If you use your own wallet to send out bitcoin you can always choose how much you spend on fees, if you need it fast you better get bigger fees, or if you just want to move your balance from one wallet to another spend little fee is fine but that maybe takes 2-5 hours to complete. Anyway its always on us the user, I don't mind spend extra money for fees if I need something to be paid quickly.
That is right,cost of fee was depend only for the person who actually uses it,spending money in fees of every transaction that we make was really depend on us,we cant blame the blockchain because it really was it neccessarily to pay them for our transaction. 
Topic: Do not overpay transaction fees anymore! (Read 238 times)
Third-party websites displaying fee information is only good for a couple of weeks until newbies get a hang of how fees work and how much do they really need to pay for a transaction. A great wallet can also help choose fees, like what Electrum does and can let a user decide and have a rough idea on how long would a confirmation be marked on their transaction depending on the fees in the network at a given time.
These numbers may work when making your own transaction. But the logic of the exchange is not like this. There is a certain transaction fee in exchange. ANd you have to use it.
I dont really rely on estimation website, I usually use the recommended fee by my wallet. I think it is better than by opening fee estimation website whenever I want to make transaction. I used to use bitcoinfees.earn previously but I do not really use it anymore since wallet fee recommendation is better imho.
Up for this, I am not an expert in crypto and not a newbie as well. But I think this is not really a priority for newbies because they should be looking for reliable and secured wallet with a preferred fee, than prioritizing low fee cost. It will be too complicated for newbies to understand about fees and how to be able to save fees.
Basically, this is the tool to recommend to newcomers when they ask questions about fees. Existing tools are either too complex with too many numbers or have a tendency to overestimate fees.
newcomers MUST NOT use a website to estimate their fees. they must always choose a good wallet and trust that it gives them the best fee suggestions.
and what you call complication is a requirement because it is complicated to analyze the memory pool and come up with the appropriate fee estimation.
additionally your website is not that accurate either. it also is overestimating the fees. for instance it currently suggest 51 satoshi/vbyte takes 2 hours whereas that price is around the level where you would get a high priority transaction and get confirmed within next block (hence ~10 min) and the suggested 89 for high priority is already way too much.
also you seem to be using virtual bytes for size but limit the max to 1 MB (if i understand your tables correctly!) which is false because the maximum block weight is 4 MB.
This.
The fee depends on how many inputs you are using. If you are trying to send a transaction that is made up of dust, it will be expensive.
Basically, this is the tool to recommend to newcomers when they ask questions about fees. Existing tools are either too complex with too many numbers or have a tendency to overestimate fees.
newcomers MUST NOT use a website to estimate their fees. they must always choose a good wallet and trust that it gives them the best fee suggestions.
and what you call complication is a requirement because it is complicated to analyze the memory pool and come up with the appropriate fee estimation.
additionally your website is not that accurate either. it also is overestimating the fees. for instance it currently suggest 51 satoshi/vbyte takes 2 hours whereas that price is around the level where you would get a high priority transaction and get confirmed within next block (hence ~10 min) and the suggested 89 for high priority is already way too much.
also you seem to be using virtual bytes for size but limit the max to 1 MB (if i understand your tables correctly!) which is false because the maximum block weight is 4 MB.
This.
The fee depends on how many inputs you are using. If you are trying to send a transaction that is made up of dust, it will be expensive.
This is a good tool to give you the best fee at the time to get your transaction confirmed -
https://btc.com/stats/unconfirmed-tx
https://btc.com/stats/unconfirmed-tx
i'd say this site you introduced here is also pretty complex because it is also giving a lot of additional information that can make it complicated for a newcomer just like any other websites out there that are doing fee recommendations.
in the end a little bit of complication is not a bad thing because anybody who visits these sites must already know some basic things or at least be willing to learn how to use the "data" provided by these sites. otherwise they should just let their wallets decide.
in the end a little bit of complication is not a bad thing because anybody who visits these sites must already know some basic things or at least be willing to learn how to use the "data" provided by these sites. otherwise they should just let their wallets decide.
In most cases i just go with the recommended fees from the wallet especially when the transaction is not urgent, like yesterday i was sending btc to someone and i used the recommended fees from the wallet without making any adjustments but since my transaction was a bit urgent i was worried it will take a while before it went through, fortunately it didn't take that long. If am transferring to exchange i really don't mind how long coz i know it will be confirm eventually, I think most wallet are already taking care of that so not very necessary to use the website.
I don't really see the point in saving a few satoshis especially since Bitcoin transaction fees are much lower than what they were previously which is why I prefer default TX fees instead of manually lowering it or raising it.
This is useful when the TX fees rise drastically though which might happen again sometime next year.
This is useful when the TX fees rise drastically though which might happen again sometime next year.
I dont really rely on estimation website, I usually use the recommended fee by my wallet. I think it is better than by opening fee estimation website whenever I want to make transaction. I used to use bitcoinfees.earn previously but I do not really use it anymore since wallet fee recommendation is better imho.
Hello OP, I think you have to move this thread in project development section, better place to discuss about your service.
Overally your service is just analogue of current available ones. If you want to just keep website live ans it's created for non profit interests, then great work but for profit, better to add unique questions. For example reminder for users when overall btc fee decreases or rises significantly.
I doubt this is OP's website, he only made this thread to share it. The user who made it is mentioned below the page.Overally your service is just analogue of current available ones. If you want to just keep website live ans it's created for non profit interests, then great work but for profit, better to add unique questions. For example reminder for users when overall btc fee decreases or rises significantly.
I will give it a tryer and i hope it turns out as you have clearly described here as I am so sick and tired of these high transaction fees i get to pay for every now and then.
Be careful when using this estimator because their first and second max delay(30min-1hr) on standard and cautious is encouraging you to overpay fees.I never overpay I always underpay, I don't mind waiting for hours to be honest, and so far usually when I need something urgent then I allow the wallet to estimate the time for me (but as you say for newcomers it can be difficult to see if the wallet is estimating correctly). In my experience wallet estimation is the one causing you to overpay!
I also do the same pay as small as possible because sometimes it gets confirmed within the next couple of blocks.
There is many website that offer estimation fee like this
But i still don't use and i still prefer overpay the transaction fee because the higher the fee the higher the chance for transaction got accepted faster
But i still don't use and i still prefer overpay the transaction fee because the higher the fee the higher the chance for transaction got accepted faster
I never overpay I always underpay, I don't mind waiting for hours to be honest, and so far usually when I need something urgent then I allow the wallet to estimate the time for me (but as you say for newcomers it can be difficult to see if the wallet is estimating correctly). In my experience wallet estimation is the one causing you to overpay!
Existing tools are either too complex with too many numbers or have a tendency to overestimate fees.
I believe they were created as to provide precision and accuracy to calculate the fees 
If you use your own wallet to send out bitcoin you can always choose how much you spend on fees, if you need it fast you better get bigger fees, or if you just want to move your balance from one wallet to another spend little fee is fine but that maybe takes 2-5 hours to complete. Anyway its always on us the user, I don't mind spend extra money for fees if I need something to be paid quickly.
Basically, this is the tool to recommend to newcomers when they ask questions about fees. Existing tools are either too complex with too many numbers or have a tendency to overestimate fees.
newcomers MUST NOT use a website to estimate their fees. they must always choose a good wallet and trust that it gives them the best fee suggestions.
and what you call complication is a requirement because it is complicated to analyze the memory pool and come up with the appropriate fee estimation.
additionally your website is not that accurate either. it also is overestimating the fees. for instance it currently suggest 51 satoshi/vbyte takes 2 hours whereas that price is around the level where you would get a high priority transaction and get confirmed within next block (hence ~10 min) and the suggested 89 for high priority is already way too much.
also you seem to be using virtual bytes for size but limit the max to 1 MB (if i understand your tables correctly!) which is false because the maximum block weight is 4 MB.
I will give it a tryer and i hope it turns out as you have clearly described here as I am so sick and tired of these high transaction fees i get to pay for every now and then.
Hello OP, I think you have to move this thread in project development section, better place to discuss about your service.
Overally your service is just analogue of current available ones. If you want to just keep website live ans it's created for non profit interests, then great work but for profit, better to add unique questions. For example reminder for users when overall btc fee decreases or rises significantly.
Overally your service is just analogue of current available ones. If you want to just keep website live ans it's created for non profit interests, then great work but for profit, better to add unique questions. For example reminder for users when overall btc fee decreases or rises significantly.
I'd like to show you that site: https://bitcoiner.live/
Basically, this is the tool to recommend to newcomers when they ask questions about fees. Existing tools are either too complex with too many numbers or have a tendency to overestimate fees.
Optionally, you can select any of 3 estimation "profiles":
standard: is the default one and aims to strike a good balance between cost and accuracy.
optimistic: slightly underestimates if your objective is fee minimization before accuracy. It might work out if the next blocks are pretty lucky, but it might take longer otherwise.
cautious: on the other hand is pretty greedy, use it only if you really want to be sure to target the next blocks or so even if the next blocks turn out unlucky.
Basically, this is the tool to recommend to newcomers when they ask questions about fees. Existing tools are either too complex with too many numbers or have a tendency to overestimate fees.
Optionally, you can select any of 3 estimation "profiles":
standard: is the default one and aims to strike a good balance between cost and accuracy.
optimistic: slightly underestimates if your objective is fee minimization before accuracy. It might work out if the next blocks are pretty lucky, but it might take longer otherwise.
cautious: on the other hand is pretty greedy, use it only if you really want to be sure to target the next blocks or so even if the next blocks turn out unlucky.
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