Bitcoin Sending Fee Viabtc Accelerators?

HCP

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Quote from: Lucius on May 04, 2021, 04:56:05 AM

10 sat/byte is the minimum for the ViaBTC accelerator, but why would you pay that minimum if it is enough to pay 6 sat/byte and get the confirmation in the next block?

Insurance against the "next block" not being mined for over an hour... tens of thousands of transactions being dumped into the mempool with fees skyrocketing and your 6 sat/byte transaction ending up 20 megs from the tip. Roll Eyes

And before you claim "oh don't be so dramatic", I have had something like this exact scenario happen before... more than once. Undecided

Sure, it doesn't happen often, but it can happen. If your transaction is somewhat time sensitive... 4 sats/byte extra for a "standard" transaction is only going to cost you an extra 1000 sats...

Hell, it even buys you a little wiggle room just in case fees spike only a little.

Lucius

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Quote from: Poker Player on May 03, 2021, 11:23:56 AM

Hi, thanks for this reply. OP doesn't seem to have read it but I have. But it is not clear to me that you are saying that currently with $1 you would get a confirmation in the next block. In https://privacypros.io/tools/bitcoin-fee-estimator/ it says current fee would be around $20:

The moment I looked at the data it was exactly as I wrote - but some 2 hours later the situation really changed, and we really had to pay above 120 sat/Vbyte for confirmation in the next block. Look at the time of your post and find that time here - > https://jochen-hoenicke.de/queue/#BTC,24h,weight

The situation really changes from hour to hour and at the moment it looks like this.

Quote from: jerry0 on May 03, 2021, 10:41:22 AM

Okay so the people that said you still need to make sure when you send btc with your wallet... you need it minimum l0 sats right? Such as if you do anything less... then using any btc accelerator of any type wont work. Is that correct?
How much btc is that l0 sats exactly? Because doesn't it come to at least 5 dollars still? But the last person mention its l dollar so im confused on this.

10 sat/byte is the minimum for the ViaBTC accelerator, but why would you pay that minimum if it is enough to pay 6 sat/byte and get the confirmation in the next block?

How much is 10 sats in BTC? You've already got the answer to that question - and learn once again not to ask identical questions in more than one topic.

https://bitcointalksearch.org/topic/m.56926362

Poker Player

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Quote from: Lucius on May 03, 2021, 05:14:46 AM

Quote from: jerry0 on May 02, 2021, 11:45:07 PM

So I haven't sent btc in a while. I use a nano ledger s but back then used electrum. I know back then... I believe when i used electrum, I would send with a very low fee. Then I would go to viabtc accelerator site and put my transaction id and then it would do the transaction much faster for free of cost. Now i know fees to send btc is pretty high now.

Your question doesn't make any sense at the moment, because currently the fees for BTC transactions are very low (if they are standard sizes) - and you don't need to use any accelerators - especially Via which will not accept any transaction where the fee is less than 0.0001BTC/KB. Unfortunately, for years you have persistently refused to adopt any knowledge that would allow you to understand and remember some things.

Quote from: jerry0 on May 02, 2021, 11:45:07 PM

So if i want to send btc from my nano ledger s to a site or someone else... do you recommend doing the default fee which seem to cost around 20 dollars now? Or send it with a very low fee... then use a site like viabtc to accelerate it? Or it won't work because too many people use those sites now? Back then i recall you had to do it at the beginning of the hour and they only did x amount of transactions only.

I don't know where you got the information that you have to pay as much as $20 fee, currently for confirmation in the next block the fee is only about $1. Although the chances are small that you will apply what you read, I suggest you take a few minutes of your time (maybe a little more) and read everything at the following link -> https://privacypros.io/tools/bitcoin-fee-estimator/

Hi, thanks for this reply. OP doesn't seem to have read it but I have. But it is not clear to me that you are saying that currently with $1 you would get a confirmation in the next block. In https://privacypros.io/tools/bitcoin-fee-estimator/ it says current fee would be around $20:

Then I thought that since some hours had passed since you wrote the message, maybe the fees had gone up, but it doesn't seem to me that there should be such a huge difference when I check https://mempool.observer/:

Could you tell me what the explanation is and where I am going wrong?

jerry0

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Okay so the people that said you still need to make sure when you send btc with your wallet... you need it minimum l0 sats right? Such as if you do anything less... then using any btc accelerator of any type wont work. Is that correct?

How much btc is that l0 sats exactly? Because doesn't it come to at least 5 dollars still? But the last person mention its l dollar so im confused on this.

Lucius

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Quote from: jerry0 on May 02, 2021, 11:45:07 PM

So I haven't sent btc in a while. I use a nano ledger s but back then used electrum. I know back then... I believe when i used electrum, I would send with a very low fee. Then I would go to viabtc accelerator site and put my transaction id and then it would do the transaction much faster for free of cost. Now i know fees to send btc is pretty high now.

Your question doesn't make any sense at the moment, because currently the fees for BTC transactions are very low (if they are standard sizes) - and you don't need to use any accelerators - especially Via which will not accept any transaction where the fee is less than 0.0001BTC/KB. Unfortunately, for years you have persistently refused to adopt any knowledge that would allow you to understand and remember some things.

Quote from: jerry0 on May 02, 2021, 11:45:07 PM

So if i want to send btc from my nano ledger s to a site or someone else... do you recommend doing the default fee which seem to cost around 20 dollars now? Or send it with a very low fee... then use a site like viabtc to accelerate it? Or it won't work because too many people use those sites now? Back then i recall you had to do it at the beginning of the hour and they only did x amount of transactions only.

I don't know where you got the information that you have to pay as much as $20 fee, currently for confirmation in the next block the fee is only about $1. Although the chances are small that you will apply what you read, I suggest you take a few minutes of your time (maybe a little more) and read everything at the following link -> https://privacypros.io/tools/bitcoin-fee-estimator/

Poker Player

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Quote from: jerry0 on May 02, 2021, 11:45:07 PM

So I haven't sent btc in a while. I use a nano ledger s but back then used electrum. I know back then... I believe when i used electrum, I would send with a very low fee. Then I would go to viabtc accelerator site and put my transaction id and then it would do the transaction much faster for free of cost. Now i know fees to send btc is pretty high now.

So if i want to send btc from my nano ledger s to a site or someone else... do you recommend doing the default fee which seem to cost around 20 dollars now? Or send it with a very low fee... then use a site like viabtc to accelerate it? Or it won't work because too many people use those sites now? Back then i recall you had to do it at the beginning of the hour and they only did x amount of transactions only.

Thanks.

No, not with the default fee, as mk4 says, they are usually too high. You might also want to wait until tx fees are low (usually Sundays are good days) if you are not in a hurry.

I would also check @LoyceV's thread, it was very useful for me in a similar situation:

Fees are low, use this opportunity to Consolidate your small inputs!

As for accelerators, they work depending on the fee. If the fee is too low, the transaction will be stuck anyway.

SquirrelJulietGarden

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Have you tried to use Replace-by-Fee for your stuck transaction? Your transaction need to be an opted-in RBF to use it. If it is not, you only can use Child-Pay-for-Parents or free accelerators.

mk4

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It really depends on you. Do you really need to get the transaction confirmed ASAP? Then maybe overpaying for fees is fine. But if it's a transaction where you don't mind waiting a full day? Definitely set in a very low fee.

P.S. Wallets are notorious for over-demanding for transaction fees, and $20 definitely is too much. As we speak right now, a 20sats/b transaction fee would get your transaction confirmed decently fast(probably in an hour or two, but definitely not instant).

jerry0

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So I haven't sent btc in a while. I use a nano ledger s but back then used electrum. I know back then... I believe when i used electrum, I would send with a very low fee. Then I would go to viabtc accelerator site and put my transaction id and then it would do the transaction much faster for free of cost. Now i know fees to send btc is pretty high now.

So if i want to send btc from my nano ledger s to a site or someone else... do you recommend doing the default fee which seem to cost around 20 dollars now? Or send it with a very low fee... then use a site like viabtc to accelerate it? Or it won't work because too many people use those sites now? Back then i recall you had to do it at the beginning of the hour and they only did x amount of transactions only.

Thanks.

Topic: Bitcoin Sending Fee Viabtc Accelerators? (Read 136 times)