Are you using low fees?

[btcney]

Sometimes when I withdraw BTC to my wallet, I set really low fees like 50-70 satoshi per byte and wait for weeks, because I'm not going to spend those coins in the near future anyway. I think it's a good way to save a bit of money, because if you look back, you might realize that your fees have added up to a big amount in USD value, while it wasn't always necessary to get those coins confirmed asap.
So, do you use low fees, or always want to get confirmation in a next few blocks?

It's not safe to use low fees anymore. I used to be able to send transactions with 0 fees assuming that my btc amount is big and get it confirmed within the week but now it's not even a matter of time anymore - if you out low fees in your transaction it might not confirm at all as the backlog of unconfirmed transactions builds up.

It's might be a good idea to do it if you're trying to restrain yourself from doing a certain activity but saving a few thousand satoshi per transaction doesn't make sense to me.

[swogerino]

I don't think that using low fees is possible at this time. If you have a look at the technical support discussion board you will see that board over populated with "transaction stuck" or "transaction pending" and all these threads have something in common, low fees. Different wallets have taken their precautionary measures for this, for example electrum in latest versions has added a Fee slider where you can set it to the far right and have your transaction confirmed within the next block or 2.

[megynacuna]

My web wallet is charging me about 1.8$ per transaction but it confirms within an hour though, some times less than an hour and this is huge if you're sending smaller payments so I will advice people to use Bitcoin torvhigher transactionscat least until a solution is applied to the current issues.

[mornabo]

you need to do some analyzing on the mempool sometimes. i have had some 100 satoshi/byte fee transactions in the past few days which have been confirmed in less than 5 minutes!
as i have said multiple times, the big number you see in the mempool (60K, 90K) are mostly spam attack not real transactions which means most of them have pretty low fees.

Wow 5 minutes it is a very fast time for the confirmation time in the moment? Even I myself use a fee 30k satoshi. Sometimes it takes hours to get one confirmation lol

[mantra]

With the higher bitcoin price, the dollar we pay for the transaction fee will increase as well, even though the actual amount of bitcoin we pay for the transaction fee is fixed from the first. To be honest, this is a problem when the amount of dollars we spend on transaction fees suddenly rises as the price of bitcoin increases. I hope there will be a solution for some online wallet and exchange wallet want to lower transaction fee

[cotton ball]

Daily traders rarely check the mempool condition, they only do transactions in the market and see nothing but trading graphics profits and losses, are very good conditions to monitor but we cannot control it because it has the nature of mass transactions. I dealt with it casually, I mean dividing the transaction into 2 priorities: regular cost with small amounts, and special costs with huge amount (2x)

[mindrust]

I always use 30 satoshi per byte and i'm letting Jihan BU to pay the rest on my behalf.   Viabtc's free service does the job very well.

Paying >200satoshi/byte started to hurt me very badly. I have to move my coins from one address to another from time to time because those small incomes which i collect from here and there create many inputs in time and i don't want to look at a 100$ fee in some day.

The service is working. But quite a long queue.

I guess some of you guys still don't know how to abuse viabtc. Well i'll tell you:

Viabtc has 100 free slots for every hour. All you gotta do is wait for hh:00:00 and submit your txid right away. So you'll be accepted in the next block. No captcha solving, no waiting. Here you go.

[Amph]

I always use 30 satoshi per byte and i'm letting Jihan BU to pay the rest on my behalf.   Viabtc's free service does the job very well.

Paying >200satoshi/byte started to hurt me very badly. I have to move my coins from one address to another from time to time because those small incomes which i collect from here and there create many inputs in time and i don't want to look at a 100$ fee in some day.

The service is working. But quite a long queue.

I guess some of you guys still don't know how to abuse viabtc. Well i'll tell you:

Viabtc has 100 free slots for every hour. All you gotta do is wait for hh:00:00 and submit your txid right away. So you'll be accepted in the next block. No captcha solving, no waiting. Here you go.

not that simple, i guess someone is runnign a both there that solve captcha(there are captcha to solve) and can insert transaction faster than you

or those chinese at 2captcha are solving captcha for soemone that want his TX confirmed faster at low cost

they should really add another transaction accelerator, or increase the limit, if they have a deals with the miners, would be good for both party

[Schuyler]

I just sent a 189-bytes transaction and paid a little less than 78 sats per byte. It confirmed about an hour after I made the transaction. That only cost me about half a dollar, instead of paying a little less than $2 had I chose to make the confirmation faster. This is what I do in times that I really don't need to hurry and the additional savings on the transaction fees could prove to make a difference in the long run.

[culuuton]

My web wallet is charging me about 1.8$ per transaction but it confirms within an hour though, some times less than an hour and this is huge if you're sending smaller payments so I will advice people to use Bitcoin torvhigher transactionscat least until a solution is applied to the current issues.

What web wallet you using? They are doing a good job of ensuring your transaction confirms in a reasonable time.

[mrfreezeh]

I still like using Online Wallet, trusted services like Coinbase & XAPO, their services are good, have high quality security, easy too use, nice U.I, and Almost transaction I don't need to care about fees

[Dudeperfect]

Yes, I mostly go with the average fees but still since last few weeks I am experiencing lesser confirmation time (I am not sure how much of the portion from exchange fees is allocated for the transaction fees). I use Blockchain web wallet and they usually put dynamic fees along with the transaction according the the current network load. Thus, I never faced any unconfirmed transaction issue.

[ASHLIUSZ]

For transaction between two wallet address I used to go with the transaction fee that's suggested by the wallet itself. Other than that during the time of gambling on live events used to place an increased transaction fee for faster confirmation as the odds used to vary with respect to time based on the game scenario.

[jmigdlc1199]

Except for no-need to urgently payments, I send with them with at least 200/s when is congested and normally 0.0002 or so when the network is normal.. it's not bad when you don't need the coins urgently "and can easily rebroadcast them if they expire" however when you want a confirmation soon a decent fee is a must.

[tonyuser]

well when it comes to management of a wallet to do a transaction you prob do a fee of even 10000 sats to fee in BTC for most wallets even some do 16000 and its very regular to take just 30 mins to block find and transact but lower fees will take more time and very low fees like you saw or use of the 100 sats can get you to take like 3 to 2 days no? i mean depends on your need of the other side of the trasanction but it can become like a bank transaction in time if 100 sats only used and only if you can control that like multibit hd wallet but i do not advise too much low fees even less than 10000 satoshis for now.  i could see its your point over 5 years from now if btc goes really up and 10000 sats can become like 3 $ or soo yes that part can be exspensive to use the 30 mins transactions you are very pretininent in question but only for like 6 years from now ... for now i advise to use 16000 satoshis fees or 10000 satoshis fees for amounts of 50$ transactions ... in my humble newbie opinion

[TastyChillySauce00]

My web wallet is charging me about 1.8$ per transaction but it confirms within an hour though, some times less than an hour and this is huge if you're sending smaller payments so I will advice people to use Bitcoin torvhigher transactionscat least until a solution is applied to the current issues.

With the current rate of bitcoin, 1.8$ supposedly to be 0.00073 while the average fee needed for a transaction to be confirmed within the next 3 blocks is 0.00088140 (from https://bitcoinfees.21.co/). No wonder why it's still taking an hour for just a confirmation. Even my transaction which I made a day ago uses 500 sat/byte as a fee and still unconfirmed within 2 hours.
If you want to make a transaction, always be sure to check the current recommendation on that given site above, otherwise your transaction will either stuck or have too much fee(not wrong btw).
The scalability issue seems will not be solved very soon, the only way is to use the recommendation fee as your advice.

[dillpicklechips]

Yes, I mostly go with the average fees but still since last few weeks I am experiencing lesser confirmation time (I am not sure how much of the portion from exchange fees is allocated for the transaction fees). I use Blockchain web wallet and they usually put dynamic fees along with the transaction according the the current network load. Thus, I never faced any unconfirmed transaction issue.

It's really up to you if you really need it or it can wait. I use lowest possible fee in transferring amount that I will not use as soon as possible while if the amount that I send is have something to be used which is important and requires immediate use as soon as possible then I will place high fee and will not do microtransactions as I can since it will really eat up your money.

[Slark]

To be honest. I just stopped using bitcoin for my daily purchases when I learned that scaling resolution is planned to take place in Summer.
I can wait for that, hopefully it will bring us much lower fees and speed whole network up.
Normally when I send BTC I try to include 'correct' tx  fee. It is frustrating to wait days for my transaction to confirm.

[Lalafell]

I still like using Online Wallet, trusted services like Coinbase & XAPO, their services are good, have high quality security, easy too use, nice U.I, and Almost transaction I don't need to care about fees

I much prefer on low fees however, it is much better to have a higher fees as long as you can assure your wallet is safe rather than the wallet that has a low fees but the security is not that good. I always use online and trusted wallet to assure my money is in the good hand.

[Viviyang]

I use low fees in those cases when I don't need the bitcoins urgently and can wait for days to reach my wallet.

I still like using Online Wallet, trusted services like Coinbase & XAPO, their services are good, have high quality security, easy too use, nice U.I, and Almost transaction I don't need to care about fees

I much prefer on low fees however, it is much better to have a higher fees as long as you can assure your wallet is safe rather than the wallet that has a low fees but the security is not that good. I always use online and trusted wallet to assure my money is in the good hand.

We should never use online wallets, as the chances of them getting hacked are pretty much high and you will be left with nothing if they get hacked.