Low priority transaction confirmation time calculation.

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legendary

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Quote from: yakuza699 on March 29, 2015, 10:20:13 AM

If we are talking about blockchain.info then the confirmation time are just guesses which in fact as you said sometimes are misleading.There is no really good formula to calculate the confirmation time but if you pay 0.0001 per 1KB you are good and the tx will get included in the next block(most of the time).

Yes. I'm talking about blockchain.info. So it is all about the fee, no mather how low the actual transaction priority is. Thanks for confirming.

yakuza699

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If we are talking about blockchain.info then the confirmation time are just guesses which in fact as you said sometimes are misleading.There is no really good formula to calculate the confirmation time but if you pay 0.0001 per 1KB you are good and the tx will get included in the next block(most of the time).

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legendary

Activity: 2170

Merit: 1427

I was wondering how do low priority transactions confirmation time gets calculated?

For example, if you have let's say 100 received inputs with each less than 10 confirmations and want to empty the wallet with just 1 output.

Usually you see : "Low priority" "will confirm within xx amount of blocks" But how can it be so certain about when the transaction will get confirmed within xx amount of blocks?

If you add 0.01BTC in fee, the priority is still low but it might get confirmed after just 1 block right? And if the fee is 0.0001BTC it might also be confirmed outside the quoted confirmation time frame?

It seems to me that the quoted confirmation time is a bit misleading. It just depends on which pool is going to grab the highest fee as first. Or am I wrong?

Topic: Low priority transaction confirmation time calculation. (Read 1051 times)