Fees are low! Use the opportunity to consolidate your inputs

[bitmover]

I saw the mempool was empty yesterday. I consolidated 50 inputs with just a few bucks (about 3.5 usd) at 1 sat/vB.


from mempool.space yesterday

Now the mempool is still quite uncongested. Use this opportunity to make 1 sat/vB transactions (or a bit more, like 1.2) to consolidate your inputs! they will confirm soon!

Consolidating inputs is a win-win for everyone. You are helping to network, as you are using a large block space when it is cheap to do so, and you won't flood the network when everyone is trying to get space in a block.

Fees now are (updated automatically)

[Charles-Tim]

Good advice.

Although, the mempool has been less congested for months now and it may be less congested during weekends.

It may increase up to 12 sat/vbyte and later fall to 1 sat/vbyte but mostly at 2 to 3 sat/vbyte.

You can see Ordi and other ordinals fall so huge. The craze for these tokens have greatly reduced.

[Cornpetitor]

Thanks for the heads up, I was actually trying to consolidate a couple of weeks ago, and it was a big NOPE then.

You really need to be on top of it all the time in order to catch it at the right time.

[rdluffy]

That's a great tip bitmover 
At the moment all my wallets are already consolidated, a few weeks ago I was able to gather everything I needed with 1 sat vbyte 

Especially for those of us who participate in forum campaigns and have at least one input every week

[Wiwo]

The last few weeks bitcoin memopool have been less congested and most time transactions are confirmed within second and with low fees, it's quite unusual to see such less congested memopool despite the fact that bitcoin price is quite high.

Anyways this shows that there have been less spammers attacking the network with tons of transactions all with the aim to make the network congested and hiking transactions fees for bitcoin.

[famososMuertos]

We're in times of: 2222. 2233. 1222. etc.

Don't forget the importance of consolidating your addresses. Consolidate what you consider necessary. Privacy-Anonim.

Today:
No priority:1
Low priority:1
Medium priority:2
High priority:2

1122. 

[bitmover]

We're in times of: 2222. 2233. 1222. etc.

Don't forget the importance of consolidating your addresses. Consolidate what you consider necessary. Privacy-Anonim.

A good idea is just to send all your inputs from your signature campaigns address in the same one.

You can make a transaction from an address to itself, to the same address

[yhiaali3]

Thank you @bitmover for sharing. This is a great opportunity for everyone to take advantage of...

I see fees currently ranging from 1-8 sat/vB, so this is a great opportunity for anyone looking to take advantage of the reduced fees to consolidate all their wallet entries, especially here on the forum where everyone has a lot of entries from signing campaigns.

But I'm curious to know what the main reason for the current low network fees is?

[gunhell16]

I saw the mempool was empty yesterday. I consolidated 50 inputs with just a few bucks (about 3.5 usd) at 1 sat/vB.


from mempool.space yesterday

Now the mempool is still quite uncongested. Use this opportunity to make 1 sat/vB transactions (or a bit more, like 1.2) to consolidate your inputs! they will confirm soon!

Consolidating inputs is a win-win for everyone. You are helping to network, as you are using a large block space when it is cheap to do so, and you won't flood the network when everyone is trying to get space in a block.

Fees now are (updated automatically)

It's really good to take advantage of the opportunity to make a transaction with such a low fee, in the past few days even if I put it in fast transaction it was only
3 sats, it's fine because maybe later one day we will be surprised by the sudden increase in the fee if there is a sudden rally in the price of bitcoin.

We know that when in low priority it will take a long time to reach the destination address we give so we shouldn't regret the fee we have now in the majority
if the transaction is fast.

[bitmover]

But I'm curious to know what the main reason for the current low network fees is?

Dull market... low volatility.
No ordinals, no inscription, no new data storage mania.

Only bitcoin users moving money around,  not much price speculation

[rby]

Thank you for this vital information. The last time I wanted to consolidate, I saw that the fees were high so I decided to wait and try again when the market becomes less busy and less volatile but unfortunately for me, I forgot I had such plan but reading this now, I'll definitely go back, see what's currently obtainable and know if I should consolidate now or not.

[yhiaali3]

But I'm curious to know what the main reason for the current low network fees is?

Dull market... low volatility.
No ordinals, no inscription, no new data storage mania.

Only bitcoin users moving money around,  not much price speculation

Great news. I hope the network stays this way (except for a Dull market, of course). But no one knows how long it will be before we see congestion again.

Bitcoin, as stated in the Bitcoin whitepaper, is "a peer-to-peer electronic cash system." The Bitcoin network was created primarily for real Bitcoin users to transfer and exchange Bitcoins among themselves. Therefore, to maintain the network, it must be cleansed of all this nonsense, especially the ordinals and inscriptions.

[Stompix]

A good idea is just to send all your inputs from your signature campaigns address in the same one.
You can make a transaction from an address to itself, to the same address

The best thing is to drop all that into a mixer now that it's cheap, and also move the splits you receive to a safe zone. Two rabbits at 1/satb!

Anyway low fees are here to stay, there is simply no pressure whatsoever, even a huge consolidation dump from Biannce on early morning didn't matter, I watched as 10 blocks of huge tx were just dealt with in a few hours, funyn as it might sound but maybe the Solana meme helped us getting rid of the junk created by hype here with ordinals.

[bayu7adi]

1 sat/vb is indeed very cheap, but for some of my weekly Bitcoin transactions from coinomize, I have consolidated them since the fee ranges from 3 to 5 sat/vb... it is still cheap and smooth.., I am very grateful that after ordinal is no longer so hyped, all transactions on the Bitcoin network are more comfortable because the traffic is not too heavy at this time.
It looks like this will last a little longer, as there are no signs of another explosion of hype transactions, but seeing the numbers below 5 sat/vb is a very comfortable number.

[bitmover]

Anyway low fees are here to stay, there is simply no pressure whatsoever, even a huge consolidation dump from Biannce on early morning didn't matter, I watched as 10 blocks of huge tx were just dealt with in a few hours, funyn as it might sound but maybe the Solana meme helped us getting rid of the junk created by hype here with ordinals.

I think fees may spike again (not to 500 sat/vB, but to 30-50 zone) if we see a huge volatility, specially any strong upward movement such as 110k+ price zone!!

We all know how people like to buy in the ATH zone, so we will see lots of movements. I am ready to this situation, as I have consolidated more than 250 UTXO in the last 3 months