ViaBTC accelerator minimum fee | Bitcointalksearch.org

NeuroticFish

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Although your questions are off-topic and I advise you make your own topic to clear up the things you clearly don't understand (I have a feeling you shoot in the dark and never used Electrum, for example), I'll try to answer.

Quote from: jerry0 on May 03, 2021, 02:20:17 PM

I also.. i dont want to use electrum anymore because i havent updated in a while. I know people say its safe to use it with ledger live... but i havent learned how to do that yet.

For me Electrum is safer because I understand it. Ledger Live has bugs the imho makes it less safe than Electrum; but this is a personal opinion.

Quote from: jerry0 on May 03, 2021, 02:20:17 PM

I also.. i dont want to use electrum anymore because i havent updated in a while. I know people say its safe to use it with ledger live... but i havent learned how to do that yet. So electrum is in essence a watching wallet right?

Electrum is watching wallet only if it doesn't contain your seed/private keys. Watch wallet is a wallet unable to spend from. So it depends on your setup, not your usage frequency.
If you use it with your Ledger, I'd say it's still a full wallet.

Quote from: jerry0 on May 03, 2021, 02:20:17 PM

So electrum offers you option to adjust sending fees to how much you want but nano ledger s with ledger live limits you? If so, how limit you? Like you need to put minimum fee as so and so... but electrum can go even lower?

Afaik ledger live doesn't have coin control. Also ledger live does set a RBF flag, but you cannot increase fee with Ledger Live. These are some of the limitations of Leger Live.
Sometimes Ledger live node goes out of sync, not showing the latest transactions and scaring the sh*t out of its users. This is a bug, not a limitation, but it worth mentioning.
I don't know how LL works with the fees because I've never sent a penny with that software, I've used mostly Electrum and sometimes, from mobile, Mycelium.

notblox1

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Quote from: jerry0 on May 03, 2021, 01:57:09 AM

I haven't sent btc in a while.

Quote from: jerry0 on May 03, 2021, 02:20:17 PM

i dont want to use electrum anymore because i havent updated in a while.

So all you are doing here in bitcointalk forum is talking in theoretical terms and not actually using and updating any wallets or sending bitcoins for years?
I don't understand what is the point of asking so many questions.

o_e_l_e_o

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Quote from: jerry0 on May 03, 2021, 02:20:17 PM

Okay so how much is the minimum btc one has to send then when doing a transaction of sending with nano ledger s?

The minimum you can send in a legacy transaction is 546 sats. The minimum you can send in a segwit transaction is 294 sats. The minimum fee you can set in any transaction is 1 sat/vbyte.

Quote from: jerry0 on May 03, 2021, 02:20:17 PM

Well i wanted to know what is the minimum amount i can put as sending if say i don't need to send it quickly etc.

1 sat/vbyte, although at present such a transaction will probably not propagate, and even if it does, is unlikely to confirm for weeks or even months.

Quote from: jerry0 on May 03, 2021, 02:20:17 PM

Like right now... twenty dollars would get transaction done very quickly.

Discussing fees in flat dollar amounts is meaningless. First, the fee is calculated in bitcoin, not in dollars. Second, the fee depends completely on the characteristics of your transaction. A fee of 20,000 sats might work out to 100 sats/vbyte and be a huge overpayment. The same fee of 20,000 sats might work out to less than 1 sat/vbyte and therefore have your transaction be rejected for paying too low a fee. It is impossible for anyone to tell you a total fee amount without knowing the characteristics of the transaction you are trying to make - mainly how many inputs and their type, and how many outputs and their type.

jerry0

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Okay so how much is the minimum btc one has to send then when doing a transaction of sending with nano ledger s?

Well i wanted to know what is the minimum amount i can put as sending if say i don't need to send it quickly etc. Like right now... twenty dollars would get transaction done very quickly. But im surprised less than that it would work as well. But as of now, what is the usd amount that is minimum one could do to send if they dont mind it taking one whole day for it to get through.

I also.. i dont want to use electrum anymore because i havent updated in a while. I know people say its safe to use it with ledger live... but i havent learned how to do that yet. So electrum is in essence a watching wallet right? So electrum offers you option to adjust sending fees to how much you want but nano ledger s with ledger live limits you? If so, how limit you? Like you need to put minimum fee as so and so... but electrum can go even lower?

LoyceV

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Quote from: jerry0 on May 03, 2021, 11:50:00 AM

How much btc is 10 sats/byte?

"How many km is 10 km/h?"
You can't convert this, it's a different unit.

Quote from: LoyceV on January 13, 2021, 07:13:08 AM

You have this, which is slow and annoying to use:
Image loading...

(image source)

You want this for quick easy payments:
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(image source)

Quote

Is RBF automatically enabled on nano ledger/ledger live if i never played with the settings?

Yes. But Ledger Live can't increase the fee. Electrum is more flexible, while you still sign on the Ledger to keep your funds secure).

jerry0

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Quote from: o_e_l_e_o on May 03, 2021, 03:46:18 AM

Quote from: jerry0 on May 03, 2021, 01:57:09 AM

I hear ppl talk about l0 sats but how much btc is that in decimals?

10 sats is 0.0000001 BTC. No one can tell you what the total fee necessary is without knowing the details of the transaction you are trying to make.

At the moment, a fee of around 20 sats/vbyte is necessary to try to get in to the next block, but a fee of 6 sats/vbyte will probably confirm within the next few hours. However, if you want to use ViaBTC, you need to pay more than 10 sats/byte (not vbyte, in this case). Again, no one can tell you exactly what that fee will work out to in vbytes or in total without knowing the details of your transaction.

The best thing to do is simply to enable RBF, and then you can bump the fee later if you don't get confirmed in the time frame you want.

How much btc is 10 sats/byte?

I didn't know about sats/vbyte or sats/byte etc.

So for example, say i want to send l00 dollars or l000 dollars worth of btc from nano ledger to say coinbase, what would you recommend me to put as the sending fee in nano ledger? Assuming i dont need it to get to coinbase as soon as possible etc. Is RBF automatically enabled on nano ledger/ledger live if i never played with the settings?

o_e_l_e_o

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Quote from: jerry0 on May 03, 2021, 01:57:09 AM

I hear ppl talk about l0 sats but how much btc is that in decimals?

10 sats is 0.0000001 BTC. No one can tell you what the total fee necessary is without knowing the details of the transaction you are trying to make.

At the moment, a fee of around 20 sats/vbyte is necessary to try to get in to the next block, but a fee of 6 sats/vbyte will probably confirm within the next few hours. However, if you want to use ViaBTC, you need to pay more than 10 sats/byte (not vbyte, in this case). Again, no one can tell you exactly what that fee will work out to in vbytes or in total without knowing the details of your transaction.

The best thing to do is simply to enable RBF, and then you can bump the fee later if you don't get confirmed in the time frame you want.

TryNinja

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Quote from: jerry0 on May 03, 2021, 01:57:09 AM

I hear ppl talk about l0 sats but how much btc is that in decimals?

Each transaction weights differently, which means that the fee in sats varies. Just use 10 sat/byte (or 16 sat/vByte) when sending the transaction.

jerry0

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I haven't sent btc in a while. I use a nano ledger s. Years ago i had btc in electrum and sent btc when fees were very high and i sent with very low fee but used viabtc to accelerate it for free. Recall you had to do it at the top of the hour. Is it still the same right now?

So what is the minimum fee i could put now in ledger live with the nano ledger when sending? And then using viabtc afterwards? I hear ppl talk about l0 sats but how much btc is that in decimals?

o_e_l_e_o

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Quote from: magneto on April 28, 2021, 07:18:16 PM

The transaction is RBF but I can't seem to find a way to do that within the ledger live interface.

There isn't. Ledger Live enables RBF by default, by doesn't yet provide a way to actually make an RBF replacement transaction.

However, it is very easy to set up and use Electrum as an interface for your Ledger hardware wallet. It is safe to do, does not require you to export any keys or use your seed phrase at all, and won't affect your Ledger Live wallets. You can download and verify Electrum, and then follow the instructions here (https://support.ledger.com/hc/en-us/articles/115005161925-Set-up-and-use-Electrum) to link it to your existing hardware wallet. Once you've done this, you can simply right click on the unconfirmed transaction in Electrum's interface and selecting "Increase fee".

Quote from: Quickseller on April 29, 2021, 03:53:45 AM

Years ago, 10 sat/byte was often not an unreasonable fee for a transaction to get confirmed in a modest amount of time. Today, paying that fee rate is not going to get your transaction confirmed for a long time on its own.

I think that's a bit of an exaggeration. For the majority of the last 6 months, 10 sat/byte was more than enough to get confirmed in a reasonable amount of time. There have been a couple of periods (such as the last 2 weeks, and 2 weeks around the end of February) where this has not been the case, but it certainly hasn't been years since 10 sat/byte was a reasonable fee. Before the hash rate drop off we were down at 4 sats/vbyte, and we've been confirming some 10 sats/vbyte transaction at multiple times over the last 24 hours.

Quickseller

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Quote from: NeuroticFish on April 29, 2021, 02:26:26 AM

Quote from: Quickseller on April 28, 2021, 06:36:54 PM

Quote from: NeuroticFish on April 27, 2021, 02:09:58 AM

And yeah, pay attention and use RBF Wink

If you are trying to pay a minimum amount in fees, at the expense of having to potentially wait a long time for confirmations you should use RBF, however you cannot use RBF if you want any chance of any service accepting your transaction without any confirmations (you will also need to pay a generally higher fee for 'instant acceptance').

I prefer to rely on RBF than on the benevolence of various websites which may or may not care of anything until the tx gets at least one confirmation.
Of course, in case of shops this may not be an option. Everybody has to think and know his use case.

If a site is going to accept a zero confirmation transaction, they will generally tell you in advance the requirements for them to accept it. The requirements will always include the transaction not being RBF.

Don’t get me wrong, RBF is a good feature and there are many circumstances in which it should be used, but there are also situations in which using RBF is not appropriate.

Quote from: LoyceV on April 29, 2021, 02:28:49 AM

Quote from: Quickseller on April 28, 2021, 06:36:54 PM

They force users to pay using bcash

They don't force it: their default is BCH, but they also accept BTC and LTC.

Ive never used their accelerator. I didn’t know they accept other currencies. I was going off what they posted on their website.

Quote

I would advise against relying on any free service to confirm below market fee transactions. There isn't a guarantee their service will continue being offered, and it will likely stop being if doing so stops being economically viable.

ViaBTC's transaction accelerator has been around for years, and although it gets harder to use when fees get higher, I can usually get it to work.
You could of course just keep RBF as a backup.

As transaction fees increase, the cost of running the free accelerator also increases. This is both in terms of USD and BTC.

Years ago, 10 sat/byte was often not an unreasonable fee for a transaction to get confirmed in a modest amount of time. Today, paying that fee rate is not going to get your transaction confirmed for a long time on its own. I would expect them to increase their minimum fee rate for their free service.

LoyceV

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Quote from: Quickseller on April 28, 2021, 06:36:54 PM

They force users to pay using bcash

They don't force it: their default is BCH, but they also accept BTC and LTC.

Quote

I would advise against relying on any free service to confirm below market fee transactions. There isn't a guarantee their service will continue being offered, and it will likely stop being if doing so stops being economically viable.

ViaBTC's transaction accelerator has been around for years, and although it gets harder to use when fees get higher, I can usually get it to work.
You could of course just keep RBF as a backup.

NeuroticFish

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Quote from: magneto on April 28, 2021, 07:18:16 PM

Oh well, I guess I'll just wait an eternity until the confirmations come and the mempool miraculously unclogs itself Roll Eyes

Unless you can RBF or CPFP, you will have to wait. But that "eternity" may last only until this week-end though Cheesy

Quote from: stompix on April 28, 2021, 08:07:58 PM

I have a feeling we have hit a dead end and the only way out depends on people who are not really that keen on helping out, as I was mentioning exchanges, each of them has its own plan, some have their own coin, they are slapping huge fees on BTC and zero for their chains with a purpose, not randomly.

Of course, everybody is trying to earn an extra buck if they can. But the users' pressure can do wonders; it has happened in the past, it will happen in the future.
And the Bitcoin scaling problem, while it indeed hurts, we are still one leap forward than what we had in the previous bull run. It's not what should be, I know, but still... (and Bitcoin is renown for how slow the things advance).

Quote from: stompix on April 28, 2021, 08:07:58 PM

Quote from: NeuroticFish on April 28, 2021, 03:52:03 AM

~
It's a very small cost for a huge advertising, so they pose as good guys, more potential miners hear about the pool...

Like an ad in which you advertise a 8h/day job with the mention, you pay only for 7hours as the rest is getting donated to strangers Grin

LoL! You are exaggerating, since the ratio is far from that Cheesy

and many miners won't understand nor care about that tiny difference.
On the other hand, I think that the other post with advertising BCH as payment for the acceleration, may also be a reason. Also, if the payment for acceleration is also split between miners (I simply don't know whether that happens or not), the things may be better for the miners (and for the ad too Tongue

)

Quote from: Quickseller on April 28, 2021, 06:36:54 PM

Quote from: NeuroticFish on April 27, 2021, 02:09:58 AM

And yeah, pay attention and use RBF Wink

If you are trying to pay a minimum amount in fees, at the expense of having to potentially wait a long time for confirmations you should use RBF, however you cannot use RBF if you want any chance of any service accepting your transaction without any confirmations (you will also need to pay a generally higher fee for 'instant acceptance').

I prefer to rely on RBF than on the benevolence of various websites which may or may not care of anything until the tx gets at least one confirmation.
Of course, in case of shops this may not be an option. Everybody has to think and know his use case.

stompix

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Quote from: magneto on April 28, 2021, 07:18:16 PM

Oh well, I guess I'll just wait an eternity until the confirmations come and the mempool miraculously unclogs itself Roll Eyes

Eternity? No!
You might even get it confirmed before the weekend, there was a serious drop in the number of transactions and from what I see on the graphs the 12sat/vb was briefly touched a few times, one two days at this speed and yours will be confirmed too.

Quote from: LoyceV on April 28, 2021, 11:44:52 AM

I've always said that, as a user, I don't really care how Bitcoin scales, as long as it actually does it.

This is one of the things hardcore fans refuse to accept, that people care more about how easy stuff is to use than what powers it.
I'm growing bored of the same stuff getting thrown in BTC defense like the clearing time of card payments, who the f* cares about what's happening in the system, the average user knows he swipes his card he goes out with his stuff, the bitcoin user knows he has to postpone transactions if he doesn't want to pay 20$ for it, and you can't tell this to people indefinitely.

I have a feeling we have hit a dead end and the only way out depends on people who are not really that keen on helping out, as I was mentioning exchanges, each of them has its own plan, some have their own coin, they are slapping huge fees on BTC and zero for their chains with a purpose, not randomly.

Quote from: NeuroticFish on April 28, 2021, 03:52:03 AM

~
It's a very small cost for a huge advertising, so they pose as good guys, more potential miners hear about the pool...

Like an ad in which you advertise a 8h/day job with the mention, you pay only for 7hours as the rest is getting donated to strangers Grin

Quickseller

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Quote from: magneto on April 28, 2021, 07:18:16 PM

I have precisely the same problem as you.

Sent a transaction with 11 sat/byte from a Ledger wallet and tried to accelerate it with ViaBTC. Came back with the insufficient fee prompt.

The transaction is RBF but I can't seem to find a way to do that within the ledger live interface. Oh well, I guess I'll just wait an eternity until the confirmations come and the mempool miraculously unclogs itself Roll Eyes

You can always create a CPFP transaction to increase the fee of the original transaction.

If you are trying to send your bitcoin to cold storage, it would probably be better to have it sent directly into cold storage so you aren’t sending bitcoin to yourself when fees are high.

magneto

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I have precisely the same problem as you.

Sent a transaction with 11 sat/byte from a Ledger wallet and tried to accelerate it with ViaBTC. Came back with the insufficient fee prompt.

The transaction is RBF but I can't seem to find a way to do that within the ledger live interface. Oh well, I guess I'll just wait an eternity until the confirmations come and the mempool miraculously unclogs itself Roll Eyes

Quickseller

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Quote from: NeuroticFish on April 27, 2021, 02:09:58 AM

And yeah, pay attention and use RBF Wink

If you are trying to pay a minimum amount in fees, at the expense of having to potentially wait a long time for confirmations you should use RBF, however you cannot use RBF if you want any chance of any service accepting your transaction without any confirmations (you will also need to pay a generally higher fee for 'instant acceptance').

Quote from: LoyceV on April 28, 2021, 01:14:23 AM

Quote from: stompix on April 27, 2021, 05:48:53 PM

ViaBtc would include transactions with 10-20satb/b and ignoring some worth 100sat/b, how much is pretty hard to approximate as those 100 transactions could mean anything, simple 1inputs 2 output tx or huge ones but even with a 10-15$ per tx lost they would lose 1000$, 24 hours, that's around $25k minimum, could be far more, depending on if they have a limit in the size of the tx they accept.

So they're either using it to advertise their paid accelerator, or just to advertise their mining pool. Either way, it must be worth it in some way for them.

I think viaBTC is trying to promote the use of bcash with their acceleration service. They force users to pay using bcash, and the acceleration website itself gives their version of the "benefits" of using bcash.

I would advise against relying on any free service to confirm below market fee transactions. There isn't a guarantee their service will continue being offered, and it will likely stop being if doing so stops being economically viable.

LoyceV

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Quote from: pooya87 on April 28, 2021, 05:43:47 AM

They are also advertising the shitcoin called BCash and attack bitcoin a little bit if you read the text on the acceleration page.

I can't really blame them to poke at Bitcoin a bit:

Quote from: https://www.viabtc.com/tools/txaccelerator/

a pending transaction caused by crowded BTC network or low miner fees

It is correct, the Bitcoin network is crowded. If it wouldn't be, we wouldn't be reading the ViaBTC Accelerator page.

Then they continue with "the key to solving jam problem is to increase or even remove block size limit" (which is debatable, especially if you want to grow more than just a couple times more transactions) and "BCH ~ much lower fees". I've always hated full Bitcoin blocks and the high fees it causes, as I think it restricts Bitcoin's growth and adoption.
I've always said that, as a user, I don't really care how Bitcoin scales, as long as it actually does it.
I also hate having to use altcoins or Forkcoins for certain payments because I'm not willing to spend more on fees than my transaction is worth. Every time I do that, it feels like a missed opportunity for Bitcoin.

I do love using LN whenever possible though, and that's something BCH can never do!

o_e_l_e_o

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Quote from: Lucius on April 28, 2021, 09:39:10 AM

Do you know of any popular crypto service that doesn't promote that so-called fake Bitcoin one way or another? It is supported by all crypto exchanges, PayPal, Grayscale and anywhere else where you can find Bitcoin for trading or as a payment option.

You need to differentiate between promoting and accepting. Lots of places accept Bcash, because it boosts their profits. Most crypto exchanges and other sites like PayPal don't actually care in the slightest about the principles of bitcoin, why it was created, what it stands for, etc. They also don't care that Bcash is a centralized scam which has been successfully 51% attacked on more than one occasion, or that its entire business model rests on pretending to be bitcoin and tricking newbies in to buying it by mistake. All they actually care about is their own profits and bottom line. If they can make a profit from trading fees of people getting rid of this scam coin, then they are more than happy to accept it, just as lots of exchanges accept other centralized scam coins like EOS and XRP.

Lucius

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Quote from: pooya87 on April 28, 2021, 05:43:47 AM

They are also advertising the shitcoin called BCash and attack bitcoin a little bit if you read the text on the acceleration page.

Do you know of any popular crypto service that doesn't promote that so-called fake Bitcoin one way or another? It is supported by all crypto exchanges, PayPal, Grayscale and anywhere else where you can find Bitcoin for trading or as a payment option.

I just know that I have saved a lot on fees over the years using this service, and that it is the only one that offers free acceleration that really works.

Topic: ViaBTC accelerator minimum fee (Read 344 times)