Post
Topic
Board Bitcoin Discussion
Re: The fees are crazy, 420 satoshis/byte, WHY?
by
markjamrobin
on 17/05/2017, 16:13:36 UTC
It's at 450 now but bear in mind this is the estimation to very likely get confirmed in the next block... the median fee is half that and still gets confirmed in hours (yes, I can't believe I'm thinking hours is reasonable now but I actually am getting used to it).

To be fair, my largest txs are all around 250 bytes or so... after learning to keep em small. So I'm still paying a pittance in terms of %.

Would you mind to share your skill on how to make transaction size smaller?  I knew that using changing addresses would make size bigger.

it is not something you can do after the fact, you should do it before.
for example you shouldn't receive a lot of small transactions like 0.001BTC if it is a service and you are getting paid or withdrawing, then wait until it accumulates to a bigger amount and then request payment.


I see. For a same amount (accumulated from certain transactions, lets say 1 BTC), less transactions smaller size, more transactions bigger size, isn't it?
Certainly, and now, the trading floors are seeking to optimize that. They are increasing transaction fees to increase its speed, we and they all pay a high fee for fast execution