Topic: How Much Fee is Too Low for Bitcoin Now? (Read 358 times)

Is sat/vb the same as sat/b? Atomic wallet uses sat/bite but what I see at Mempool is sat/vB.

That is the minimum fee for the transactions to be relayed by the default Bitcoin Core instance. This is consistent with my node as well. None of the transactions are being bumped out of the mempool because the current mempool size is well below the limit for the default implementation. 1sat/vbyte is the minimum relay fee provided that there is still space in the mempool.

Transactions of around 3 sat/vByte wouldn't get purged right now. They wouldn't even get purged at 2 sats currently. I am not sure what is going on with Mempool.space. They used to show information about their purging rate. They seem to have removed that or replaced it with a line saying, "Minimum fee."

I'll be damned if this is true but, for the most part, it gets purged?

Anything less than 8 sats/vbyte I guess.

A lot of the time, you would get a next-block confirmation at that rate. Even transactions as low as 3.2 and 3.3 sats/vByte were confirmed in the last two days.

Right now, even 4 or 5 sat/vbyte may be good enough to get your bitcoin transactions confirmed. Don't know how many days will this last for but this is a really low fee something which is very rare to see these days.

He is active on the forum but may not be active on this thread.

Anything less than 8 sats/vbyte I guess.

Several weeks have passed since you created this thread. Did you make the transaction? Everything good?

How do I calculate it? I had a btc tx that confirmed after more than a week. I intend to send another from Atomic wallet to Electrum but want to lower the fee. How much sats is too low?

Rumours have long circulated about the questionable practices of Changelly, and their alleged connections to hitbtc.com Minergate, Bytecoin, Changenow, Atomic wallet, and Freewallet. ...

How do I calculate it? I had a btc tx that confirmed after more than a week. I intend to send another from Atomic wallet to Electrum but want to lower the fee. How much sats is too low?

The best thing is to use sat/vbyte to avoid any confusion, so atomic wallet still using the sat/byte is already a red flag to me to stop using them

This means that for every byte your transaction is, you'll pay the analogous satoshis.

“WU” stands for “weight units”. After the SegWit activation in 2017, it has replaced bytesize as a measure of how much space transactions take when put into blocks. While a block can be up to 1MB, its weight is 4 million WU. Using SegWit reduces your transaction's WU size.

For legacy transactions: Byte = vByte. One virtual byte is equal with 4 WU. Essentially, sat/vByte tells you how many satoshis you'll pay for every 4 weight units of your transaction. Obviously, it'll be reduced if you're using SegWit.

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You should read this: Weight units

About the fee in legacy using the mempool.space recommended fee uses vbyte so you might need to double your fee because segwit(vbyte) size is smaller than in the legacy wallet.

For better fee estimation you can try to calculate them manually you can use this tool https://jlopp.github.io/bitcoin-transaction-size-calculator/ you can find the result at the bottom of the calculate button.
or use the tool mentions above from coinb.in

A much better option is if you have a backup seed of the Atomic wallet that can be used to import your wallet into the Electrum wallet because it has a better estimation fee than the Atomic wallet.
If you decide to move to Electrum don't forget to put the right derivation path while importing your Atomic wallet to Electrum the right derivation path is listed from this link below.

- https://support.atomicwallet.io/article/146-list-of-derivation-paths

Is sat/vb the same as sat/b? Atomic wallet uses sat/bite but what I see at Mempool is sat/vB.

Fees are calculated in sat/byte which is actually a measurement of how much block space your transaction would occupy. And practically, the more fees you pay, the faster your  transaction gets confirmed. To know the right feet to make use of, you can either make use of the mempool observer thread  via the fee updates by fee buddy.

Is sat/vb the same as sat/b? Atomic Wallet uses sat/bite but what I see at Mempool is sat/vB.

Fees are calculated in sat/byte which is actually a measurement of how much block space your transaction would occupy.

Atomic wallet creates only legacy addresses and that's why it uses sat/b as the measurement unit for fee rates.

Legacy addresses starts from 1
Nested segwit starts from 3 (although not only nested segwit starts from 3)
Segwit version 0 starts from bc1q
Segwit version 1 starts from bc1p (pay-to-taproot)

This is the formula necessary for the calculation:

Formula:
For legacy address: vbyte= Input*148 + output*34 + 10 plus or minus input
For nested segwit: vbyte= Input*93 + output*32 + 10 plus or minus input
For segwit version 0: vbyte= Input*68 + output*31 + 10 plus or minus input
For pay-to-taproot: vbyte= Input*57.5 + output*43 + 10 plus or minus input


To know more about the input and output virtual size: https://bitcoinops.org/en/tools/calc-size/
To know more about the transaction virtual size: https://jlopp.github.io/bitcoin-transaction-size-calculator/
For mempool (beginners): https://mempool.space/
Mempool for advanced users: https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,weight

For example:
If you use the vbyte calculator or that formula above for 1 input and 2 outputs for native segwit addresses, you will get 110 vbyte as the virtual size of 1 input 2 outputs transaction.

To check the fee rate, click on the above second to the last, or last link.

Assuming the fee rate is 5 sat/vbyte.

Fee rate = fee ÷ vbyte

Fee = fee rate * vbyte

Fee = 5 * 110

Fee = 550 sat (0.0000055 BTC). I mean for 1 input and 2 outputs for segwit version 0.


Which means the higher the fee rate, the higher the fee. As mempool is becoming more congested, the fee rate will increase and the fee will increase.

Also if you understand ehat I explained above, you will noticed that as the input count is increasing, the fee will also increase.

Also as the output count is increasing, the fee is also increasing. But if you send to two different addresses separately, the fee would be more. So we can still say increase in the output will make the fee to decrease, despite that the fee is increasing, but lower than sending to each addresses separately.

From the virtual sizes, you can also know that you can save more in fee if you use segwit version 0 and pay-to-taproot addresses while legacy addresses have the highest fee.

Also you will know that pay-to-taproot will be good for consolidation, while segwit version 0 for paying to many addresses.

Is sat/vb the same as sat/b? Atomic wallet uses sat/bite but what I see at Mempool is sat/vB.

You should probably stop using Atomic wallet. They're simply not to be trusted anymore.

As for your question, then you should use mempool.space as a reference next time (assuming the wallet you're using does not estimate the fees accurately. Electrum does a good job at that).