New Transaction Accelerator!

[hi@spiderpool]

Hi we're Spiderpool and we just released our own Txn Accelerator

I wanted to say you are welcome but...

Do give us a try and let us know what you think! We probably have one of the lowest fees in the market currently, probably tied with Antpool.

Is this a serious statement? Okay. According to mempool.space, 10 sat/vb is a recommended fee to get your transaction included in the next block right now. As an example to test your service, I took someone else's transaction from mempool and pasted the TX id in your accelerator. The transaction's size is 8.89 KB with a fee of 9.03 sat/vb. Basically, it will be automatically confirmed in an hour or two. At the moment the transaction fee in USD is 53.10$. Your transaction accelerator asks for 2276.71 USDT to get the transaction accelerated, e.g. included by your or your partner's pool. (TX id for reference - 11db9ca4d8fe65490234bdb3745ed71377b3c7b1271f735c5f1d6d4f07f530e7)

Is your transaction accelerator really one of the cheapest? I don't find such a service beneficial. I checked another typical one input one output transaction and for a transaction that needs 1$ to get included in the next block, your accelerator asks user to pay 517.6 USDT. Here is transaction id - 6f661ff27a87234d90f0dbde2dcbc967f19521d94ee4b2bd717254e8cedb6c50

I don't understand this service and I don't think anyone ever will use it with current fees.

I'd argue that it really depends on 'why' people need the txn to be accelerated + network conditions as its use case. BTC in itself is slow, and currently this is rlly just the bare bones of our product. We're looking for ways to optimize these fee rates in the future.

As regards to the statement of one of the cheapest, I do not think it is an entirely wrong statement. We've compared ourselves to a few of the larger, more popular mining sites and found that we are indeed one of the cheapest.[Excluding free ones ofc] Not exactly too sure of any other independent txn accelerators.

[shield132]

Hi we're Spiderpool and we just released our own Txn Accelerator

I wanted to say you are welcome but...

Do give us a try and let us know what you think! We probably have one of the lowest fees in the market currently, probably tied with Antpool.

Is this a serious statement? Okay. According to mempool.space, 10 sat/vb is a recommended fee to get your transaction included in the next block right now. As an example to test your service, I took someone else's transaction from mempool and pasted the TX id in your accelerator. The transaction's size is 8.89 KB with a fee of 9.03 sat/vb. Basically, it will be automatically confirmed in an hour or two. At the moment the transaction fee in USD is 53.10$. Your transaction accelerator asks for 2276.71 USDT to get the transaction accelerated, e.g. included by your or your partner's pool. (TX id for reference - 11db9ca4d8fe65490234bdb3745ed71377b3c7b1271f735c5f1d6d4f07f530e7)

Is your transaction accelerator really one of the cheapest? I don't find such a service beneficial. I checked another typical one input one output transaction and for a transaction that needs 1$ to get included in the next block, your accelerator asks user to pay 517.6 USDT. Here is transaction id - 6f661ff27a87234d90f0dbde2dcbc967f19521d94ee4b2bd717254e8cedb6c50

I don't understand this service and I don't think anyone ever will use it with current fees.

I'd argue that it really depends on 'why' people need the txn to be accelerated + network conditions as its use case. BTC in itself is slow, and currently this is rlly just the bare bones of our product. We're looking for ways to optimize these fee rates in the future.

As regards to the statement of one of the cheapest, I do not think it is an entirely wrong statement. We've compared ourselves to a few of the larger, more popular mining sites and found that we are indeed one of the cheapest.[Excluding free ones ofc] Not exactly too sure of any other independent txn accelerators.

Okay, let's take a transaction and compare each of them.
Here is the TX ID: e73706b06711761fb80d430703c63253599b89b1247e31e8763ac6bcec939620

Let's estimate costs of different transaction accelerators:
Spiderpool - 448.12 USDT
Binance - 419.35 (original price was given in BTC - 0.00631618)
Antpool - 449.12 USDT
Mempool.space - 68.66 USD.

Only mempool.space has the best fee rate on the market. Every other accelerator wants to earn monthly salary by only accelerating a single transaction. If you offer us lower fees compared to mempool.space, your business will have customers and it will succeed. Offer 2x or 3x of what's recommended during the acceleration process, otherwise no one will pay hundreds and thousands of dollars, don't have that illusion.

[stompix]

The transaction's size is 8.89 KB with a fee of 9.03 sat/vb. Basically, it will be automatically confirmed in an hour or two. At the moment the transaction fee in USD is 53.10$. Your transaction accelerator asks for 2276.71 USDT to get the transaction accelerated, e.g. included by your or your partner's pool. (TX id for reference - 11db9ca4d8fe65490234bdb3745ed71377b3c7b1271f735c5f1d6d4f07f530e7)

No it won't  , but anyhow
F2 pool asks for :

TXID
11db9ca4d8fe65490234bdb3745ed71377b3c7b1271f735c5f1d6d4f07f530e7
Transaction Volume (Current + Previous Unconfirmed)
8888 vbytes = (8888 + 0) vbytesTotal Fees  (The USDC amount is estimated and subject to exchange rate changes.)
0.07110400  BTC ≈  4724.81 USDC

Viabtc:

11db9ca4d8fe65490234bdb3745ed71377b3c7b1271f735c5f1d6d4f07f530e7
Transaction Size (Current TX Size + Previous Unconfirmed TX Size)
8888 Bytes = (8888 + 0) Bytes
Total fee
0.0853248 BTC ≈ 5667.31

Antpool:

Transaction volume 8888 vBytes = (8888 + 0) vBytes (Current + Previous Unconfirmed)
Acceleration price 2289.71 USDT
2289.71 USDT

I assume antpool is their partner pool as they have the same price range on many tx and would match the claimed 27% total hashrate or so...

Is your transaction accelerator really one of the cheapest? I don't find such a service beneficial. I checked another typical one input one output transaction and for a transaction that needs 1$ to get included in the next block, your accelerator asks user to pay 517.6 USDT. Here is transaction id - 6f661ff27a87234d90f0dbde2dcbc967f19521d94ee4b2bd717254e8cedb6c50

That tx has 17 unconfirmed parents, it's not a 127vb but 2000vb tx in realty, unconfirmed parents always screw up calculations with these accelerators.

Not defending spiderpool here for their fees but they are currently the cheapest unless mempool finally starts greenlighting accounts with their accelerators, I still find them more than expensive, and unless in a dire need or in a case of not trusting your partner with a large sum of money I wound;t ever use an accelerator but that's what pools charge nowadays, pretty much knowing the same, some are trapped in this mempool with tx beyond their control.

[Synchronice]

We're looking for ways to optimize these fee rates in the future.

Can we talk a little more about this? I don't understand what ways you are looking for to optimize fee rates. You are the pool, you can set any fee you want. If you can't calculate real time fees yourself, just use mempool.space, it's one of the most correct transaction fee estimator.

Not defending spiderpool here for their fees but they are currently the cheapest unless mempool finally starts greenlighting accounts with their accelerators, I still find them more than expensive, and unless in a dire need or in a case of not trusting your partner with a large sum of money I wound;t ever use an accelerator but that's what pools charge nowadays, pretty much knowing the same, some are trapped in this mempool with tx beyond their control.

By the way, I find it a little curious that pools start integration of transaction accelerator services when nodes can opt-in RBF to full RBF and live a happy life.
Fees of these accelerators are ridiculously high but on the other hand I would agree with tremendously high fees if this dream of mine would became a real thing (I would give up on RBF too). Imagine a world with no RBF and ordinals spammers need to increase transaction fees. At the moment their bots increase transaction fees automatically often for no reason. If they had to use paid Bitcoin transaction accelerators, they would go bankrupt within minutes.

[PX-Z]

We're looking for ways to optimize these fee rates in the future.

Can we talk a little more about this? I don't understand what ways you are looking for to optimize fee rates. You are the pool, you can set any fee you want. If you can't calculate real time fees yourself, just use mempool.space, it's one of the most correct transaction fee estimator.

Indeed, but following the mempool.space fee recommendation means little to no earnings to their accelerators. Accelerators are only used and useful when fees go high and when people accidentally use too small fee, or just bad wallet fee recommendation that it already take weeks yet still unconfirmed, so you can't use it everyday. These mentioned stuff are the target market of accelerators.

Imagine a world with no RBF and ordinals spammers need to increase transaction fees. At the moment their bots increase transaction fees automatically often for no reason. If they had to use paid Bitcoin transaction accelerators, they would go bankrupt within minutes.

RBF was introduced way before ordinals was introduced. It means that the problem of fees are existing since then. Removing it or if it wasn't made will cause too much headaches to majority not just to those Ordinal users

[hi@spiderpool]

The transaction's size is 8.89 KB with a fee of 9.03 sat/vb. Basically, it will be automatically confirmed in an hour or two. At the moment the transaction fee in USD is 53.10$. Your transaction accelerator asks for 2276.71 USDT to get the transaction accelerated, e.g. included by your or your partner's pool. (TX id for reference - 11db9ca4d8fe65490234bdb3745ed71377b3c7b1271f735c5f1d6d4f07f530e7)

No it won't  , but anyhow
F2 pool asks for :

TXID
11db9ca4d8fe65490234bdb3745ed71377b3c7b1271f735c5f1d6d4f07f530e7
Transaction Volume (Current + Previous Unconfirmed)
8888 vbytes = (8888 + 0) vbytesTotal Fees  (The USDC amount is estimated and subject to exchange rate changes.)
0.07110400  BTC ≈  4724.81 USDC

Viabtc:

11db9ca4d8fe65490234bdb3745ed71377b3c7b1271f735c5f1d6d4f07f530e7
Transaction Size (Current TX Size + Previous Unconfirmed TX Size)
8888 Bytes = (8888 + 0) Bytes
Total fee
0.0853248 BTC ≈ 5667.31

Antpool:

Transaction volume 8888 vBytes = (8888 + 0) vBytes (Current + Previous Unconfirmed)
Acceleration price 2289.71 USDT
2289.71 USDT

I assume antpool is their partner pool as they have the same price range on many tx and would match the claimed 27% total hashrate or so...

Is your transaction accelerator really one of the cheapest? I don't find such a service beneficial. I checked another typical one input one output transaction and for a transaction that needs 1$ to get included in the next block, your accelerator asks user to pay 517.6 USDT. Here is transaction id - 6f661ff27a87234d90f0dbde2dcbc967f19521d94ee4b2bd717254e8cedb6c50

That tx has 17 unconfirmed parents, it's not a 127vb but 2000vb tx in realty, unconfirmed parents always screw up calculations with these accelerators.

Not defending spiderpool here for their fees but they are currently the cheapest unless mempool finally starts greenlighting accounts with their accelerators, I still find them more than expensive, and unless in a dire need or in a case of not trusting your partner with a large sum of money I wound;t ever use an accelerator but that's what pools charge nowadays, pretty much knowing the same, some are trapped in this mempool with tx beyond their control.

Correct, we made that statement based on what is most publicly available and Mempool.space's accelerate is currently on a allowlist basis.

Another factor to take into account is, majority of the time, people wont use txn accelerator's for smaller txn's unless they're stuck etc.  Most likely it might be a time based restriction (eg. cheap listing of an ordinal where user wants to snipe / minting the first rune). There's alot of possibilities. However, we are aware that the prices of fees will be a big factor on whether or not a user uses our txn accelerator, hence, we are looking for ways to make them cheaper and looking for partners.

[hi@spiderpool]

We're looking for ways to optimize these fee rates in the future.

Can we talk a little more about this? I don't understand what ways you are looking for to optimize fee rates. You are the pool, you can set any fee you want. If you can't calculate real time fees yourself, just use mempool.space, it's one of the most correct transaction fee estimator.

Not defending spiderpool here for their fees but they are currently the cheapest unless mempool finally starts greenlighting accounts with their accelerators, I still find them more than expensive, and unless in a dire need or in a case of not trusting your partner with a large sum of money I wound;t ever use an accelerator but that's what pools charge nowadays, pretty much knowing the same, some are trapped in this mempool with tx beyond their control.

By the way, I find it a little curious that pools start integration of transaction accelerator services when nodes can opt-in RBF to full RBF and live a happy life.
Fees of these accelerators are ridiculously high but on the other hand I would agree with tremendously high fees if this dream of mine would became a real thing (I would give up on RBF too). Imagine a world with no RBF and ordinals spammers need to increase transaction fees. At the moment their bots increase transaction fees automatically often for no reason. If they had to use paid Bitcoin transaction accelerators, they would go bankrupt within minutes.

Yes, we are a pool and can set whatever fees we deem fit. However, the reality of things would be that we are still a small pool and would a user be willing to pay eg. $10 USDT for our txn acceleration where the odds of us getting a block is 1-2%?
But when we're partnering with bigger pools its not something we have full control over.

[Synchronice]

Yes, we are a pool and can set whatever fees we deem fit. However, the reality of things would be that we are still a small pool and would a user be willing to pay eg. $10 USDT for our txn acceleration where the odds of us getting a block is 1-2%?
But when we're partnering with bigger pools its not something we have full control over.

Yes, you are right, you are a new pool with very low probability of getting a block mined. Now I understand what you mean but I just wanted to say that so ridiculously high acceleration fees aren't going to attract people and I hope you'll manage to make your partners believe that.
By the way, if you manage to grow your pool, i.e. let's say you mine 5-6 blocks a day, then I think it will be good to start thinking about totally your own transaction acceleration service.
I hope you'll manage to get a good deal with partners and offer us a decent transaction accelerator that won't rip our wallets.

[hi@spiderpool]

Yes, we are a pool and can set whatever fees we deem fit. However, the reality of things would be that we are still a small pool and would a user be willing to pay eg. $10 USDT for our txn acceleration where the odds of us getting a block is 1-2%?
But when we're partnering with bigger pools its not something we have full control over.

Yes, you are right, you are a new pool with very low probability of getting a block mined. Now I understand what you mean but I just wanted to say that so ridiculously high acceleration fees aren't going to attract people and I hope you'll manage to make your partners believe that.
By the way, if you manage to grow your pool, i.e. let's say you mine 5-6 blocks a day, then I think it will be good to start thinking about totally your own transaction acceleration service.
I hope you'll manage to get a good deal with partners and offer us a decent transaction accelerator that won't rip our wallets.

Thank you for your opinion's, always good to get a general sentiment of the public!