Topic: Custom Fee - page 2. (Read 3212 times)

Maybe setting custom fees is too risky, many users will ignore the warning and mess things up by sending txs with ridiculous fees like 50 satoshi fee or so (not per byte, but in total  ). And then complain about their tx never coming through.

But currently, the automatic fees for the Low Prio and Economy settings are really WAY too high. I understand they are dynamic, which is great, but it doesn't reflect the current status of the network and memory pool.

Transactions with 20-30 sat per byte are currently getting confirmed without too much trouble. Typically within 2-3 hours. Transactions with 100 sat per byte or more get confirmed almost INSTANTLY (in first block after sending). Mycelium's lowest setting is currently 225 sat per byte or so, it's really way too high.

Can the dynamic fee algorithm please be updated? Transactions are unnecessarily expensive right now.

I agree. Those options recommended still is expensive. Seems like greediness is all around putting so high fees nowadays after the 200k+ unconfirmed transactions. Now that it lowers so much and as of this moment there are 29k unconfirmed transactions but the fee still is getting expensive.

This custom fee feature should have a warning before using it like it is only recommended by the use of professionals, if not then proceed with the recommended transaction fees or something like that.

30-40 sat/byte is not really recommended, it will take hours and even days if you use this, and I don't think Mycelium will do that tho there transaction fee is totally huge. But I'm always using 'low prio' and it always confirmed early than I expected maybe I just lucky.

And for this feature blockchain,info had this. Which you can set your fee by sat/byte I mean you're the only one who will put manually for the number of sat/byte. But never used it since I didn't use blockchain wallet for sending and not recommended IMO.

Any news on manual custom fees?

Even "low-priority" option is 150 sat/byte, when you can easily send a tx with just 30-40 sat/byte fee and get a confirmation in 6 blocks.

i cant say the best fee for 0.10 btc is 1$ its not normal..without custom fee setting mycelium is bad

Here I am a big fan of the mysellium and also a user of mysellium .
No doubt that we can set our cutom fee in the blockchain during transaction but in the mysellium their is four option for the fee.
If you will use low priority or normal then you will never face any problem of unconfirmed transaction because that is not fix amount of price the wallet of mysellium always set the fee during each transaction according the need of the fee that is necessary to confirm the transaction in 15-30 minutes .
Hope you understand .

Wouldn't this be more of an anti-feature though? Fool proofing the wallet so all transactions sent with it have some chance to sometime confirm is better IMO. More advanced users can use more advanced wallets.

Fees on mycelium is fine as it is, I personally don't see any problem on it, In fact the fixed fees helps to avoid unconfirmed/stuck transactions cause extremely low fees is the number one cause of it . I always use the normal fee and within 2-3 minutes, I can get at least a block confirmed .

@OP, Don't hesitate to use the priority fee, I assure you that It'll be quick .

Yeah, I think OP is aware of that.  I use mycelium as my primary wallet, and I've never really had a problem except when I send it low-priority, and I only did that once.  When I use 'economic', it usually goes through pretty damn quick--even when there's blockchain congestion.  But maybe I just got lucky.

There's already a custom fee function on Mycelium, you can choose from low-prio(lowest fee), economic, normal, and priority(highest fee) but there's no way you can manually edit the fee on your own. So the app choose whats the best fee for normal, depends the bytes of a transaction.

dear MT support !!! please add custom fee function

As what my experience in mycelium 25k sat can have 1 confirmation in just 2-4 minutes, but it will always depends to the network but mostly its only 2-4 minutes and will confirmed in just 15-20 minutes. And only priority is your option to make the TX fee more higher.

Hi Jacee,

no there currently is not.

Currently sending using priority will build a 90 satoshi/byte transaction, which when compared to the fees recommended is on the upper bound of the bracket.
http://imgur.com/jHrhKXd.png

Assuming you build a standard transaction the fee should more then enough to be included with the next block,
please see our article below, which goes into details how the fee is chosen, how transactions are affected by the fee and how you can estimate the confirmation time for a transaction.
http://support.mycelium.com/hc/en-us/articles/207130269

TL;DR:
Android:
If your wallet is up to date it will display the fee paid per byte at the bottom of the transaction details, which can be entered by selecting the Transaction within the Transactions-tab an choosing "Show Details" from the dropdown menu.
You can then check https://bitcoinfees.21.co to see what the current recommended fee is for a transaction to be included in the next block beneath the graphic in bold.

iOS:
Our iOS version does display the fee used broken down to sat/B, you can also go into the transaction details and copy the transaction id by long-pressing the transaction id and search for it, check your transaction id using https://www.smartbit.com.au, it will display the fee used in sat/B, which can also be compared to what https://bitcoinfees.21.co recommends.

ViaBTC is a mining group that will priotize your transaction if you have given it a fee of 0.0001 BTC or higher, you can provide them with your transaction id here https://www.viabtc.com/tools/txaccelerator/

Hope this helps

Is there a way to set a custom fee in my mycelium wallet? I see that blockchain today has so many unconfirmed transactions so I want to send a coin with a higher fee but once I set it to priority the fee was only 25k satoshi. I wat to atleast put 50k as fee to avoid being delayed in confirmation.