Mempool Observer - Discussion about Bitcoin Fees

[bitmover]

Bitmover how is that L-BTC observer development doing?

I will first add L-BTC to my balance Checker tool


I didn’t think about fee observer. As fees are very low  it would be monotonous.  Don't you think?

I am preparing also a browser extension to help plot the price image api in the forums

[Yamane_Keto]

I didn't think we were >10 sat/vB but it might be a good opportunity to Consolidate your small inputs

With a Bitcoin price around $50,000, the fees are very low.

[Papusha20]

I didn't think we were >10 sat/vB but it might be a good opportunity to Consolidate your small inputs

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.

[joniboini]

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.

[dkbit98]

Neah, cheap fees will still be around, this was just a dump that triggered a small clog.
Overall the mempool i still smaller 2015vMB despite that compared to than Saturday 220vMb or Friday 270vMb.

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.

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 $?

[Uruhara]

I didn't think we were >10 sat/vB but it might be a good opportunity to Consolidate your small inputs

With a Bitcoin price around $50,000, the fees are very low.

I 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.

[bitmover]

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

[examplens]

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

dkbit98 - the biggest promoter of L-BTC 

[Litzki1990]

The value of Bitcoin has increased considerably but Bitcoin transaction fees are currently at normal levels. Mempool was 13 sat/vB at the time I was making this post. According to 13 sat/vB Mempool if Bitcoin is transferred then the user has to pay one dollar BTC fee from each transfer. Other times it is seen that when the Bitcoin market increases, Mempool increases a lot but now we see something different. 13 sat/vB is definitely the minimum mempool to transfer bitcoins. At present there may be no user complaints about transferring bitcoins because now the transfer fees of bitcoins are limited.

[Stompix]

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.

Binance is paying out at 3x all the time and their small inputs consolidations are already in the mempool at 10sat/vb and 5sat/vb:
https://mempool.space/address/bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h
actually blockstream is better at this:
https://blockstream.info/address/bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h
UNCONFIRMED TX COUNT   3565

There won't be any game changer move coming from exchnges, they are either spending 3 times like Binance or OKex or have a ton in waiting already in the mempool, the NFT hype is down for a while , the only thing that will make a sufficient change is the difficulty adjustment that has just hit, we had a ton of extra speed in the last 13 days, that most likely will be gone.

For a bit we still have 13sat/vb last block.

Other times it is seen that when the Bitcoin market increases, Mempool increases a lot but now we see something different.

Because all the action is on CEXs and ETFs, this is all trading and nobody moves coins to actually buy or sale from or to their wallets.
Hodlers hold and sellers had the coins already there.

[Yamane_Keto]

Fees are low, it is an opportunity to group your inputs and/or open LN channels.

[examplens]

Fees are low, it is an opportunity to group your inputs and/or open LN channels.

It's a picture I've been wanting to see for a long time. 

btw. @Yamane_Keto, did you know that there is a browser extension made by bitmover that allows you to set information such as the current fee in just one click? You don't have to do a screenshot, upload, etc...

For example:


You can find more at [FORUM EXTENSION] Bitcoin data API ready to be inserted in altcointalks posts.
Or visit his website: https://bitcoindata.science
There is a lot of interesting stuff there. 

[bitmover]

Fees are low, it is an opportunity to group your inputs and/or open LN channels.

I will wait a little more. I believe we will see 1 sat vB soon! Maybe in a few months.

[dkbit98]

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

[bitmover]

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

A few weeks ago I saw many people saying we would never see 1 sat again. But it looks like we will see it again at any moment.

I have hundreds of inputs. I will consolidate then only at 1 sat vB. I have no hurry...