Topic: Are you using low fees? - page 18. (Read 13460 times)
That's true, with the higher bitcoin price, the fee is also very pronounced, I also address the low fee, but only for withdrawal to fiat money.
I never tried below normal transaction fee. Maybe im afraid my funds to be stuck and pending in many days. Also i only transfer funds when i really need the fund. And for that i have to put normal to priority miner fee to make it faster and avoid inconvenience. That's a good move tho. But i rather don't transfer the funds than wait for that long.
I am also mindful of what fees I end up paying for the transactions I make and it depends on how quick I may want them confirmed, Sometimes I go with the fastest, some other times I settle for the lowest fees, but never encountered delay beyond couple of hours. For a long while I have not been using my blockchain wallet, because on one day I calculated what fees I had had to pay all the while I used them, I was astound by the figure that stared at me, Xapo then became my main wallet.
I only move my BTC if it is needed so I do not use low fees. I use the recommended fee since I hate waiting too long. This might remind me one day that I spent too much on Transaction fee but at least i can tell myself, I saved me from all the stress and frustration of getting my transaction confirmed.
Sometimes when I withdraw BTC to my wallet, I set really low fees like 50-70 satoshi per byte and wait for weeks, because I'm not going to spend those coins in the near future anyway. I think it's a good way to save a bit of money, because if you look back, you might realize that your fees have added up to a big amount in USD value, while it wasn't always necessary to get those coins confirmed asap.
So, do you use low fees, or always want to get confirmation in a next few blocks?
So, do you use low fees, or always want to get confirmation in a next few blocks?
That is entirely your personal choice. This is the reason why the concept of "Dynamic Fees" is developed.
However, I don't feel waiting for weeks is good option especially for me where I need to remunerate number of people daily who keep up my work running. Nor it will contribute to our vision of 'Bitcoin as money'. No money takes a week to transfer between two people.
So low fees and wait can't be any solution. We need some amendment is block size.
I used in the range of 50-100 sat/byte only. That's the limit that I can only afford and I'm lucky that it will be pick up and not struck in days or even weeks. Of course it will took me like 12-24 hrs to wait for the transaction to be confirmed, but I'm still fine with that because I'm not always in a hurry when sending/receiving bitcoin on my own wallet.
At times I find myself paying high fees because I need my bitcoin transaction confirmed in the fastest possible time
atm am paying fees in the ranges of 40-60k satoshis which is high enough imo hope it maintains this range for the time being.
If value of bitcoin are continuous increasing i think that range will increase also. For me i do not try the higher fee because i am not in hurry to get my balances that is why 24hrs before to confirmed my transaction is not a big deal to me.atm am paying fees in the ranges of 40-60k satoshis which is high enough imo hope it maintains this range for the time being.
I use xapo wallet, and xapo users are not allowed to set the fees as they want. So xapo set 2 ways for transactions fees, High priority and standard fees. I don't like this way, when we talk about fees, we should set our fees as we want. Anyways, current xapo fees are too high, i don't recommand to use xapo if you make transactions daily.
At times I find myself paying high fees because I need my bitcoin transaction confirmed in the fastest possible time
atm am paying fees in the ranges of 40-60k satoshis which is high enough imo hope it maintains this range for the time being.
If value of bitcoin are continuous increasing i think that range will increase also. For me i do not try the higher fee because i am not in hurry to get my balances that is why 24hrs before to confirmed my transaction is not a big deal to me. atm am paying fees in the ranges of 40-60k satoshis which is high enough imo hope it maintains this range for the time being.
At times I find myself paying high fees because I need my bitcoin transaction confirmed in the fastest possible time
atm am paying fees in the ranges of 40-60k satoshis which is high enough imo hope it maintains this range for the time being.
atm am paying fees in the ranges of 40-60k satoshis which is high enough imo hope it maintains this range for the time being.
We can set our desired fee when using blockchain wallet too but frankly if we used low fees, below 100 sat/B, there's a chance for our transaction to get confirmed after several days. It's better to use medium or higher fee if we are in a hurry.
The number of unconfirmed transactions is now standing at less than 50,000 and it is going to decline even further. Perhaps now it is a golden chance to start a few low-fee transactions. Yesterday, I tried a low-free transaction where I paid around 120 Sat/B, and it got confirmed in less than 24 hours.
https://blockchain.info/unconfirmed-transactions
There is a pretty damn stupid reason why the unconfirmed number was decreasing..
Believe it or not is because of the increase in mining power.
We were getting a block every 8 minutes and the capacity of the chain was increased by nearly 20%.
But the dif adjustment just kicked in and the number will go up again.
I am giving normal than the usual fee, or just as lesser high than the normal for example if the fee are 0.01 btc I would just give a 0.011 btc instead this is to ensure that it will be confirm to the blockchain and sometime I am using wallet that are zero transaction or would prefer a wallet that have zero fee if the transaction is on the same wallet, just like what I am using right now, well if I had a transaction with someone I prefer to let him make a same wallet as mine to do the transaction, but if it is to the Blockchain I always want a fast transaction that is why I give not that much bigger fees to fasten the transaction because I am surely using that coins to make a trade wuth other coins as well.
I am using Blockchain wallet, the wallet dont allow the users to custom the fee's amount, however it propose some medium amount as fee, but it guarantee that the transaction get confirmed soon.
You should get a wallet which allows you to set fee you want. If you are not in a hurry you should set minimum fee, because you never know, we are potentially spending hundreds of dollars (if BTC price go to the sky) for each transation... Keep that in mind! 
Last time i used a low fee. I ended up getting my transactions back to my wallet not once but thrice. I only payed 10k sat as a transaction fee and it was unconfirmed for about 3days each transactions which drives me fvcking crazy
sometime yes, when i am not in hurry to sell my coins. i send from blockchain and not use their recommended fee and wait for it to get confirmation itself. but sometime my transaction back to my wallet and i must send my coins again
I am using Blockchain wallet, the wallet dont allow the users to custom the fee's amount, however it propose some medium amount as fee, but it guarantee that the transaction get confirmed soon.
I too use the lowest fees when I transfer or withdraw BTC to my wallet and the funny thing is that it doesn't really take that long to reflect in my wallet. And that's what I usually use too especially when I'm taking out my capital in trading and returning the funds back to my wallet.
well, it is now the closest thing makes people restless or confused is confirmation that occurs in the bitcoin. Where sometimes there is someone who uses a standard cost above the fee suffered a long delivery, but there is also a transaction with a small standard fee or get a faster confirmation. But for me, if indeed I do onsite will be much better I budge by giving a big fee. Because if it does so then I can lose a lot of great opportunities
I am not that much into sending transactions beside the occasional deposits to my exchange.
I am just sticking to the recommended fees as per the example of 21.co. In most cases they confirm within 2 blocks, but some times they take 4 or 5 blocks to finally confirm.
If I need to have my deposits confirm quickly, I just include a bonus $1 in fees. It's obviously not an ideal situation, but we have to deal with it, whether we like it or not ~ complaining is pointless.
I am just sticking to the recommended fees as per the example of 21.co. In most cases they confirm within 2 blocks, but some times they take 4 or 5 blocks to finally confirm.
If I need to have my deposits confirm quickly, I just include a bonus $1 in fees. It's obviously not an ideal situation, but we have to deal with it, whether we like it or not ~ complaining is pointless.
Sometimes when I withdraw BTC to my wallet, I set really low fees like 50-70 satoshi per byte and wait for weeks, because I'm not going to spend those coins in the near future anyway. I think it's a good way to save a bit of money, because if you look back, you might realize that your fees have added up to a big amount in USD value, while it wasn't always necessary to get those coins confirmed asap.
So, do you use low fees, or always want to get confirmation in a next few blocks?
So, do you use low fees, or always want to get confirmation in a next few blocks?
I always need the money I earned through bitcoin so I always have to use low fees. But like what you said I realized that those small amount of bitcoins sooner if you would add all of it, it will sum to a valued amount. So since then, I make sure to make it big and then make a huge withdrawal so the fee is all worth it.
We can set our desired fee when using blockchain wallet too but frankly if we used low fees, below 100 sat/B, there's a chance for our transaction to get confirmed after several days. It's better to use medium or higher fee if we are in a hurry.
The number of unconfirmed transactions is now standing at less than 50,000 and it is going to decline even further. Perhaps now it is a golden chance to start a few low-fee transactions. Yesterday, I tried a low-free transaction where I paid around 120 Sat/B, and it got confirmed in less than 24 hours.
https://blockchain.info/unconfirmed-transactions
you need to do some analyzing on the mempool sometimes. i have had some 100 satoshi/byte fee transactions in the past few days which have been confirmed in less than 5 minutes!
as i have said multiple times, the big number you see in the mempool (60K, 90K) are mostly spam attack not real transactions which means most of them have pretty low fees.
I'm not very good at doing the mempool analysis. I do not really understand that. Is it no tutorial to understand that analysis. Because I'm so fed up with the very long transaction time. When I've used a fairly large feeas i have said multiple times, the big number you see in the mempool (60K, 90K) are mostly spam attack not real transactions which means most of them have pretty low fees.
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