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Author Topic: Recommend BTC transfer fee  (Read 1592 times)
Mike Mayor
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May 11, 2017, 09:19:30 PM
 #1

Lately the blockchain is very cool congested. Let us make a list of low medium and high priority fees for BTC.
Lowest being the very lowest fee just above failure. The highest being the most you need at which point adding more makes little difference.

240 Satoshi/byte works well so far what figures are the rest of you seeing ?

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May 11, 2017, 09:22:03 PM
 #2

According to https://bitcoinfees.21.co/, it's 280 satoshi/byte.
If you don't mind when the transaction confirms, you can probably go down to about 160satoshi/byte to have it confirmed within about 12 hours.

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May 11, 2017, 09:30:42 PM
 #3

I paid a fee of just over 162 sats/byte @ 17:54:45 today, there were ~150k unconfirmed txs at the time and it still confirmed in 11 minutes.


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May 11, 2017, 11:01:20 PM
 #4

According to https://bitcoinfees.21.co/, it's 280 satoshi/byte.
If you don't mind when the transaction confirms, you can probably go down to about 160satoshi/byte to have it confirmed within about 12 hours.

I didn't know this website, will add it to my Bitcoin bookmarks, thanks!
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May 11, 2017, 11:05:47 PM
 #5

Lately the blockchain is very cool congested. Let us make a list of low medium and high priority fees for BTC.
Lowest being the very lowest fee just above failure. The highest being the most you need at which point adding more makes little difference.

240 Satoshi/byte works well so far what figures are the rest of you seeing ?
It does. To I usually send my transactions with around 150-190 satoshi/byte to save a little fee and do not risk it being stuck. Using an accelerator also helps to get it confirmed soon.

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May 12, 2017, 06:47:10 AM
 #6

I pay a just a bit more than the recommended fee through Electrum wallet, I let the slider of the fee to the far right and yesterday I paid 328.33 satoshi/byte for sending about 0.10 btc. The transaction confirmed within 5 minutes. When you keep the slider fee to the far right in Electrum it will include a transaction fee that will put your transaction in the next mined block. Works really well for me this way although fees are higher than the recommended.
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May 12, 2017, 09:53:44 AM
 #7

In your opinion is normal to pay 0.0007 for a small transaction? It happened to me and I didn't like it, too high imho
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May 12, 2017, 11:35:28 AM
 #8

will the transfer fee rise?

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May 12, 2017, 11:56:56 AM
 #9

In your opinion is normal to pay 0.0007 for a small transaction? It happened to me and I didn't like it, too high imho

if its too high for you, you can try sending small amount of money using western union and compare it to how much you are paying in bitcoin and how fast it is. alternatively, you can still pay lower amount of transaction fees, tho your confirmation will take some time to get confirmed


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Mike Mayor
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May 12, 2017, 02:42:54 PM
 #10

According to https://bitcoinfees.21.co/, it's 280 satoshi/byte.
If you don't mind when the transaction confirms, you can probably go down to about 160satoshi/byte to have it confirmed within about 12 hours.

Ok thank you this is the most helpful reply. So 160 min maybe 140 and 200 or so medium.

I pay a just a bit more than the recommended fee through Electrum wallet, I let the slider of the fee to the far right and yesterday I paid 328.33 satoshi/byte for sending about 0.10 btc. The transaction confirmed within 5 minutes. When you keep the slider fee to the far right in Electrum it will include a transaction fee that will put your transaction in the next mined block. Works really well for me this way although fees are higher than the recommended.

So we can say 300 max ? Ok good . My transactions just got cancelled but now I know how much to out. Although I was using indie wallet set to medium. I have set it to high now.

I paid a fee of just over 162 sats/byte @ 17:54:45 today, there were ~150k unconfirmed txs at the time and it still confirmed in 11 minutes.



That's pretty good. The one sent to me was 140 and took just over an hour. Thanks for the reply.

In your opinion is normal to pay 0.0007 for a small transaction? It happened to me and I didn't like it, too high imho

How small of a transaction ? It's not really worth making small ones anymore.

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May 13, 2017, 08:57:10 AM
 #11

According to https://bitcoinfees.21.co/, it's 280 satoshi/byte.
If you don't mind when the transaction confirms, you can probably go down to about 160satoshi/byte to have it confirmed within about 12 hours.

When I spent my bitcoins if the time is not primarily my concern and I check the above site I don't follow the recommended fees option but always I look at the second from the right column with the label 'delay' and I choose the last one before the interval ends with the word 'infinity', e.g '5 - inf'. If you check the explanations you will see that is a 90% confidence internal based in the last 3 hours of blockchain data. Till now all of my transactions have been confirmed in a reasonable time and fees about 2/3 of the recommended ones.
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May 13, 2017, 09:45:44 AM
 #12

I have less frequent high valued transactions so I usually go for the fees recommended by my wallet service provider (yes, I am using blockchain.info as web wallet) and even if sometimes the fees is little bit costly than that of average fees, I pay it as I don't want my transaction to get stuck in unconfirmed transaction backlog (like everyone). However one can go with (https://bitcoinfees.21.co) to find out recommended transaction fee for the real-time network traffic.

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May 13, 2017, 10:29:32 AM
 #13

According to https://bitcoinfees.21.co/, it's 280 satoshi/byte.
If you don't mind when the transaction confirms, you can probably go down to about 160satoshi/byte to have it confirmed within about 12 hours.

Ok thank you this is the most helpful reply. So 160 min maybe 140 and 200 or so medium.

I pay a just a bit more than the recommended fee through Electrum wallet, I let the slider of the fee to the far right and yesterday I paid 328.33 satoshi/byte for sending about 0.10 btc. The transaction confirmed within 5 minutes. When you keep the slider fee to the far right in Electrum it will include a transaction fee that will put your transaction in the next mined block. Works really well for me this way although fees are higher than the recommended.

So we can say 300 max ? Ok good . My transactions just got cancelled but now I know how much to out. Although I was using indie wallet set to medium. I have set it to high now.

I paid a fee of just over 162 sats/byte @ 17:54:45 today, there were ~150k unconfirmed txs at the time and it still confirmed in 11 minutes.



That's pretty good. The one sent to me was 140 and took just over an hour. Thanks for the reply.

In your opinion is normal to pay 0.0007 for a small transaction? It happened to me and I didn't like it, too high imho

How small of a transaction ? It's not really worth making small ones anymore.
Some small transactions of mine with ~ 120 sat/B took over 16 hours to confirm, so it is possible, but not feasible for something that needs to be confirmed quick.

Side question, how is (((Bitcoin))) going to fix all these unconfirmed transactions? With bitcoin becoming more mainstream, i don't see this problem disappearing, more likely, this is going to stay if the core team doesn't take any actions..

Is segwit the solution? Or?

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May 13, 2017, 02:28:41 PM
 #14

I usually pay around 200 Satoshi/byte for normal transactions that I do not need very fast confirmation speed.

But for more urgent transactions, I usually pay more than that, and something like 300-500 Satoshi/byte works for me.

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May 13, 2017, 03:55:03 PM
 #15

I usually pay around 200 Satoshi/byte for normal transactions that I do not need very fast confirmation speed.

But for more urgent transactions, I usually pay more than that, and something like 300-500 Satoshi/byte works for me.
500 satoshi too high for me what op suggested should be ok for me. My transactions has been left unconfirmed for some days now because of this low fees issue. Am suggesting at list something around 400satoshi.


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May 13, 2017, 07:30:31 PM
 #16

what allet have less fee ?
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May 13, 2017, 10:29:57 PM
 #17

I paid a fee of just over 162 sats/byte @ 17:54:45 today, there were ~150k unconfirmed txs at the time and it still confirmed in 11 minutes.


Because its some luck factor there. U can give ANY fee that is not ridicolously low and it will confirm in 10 minutes or in 10 hours u never know.

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May 14, 2017, 12:25:49 AM
 #18


In your opinion is normal to pay 0.0007 for a small transaction? It happened to me and I didn't like it, too high imho

How small of a transaction ? It's not really worth making small ones anymore.

A couple of dollars, yeah I know but what would you suggest? Not much to do at this stage
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May 14, 2017, 01:41:19 AM
 #19

i have been paying a BTC transfer fee of 0.0004 btc and all transactions get confirmed within a 2hours window
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May 14, 2017, 03:51:31 AM
 #20


In your opinion is normal to pay 0.0007 for a small transaction? It happened to me and I didn't like it, too high imho

How small of a transaction ? It's not really worth making small ones anymore.

A couple of dollars, yeah I know but what would you suggest? Not much to do at this stage

If you can, wait until the backlog is back to normal, the fees probably will be lowered once the blocks aren't full anymore. Shouldn't take more than a few days.

what allet have less fee ?

fees depend on the network, not the wallet you use Huh

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