Mempool Observer Topic

[franky1]

     

• fastestFee: 13 sat/vB
• halfHourFee: 13 sat/vB
• hourFee: 13 sat/vB
• economyFee: 2 sat/vB
• minimumFee: 1 sat/vB

fees look appropriate again and looking at value "spending" ranges (not fee's) it appears people are starting to move value again

unlike the situation a value range for the previous month

"value range" charts on jan 15th:
https://www.blockchain.com/explorer/blocks/btc/825851

compared to feb 10th
https://www.blockchain.com/explorer/blocks/btc/829767

advice for those not needing to day-trade CEX, and just want to hoard until 2025 ATH. get your coin out CEX now. you never know when the spam attacks will restart

worth noting
LN had ~5kbtc locked long term and today is down to 4.75k already. seems a few are taking advantage of cheap fee's to jump ship out of LN
good for them

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[okorieemmanuel]

     

• fastestFee: 13 sat/vB
• halfHourFee: 13 sat/vB
• hourFee: 13 sat/vB
• economyFee: 2 sat/vB
• minimumFee: 1 sat/vB

1sat/byte minimum fee is too low. I have a feeling that some miners want individuals to make more transactions now.

[stompix]

I think that you are mostly correct here, except I would describe it a little bit differently.

It's mempool data:
https://mempool.space/api/v1/fees/recommended
{"fastestFee":14,"halfHourFee":13,"hourFee":13,"economyFee":6,"minimumFee":3}
vs

High Priority. This figure is the median feerate of transactions in the first mempool block. Consider using this feerate if you want confirmation as soon as possible.
Medium Priority. This figure is the average of the median feerate of the first mempool block and the median feerate of the second mempool block.
Low Priority. This figure is the average of the Medium Priority feerate and the median feerate of the third mempool block. Consider using this feerate if you want confirmation soon but don't need it particularly quickly.
No Priority. This figure is either 2x the minimum feerate, or the Low Priority feerate (whichever is lower). Consider using this feerate if you are in no rush and don't mind if confirmation takes a while.

And yeah, you're right, the last one is the purging limit on default nodes.

[FeeBuddy]

     

• fastestFee: 15 sat/vB
• halfHourFee: 14 sat/vB
• hourFee: 13 sat/vB
• economyFee: 10 sat/vB
• minimumFee: 5 sat/vB

[FeeBuddy]

     

• fastestFee: 11 sat/vB
• halfHourFee: 11 sat/vB
• hourFee: 11 sat/vB
• economyFee: 8 sat/vB
• minimumFee: 4 sat/vB

[seolein]

based on your experience guys, do you think it is likely that we go even below 10sats/vb anytime soon (before the halving)?
need to do some consolidation

[FeeBuddy]

     

• fastestFee: 11 sat/vB
• halfHourFee: 11 sat/vB
• hourFee: 11 sat/vB
• economyFee: 6 sat/vB
• minimumFee: 3 sat/vB

[desarpenteur]

Has there ever been a BIP to give a sort of priority value to transactions as a function of the passage of time : the more time passes, the more this value increases, which would, for example, make a tx at 1 sats/vB that has been waiting for 6 months a priority compared with a tx at 20 sats/vB that has been waiting for a few minutes.

[paid2]

Has there ever been a BIP to give a sort of priority value to transactions as a function of the passage of time : the more time passes, the more this value increases, which would, for example, make a tx at 1 sats/vB that has been waiting for 6 months a priority compared with a tx at 20 sats/vB that has been waiting for a few minutes.

Wouldn't (almost) everybody use very low fee because of that? and thus, wouldn't it lead to make a heavy mempool?

[franky1]

Has there ever been a BIP to give a sort of priority value to transactions as a function of the passage of time : the more time passes, the more this value increases, which would, for example, make a tx at 1 sats/vB that has been waiting for 6 months a priority compared with a tx at 20 sats/vB that has been waiting for a few minutes.

to even become a formal BIP in cores github. idea's need to go through layers of moderated technical discussion platforms, moderated by the very same core devs that create cores roadmap. thus majority of proposals dont even get a foot in the door of even becoming a formal BIP let alone then becoming code core devs would then allow to be merged.

[desarpenteur]

Wouldn't (almost) everybody use very low fee because of that? and thus, wouldn't it lead to make a heavy mempool?

Heavy mempool is already here, and not with regular transactions but with shitcoins spamming. People who want to buy cars, coffee or gift cards are not going to wait 6 months for a transaction. I'm not optimistic about the disappearance of the BRC20, I think that this scam will remain, that nothing will be done to prevent them from causing harm by permanently obstructing the blockchain. With a system where the priority of a transaction would also be based on its creation date, the 1 sat/vB would at least have a chance of being integrated into a block, even if it takes 6 months or more. Right now, we're on the way to ensuring that tx's below 5 sats/vB recorded at the end of 2023 will never be included in a block. RBF and CPFP are not the ideal solution for everyone.

[moonie]

Today:

Fastest: 121sat/vByte; $8.43
Medium: 111sat/vByte; $7.81
Low: 101sat/vByte; $7.04
Non-priority: 12sat/vByte; $0.84
Mempool Purging: <5sat/vByte

source: mempool.space

[FeeBuddy]

     

• fastestFee: 53 sat/vB
• halfHourFee: 48 sat/vB
• hourFee: 42 sat/vB
• economyFee: 10 sat/vB
• minimumFee: 5 sat/vB

[cryptosize]

     

• fastestFee: 53 sat/vB
• halfHourFee: 48 sat/vB
• hourFee: 42 sat/vB
• economyFee: 10 sat/vB
• minimumFee: 5 sat/vB

Here we go again...

[franky1]

anyone else think that the next node release should measure fees in bumps of 1sat per 10byte(100sat/kb)
 instead of 5sat per byte(5000sat/kb) bump default, especially when entering the year of the next halving cycle/ATH year

where by if a 226byte tx was
266sat(1sat/byte) then 1356sat (6sat/byte) then 2486sat(11sat/byte) defaults
but instead were starting from
23sat(1sat/10byte) 46sat(2sat/10byte) 68sat(3sat/10byte)

[FeeBuddy]

     

• fastestFee: 16 sat/vB
• halfHourFee: 16 sat/vB
• hourFee: 16 sat/vB
• economyFee: 8 sat/vB
• minimumFee: 4 sat/vB

[FeeBuddy]

     

• fastestFee: 12 sat/vB
• halfHourFee: 12 sat/vB
• hourFee: 12 sat/vB
• economyFee: 6 sat/vB
• minimumFee: 3 sat/vB

[FeeBuddy]

     

• fastestFee: 20 sat/vB
• halfHourFee: 17 sat/vB
• hourFee: 14 sat/vB
• economyFee: 4 sat/vB
• minimumFee: 2 sat/vB

[FeeBuddy]

     

• fastestFee: 13 sat/vB
• halfHourFee: 13 sat/vB
• hourFee: 13 sat/vB
• economyFee: 8 sat/vB
• minimumFee: 4 sat/vB

[OgNasty]

Nice to see the mempool continue to come down.  It seems like whoever was clogging the chain has decided to give it up, or maybe Ordinals are finally losing a bit of interest as the Bitcoin price rises and Ordinals holders realize they're sitting on the sidelines watching their BTC get ever further out of their reach to reattain them.  I'd like to see another 40mb or so find it's way to the blockchain so that I can consolidate some inputs without having to drop too much on transaction fees and will be continuing to keep an eye on this.