I'm still stubbornly using 1sat/byte fees for all consolidations and non-critical txs. My last one happened earlier this month (4th April), and took over 72 hours (7th April when the pool cleared up). I don't mind at all really, since I can fall back on RBF. So, really, is this the best people can do? Throw it all at me, brother. Make me wait 1 week =P
@jackg Missed your post on using Electrum to combine txs from different people @jackg, very, very interesting. I might tap you for more help at some point if I want to attempt.
Topic: [Aug 2022] Mempool empty! Use this opportunity to Consolidate your small inputs! - page 57. (Read 88546 times)
April 11, 2019, 06:49:44 AM
April 11, 2019, 06:23:57 AM
There is only 200 to 300 transactions per block though on average soo this is going to take a while...
Probably one of those pseudo traffic jams where everyone slows down hours after an accident has been cleared.
Probably one of those pseudo traffic jams where everyone slows down hours after an accident has been cleared.
April 10, 2019, 08:50:33 PM
The miners must be enjoying this though... 
indeed, i am loving the high fees , highest since July 2018
true, but it's ranging between 5k to 20k transaction on mempool which is not bad at all, last week we got up to 65k unconfirmed.
April 09, 2019, 02:38:52 PM
People should really stop using the default "best" fee, it only causes fees to quickly spiral up as everybody is competing for the same scarce blockspace.
Pretty much this. If you look at https://jochen-hoenicke.de/queue/#1,2w and compare last week to now - during the spikes last week, there were generally around 15k transactions with fees below 10 sats/byte. During this week's spikes, by the time you get 15k unconfirmed transactions, fees are up at 80-100 sats/byte. It's completely unnecessary, and if everyone manually calculated their fees, they would all end up paying around 80% less and yet still have their transaction confirm in the exact same amount of time. All it takes is a small minority to spiral things out of control, though.On another note, I have some address consolidation I want to do, but I'm in no hurry, so I guess I'll be sitting twiddling my thumbs for a few days/weeks/months until we get back to 1 sat/byte every evening.
April 09, 2019, 10:32:47 AM
1 sat per byte looks possible again!
Electrum was suggesting 5 sats per byte for within 25 blocks.
Electrum was suggesting 5 sats per byte for within 25 blocks.
April 07, 2019, 04:19:35 AM
My issue is apps like mobile electrum which don't allow you to set a fee below 25 sats per byte in these cases because that's still going to push everyone else up.
The miners must be enjoying this though...
And yeah mine was slower as it was a chain of two (I think)
The miners must be enjoying this though...
And yeah mine was slower as it was a chain of two (I think)
April 07, 2019, 03:23:39 AM
1 sat per byte is still possible! My transactions finally confirmed with 11 848 minutes lag. I don't even remember sending them it took so long...
Mine took only 9,229 minutes, just under a week.People should really stop using the default "best" fee, it only causes fees to quickly spiral up as everybody is competing for the same scarce blockspace.
April 07, 2019, 03:18:52 AM
1 sat per byte is still possible! My transactions finally confirmed with 11 848 minutes lag. I don't even remember sending them it took so long...
April 04, 2019, 07:56:25 AM
1 sat per byte doesn't seem possible atm but hopefully mine will confirm. It's been 3/4 days.
I also send a transaction with 13 sats per byte and it took 8 hours to confirm...
I did a 1.5 sat per byte transaction yesterday and it got confirmed after around 10 hours I also send a transaction with 13 sats per byte and it took 8 hours to confirm...
(even non segwit)https://blockstream.info/tx/f97fcb8ab98986bc5d738958725a23e3e10a6f6c08bd8e4ab3309d47ef554b05
If you are not in hurry use 1-3 sat per byte
April 02, 2019, 05:03:36 PM
1 sat per byte doesn't seem possible atm but hopefully mine will confirm. It's been 3/4 days.
I also send a transaction with 13 sats per byte and it took 8 hours to confirm...
I also send a transaction with 13 sats per byte and it took 8 hours to confirm...
March 29, 2019, 02:13:38 PM
Are there are any noticeable difference between consolidate input alone and together with other people?
Yes. I can split the cost of 20 bytes between people (it's about 20 anyway, it's the part that contains information like whether the transaction is an rbf one or not). And I don't have to tell you that's half an output size approximately .It also. Means less data is stored for the transaction in the block (like a lot less data is stored) based on how the merkle root system is utilised.
IMO it's not really noticeable, unless when fee per byte is high. Your idea would be brilliant when Schnorr MuSig is released though
It is kinda noticeable and worth doing. For every transaction consolidated into the same one it reduces the size needed in the block to store the transaction.
So if you put 4 transactions into 1 you save 1536 bytes.... Fees are also no longer low.
March 16, 2019, 01:56:19 PM
If anyone wants to consolidate their inputs into the same transaction then feel free to shoot me a pm.
Are there are any noticeable difference between consolidate input alone and together with other people?
Yes. I can split the cost of 20 bytes between people (it's about 20 anyway, it's the part that contains information like whether the transaction is an rbf one or not). And I don't have to tell you that's half an output size approximately
.It also. Means less data is stored for the transaction in the block (like a lot less data is stored) based on how the merkle root system is utilised.
March 16, 2019, 01:47:13 PM
If anyone wants to consolidate their inputs into the same transaction then feel free to shoot me a pm.
Are there are any noticeable difference between consolidate input alone and together with other people?
I didn't know that possible! So it's like a manual Coinjoin:
FYI, there's a BIP which allow manual CoinJoin, it's called Partially Signed Bitcoin Transaction Format.
More info :
https://github.com/bitcoin/bips/blob/master/bip-0174.mediawiki
https://bitcoinexchangeguide.com/bitcoin-improvement-proposal-bip-174-for-partially-signed-bitcoin-transactions-psbt/
March 16, 2019, 03:56:55 AM
As in there'd be a wallet with a watching only style with all the addresses and you sign individual parts. It's supported in electrum (done it many times with myself). Even segwit and non segwit inputs are happy - I think they are anyway, it's been a while..
I didn't know that possible! So it's like a manual Coinjoin:Quote from: https://en.bitcoin.it/wiki/CoinJoin
The signatures, one per input, inside a transaction are completely independent of each other. This means that it's possible for Bitcoin users to agree on a set of inputs to spend, and a set of outputs to pay to, and then to individually and separately sign a transaction and later merge their signatures.
This would be fun to experiment with (in another topic). March 15, 2019, 03:48:04 PM
If anyone wants to consolidate their inputs into the same transaction then feel free to shoot me a pm.
How would that work?You send me an address you want adding to the file and I make a transaction from it?
As in there'd be a wallet with a watching only style with all the addresses and you sign individual parts. It's supported in electrum (done it many times with myself). Even segwit and non segwit inputs are happy - I think they are anyway, it's been a while..
March 15, 2019, 12:08:13 PM
If anyone wants to consolidate their inputs into the same transaction then feel free to shoot me a pm.
How would that work? March 15, 2019, 11:36:22 AM
1 sat per byte should take less than 6 hours (according to electrum).
Also, I have a 64 input transaction I'm going have to broadcast in about 15 days. If anyone wants to consolidate their inputs into the same transaction then feel free to shoot me a pm.
(also if you're a miner feel free to push it for me for free)
Also, I have a 64 input transaction I'm going have to broadcast in about 15 days. If anyone wants to consolidate their inputs into the same transaction then feel free to shoot me a pm.
(also if you're a miner feel free to push it for me for free
) March 02, 2019, 07:22:47 AM
Can you provide me with any good source which can give better assumption of fees that how much should I put to get fastest confirmation?
See:Fee estimators
1. https://btc.com/stats/unconfirmed-tx
2. https://coinb.in/#fees (lets you manually select inputs and outputs, note that the Recommended Fee (currently 1 Sat/Byte) aims to be included within the next few blocks. You can adjust this if you want priority)
3. https://estimatefee.com (recommends a fee estimate after you set a number of blocks to confirm within -- thanks lite)
1. https://btc.com/stats/unconfirmed-tx
2. https://coinb.in/#fees (lets you manually select inputs and outputs, note that the Recommended Fee (currently 1 Sat/Byte) aims to be included within the next few blocks. You can adjust this if you want priority)
3. https://estimatefee.com (recommends a fee estimate after you set a number of blocks to confirm within -- thanks lite)
Are SegWit addresses going to make any differences?
See:SegWit
User Wind_FURY found a comprehensive overview of Techniques to reduce transaction fees, including the use of SegWit addresses.
User Wind_FURY found a comprehensive overview of Techniques to reduce transaction fees, including the use of SegWit addresses.
February 27, 2019, 06:12:41 PM
Consolidate Bump!
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At some point last year, I saw recommended fees rise to more than 50 sat/byte, when blocks were full during large market fluctuations. Fees are low again! Consolidate your small inputs while you can, low fees won't last forever.
Recently, fees for a fast transaction are around 20 sat/byte. To consolidate, wait until it's lower again
1 sat/byte is still possible.
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At some point last year, I saw recommended fees rise to more than 50 sat/byte, when blocks were full during large market fluctuations. Fees are low again! Consolidate your small inputs while you can, low fees won't last forever.
Recently, fees for a fast transaction are around 20 sat/byte. To consolidate, wait until it's lower again
1 sat/byte is still possible.
Not 20, but I paid more than 40 in a recent transaction as the wallet recommended me 40 sat/byte to get my transaction confirmed in the next block. Can you provide me with any good source which can give better assumption of fees that how much should I put to get fastest confirmation? I don't think wallets are giving accurate fee sizes as it should not be this expensive for me alone. Did anyone else pay such high fees like me during Feb 2019?
February 27, 2019, 05:57:27 PM
Consolidate Bump!
At some point last year, I saw recommended fees rise to more than 50 sat/byte, when blocks were full during large market fluctuations. Fees are low again! Consolidate your small inputs while you can, low fees won't last forever.
Recently, fees for a fast transaction are around 20 sat/byte. To consolidate, wait until it's lower again
1 sat/byte is still possible.
At some point last year, I saw recommended fees rise to more than 50 sat/byte, when blocks were full during large market fluctuations. Fees are low again! Consolidate your small inputs while you can, low fees won't last forever.
Recently, fees for a fast transaction are around 20 sat/byte. To consolidate, wait until it's lower again
1 sat/byte is still possible.
But if you wait for v18, you could use 0.1sat/B... Contrary to your suggestion, i think low fees will remain, or even get lower with the offloading of transactions into Lightning Network.
If you don't mind waiting a few hours, 1sat/B is working just fine. Sometimes you are lucky and get it under 1 hour.
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