- fastestFee: 3 sat/vB
- halfHourFee: 3 sat/vB
- hourFee: 3 sat/vB
- economyFee: 2 sat/vB
- minimumFee: 1 sat/vB
Topic: Mempool Observer Topic - page 20. (Read 20247 times)
Call me brainwashed, yet I don't consider anything consistently below 20 to 30 sats per vbyte to be particularly expensive for onchain transactions.
You're not brainwashed. Transaction fees will inevitably become the main compensation for miners. This can be delayed to the next decade, but it's just a matter of time.It is frustrating that some people have not yet realized that having a permanent hard cap of 21 million comes with tradeoffs. There is no free lunch; everything comes at a price. What's important is who pays the price.
Don't get me wrong.
I know the free market regulates the block space, and fees are surely going north, so we need to take action to avoid unwanted consequences (consolidation to 500K! Opening channels).
I don't see the situation that is meant to happen in 10 years because of hyperbitcoinisation, has to be dealt today because of... monkey jpgs.
- fastestFee: 4 sat/vB
- halfHourFee: 4 sat/vB
- hourFee: 4 sat/vB
- economyFee: 2 sat/vB
- minimumFee: 1 sat/vB
Call me brainwashed, yet I don't consider anything consistently below 20 to 30 sats per vbyte to be particularly expensive for onchain transactions.
You're not brainwashed. Transaction fees will inevitably become the main compensation for miners. This can be delayed to the next decade, but it's just a matter of time.It is frustrating that some people have not yet realized that having a permanent hard cap of 21 million comes with tradeoffs. There is no free lunch; everything comes at a price. What's important is who pays the price.
~183K unconfirmed transactions with average time ~10.6 minutes and 4 sat/vB fees, I didn't think we would see such low fees in August especially since the difficulty will drop if we continue this trend which means we will probably find blocks faster. Summer has a good effect on transaction fees.
h4 sats/vB is not a “low fee”.
1 or 2 s/vB is a “low fee”.
Surely, you cannot get your right to write in the most secure database for low fees as granted, but the garbage coming from Rune and Ordinals tricked us thinking these are low fees, when they actually are not.
Call me brainwashed (if you must), yet I don't consider anything consistently below 20 to 30 sats per vbyte to be particularly expensive for onchain transactions.
I think that expecting onchain transaction fees to stay below 10 sats per vbyte on an ongoing basis remains quite unrealistic and likely to result in your being ongoingly disappointed and whining like a little BIG blocker baby (also sometimes referred to as BIG Blocker nutjob - to the extent that I might not be engaging in too many non-substantive and potentially ad hominem attacks). Not usually thinking about you, fillippone, as a potential whining little BIG blocker baby, but if the label currently seems to fit.. I may as well say "how I really feel" regarding some folks who perceive that onchain fees need so stay in the ballpark of zero forever.. .. hahahahahaha
Maybe it is just me in regards to trying to prepare for situations in which the onchain fees are not really staying lower than 10-ish sats per vbyte? but there seems to be some value in expecting negative scenarios, even if the negative scenarios might not end up playing out as negatively as we had anticipated that they could end up becoming.
Accordingly, in the past year or so, I have largely been changing some of my own expectations regarding how to think about on-chain transaction fees and also attempting to help any newbies and/or seemingly poor people to attempt to make sure that they are not holding a whole bunch of low value UTXOs - perhaps even UTXOs below 300k satoshis-ish... so yeah, it may well be o.k. to have some UTXOs that are smaller than 300k satoshis in the event that some change might have been created at those quantities of satoshis or even some transactions might have come into one's wallet at those lower quantities of satoshis, yet if there are choices to keep a decent number of your own UTXOs a bit larger or even to use 3rd parties (or even lightning network) for some of the smaller UTXOs in order to wait until the quantities of satoshis get over something like 300 satoshis prior to transferring them to private addresses/wallets (and yeah wallets that have coin control features too), then many of us should be trying to keep these size of UTXO matters in mind, especially since we might not want to be left with UTXOs that are either expensive to spend or that our having lower valued UTXOs that might inadvertently end up considerably decreasing our actual networth (in bitcoin) when we might have had failed/refused to account for the fact that we have a large number of our UTXOs that are in amounts that are relatively small.. below 300k satoshis, for example (and yeah the actual amount of minimal sizes is surely going to be changing over time - perhaps up and perhaps down and perhaps it is not too easy to really know with any kind of exact precision, so we just should be trying to do our best based on information that we have at any given time, including information that we actually know today is that anything below 20 satoshis per vbyte on an ongoing and reliable basis is not really in the realm of outrageous in terms of what it might cost us to move our UTXOs around).
~183K unconfirmed transactions with average time ~10.6 minutes and 4 sat/vB fees, I didn't think we would see such low fees in August especially since the difficulty will drop if we continue this trend which means we will probably find blocks faster. Summer has a good effect on transaction fees.
4 sats/vB is not a “low fee”.1 or 2 s/vB is a “low fee”.
Surely, you cannot get your right to write in the most secure database for low fees as granted, but the garbage coming from Rune and Ordinals tricked us thinking these are low fees, when they actually are not.
~183K unconfirmed transactions with average time ~10.6 minutes and 4 sat/vB fees, I didn't think we would see such low fees in August especially since the difficulty will drop if we continue this trend which means we will probably find blocks faster. Summer has a good effect on transaction fees.
- fastestFee: 4 sat/vB
- halfHourFee: 4 sat/vB
- hourFee: 4 sat/vB
- economyFee: 2 sat/vB
- minimumFee: 1 sat/vB
- fastestFee: 4 sat/vB
- halfHourFee: 4 sat/vB
- hourFee: 4 sat/vB
- economyFee: 2 sat/vB
- minimumFee: 1 sat/vB
- fastestFee: 4 sat/vB
- halfHourFee: 4 sat/vB
- hourFee: 4 sat/vB
- economyFee: 4 sat/vB
- minimumFee: 2 sat/vB
- fastestFee: 5 sat/vB
- halfHourFee: 5 sat/vB
- hourFee: 5 sat/vB
- economyFee: 4 sat/vB
- minimumFee: 2 sat/vB
- fastestFee: 4 sat/vB
- halfHourFee: 4 sat/vB
- hourFee: 4 sat/vB
- economyFee: 2 sat/vB
- minimumFee: 1 sat/vB
- fastestFee: 9 sat/vB
- halfHourFee: 8 sat/vB
- hourFee: 7 sat/vB
- economyFee: 2 sat/vB
- minimumFee: 1 sat/vB
- fastestFee: 6 sat/vB
- halfHourFee: 5 sat/vB
- hourFee: 5 sat/vB
- economyFee: 2 sat/vB
- minimumFee: 1 sat/vB
Just me thinking about the graph. A better information could be the median fee, not the average. Average value get screwed when a single large fee transaction gets included, without moving the fees paid by other transactions.
Median fees I think would give a better representation of the current market.
Just my two cents.
For the same reason, the information about the half-hour and hour fee is quite useless because transactions can very easily appear that will change it, sometimes it takes hours or days to return. It's not just about this bot Median fees I think would give a better representation of the current market.
Just my two cents.
- fastestFee: 4 sat/vB
- halfHourFee: 4 sat/vB
- hourFee: 4 sat/vB
- economyFee: 2 sat/vB
- minimumFee: 1 sat/vB
- fastestFee: 11 sat/vB
- halfHourFee: 9 sat/vB
- hourFee: 7 sat/vB
- economyFee: 2 sat/vB
- minimumFee: 1 sat/vB
- fastestFee: 5 sat/vB
- halfHourFee: 5 sat/vB
- hourFee: 5 sat/vB
- economyFee: 2 sat/vB
- minimumFee: 1 sat/vB
Just me thinking about the graph. A better information could be the median fee, not the average. Average value get screwed when a single large fee transaction gets included, without moving the fees paid by other transactions.
Median fees I think would give a better representation of the current market.
Just my two cents.
Median fees I think would give a better representation of the current market.
Just my two cents.
- fastestFee: 4 sat/vB
- halfHourFee: 4 sat/vB
- hourFee: 4 sat/vB
- economyFee: 2 sat/vB
- minimumFee: 1 sat/vB
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