[img height=150]https://bitcoindata.science/api/bitcoinfees.php[/img][img]https://bitcoindata.science/api/chart.php[/img]Anyone can use those images, just use the codes above. Data is always updated.Great tool and I like the chart as it summaries what's going on with Bitcoin transaction fee.
(https://bitcoindata.science/bot/chart.php) (https://bitcoindata.science/bitcointalk-api.html#bitcoin-fees)I was wondering about the line below, isn't it supposed to be 0 sat/vB, as this almost always happens when two blocks are mined with a relatively short time interval, so the block is broadcast without transaction fees?
Welcome to [Huge List] Bitcoin Helpful Links/ Tools (https://www.altcoinstalks.com/index.php?topic=315152.0)with such lists we will have a new Ratimov
I was wondering about the line below, isn't it supposed to be 0 sat/vB, as this almost always happens when two blocks are mined with a relatively short time interval, so the block is broadcast without transaction fees?Only Mining pools can add their own transactions without any fee, 0 sat/vbyte is possible but as normal Bitcoin users, you can not use that fee rate and get confirmations nowadays.
with such lists we will have a new RatimovRatimov/ Symmetrick is not here and in Bitcointalk, already RIP.
I'd like to know did you use data from mempool.space to make this chart, as I recalled you did it with your previous tools.
Or you actually run your Bitcoin full node 24/7 and use it for your tools nowadays?
I was wondering about the line below, isn't it supposed to be 0 sat/vB, as this almost always happens when two blocks are mined with a relatively short time interval, so the block is broadcast without transaction fees?
That is a tool, nice work again ;)Yeah, this is needed.
I don't know if you may have overlooked it, but it would also be handy to display the time on a horizontal line on this chart. It would make reading the chart much easier.
also, not sure why don't you add a source (bitcoindata.science/API for example) to your graphics, maybe even a link if possible.
It's crazy about the mempool and fees these days. They had finally come down to about 30 sats/vByte and between Saturday and Sunday 100,000 transactions were dumped on the mempool, raising the fees above 200 sats/vByte. Since then it seems that nobody is spaming the mempool and both pending transactions and fees are gradually dropping, but it has seemed like a roller coaster over the last few days.Its not just for few days but since last year december that the mempool is roller coaster I manage to customized my fee once and confirmed faster and the next time i tried it stocked up to 5 days same sats/vByte that i used , We don't know till when this will run because we have had this in the past but not as long as we are experiencing now , even the free acceleration from viaBtc is been abused by Bot that we cannot use their free service as its always slots full
I think you are correct. I will fix that! Coinbase have 0 sat/vbyte feesDid you make any changes? It doesn't appear for me.
[img]https://bitcoindata.science/bot/chart.php[/img]Did you make any changes? It doesn't appear for me.
[img height=150]https://bitcoindata.science/api/bitcoinfees.php[/img]Did you make any changes? It doesn't appear for me.
The tool is designed so that the image always shows the current fee. The moment you reloaded the page or post where it was shared, regardless of when it was posted. Also, you don't need to use the "code" tag.
So for example, this (posted without a code tag)Code: [Select][img height=150]https://bitcoindata.science/api/bitcoinfees.php[/img]
will show like this (you will see that the same values are here and in the first bitmover's post)
(https://bitcoindata.science/api/bitcoinfees.php)
I suggest you visit https://bitcoindata.science for more info
I made some changes in the chart, as you suggested @examplens. Now I added my domain name, I will also add the dates in the x axis soon.
You can check in the OP
Somehow we all agreed that the 40 sat/vb fee is acceptable as usable. It would be easier to follow because a little while ago there was a short jump to 360, which significantly affects the appearance of the chart.
Oh, Thanks bitmover. I thought you didn't create such a thread here and I was saying this on another thread where stompix informed me that you have created this thread already. I guess the idea of Feebuddy won't work there. What do you think about it? We have been expecting a telegram bot like TryNinja's super notifier bot, but we haven't seen anything like that yet.
I guess I have seen a discussion somewhere and someone was trying to create a bot. Was it you or examplens? I don't remember exactly. But, It would be great if someone can manage create a teegram bot.
2 months ago I would never send a transaction for 40 sat/vB. I would pay at most 10.
Things changed... I hope fees will go back to normal...
So you trading it now ??? because it even more, the mempool keeps getting more congested day by day and the fee kept rising because they just want it done :P. Currently, what's Average fee you're paying/vB
So you trading it now ??? because it even more, the mempool keeps getting more congested day by day and the fee kept rising because they just want it done :P. Currently, what's Average fee you're paying/vB
I can tell you didn't follow the mempool before saying that. The mempool is in constant ups and downs lately, and just as three days ago there was a spike and fees went up to 200 sats/vByte they are now at more reasonable rates of around 50 sats/vByte. In fact, it has been having these ups and downs for some time now. I illustrate this with an image of unconfirmed transactions from mempool.observer:
Yeah I didn't lol :D
I can tell you didn't follow the mempool before saying that. The mempool is in constant ups and downs lately, and just as three days ago there was a spike and fees went up to 200 sats/vByte they are now at more reasonable rates of around 50 sats/vByte. In fact, it has been having these ups and downs for some time now. I illustrate this with an image of unconfirmed transactions from mempool.observer:
---
Do you remember that our beloved LoyceV has a thread named Mempool is empty, consolidate your tx or something like that. I guess that thread has no purpose at this moment. LOL. I hope I will get a notification one day that LoyceV posted again, and it's time to consolidate our TXs again! Ahhhhh
(https://bitcoindata.science/api/bitcoinfees.php)
I used to think 20 sats/vB was expensive. But now I see 40 sats/vB is cheap. Because now we've kept seeing costs keep circling between 40 to 200.
I hope things return to normal and I miss transactions with fees of 6 to 10sats/vB. Now I'm even starting to doubt that we'll ever see such cheap costs again. :'(
How happy I am to see fees reduced again, even though they are still high compared to fees a few months ago, but it would be very good if they remained constant at this rate. I expect that this would be satisfactory for both users and miners.
Last year, I actually still had no problem with the fee increases that continued to occur. Because last year there was a free Accelerator of 100 tx every hour from ViaBTC. But now I can no longer use the accelerator because the free slots have been reduced to 20 tx per hour and even then they always run out in a few seconds. Maybe by bots or maybe because many people use it.(https://bitcoindata.science/api/bitcoinfees.php)
I used to think 20 sats/vB was expensive. But now I see 40 sats/vB is cheap. Because now we've kept seeing costs keep circling between 40 to 200.
I get discouraged about transaction when I see high sats needed to get transactions included in the next block because to me, it's like we are spoiling miners. ;D I get it that they need to be compensated for the security level of bitcoin they are maintaining but if they continue like this, they will be the one having all the bitcoin.
yeah I think you are right. Because up to now, the number of people using Brc-20 doesn't seem to have decreased much. But instead it continues to grow. Moreover, many Cex have registered trading in coins from the BRC20 network.I hope things return to normal and I miss transactions with fees of 6 to 10sats/vB. Now I'm even starting to doubt that we'll ever see such cheap costs again. :'(
I don't think such will return soon. We have halving coming up and not like Ordinals are cooling off or disappearing from the protocol now. I'm very sure that if the halving is approaching, we will have more of them influence by some miners to increase their profits, that I'm very sure of and what they are going to do to increased their revenues.
Last year, I actually still had no problem with the fee increases that continued to occur. Because last year there was a free Accelerator of 100 tx every hour from ViaBTC. But now I can no longer use the accelerator because the free slots have been reduced to 20 tx per hour and even then they always run out in a few seconds. Maybe by bots or maybe because many people use it.
THe current fee rate is too high! It will cost about 3-4 USD to send each input (not the overall transaction).My solution for this issue is for campaign managers to adopt Liquid Network wallets (Aqua, Jade, Green wallet, ledger) and pay participants with L-BTC.
So if you received 30 usd per week in a campaign, to send 100 you would need to spend about 9 usd which is quite high
Maybe you can include additional fees in your bitcoindata mempool observer for Liquid network and L-BTC:
https://liquid.network/ (https://liquid.network/)
If the goal is to promote Liquid, that's fine. But otherwise i don't think it's very useful since that website shows most blocks is almost empty. It means people could just set 0.1 sat/vB (which is minimum fee rate[1]). Although as reminder Liquid use Confidential Transaction which leads to bigger transaction size[2].Goal is to show difference compared to main chain Bitcoin, and why it could be a good idea to use Liquid L-BTC for frequent campaign campaign payments.
THe current fee rate is too high! It will cost about 3-4 USD to send each input (not the overall transaction).You are right, for small amounts, the fees are still high, such as for campaigns in the forum. If you want to send the payment every week, it will cost you a fee of about $9 per month, as you mentioned, so I will not send it every week, but rather I will send it once a month to reduce the fees.
So if you received 30 usd per week in a campaign, to send 100 you would need to spend about 9 usd which is quite high
yeah, that's right, friend. Now I've even given up on using the free acceleration from ViaBTC. Because it is no longer possible to compete with bots which are always faster than us who only input manually.Last year, I actually still had no problem with the fee increases that continued to occur. Because last year there was a free Accelerator of 100 tx every hour from ViaBTC. But now I can no longer use the accelerator because the free slots have been reduced to 20 tx per hour and even then they always run out in a few seconds. Maybe by bots or maybe because many people use it.
Yes, the ViaBTC accelerator is a useful site, especially when transaction fees on the BTC network become insanely expensive. As far as I know, this site reduced the hourly limit because of the influx of bots, and the problem is that it only made the situation worse because now it is completely unrealistic for regular users to use this service. Now, bots literally empty the current limit in a fraction of a second, and it is clear that an ordinary user won't be able to press the button and pass the captcha in such a short time.
(https://bitcoindata.science/api/bitcoinfees.php)
I used to think 20 sats/vB was expensive. But now I see 40 sats/vB is cheap. Because now we've kept seeing costs keep circling between 40 to 200.
I hope things return to normal and I miss transactions with fees of 6 to 10sats/vB. Now I'm even starting to doubt that we'll ever see such cheap costs again. :'(
yeah, that's right, friend. Now I've even given up on using the free acceleration from ViaBTC. Because it is no longer possible to compete with bots which are always faster than us who only input manually.Last year, I actually still had no problem with the fee increases that continued to occur. Because last year there was a free Accelerator of 100 tx every hour from ViaBTC. But now I can no longer use the accelerator because the free slots have been reduced to 20 tx per hour and even then they always run out in a few seconds. Maybe by bots or maybe because many people use it.
Yes, the ViaBTC accelerator is a useful site, especially when transaction fees on the BTC network become insanely expensive. As far as I know, this site reduced the hourly limit because of the influx of bots, and the problem is that it only made the situation worse because now it is completely unrealistic for regular users to use this service. Now, bots literally empty the current limit in a fraction of a second, and it is clear that an ordinary user won't be able to press the button and pass the captcha in such a short time.
Luckily now the fees are starting to get lower again within a few days. But I'm not sure it will last long.
(https://talkimg.com/images/2024/01/20/3xT41.png)
If you send $300 a fee of $3 is quite acceptable, within the limits of 1%-5%, which could be considered acceptable.The problem is that right now each UTXO will cost about 3$ to send, which is quite high.
Well transaction fees keep fluctuating. And yes, it all depends on transaction density at certain hours. So now we have to start to understand at what times transaction density decreases accompanied by a decrease in transaction costs. So checking the mempool in real time can also help. And yes, topics like this can also help by notifying each other when fees start to fall.yeah, that's right, friend. Now I've even given up on using the free acceleration from ViaBTC. Because it is no longer possible to compete with bots which are always faster than us who only input manually.
Luckily now the fees are starting to get lower again within a few days. But I'm not sure it will last long.
(https://talkimg.com/images/2024/01/20/3xT41.png)
It started to go up at least 47 sat/vB currently from the 30's that we have seen in the last 12 hours or so. And just like the price, it a continuous up and down. Maybe there are time frame that there are no activity whatsoever that's why the transaction fee is down.
And then active hours means fees are bumping up. I do hope that we can see 1 sat/vB, but I doubt it though. The ordinals are going to continue and so mempool will be clogged from time to time.
The problem is that right now each UTXO will cost about 3$ to send, which is quite high.Did you read what I wrote before about L-BTC as alternative?
For example, we receive less than $50 in signature campaigns. We would need at least 6-10 inputs to make a transaction of 300 now, which would cost about 12-30 usd
The problem is that right now each UTXO will cost about 3$ to send, which is quite high.Did you read what I wrote before about L-BTC as alternative?
For example, we receive less than $50 in signature campaigns. We would need at least 6-10 inputs to make a transaction of 300 now, which would cost about 12-30 usd
This would easily fix that issue and it would be even better for smaller transactions like tips/donations and it would give better privacy.
I would like to see this added to bitcoindata.science if possible :)
But how to convert L-BTC to BTC? AFAIK, only Aqua wallet do that.
Just like in bitcointalk, I created this thread so we can observe the mempool.I personally really like this tool a lot. Through this you can easily understand about the gas fee of Bitcoin. For which you don't have to spend much. You can see the data nicely with horizontal lines there if you want.
This images always show the mempool in realtime:
Recommended fees:
(https://bitcoindata.science/api/bitcoinfees.php) (https://bitcoindata.science/bitcointalk-api.html#bitcoin-fees)Code: [Select][img height=150]https://bitcoindata.science/api/bitcoinfees.php[/img]
(https://bitcoindata.science/api/chart.php) (https://bitcoindata.science/bitcointalk-api.html#bitcoin-fees)Code: [Select][img]https://bitcoindata.science/api/chart.php[/img]
Anyone can use those images, just use the codes above. Data is always updated.
But how to convert L-BTC to BTC? AFAIK, only Aqua wallet do that.
You also can use exchange, although it's not practical if you deal with small amount of L-BTC due to BTC withdraw fees.
But how to convert L-BTC to BTC? AFAIK, only Aqua wallet do that.[/size][/size]
Fees are basically 0 sat/vbyte in all blocks lol[/size]
And which exchange is that?[/size]
I just looked at coinmarketcap.com and found d nothing
https://coinmarketcap.com/currencies/liquid-network/ (https://coinmarketcap.com/currencies/liquid-network/)
I discovered a list of exchanges here
Only small ones
https://liquid.net/ (https://liquid.net/)
Best to do is to swap to usdt using aqua
Just like in bitcointalk, I created this thread so we can observe the mempool.Nice work like it here and there.
This images always show the mempool in realtime:
Recommended fees:
(https://bitcoindata.science/api/bitcoinfees.php) (https://bitcoindata.science/bitcointalk-api.html#bitcoin-fees)Code: [Select][img height=150]https://bitcoindata.science/api/bitcoinfees.php[/img]
(https://bitcoindata.science/api/chart.php) (https://bitcoindata.science/bitcointalk-api.html#bitcoin-fees)Code: [Select][img]https://bitcoindata.science/api/chart.php[/img]
Anyone can use those images, just use the codes above. Data is always updated.
But how to convert L-BTC to BTC? AFAIK, only Aqua wallet do that.
You also can use exchange, although it's not practical if you deal with small amount of L-BTC due to BTC withdraw fees.
And which exchange is that?
I just looked at coinmarketcap.com and found d nothing
https://coinmarketcap.com/currencies/liquid-network/
I discovered a list of exchanges here
Only small ones
https://liquid.net/
Best to do is to swap to usdt using aqua
I am thinking price of fees backed off for four reasons.
ETF sell off.
Ordinals reduced.
Btc price dropped
Large Texas mines got back on line. Power was diverted from mines when it was cold in Texas.
This has lifted the difficulty rate and blocks are mined faster right now than last week.
okay reading it now. I will add to this post in a few minutesBut how to convert L-BTC to BTC? AFAIK, only Aqua wallet do that.
You also can use exchange, although it's not practical if you deal with small amount of L-BTC due to BTC withdraw fees.
And which exchange is that?
I just looked at coinmarketcap.com and found d nothing
https://coinmarketcap.com/currencies/liquid-network/
I discovered a list of exchanges here
Only small ones
https://liquid.net/
Best to do is to swap to usdt using aqua
Check this Blockstream help guide, https://help.blockstream.com/hc/en-us/articles/900001387106 (https://help.blockstream.com/hc/en-us/articles/900001387106). But that guide is outdated since few website i checked doesn't show L-BTC as trade/exchange option.
I would put in $500 usd to kraken
I would buy $100 usd in BTC monthly on kraken
If I need to do small payments of btc I would use kraken LN wallet.
This is a chump change solution with under $500 usd at risk at all times.
I would still have a wallet with my major amount of coin offline
I am well aware that the $500 on kraken is at risk
Check this Blockstream help guide, https://help.blockstream.com/hc/en-us/articles/900001387106 (https://help.blockstream.com/hc/en-us/articles/900001387106). But that guide is outdated since few website i checked doesn't show L-BTC as trade/exchange option.okay reading it now. I will add to this post in a few minutes
After checking it a bit I would not do L-BTC
If I want to do small btc moves I would do kyc with kraken because kraken will allow me access to its LN wallet.
I would put in $500 usd to kraken
I would buy $100 usd in BTC monthly on kraken
If I need to do small payments of btc I would use kraken LN wallet.
This is a chump change solution with under $500 usd at risk at all times.
I would still have a wallet with my major amount of coin offline
I am well aware that the $500 on kraken is at risk
Today mempool is showing normal, minimum 28, medium 29 and maximum 33. At the time I'm writing this post, if someone wants to transfer bitcoins, they may have to pay a transaction fee of $3 to a maximum of $5 per transfer. To catch it is normal compared to other times, other times normally we used to use 70 to 80 mempool to transfer bitcoins now it is between 28 to 30.It is now at 23 sats/vB for 66 minutes and I missed this lowest priority for my 35 sats/vB transaction that has been cancelled. Patience really is a virtue and I am not having it as all I thought was that fees will keep on going up. 😅
However, I think l-btc might be a better solutionIt is better in some cases, but better check out rates in TDEX app, they could be offering lower fees sometimes than directly in Aqua wallet, for larger amounts when swapping from BTC to L-BTC.
You can swap L-BTC to bitcoin or USDT using aqua wallet. I think it is safer to hold L-BTC in aqua than to hold btc in binance
It is better in some cases, but better check out rates in TDEX app, they could be offering lower fees sometimes than directly in Aqua wallet, for larger amounts when swapping from BTC to L-BTC.
I am not supporting centralized exchanges in any way, but some of them support Liquid network now, like Bitfinex (no withraw fee for L-BTC), BTSE, BTCTurk, etc.
Tdex and exch.cx are also centralized. They are just able to bypass regulations for now. Like shapeshif, changelly and other services in the past..I think that TDEX aka TrueDEX is p2p decentralized exchange, unlike other exchanges you mentioned ;)
Common guys, wake up!!!!
We hit again 500sat/b!
You see , this happens when you don't have a fee buddy to keep things up to date! ;D
We're back at 10$ for next block, although , that is as always misleading because if you happen to nee two inputs, well, you're going to pay with something else.
Saying that $10-$20 is a lot doesn't make sense if you send $1000 is 1sat/vB.
Let's hope it continues.
Several times I've had the opportunity to consolidate my wallet for less than 5sat/b and I didn't do it
I waited too long thinking it would take too long for the rates to increase that much
Today I need to consolidate and I don't want to spend more than 20 dollars hehehe
The good thing about this is that we're in forced HODL hehehe
(https://www.talkimg.com/images/2024/02/05/vGDCH.jpeg)Yeah... but now it's February, and the fees aren't as high anymore. The times when fees were sky-high are over, and we're no longer forced to HODL. The congestion has eased, and this is good news for all of us because we can transfer Bitcoin to other wallets quickly and more affordably.
High Transfer Fee
By the end of December 2023, Bitcoin's transaction fees had increased so much that I could never have imagined. I was surprised to see this huge transaction fee and canceled the transaction.
372sat/B --- 443sat/B
21.54$ Fee - 25.65$ Transfer Fee..
It will go down a bit but not with the same pace, plus once it hits under 20sat/vb expect a ton of incoming tx as there are thousands that start sending them again after being purged from most mempools.
Several times I've had the opportunity to consolidate my wallet for less than 5sat/b and I didn't do it
I waited too long thinking it would take too long for the rates to increase that much
Today I need to consolidate and I don't want to spend more than 20 dollars hehehe
The good thing about this is that we're in forced HODL hehehe
I have a transaction that I sent about a week ago, just at 19 sats/vB and it hasn't been purged, do you have any idea why? I thought there had been a purge of transactions below 20.
Common guys, wake up!!!!
We hit again 500sat/b!
You see , this happens when you don't have a fee buddy to keep things up to date! ;D
We're back at 10$ for next block, although , that is as always misleading because if you happen to nee two inputs, well, you're going to pay with something else.
Several times I've had the opportunity to consolidate my wallet for less than 5sat/b and I didn't do it
I waited too long thinking it would take too long for the rates to increase that much
Today I need to consolidate and I don't want to spend more than 20 dollars hehehe
The good thing about this is that we're in forced HODL hehehe
(https://www.talkimg.com/images/2024/02/05/vGDCH.jpeg)
High Transfer Fee
By the end of December 2023, Bitcoin's transaction fees had increased so much that I could never have imagined. I was surprised to see this huge transaction fee and canceled the transaction.
372sat/B --- 443sat/B
21.54$ Fee - 25.65$ Transfer Fee..
Several times I've had the opportunity to consolidate my wallet for less than 5sat/b and I didn't do it
I waited too long thinking it would take too long for the rates to increase that much
Today I need to consolidate and I don't want to spend more than 20 dollars hehehe
The good thing about this is that we're in forced HODL hehehe
Yeah... but now it's February, and the fees aren't as high anymore. The times when fees were sky-high are over, and we're no longer forced to HODL. The congestion has eased, and this is good news for all of us because we can transfer Bitcoin to other wallets quickly and more affordably.It seems to me, on the contrary, that transfer prices are going to go up. Although, if you look at the ETH network - and what was the fee for 1 transfer (from 15$ to 45$) it was really expensive. Maybe if the btc rate drops a bit (+ there will be less demand) from users = we will see a decrease in the transfer price.
In the last few days, a transaction fee of 24 sat/vB seems reasonable to use. I'm confident that a fee of 10 sat/vB will soon be achievable in the coming months.
Several times I've had the opportunity to consolidate my wallet for less than 5sat/b and I didn't do itWell we have so a little decrease in fees as I have send 200 dollars earlier ? having 5 dollars fee so for me this is considerable amount to pay.
I waited too long thinking it would take too long for the rates to increase that much
Today I need to consolidate and I don't want to spend more than 20 dollars hehehe
The good thing about this is that we're in forced HODL hehehe
It seems to me, on the contrary, that transfer prices are going to go up.
Below, in the photo, you can see the stats: Transaction volume on BTC network, hits highest since September 2022 - The Block(https://i.ibb.co/0hZkxZc/photo-2024-02-05-14-13-55.jpg)
High Transfer Fee
By the end of December 2023, Bitcoin's transaction fees had increased so much that I could never have imagined. I was surprised to see this huge transaction fee and canceled the transaction.
372sat/B --- 443sat/B
21.54$ Fee - 25.65$ Transfer Fee..
Ahhh, for a moment you took my breath away, on the image my reaction was ohhh shit it's rising against these shity ordinals and you can imagine what else I can think on the same time after exploring such high fees again.When transaction costs are very expensive, you can use other alternative coins, such as altcoins that have a BSC network or Sol Network, but when you only have Bitcoin in your electrum wallet, there is no other choice but to wait for transaction costs to decrease because the electrum wallet only provides a few options. The network method used to send Bitcoins, whereas if you choose the lowest fee, the transaction can be canceled or wait more than 24 hours.
After a few moments, my breath was back hehe, as it was an old case discussion with the current transaction fees I feel safe for now and it's going to rise over time, and I'm ok with it because with the concept of if you need to class security, you need to pay and for my assets security and networks transparency and decentralization.
Hehe, take a snapshot of the current transection cost.... if you want to move around on the network make sure to do it now... a good time...
Well we have so a little decrease in fees as I have send 200 dollars earlier ? having 5 dollars fee so for me this is considerable amount to pay.
Hodling must not be forced mate , we are here in our own desire and dedication so try not to become greed and stupid.
Well we have so a little decrease in fees as I have send 200 dollars earlier ? having 5 dollars fee so for me this is considerable amount to pay.
Hodling must not be forced mate , we are here in our own desire and dedication so try not to become greed and stupid.
Hehe, don't worry, the forced HODL part is just a joke ;)
This is a wallet I've had for several years and I need to consolidate, so it ended up being quite expensive to do now, I'll have to wait, that's why I made the joke
I miss the 2sat/B days ;D
Transactions are not expensive anymore. You can get a 23 sat vB confirmed within some hours, which is about 2 usd.Actually, when you want to make a transaction using Bitcoin, you have to look at your needs first. When you need Bitcoin to make a transaction quickly, it can increase transaction costs, but if you are willing to wait for the Bitcoin to be sent in a few minutes, maybe you can use vB 30. The sending cost is a little different, but it provides a fairly efficient delivery effect.
Not as cheap as 0.2 usd from 2 sat vB times ... but fees are getting lower.
Ahhh, for a moment you took my breath away, on the image my reaction was ohhh shit it's rising against these shity ordinals and you can imagine what else I can think on the same time after exploring such high fees again.When transaction costs are very expensive, you can use other alternative coins, such as altcoins that have a BSC network or Sol Network, but when you only have Bitcoin in your electrum wallet, there is no other choice but to wait for transaction costs to decrease because the electrum wallet only provides a few options. The network method used to send Bitcoins, whereas if you choose the lowest fee, the transaction can be canceled or wait more than 24 hours.
After a few moments, my breath was back hehe, as it was an old case discussion with the current transaction fees I feel safe for now and it's going to rise over time, and I'm ok with it because with the concept of if you need to class security, you need to pay and for my assets security and networks transparency and decentralization.
Hehe, take a snapshot of the current transection cost.... if you want to move around on the network make sure to do it now... a good time...
~
This was just a spike. In a few minutes fees were normal again.
Well we have so a little decrease in fees as I have send 200 dollars earlier ? having 5 dollars fee so for me this is considerable amount to pay.
Hodling must not be forced mate , we are here in our own desire and dedication so try not to become greed and stupid.
Hehe, don't worry, the forced HODL part is just a joke ;)
This is a wallet I've had for several years and I need to consolidate, so it ended up being quite expensive to do now, I'll have to wait, that's why I made the joke
I miss the 2sat/B days ;D
Transactions are not expensive anymore. You can get a 23 sat vB confirmed within some hours, which is about 2 usd.
Not as cheap as 0.2 usd from 2 sat vB times ... but fees are getting lower.
Hmm, got it I think you are trying to help me with the alternative payment mode but I was specific for the Bitcoin network because if a person owns Bitcoin only in whatever wallet he's using he needs to go with the Bitcoins network only, traders can use this strategy when they are making cross exchange trades to save network fees.In my opinion, some Bitcoin wallets provide very expensive transaction fees, and when that happens, there is no other choice but to wait until transactions on the blockchain network are not too busy anymore, or maybe you can use a computer and connect the wallet you are using using Electrum and try looking for the cheapest cost with Electrum installed on the PC.
But for a Bitcoin holder, it doesn't matter whether other network costs are lower or higher. There's another option that we can use the pegged Bitcoins to save on the transfer but as I said for a Bitcoiner he might not choose the pegged Bitcoin due to the high risks involved. This is a proven fact that with the evolution of Bitcoin the network fees will go higher until we propose any other solution and belive me L2's are non acceptable.
Hmm, got it I think you are trying to help me with the alternative payment mode but I was specific for the Bitcoin network because if a person owns Bitcoin only in whatever wallet he's using he needs to go with the Bitcoins network only, traders can use this strategy when they are making cross exchange trades to save network fees.In my opinion, some Bitcoin wallets provide very expensive transaction fees, and when that happens, there is no other choice but to wait until transactions on the blockchain network are not too busy anymore, or maybe you can use a computer and connect the wallet you are using using Electrum and try looking for the cheapest cost with Electrum installed on the PC.
But for a Bitcoin holder, it doesn't matter whether other network costs are lower or higher. There's another option that we can use the pegged Bitcoins to save on the transfer but as I said for a Bitcoiner he might not choose the pegged Bitcoin due to the high risks involved. This is a proven fact that with the evolution of Bitcoin the network fees will go higher until we propose any other solution and belive me L2's are non acceptable.
Transactions are not expensive anymore. You can get a 23 sat vB confirmed within some hours, which is about 2 usd.
Not as cheap as 0.2 usd from 2 sat vB times ... but fees are getting lower.
The problem is, I need to consolidate my wallet, take a look here:
(https://i.ibb.co/VHVrV0g/mem.png) (https://imgbb.com/)
40 USD if I use 20 sat vB
Transactions are not expensive anymore. You can get a 23 sat vB confirmed within some hours, which is about 2 usd.
Not as cheap as 0.2 usd from 2 sat vB times ... but fees are getting lower.
The problem is, I need to consolidate my wallet, take a look here:
(https://i.ibb.co/VHVrV0g/mem.png) (https://imgbb.com/)
40 USD if I use 20 sat vB
I don't have much to do now, the good thing is that I won't need to trade, but it would be good if I already consolidated it for a possible transaction in the future
Better don't look at USD value so much, this can get much higher when bitcoin get's to 100k, 200k or 500k. ;)
You can also wait or try using lower value with around 10 sat/vB but there is no guarantee when this transaction will be confirmed.
How many inputs do you have there? :o
A ballpark figure gets me at least 50 if we assume segwit inputs and consolidation.
Anyhow most likely by early Monday morning you could do that with half of a the sum, I'm pretty confident that the weekend will make us touch 10sat/b.
~
More than 80 inputs ;D
It's a good amount to save, I'll keep looking the Mempool to see if I can save more
In my opinion, some Bitcoin wallets provide very expensive transaction fees, and when that happens, there is no other choice but to wait until transactions on the blockchain network are not too busy anymore, or maybe you can use a computer and connect the wallet you are using using Electrum and try looking for the cheapest cost with Electrum installed on the PC.This is just bad software. Not bitcoin protocol problem.
Better don't look at USD value so much, this can get much higher when bitcoin get's to 100k, 200k or 500k. ;)
You can also wait or try using lower value with around 10 sat/vB but there is no guarantee when this transaction will be confirmed.
I'm thinking about whether to try a 10 sat/vB transaction or leave it for the future and maybe we can go back to 5 sat in a few weeks/months
If I try 10 sat I can save 20 USD, it's a good amount to saveHow many inputs do you have there? :o
A ballpark figure gets me at least 50 if we assume segwit inputs and consolidation.
Anyhow most likely by early Monday morning you could do that with half of a the sum, I'm pretty confident that the weekend will make us touch 10sat/b.
More than 80 inputs ;D
It's a good amount to save, I'll keep looking the Mempool to see if I can save more
13 or 14 sats looks good at the moment. you would save around 14 dollars if you use 14 sats.Better don't look at USD value so much, this can get much higher when bitcoin get's to 100k, 200k or 500k. ;)I'm thinking about whether to try a 10 sat/vB transaction or leave it for the future and maybe we can go back to 5 sat in a few weeks/months
You can also wait or try using lower value with around 10 sat/vB but there is no guarantee when this transaction will be confirmed.
If I try 10 sat I can save 20 USD, it's a good amount to saveHow many inputs do you have there? :oMore than 80 inputs ;D
A ballpark figure gets me at least 50 if we assume segwit inputs and consolidation.
Anyhow most likely by early Monday morning you could do that with half of a the sum, I'm pretty confident that the weekend will make us touch 10sat/b.
It's a good amount to save, I'll keep looking the Mempool to see if I can save more
Just when I thought we are going to get back below 10 sat/vB, new wave of transactions came in and mempool is full again.
I hope everyone consolidated on time and enjoyed low fees while they lasted.
Bitmover how is that L-BTC observer development doing?
I didn't think we were >10 sat/vB but it might be a good opportunity to Consolidate your small inputs
(https://talkimg.com/images/2024/02/13/v86KZ.png)
With a Bitcoin price around $50,000, the fees are very low.
Bitcoin transaction satoshis are very low, but in the past when bitcoin prices were very low, bitcoin transaction satoshis were high. Currently a little higher because the volume of transactions has increased.I don't get what you're trying to say here. Are you saying that the sats/vb fees are still higher compared to the past? I think that's just inevitable though, the network will never be free because more people are using it. It is not ideal to compare it to the fiat value since you still pay in sats anyway unless you're buying and trading Bitcoin regularly so you need to keep the margin to get some profits.
Neah, cheap fees will still be around, this was just a dump that triggered a small clog.I am not so sure we are going to have fees bellow 10-15 sat/vB for a while.
Overall the mempool i still smaller 2015vMB despite that compared to than Saturday 220vMb or Friday 270vMb.
I didn’t think about fee observer. As fees are very low it would be monotonous. Don't you think?It can be built inside current fee observer.
I didn't think we were >10 sat/vB but it might be a good opportunity to Consolidate your small inputsI haven't checked the price of Bitcoin transaction fees for a long time, or several days or a week, so I don't know if there has been a decrease in transaction fees again in the BTC network. is it because the BRC-20 has lost its hype? Yes, it doesn't matter what the reason is, the most important thing is that costs remain low when BTC prices soar to higher levels. With this we no longer need to worry about the costs of sending BTC. As I write this the fee is still the same at around 13 sats/vB.
(https://talkimg.com/images/2024/02/13/v86KZ.png)
With a Bitcoin price around $50,000, the fees are very low.
I didn’t think about fee observer. As fees are very low it would be monotonous. Don't you think?It can be built inside current fee observer.
For example you can add additional info that you can save on fees with Lighting for $? and on Liquid for $?
I didn’t think about fee observer. As fees are very low it would be monotonous. Don't you think?It can be built inside current fee observer.
For example you can add additional info that you can save on fees with Lighting for $? and on Liquid for $?
That's a good idea.
I can even implement FeeBuddy here, with some additional alttcoins such Ethereum, LTC, etc
I am not so sure we are going to have fees bellow 10-15 sat/vB for a while.
Binance have a huge number of unconfirmed transactions and they usually have bad fee management.
Other times it is seen that when the Bitcoin market increases, Mempool increases a lot but now we see something different.
Fees are low, it is an opportunity to group your inputs and/or open LN channels.
(https://talkimg.com/images/2024/03/17/JE3lN.png)
Fees are low, it is an opportunity to group your inputs and/or open LN channels.
(https://talkimg.com/images/2024/03/17/JE3lN.png)
I will wait a little more. I believe we will see 1 sat vB soon! Maybe in a few months.You keep saying that same line for weeks, and I keep telling you that is not going to happen any time soon, halving is coming and real bull run has not even started yet.
I will wait a little more. I believe we will see 1 sat vB soon! Maybe in a few months.You keep saying that same line for weeks, and I keep telling you that is not going to happen any time soon, halving is coming and real bull run has not even started yet.
''Few months'' is not soon and it can easily turn into year.
Dreaming is free, so you can continue doing it ;)
I will wait a little more. I believe we will see 1 sat vB soon! Maybe in a few months.
I will wait a little more. I believe we will see 1 sat vB soon! Maybe in a few months.If Bitcoin price correction continues between $50,000 and $60,000, we may see 1 sat/vB, assuming that a few will sell and the purchase transactions will be via CEXs that batch the transactions. We also do not expect to see any BRC-20 spam.
Let's say it will cost me $2000 to inscribe a block "stompix was here" of course my real name, my glorious results, my achievements, my name to be remembered forever in the blockchain...Now, how many idiots thinking the same thing and having more than $2000 to spare do you think there are in the world? Cause I know a lot that have thrown tens of thousands at jpg cats.
What is somewhat bizarre is that bitcoin is becoming a blockchain for nft. Cheaper than ethereum main net.
And there are many people receiving lots of airdrops. People who made inscriptions with their bitcoins are receiving hundreds/thousands of dollars in airdrops.
I didnt make any bitcoin nft, but people are making money out of it for now.
What is even more bizarre is that it is only a current trend and in a year, most of the NFT on bitcoin will be worthless.It is natural that NFTs on the bitcoin network will soon end because the main purpose of bitcoin is not to create NFTs and it could be said that NFTs are just hype that is trending only for a moment, there are already many like that, including on other networks.
What is somewhat bizarre is that bitcoin is becoming a blockchain for nft. Cheaper than ethereum main net.That just shows how bad ethereum is. :P
And there are many people receiving lots of airdrops. People who made inscriptions with their bitcoins are receiving hundreds/thousands of dollars in airdrops.Nobody is receiving this by doing anything.
What is somewhat bizarre is that bitcoin is becoming a blockchain for nft. Cheaper than ethereum main net.That just shows how bad ethereum is. :P
If Bitcoin price correction continues between $50,000 and $60,000, we may see 1 sat/vB, assuming that a few will sell and the purchase transactions will be via CEXs that batch the transactions. We also do not expect to see any BRC-20 spam.
If the average Bitcoin mining continues for less than ~9.1 minutes, we may see it for some blocks.
It is natural that NFTs on the bitcoin network will soon end because the main purpose of bitcoin is not to create NFTs and it could be said that NFTs are just hype that is trending only for a moment, there are already many like that, including on other networks.
I own some ethereum, and I converted some of my funds from Sinbad to Ethereum for privacy purposes. however, I am considering swap them now for BTC or SOL.
maybe a little SOL ( to buy more btc later)
I own some ethereum, and I converted some of my funds from Sinbad to Ethereum for privacy purposes. however, I am considering swap them now for BTC or SOL.
maybe a little SOL ( to buy more btc later)
I remember that some time ago you wanted to leave Litecoin because it was unreliable or even too unstable. I would never choose Ethereum over LTC. Otherwise, Litecoin had a growth of about 30% in the last month.
But litecoin performance is even worse in long termA digital currency project like Litecoin must have developments from year to year, always updating technology so that it will increase interest in Litecoin, but if the developer doesn't want to do that then it is certain that Litecoin will always remain silent and no one will be interested anymore.
It used to be rank top10 a few years ago and is now about 30 or something.
It is losing much more value against bitcoin than ethereum is..
But litecoin performance is even worse in long term
It used to be rank top10 a few years ago and is now about 30 or something.
It is losing much more value against bitcoin than ethereum is..
I am sure that Litecoin will still survive even though the development it has has is not as much as other projects because Litecoin is a digital currency that was created at a very old age, so I am sure that the CEO developer is very afraid of taking risks to carry out new developments.But litecoin performance is even worse in long termA digital currency project like Litecoin must have developments from year to year, always updating technology so that it will increase interest in Litecoin, but if the developer doesn't want to do that then it is certain that Litecoin will always remain silent and no one will be interested anymore.
It used to be rank top10 a few years ago and is now about 30 or something.
It is losing much more value against bitcoin than ethereum is..
But litecoin performance is even worse in long termThe basis for that is the market cap and volume and I agree that if it's. But if it's about the use case of it, I still enjoy it using for transactions. I guess that we'd get to see it drop some more of the ranks as it seems to be dropping and can't soar unlike the other cryptos. If it's about long term, I'd still pick this than any of the memes.
It used to be rank top10 a few years ago and is now about 30 or something.
It is losing much more value against bitcoin than ethereum is..
But litecoin performance is even worse in long termThe basis for that is the market cap and volume and I agree that if it's. But if it's about the use case of it, I still enjoy it using for transactions. I guess that we'd get to see it drop some more of the ranks as it seems to be dropping and can't soar unlike the other cryptos. If it's about long term, I'd still pick this than any of the memes.
It used to be rank top10 a few years ago and is now about 30 or something.
It is losing much more value against bitcoin than ethereum is..
The basis for that is the market cap and volume and I agree that if it's. But if it's about the use case of it, I still enjoy it using for transactions. I guess that we'd get to see it drop some more of the ranks as it seems to be dropping and can't soar unlike the other cryptos. If it's about long term, I'd still pick this than any of the memes.Circulating supply for many cryptocurrencies can be easily manipulated. As for Litecoin, the coin is still in good stead but its use cases are limited which make its value diminish. Low fees are the only advantage of LTC but even Bitcoin (in these days) you can broadcast a transaction for 15 sat/vByte and get confirmation in less than 20 min.
Low fees are the only advantage of LTC but even Bitcoin (in these days) you can broadcast a transaction for 15 sat/vByte and get confirmation in less than 20 min.
LTC is currently one of the oldest cryptocurrency projects still alive, the project they have this year doesn't seem to be of much use to many people but still remains to this day is a very good value. Litecoin must continue to develop to keep increasing its use.The basis for that is the market cap and volume and I agree that if it's. But if it's about the use case of it, I still enjoy it using for transactions. I guess that we'd get to see it drop some more of the ranks as it seems to be dropping and can't soar unlike the other cryptos. If it's about long term, I'd still pick this than any of the memes.Circulating supply for many cryptocurrencies can be easily manipulated. As for Litecoin, the coin is still in good stead but its use cases are limited which make its value diminish. Low fees are the only advantage of LTC but even Bitcoin (in these days) you can broadcast a transaction for 15 sat/vByte and get confirmation in less than 20 min.
Let's dump this a bit since we crossed 500sat per vbyte.
And I already see a few meltdowns on BT but here seems like everyone is either completely chill or hasn't heard the news or wasn't forced to use bitcoin today. Anyhow, it's the weekend and instead of seeing again fees of 1$ during the weekend, we're most likely have to wait this one out.
Dramaaaa! ::)
Meanwhile mempool fees on Liquid network for L-BTC and L-USDT are around ~0 sat/vB or $0.00 8)
https://liquid.network/
I think fees on main chain is acceptable again with around ~30 sat/vB, but I am expecting big changes in next few months.
We could see major crash in all markets including stocks and bitcoin, but this is going to be bigger crash than 2008.
That usually means chaos in mempool and possible bear market, so better prepare for this, but let's wait and see what happens.
Remember this when autumn comes and tell me if I was wrong or not.
Do you really think we will,super crash?Not now, but probably in next few months, September and October are their favorite months for things like this.
we will crash like we did in 2008.This could be much much worse than 2008.
we will crash like we did in 2008.This could be much much worse than 2008.
When you look back, every crash looks small. Even covid crisis look small now when we look at charts.
When you look back, every crash looks small. Even covid crisis look small now when we look at charts.
Bitcoin proved to be quite resistant to the COVID crisis. On the day of the declaration of the pandemic, the value dropped to $5k, but recovery soon began and the value of Bitcoin grew constantly until the end of the year, I think it was around $30k.
At a time when everyone was working hard, due to the lockdown, the values ​​of digital goods like Bitcoin came to the fore.
Bitcoin proved to be quite resistant to the COVID crisis. On the day of the declaration of the pandemic, the value dropped to $5k, but recovery soon began and the value of Bitcoin grew constantly until the end of the year, I think it was around $30k.
At a time when everyone was working hard, due to the lockdown, the values ​​of digital goods like Bitcoin came to the fore.
Although it recovered soon, I was quite scared because I was losing money everywhere...
Although it recovered soon, I was quite scared because I was losing money everywhere...
I lost basically 30% of my overall portfolio (of all had) in the beginning of the pandemics. I was much better later on in the end of 2020... and amazingly better in 2021
Although it recovered soon, I was quite scared because I was losing money everywhere...
I lost basically 30% of my overall portfolio (of all had) in the beginning of the pandemics. I was much better later on in the end of 2020... and amazingly better in 2021
Was that only in Bitcoin or in other ventures as well?
Because most people who had YOLO'd into Bitcoin and went all in also lost about a third of their net worth by March 2020 at the height of the pandemic.
I suppose everyone who took advantage and bought the dip at that time period were really happy at their gains in the end.
Fees are low, it is an opportunity to group your inputs and/or open LN channels.Fees are low, it is an opportunity to group your inputs and/or open LN channels.
(https://talkimg.com/images/2024/03/17/JE3lN.png)
(https://talkimg.com/images/2024/06/25/hJyXJ.jpeg)
It's going up again this time, all I thought it will stay at around 10sats/vb or lower but yeah it started to rise and I don't know how high it will be going and I have this question in mind like is there a possibility of fees going down to 1 sats/vb? If there is a chance would you still hodl or withdraw?
I don't know how high it will be going and I have this question in mind like is there a possibility of fees going down to 1 sats/vb? If there is a chance would you still hodl or withdraw?Currently, some nodes allow you to broadcast a <2.67 sat/vB transaction, some may accept 2 sat/vB, but you can broadcast a transaction for 3 sat/vB. If the fees continue to drop, you may be able to get 1 sat/vB.
This is very good time for consolidation of coins or for opening Lightning Network channels if you are using that.
Currently estimated fee in in mempool.space is around 8 sat/vB or $0.69, and this could change if bitcoin price changes and drops again.
I think this is quiet time before the Bitcoin storm.
Recently, the main reason why the fee has increased or decreased was not because of the BTC price but because of spamming by ordinals and rune transactions in the BTC network.ordinals and rune transactions are not the majority of the data that is included in the last blocks. https://ordiscan.com/blocks will help you to review the latest ordinals that were included in blocks. most of currently mined data is Consolidation data and therefore the network is in good condition.
1 sat/vB, If you have any pending transaction, it will be confirmed and it is an opportunity to group your inputs and/or open LN channels.I don't know how high it will be going and I have this question in mind like is there a possibility of fees going down to 1 sats/vb? If there is a chance would you still hodl or withdraw?Currently, some nodes allow you to broadcast a <2.67 sat/vB transaction, some may accept 2 sat/vB, but you can broadcast a transaction for 3 sat/vB. If the fees continue to drop, you may be able to get 1 sat/vB.
1 sat/vB, If you have any pending transaction, it will be confirmed and it is an opportunity to group your inputs and/or open LN channels.
(https://talkimg.com/images/2024/07/15/4aGyJ.png)
This is very good time for consolidation of coins or for opening Lightning Network channels if you are using that.After a long time, like 3 to 4 weeks, I decided to do some bitcoin transactions this morning, and I think I've never had a smoother experience, vbyte was at 8 satoshies, and for a transaction of about $200, I paid a total of $0.9 in fees, and it did not end there, I was literally expecting the transaction to take atleast, up to 30 minutes before I get a confirmation, but amazing, I got my first and second confirmation in less than 4 minutes, I was like "wow, so bitcoin transactions can a get confirmation this fast" 😍, I loved it to be honest, and wish It can only remain that way.
Currently estimated fee in in mempool.space is around 8 sat/vB or $0.69, and this could change if bitcoin price changes and drops again.
I think this is quiet time before the Bitcoin storm.
1 sat/vB, If you have any pending transaction, it will be confirmed and it is an opportunity to group your inputs and/or open LN channels.Don't tell people to send any bitcoin transaction using minimal fee of 1 sat/vB, especially not for consolidation of their coins!
1 sat/vb won't be confirmed soon and it's still risky, one wave of consolidations dropped and you might be again kicked out of the mempool,
Don't tell people to send any bitcoin transaction using minimal fee of 1 sat/vB, especially not for consolidation of their coins!I did not recommend this, but a month ago 0t3p0t asked about the possibility that we would see 1 sats/vb. I had predicted that it might happen in the coming weeks, and yesterday it was possible to broadcast a transaction with 1 sats/vb.
Using fee around 5 sat/vB is acceptable and it's not going to make anyone poor for paying few cents more.
1 sat/vB, If you have any pending transaction, it will be confirmed and it is an opportunity to group your inputs and/or open LN channels.I don't know how high it will be going and I have this question in mind like is there a possibility of fees going down to 1 sats/vb? If there is a chance would you still hodl or withdraw?Currently, some nodes allow you to broadcast a <2.67 sat/vB transaction, some may accept 2 sat/vB, but you can broadcast a transaction for 3 sat/vB. If the fees continue to drop, you may be able to get 1 sat/vB.
I did not recommend this, but a month ago 0t3p0t asked about the possibility that we would see 1 sats/vb. I had predicted that it might happen in the coming weeks, and yesterday it was possible to broadcast a transaction with 1 sats/vb.
I did not recommend this, but a month ago 0t3p0t asked about the possibility that we would see 1 sats/vb. I had predicted that it might happen in the coming weeks, and yesterday it was possible to broadcast a transaction with 1 sats/vb.
We have an average of ~9.6 minutes and DIFFICULTY ADJUSTMENT will occur in the next 30 hours so during July I don't think we will see the ability to broadcast a 1 sats/vb transaction again.
But just as broadcasting one two months ago and one now, is just as futile, it would be nearly impossible at this pace to get a confirmation even in two weeks unless something really, but really out of the ordinary happens and I can't even think of such an event.
It will be propagated, but it will probably drop after a few days... it won't get confirmed anytime soon.Many last blocks included transactions with 4 SAT/VB There are still 5 hours before Adjustment and with the number of transactions, there is a good possibility that 1 SAT/VB is accepted in the upcoming blocks (12-40 block)
I agree that we will see 1 sat vB again, but it might take months...
Many last blocks included transactions with 4 SAT/VB There are still 5 hours before Adjustment and with the number of transactions, there is a good possibility that 1 SAT/VB is accepted in the upcoming blocks (12-40 block)It looked like that a few days ago, so I sent some transactions with 3sat/vb, but they are still in pending status. I think it can only be expected during the weekend when there is less activity and fewer transactions on the network in general. Unless something unplanned happens.
Many last blocks included transactions with 4 SAT/VB There are still 5 hours before Adjustment and with the number of transactions, there is a good possibility that 1 SAT/VB is accepted in the upcoming blocks (12-40 block)It looked like that a few days ago, so I sent some transactions with 3sat/vb, but they are still in pending status. I think it can only be expected during the weekend when there is less activity and fewer transactions on the network in general. Unless something unplanned happens.
Many last blocks included transactions with 4 SAT/VB There are still 5 hours before Adjustment and with the number of transactions, there is a good possibility that 1 SAT/VB is accepted in the upcoming blocks (12-40 block)It looked like that a few days ago, so I sent some transactions with 3sat/vb, but they are still in pending status. I think it can only be expected during the weekend when there is less activity and fewer transactions on the network in general. Unless something unplanned happens.
The standard fee rate right now is still 6 sats/vbytes, and I believe there are hundreds - if not thousands - of transactions queues up at that fee rate, so they all have to be processed, and quickly, before you can think of the fee rate going down to 3, 4, and even 5 sats per vbyte.
The same will happen for the lower fee rates until (if?) it reaches 1 sat/vbyte.
Quote~Many last blocks included transactions with 4 SAT/VB There are still 5 hours before Adjustment and with the number of transactions, there is a good possibility that 1 SAT/VB is accepted in the upcoming blocks (12-40 block)
It looked like that a few days ago, so I sent some transactions with 3sat/vb, but they are still in pending status. I think it can only be expected during the weekend when there is less activity and fewer transactions on the network in general. Unless something unplanned happens.
I paid 5.1 a day ago. All shit is consolidated at this time.
1) biggest wallet
2) second biggest wallet
3) third wallet
all of the above are my wallets. All are narrowed to 1 tx
Are unconfirmed transactions an indication of the density of transactions occurring on the Bitcoin blockchain network?
Anyways I was a little surprised when I came back to observe few seconds after I made my transaction that fees dropped to 3 sats /vbytes.There's no way your published transaction fees change randomly. You need to replace your transaction if you want to change the fee (e.g., bumping fee on an RBF-enabled transaction). CMIIW.
Nice to see this topic here too. Anyways today I experienced something a little funny on the MEMPOOL. Though it wasn't a big deal I just thought I'd share it here probably we'll have a couple opinions about it. Before I make any transaction I usually check the MEMPOOL just to know what fees are like in the current block and most recent block. I'm aware that fees on the MEMPOOL are dynamic, however today before I made my transaction I could see 7 sats/vbytes as the highest priority fees so I just decided I'd use 4.5 sats /vbyte. Anyways I was a little surprised when I came back to observe few seconds after I made my transaction that fees dropped to 3 sats /vbytes.
Anyone experienced this kinda shift before?
Anyways I was a little surprised when I came back to observe few seconds after I made my transaction that fees dropped to 3 sats /vbytes.There's no way your published transaction fees change randomly. You need to replace your transaction if you want to change the fee (e.g., bumping fee on an RBF-enabled transaction). CMIIW.
It sounds like you might of transmitted the transaction just before a block was found? This would explain the drop in expected fee from 7 to 3 within seconds. Either that or it was just a bad estimate, maybe based on the past minute or so of transactions, as opposed to the past 10 minutes. Lot's of different reasons why estimates can be inaccurate basically.I think you get my point. The fact is I understand what happened and it was quite awkward to me because of the shift it the fee rate were quite large and judging from the whole scenario that they i was kinda skeptical about the fees anyways like I said before I still proceeded to making use of it simply because I just thought like it was still within the working hours of the US and during those periods fees are usually kinda high.
1 sat/vb are real now!
Just got a transaction confirmed!! I am warning everyone so you guys can make your consolidations!
I remember so many people saying it was never going to happen! Here are we are! Bitcoin is amazing!
1 sat/vb are real now!
Just got a transaction confirmed!! I am warning everyone so you guys can make your consolidations!
I remember so many people saying it was never going to happen! Here are we are! Bitcoin is amazing!
1sat/vb transactions are quite common now but it's better to use 1.1sat/vb to skip the long queue of 1sat.vb transactions. It's the best time for consolidation because we never know when the network will be clogged and fees could skyrocket for short term.
You are right.
I sent one 1.0 sat v/b which took about 5 days to get confirmed (only today). Now I have consolidated more than 200 UTXO into 2 outputs for 1.1 and 1.2 sat v/B :)
I spent a total of 16 usd to make all that consolidation, which is quite amazing!
There were so many UTXO that my ledger nano took aboutr 5min to process it. I detailed it in BTT , in a topic about that problem here:
https://bitcointalk.org/index.php?topic=5527981.msg65001098#msg65001098
You are right.
I sent one 1.0 sat v/b which took about 5 days to get confirmed (only today). Now I have consolidated more than 200 UTXO into 2 outputs for 1.1 and 1.2 sat v/B :)
I spent a total of 16 usd to make all that consolidation, which is quite amazing!
There were so many UTXO that my ledger nano took aboutr 5min to process it. I detailed it in BTT , in a topic about that problem here:
https://bitcointalk.org/index.php?topic=5527981.msg65001098#msg65001098
I bet you consolidated the payments from the forum campaigns hehehe
200 txs and 16USD :o It's cheap
1 sat/vb are real now!Your dream came real 8)
1 sat/vb are real now!Your dream came real 8)
It is incredible we are holding around $100k in fiat value and there are almost no real activity mempool...something doesn't feel right to me.
Note that this is not the result of any protocol or code improvements, just less transactions on blockchain.
quiet!Quote200 txs and 16USD :o It's cheap
Basically 200 transations for 16 usd :)
Note that this is not the result of any protocol or code improvements, just less transactions on blockchain.Trump's inauguration did not bring a spectacular ATH, so now we have a lot of holders who buys the high.
1 sat/vb are real now!Your dream came real 8)
It is incredible we are holding around $100k in fiat value and there are almost no real activity mempool...something doesn't feel right to me.
Note that this is not the result of any protocol or code improvements, just less transactions on blockchain.
I just hope that when the price of Bitcoin rallies, its fee won't suddenly increase, which will surprise most bitcoin holders like what happened last year when
it was really expensive.
- Maybe about 2 weeks ago I noticed that the fee that is being deducted recently is quite low when you make a transaction with bitcoin. And I'm sure those who also make transactions with bitcoin are also in favor and happy.Right now, the fees are stable at 2sats/vb which is quite lower when I had my transactions a couple of days ago which cost me 7sats/vb and yeah hopefully this will stay on this range like 1-3sats/vb and not trigger a spike just like what had happened in the first quarter of 2024 if I am not wrong.
I just hope that when the price of Bitcoin rallies, its fee won't suddenly increase, which will surprise most bitcoin holders like what happened last year when
it was really expensive.
quiet!
Don't say this to stompix, he's not happy when the miners aren't happy. :D
quiet!
Don't say this to stompix, he's not happy when the miners aren't happy. :D
Fees haven't been anything meaningful since the last rune fomo, so the fees dropping from 5 to 1 sat/vb on average means close to nothing in the revenues, fees in total reward were below 1%, even if they were 5 times higher they would still compete with daily trends.
Anyhow, I don't care that much financially since I don't mine anymore, but I'm still curious how things will work since those fees were the ones supposedly keeping the network safe once the reward is gone, and what we see is that usage is gone way before that.
I will never ever pay $20 to get a transaction confirmed again. 8)
Anyhow, I don't care that much financially since I don't mine anymore, but I'm still curious how things will work since those fees were the ones supposedly keeping the network safe once the reward is gone, and what we see is that usage is gone way before that.Yes, it's a long-term dilemma.
I believe that with institutional investment the values have increased, larger purchases, large holders and without so many transactions from ordinary users, like us heheheSure, we have some institutional money, but I think that the hype around the Trump was making people wait to see what will happen after he comes in office.
ETFs must also have helped in this regard, since you can buy and sell ETFs without having to make transactions
It also helps that nothing is happening in Bitcoin like it did with the runes
Trump's inauguration did not bring a spectacular ATH, so now we have a lot of holders who buys the high.I think we already had Bitcoin ATH around $108,786, that is not much different than current price.
~Yes, it's a long-term dilemma.
Don't you think that over time some hardware will be developed that will be significantly more energy efficient? As mining hardware has changed during these 15 years, from that point of view 2035 is very far away.
Hardware efficiency is meaningless.I wasn't thinking about hardware power but about lower costs for the same work.
Right now you have ~750Exahash protecting the network because each TH/s is making 5 cents.
If efficiency grows 1000 times you will have machines that mine in petahashes instead of ths/s but doing the same profits for pt/s instead of th/s.
Anyhow, I don't care that much financially since I don't mine anymore, but I'm still curious how things will work since those fees were the ones supposedly keeping the network safe once the reward is gone, and what we see is that usage is gone way before that.Yes, it's a long-term dilemma.
Don't you think that over time some hardware will be developed that will be significantly more energy efficient? As mining hardware has changed during these 15 years, from that point of view 2035 is very far away.
~I wasn't thinking about hardware power but about lower costs for the same work.
How much does it cost TH/s until it realizes that 5 cents?
If electricity consumption were to be halved, wouldn't that have a direct impact on the miner's total profit?
That is not a problem now.
That is not a problem now.
Reminds me of the electricity problem in Germany.
2022 What can we do, we can't build back nuclear power plants, it takes 10-15 years!
2023 What can we do, we can't build back nuclear power plants, it takes 10-15 years!
2024 What can we do, we can't build back nuclear power plants, it takes 10-15 years!
...
2080, if only we would have started building those nuclear plants back in 2022!
(https://i.ibb.co/4ZdcvWz1/xxxxx.png) (https://ibb.co/XZ890X1Y)
Source (https://x.com/i/bookmarks?post_id=1885790346199650641)
I didn't know the mempool hadn't been empty for two years
Impressive :o :o :o
BTC at 100k and mempool empty
I have never met with 1 sat/vbyte before while doing transactions, the least I have ever meet is 3 sat/vbyte and i see that fair enough for transactions since is not up to 50 cent in the transaction I sees it fair enough. But I believe I will target 1 or 2 sat.(https://i.ibb.co/4ZdcvWz1/xxxxx.png) (https://ibb.co/XZ890X1Y)
Source (https://x.com/i/bookmarks?post_id=1885790346199650641)
I didn't know the mempool hadn't been empty for two years
Impressive :o :o :o
BTC at 100k and mempool empty
technically, nodes shouldn't propagate 0 sat/vbyte fees
I believe those 0 sat/vbyte are probably miners transactions, which they added by themselves
I have never met with 1 sat/vbyte before while doing transactions, the least I have ever meet is 3 sat/vbyte and i see that fair enough for transactions since is not up to 50 cent in the transaction I sees it fair enough. But I believe I will target 1 or 2 sat.
I have never met with 1 sat/vbyte before while doing transactions, the least I have ever meet is 3 sat/vbyte and i see that fair enough for transactions since is not up to 50 cent in the transaction I sees it fair enough. But I believe I will target 1 or 2 sat.
You can try now!
You can make some consolidations of your signature campagins earnings.
Select all your inputs from the same address and make a 1 sat/vb transaction to another (or the same) address.
This way you will save a lot of money in the future. Because each input basically counts as a new transaction in terms of cost and fees
I didn't know about this as well.. you know I don't really know much about technical knowledge of wallet and transaction. But I just understand the sat/vbyte of a thing, so while doing transaction I make sure it's not stuck halfway where I would have to bump fee to come confirm so quickly.I have never met with 1 sat/vbyte before while doing transactions, the least I have ever meet is 3 sat/vbyte and i see that fair enough for transactions since is not up to 50 cent in the transaction I sees it fair enough. But I believe I will target 1 or 2 sat.
You can try now!
You can make some consolidations of your signature campagins earnings.
Select all your inputs from the same address and make a 1 sat/vb transaction to another (or the same) address.
This way you will save a lot of money in the future. Because each input basically counts as a new transaction in terms of cost and fees
I don`t think bitcoin protocol should be changed because of bad decisions made by German politicians years ago.
while doing transaction I make sure it's not stuck halfway where I would have to bump fee to come confirm so quickly.
Maybe I will try out what you said in the morning, but while doing this I have to use my pc to avoid mistake.
Bottom line to have the same level of security as previously the fees must match the reward, I don't see blocks full with 100$ per tx to cover that, not to mention that with every increase in BTC price you have a bigger target. I said it before, nobody really cared on attacking it while it was a 1 billion network, when it becomes a 10 trillion one, perspective do change!
I have Electrum already downloaded with my pc, so what I meant is that while doing such transaction I would have to use my PC as I am not that comfortable using my Smartphone for any transaction to avoid series of mistakes or sending back payment to the same address that sent me payment.while doing transaction I make sure it's not stuck halfway where I would have to bump fee to come confirm so quickly.
Maybe I will try out what you said in the morning, but while doing this I have to use my pc to avoid mistake.
Maybe you could try a better wallet, which will help you understand things better.
I use Electrum, download it from electrum.org
I used my trezor set fees to 1.23 sats just in case. they all cleared in under an hourA few hours ago, 2 sat/vB completed my transaction in less than 10 minutes...a perfect time to secure the balance in another wallet and lock it in a savings wallet for holding...we will never know when bitcoin fees will skyrocket again...because I don't want to feel trapped again to be reluctant to make a transaction at that time when the fee war is so crazy..
I used my trezor set fees to 1.23 sats just in case. they all cleared in under an hourA few hours ago, 2 sat/vB completed my transaction in less than 10 minutes...a perfect time to secure the balance in another wallet and lock it in a savings wallet for holding...we will never know when bitcoin fees will skyrocket again...because I don't want to feel trapped again to be reluctant to make a transaction at that time when the fee war is so crazy..
Yes, so far that's also the lowest that I will to avail. I don't know, I'm not that confident to bring back and used 1 sat/vB although right now, it's the lowest and I have seen the mempool almost clearing itself the last couple of days.Hold is trendy.
Perhaps I have that trauma on the 1 sat/vB as we have experienced the fees really go up high last year and so I still have that mentality that it might go up again anytime and my transaction going to be stuck.
Perhaps I have that trauma on the 1 sat/vB as we have experienced the fees really go up high last year and so I still have that mentality that it might go up again anytime and my transaction going to be stuck.That is not such a big problem nowadays if you are sending transactions with RBF (replace-by-fee).
I would not recomend using minimal 1 sat/vB fee in case you need fast confirmation.