[Aug 2022] Mempool empty! Use this opportunity to Consolidate your small inputs! - page 46.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

Quote from: NeuroticFish on April 04, 2021, 01:43:11 PM

Quote from: Pmalek on April 04, 2021, 01:20:13 PM

Right now, you need 70-80 sats to get in the next 3-5 blocks the way it stands now.

There was no block found in the last 55 minutes, hence I expect that there could be soon another opportunity to send transactions at under 10 sat/vByte.

I got one confirmed yesterday at 10 sats per byte (very fast conf). It has 120 conformations now so only took 4 hours at most to confirm.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: Pmalek on April 04, 2021, 01:20:13 PM

Right now, you need 70-80 sats to get in the next 3-5 blocks the way it stands now.

There was no block found in the last 55 minutes, hence I expect that there could be soon another opportunity to send transactions at under 10 sat/vByte.

Pmalek

legendary

Activity: 2730

Merit: 7065

Today really was a good day for those who were waiting for good opportunities to consolidate their inputs. I had a next block confirmation using a transaction fee of 6 sat/vByte. I made another consolidation at a little above 5 sats which got confirmed in an hour. I was planning to send some other less important transactions but the window has passed. Right now, you need 70-80 sats to get in the next 3-5 blocks the way it stands now.

Oshosondy

legendary

Activity: 1652

Merit: 1208

Gamble responsibly

Quote from: ?? on ??

In the past weeks, I've seen fees rise a lot. At the moment, 7 sat/byte is enough for a fast confirmation. If you're not in a hurry, you can go lower: I've just had a 5 sat/byte transaction that confirmed today (after several days). In this transaction I double spent a transaction from February, which didn't confirm with 2 sat/byte.

I had a transaction not confirmed since February 11 2021 which is over a month ago, luckily confirmed in two hours ago, the transaction is 5 sat/vbyte.

3a7101abfeba0b5ea31777f97b8c27a0705e197e087aa2ba676cebf8816bf88b

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

Quote from: BrewMaster on March 23, 2021, 11:35:22 AM

Quote from: LoyceV on March 22, 2021, 04:51:39 PM

Quote from: BrewMaster on March 22, 2021, 12:44:58 PM

edit: assuming this is the 1Merit address this may actually be a bug in electrum with uncompressed public keys.

That makes sense, will you report the bug?

unfortunately my hard disk blew up a while ago and i lost some of my login passwords including the one to my github account. it would be quicker for someone with access to report it than me creating a new account for this.

Noted: boating accident. lost all bitcoins too.

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Today, someone added about 35 MB transactions with 6 sat/byte fee to mempool.
Image loading...

That's about 2 Bitcoin in fees for what looks like consolidating about a quarter million inputs.
Anyone who's hoping to get his 5 sat/byte transaction confirmed any time soon: good luck!

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: LoyceV on March 21, 2021, 03:09:27 PM

my fee turned out to be only 6.2 sat/byte.

This transaction was confirmed last night. Fees have been slowly dropping for 4.5 days now:
Image loading...

Don't underestimate the current mempool size though: there's 13 vMB to clear before confirming transactions under 6 sat/byte, and 61 vMB for transactions under 4 sat/byte.

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

Quote from: LoyceV on March 22, 2021, 04:51:39 PM

Quote from: BrewMaster on March 22, 2021, 12:44:58 PM

edit: assuming this is the 1Merit address this may actually be a bug in electrum with uncompressed public keys.

That makes sense, will you report the bug?

unfortunately my hard disk blew up a while ago and i lost some of my login passwords including the one to my github account. it would be quicker for someone with access to report it than me creating a new account for this.

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

If you can live with a slightly restricted character set, you can make native segwit (bc1qxxxx) vanity addresses... even legacy compatible segwit (3xxxx) vanity addresses.

Like bc1qfeedch80zxged6apxyknugt67e47nsw00tpguu for example. Feed Ch-ildren? heh... used to be 1food.

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: BrewMaster on March 22, 2021, 12:44:58 PM

edit: assuming this is the 1Merit address this may actually be a bug in electrum with uncompressed public keys.

That makes sense, will you report the bug?

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

Quote from: LoyceV on March 22, 2021, 12:27:16 PM

Isn't it just because the signature part makes the transaction larger?

it does but the estimator on your online wallet should take that into consideration when showing the fee/byte values. that extra zero byte doesn't happen that often and the signers nowadays usually choose another nonce to get a lower r to avoid that extra byte.

edit: assuming this is the 1Merit address this may actually be a bug in electrum with uncompressed public keys.
if we remove the 15 extra bytes of uncompressed pubkeys (15*32=480 byte) from the size the fee turns into 7.5 sat/byte. that means the estimator messed up here not knowing the pubkey takes 65 byte not 33.

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: Oshosondy on March 22, 2021, 10:57:34 AM

You will really need to be patient, legacy address will make the transaction longer to be confirmed

That's not true when using the same number of sats/(v)byte.

Quote from: LoyceV on March 27, 2019, 02:30:14 PM

are you using the new versions of electrum or the old ones?

I used Electrum 4.0.9.

Quote

if you shared the transaction (or maybe another one on testnet that looks like it if privacy is a concern) it could be analyzed better.

The address is publicly known already.

Quote

the only time the size is changed is when the signatures you produce end up needing an additional 00 at the beginning of their r value when they are encoded. depending on number of signatures this could increase but i don't think enough to decrease the fee by 1 sat/byte.

Isn't it just because the signature part makes the transaction larger?

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

Quote from: LoyceV on March 21, 2021, 03:09:27 PM

I (once again) noticed a flaw in this system: when creating an online transaction in a watch-only wallet, I set a fee of 7.5 sat/byte. When I signed it offline, the transaction increased in size

are you using the new versions of electrum or the old ones?
if you shared the transaction (or maybe another one on testnet that looks like it if privacy is a concern) it could be analyzed better.

the only time the size is changed is when the signatures you produce end up needing an additional 00 at the beginning of their r value when they are encoded. depending on number of signatures this could increase but i don't think enough to decrease the fee by 1 sat/byte.

Oshosondy

legendary

Activity: 1652

Merit: 1208

Gamble responsibly

Quote from: LoyceV on March 22, 2021, 01:27:13 AM

Quote from: DaveF on March 21, 2021, 06:55:43 PM

what were you using to do this?

I used Electrum with legacy addresses (not even "compressed").

You will really need to be patient, legacy address will make the transaction longer to be confirmed, it will also be more longer as it is not a compressed address. I know this is left to you as you are better in this far more than me, but using uncompressed legacy address this time really sounds like a joke for professional like you.

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: DaveF on March 21, 2021, 06:55:43 PM

what were you using to do this?

I used Electrum with legacy addresses (not even "compressed").

DaveF

legendary

Activity: 3500

Merit: 6320

Crypto Swap Exchange

Quote from: LoyceV on March 21, 2021, 03:09:27 PM

I (once again) noticed a flaw in this system: when creating an online transaction in a watch-only wallet, I set a fee of 7.5 sat/byte. When I signed it offline, the transaction increased in size and my fee turned out to be only 6.2 sat/byte....

Slightly OT, but what were you using to do this? I have at times noticed a slight difference in size when signing but never anything that would change more then a fraction of a sat/byte. Not the 1.3 sat/byte that you have. Might be worth some testing.

-Dave

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: Poker Player on March 21, 2021, 01:46:42 PM

Hi LoyceV, thank you very much for this post.

You're welcome

I (once again) noticed a flaw in this system: when creating an online transaction in a watch-only wallet, I set a fee of 7.5 sat/byte. When I signed it offline, the transaction increased in size and my fee turned out to be only 6.2 sat/byte. So while I expected it to confirm quickly, it's now 50 MB from the top and might take weeks or months to confirm. The last time fees were this low was 6 weeks ago (Feb Cool

.
Luckily, I'm not in any rush Tongue

Poker Player

legendary

Activity: 1372

Merit: 2017

Quote from: LoyceV on March 20, 2021, 03:22:48 AM

... In the past weeks, I've seen fees rise a lot. Last Sunday, it reached as low as 7 sat/byte. My expectation for tomorrow is around the same.

...
Electrum's recommendation is currently 159.3 sat/byte for a next-block confirmation and 55.8 sat/byte to confirm with 25 blocks. That's rediculous, there's no need to waste this much money on fees.

Hi LoyceV, thank you very much for this post. Today I wanted to send a small transaction and I was on the verge of not sending it because if I sent the high fee, the commission would be more expensive than the transaction itself. If I sent the standard fee, the transaction cost me the same as the commission, i.e. twice as much. If I put the low fee a little less but almost the same. I searched the forum and found this post, I tried with 10 sat/vb, which was about 2% of fees, that is much cheaper, and in about 12 minutes I had three confirmations. I will keep this thread in my whatchlist and reread it because I am a noob in this transaction stuff.

Edit: I've just tried now 5 sat/vb with the address I had with the lowest amount, like 5/6$, I think this thread is going to be useful for me.

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

In the past hours, 10 sat/byte was enough for a fast confirmation. In the past weeks, I've seen fees rise a lot. Last Sunday, it reached as low as 7 sat/byte. My expectation for tomorrow is around the same.

I noticed Johoe's site got updated:
Image loading...

Instead of the number of transactions, it now shows the transaction weight by default. The graph looks totally different because many low-fee transactions are very large (consolidating many inputs), and the high-fee transactions are a lot smaller.

Pmalek

legendary

Activity: 2730

Merit: 7065

@bakasabo
There are currently almost 84 vMB of transactions stuck in the mempool with fees of 5 sat/vByte. Between 10-11 AM this morning, transactions that paid 8-10 sat/vByte were confirmed. There were probably a few that paid 7 sat/vByte as well. But even the range of 7 sats has over 30 vMB of transactions waiting to get confirmed, and there are almost 60 vMB where users are paying 6 sats. Considering that each new block removes only about 1 MB from the tip of the mempool as shown on the jochen-hoenicke site, you will have to show plenty of patience before you see the 1st confirmation.

Topic: [Aug 2022] Mempool empty! Use this opportunity to Consolidate your small inputs! - page 46. (Read 88546 times)