Let's analyze fee rate vs confirmation time! (~4m tx data inside) - page 2.

alyssa85

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Quote from: franky1 on January 13, 2017, 11:07:04 PM

based on the million tx's (mine stopped at 1,048,575 results)

average tx confirmed in 40mins 30mins
average tx size 458bytes
average tx fee 36892sat-41750sat (depending on if you include or exclude the 0fee tx's in the average)

average fee per byte is 91sat/byte
max fee per byte of range 34883 sat/byte
min fee per byte of range 0
-- as for the max fee.. either the source data has an error or someone lastweek paid ALOT for one of their transaction

max tx size 98888 bytes (98.9KB)
min tx size 170 bytes
-- as for the max bytes..either the source data has an error or someone lastweek had a near 99kb tx(filling 10% of block with 1tx)

And that in a nutshell is the problem with bitcoin - 40 minutes is too long. Stuff needs to be confirmed in a few minutes if it is to have practical value as a currency. Then add in that the fees for this poor service are high, and why would anyone bother?

ArcCsch

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Quote from: weex on January 14, 2017, 03:15:55 AM

Yup, here it is. Not confirmed so far. https://blockr.io/tx/info/2be1cbe4d1470a881f179f7dffdad3e5d12212966a86fe3d3b9be17789902989

Someone is trying to combine dust transactions into one address. All the inputs are less than a milli. If the average fee rate is 0.91μBTC/byte, and each input contributes 180 bytes, addresses with less than 0.16 mBTC are useless dust.

As for the data, can someone please make a scatter-plot of time vs. fee rate?
This should not be to difficult to do with Excel, I tried but could not get it to work.

weex

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Big transactions skew the mean and I noticed the 99kb one was never confirmed, so whether it was confirmed is probably important for calcs.

Amph

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Quote from: franky1 on January 13, 2017, 11:07:04 PM

based on the million tx's (mine stopped at 1,048,575 results)

average tx confirmed in 40mins 30mins
average tx size 458bytes
average tx fee 36892sat-41750sat (depending on if you include or exclude the 0fee tx's in the average)

average fee per byte is 91sat/byte
max fee per byte of range 34883 sat/byte
min fee per byte of range 0
-- as for the max fee.. either the source data has an error or someone lastweek paid ALOT for one of their transaction

max tx size 98888 bytes (98.9KB)
min tx size 170 bytes
-- as for the max bytes..either the source data has an error or someone lastweek had a near 99kb tx(filling 10% of block with 1tx)

is the average tx size increasing in the time? because i remember it was 300bytes before, this also lead to more fee of course

if i remember correctly the size of a tx is only based on how many imput you receive and some byte from the output

this mean that many are doing few big transaction and receiving many small one? correct?

weex

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Yup, here it is. Not confirmed so far. https://blockr.io/tx/info/2be1cbe4d1470a881f179f7dffdad3e5d12212966a86fe3d3b9be17789902989

franky1

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based on the million tx's (mine stopped at 1,048,575 results)

average tx confirmed in 40mins 30mins
average tx size 458bytes
average tx fee 36892sat-41750sat (depending on if you include or exclude the 0fee tx's in the average)

average fee per byte is 91sat/byte
max fee per byte of range 34883 sat/byte
min fee per byte of range 0
-- as for the max fee.. either the source data has an error or someone lastweek paid ALOT for one of their transaction

max tx size 98888 bytes (98.9KB)
min tx size 170 bytes
-- as for the max bytes..either the source data has an error or someone lastweek had a near 99kb tx(filling 10% of block with 1tx)

coinsocieties

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Very interesting to look at, but I do not completely understand some of this. I get the general concept, but I do not see much of a pattern. My buddy said he sees a patter of such, but it is broken up to much to make sense of it to me.

weex

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In the interest of advancing the state of the art of fee estimation, I've collected a 1.2 million transactions worth of confirmation time data spanning the last week.

Here's a scatterplot: https://i.imgur.com/qcJIR6c.png compare it to the one last week at https://i.imgur.com/FGGBYpe.png

The file is csv with the fields below.

fee_rate - satoshis/byte of transaction
conf_blocks - # of blocks for transaction to confirm
conf_time - time in seconds for transaction to be confirmed
transaction_id - txid
first_seen - time transaction first imported into database, this is using a process that checks a local Bitcoin Core node every 20 seconds
first_confirmed- time transaction imported from the first block it was seen in, orphaning is not handled here and as the db has grown it's taking a bit longer to mark an entire block's worth of transactions confirmed
fee - fee included in transaction in satoshis
size - size of transation in bytes

Data files: http://www.filedropper.com/txdb2tar
http://www.filedropper.com/conftimes
The first one, without conf_blocks: http://www.filedropper.com/confirmationtimes

This data was collected with https://github.com/weex/bitcoin-fee-distribution which also collects some other info like block #, block hash, # of inputs, # of outputs. One thing that might matter is saving txid's of inputs if they are also in the mempool but the script doesn't do that yet.

Enjoy.

Topic: Let's analyze fee rate vs confirmation time! (~4m tx data inside) - page 2. (Read 1490 times)