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Author Topic: Transaction fee down to $0.11! SegWit works!  (Read 321 times)
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February 22, 2018, 07:04:05 PM
Merited by ghost15 (1)
 #1



I knew it was coming, and it's finally here. SegWit.
I made a transaction earlier today, it took about 20 minutes to be confirmed, and the fee was a ridiculous (compared to what they were a few weeks ago) 0.000012 BTC. Just a little more than a dime.

I'm really happy to share such good news. Enjoy!

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February 22, 2018, 07:14:50 PM
 #2

Good news
I hope BTC can use to shopping Cheesy
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February 22, 2018, 07:16:15 PM
Merited by LeGaulois (1)
 #3

Post some proof, edit out some of the data that would DOX you.  Wink A lot of the BCrash supporters is going to say this is FUD

or their next best excuse, "Nobody is using Bitcoin, so the fees will be lower."

I presume that this was from a SegWit to a SegWit address...right? The MemPool is almost empty, so most of these tx's with

low fees are being confirmed in a few Blocks.  Tongue

Edit :  Ah, you added a pic.  Roll Eyes

 
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February 22, 2018, 07:20:36 PM
 #4

Post some proof, edit out some of the data that would DOX you.  Wink A lot of the BCrash supporters is going to say this is FUD
You meant Bitcoin Cash ? They are special kind of trolls living in their own imaginary world.Checking out r/btc to know more.


I presume that this was from a SegWit to a SegWit address...right? The MemPool is almost empty, so most of these tx's with
Obviously! It's good people have started to use SegWit addresses.However  mass adaption is required to get everyone used this eco-system which is only possible if services like Blockchain.info/localbitcoins etc start activating SegWit.


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February 22, 2018, 07:49:38 PM
Merited by Yaunfitda (1)
 #5

Segwit usage is still low. It is more likely that transaction volume has dropped because the crash scared a lot of people away.

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February 22, 2018, 07:51:32 PM
 #6

At first I didnt know I was using SegWit until recently.  Grin
I was so happy when I saw how much I will pay. That is way too small than I expected.
Oh!, and when I used OKex I also felt it.
At the withdrawal option the price for bitcoin transfer is like 150k satoshis and then suddenly when I paste my bitcoin SegWit address there it goes, just 50k satoshis. So happy with this.

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February 22, 2018, 07:52:46 PM
 #7

https://s18.postimg.org/gk7f3dyex/segwit.jpg

I knew it was coming, and it's finally here. SegWit.
I made a transaction earlier today, it took about 20 minutes to be confirmed, and the fee was a ridiculous (compared to what they were a few weeks ago) 0.000012 BTC. Just a little more than a dime.

I'm really happy to share such good news. Enjoy!

Cпacибo) здopoвo)
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February 22, 2018, 08:03:57 PM
 #8

If I understand correctly, it is necessary to perform certain manipulations to manually introduce SegWit into your wallet, after which it will be possible to perform transactions in bitcoins with a low commission value. This topic is written in such a way that some people can understand that now everyone can carry out transactions with such low commission fees. This is certainly good, but to implement SegWit in this case, you need to massively, so that everyone can use the low commission fees.

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February 22, 2018, 08:16:04 PM
 #9

Yeah thanks god, transaction fee isn't a problem now to prevent Bitcoin from becoming better.Only 3k unconfirmed transactions will make the confirmation time lesser.
This is actually good if you've ever wait for a confirm transaction for a month.
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February 22, 2018, 08:30:15 PM
 #10

I knew it was coming, and it's finally here. SegWit.
I made a transaction earlier today, it took about 20 minutes to be confirmed, and the fee was a ridiculous (compared to what they were a few weeks ago) 0.000012 BTC. Just a little more than a dime.

I'm really happy to share such good news. Enjoy!

FYI there's no point in blacking out the transaction hash because you showed the inputs and outputs (along with fee, size and locktime when the transaction was created). i'd remove the screenshot if i were you, but to each his own. Tongue

the core fee estimator is good enough proof for me. i've been getting transactions confirmed at 1 satoshi/byte---cheaper than default fees were before all this block size drama set off. if anyone is still using earn.com, use this instead: https://twitter.com/corefeehelper?lang=en

Segwit usage is still low. It is more likely that transaction volume has dropped because the crash scared a lot of people away.

yeah, i don't think this has to do with segwit. there's probably drastically lower activity from exchanges now. ETH fees have dropped to 1 gwei (40-50x decrease from the peak), so it's not just BTC. and google trends seems to agree.

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February 22, 2018, 08:50:52 PM
 #11

I knew it was coming, and it's finally here. SegWit.
I made a transaction earlier today, it took about 20 minutes to be confirmed, and the fee was a ridiculous (compared to what they were a few weeks ago) 0.000012 BTC. Just a little more than a dime.

I'm really happy to share such good news. Enjoy!

FYI there's no point in blacking out the transaction hash because you showed the inputs and outputs (along with fee, size and locktime when the transaction was created). i'd remove the screenshot if i were you, but to each his own. Tongue


Yes, LoL. It has remined me the famous case of the guy who once showed his paper wallet on TV and covered the private key... but not the QR code Cheesy
However in your case it's not a big deal, unless you have millions stored in those addresses and you wanted to hide it Smiley

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February 22, 2018, 09:01:20 PM
 #12

Segwit usage is still low. It is more likely that transaction volume has dropped because the crash scared a lot of people away.

This. And it looks like the network spam stopped as well. Maybe its no longer profitable or maybe they got tired of doing it. Plus I think there are exchanges that are batching their withdrawals like Coinbase that's why the mempool are not that clogged anymore.

And so the argument that the cost of bitcoin tx fees are high and very slow are out of the question now. But I'm sure that they will always find some holes to attack bitcoin again.

Quote
Which fee should I use?
The fastest and cheapest transaction fee is currently 20 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 4,520 satoshis.

https://bitcoinfees.earn.com/

Mempool statistics:

https://jochen-hoenicke.de/queue/#1,24h

 
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February 22, 2018, 09:03:08 PM
 #13

Yeah thanks god, transaction fee isn't a problem now to prevent Bitcoin from becoming better.Only 3k unconfirmed transactions will make the confirmation time lesser.
This is actually good if you've ever wait for a confirm transaction for a month.

I have never waited beyond the time it indicates but I have always provided sufficient fees with the block. Regardless this is fabulous for crypto, although it is going to kill off some alts sooner than later but that is a net positive too if you ask me.

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February 22, 2018, 09:04:45 PM
 #14

Good stuff, thanks for sharing. Would be interesting to see the cost of the fees had this been a couple of months ago when costs were at peak and well over 150k unconfirmed transactions
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February 22, 2018, 09:12:24 PM
 #15


FYI there's no point in blacking out the transaction hash because you showed the inputs and outputs (along with fee, size and locktime when the transaction was created). i'd remove the screenshot if i were you, but to each his own. Tongue


Yes, I thought of that, but I wanted to show that was real, so I had to show something. And people must imagine an old user like me has several wallets... So let's only talk about the good news. I remember I made a transaction not long ago with a $20 fee (I had to do it), so this is first page news that they're cheap again.

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February 22, 2018, 09:15:50 PM
 #16

I knew it was coming, and it's finally here. SegWit.
I made a transaction earlier today, it took about 20 minutes to be confirmed, and the fee was a ridiculous (compared to what they were a few weeks ago) 0.000012 BTC. Just a little more than a dime.

it's been quite low since early this month.
I have a few transactions that was stucked for 3 months Grin got confirmed in the first week of february.
they are all from uncompressed addresses with tx size around 3 kB and tx fee of 1 sat/B Tongue
so I think it is mostly because of low volume transactions (more HODLer less transactions) and not segwit

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February 22, 2018, 09:23:36 PM
 #17

good news, it comes just at the right time, a lot of people have migrate to other altcoin and this to avoid the big fees that bitcoin miners charge and I think that now there is no reason to deal with another currency because the bitcoin remain always the master.

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February 22, 2018, 09:23:37 PM
Merited by BitHodler (1)
 #18

Segwit usage is still low. It is more likely that transaction volume has dropped because the crash scared a lot of people away.

Because f*cking Roger Ver and bch scammers stopped network spam. With LN Bitcoin will be awesome.



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udivkx
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February 22, 2018, 09:27:20 PM
 #19

And on what wallet did you carry out this operation? Very similar to Electrum, but I'm not sure. I recently paid for a transaction of$8. That's really good news. Thank You.

LeGaulois
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February 22, 2018, 09:45:51 PM
 #20

See the mempool with about no unconfirmed bitcoin transaction. You can use a 1 sat / byte it will be confirmed in a decent time.
Go out Btrash supporters, your propaganda is almost failed, yet you give as excuse theBTC transactions number is in decline ^.^
Bitcoin is the real Bitcoin


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