New Transaction Accelerator! | Bitcointalksearch.org

Potato Chips

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Quote from: wiivita on October 09, 2024, 05:48:57 PM

i bookmarked your website but the fees are way higher so until you drop the fees, i will wait.. great initiative btw!

Recommended fees have been cheap lately though, see: mempool.space

Just in case, do you have a stuck transaction or are you preparing for future use? if it's the latter, I hope you're doing the work on the prevention side as well like making sure transactions are RBF-enabled so it's easier to bump fees whenever needed.

wiivita

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i bookmarked your website but the fees are way higher so until you drop the fees, i will wait.. great initiative btw!

hi@spiderpool

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Quote from: Synchronice on May 20, 2024, 10:37:18 AM

Quote from: hi@spiderpool on May 20, 2024, 02:53:31 AM

Yes, we are a pool and can set whatever fees we deem fit. However, the reality of things would be that we are still a small pool and would a user be willing to pay eg. $10 USDT for our txn acceleration where the odds of us getting a block is 1-2%?
But when we're partnering with bigger pools its not something we have full control over.

Yes, you are right, you are a new pool with very low probability of getting a block mined. Now I understand what you mean but I just wanted to say that so ridiculously high acceleration fees aren't going to attract people and I hope you'll manage to make your partners believe that.
By the way, if you manage to grow your pool, i.e. let's say you mine 5-6 blocks a day, then I think it will be good to start thinking about totally your own transaction acceleration service.
I hope you'll manage to get a good deal with partners and offer us a decent transaction accelerator that won't rip our wallets.

Thank you for your opinion's, always good to get a general sentiment of the public!

Synchronice

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Quote from: hi@spiderpool on May 20, 2024, 02:53:31 AM

Yes, we are a pool and can set whatever fees we deem fit. However, the reality of things would be that we are still a small pool and would a user be willing to pay eg. $10 USDT for our txn acceleration where the odds of us getting a block is 1-2%?
But when we're partnering with bigger pools its not something we have full control over.

Yes, you are right, you are a new pool with very low probability of getting a block mined. Now I understand what you mean but I just wanted to say that so ridiculously high acceleration fees aren't going to attract people and I hope you'll manage to make your partners believe that.
By the way, if you manage to grow your pool, i.e. let's say you mine 5-6 blocks a day, then I think it will be good to start thinking about totally your own transaction acceleration service.
I hope you'll manage to get a good deal with partners and offer us a decent transaction accelerator that won't rip our wallets.

hi@spiderpool

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Quote from: Synchronice on May 17, 2024, 04:19:55 PM

Quote from: hi@spiderpool on May 17, 2024, 05:01:07 AM

We're looking for ways to optimize these fee rates in the future.

Can we talk a little more about this? I don't understand what ways you are looking for to optimize fee rates. You are the pool, you can set any fee you want. If you can't calculate real time fees yourself, just use mempool.space, it's one of the most correct transaction fee estimator.

Quote from: stompix on May 17, 2024, 06:09:39 AM

Not defending spiderpool here for their fees but they are currently the cheapest unless mempool finally starts greenlighting accounts with their accelerators, I still find them more than expensive, and unless in a dire need or in a case of not trusting your partner with a large sum of money I wound;t ever use an accelerator but that's what pools charge nowadays, pretty much knowing the same, some are trapped in this mempool with tx beyond their control.

By the way, I find it a little curious that pools start integration of transaction accelerator services when nodes can opt-in RBF to full RBF and live a happy life.
Fees of these accelerators are ridiculously high but on the other hand I would agree with tremendously high fees if this dream of mine would became a real thing (I would give up on RBF too). Imagine a world with no RBF and ordinals spammers need to increase transaction fees. At the moment their bots increase transaction fees automatically often for no reason. If they had to use paid Bitcoin transaction accelerators, they would go bankrupt within minutes.

Yes, we are a pool and can set whatever fees we deem fit. However, the reality of things would be that we are still a small pool and would a user be willing to pay eg. $10 USDT for our txn acceleration where the odds of us getting a block is 1-2%?
But when we're partnering with bigger pools its not something we have full control over.

hi@spiderpool

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Quote from: stompix on May 17, 2024, 06:09:39 AM

Quote from: shield132 on May 17, 2024, 04:13:53 AM

The transaction's size is 8.89 KB with a fee of 9.03 sat/vb. Basically, it will be automatically confirmed in an hour or two. At the moment the transaction fee in USD is 53.10$. Your transaction accelerator asks for 2276.71 USDT to get the transaction accelerated, e.g. included by your or your partner's pool. (TX id for reference - 11db9ca4d8fe65490234bdb3745ed71377b3c7b1271f735c5f1d6d4f07f530e7)

No it won't Wink

, but anyhow
F2 pool asks for :

Quote from: shield132 on May 17, 2024, 04:13:53 AM

Is your transaction accelerator really one of the cheapest? I don't find such a service beneficial. I checked another typical one input one output transaction and for a transaction that needs 1$ to get included in the next block, your accelerator asks user to pay 517.6 USDT. Here is transaction id - 6f661ff27a87234d90f0dbde2dcbc967f19521d94ee4b2bd717254e8cedb6c50

That tx has 17 unconfirmed parents, it's not a 127vb but 2000vb tx in realty, unconfirmed parents always screw up calculations with these accelerators.

Not defending spiderpool here for their fees but they are currently the cheapest unless mempool finally starts greenlighting accounts with their accelerators, I still find them more than expensive, and unless in a dire need or in a case of not trusting your partner with a large sum of money I wound;t ever use an accelerator but that's what pools charge nowadays, pretty much knowing the same, some are trapped in this mempool with tx beyond their control.

Correct, we made that statement based on what is most publicly available and Mempool.space's accelerate is currently on a allowlist basis.

Another factor to take into account is, majority of the time, people wont use txn accelerator's for smaller txn's unless they're stuck etc. Most likely it might be a time based restriction (eg. cheap listing of an ordinal where user wants to snipe / minting the first rune). There's alot of possibilities. However, we are aware that the prices of fees will be a big factor on whether or not a user uses our txn accelerator, hence, we are looking for ways to make them cheaper and looking for partners.

PX-Z

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Quote from: Synchronice on May 17, 2024, 04:19:55 PM

Quote from: hi@spiderpool on May 17, 2024, 05:01:07 AM

We're looking for ways to optimize these fee rates in the future.

Can we talk a little more about this? I don't understand what ways you are looking for to optimize fee rates. You are the pool, you can set any fee you want. If you can't calculate real time fees yourself, just use mempool.space, it's one of the most correct transaction fee estimator.

Indeed, but following the mempool.space fee recommendation means little to no earnings to their accelerators. Accelerators are only used and useful when fees go high and when people accidentally use too small fee, or just bad wallet fee recommendation that it already take weeks yet still unconfirmed, so you can't use it everyday. These mentioned stuff are the target market of accelerators.

Quote

Imagine a world with no RBF and ordinals spammers need to increase transaction fees. At the moment their bots increase transaction fees automatically often for no reason. If they had to use paid Bitcoin transaction accelerators, they would go bankrupt within minutes.

RBF was introduced way before ordinals was introduced. It means that the problem of fees are existing since then. Removing it or if it wasn't made will cause too much headaches to majority not just to those Ordinal users

Synchronice

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Quote from: hi@spiderpool on May 17, 2024, 05:01:07 AM

We're looking for ways to optimize these fee rates in the future.

Can we talk a little more about this? I don't understand what ways you are looking for to optimize fee rates. You are the pool, you can set any fee you want. If you can't calculate real time fees yourself, just use mempool.space, it's one of the most correct transaction fee estimator.

Quote from: stompix on May 17, 2024, 06:09:39 AM

Not defending spiderpool here for their fees but they are currently the cheapest unless mempool finally starts greenlighting accounts with their accelerators, I still find them more than expensive, and unless in a dire need or in a case of not trusting your partner with a large sum of money I wound;t ever use an accelerator but that's what pools charge nowadays, pretty much knowing the same, some are trapped in this mempool with tx beyond their control.

By the way, I find it a little curious that pools start integration of transaction accelerator services when nodes can opt-in RBF to full RBF and live a happy life.
Fees of these accelerators are ridiculously high but on the other hand I would agree with tremendously high fees if this dream of mine would became a real thing (I would give up on RBF too). Imagine a world with no RBF and ordinals spammers need to increase transaction fees. At the moment their bots increase transaction fees automatically often for no reason. If they had to use paid Bitcoin transaction accelerators, they would go bankrupt within minutes.

stompix

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Quote from: shield132 on May 17, 2024, 04:13:53 AM

The transaction's size is 8.89 KB with a fee of 9.03 sat/vb. Basically, it will be automatically confirmed in an hour or two. At the moment the transaction fee in USD is 53.10$. Your transaction accelerator asks for 2276.71 USDT to get the transaction accelerated, e.g. included by your or your partner's pool. (TX id for reference - 11db9ca4d8fe65490234bdb3745ed71377b3c7b1271f735c5f1d6d4f07f530e7)

No it won't Wink

, but anyhow
F2 pool asks for :

Quote from: shield132 on May 17, 2024, 04:13:53 AM

Is your transaction accelerator really one of the cheapest? I don't find such a service beneficial. I checked another typical one input one output transaction and for a transaction that needs 1$ to get included in the next block, your accelerator asks user to pay 517.6 USDT. Here is transaction id - 6f661ff27a87234d90f0dbde2dcbc967f19521d94ee4b2bd717254e8cedb6c50

That tx has 17 unconfirmed parents, it's not a 127vb but 2000vb tx in realty, unconfirmed parents always screw up calculations with these accelerators.

Not defending spiderpool here for their fees but they are currently the cheapest unless mempool finally starts greenlighting accounts with their accelerators, I still find them more than expensive, and unless in a dire need or in a case of not trusting your partner with a large sum of money I wound;t ever use an accelerator but that's what pools charge nowadays, pretty much knowing the same, some are trapped in this mempool with tx beyond their control.

shield132

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Quote from: hi@spiderpool on May 17, 2024, 05:01:07 AM

Quote from: shield132 on May 17, 2024, 04:13:53 AM

Quote from: hi@spiderpool on May 14, 2024, 04:31:23 AM

Hi we're Spiderpool and we just released our own Txn Accelerator

I wanted to say you are welcome but...

Quote from: hi@spiderpool on May 14, 2024, 04:31:23 AM

Do give us a try and let us know what you think! We probably have one of the lowest fees in the market currently, probably tied with Antpool.

Is this a serious statement? Okay. According to mempool.space, 10 sat/vb is a recommended fee to get your transaction included in the next block right now. As an example to test your service, I took someone else's transaction from mempool and pasted the TX id in your accelerator. The transaction's size is 8.89 KB with a fee of 9.03 sat/vb. Basically, it will be automatically confirmed in an hour or two. At the moment the transaction fee in USD is 53.10$. Your transaction accelerator asks for 2276.71 USDT to get the transaction accelerated, e.g. included by your or your partner's pool. (TX id for reference - 11db9ca4d8fe65490234bdb3745ed71377b3c7b1271f735c5f1d6d4f07f530e7)

Is your transaction accelerator really one of the cheapest? I don't find such a service beneficial. I checked another typical one input one output transaction and for a transaction that needs 1$ to get included in the next block, your accelerator asks user to pay 517.6 USDT. Here is transaction id - 6f661ff27a87234d90f0dbde2dcbc967f19521d94ee4b2bd717254e8cedb6c50

I don't understand this service and I don't think anyone ever will use it with current fees.

I'd argue that it really depends on 'why' people need the txn to be accelerated + network conditions as its use case. BTC in itself is slow, and currently this is rlly just the bare bones of our product. We're looking for ways to optimize these fee rates in the future.

As regards to the statement of one of the cheapest, I do not think it is an entirely wrong statement. We've compared ourselves to a few of the larger, more popular mining sites and found that we are indeed one of the cheapest.[Excluding free ones ofc] Not exactly too sure of any other independent txn accelerators.

Okay, let's take a transaction and compare each of them.
Here is the TX ID: e73706b06711761fb80d430703c63253599b89b1247e31e8763ac6bcec939620

Let's estimate costs of different transaction accelerators:
Spiderpool - 448.12 USDT
Binance - 419.35 (original price was given in BTC - 0.00631618)
Antpool - 449.12 USDT
Mempool.space - 68.66 USD.

Only mempool.space has the best fee rate on the market. Every other accelerator wants to earn monthly salary by only accelerating a single transaction. If you offer us lower fees compared to mempool.space, your business will have customers and it will succeed. Offer 2x or 3x of what's recommended during the acceleration process, otherwise no one will pay hundreds and thousands of dollars, don't have that illusion.

hi@spiderpool

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Quote from: shield132 on May 17, 2024, 04:13:53 AM

Quote from: hi@spiderpool on May 14, 2024, 04:31:23 AM

Hi we're Spiderpool and we just released our own Txn Accelerator

I wanted to say you are welcome but...

Quote from: hi@spiderpool on May 14, 2024, 04:31:23 AM

Do give us a try and let us know what you think! We probably have one of the lowest fees in the market currently, probably tied with Antpool.

Is this a serious statement? Okay. According to mempool.space, 10 sat/vb is a recommended fee to get your transaction included in the next block right now. As an example to test your service, I took someone else's transaction from mempool and pasted the TX id in your accelerator. The transaction's size is 8.89 KB with a fee of 9.03 sat/vb. Basically, it will be automatically confirmed in an hour or two. At the moment the transaction fee in USD is 53.10$. Your transaction accelerator asks for 2276.71 USDT to get the transaction accelerated, e.g. included by your or your partner's pool. (TX id for reference - 11db9ca4d8fe65490234bdb3745ed71377b3c7b1271f735c5f1d6d4f07f530e7)

Is your transaction accelerator really one of the cheapest? I don't find such a service beneficial. I checked another typical one input one output transaction and for a transaction that needs 1$ to get included in the next block, your accelerator asks user to pay 517.6 USDT. Here is transaction id - 6f661ff27a87234d90f0dbde2dcbc967f19521d94ee4b2bd717254e8cedb6c50

I don't understand this service and I don't think anyone ever will use it with current fees.

I'd argue that it really depends on 'why' people need the txn to be accelerated + network conditions as its use case. BTC in itself is slow, and currently this is rlly just the bare bones of our product. We're looking for ways to optimize these fee rates in the future.

As regards to the statement of one of the cheapest, I do not think it is an entirely wrong statement. We've compared ourselves to a few of the larger, more popular mining sites and found that we are indeed one of the cheapest.[Excluding free ones ofc] Not exactly too sure of any other independent txn accelerators.

shield132

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Quote from: hi@spiderpool on May 14, 2024, 04:31:23 AM

Hi we're Spiderpool and we just released our own Txn Accelerator

I wanted to say you are welcome but...

Quote from: hi@spiderpool on May 14, 2024, 04:31:23 AM

Do give us a try and let us know what you think! We probably have one of the lowest fees in the market currently, probably tied with Antpool.

Is this a serious statement? Okay. According to mempool.space, 10 sat/vb is a recommended fee to get your transaction included in the next block right now. As an example to test your service, I took someone else's transaction from mempool and pasted the TX id in your accelerator. The transaction's size is 8.89 KB with a fee of 9.03 sat/vb. Basically, it will be automatically confirmed in an hour or two. At the moment the transaction fee in USD is 53.10$. Your transaction accelerator asks for 2276.71 USDT to get the transaction accelerated, e.g. included by your or your partner's pool. (TX id for reference - 11db9ca4d8fe65490234bdb3745ed71377b3c7b1271f735c5f1d6d4f07f530e7)

Is your transaction accelerator really one of the cheapest? I don't find such a service beneficial. I checked another typical one input one output transaction and for a transaction that needs 1$ to get included in the next block, your accelerator asks user to pay 517.6 USDT. Here is transaction id - 6f661ff27a87234d90f0dbde2dcbc967f19521d94ee4b2bd717254e8cedb6c50

I don't understand this service and I don't think anyone ever will use it with current fees.

hi@spiderpool

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Quote from: Potato Chips on May 16, 2024, 01:49:43 PM

Deets about the mentioned free accelerations? I'm confused about your answer to z-tight's question in regards to this 😅

Like any prerequisites? how long will you be taking requests? asking for future use because fees are cheap at the moment so no immediate need for a txn accelerator.

With Regards to the free Txn Accelerators, it is already in the works and we'll reveal more details when I manage to gather all the details and hopefully, a release day!

Potato Chips

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Deets about the mentioned free accelerations? I'm confused about your answer to z-tight's question in regards to this 😅

Like any prerequisites? how long will you be taking requests? asking for future use because fees are cheap at the moment so no immediate need for a txn accelerator.

hi@spiderpool

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Quote from: Z-tight on May 15, 2024, 04:35:05 AM

Quote from: hi@spiderpool on May 14, 2024, 09:35:49 PM

With regards to our hashrate we understand that we have a lower hashrate as compared to other mining pools. However, we are partnered with some of the larger mining pool but unfortunately cannot reveal the names of these mining pools for NDA purposes Sad

BUT with our partners we have a combined hashrate of 25.6% of the network.

Fair enough, however, if your tx accelerator becomes widely used at some point in time, people would still be able to detect the mining pools you cooperate with, based on the mining pools that frequently confirm their tx's when they use your paid service.

Quote from: hi@spiderpool on May 15, 2024, 03:43:04 AM

With regards to blacklisted addresses, i'll raise it to tech as well.

I hope there would be nothing of such, because if your service works with blockchain analysis companies and blacklists addresses or utxo's, that is enough reason for people not to use your service.

Correct, it is still easily discernable. However, from our end we cant be the ones divulging the information :x

We also do not work with any blockchain analytics company at the moment, so there will be no limitations to blacklisted addresses or UTXO's.

Lucius

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If we take into account that a greater number of transaction accelerators can lead to the price of such a service being reduced, then it is positive that we got another such service. However, such services only make sense in the case when the mempool is overcrowded and the user has not used a wallet that has RBF (replace by fee) - because it is generally a much cheaper option to increase the fee yourself than to pay for such a service.

In the end, Via is always the option, although with its limitations and obvious abuses, it is not easy to push a transaction through their free service.

Synchronice

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Quote from: hi@spiderpool on May 14, 2024, 09:35:49 PM

Firstly, here are our official links [sorry i forgot it the first time around!]
Twitter - https://twitter.com/SpiderPool_com
Official Website - https://www.spiderpool.com/
Txn Accelerator Link - https://www.spiderpool.com/txAccelerate
Linktree to our TG+Email - https://linktr.ee/spiderpool_com

Edit your original post and include those URLs there. Also change the title, you have a typo there, it's accelerator, not excellerator.
Also, add low transaction fee altcoins like Litecoin, Dogecoin, Monero and probably some other ones as a payment method for acceleration fee.

Quote from: hi@spiderpool on May 14, 2024, 09:35:49 PM

However, we are partnered with some of the larger mining pool but unfortunately cannot reveal the names of these mining pools for NDA purposes Sad

BUT with our partners we have a combined hashrate of 25.6% of the network.

That list will be revealed automatically when someone uses your transaction accelerator and discovers that transaction was included in block mined by AntPool (for example).

Quote from: hi@spiderpool on May 14, 2024, 09:35:49 PM

Certain unconfirmed Txn's show 50USDT as that is our minimum fee for the acceleration! We could have a separate txn accelerator for smaller txn's if theres enough demand! Let us know! We're open to suggestions Cheesy

Please, transaction accelerator service providers have so high fees that most of the time it's better to lose your money or wait for months instead of paying ridiculously high fees that accelerator asks you. It will be good if you have higher than recommended transaction fees, up to 2-3x of what's recommended during the acceleration. This way you'll still be in profit and will have lots customers.
When a guy sends $70, he won't pay $50 in fees.

stompix

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Let's rant a bit about this, that minimal $50, which a lot of other pools also have it unfortunately it's a turn-off, it might now be looking that bad when the mempool is at 100sat/vb but right now to accelerate a tx that already pays 8 sat/vb you're asking for the equivalent of 250sat/vb for a small tx, that's a 25x what you would get from adding a normal tx in queue, and some are even ridiculous even with their size, I mean common:

https://mempool.space/tx/520035cf9bd1e77fa4df65cbbc491c41aa0474e487be7eb4f30731684902d13d

You're asking for 0.38BTC for 1/10 of the block this when the whole next block reward is 0.23?
I understand it's a business and business do need to make money to stay afloat but you're really fleecing customers here.

Second part of the rant, do miners get any part of the acceelator fees, or do they isnetad suffer a loss since you're replacing a higher priority tx with a lower one? Wink

ABCbits

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Quote from: hi@spiderpool on May 14, 2024, 09:35:49 PM

To:@ABCbits
Another great suggestion! I have also brought it up to the technical team and we'll try to get the changes in the next update as well! Any preferred paying methods?

I don't have specific preference. But looking at these links,
https://blog.coinpayments.net/resources/crypto-payments-in-2021-which-coins-are-the-most-used-for-payments
https://bitpay.com/stats/

IMO LTC, ETH, DOGE and USDT (on different network) seems to be good idea.

Z-tight

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Quote from: hi@spiderpool on May 14, 2024, 09:35:49 PM

With regards to our hashrate we understand that we have a lower hashrate as compared to other mining pools. However, we are partnered with some of the larger mining pool but unfortunately cannot reveal the names of these mining pools for NDA purposes Sad

BUT with our partners we have a combined hashrate of 25.6% of the network.

Fair enough, however, if your tx accelerator becomes widely used at some point in time, people would still be able to detect the mining pools you cooperate with, based on the mining pools that frequently confirm their tx's when they use your paid service.

Quote from: hi@spiderpool on May 15, 2024, 03:43:04 AM

With regards to blacklisted addresses, i'll raise it to tech as well.

I hope there would be nothing of such, because if your service works with blockchain analysis companies and blacklists addresses or utxo's, that is enough reason for people not to use your service.

Topic: New Transaction Accelerator! (Read 361 times)