Which da is the best to move your coins?
@tranthidung tried to answer this question with numbers in his thread:
Bitcoin transaction fees (in sats/kb). Sunday, Saturday are best to move BTC
He analysed historical data to give an objective answer to this question slicing the historical fee statistical distribution since bitcoin inception.
He also sliced every single day to discover the best timezone to have your transaction confirmed with as low fees as possible.
Topic: Bitcoin Transaction Fees - Everything in one (Read 1820 times)
The bitcoin halving resulted in increases of transaction fees on bitcoin network. It is better than what occured in 2017 and early 2018 but the fee is still been high, even today. I have a small tip for you (especially for beginners) if you are not familiar with bitcoin transactions and how to choose the right time to move your coins, and to save fees.
Transaction fees often fall in weekends. You can get how it goes by looking at the 30days chart at https://jochen-hoenicke.de/queue/#1,30d
As of writing time of this post, the suggested fee to move your coins is at 106 satoshis/byte, according to https://coinb.in/#fees. Earlier today, the fee was at somewhere around 40 satoshis/byte.
In the wide view (30 days), you can see total unconfirmed transactions began to decrease. If you are not in hurry, I advice you to wait till next 2 weeks, for the next difficulty adjustment to have better transaction fees. There are always chances to move your coins at low fees but if you don't have time to look at the mempool's stats regularly, it is better to wait till next 2 weeks.
Transaction fees often fall in weekends. You can get how it goes by looking at the 30days chart at https://jochen-hoenicke.de/queue/#1,30d
As of writing time of this post, the suggested fee to move your coins is at 106 satoshis/byte, according to https://coinb.in/#fees. Earlier today, the fee was at somewhere around 40 satoshis/byte.
In the wide view (30 days), you can see total unconfirmed transactions began to decrease. If you are not in hurry, I advice you to wait till next 2 weeks, for the next difficulty adjustment to have better transaction fees. There are always chances to move your coins at low fees but if you don't have time to look at the mempool's stats regularly, it is better to wait till next 2 weeks.
I stumbled on this Mempool Observer: https://mempool.observer/#current-mempool
It has some nice visual tools on mempool analysis.
omething new and in development, worth keeping an eye on it.
I appreciated your disclose to that site. I have to observe its developments, upgrades and compare its features with the https://jochen-hoenicke.de/queue/#1,8h. Let's see which features we can get from the new site, that is better than old site.It has some nice visual tools on mempool analysis.
omething new and in development, worth keeping an eye on it.
On the other hand, it is good to have one more site provides stats for mempool. Just in case one site is down, we will still have an alternative ready to use.
ATM, after the spike of bitcoin price and fee, now we can move or consolidate bitcoin at 1 satoshi/ byte, according to: https://coinb.in/#fees
I stumbled on this Mempool Observer: https://mempool.observer/#current-mempool
It has some nice visual tools on mempool analysis.
omething new and in development, worth keeping an eye on it.
It has some nice visual tools on mempool analysis.
omething new and in development, worth keeping an eye on it.
The recommended fee is temporarily at 1 satoshi / byte: https://coinb.in/#fees
Today you have good time to consolidate your coins, at 1 satoshi/byte but if you want to move your coins faster (don't want to wait for too long) and still with cheap fee, you can set the fee at 2 or 3 satoshis/ byte.
Today you have good time to consolidate your coins, at 1 satoshi/byte but if you want to move your coins faster (don't want to wait for too long) and still with cheap fee, you can set the fee at 2 or 3 satoshis/ byte.
Bitcoiners turned out to be snipers. 
70% of Bitcoin spends use highest precision of 1 Sat
70% of Bitcoin spends use highest precision of 1 Sat
The recommended fee is temporarily at 1 satoshi / byte: https://coinb.in/#fees
Today you have good time to consolidate your coins, at 1 satoshi/byte but if you want to move your coins faster and with cheap fee, you can set the fee at 2 or 3 satoshis/ byte.
Today you have good time to consolidate your coins, at 1 satoshi/byte but if you want to move your coins faster and with cheap fee, you can set the fee at 2 or 3 satoshis/ byte.
Bitcoiners turned out to be snipers.
70% of Bitcoin spends use highest precision of 1 Sat
Hello.
Bitmex just launched an analytical website, and one of the pages is dedicated to the fees:
Fee Estimation Dashboard
There are a lot of additional table and informations you could include in your OP.
Hope it helps.
Bitmex just launched an analytical website, and one of the pages is dedicated to the fees:
Fee Estimation Dashboard
There are a lot of additional table and informations you could include in your OP.
Hope it helps.
Of course if you click on the actual website the above image is continuosly updated. For example now the higher fees is around 30 sats/b.
I provided a static image because it was a simple reference here on the post.
I check the site again and see it. Thank you, again, for the very quick and detailed reply.I provided a static image because it was a simple reference here on the post.
I also updated OP with that site and a short explanation.
It is a very cool site to check estimate fees and correspondent waiting time to get confirmation. Thanks for bringing it here.
Yes, It's a website I usually take advantage of, I find very intuitive. Sorry if I didn't bring it earlier, but I didn't notice it wasn't inlcuded.I have a question, if you know it, please help:
That site only has an image that you posted above. I don't know that details are dynamically updated or it is a fixed one.
Of course if you click on the actual website the above image is continuosly updated. For example now the higher fees is around 30 sats/b. That site only has an image that you posted above. I don't know that details are dynamically updated or it is a fixed one.
I provided a static image because it was a simple reference here on the post.
It is a very cool site to check estimate fees and correspondent waiting time to get confirmation. Thanks for bringing it here.
I have a question, if you know it, please help:
That site only has an image that you posted above. I don't know that details are dynamically updated or it is a fixed one.
As of writing time, the transaction fee stays at 19 satoshis/ byte (according to https://coinb.in/#fees), but remember you can set your fee at 1 satoshi/ byte but you have to wait a bit longer for confirmations.
But people have to aware of potential issues if their transactions don't get confirmations, and they need to boost their transactions faster. The option Replace-By-Fee in your wallet should be chosen. Details in the above post.
I have a question, if you know it, please help:
That site only has an image that you posted above. I don't know that details are dynamically updated or it is a fixed one.
As of writing time, the transaction fee stays at 19 satoshis/ byte (according to https://coinb.in/#fees), but remember you can set your fee at 1 satoshi/ byte but you have to wait a bit longer for confirmations.
But people have to aware of potential issues if their transactions don't get confirmations, and they need to boost their transactions faster. The option Replace-By-Fee in your wallet should be chosen. Details in the above post.
A very nice website for checking bitcoin fees:
whatthefee.io
It give a probabilistic estimate of the block inclusion (expressed in time) given the fees paid.
Example:
Q:I want a 95% probability of inclusion in the next 3 blocks, which level shall I pay?
A:20.1 sat/b
I want to pay 1 sat/b, how long will it take to be included with 95% probability?
A: 8 hours
whatthefee.io
It give a probabilistic estimate of the block inclusion (expressed in time) given the fees paid.
Example:
Q:I want a 95% probability of inclusion in the next 3 blocks, which level shall I pay?
A:20.1 sat/b
I want to pay 1 sat/b, how long will it take to be included with 95% probability?
A: 8 hours
Occasionally, I saw the article, from which I knew new valuable information, which I will share with you now.
If you set your transaction fees too low, and your transaction does not get confirmation from miners. You will be able to redo your transaction after 72 hours or 2 weeks.
Remember to choose the option: Enable Replace By Fee in your wallet.
Anyway, if you want to move your coins at low fees, choose 1 or 2 satoshis per byte is cheap enough, and before doing this you should check estimated transaction fees at the time you want to move your coins. If estimated/ suggested transaction fee is 1 or 2 satoshis/ byte, it is good time for you to choose low fees.
https://hackernoon.com/holy-cow-i-sent-a-bitcoin-transaction-with-too-low-fees-are-my-coins-lost-forever-7a865e2e45ba
If you set your transaction fees too low, and your transaction does not get confirmation from miners. You will be able to redo your transaction after 72 hours or 2 weeks.
Remember to choose the option: Enable Replace By Fee in your wallet.
Anyway, if you want to move your coins at low fees, choose 1 or 2 satoshis per byte is cheap enough, and before doing this you should check estimated transaction fees at the time you want to move your coins. If estimated/ suggested transaction fee is 1 or 2 satoshis/ byte, it is good time for you to choose low fees.
https://hackernoon.com/holy-cow-i-sent-a-bitcoin-transaction-with-too-low-fees-are-my-coins-lost-forever-7a865e2e45ba
Bitcoin transation fee is really expensive and this usaually happens when the bitcoin network gets congested
What you said is about bitcoin network and bitcoin transaction fees back in 2017 and early of 2018. Nowadays, transaction fees are very cheap, and network operates smoothly. I have never seen network congestion for months, so really don't understand why you said like this.Temporarily, fees stays at 1 satoshi/ byte, that is very cheap.
https://coinb.in/#fees
As far as I know Bitcoin does apply in some cases such as lower fees Example Segwit other hands higher fee applicable.
I hope likely electrum is the best free desktop wallet probable easily handled.
Quote
Segwit Benefits
SegWit improves Bitcoin and fixes a number of bugs. The main features of Segwit are described in detail below.
Capacity Increase
Segwit doubled the capacity of the Bitcoin network.
A lot of people are claiming that SegWit did not increase the block size. It’s very easy to see that, yes, SegWit was a block size increase!
Here, for example, we can see a 2,177 KB (2.17 MB) Bitcoin block mined in January 2018.
SegWit improves Bitcoin and fixes a number of bugs. The main features of Segwit are described in detail below.
Capacity Increase
Segwit doubled the capacity of the Bitcoin network.
A lot of people are claiming that SegWit did not increase the block size. It’s very easy to see that, yes, SegWit was a block size increase!
Here, for example, we can see a 2,177 KB (2.17 MB) Bitcoin block mined in January 2018.
I hope likely electrum is the best free desktop wallet probable easily handled.
Nice, informative and well written thread.
I just saw this tweet and I think it could be a nice addition to your thread.
https://twitter.com/nic__carter/status/1165763937100599297
Sometimes it is nice to go back to the basics.
I just saw this tweet and I think it could be a nice addition to your thread.
https://twitter.com/nic__carter/status/1165763937100599297
Sometimes it is nice to go back to the basics.
Thanks for providing all this great information.
Is there any website that is sending notifications or emails when bitcoin transaction fees are getting high?
Is there any website that is sending notifications or emails when bitcoin transaction fees are getting high?
Hey hd49728 - maybe you can also post a reference link to LoyceV's - [AUG 2019] Fees are low, use this opportunity to Consolidate your small inputs!
You likely missed it. I posted it in OP, with first version of this thread, or in very first editing times. 
Oh man, sorry about that.... I apologized....
By the way, I checked and saw transaction fees temporarily fell to 1 Satoshi/ byte. Now, everyone, let's move your coins or consolidate them at cheap fees. Hurry up.
At the moment, transaction fees fell to 1 sat/byte. Fees for transaction with 1 input (148 bytes), 1 outputs (34 bytes) costs only 192 satoshis.
It is a best time to consolidate your bitcoin leftovers, but it doesn't last for too long (when bitcoin falls deeper, people will fall into panic sellings, and fees will rise again). Hurry up.
Please check more there:
https://tradeblock.com/bitcoin/historical/6h-f-tfee_blk_avg-01051
https://coinb.in/#fees
At the moment, transaction fees rose to 34 sat/byte. Fees for transaction with 1 input (148 bytes), 1 outputs (34 bytes) costs only 6528 satoshis.
It is surely not a best time to consolidate your bitcoin leftovers. Earlier today, I saw fees rocketed to 54 satoshis/ byte, just around 12 hours ago.
Please check more there:
https://tradeblock.com/bitcoin/historical/6h-f-tfee_blk_avg-01051
https://coinb.in/#fees
At the moment, despite the fact that people go crazy when bitcoin dumped deeply, bitcoin transaction fees fell to 1 sat/byte. Fees for transaction with 1 input (148 bytes), 1 outputs (34 bytes) costs only 192 satoshis.
It is a best time to consolidate your bitcoin leftovers, but it doesn't last for too long. Hurry up.
Please check more there:
https://tradeblock.com/bitcoin/historical/6h-f-tfee_blk_avg-01051
https://coinb.in/#fees
By now, we have five continuous days (since August 15th), we have chance to move bitcoin at 1 sat/byte. Fees for transaction with 1 input (148 bytes), 1 outputs (34 bytes) costs only 192 satoshis.
It is a best time to consolidate your bitcoin leftovers, but it doesn't last for too long. Hurry up.
Please check more there:
https://tradeblock.com/bitcoin/historical/6h-f-tfee_blk_avg-01051
https://coinb.in/#fees
Hey hd49728 - maybe you can also post a reference link to LoyceV's - [AUG 2019] Fees are low, use this opportunity to Consolidate your small inputs!
You likely missed it. I posted it in OP, with first version of this thread, or in very first editing times. Oh man, sorry about that.... I apologized....
Hey hd49728 - maybe you can also post a reference link to LoyceV's - [AUG 2019] Fees are low, use this opportunity to Consolidate your small inputs!
You likely missed it. I posted it in OP, with first version of this thread, or in very first editing times. Jump to: