Mempool Observer Topic

[franky1]

seems someone does not want the mempool purge limit to go below 21sat (min accepted 22sat)

[FeeBuddy]

     

• fastestFee: 64 sat/vB
• halfHourFee: 51 sat/vB
• hourFee: 41 sat/vB
• economyFee: 41 sat/vB
• minimumFee: 24 sat/vB

[BabyBandit]

Fee's quite low now, saw it was around 35 sat/vB a day ago or two but didn't go under 30 sat/vB at least what I noticed.
Seems to be hard to go down under 25 sat/vB "again" but at least it's getting better but also can get up very fast again so if you gonna send BTC maybe now can be a good time doing so.

[FeeBuddy]

     

• fastestFee: 34 sat/vB
• halfHourFee: 33 sat/vB
• hourFee: 32 sat/vB
• economyFee: 32 sat/vB
• minimumFee: 23 sat/vB

[joker_josue]

[/url]

What happened, for a repeated increase in the fee, and now everything is back to the way it was before?
Someone wanted to get rid of BTC, and the best way was to make a super expensive transaction? 

[bitmover]

[/url]

What happened, for a repeated increase in the fee, and now everything is back to the way it was before?
Someone wanted to get rid of BTC, and the best way was to make a super expensive transaction? 

Not one, but a few super expensive transactions

For example, this block. It has many transactions of 100+ inputs outputs.
https://mempool.space/pt/block/000000000000000000001397ca64ceaf23fb846dcd47abbc97df006fb9b7b4a3

[FeeBuddy]

     

• fastestFee: 28 sat/vB
• halfHourFee: 28 sat/vB
• hourFee: 28 sat/vB
• economyFee: 28 sat/vB
• minimumFee: 18 sat/vB

[stompix]

What happened, for a repeated increase in the fee, and now everything is back to the way it was before?
Someone wanted to get rid of BTC, and the best way was to make a super expensive transaction? 

Somebody started minting ordinals like this:
https://ordiscan.com/inscription/57015372
a ton of them:
https://ordiscan.com/address/bc1put7stra8wjckxws33vq22v9fzsmmrrdsamdeezjyq3gqte0lc22q7vsaez/activity

But unlike others they didn't go for the next block fee and out of the blue paid 5x times the average

The previous block was
Median fee   ~30 sat/vB$1.63
Next block:
Median fee   ~202 sat/vB $10.97
And as soon as those finished fees went down a ton, much like the Binance consolidation a few days ago, but that was only half a block worth of fees, but they still paid 240sat/vb.

Now corelating that with the discussion in the mining speculation topic, see how high block rewards can come out of the blue? 

And finally some good news, we're down to 350vMB till 10sat/vb, Texas wakes up and we're up 15blocks so that means 15vMB of transactions on top of normal capacity getting processed, theoretically best case scenario we might see 21~22 sat/vb for a bit on Monday morning after the weekend is gone!
 

[joker_josue]

Now corelating that with the discussion in the mining speculation topic, see how high block rewards can come out of the blue? 

But their emergence in a timely manner makes perfect sense to me. What I find strange is that this altar has been perpetuated for a long time.
But, of course, in reality everything is very unpredictable in this field.

[FeeBuddy]

     

• fastestFee: 32 sat/vB
• halfHourFee: 30 sat/vB
• hourFee: 28 sat/vB
• economyFee: 28 sat/vB
• minimumFee: 24 sat/vB

[FeeBuddy]

     

• fastestFee: 29 sat/vB
• halfHourFee: 28 sat/vB
• hourFee: 26 sat/vB
• economyFee: 26 sat/vB
• minimumFee: 20 sat/vB

[FeeBuddy]

     

• fastestFee: 26 sat/vB
• halfHourFee: 25 sat/vB
• hourFee: 25 sat/vB
• economyFee: 25 sat/vB
• minimumFee: 24 sat/vB

[FeeBuddy]

     

• fastestFee: 37 sat/vB
• halfHourFee: 35 sat/vB
• hourFee: 31 sat/vB
• economyFee: 31 sat/vB
• minimumFee: 25 sat/vB

[NotATether]

Fees have actually dipped below 30 sats/byte somehow.

Are people bored of Ordinals already?

What happened, for a repeated increase in the fee, and now everything is back to the way it was before?
Someone wanted to get rid of BTC, and the best way was to make a super expensive transaction? 

Somebody started minting ordinals like this:
https://ordiscan.com/inscription/57015372
a ton of them:
https://ordiscan.com/address/bc1put7stra8wjckxws33vq22v9fzsmmrrdsamdeezjyq3gqte0lc22q7vsaez/activity

But unlike others they didn't go for the next block fee and out of the blue paid 5x times the average

The previous block was
Median fee   ~30 sat/vB$1.63
Next block:
Median fee   ~202 sat/vB $10.97
And as soon as those finished fees went down a ton, much like the Binance consolidation a few days ago, but that was only half a block worth of fees, but they still paid 240sat/vb.

Now corelating that with the discussion in the mining speculation topic, see how high block rewards can come out of the blue? 

And finally some good news, we're down to 350vMB till 10sat/vb, Texas wakes up and we're up 15blocks so that means 15vMB of transactions on top of normal capacity getting processed, theoretically best case scenario we might see 21~22 sat/vb for a bit on Monday morning after the weekend is gone!

I'm pretty sure a lot of Ordinals exchanges do not have a robust software tooling, so they're either using a hardcoded fee or they are just using a fee that the operator has to put in.

I don't see automated software constantly overpaying 5x, 10x on fees unless its a bug. It's more like people who are (extremely) impatient.

[FeeBuddy]

     

• fastestFee: 35 sat/vB
• halfHourFee: 33 sat/vB
• hourFee: 32 sat/vB
• economyFee: 32 sat/vB
• minimumFee: 23 sat/vB

[FeeBuddy]

     

• fastestFee: 24 sat/vB
• halfHourFee: 24 sat/vB
• hourFee: 24 sat/vB
• economyFee: 24 sat/vB
• minimumFee: 22 sat/vB

[bitmover]

I'm pretty sure a lot of Ordinals exchanges do not have a robust software tooling, so they're either using a hardcoded fee or they are just using a fee that the operator has to put in.

I don't see automated software constantly overpaying 5x, 10x on fees unless its a bug. It's more like people who are (extremely) impatient.

I think we will see 1 sat vB transactions again in a few months.

There are less transactions in the mempool (used to be 250k, now about 220k) and fees are already 20~ instead of 30.

[nutildah]

I think we will see 1 sat vB transactions again in a few months.

That would be great, but I think every time fees start to approach that level, someone will say, "Oh, now's the perfect time to inscribe my series of byte-perfect CryptoDickButts."



We'll see.

[FeeBuddy]

     

• fastestFee: 24 sat/vB
• halfHourFee: 24 sat/vB
• hourFee: 24 sat/vB
• economyFee: 24 sat/vB
• minimumFee: 24 sat/vB

[NotATether]

That would be great, but I think every time fees start to approach that level, someone will say, "Oh, now's the perfect time to inscribe my series of byte-perfect CryptoDickButts."

Is that seriously a thing now?