Post
Topic
Board Mycelium
Re: Custom Fee
by
Kazimir
on 29/06/2017, 13:40:18 UTC
Maybe setting custom fees is too risky, many users will ignore the warning and mess things up by sending txs with ridiculous fees like 50 satoshi fee or so (not per byte, but in total  Wink). And then complain about their tx never coming through.

But currently, the automatic fees for the Low Prio and Economy settings are really WAY too high. I understand they are dynamic, which is great, but it doesn't reflect the current status of the network and memory pool.

Transactions with 20-30 sat per byte are currently getting confirmed without too much trouble. Typically within 2-3 hours. Transactions with 100 sat per byte or more get confirmed almost INSTANTLY (in first block after sending). Mycelium's lowest setting is currently 225 sat per byte or so, it's really way too high.

Can the dynamic fee algorithm please be updated? Transactions are unnecessarily expensive right now.