Recommended Fee & Slider | Bitcointalksearch.org

Abdussamad

legendary

Activity: 3682

Merit: 1580

Quote from: imadmirer on June 09, 2017, 06:02:19 PM

What is the recommended network fee and how to know it as it changes daily?

When you select dynamic fees electrum looks up the fees automatically and uses them. You should let it do that and not worry about tx fees or you'll end up with stuck transactions.

imadmirer

full member

Activity: 340

Merit: 124

I have the RBF checkbox enabled, so does that mean if I choose a lower fee like 70 sat/byte to test it, and if it takes a lot of time, can I re-select a higher fee like the recommended one and it does go this time?

I am still not sure what to input, 70 sat/ byte or the recommended dynamic fees for 25 blocks in electrum?

BitcoinNewsMagazine

legendary

Activity: 1806

Merit: 1164

Make sure you have RBF enabled and send the transaction replaceable so if you choose too low a fee you can just click on the transaction and bump the fee up. Then if you cheap out on the fee you have an out.

imadmirer

full member

Activity: 340

Merit: 124

What is the recommended network fee and how to know it as it changes daily?

For example, my transaction size = 192 bytes with 1 input/output.

In electrum2.8.3 in the Send screen, there's the Fee Slider.

I dont mind waiting for 25 blocks, and I have chosen the Fee Slider to the left most side. And I checked the dynamic fees option.

When I calculate, for my 192 bytes transaction it shows in the preview 294656 sat / kb = around 294 sat / byte.

Is this fine, or do I need to chose the middle of the Fee slider - 5 blocks option? Or should I input more sat in the edit box?

Waiting for max 12 hours to 1 day is fine with me, now what should I select?

Topic: Recommended Fee & Slider (Read 504 times)