Well im not using big fees at all, all my transactions has been made with 50-65k satoshis those are taking a few more hours then the usual time when there werent the delays at the blockchain, since im not in rush to get and make the transactions i can wait, but doesnt make sense to pay a premium fee to make my transactions.
Topic: Are you using low fees? - page 6. (Read 13460 times)
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?
In choosing the fee you going to use in transaction, you should consider things like your need and how you are going to used in transaction. Because the differences of each transaction fee is base on the time or how long it will take to proceed the transaction and if you are going to used or the transaction is quite urgent it is better to used high fee with the high transaction value because it may less the amount of fee. But if you do not need the transaction is much better to use low fees in transaction and wait for conformation. So, do you use low fees, or always want to get confirmation in a next few blocks?
I have used low fees without many problems, sometimes to my surprise the transaction gets confirmed within a short period, some others I've had to wait days for them to confirm. On a couple of occasions after waiting forever, the tx were discarded by the network and the bitcoin returned to my wallet.
No lower fees your transaction. Your transaction will get deprioritized by the blockchain. But it depends on the traffic on the bitcoin network. The more unconfirmed transaction will make the chain will be slowly to validate the transaction. If the people are in the competition to pay more and more to get their transaction to be confirmed in short time and the big competition of the fees will make your transaction fees get deprioritized and it can back to your wallet because the mempool is forgetting your transaction. 
I have used low fees without many problems, sometimes to my surprise the transaction gets confirmed within a short period, some others I've had to wait days for them to confirm. On a couple of occasions after waiting forever, the tx were discarded by the network and the bitcoin returned to my wallet.
Before, I'm setting my transactions at the lowest priority and fees today are really high. I did experience to wait for almost 20 hours before my transaction gets confirmed because the fee is only 0.0002 BTC. I have seen people paying .001-0.002BTC just for their confirmation gets faster. Hoping this will fixed soon.
I have used low fees without many problems, sometimes to my surprise the transaction gets confirmed within a short period, some others I've had to wait days for them to confirm. On a couple of occasions after waiting forever, the tx were discarded by the network and the bitcoin returned to my wallet.
Before, I'm setting my transactions at the lowest priority and fees today are really high. I did experience to wait for almost 20 hours before my transaction gets confirmed because the fee is only 0.0002 BTC. I have seen people paying .001-0.002BTC just for their confirmation gets faster. Hoping this will fixed soon.
I have used low fees without many problems, sometimes to my surprise the transaction gets confirmed within a short period, some others I've had to wait days for them to confirm. On a couple of occasions after waiting forever, the tx were discarded by the network and the bitcoin returned to my wallet.
Using low fees will only gives us a problem because of being delay in the transaction that
we are going to do. So right now, since I learn from my mistakes but of course I now I set it to highes fees so that it will
be fast.
It is really not a problem if you would not use it right away like OP said but the definition of low fee now can be considered high in the old days. I personally use low fees to transfer bitcoin when I am not in the hurry. Setting it to the highest fee is not always the solution though for a slow transaction. Sometimes, a 0.0005 BTC or 0.001 BTC fee is enough to get transactions confirmed in no time. we are going to do. So right now, since I learn from my mistakes but of course I now I set it to highes fees so that it will
be fast.
Last time I used normal fees was quite long ago. In the last few months, I always use fees hefty enough for next block confirmation, mainly because when I spend Bitcoins, I spend them to buy something and next block confirmation are always welcome in these cases.
Using low fees will only gives us a problem because of being delay in the transaction thatwe are going to do. So right now, since I learn from my mistakes but of course I now I set it to highes fees so that it will
be fast.
Yesterday I sent tx with 34 sat/B and it is 2KB in size and it is still unconfirmed.
Will blockchain.info cancel transaction after some time? I know there is no chance it will be included in block since it's so large.
As I understand this, blockchain.info will undo transaction once nodes stop to broadcast it.
Will blockchain.info cancel transaction after some time? I know there is no chance it will be included in block since it's so large.
As I understand this, blockchain.info will undo transaction once nodes stop to broadcast it.
The exchanges I use don't give me the option but on the odd occasion I do make a transfer generally its one I can wait some time for so I use low fees.
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?
Yes, I used low fees before when I first do transaction to withdraw my bitcoin using electrum wallet then I set it to the lowest feesSo, do you use low fees, or always want to get confirmation in a next few blocks?
Since by that time I had no idea about it before I received my bitcoin it takes 3days.
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?
Yes i am using low fees. So, do you use low fees, or always want to get confirmation in a next few blocks?
i go for middling fees. i'm not convinced fees that low will ever confirm with things the way there are these days. if i'm buying something then i go for relatively high because i don't want to be waiting around.
Yes, its very irritating to wait for a long time whenever I used low fees. Sometimes I much prefer for a high fees to get as soon as possible what ever things that i buy.Most of the times I will choose the highest fee to pay and get confirmation as soon as possible because I don't like waiting for long. But now Bitcoins are no more attractive to send small amount so I stopped using bitcoins for smaller amount transactions. For small amounts, I prefer to use either ETH or DOGE coins. XAPO nowadays charges very high fee compared to blockchain fees.
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?
Here I have things to understand and explain . First of all currently the fee rate got down . About 2 days ago I made a transaction with the low priority from the mysselium wallet and get confirmed in 6 minutes with 1 confirmation like a miracle/magic so here I am 100% sure if I can send Bitcoin with the fee 0.0001then it will get confirm soon and it will be about 50-60sat per byte .So, do you use low fees, or always want to get confirmation in a next few blocks?
Here not only you are using the low fee but a big exchange in my country using the same thing for the fee , they are using 50sat/byte for ownself transaction and get confirmed after month , that is really cool.for them because they don't much need for the speed because they have lot of money but are also savings much money with fee system .
And currently the fee is also down , so we can use to include our transaction in the block easily but true is that we need to wait for the weeks .
Am currently using exchanges as my wallet. It pretty much does the job for me. The fee as far as know isn't that a big deal. People adviced me against using exchange, I have no choice unfortunately.
I use it depending on the transaction that I run, big or small.
In the last few months I use a fee to be confirmed, especially I spend bitcoin.
In the last few months I use a fee to be confirmed, especially I spend bitcoin.
Since my Transactions are time sensitive so I do use high fees to get fast confirmations .
Your approach is right as Your transactions are not time sensitive you can wait for few weeks to get the confirmations .
Your approach is right as Your transactions are not time sensitive you can wait for few weeks to get the confirmations .
Really depends on the nature of the transaction for me. If I am trying to get it to an exchange in order to execute a trade Ill put high-normal fees on it. But if I am withdrawing to a hardware wallet or sending to a friend and its not urgent Ill put low, to lowest fees I think will make it.
Another of my low fee transactions (25sat/byte) got confirmed recently, it took more than 5 weeks, which is fine for me. Maybe I'll test pushing low fee transactions some day, because it looks like a good strategy to save some money - you can send coins to your wallet with very low fees and in case you will need them confirmed, you just add more fees. Pushing transaction probably costs a lot (my Electrum suggested something like 0.006-0.01 BTC for child pays per parent transaction), but most of the time you will be saving money with lower fees, so in the long run this strategy should pay out.
Really?
Can you share with us the tx?
Because till now I haven't heard of a transaction that has been in the mempool for more than 10 days without getting dropped.
5 weeks in the pool is a record.
Also I think you missed a 0 there ,
Quote
my Electrum suggested something like 0.006-0.01 BTC for child pays per parent transaction)
, I doubt Electrum charges 30$ for a tx.https://blockchain.info/tx/4518d0bd6f28e718eceec5eb6f995024e56d61d9ede71601c717f83dbfbabceb
Timestamp shows wrong date, it was sent on 2017-05-09.
As for Electrum, it proposes those high fees for child pays for parent transaction, in order to get it confirmed both transactions very quickly.
Another of my low fee transactions (25sat/byte) got confirmed recently, it took more than 5 weeks, which is fine for me. Maybe I'll test pushing low fee transactions some day, because it looks like a good strategy to save some money - you can send coins to your wallet with very low fees and in case you will need them confirmed, you just add more fees. Pushing transaction probably costs a lot (my Electrum suggested something like 0.006-0.01 BTC for child pays per parent transaction), but most of the time you will be saving money with lower fees, so in the long run this strategy should pay out.
Really?
Can you share with us the tx?
Because till now I haven't heard of a transaction that has been in the mempool for more than 10 days without getting dropped.
5 weeks in the pool is a record.
Also I think you missed a 0 there ,
Quote
my Electrum suggested something like 0.006-0.01 BTC for child pays per parent transaction)
, I doubt Electrum charges 30$ for a tx. Jump to: