[Aug 2022] Mempool empty! Use this opportunity to Consolidate your small inputs! - page 53.

CryptoBuzzerd

jr. member

Activity: 188

Merit: 2

In Blockchain we trust!

Quote from: Stedsm on October 30, 2019, 06:03:52 PM

Quote from: ?? on ??

--snip--

1 sat/byte is still possible!

I'm trying to get an exact time duration that it will take in order to confirm that transaction (at least an average would do) that if I send 1 sat/byte, how long do I need to wait before I can get it included in a block? Many explorers are now being proven wrong by the miners considering a lot of fluctuations in the minimum fee structure due to the market price volatility.

last days I have sent 1 TX with 1sat/byte, it was confirmed during 24 hours

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: Stedsm on October 30, 2019, 06:03:52 PM

Many explorers are now being proven wrong by the miners considering a lot of fluctuations in the minimum fee structure due to the market price volatility.

I now mostly use Bitcoin Core's estimate:
Image loading...

Currently, 4 hour(s) is the lowest estimate for 1 sat/byte. I think this is based on the fees seen in the past 4 hours. If fees suddenly go up, it can take much longer. Fees are usually lowest in the weekend, so if for instance you make this transaction right before the Monday traders wake up, it could take much longer.

jackg

copper member

Activity: 2856

Merit: 3071

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

Under current mempool analysis, it seems that 1 sat per byte puts you less than 1mb from the tip of the mempool (according to electrum). This means it should currently take 10 minutes.

I'd personally suggest it will take a maximum of about 6 hours on normal blockchain bloat (can be 24 sometimes). It should almost definitely confirm within a week though unless wer see huge spikes in the number of transactions.

It's hard to give accurate estimates as so much can change...

Stedsm

legendary

Activity: 3052

Merit: 1273

Quote from: ?? on ??

--snip--

1 sat/byte is still possible!

I'm trying to get an exact time duration that it will take in order to confirm that transaction (at least an average would do) that if I send 1 sat/byte, how long do I need to wait before I can get it included in a block? Many explorers are now being proven wrong by the miners considering a lot of fluctuations in the minimum fee structure due to the market price volatility.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: Dabs on October 24, 2019, 10:12:31 AM

Force of habit, Sorry! In fact I keep using their .info domain TLD extension. Still using core wallet and had it set to 1 sat too, so I guess that worked. Slowly weening my way to Electrum ... but since I still have my full node, I might run my own Electrum server.

Got a list of other block explorers that are "good"?

don't worry i do that regularly myself too. specially since when i type in my address bar my history brings it up Tongue

as for other explorers, the best one is http://blockchair.com/ at the moment that has a ton of features specially if you are interested in sorting and analyzing the blockchain data in your browser.
https://btc.com/ that i mentioned above is decent since it has all those different size values.
there is also https://live.blockcypher.com/ that has a bunch of other altcoins including Grin
there is https://www.blockonomics.co/ which (i think) has the only API that supports SegWit
https://www.smartbit.com.au/ also has some nice features such as exploring OP_Return outputs

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

Force of habit, Sorry! In fact I keep using their .info domain TLD extension. Still using core wallet and had it set to 1 sat too, so I guess that worked. Slowly weening my way to Electrum ... but since I still have my full node, I might run my own Electrum server.

Got a list of other block explorers that are "good"?

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: Dabs on October 23, 2019, 03:19:17 PM

Quote

Summary
Size    386 (bytes)
Weight    896
Received Time    2019-10-23 12:25:57
Lock Time    Block: 600699
Included In Blocks    600731 ( 2019-10-23 16:35:47 + 250 minutes )

Inputs and Outputs
Total Input    xxxxx.xxxxxxxx BTC
Total Output    xxxxx.xxxxxxxx BTC
Fees    0.00000224 BTC
Fee per byte    0.58 sat/B
Fee per weight unit    0.25 sat/WU

Below 1 sat is possible! Wait only 32 blocks.

you should seriously stop using blockchain.com explorer (or any others that are similar) to look at things. it is literary the worst explorer out there at this point and they refuse to fix their bugs although their platform is filled with them.

just as we no longer have "block size" and instead have "block weight", we no longer have transaction size and instead we have "virtual transaction size" and fees are calculated based on that.
your virtual tx size is your transaction weight (896) divided by 4 and rounded up = 224 which makes your fee 1 satoshi/vb

use https://btc.com explorer to see these numbers.

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

Quote

Summary
Size    386 (bytes)
Weight    896
Received Time    2019-10-23 12:25:57
Lock Time    Block: 600699
Included In Blocks    600731 ( 2019-10-23 16:35:47 + 250 minutes )

Inputs and Outputs
Total Input    xxxxx.xxxxxxxx BTC
Total Output    xxxxx.xxxxxxxx BTC
Fees    0.00000224 BTC
Fee per byte    0.58 sat/B
Fee per weight unit    0.25 sat/WU

Below 1 sat is possible! Wait only 32 blocks.

jackg

copper member

Activity: 2856

Merit: 3071

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

Quote from: naska21 on October 22, 2019, 11:11:21 AM

Please, tell me if I accidentally put into consolidation list those inputs which may be pertaining to the "dust attack", could that threaten my privacy?

Yes? If you consolidate small inputs you don't recognise then they couldve been sent to you as a dust attack.

Most wallets will let you pick which inputs you want to consolidate with coin control features (and those that don't may have a way of exporting seeds and keys to electrum of bitcoin core for example if you're confident doing it).

If you have enough dust you might want to donate it to someone who doesn't care about dust attacks or just send the funds to another key you own on a separate wallet and leave them there as there's no reason why you shouldn't use them if they're worth using (you could store it for when you want to buy something with it for example if you got like 0.0001-0.001 from dust attacks - I don't know whether there's a chance they can get multiple addresses from the same wallet).

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: naska21 on October 22, 2019, 11:11:21 AM

Please, tell me if I accidentally put into consolidation list those inputs which may be pertaining to the "dust attack", could that threaten my privacy?

Yes!
You should use "coin control" to manually select which inputs to use to prevent this. Or (depending on your wallet) "freeze" the dust inputs.

naska21

hero member

Activity: 1358

Merit: 635

Quote from: ?? on ??

snip
1 sat/byte is still possible!

Please, tell me if I accidentally put into consolidation list those inputs which may be pertaining to the "dust attack", could that threaten my privacy?

pooya87

legendary

Activity: 3472

Merit: 10611

you just got unlucky and created your transaction somewhere around the first yellow circle when fees were a little above 1 s/b but not that much then mempool started to grow. you specifically got unlucky when the fees dropped but not down to 1 s/b (down to 1.093) then it grew even more until the second yellow circle when your tx was mined

Quote from: Dabs on October 17, 2019, 03:13:45 PM

When does it confirm?

that would be a gambling game because it is not possible to predict it since you would be predicting the activity of thousands of people who are transferring bitcoin every minute.

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

Quote from: jackg on October 17, 2019, 11:32:26 AM

@dabs, if you're not in a rush I'd suggest just leaving it to its thing...

According to electrum, it should take 1.1 sats per byte to confirm in 5 hours (25 blocks) so give it up to about 8 hours and it should confirm.

jackg

copper member

Activity: 2856

Merit: 3071

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

@dabs, if you're not in a rush I'd suggest just leaving it to its thing...

According to electrum, it should take 1.1 sats per byte to confirm in 5 hours (25 blocks) so give it up to about 8 hours and it should confirm.

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

Just did a transaction a couple hours ago, and paid 1/sat. Still not confirmed, but monitoring it, it should confirm by the end of the day.

Quote

Summary
Size    510 (bytes)
Weight    1071
Received Time    2019-10-17 12:23:14
Lock Time    Block: 599766

Inputs and Outputs
Fees    0.00000268 BTC
Fee per byte    0.525 sat/B
Fee per weight unit    0.25 sat/WU

So it's even less than 1 sat/B ... all inputs are segwit. May have to wait a little longer than I expected. Hopefully 24 hours should be enough.

Pmalek

legendary

Activity: 2730

Merit: 7065

At the moment 10-12 Sat/Byte would be needed for a faster confirmation but it is getting back to lower fees slowly. 20 Sat/Byte was suggested just 30 minutes ago and the mempool is getting emptier since then.

jackg

copper member

Activity: 2856

Merit: 3071

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

I sent a 2 Sat per byte transaction a couple of days ago that seemed to confirm in the next block!

Fees are definitely very favourable atm... Don't miss your opportunity to consolidate.

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: jackg on September 27, 2019, 12:47:25 PM

The weekends are a good time to get your transactions confirmed if you send them at a low fee (you're better off starting at a low fee and then bumping it up or cpfp if you're in a rush).

I noticed there's always a huge spike in transactions during daytime in the US too. Apparently this is due to BitMEX's "comically unoptimized" once-daily withdrawal system.

If you can wait until evening or overnight (US time) for confirmation, it's consistently cheaper. Getting 1 satoshi/byte transactions confirmed within a day has been consistently easy for the past couple months.

jackg

copper member

Activity: 2856

Merit: 3071

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

Can you get mempool estimates in core? Electrum let's you pick how far from the tip you want a transaction to be. If you need it confirmed quickly, it might be more helpful that cores default estimate which takes in the past couple of blocks over a few days.

The weekends are a good time to get your transactions confirmed if you send them at a low fee (you're better off starting at a low fee and then bumping it up or cpfp if you're in a rush). I think you pay less and get it confirmed faster that way (or you can send with a low fee to other places where they'll spend your coins with a high fee)...

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

I managed to use low fees too recently. If I'm not in a hurry and can wait 4 hours or more, I just set the fee lower. I look at the https://bitcoinfees.earn.com/ or other fee estimator websites and not rely on Core's estimate.

They also have an api if you don't want to look at all the graphs. https://bitcoinfees.earn.com/api/v1/fees/recommended

It's a little bit high at the moment with 1 hour fee = 20 sats, but during certain times (maybe evening in some countries or everyone is sleeping) the fees drop to 2 sats.

No matter what, this is still much faster than waiting for a check to clear, and if you're doing the consolidating you know there is no other attempt to double spend it.

Topic: [Aug 2022] Mempool empty! Use this opportunity to Consolidate your small inputs! - page 53. (Read 88277 times)