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+--- Thread: [BTC] Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] (/showthread.php?tid=5788860)
Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - SIM-2015410 - Jan 22, 2018
Omniscient Wrote:I'd like to send you $5 BTC and you tell me how many satoshi I should pay per byte and we'll see how long it takes to confirm.
Give me a BTC address please.
After making claims of low fees in this thread: https://hackforums.net/showthread.php?tid=5787532
Omni wanted to test my claims out, and see if low transaction fee transactions really would get confirmed. So I got that PM ^
I had a look at the mempool, https://dedi.jochen-hoenicke.de/queue/#1w, and you can see all the light blue 30-50 sat/B transactions are cleared, so I picked 35 sat/B just to be solidly in that range and hopefully end up in the next block.
Omniscient Wrote:MeshCollider Wrote:Here's my address: [removed]
I think you should pay 35 sat/B just to be on the safe side
Ended up sending two $5 transactions because one of them from Electrum was a 20 sat fee and you wanted 35.
20 sat/byte
[removed]
34 sat/byte
[removed]
Both just got 1 confirmation in under 5 minutes which is shocking as fuck. I was using Electrum with the "dynamic fees" before and these payments were sent with that feature disabled.
So there you have it folks, next block confirmation with a 50 cent fee. No transaction accelerators, no high fees, no lightning network, just plain old bitcoin transactions. 🤗 🤗 🤗
RE: Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - L0Ki. - Jan 22, 2018
Yeah, the fee seems to be better now. i use dynamic fee on blockchain wallet and today it suggested me a 31 sat/b fee on a $400 transaction which is affordable.
https://blockchain.info/tx/1258d536e80530673e642857e39464849986819ca57beb8bbe0df3d5238ab78b
RE: Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - Omniscient - Jan 22, 2018
Yeah, fees dropped but unsure if it's because this day has been the first day that we're under 100k unconfirmed and the mempool is finally clearing up. But I can confirm that Mesh was right at least for now that fees are nearly normal again.
RE: Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - L0Ki. - Jan 22, 2018
(Jan 22, 2018 08:04 PM)Omniscient Wrote: Yeah, fees dropped but unsure if it's because this day has been the first day that we're under 100k unconfirmed and the mempool is finally clearing up. But I can confirm that Mesh was right at least for now that fees are nearly normal again.
I just hope it stays this way, tired of the high fee.
RE: Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - Deany - Jan 22, 2018
Thank god. Now I can accept BTC again for sales etc.
RE: Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - L0Ki. - Jan 22, 2018
I just did one more transaction with a 10 satoshi/b fee to HF for epic upgrade. Lets see how long it takes.
https://blockchain.info/tx/2c845a65810fde69240acb5e64abcbc395f10e64706e650690bf7919b9f85275
RE: Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - B0Trun - Jan 22, 2018
Thanks for teaching us Mesh , you are brilliant in crypto <3
RE: Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - Fudster - Jan 22, 2018
Could we see the TXID? I'm curious on the TX size, Time submitted and what block it got confirmed in.
RE: Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - Omniscient - Jan 22, 2018
https://blockchain.info/unconfirmed-transactions
Down to 70k now. That's great. Maybe, just maybe we'll have some normalcy again. I think part of it is that BTC prices are stabilizing just as I said between the 10-12k mark.
RE: Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - Malicious` - Jan 22, 2018
Let’s just say fees have stabilized for now. We all know what will happen when the media starts talking crypto again.
RE: Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - FamousHater - Jan 22, 2018
yea they going down cause everyones heading to eth
RE: Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - SIM-2015410 - Jan 23, 2018
To be honest you could probably send a transaction for almost no fee and it'd probably get confirmed in next block or two at the moment, this is awesome
RE: Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - L0Ki. - Jan 23, 2018
(Jan 23, 2018 02:46 AM)MeshCollider Wrote: To be honest you could probably send a transaction for almost no fee and it'd probably get confirmed in next block or two at the moment, this is awesome
My transaction is still stuck, paid 10 s/b fee. The transaction is for my epic upgrade on HF.
https://blockchain.info/tx/2c845a65810fde69240acb5e64abcbc395f10e64706e650690bf7919b9f85275
RE: Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - SIM-2015410 - Jan 23, 2018
(Jan 23, 2018 03:15 AM)L0Ki. Wrote: My transaction is still stuck, paid 10 s/b fee. The transaction is for my epic upgrade on HF.
https://blockchain.info/tx/2c845a65810fde69240acb5e64abcbc395f10e64706e650690bf7919b9f85275
Ah ok, keep waiting though man I'd bet itll be confirmed in next 24 hours anyway as long as this trend continues ✌
Recommend you always use RBF anyway so you can bump the fee a bit if needed
RE: Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!] - L0Ki. - Jan 23, 2018
(Jan 23, 2018 03:43 AM)MeshCollider Wrote: Ah ok, keep waiting though man I'd bet itll be confirmed in next 24 hours anyway as long as this trend continues  ✌
Recommend you always use RBF anyway so you can bump the fee a bit if needed
Problem is that I use blockchain wallet, and I don’t think it supports RBF yet. Their is one more problem which is that coinpayments only allow 12 hrs for confirmation out of which 6 hrs are already gone. I wish there was something I could do to get it confirmed asap besides submitting on free accelerators which I have been haha.