https://estimatefee.com/

I like this representation a little better, but w/e. If you wanna quibble 2-5, whatever.

Average blocksize in the last 3 hours: 697.35 KiB

Currently you're almost guaranteed to get into the next block with any fee that's big enough that the miners won't reject it. Blocks aren't filling up.

sp,

Ya, you believe whatever you want like everyone else who posts here. We both agree that we're not paying 10/byte. I also think that giving advice on what to pay assuming the mempool stays empty is pretty lol, along with your ridiculous path dependent post-hoc narrative.

You like waiting for confirmations, that is fine. I don't. It makes no sense for me to wait another 10min for pennies.

Mihkel, why would anyone know/care about your circumstances and what has that even got to do with SP's point? SP and aggo are obviously correct in what they have said, I don't understand your arguing, it is completely pointless.

Once a moron, always a moron.

Guy says "I bet you could get confirmed fairly quickly for 10 Satoshis/vbyte"

I correctly respond that 10 is overkill in the context of getting "confirmed fairly quickly".

I haven't given any advice at all on whether you should pay 1c or 2c or 10c on your 10BTC transaction. Obviously if you want to be 99.99999% sure your transaction doesn't get stuck when some exchange starts consolidating dust addresses you're not paying 2c for your transaction.

To confirm within 2 blocks ( ~20 min) 5 satoshis/byte
For a standard transaction with
2 inputs ~374 bytes
and 2 outputs ~1870 satoshis
~0.15 USD


is this ^ correct that it would only cost 15 cents? given all the talk recently everyone being charged $30 $40 for bitcoin translation fees? noob question sry.

Yeah. It's also less if using segwit. 2 inputs might also be a bad assumption for "standard transaction" depending on how you manage your addresses.

$30/$40 was only a reality for a moment but the BCash supporting fudders love to pretend it still is. People are getting much better about using segwit and managing their addresses to use fewer inputs in transactions. Transaction volume has also declined significantly in the past 2 months.

BTW, for anyone wondering, every single one of these sites that tell you an estimated fee in satoshis per byte to get confirmed in the next x blocks is terrible.

If you're not paying enough to get into the next block or two with very high probability, you risk getting your transaction stuck for a very long time if traffic and fees paid are trending upward (and they could get a bump upward at any time). Sites like estimatefee.com that give you an estimate for what you need to pay to get into the next 6 blocks, next 12 blocks etc. are horse****. Wallets are also terrible at estimating fees, so if you want to be smart about it you really need to understand how to read what's in the mempool and how fast transactions are being submitted and at what fees.

In general, if you're not willing to pay what it takes to get into the next block you're much better off waiting and submitting the transaction later at an educated price than you are putting a low fee in and hoping it goes through later.

What's happening with the mempool, moron?

Nooseknot coming in hot

Strong vegeta support at $9k.

But apparently 10/per is wayyyyy overkill. 2/per is correct. What is just overkill 4/5? Feel free to walk back some more tho.

That post about reading the mempool is pretty much exactly: "Once a moron, always a moron."

Reference wallet has an elegant estimation/updating system in place. So its pretty lol saying that you need to "read the mempool" if you make more than literally a dollar an hour.

But you do you!

Great, you totally whiffed by promoting the useless estimatefee.com and went and Googled a bit and found another terrible solution that literally nobody uses. It's hilarious how dumb and predictable you are. All you've done since you joined 2+2 with your 100 different accounts is talk straight out of your ass

So you run a node, don't use core, and then "read the mempool" with some bespoke tool?

Tell me more!

And now back under $10K. The recent coin price pattern after reaching the ATH of hitting lower highs and lower lows is a concern going forward should it persist.

Never got to buy second tranche, still sitting on the first one.

This move here is certainly interesting. Probably sit on my hands for a while. But price action not particularly inspiring. When I said slow down I didn't mean crash again

bitcoin gonna bitcoin, if you are long HODL

Weird, I'm still not getting confirmed quickly.

A tx I sent with 5 sats/byte fee is unconfirmed for about an hour now, I'm sure there have been at least a few blocks found.

noob Q here. I see the best wallet discussion ongoing, so I thought I'd chime in with mine.

Isn't paper wallet the most secure, if generated offline etc.?

I've been thinking of using paper wallets. Store them in a safe deposit box. I think the only real problem with this is trading/rebalancing easily/quickly. My proposed solution for that is to keep multiple paper wallets for each coin in varying quantities so that you can trade various amounts easily. Say, 50% of your bitcoin in one paper wallet, 25% in another, 12.5%, 6.25%, 3%, 2%, 1%, 0.25%, or w/e.

Is this much less convenient than hardware wallets? Is the added security worth it? Que piensan?

Much less convenient than hardware wallet if you want to move your money.

Making it too complicated make you more likely to lose your money than get it stolen.

for people who underestimate what traffic come from exchanges


If shapeshift is 2% itself, it s easy to see how the mempool can be fixed with just a few exchanges not ****ing up anymore, once Coinbase will batch and use segwit the 1MB blocksize should last a long time just from that reduction.

5 isn't currently enough. It might never get processed. This stuff changes quickly

Can it theoretically be lost forever if you set too low a fee? I once had a big transaction pending for like a full week due to extreme nittiness and was freaking out pretty hard lol

Eventually the transaction will be dropped from the mempool, then you can transmit a new transaction using the same inputs. Alternatively you could create a new transaction, using the change as an input. If that transaction has a high fee, the combined fee of the two transactions can pay for both of them, as the second one (with the high fee) is dependent on the first one, so called child-pays-for-parent. Or if the transaction had replace-by-fee enabled, it could just be replaced with a transaction with a higher fee.

Gamblor,

You should have just ignored that absurdity that stinkypete posted. Estimaation algos from most websites kinda suck, but the time it takes to look at some graphical representation of the mempool from someone else's node on someone's website and make a decent estimation is super time consuming and totally absurd at this point in time. If you have time to worry about a few pennies, you can join stinkypete in the "reading the mempool" basket of folks who don't have the money to run their own node. (But pretend like they aren't choosing from a bunch of graphical representations thrown up via other nodes.)