Position in Mempool meaning | Bitcointalksearch.org

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: tarball on June 10, 2018, 01:17:52 PM

'Position in mempool: 2.44MB from tip.'

here is the closest visualization of this that i could find:
it shows 2.439 (~2.44) MB of transactions paying 200, 199,198,...,20,19,...,10,...,4 satoshi/byte fees. and when a block is found it can only contain a little more than 1 MB of those and miners will prefer the higher paying transactions. so you have about 2.44 MB in front of you.

tarball

jr. member

Activity: 98

Merit: 5

Quote from: HCP on June 10, 2018, 05:14:59 PM

ps. you set your fee estimation to "mempool" didn't you?

Yes I did.

HCP

legendary

Activity: 2086

Merit: 4361

It is simply a calculation of how far from the "top of the pile" your transaction is from a sats/byte fee standpoint... ie. how many blocks worth of transactions have a higher fee than you.

Suppose the current mempool was 20 megabytes... if it is 2.44MB, then there is 2.44 megabytes worth of transactions that have a higher fee than you (or approximately 2 to 2.4 blocks worth of transactions with a higher fee) and around 17.5 megs of transactions that are at the same or lower fee.

It's basically doing the same as looking at the numbers on the right hand side of this chart: https://btc.com/stats/unconfirmed-tx

ps. you set your fee estimation to "mempool" didn't you?

tarball

jr. member

Activity: 98

Merit: 5

In electrum 3.1.3, when I go to the details of a transaction I just created, it says 'Position in mempool: 2.44MB from tip.' What does this mean? I haven't seen this in older versions of electrum. Thanks in advance.

Topic: Position in Mempool meaning (Read 280 times)