Mempool almost empty?

[id5000]

Basic data is real and my question is genuine, but it is poorly informed.

In ##/##/202#, when someone was surprised with the high speed of an operation with BTC, was told that the mempool was almost empty and that miners use to give priority to high amounts and their inherent comissions.

Either insights or suggestions for study are welcome.

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[hd49728]

Let me give you a website to check mempool and find an answer by yourself. By doing your practice, it can benefit you in future by knowing what fee rates are good, cheap, economic to use.

https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),all,weight. There are many tabs to choose time frame and the link is with All.

Visit Fees are low, use this opportunity to Consolidate your small inputs to get notification from community members when fees are economic.

From 2018 to 2020, 2021 till early 2023, mempools are very clear and there are many times to enjoy economic fee.

Empty or not empty, you will have to wait about 10 minutes to get a first confirmation because it is an average block time of Bitcoin blocks.

[Aanuoluwatofunmi]

Base on how I've studied the mempool recently, the transaction fee is lower than before and when you even take the lowest priority which is about 4sat/vbyte is is very small amount, it takes nothing more than 5 minutes to get confirmed, despite you might have received 25 blocks before confirmation, yet i think the mempool is less congested these days and the fee are more lower than before, when you also choose the highest priority, the difference in transaction fee is not much to get your transactions confirmed as long as the mempool remain free.

[Zaguru12]

If your question is about the speed of how transactions are getting confirmed with the corresponding low or empty mempool then it is base on the fact that the ordinal inscriptions that were congesting the mempool are been dropped or we can also say people are not making more transactions as low transactions can also cause it.

Concerning the speed, the default time to get a transaction to be confirmed is 10 minutes although it varies. And as you have rightly said the miner’s prioritizes transactions base on fee rate so the f you wish to get your transaction into the next block then use the higher fees estimated my those links shared above.

it takes nothing more than 5 minutes to get confirmed, despite you might have received 25 blocks before confirmation,

This is not actually a standard, the default is 10 minutes which is adjusted by the difficulty every 2016 blocks base on the average time takes to get the target value by miners in the 2015 blocks

[ABCbits]

Mempool almost empty?

Looking at https://jochen-hoenicke.de/queue/ and https://mempool.space/, i wouldn't say it's almost empty. Although TX fee rate for fast confirmation definitely has significantly reduced compared with condition few months ago.

and that miners use to give priority to high amounts and their inherent comissions.

That's true, to be more specific prioritize transaction with highest TX fee rate first.

[shield132]

Basic data is real and my question is genuine, but it is poorly informed.

In ##/##/202#, when someone was surprised with the high speed of an operation with BTC, was told that the mempool was almost empty and that miners use to give priority to high amounts and their inherent comissions.

Either insights or suggestions for study are welcome.

I don't understand what you want to ask. Mempool is not empty at the moment but it's not full either. I don't now if there is a website where you can see how empty or full mempool is but you can view a good statistics on Blockchair.com.
At the moment you can see that you need to pay 6 satoshi/byte to get your transaction confirmed in next black. This indicates that mempool is not full and you can relax. When transaction fee is 1 satoshi/byte, it's a clear indicator that mempool is really empty. When fee is 20 satoshi or 100-200 satoshi, this indicates that mempool is full.

[AprilioMP]

I add from the blockhair data with the chart that the BTC transaction fee per transaction is quite low even though the Bitcoin price has been relatively high since September.

Pay attention and compare the two charts below to add to what is already in the post above.

https://blockchair.com/bitcoin/charts/average-transaction-fee


https://www.blockchain.com/explorer/charts/fees-usd-per-transaction

Lowest priority mempool 5 sat/vB [approx. $0.24]. Medium 7 sat/vB [$0.34] and High Priority 9 sat/vB [$0.43].


source: https://mempool.space/

*Note: Transaction fees are a priority as I write this.

[Charles-Tim]

Empty or not empty, you will have to wait about 10 minutes to get a first confirmation because it is an average block time of Bitcoin blocks.

A block can be mined in less than 10 minutes and it may take longer than 10 minutes, although 10 minutes on average. You can see a block that is mined just less than 2, 3, 4...9 minutes after the last block mined and it might surpass 10 minutes at times.

Another thing is that if the next block is mined 8 minutes ago, and you make transaction with higher fee that can make the transaction to be confirmed in the next block, if another block will be mined in the next 1 or 2 minutes, that means your transaction does not take more than 1 or 2 minutes to have 1 confirmation as it is included in the next block.

[hosseinimr93]

I don't now if there is a website where you can see how empty or full mempool is but you can view a good statistics on Blockchair.com.

We have Jochen-hoenicke website for checking the mempool state. The tool was suggested above your reply.

When transaction fee is 1 satoshi/byte, it's a clear indicator that mempool is really empty. When fee is 20 satoshi or 100-200 satoshi, this indicates that mempool is full.

This is not accurate.

Currently, you can get fast confirmation with the fee rate of only 2-3 sat/vbyte, but the mempool of any node with default setting is full and that's why they purge any transaction with the fee rate of less than 1.36 sat/vbyte.


mempool.space

[pooya87]

In ##/##/202#, when someone was surprised with the high speed of an operation with BTC,

What does that even mean?
At any time and any level of mempool spam/congestion, if you pay a high enough fee that your transaction is considered "high priority", it will be confirmed in the next block which can be in a couple of seconds if you get lucky.
That doesn't say anything about whether the mempool is empty or not.

was told that the mempool was almost empty and that miners use to give priority to high amounts and their inherent comissions.

The common word used is "fee" not commission. And the transition miners choose to include in the block depends on the fee and has absolutely nothing to do with the amount it is transferring.

[Despairo]

Yeah currently you can use 2 sat/vbyte and your transactions might be confirmed after 2 hours or more, then what?

I'm not really sure what you're trying to say or ask here, but you can use this situation to consolidate your inputs (if you have many UTXO/frequently receiving Bitcoins), usually mempool isn't congested during weekend.

[Don Pedro Dinero]

Yeah currently you can use 2 sat/vbyte and your transactions might be confirmed after 2 hours or more, then what?

I'm not really sure what you're trying to say or ask here, but you can use this situation to consolidate your inputs (if you have many UTXO/frequently receiving Bitcoins), usually mempool isn't congested during weekend.

Yes, we seem to be back to normal after the long period we had with ordinals spamming in the mempool. I have taken advantage of the last few weekends to send cheap 1sat/vByte-plus transactions, like 1.6sat/vByte and so on, which did not take too long to be confirmed. . We'll have to see if the next bull market will bring them back up, which I think is most likely.

[AHOYBRAUSE]

Let me give you a website to check mempool and find an answer by yourself. By doing your practice, it can benefit you in future by knowing what fee rates are good, cheap, economic to use.

https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),all,weight. There are many tabs to choose time frame and the link is with All.

I always use jochen hoenicke as well to check the pool and adjust my fee accordingly. It's just the most reliable site to plan your transaction in my opinion.

It's time for the mempool to finally recover. 2 months ago it was so full with over 500-600k unconfirmed transactions, that's no fun. At least the fee was never higher than 20-30sat/b , even when it was super full. Unlike some years ago when you had to spend like 20-30$ to get a confirmation. 

[Kemarit]

Yeah currently you can use 2 sat/vbyte and your transactions might be confirmed after 2 hours or more, then what?

I'm not really sure what you're trying to say or ask here, but you can use this situation to consolidate your inputs (if you have many UTXO/frequently receiving Bitcoins), usually mempool isn't congested during weekend.

Yes, we seem to be back to normal after the long period we had with ordinals spamming in the mempool. I have taken advantage of the last few weekends to send cheap 1sat/vByte-plus transactions, like 1.6sat/vByte and so on, which did not take too long to be confirmed. . We'll have to see if the next bull market will bring them back up, which I think is most likely.

Might be a different story in the bull run, but we will see, currently everything has settled down. And if I remember correctly, a few months back we were caught by the big hype of BRC-20 inscriptions, causing the fees to spike. But we all know that this kind of hype won't do damage to Bitcoin's network in the long run. We give them some time and when finally the hype goes down, the fees are back to normal and we can all send at least from 1 - sat/vByte being confirmed without any delays.

But as I have said, it could be different when the bull run arrives as there could be a lot of transactions and everyone wanted to go first in the line and might increased their fees to get confirmations.

[Eternad]

But as I have said, it could be different when the bull run arrives as there could be a lot of transactions and everyone wanted to go first in the line and might increased their fees to get confirmations.

I doubt that we will experience heavy volume of transactions during bullrun since no one is selling that time but rather retail is buying more Bitcoin and hold. The only way the network will be flooded again if there is some kind of shit happened on BRC20 that cause to fluctuations of dust transactions but regular transactions from regular holder will never flood that much the mempool.

Fees might increase but because Bitcoin fiat value is increasing and not due to the increase volume. Since sending Bitcoin on exchange is a one time transaction and doesn’t need multiple transactions that will cause huge volume of tx.

[Hispo]

Let me give you a website to check mempool and find an answer by yourself. By doing your practice, it can benefit you in future by knowing what fee rates are good, cheap, economic to use.

https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),all,weight. There are many tabs to choose time frame and the link is with All.

I always use jochen hoenicke as well to check the pool and adjust my fee accordingly. It's just the most reliable site to plan your transaction in my opinion.

It's time for the mempool to finally recover. 2 months ago it was so full with over 500-600k unconfirmed transactions, that's no fun. At least the fee was never higher than 20-30sat/b , even when it was super full. Unlike some years ago when you had to spend like 20-30$ to get a confirmation. 

That webpage is literally a money-saver, in my opinion.I have learnt through time that many of commercial wallets put there usually overestimate the fee so people will get their transaction passed through "faster" but in reality one could even pay less and get the transaction confirmed in the same block.
I have personally talked about Trezor team about their software to estimate the best fee to be paid by their users and how I was being suggested a 14 sat/b fee but thanks to Joe hoe I could get my transacción through for 2-3 sat/b.
It seems what most developers do is to get an average maximum, medium and minimum transaction for a fixed period of time and offer it as a reference to their users.

[OcTradism]

Unlike some years ago when you had to spend like 20-30$ to get a confirmation. 

Unlike some years ago, I guess you talked about 2017 with Bitcoin Cash and Roger Ver team tried to say their altcoin is a real Bitcoin. Some years later, they seriously failed and I can say they will never succeed.

There are more shit Bitcoin fork altcoins after Bitcoin Cash like Bitcoin SV, a most famous after Bitcoin Cash but they are all shit altcoins.

Exploring Bitcoin forks.
How many Bitcoin forks are there?

[Bureau]

I doubt that we will experience heavy volume of transactions during bullrun since no one is selling that time but rather retail is buying more Bitcoin and hold. The only way the network will be flooded again if there is some kind of shit happened on BRC20 that cause to fluctuations of dust transactions but regular transactions from regular holder will never flood that much the mempool.

Fees might increase but because Bitcoin fiat value is increasing and not due to the increase volume. Since sending Bitcoin on exchange is a one time transaction and doesn’t need multiple transactions that will cause huge volume of tx.

BRC20 is one of the biggest issue with transaction fees sometime hitting 20 Satoshi in past two days. The fluctuations is fee is very high due to these morons. Miners do give priority to high fee transaction which is understandable. It is not that easy to predict what will happen when the next Bull run starts but it is incorrect to say that only the USD value of transaction fee increase. The amount of Satoshi you spend per transaction does increase when their is congestion.

[Z-tight]

Base on how I've studied the mempool recently, the transaction fee is lower than before and when you even take the lowest priority which is about 4sat/vbyte is is very small amount,

4 sat/vbyte isn't the lowest fee rate you can attach to your tx, you can even use a fee rate as low as 1 sat/vbyte, though right now and for sometime now, any fee rate lower than 1.47 sat/vbyte is a purging fee rate and most nodes would purge your tx out of their mempool if you use such a low fee rate.

when you also choose the highest priority, the difference in transaction fee is not much to get your transactions confirmed as long as the mempool remain free.

The exact fee you will pay doesn't only depend on how congested the network is, but also on how many inputs and outputs you have, so you cannot conclude what the tx fee would be without taking into consideration how many imputs and outputs you have.

I don't now if there is a website where you can see how empty or full mempool is but you can view a good statistics on Blockchair.com.

You can see that in ^[1] and ^[2].

[1] https://mempool.space/
[2] https://jochen-hoenicke.de/queue/#BTC,24h,weight

[Yamane_Keto]

Every few weeks, the same question is repeated in a different form, either astonishment as to why Bitcoin transaction fees are high or astonishment as to why the mempool is empty. In both cases, it is an opportunity for you to reduce fees by reducing the number of entries and thus lower fees, especially with bc1 withdrawal addresses.
Does anyone know of any service that gives email notifications when mempool is empty or any API that integrates with mempool.space, that would be nice and easier to reduce my average TX fees.