Mempool is nearly empty, less than 0.2MB. People still paying more 200sat/byte - page 2.

CyberKuro

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Quote from: tranthidung on November 10, 2020, 02:31:44 AM

Quote from: CyberKuro on November 10, 2020, 02:23:29 AM

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Inaccurate information. What you gave is inaccurate in the past 8 hours. The screenshot is for visual mempool size last 8 hours. At its highest, the total size is less than 12 MB. One block will take 1 MB from the tip of mempool size. Get visual plot last 8 hours there: https://jochen-hoenicke.de/queue/#1,8h

If you want to narrow the window you can choose 2 -hr, and you will see the temporary size of mempool is 1.6 MB. With fee rate at 1 satoshi / (v)byte, your transaction can get first confirmation next 2 - 3 blocks (half of an hour).

I've tried it myself half an hour ago but my transaction still not confirmed, I paid 14 sat/byte, the transaction will be confirmed in 7 blocks (1.78 vMB from tip)
You can check it here: https://bitcoinfees.net/ for total unconfirmed transactions on mempool (updated every few seconds)
Why don't you check it by yourself if 1 satoshi/byte will be confirmed within half an hour.

tranthidung

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Farewell o_e_l_e_o

Quote from: CyberKuro on November 10, 2020, 02:23:29 AM

Wonderful, current total mempool transactions are 1516 with an average transaction fee only $0.33, even with fee 14 sat/byte will be confirmed wthin an hour and 3 sat/byte within 6 hours. Seems like the calm after the storm, since last week it was insane.
Strange to see many transactions still push it to a higher fees, I check auto fee on electrum is 62 sat/byte, so probably some people are spamming the networks.

Inaccurate information. What you gave is inaccurate in the past 8 hours. The screenshot is for visual mempool size last 8 hours. At its highest, the total size is less than 12 MB. One block will take 1 MB from the tip of mempool size. Get visual plot last 8 hours there: https://jochen-hoenicke.de/queue/#1,8h

If you want to narrow the window you can choose 2 -hr, and you will see the temporary size of mempool is 1.6 MB. With fee rate at 1 satoshi / (v)byte, your transaction can get first confirmation next 2 - 3 blocks (half of an hour).

Quote from: ?? on ??

Sites such as buybitcoinworldwide.com, bitcoinfees.net and bitcoinfees.earn.com are still advising users to pay more than 300 Satoshi per Byte for their transactions. Unfortunately, a lot of the users use these websites to decide on the amount of fee they should pay.

Sometimes they don't have available options to control fees especially if they move bitcoin from exchanges, casinos, and marketplaces.

Quote

Just a few hours back, my transaction got confirmed, after I paid just 4 Satoshi per Byte as the transaction fee.

Your transaction would be confirmed even if fee used is at 1 satoshi / (v)byte. Hovering mouse on the chart for mempool size, you will see total size of mempool at the times it dived to bottom (less than < 1 MB). If mempool size is less than 1 MB, it means all temp unconfirmed transactions will be confirmed next 1 block.

CyberKuro

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Quote from: bitmover on November 09, 2020, 10:48:28 PM

I was taking a look at the mempool now and I noticed that.
Anyone could get a confirmation with 1 sat/byte. But there are a lot of transactions paying 20,30,200, even 400 sat/byte.

I don't know if those transactions are miners spamming the network, or just newbies using blockchain.info and similar wallets?

Wonderful, current total mempool transactions are 1516 with an average transaction fee only $0.33, even with fee 14 sat/byte will be confirmed wthin an hour and 3 sat/byte within 6 hours. Seems like the calm after the storm, since last week it was insane.
Strange to see many transactions still push it to a higher fees, I check auto fee on electrum is 62 sat/byte, so probably some people are spamming the networks.

bitmover

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Quote from: Coin_trader on November 09, 2020, 10:55:31 PM

personally I don't manual input transaction because I don't want to manually check the preferred fee based on mempool condition by the time I want to send transaction.

Well, maybe you are rich and you don't mind paying 200 sat/vbyte, which is like 30 USD in a single transaction.

Even if I were rich I wouldn't waste 30USD in a transaction that could cost 0.03 usd just because you don't want to manually write "1" instead of just clicking ok. Wink

OcTradism

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Quote from: bitmover on November 09, 2020, 10:48:28 PM

Anyone could get a confirmation with 1 sat/byte. But there are a lot of transactions paying 20,30,200, even 400 sat/byte.

They are from platforms that use bad fee estimations for their customers or they use bad fee estimators by themselves. If they use custodial wallets, they don't have control on how high or low fee they want to use for transactions. All parameters and setups are done by platforms with custodial wallets.

The inaccurate use of fee does not affect the network too much because the total size of overkilling fee transactions is not high. Total size in mempool is 0.189 MB and all waiting transactions will be confirmed in one coming block. https://jochen-hoenicke.de/queue/#1,2h

You are correct and I am surprising too by people are paying 500 satoshi per byte for their transactions.

Coin_trader

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Electrum wallet default transaction fee for 5 blocks below is still 200sat/byte. I believe that ain't newbie sending that transaction that using 200sat/byte for fee because personally I don't manual input transaction because I don't want to manually check the preferred fee based on mempool condition by the time I want to send transaction.

bitmover

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I was taking a look at the mempool now and I noticed that.
Anyone could get a confirmation with 1 sat/byte. But there are a lot of transactions paying 20,30,200, even 400 sat/byte.

I don't know if those transactions are miners spamming the network, or just newbies using blockchain.info and similar wallets?

You can see the mempool

https://bitcoindata.science/plot-your-transaction-in-mempool.html

Topic: Mempool is nearly empty, less than 0.2MB. People still paying more 200sat/byte - page 2. (Read 324 times)