If you want a quick confirmation, wait until the time from the last block is +15 minutes and see what the Next Block will look like. Through that and evaluating the fees above, you can find out the appropriate fees for inclusion in the next block, and the average will definitely be less than 10 minutes.
Fees are estimated according to an analysis of the data of the current block and the next block, the congestion of current transactions, but no one can predict the shape of the upcoming transactions, so these estimates, even if they are based on real-time data, are a look at the mempool in the past.
Topic: How to guess or estimate the tx time ? - page 2. (Read 339 times)
Now actually I don't understand that how can we estimate or guess the time on these transactions.
If you are in a hurry for a transaction to be completed, then use the fees for high priority to process your transactions, If you are not in a hurry, use low priority fees. If you somehow get an estimated time, it is not a correct value, there is a reason it is called "estimated", this is because it is a rough value and not an actual value or number. It is a rough guess.
You can use this site https://jochen-hoenicke.de/queue/#BTC,2h,weight
Some other mempool observer websites.https://mempool.jhoenicke.de/#BTC,24h,weight
https://mempool.space/
https://mempool.space/graphs/mempool
Estimate waiting time for a transaction to be confirmed is not 100% correct because mempools are dynamic and Bitcoin users can broadcast more new transactions to mempools and affect your estimation.
You can paste your transaction hash here and see Priority of the transaction.
https://blockchair.com/bitcoin
You can use this site https://jochen-hoenicke.de/queue/#BTC,2h,weight
Currently the weight on 10+ sat/vbytes is 43.403 vMB since the average weight of each Bitcoin block is 2 MB and it takes 10 minutes to mine one block, so it may takes around 6-7 hours CMIIW.
Currently the weight on 10+ sat/vbytes is 43.403 vMB since the average weight of each Bitcoin block is 2 MB and it takes 10 minutes to mine one block, so it may takes around 6-7 hours CMIIW.
It's not bad idea. Although saying "at least" (rather than "takes around") would be more accurate since people keep creating TX which may have higher fee rate than your own TX.
You can use this site https://jochen-hoenicke.de/queue/#BTC,2h,weight
Currently the weight on 10+ sat/vbytes is 43.403 vMB since the average weight of each Bitcoin block is 2 MB and it takes 10 minutes to mine one block, so it may takes around 6-7 hours CMIIW.
Currently the weight on 10+ sat/vbytes is 43.403 vMB since the average weight of each Bitcoin block is 2 MB and it takes 10 minutes to mine one block, so it may takes around 6-7 hours CMIIW.
high priority means most likely to get into next block(no guarantees).. the lower numbers are more guess/suggestion/less likely
some people look at the previous blocks to see how many transactions actually got in at each level
EG
this block
https://www.blockchain.com/explorer/blocks/btc/832654
although having ~80tx above 50sat/vb
there is a big cluster of several hundred transactions paying between 8-20sat/vb
so its not like everyone can/does/need to pay top fee.. but it can help get you more priority if there are too many transactions waiting in the 8-20 cluster, by paying more then the large cluster of transactions that do get in recently
some people look at the previous blocks to see how many transactions actually got in at each level
EG
this block
https://www.blockchain.com/explorer/blocks/btc/832654
although having ~80tx above 50sat/vb
there is a big cluster of several hundred transactions paying between 8-20sat/vb
so its not like everyone can/does/need to pay top fee.. but it can help get you more priority if there are too many transactions waiting in the 8-20 cluster, by paying more then the large cluster of transactions that do get in recently
Possibly a day or two, possibly never. There is a reason why priority is used instead of the actual estimated time.
No estimation will ever be accurate because there are a lot of variables in play here. For example, if the number of transactions increases after you send a transaction, then your transaction would take longer. Miners can also choose the transactions to include into their block.
No estimation will ever be accurate because there are a lot of variables in play here. For example, if the number of transactions increases after you send a transaction, then your transaction would take longer. Miners can also choose the transactions to include into their block.
What that is most important is when the next block is confirmed. It can take just 2, ,3 or minutes. It can take 10 minutes or more. Provided if you use the fee rate that is high enough to get the transaction confirmed early.
Like if I give 10sat/vB how and where can I find my estimated time ?
Mempool is not decongest to as low as 10 sat/vbyte, expect such transaction to remain unconfirmed and likely it might later be dropped from most node's mempool if it is more than 14 days and if the purging later becomes greater than 10 sat/vbyte.
On memepool.space on the top you will see a search box. Enter the transaction hash and it will give you an approximate time when you transaction will get confirmed. The same can be don on blockhair.com
If it is high priority then generally the first confirmation happens in 10 minutes. If it is medium priority then generally the first confirmation happen between 20 to 40 minutes.
If it is high priority then generally the first confirmation happens in 10 minutes. If it is medium priority then generally the first confirmation happen between 20 to 40 minutes.
When I have check the memepool.space it is showing that current TRANSACTION FEES, ( Low Priority, Medium Priority, High Priority). Now actually I don't understand that how can we estimate or guess the time on these transactions?
Like if I give 10sat/vB how and where can I find my estimated time ?
Like if I give 10sat/vB how and where can I find my estimated time ?
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