Home Upgrade Search Memberlist Extras Hacker Tools Award Goals Help Wiki Contact

Bitcoin 

Me & Omni's Transaction Fee Experiment [50 cent fee confirmed in next block!]

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. 🤗 🤗 🤗
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/1258d536e8053...d5238ab78b
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.
(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.
Thank god. Now I can accept BTC again for sales etc.
[Image: oGzLpzM.gif]
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/2c845a65810fd...19b9f85275
Thanks for teaching us Mesh , you are brilliant in crypto <3
Could we see the TXID? I'm curious on the TX size, Time submitted and what block it got confirmed in.
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.
Let’s just say fees have stabilized for now. We all know what will happen when the media starts talking crypto again.
[Image: efd2Awe.png]
yea they going down cause everyones heading to eth
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
(Jan 23, 2018 02:46 AM)SIM-2015410 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/2c845a65810fd...19b9f85275
(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/2c845a65810fd...19b9f85275

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
(Jan 23, 2018 03:43 AM)SIM-2015410 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.


Possibly Related Threads...
Thread / Author Replies Views Last Post
by OmniscientFeb 6, 2026 05:28 AM 7 357 Feb 6, 2026 05:28 AM
Last Post: Aeowulf
by KalvaxasMar 20, 2024 07:17 PM 0 163 Mar 20, 2024 07:17 PM
Last Post: Kalvaxas
by MagickNov 29, 2023 12:36 PM 27 1,018 Nov 29, 2023 12:36 PM
Last Post: Omniscient