A fee of 4,6sat/b is ridicolously low!!!

skyline247

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Activity: 700

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Quote from: sana54210 on September 02, 2017, 12:37:29 PM

Wow, someone seems to be lucky here. I’m always afraid of sending money/bitcoin with a low priority fee. I use the high fees, though it’s costly, but I do it to avoid loss. I’ve experienced some 30 days a transaction with low fee, and it never got confirmed after 24 hours, and I was surprised when it continued till the next day without getting confirmed.

Hey OP did you use any accelerating services to push your tx to get confirmation ?

Even transactions with 5 satoshis/byte can go through in 24 hours or under a week once the network slows down. It is just that during high traffic times like these when many people are using Bitcoin you need to use high fees to get your transaction through quickly.

Kaller

hero member

Activity: 752

Merit: 501

Yes it is indeed, and I think it would go through even if you sent it today... it would just take a LOT longer than it used to. But eventually it would. I sent an 11 sat/b a few weeks ago and it went through within 24 hours!

AGD

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Keeper of the Private Key

Quote from: sana54210 on September 02, 2017, 12:37:29 PM

Wow, someone seems to be lucky here. I’m always afraid of sending money/bitcoin with a low priority fee. I use the high fees, though it’s costly, but I do it to avoid loss. I’ve experienced some 30 days a transaction with low fee, and it never got confirmed after 24 hours, and I was surprised when it continued till the next day without getting confirmed.

Hey OP did you use any accelerating services to push your tx to get confirmation ?

The only thing I did, was to adjust the fee manually with Electrum. I always do this.

sana54210

legendary

Activity: 3346

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Wow, someone seems to be lucky here. I’m always afraid of sending money/bitcoin with a low priority fee. I use the high fees, though it’s costly, but I do it to avoid loss. I’ve experienced some 30 days a transaction with low fee, and it never got confirmed after 24 hours, and I was surprised when it continued till the next day without getting confirmed.

Hey OP did you use any accelerating services to push your tx to get confirmation ?

panju1

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Activity: 1246

Merit: 1000

Quote from: talkbitcoin on September 02, 2017, 04:37:03 AM

Quote from: aso118 on September 02, 2017, 04:02:44 AM

Quote from: AGD on September 02, 2017, 03:32:56 AM

https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f
2 Dollars sent with a 5 Cent fee, fully confirmed in not even 12 hours.

Did you turn lucky or does this even happen in the real world? I first thought it could be something related to child-pays-for-parent, but that doesn't seem to be the case here. Both outputs are unspent.

it is not luck, it happens sometimes!
it is actually pretty funny because if you check the block itself (483017) you can see that about 90% of the transaction inside of it have a fee less than 10 s/B!

Maybe it is something to do with the miner who mined that block? He decided to confirm low fee transactions, just to get a kick out of it?

Quote from: Iranus on September 02, 2017, 04:19:38 AM

Quote from: aso118 on September 02, 2017, 04:02:44 AM

Quote from: AGD on September 02, 2017, 03:32:56 AM

https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f
2 Dollars sent with a 5 Cent fee, fully confirmed in not even 12 hours.

Did you turn lucky or does this even happen in the real world?

It happens. Actually, the fee estimating site is showing that even zero-fee transactions are being confirmed (whether that'll last I don't know).

AGD should try sending a zero-fee transaction just for the sake of saying that 0 satoshi/byte is ridiculously low.

That said, it's not like most consumers are willing to send to a merchant online and wait twelve hours before their transaction confirms.

Zero fee transaction? Haven't sent one across in years. That would really be something, if they were to make a comeback.
That would take the wind out of most block capacity arguments.

BitcoinPricingtool

newbie

Activity: 34

Merit: 0

The issue isn't about the amount, Regardless of whether it's 2 USD or 20K USD, as long as the size in bytes and the total fees are reasonable with the network TX level it will get confirmed.
For the current TX time, I would say something along the range of 30 Satoshi per byte minimum, if you want it confirmed within few hours, but with 4,6, it wouldn't be strange to have to wait for days until a miner include it.

talkbitcoin

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All I know is that I know nothing.

Quote from: aso118 on September 02, 2017, 04:02:44 AM

Quote from: AGD on September 02, 2017, 03:32:56 AM

https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f
2 Dollars sent with a 5 Cent fee, fully confirmed in not even 12 hours.

Did you turn lucky or does this even happen in the real world? I first thought it could be something related to child-pays-for-parent, but that doesn't seem to be the case here. Both outputs are unspent.

it is not luck, it happens sometimes!
it is actually pretty funny because if you check the block itself (483017) you can see that about 90% of the transaction inside of it have a fee less than 10 s/B!

olushakes

sr. member

Activity: 476

Merit: 254

Quote from: AGD on September 02, 2017, 03:32:56 AM

https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f
2 Dollars sent with a 5 Cent fee, fully confirmed in not even 12 hours.

I really don't understand what we all want, when the transaction fee was high we all complained to the high heavens that it's was exorbitant and now the fee is low we are still complaining. I expect that what should be done is to give credit to those who went to activate segwit to have witnessed fees ridiculous as this.

Iranus

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Activity: 1792

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Leading Crypto Sports Betting & Casino Platform

Quote from: aso118 on September 02, 2017, 04:02:44 AM

Quote from: AGD on September 02, 2017, 03:32:56 AM

https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f
2 Dollars sent with a 5 Cent fee, fully confirmed in not even 12 hours.

Did you turn lucky or does this even happen in the real world?

It happens. Actually, the fee estimating site is showing that even zero-fee transactions are being confirmed (whether that'll last I don't know).

AGD should try sending a zero-fee transaction just for the sake of saying that 0 satoshi/byte is ridiculously low.

That said, it's not like most consumers are willing to send to a merchant online and wait twelve hours before their transaction confirms.

aso118

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Activity: 1918

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★Nitrogensports.eu★

Quote from: AGD on September 02, 2017, 03:32:56 AM

https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f
2 Dollars sent with a 5 Cent fee, fully confirmed in not even 12 hours.

Did you turn lucky or does this even happen in the real world? I first thought it could be something related to child-pays-for-parent, but that doesn't seem to be the case here. Both outputs are unspent.

Emoclaw

sr. member

Activity: 420

Merit: 251

There are other ways for a transaction to be confirmed besides waiting when using a low fee.
There are services where a user can pay to have his transaction included in the next block mined by a pool.
ViaBTC has a free such service but they don't accept transactions below 10 sats/b fee.

AGD

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Keeper of the Private Key

https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f
2 Dollars sent with a 5 Cent fee, fully confirmed in not even 12 hours.

Topic: A fee of 4,6sat/b is ridicolously low!!! (Read 376 times)