Topic: How can we fasten the transaction of payment in BITCOIN paying high fees? - page 2. (Read 1277 times)

Paying the highest possible fees would surely fasten up your transaction but same as member mentioned above it doesnt even guarantee you on which block you are included but  its still an advantage though if you are on a hurry then putting high fee would be recommended but if youre not in a hurry better to use up free or small fees.The advantage of high fees which really prioritize your transactions.

there are no guarantee's.

put it this way. imagine there are only ~2500 seats on a train.. 5000 passengers pay 15cents a ticket.
only 2500 get on the train. and 2500 left waiting at the platform for the next train in ~10 minutes.

however another 5000 people walk onto the platform. see how crowded it is so they pay 16cents.
only 2500 paying 16cents get on the next train. leaving 2500@15cents and 2500 at@16cents on the platform

however another 5000 people walk onto the platform. see how crowded it is so they pay 17cents.
only 2500 paying 17cents get on the next train. leaving 2500@15cents, 2500 at@16cents and 2500 at@17cents on the platform

however another 5000 people walk onto the platform. see how crowded it is so they pay 18cents.
only 2500 paying 18cents get on the next train. leaving 2500@15cents, 2500 at@16cents, 2500 at@17cents and 2500 at@18cents on the platform

paying 15cents which is top rate at train one does not give you any 'first in first on' privileged priority due to when they got on the platform or even asked "urgent need step forward, dont mind waiting step back".

its an auction.. highest payer wins a seat.
the issue is that people are all seeing these 'recommended fee's' and 'estimated fee's and they are then shooting themselves in the foot.
everyone ends up paying more than the last,

if everyone is forced to pay xxcents(many web wallets).. then some people that didnt mind waiting get on, while some that need to get on may not. because priority is not recognised in anyway. it just ends up as everyone pay more rule
dev's have not acted as devs to actually code "priority" properly. they acted more like bankers letting fee's rule. but then acted like bankers by trying to get everyone to pay a fee no matter how happy they are about waiting

yes you can just pay less manually.. but the old priority structure and many methods of coding a new priority structure have been avoided. and its just a bidding war

being fair or not is an endless argument without any result.
but it happens because blocks are full and there is only finite number of transactions that can be included in blocks each day so this creates some sort of competition that whoever pays the higher fee has the higher priority because miners prefer earning more at the moment.

It is not guarenteed that if you broadcast your transaction with a high fee you will get it included at the next block.

At the last months bitcoin became more popular so it is pretty hard to have you transaction included in the 1st block that comes out unless you include a very high fee.

You could have try with coinbase, when compare with blockchain, minimum fees from the coinbase is very less and transferring through blocks and transaction time all seems to similar as I noticed. If you pay the high fees it might go faster than regular one but not sure.

To get a confirmation, your transaction has to be included into a block. Unfortunately, blocks aren't fixed at 10 minutes. Varience can cause the blocks to be up to several hours apart and your transaction will not have one confirmation until then no matter how much fees you paid.

Fees acts as a deterrence against spam and as an income for miners. If the fees doesn't exist, spam attacks would take little to no cost and miners would not have any income after the block reward becomes 0.

Miners, although majority choose to queue transactions by fees/size, they can choose to exclude certain transactions even though they may have high fees.

Using higher fees does not guarantee next block inclusion of your transaction.

If you use the recommended fee, you are doing probably the best you can to get it included the fastest as possible.

Unfortunately, sometimes to backlog increases due to spam transactions or slow block finds which may slow down when your transaction gets confirmed.

It seems that even you pay fees when transacting or sending through blockchain with bitcoin, you still have to wait for a mean time or maybe a long period of time, but there is a free of charge in sending bitcoin and when you look at the blockchain you ride along with another sender/hash that is paying a fee, is it unfair or there is a logically explanation behind it?.