Why is fee still high (6000 unconfirmed transactions) - page 3.

HaXX0R1337

sr. member

Activity: 574

Merit: 252

Quote from: calkob on February 05, 2017, 06:33:07 PM

Quote from: Q? on February 05, 2017, 10:08:47 AM

mempool is practically empty now with 6600 https://blockchain.info/unconfirmed-transactions and unless they start spamming again, it will stay empty.

so why are fees still high (140 s/b)?!!

Use your own fee structure at these times and i doubt the transaction will be rejected, i have paid very little recently for non urgent transactions, yes it took 2 days to confirm but i was in no rush.

The problems comes when you are planning to withdraw funds from an exchange or a gambling site as you are not completely in control of the fees and if you are urgently in need of coins it might take a long time which is really irritating .Hope it changes for the better pretty soon.

calkob

hero member

Activity: 1106

Merit: 521

Quote from: Q? on February 05, 2017, 10:08:47 AM

mempool is practically empty now with 6600 https://blockchain.info/unconfirmed-transactions and unless they start spamming again, it will stay empty.

so why are fees still high (140 s/b)?!!

Use your own fee structure at these times and i doubt the transaction will be rejected, i have paid very little recently for non urgent transactions, yes it took 2 days to confirm but i was in no rush.

Clement Kaliyar

hero member

Activity: 1302

Merit: 532

Quote from: franky1 on February 05, 2017, 10:24:09 AM

Quote from: franky1 on December 06, 2016, 10:53:21 AM

take the way devs implemented the tx fee.. not only subverting coded methods of 'priority' which would have alleviated the war, but also using 'averages' which dont make the fee's drop reactively when demand is low. but actually keeps fee's up. even when one block is low demand.
EG take a 25 block average.. imagine first 24 are 0.0001 and the 25th is 0.0025 then look at the 'average' after that.. even if demand was near 0 and no one was pushing the fee up.... the "average" itself pushes up

yep even if blocks 26-75+ were near empty with just 2 tx's paying the estimate... the fee would rise

try it yourself. get a spreadsheet

Basically what you are trying to tell is that the core developers are trying their best to destroy what satoshi started in the first place.It is a monopoly and it will kill bitcoin in the long run.We are predicting values above $2000 and so on but transaction delays and increasing transaction fees will come and bite them in the end.

Carlton Banks

legendary

Activity: 3430

Merit: 3080

Quote from: Q? on February 05, 2017, 10:30:41 AM

when fee is still high and there are more unconfirmed transactions than a block can include if i pay less fees there are still more transactions with higher fees than mine.

Yes, but more people will begin to respond the same way, starting the process of pulling the average fees back down. You seem to want both fastest confirmation and lowest fees. You can never have both. You must balance speed and price, there is no other way.

Q?

newbie

Activity: 15

Merit: 0

Quote from: Carlton Banks on February 05, 2017, 10:15:13 AM

Just offer less, it will likely get accepted by some miner pretty quickly.

i doubt it.
when fee is still high and there are more unconfirmed transactions than a block can include if i pay less fees there are still more transactions with higher fees than mine.

eg. 8000 total tx and one block can have about 2-3000 tx and there will still be 6-7000 tx in front of me unless everyone does this.

Quote from: Raimonn on February 05, 2017, 10:26:59 AM

go spam somewhere else.

Raimonn

legendary

Activity: 1470

Merit: 1001

Quote from: Q? on February 05, 2017, 10:08:47 AM

mempool is practically empty now with 6600 https://blockchain.info/unconfirmed-transactions and unless they start spamming again, it will stay empty.

so why are fees still high (140 s/b)?!!

You can use lower fees now, using 100 s/b you transaction will be confirmed on one or two blocks (and with 80-100 s/b you can expect confirmation on 5-6 blocks). I use this web to see the optimal fee: https://bitcoinfees.21.co

franky1

legendary

Activity: 4424

Merit: 4794

Quote from: franky1 on December 06, 2016, 10:53:21 AM

take the way devs implemented the tx fee.. not only subverting coded methods of 'priority' which would have alleviated the war, but also using 'averages' which dont make the fee's drop reactively when demand is low. but actually keeps fee's up. even when one block is low demand.
EG take a 25 block average.. imagine first 24 are 0.0001 and the 25th is 0.0025 then look at the 'average' after that.. even if demand was near 0 and no one was pushing the fee up.... the "average" itself pushes up

yep even if blocks 26-75+ were near empty with just 2 tx's paying the estimate... the fee would rise

try it yourself. get a spreadsheet

Carlton Banks

legendary

Activity: 3430

Merit: 3080

If someone offered you too much money to do a job, say $5 for sharpening a pencil, would you accept? It's a market, and the reactions aren't necessarily instantaneous.

Just offer less, it will likely get accepted by some miner pretty quickly.

Q?

newbie

Activity: 15

Merit: 0

mempool is practically empty now with 6600 https://blockchain.info/unconfirmed-transactions and unless they start spamming again, it will stay empty.

so why are fees still high (140 s/b)?!!

Topic: Why is fee still high (6000 unconfirmed transactions) - page 3. (Read 2342 times)