Bitcoin Forum
May 02, 2024, 03:23:00 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: What is supposed to happen with "legit" fees that are below the standard...  (Read 576 times)
Bit_Happy (OP)
Legendary
*
Offline Offline

Activity: 2100
Merit: 1040


A Great Time to Start Something!


View Profile
April 16, 2014, 08:47:55 PM
 #1

I used 50% of the suggested fee, since I was sending a small amount of BTC.
According to blockchain.info ... "Estimated Confirmation Time = Very Soon (High Priority)"
...but that isn't correct since it's been totally unconfirmed for almost an hour.

What is supposed to happen (on average/in general) with "legit" fees that are below the standard amount for a new transaction?
Do they get ignored "almost as badly" as no fee at all?

1714620180
Hero Member
*
Offline Offline

Posts: 1714620180

View Profile Personal Message (Offline)

Ignore
1714620180
Reply with quote  #2

1714620180
Report to moderator
TalkImg was created especially for hosting images on bitcointalk.org: try it next time you want to post an image
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1714620180
Hero Member
*
Offline Offline

Posts: 1714620180

View Profile Personal Message (Offline)

Ignore
1714620180
Reply with quote  #2

1714620180
Report to moderator
1714620180
Hero Member
*
Offline Offline

Posts: 1714620180

View Profile Personal Message (Offline)

Ignore
1714620180
Reply with quote  #2

1714620180
Report to moderator
BitchicksHusband
Sr. Member
****
Offline Offline

Activity: 378
Merit: 255


View Profile
April 16, 2014, 08:51:29 PM
 #2

I used 50% of the suggested fee, since I was sending a small amount of BTC.
According to blockchain.info ... "Estimated Confirmation Time = Very Soon (High Priority)"
...but that isn't correct since it's been totally unconfirmed for almost an hour.

What is supposed to happen (on average/in general) with "legit" fees that are below the standard amount for a new transaction?
Do they get ignored "almost as badly" as no fee at all?

In theory, worse.  Miners have two buckets.  One is to get as many fees as possible and the other is an altruistic "free" bucket (kind of like pro bono legal work).  A very low fee doesn't fit into either bucket.  But it should get picked up eventually when things are slow.

I posted a 3 Satoshi fee once (just to get rid of an annoying 3 satoshis at the end of my wallet balance) and it took about a day, but did eventually go through).

1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
Meuh6879
Legendary
*
Offline Offline

Activity: 1512
Merit: 1011



View Profile
April 16, 2014, 09:19:53 PM
 #3

normal fee : 0,0001 BTC
high fee : 0,0002 BTC


what is the amount of your fee ?
bitcoin-QT don't allow to "decrease" this rate ... and Android Wallet, too.

so ...  Roll Eyes play in the rules ! And you can touch the 7min for 1 confirmation.
greenlion
Hero Member
*****
Offline Offline

Activity: 667
Merit: 500


View Profile
April 16, 2014, 09:38:47 PM
 #4

I think it's pretty well-established vis-a-vis Murphy's Law that the exact moment you decide to put a transaction through with a suitable fee you've guaranteed that we're going to be in one of the statistically-infrequent periods where it takes upwards of a half-hour to produce the next block!
jbrnt
Hero Member
*****
Offline Offline

Activity: 672
Merit: 500



View Profile
April 16, 2014, 10:29:11 PM
 #5

What is supposed to happen (on average/in general) with "legit" fees
that are below the standard amount for a new transaction?
Do they get ignored "almost as badly" as no fee at all?

My impression is that pools treat all transactions, with fees less than the current standard 0.0001btc, as free tranactions. So, not "almost as badly", is "exactly as badly" as no fee at all.

Regarding the estimated confirmation time in blockchain.info, I have no clue how this new estimation aglo works. I have seen transactions has "very soon" status for 12hours. I prefer their old system stating the actual place in the queue.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!