:29 AM
 #12

If i pay 0.001 or 0.005 transaction fees then there is no difference that the transaction will get included in the first next block, i usually pay normal fees and it get included in the first few blocks if not in the first.

but ur also paying 70cents $3.50.. which then starts ramping up the average estimator.

all im saying is fee alone is not enough there needs to be a priority flag too. otherwise its just a lottery and auction

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Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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December 02, 2016, 09:33:16 AM
 #13

Yes transactions without a fee may get confirmed but there is no guarantee. With the recommended fee the transaction will get confirmed for sure so to prevent non-confirmation you pay fee also it helps the miner  Wink
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December 02, 2016, 09:39:24 AM
 #14

there are no guarantee's.

put it this way. imagine there are only ~2500 seats on a train.. 5000 passengers pay 15cents a ticket.
only 2500 get on the train. and 2500 left waiting at the platform for the next train in ~10 minutes.

however another 5000 people walk onto the platform. see how crowded it is so they pay 16cents.
only 2500 paying 16cents get on the next train. leaving 2500@15cents and 2500 at@16cents on the platform

however another 5000 people walk onto the platform. see how crowded it is so they pay 17cents.
only 2500 paying 17cents get on the next train. leaving 2500@15cents, 2500 at@16cents and 2500 at@17cents on the platform

however another 5000 people walk onto the platform. see how crowded it is so they pay 18cents.
only 2500 paying 18cents get on the next train. leaving 2500@15cents, 2500 at@16cents, 2500 at@17cents and 2500 at@18cents on the platform

paying 15cents which is top rate at train one does not give you any 'first in first on' privileged priority due to when they got on the platform or even asked "urgent need step forward, dont mind waiting step back".

its an auction.. highest payer wins a seat.
the issue is that people are all seeing these 'recommended fee's' and 'estimated fee's and they are then shooting themselves in the foot.
everyone ends up paying more than the last,

if everyone is forced to pay xxcents(many web wallets).. then some people that didnt mind waiting get on, while some that need to get on may not. because priority is not recognised in anyway. it just ends up as everyone pay more rule
dev's have not acted as devs to actually code "priority" properly. they acted more like bankers letting fee's rule. but then acted like bankers by trying to get everyone to pay a fee no matter how happy they are about waiting

yes you can just pay less manually.. but the old priority structure and many methods of coding a new priority structure have been avoided. and its just a bidding war

So it's a first large fees comes first serve priority, how about the free fee transactions that is going along to some other bitcoin addresses that really pay a fees, so it's like a lottery that only base on luck.



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Rainbot
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December 02, 2016, 09:40:40 AM
 #15

It seems that even you pay fees when transacting or sending through blockchain with bitcoin, you still have to wait for a mean time or maybe a long period of time, but there is a free of charge in sending bitcoin and when you look at the blockchain you ride along with another sender/hash that is paying a fee, is it unfair or there is a logically explanation behind it?.
You can have better understanding regarding recommended fee or suitable fee from here https://bitcoinfees.21.co/

Quote
The fastest and cheapest transaction fee is currently 110 satoshis/byte, shown in green at the top.
So you can see 110 satoshi/byte fee can insure your transaction will be included/confirmed within next block but this may take 0-40 minute because not always block will be mined in 10 minute difference, 10 minute is average time between two blocks.

Transaction without fee/ 0 satoshi in fee are unlikely to get any confirmation.
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December 02, 2016, 12:35:04 PM
Last edit: December 02, 2016, 12:47:03 PM by hifzi
 #16

can some one explain about this  Sad
https://blockchain.info/tx/d490db9ff46822db8245540bf961058af2174650c7256cf95e9c33ab9a240669

i sent some BTC with high fee
but still not confirmed aven after 12 hours?

edit : now get 1 confirmation thanks

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December 02, 2016, 12:53:16 PM
 #17

dev's need to act like devs and less like bankers and make some actual code that sorts our priority rather than an empty unpredictable fee war
Whatever priority policy devs implement, miners can change it. A miner is free to include any valid txes, the network will happily accept their blocks.
For example, if the same company runs a pool and an exchange, the pool will likely be including txes to/from the exchange, regardless of fee, while some other regular pool will likely be using 'maximum greed' policy.

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December 02, 2016, 12:58:33 PM
 #18


Nothing is a problem without a way out. So this is something of a problem that should not be raised or feared. Because this is purely due to the level of difficulty of mines which caused the confirmation of every transaction there that long. You don't have to think about or wear a high fee, therefore only give temporary effects and sometimes confirmation level not as you think. the most important thing is doing something good in the bitcoin then you will benefit
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December 02, 2016, 02:57:39 PM
 #19

This is also comes in my mind on how to fasten the transactions
of payment in bitcoin. As far as I know, it comes with
the block though we could not guarantee it will be included
in the next transactions.
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December 02, 2016, 02:59:25 PM
 #20

Using higher fees does not guarantee next block inclusion of your transaction.

If you use the recommended fee, you are doing probably the best you can to get it included the fastest as possible.

Unfortunately, sometimes to backlog increases due to spam transactions or slow block finds which may slow down when your transaction gets confirmed.
It doesn't?
I have always thought that it does guarantee it to be sent faster. Then why even put a higher than needed recommended fee in the first place?
I did last night and 24 hours later it still has not had one full confirmation yet on the send.
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