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Author Topic: How to be notified about the status of the mempool  (Read 127 times)
paid2 (OP)
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March 11, 2023, 07:20:14 PM
Merited by vapourminer (1)
 #1

I have some bitcoin addresses that have a lot of incoming transactions. When I first started mining, I was receiving daily transactions of 20,000 - 30,000 satoshis, and cumulatively there are several dozen transactions per address. (begginer’s mistake)

I'm looking to consolidate this, so I won't have a problem if one day I need to sell, or send BTC from these addresses.

I can't find the answer to my question on the internet: I'm looking for a way to be warned when the mempool empties, and the fees are less expensive.
I monitor mempool.space and https://jochen-hoenicke.de/queue/#BTC,24h,weight occasionally, but is there a Telegram bot or a way to be notified when the fees are below a certain threshold?

I know that this is not really a problem, and that it is enough to check the mempool from time to time. But I'm surprised that no tool offers this to my knowledge. I think that such a tool could be useful if Ordinals continues its mess

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March 11, 2023, 08:34:27 PM
Merited by vapourminer (1)
 #2

I think LoyceV is still making this thread active: Re: [Mar 2023] Mempool empty! Use this opportunity to Consolidate your small inputs!

Just click on notify so that you can be sent notification anytime there is new post after checking the thread, or use the ninjastic telegram bot to track it.

But I will advice you to use those mempool mentioned above for it, just try and check it daily or weekly to know when the mempool is less congested. Mempool is less congested more on weekends, so you can try and be checking it during weekends.

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March 11, 2023, 09:08:15 PM
Merited by vapourminer (1), paid2 (1)
 #3

You don't need to wait, you can (depending on your wallet) create your consolidation transaction right now. My Bitcoin Core has been broadcasting a transaction with the minimum fee for a week now, and it will keep doing that until either it confirms, or I tell it to stop broadcasting.

Read my topic, and consolidate wisely. I'd take 50-ish inputs at a time, set 1 sat/vbyte (or maybe 1.1 if you feel generous). Considering you've waited for years, you can wait a bit longer.
Are those addresses old enough to hold some Forkcoins too? If so, don't bother about it before your Bitcoin is moved to another address.

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March 11, 2023, 09:17:20 PM
Merited by NeuroticFish (3), vapourminer (1), ABCbits (1), paid2 (1)
 #4

I monitor mempool.space and https://jochen-hoenicke.de/queue/#BTC,24h,weight occasionally, but is there a Telegram bot or a way to be notified when the fees are below a certain threshold?
There is CryptocurrencyAlerting website that have option for mempool notifications based on megabytes or unconfirmed transactions:
https://cryptocurrencyalerting.com/bitcoin-mempool.html

Second option is website txfees.watch, and they are using only email addresses for notification:
https://txfees.watch/

You can also use my Bitcoin Mempool Fees Extension/add-on for Firefox or Chrome browser, that will allow you to easily watch the state of mempool on small ticker icon in your browser next to address bar.
This includes information you can manually choose from mempool.space (default option), bitcoiner.live or blockchain.com.
I think it would be possible to add notification to my extensions, but I don't know how to do it Tongue
https://bitcointalk.org/index.php?topic=5312406

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March 12, 2023, 07:50:37 AM
 #5

There is CryptocurrencyAlerting website that have option for mempool notifications based on megabytes or unconfirmed transactions:
https://cryptocurrencyalerting.com/bitcoin-mempool.html

Second option is website txfees.watch, and they are using only email addresses for notification:
https://txfees.watch/

You can also use my Bitcoin Mempool Fees Extension/add-on for Firefox or Chrome browser, that will allow you to easily watch the state of mempool on small ticker icon in your browser next to address bar.
This includes information you can manually choose from mempool.space (default option), bitcoiner.live or blockchain.com.
I think it would be possible to add notification to my extensions, but I don't know how to do it Tongue
https://bitcointalk.org/index.php?topic=5312406

Thank you so much, that's exactly what I was looking for ! I will use the txfees.watch website for my future BTC ATM purchases, very nice tool !

You don't need to wait, you can (depending on your wallet) create your consolidation transaction right now. My Bitcoin Core has been broadcasting a transaction with the minimum fee for a week now, and it will keep doing that until either it confirms, or I tell it to stop broadcasting.

Read my topic, and consolidate wisely. I'd take 50-ish inputs at a time, set 1 sat/vbyte (or maybe 1.1 if you feel generous). Considering you've waited for years, you can wait a bit longer.
Are those addresses old enough to hold some Forkcoins too? If so, don't bother about it before your Bitcoin is moved to another address.

Fair enough yes, I already did the transaction wit 1 sat/vbyte as you mentionned. I hadn't even thought about the transaction waiting for a while in the mempool, but it absolutely makes sense.
About the Forkcoins, only one addresse is owning shitty BSV, I will try to swap them to BTC in the coming days or weeks. Thank you, I never checked it before and it is always very nice to find some free satoshis !



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March 12, 2023, 01:28:45 PM
 #6

There is CryptocurrencyAlerting website that have option for mempool notifications based on megabytes or unconfirmed transactions:
https://cryptocurrencyalerting.com/bitcoin-mempool.html

This website is interesting (I've just bookmarked it, thanks for that), however, it looks strange to me that the mempool size they show is 33.06 MB and Johoe page shows 167 vMB. I know it's not the same unit, but whatever I try I don't find any relationship that would work out. Is the alerting mempool showing something incorrect, or am I missing something?

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March 12, 2023, 01:36:21 PM
 #7

the mempool size they show is 33.06 MB and Johoe page shows 167 vMB.
For what it's worth: my Bitcoin Core shows 278 MB. Update: my other Bitcoin Core shows 249 MB.
I noticed Electrum has a hard time predicting the Target distance from the tip too (this started with the mempool spam).
I can't tell you why there's such a difference.

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March 13, 2023, 12:05:51 PM
Merited by vapourminer (1)
 #8

the mempool size they show is 33.06 MB and Johoe page shows 167 vMB.
For what it's worth: my Bitcoin Core shows 278 MB. Update: my other Bitcoin Core shows 249 MB.
I noticed Electrum has a hard time predicting the Target distance from the tip too (this started with the mempool spam).
I can't tell you why there's such a difference.

If you obtain number "278 MB" and "249 MB" from column "Memory usage", then you're comparing 2 different things. "Memory usage" refer to RAM usage to store deserialized unconfirmed TX while some website simply show total size of all unconfirmed transaction.

For other user, you can visit https://www.statoshi.info/d/000000020/memory-pool?orgId=1 to know the difference. Pay attention to chart "Mempool Transactions" and "Mempool Dynamic Memory Usage".

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