Topic: Low transaction fees (Read 233 times)
Is any of the wallets - Core or Electrum or any else have lower transaction fees or I can send with either of the wallets for lower transaction fees.
Now that I have to do another transaction, I'll use your links to know what fee I should set up
Now, if you want to do your transaction and want to get quick confirmation in next 1 or 2 blocks, the fee to use is 50 satoshi/vbyte. Fortunately, if you can wait from 1 hour to 3 hours, you can try with the fee rate from 5 satoshi/vbyte to 7 satoshi/vbyte. Of course, it is applied with the condition that mempool won't be suddenly loaded up too much.Check mempool (the third chart) there: https://jochen-hoenicke.de/queue/#1,24h
- Hovering mouse on third chart to see the total size (MB) of mempool for each fee range
- With this site, one bitcoin block will take up to 1 MB (maximum) from the tip of mempool.
Further advice, you need to make your plans: weekly (weekends tend to have cheaper transaction fees), then hourly.
- Guide to check fees: Taker, maker, deposit, withdrawal, transaction fees
- I did not write a summary for it (will do this weekend)
- Sunday have lowest fee, and lower than Saturday
- Hours from 0 to 12 UTC are best one to do transactions (from my analyses, it is right for both Bitcoin and Ethereum (ERC20) transactions)
Hello guys, sorry I didnt come back to inform you
It took around 16 hours for the transaction to be confirmed with 10sat/byte.
Now that I have to do another transaction, I'll use your links to know what fee I should set up
Thanks for your help
It took around 16 hours for the transaction to be confirmed with 10sat/byte.
Now that I have to do another transaction, I'll use your links to know what fee I should set up
Thanks for your help
10 sats per byte is VERY low. I'd wait 72 hours to see if it confirms if I were you and then try to bump it (if you enabled rbf or if you own the address it was sent to or know who does)?
Sometimes 10 sats per byte is enough, whenever I choose this kind of transaction fee, usually it only takes a day for ot to be confirmed, 2 days is the maximum from my experience. It depends highly on the mempool status.
^ I bet OP's transaction is still stuck unless he's able to successfully replaced the fee or got lucky with the push tx services.
When you come to think of it, this is probably the first weekend in recent months/years that the mempool didn't clear as we often see. A 10 sats/byte would usually clear by Sunday.
When you come to think of it, this is probably the first weekend in recent months/years that the mempool didn't clear as we often see. A 10 sats/byte would usually clear by Sunday.
It's more than 24 hours have passed. Is your transaction still unconfirmed OP? you should have make it at least 30-40 sats for a faster confirmation time and that's not much of an increase for a fee.
Btw if it is still pending you may try to accelerate your transaction through Viabtc. ( I tried it very long ago 
)
I second this suggestion. I think with that fee, you should be able to use the accelerator just follow the steps below when you should accelerate it if it's not yet confirmed. )legendary
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It's already some hours gone. what about the condition of your transaction OP? It already confirmed or still pending? Share your condition and lock this thread if it already confirmed.
Btw if it is still pending you may try to accelerate your transaction through Viabtc. ( I tried it very long ago )
Btw if it is still pending you may try to accelerate your transaction through Viabtc. ( I tried it very long ago
) 
On the previous days if you are trying to check the mempool is still congested I try to make a transaction with a 50 sat/byte and it takes almost a days before it transfer As far as I remember there are 70k unconfirmed transaction on that they well just hoping to become faster on the next block.
I'm planning to send another one to increase the fees but when I checked the mempool it's next on the block so I wait for it it's better is you set it to 50-100 sat per byte to avoid too much long waiting also consider to check the mempool too. So you can adjust to lower than 50.
Even your transactions might stuck for days if you set 50 sat/byte because I can constantly see transaction fee gets over 100+ sat/s byte too often and average at 60 to 70 sat so its better to take a look at the mempool before setting your transaction fee so that you can avoid waiting time and also can get fastest and cheapest fee for your transaction. I'm planning to send another one to increase the fees but when I checked the mempool it's next on the block so I wait for it it's better is you set it to 50-100 sat per byte to avoid too much long waiting also consider to check the mempool too. So you can adjust to lower than 50.
On the previous days if you are trying to check the mempool is still congested I try to make a transaction with a 50 sat/byte and it takes almost a days before it transfer As far as I remember there are 70k unconfirmed transaction on that they well just hoping to become faster on the next block.
I'm planning to send another one to increase the fees but when I checked the mempool it's next on the block so I wait for it it's better is you set it to 50-100 sat per byte to avoid too much long waiting also consider to check the mempool too. So you can adjust to lower than 50.
I'm planning to send another one to increase the fees but when I checked the mempool it's next on the block so I wait for it it's better is you set it to 50-100 sat per byte to avoid too much long waiting also consider to check the mempool too. So you can adjust to lower than 50.
With that site and that chart, 1 block will take a maximum of 1 MB from the tip of mempool. Use it to get estimate of waiting blocks and correspondent fee. Mempool changes and you can only get fee estimates, that can be correct or inaccurate.
Try using http://blockchair.com/ and see what the explorer says about your transaction, in terms of priority.
It's not possible to accurately predict the ETA at the moment for transactions with low fee rates since the number of unconfirmed transactions has been rising since the beginning of this week
It's not possible to accurately predict the ETA at the moment for transactions with low fee rates since the number of unconfirmed transactions has been rising since the beginning of this week
To earlier points, that's a bit on the lower side right now for sure. Another useful website I've used is: https://bitcoinfees.earn.com/
If you scroll down a bit below the chart, there's a 'Which fees should I use?' section. As of this instance for example, this is what it reflects:
If you scroll down a bit below the chart, there's a 'Which fees should I use?' section. As of this instance for example, this is what it reflects:
Quote
Which fee should I use?
The fastest and cheapest transaction fee is currently 102 satoshis/byte, shown in green at the top.
For the median transaction size of 224 bytes, this results in a fee of 22,848 satoshis.
The fastest and cheapest transaction fee is currently 102 satoshis/byte, shown in green at the top.
For the median transaction size of 224 bytes, this results in a fee of 22,848 satoshis.
You might wait a few days for this transaction since you are paying 10 sats which pretty low transaction. The recommended by mempool as of now is 54 sats in a low priority transaction, it seems you need to wait until it will be confirmed.
Check always the mempool once you are planning to have a transaction because the speed is varied to the fee that you include, you might check it here.
https://mempool.emzy.de/ and there, https://jochen-hoenicke.de/queue/#0,24h for the graph stats.
It could help you with these methods to boost transactions if you can.
Check always the mempool once you are planning to have a transaction because the speed is varied to the fee that you include, you might check it here.
https://mempool.emzy.de/ and there, https://jochen-hoenicke.de/queue/#0,24h for the graph stats.
It could help you with these methods to boost transactions if you can.
- Replace By Fee (RBF)
- Child Pays For Parent (CPFP)
- Accelarate Transaction
Thanks for your reactivity guys !
Problem is that I only have about 0.00015xbt left- not really able to bump up the fees atm..
Okey thanks, I note that.
Problem is that I only have about 0.00015xbt left- not really able to bump up the fees atm..
Quote
its take nearly 60 to 65 hours for first confirmation or Sometime these type transactions cancelled and back in your wallet after 72 hours now just wait until completion of this.
Okey thanks, I note that.
Hello everyone,
I've recently made a bitcoin transaction with very low fees (10 sat/byte). I though I would've to wait around 10 hours for the transaction to be confirmed...
Unfortunately ETA from blockstream.info is still marked as "unknown" even after 10+hours. Do you think I'll be able to live until the transaction is confirmed?
Thanks for your answer, I precise i'm very new to bitcoin and I know a few.
Have a nice day !
This will confirmed after very long time because few days back I also done same mistake its take nearly 60 to 65 hours for first confirmation or Sometime these type transactions cancelled and back in your wallet after 72 hours now just wait until completion of this. I've recently made a bitcoin transaction with very low fees (10 sat/byte). I though I would've to wait around 10 hours for the transaction to be confirmed...
Unfortunately ETA from blockstream.info is still marked as "unknown" even after 10+hours. Do you think I'll be able to live until the transaction is confirmed?
Thanks for your answer, I precise i'm very new to bitcoin and I know a few.
Have a nice day !
10 sats per byte is VERY low. I'd wait 72 hours to see if it confirms if I were you and then try to bump it (if you enabled rbf or if you own the address it was sent to or know who does)?
Hello everyone,
I've recently made a bitcoin transaction with very low fees (10 sat/byte). I though I would've to wait around 10 hours for the transaction to be confirmed...
Unfortunately ETA from blockstream.info is still marked as "unknown" even after 10+hours. Do you think I'll be able to live until the transaction is confirmed?
Thanks for your answer - note that I'm very new to bitcoin and I know a few.
Have a nice day !
I've recently made a bitcoin transaction with very low fees (10 sat/byte). I though I would've to wait around 10 hours for the transaction to be confirmed...
Unfortunately ETA from blockstream.info is still marked as "unknown" even after 10+hours. Do you think I'll be able to live until the transaction is confirmed?
Thanks for your answer - note that I'm very new to bitcoin and I know a few.
Have a nice day !
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