Author

Topic: Can I set txconfirmtarget=0 in my bitcoind daemon ? (Read 199 times)

legendary
Activity: 3402
Merit: 5004
https://merel.mobi => buy facemasks with BTC/LTC
8 sat/b should be fine right now.

Johoes mempool (https://core.jochen-hoenicke.de/queue/#2h) only has about ~0.25 MB of transactions at or above 5 sat/b

Still if you are want get the confirmation on the average 30 minutes to 6 hours also you need to get confirmation on 2 blocks. Then how this 5sat/B or 8sat/B will be enough buddy?
I have seen that mempool is empty but required fees is cheap or economy.
You cannot expect the confirmation. 1 blocks confirmation maximum takes 26 days. May he need to wait till that time.

I have a hard time following your question... But just to clarify the current situation:
At THIS moment, my node (running for several weeks) estimates the following fees:
95% chance of getting your transaction into the next 3 blocks (~30 minutes) = 7 satoshi's/byte
95% chance of getting your transaction into the next 6 blocks (~1 hour) = 6 satoshi's/byte
95% chance of getting your transaction into the next 12 blocks (~2 hours) = 4 satoshi's/byte
95% chance of getting your transaction into the next 24 blocks (~4 hours) = 4 satoshi's/byte
hero member
Activity: 924
Merit: 512
8 sat/b should be fine right now.

Johoes mempool (https://core.jochen-hoenicke.de/queue/#2h) only has about ~0.25 MB of transactions at or above 5 sat/b

Still if you are want get the confirmation on the average 30 minutes to 6 hours also you need to get confirmation on 2 blocks. Then how this 5sat/B or 8sat/B will be enough buddy?
I have seen that mempool is empty but required fees is cheap or economy.
You cannot expect the confirmation. 1 blocks confirmation maximum takes 26 days. May he need to wait till that time.
hero member
Activity: 1232
Merit: 738
Mixing reinvented for your privacy | chipmixer.com
you don't need to change -txconfirmtarget option to pay less fee
you can set -paytxfee to your desired tx fee rate in BTC/kB
or alternatively you can just manually set the fee (on gui mode) every time you send out bitcoin
newbie
Activity: 42
Merit: 0
8 sat/b should be fine right now.

Johoes mempool (https://core.jochen-hoenicke.de/queue/#2h) only has about ~0.25 MB of transactions at or above 5 sat/b
legendary
Activity: 3290
Merit: 16489
Thick-Skinned Gang Leader and Golden Feather 2021
Because it seems like txconfirmtarget=1 causes sending with low fees approx 8 sat/B
That fee is low, but not too low[/i].
If I select 2 blocks as confirmation target, Bitcoin Core currently recommends just under 10 sat/B. https://coinb.in/#fees recommends 3 sat/B, and I've used a lower fee than that yesterday.

At the moment, there's no need to pay a higher fee.
staff
Activity: 3374
Merit: 6530
Just writing some code
No. It is impossible to get confirmed in 0 blocks.
jr. member
Activity: 115
Merit: 2
Hi all!

Can I set txconfirmtarget=0 in my bitcoind ?
Because it seems like txconfirmtarget=1 causes sending with low fees approx 8 sat/B
Jump to: