Electrum standard transaction fee set to 4.1 sat/byte??

[LockHowl]

I was just making a transaction like i normally do and now i'm stuck with just 4.1 sat/byte. This is going to take a ridiculous amount of time to get confirmed. Why did this happen? I tried to bump the transaction fee but it leaves me with just 4.1 sat/byte. Normally it takes me less then one hour for the transaction to benconfirmed.. please help!

I guess this is a simple issue for it to be posted here, but i'm not an expert at this stuff.

[hosseinimr93]

I was just making a transaction like i normally do and now i'm stuck with just 4.1 sat/byte. This is going to take a ridiculous amount of time to get confirmed.

According to the current state of the network , it shouldn't take a long time to be confirmed. Your transaction is now about 1 vMB from the the tip and it is expected to be confirmed soon.

Note that the transaction fee rate required for a fast confirmation depends on how busy the network is.
The more busy the network is, the more fee rate is required.

Also note that electrum allows you to set the transaction fee rate yourself.

[LockHowl]

I was just making a transaction like i normally do and now i'm stuck with just 4.1 sat/byte. This is going to take a ridiculous amount of time to get confirmed.

According to the current state of the network , it shouldn't take a long time to be confirmed. Your transaction is now about 1 vMB from the the tip and it is expected to be confirmed soon.

Note that the transaction fee rate required for a fast confirmation depends on how busy the network is.
The more busy the network is, the more fee rate is required.

Thanks, now i now why the sat/byte seemed low compared to previous transactions. I've had bitcoins being stuck for weeks in the past so that's what worried me. Thank you!

[DannyHamilton]

Here's a great resource to see what's going on with fees, confirmations, blocks, and pending transactions:

https://mempool.space/

A block was just created that included nearly ALL pending transactions with a fee of 3 sat/byte or greater (as well as a significant percentage of transactions with a fee between 2 sat/byte and 3 sat/byte).

I suspect that your transaction already has its first confirmation.  If not, it will probably do so within an hour.

[LockHowl]

Here's a great resource to see what's going on with fees, confirmations, blocks, and pending transactions:

https://mempool.space/

A block was just created that included nearly ALL pending transactions with a fee of 3 sat/byte or greater (as well as a significant percentage of transactions with a fee between 2 sat/byte and 3 sat/byte).

I suspect that your transaction already has its first confirmation.  If not, it will probably do so within an hour.

Thanks for the tip! My transaction now has 3 confirmations 

[BitMaxz]

What actually did you use for fee estimation there are 3 types of fee estimation on Electrum look




You can see static, ETA, and mempool. Static has a fixed range of 1-300sat/byte and ETA and mempool are based on fee market conditions.

I would suggest you always use ETA or Mempool for fee estimation then slide it to target 1Mb or lower size from the tip. For ETA slide it to target "within 2 blocks" or for a faster transaction slide it to target "In the next block".


Next time check that first before you make a transaction so that the transaction won't stuck on the mempool.

[bitmover]

I was just making a transaction like i normally do and now i'm stuck with just 4.1 sat/byte. This is going to take a ridiculous amount of time to get confirmed.

According to the current state of the network , it shouldn't take a long time to be confirmed. Your transaction is now about 1 vMB from the the tip and it is expected to be confirmed soon.

Note that the transaction fee rate required for a fast confirmation depends on how busy the network is.
The more busy the network is, the more fee rate is required.

Also note that electrum allows you to set the transaction fee rate yourself.

I am always amazed how bitcoin transactions can be cheap.
This guy just paid 4sat/byte, almost the minimum fee possible,  and it just got confirmed within very few blocks. Probably in less than an hour.

A borderless, permitionless, of any value, that can be sent to anyone anywhere in the world for less than 1 usd.

You should always check mempool.space before making your transaction to pay the minimum fee possible. I don't trust electrum estimator..

[sheenshane]

If you don't want your transaction didn't get stuck, always check the mempool condition and set the fee into the "Mempool" because it is estimated with the market condition which you can choose a higher required fee for the fastest transaction.  A best practice is to check always the mempool condition before asking transaction and putting at the right fee that doesn't exist for more than one hour.

However, we know that the market price was too volatile if you have been stuck because it was suddenly pumped up you can try to boost your transaction using this.

• ViaBTC
• btcnitro.com

You can use the Bitcoin transaction accelerator for free or paid.

[Quidat]

I was just making a transaction like i normally do and now i'm stuck with just 4.1 sat/byte. This is going to take a ridiculous amount of time to get confirmed. Why did this happen? I tried to bump the transaction fee but it leaves me with just 4.1 sat/byte. Normally it takes me less then one hour for the transaction to benconfirmed.. please help!

I guess this is a simple issue for it to be posted here, but i'm not an expert at this stuff.

You could always able to choose neither Mempool,Static or ETA where you can set out fees according to your preference and just checking out https://mempool.space/

then the current fees as of this moment is something between 1sat/byte - 4 sat which i dont see for it to be a problem when you do set out 4 sats per byte and it

wouldnt took that loong on getting some confirmation.Just wait up and have patience.

[SquirrelJulietGarden]

Transactions (Compilation for newbies)
Make sure to avoid wasting BTC for too high fees – step by step guide (Electrum)
Check mempool https://jochen-hoenicke.de/queue/#BTC,24h,weight
Accelerators:
Free BTC transaction accelerator!
https://pool.viabtc.com/tools/txaccelerator/

[Poker Player]

Yesterday like 3-4 hours before this thread was created I make a 1sat/byte transaction which was confirmed in the next block, even though I was suggested a much higher fee.

I just went to https://mempool.observer/, saw that there were only like 500 transactions pending and made mine.

Fees are pretty low these days. If I had to do a transaction today I would also choose just 1sat/byte, there are curently only 220 unconfirmed transactions. Many blocks get confirmed not being full. I hope this remained like this forever but I think as the price goes up, transactions and fees will as well.

Good time to consolidate small inputs also, I could not finish without quoting LoyceV's post, which made me start learning when I knew practically nothing.

[Lucius]

I am always amazed how bitcoin transactions can be cheap.
This guy just paid 4sat/byte, almost the minimum fee possible,  and it just got confirmed within very few blocks. Probably in less than an hour.

Transactions are cheap because very few people compete on who will pay the higher fee - bad news for miners who are always looking forward to extra earnings, but good news for all those who want to pay the minimum fee and get an almost instant confirmation. If you look at the following chart of unconfirmed transactions showing a period of 1 year, you can't see anything similar.

At this point, you can pay the lowest possible fee and get a confirmation in the next block.

[Lucius]

In any way, I hope your transaction will be confirmed soon... (Mine was gone within a few minutes... so the miners was rubbing their hands to cash in on my stupidity)  

Have you perhaps noticed that you are replying to a post with a date 30 July 2021, 22:19:45? How does it even occur to you to look for old threads and write nonsense like this that is not relevant at all? This is called signature spam...