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Author Topic: Where can I find what a tx id costs per byte?  (Read 428 times)
philipma1957 (OP)
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February 23, 2017, 05:14:13 PM
 #1


Okay  I did 5 transactions.  I know that  its been slow  my hot wallet is paying  100 sat/B  here is one of the five transactions.  No double spends simply too low of a fee.  So what is correct fee  now 150 sat/B?


https://blockchain.info/tx/b37e0dd21e265320320b5ff3ad77fe4ec39cdff50c9c58b892c18d8f7205f4ab


(Fee: 0.00613201 BTC - 99.71 sat/B - Size: 6150 bytes) 2017-02-23 14:38:36

I can go higher if I want to.

but  is there a link  that says  sat/B  needed to go fast.

I am not aware of one other then ones built into wallets   which  sometimes are not very accurate.



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brituspol
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February 23, 2017, 05:15:50 PM
 #2

This is what I use for the recommended tx fee estimation: https://bitcoinfees.21.co/ . Right now it appears to be 200 sats/B
philipma1957 (OP)
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February 23, 2017, 05:49:03 PM
 #3

Thanks I book marked it.  all my transactions are at 100 sats


100 sats  take 1 to 20 hours or 6 to 120 blocks

125 sats is pretty fast   10 to 60 minutes  or 1 to 6 blocks

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February 23, 2017, 07:30:58 PM
 #4

You don't need to rely on 3rd parties Smiley

Code:
$ bitcoin-cli help estimatefee
estimatefee nblocks

Estimates the approximate fee per kilobyte needed for a transaction to begin
confirmation within nblocks blocks.

Arguments:
1. nblocks     (numeric)

Result:
n              (numeric) estimated fee-per-kilobyte

A negative value is returned if not enough transactions and blocks
have been observed to make an estimate.

Example:
> bitcoin-cli estimatefee 6

Code:
$ bitcoin-cli estimatefee 3
0.00145506

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February 23, 2017, 07:44:34 PM
 #5

Thanks I book marked it.  all my transactions are at 100 sats


100 sats  take 1 to 20 hours or 6 to 120 blocks

125 sats is pretty fast   10 to 60 minutes  or 1 to 6 blocks

You only really need it at about 70% of the fee estimator as the fee esimator is an estimation for the fee you need to get it into the next block.
If you set it at 200satoshi per kilobyte then it is highly likely to get within the first three blocks released from that point.
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