Post
Topic
Board Beginners & Help
Re: Current BTC fast transaction minimum fee?
by
sandy rivers
on 27/09/2017, 03:54:20 UTC
Alternatively you can use: https://bitcoinfees.21.co/
Alternatively you can use: https://bitcoinfees.21.co/

Can someone enlighten me? Can someone explain it.

What are thos link I clicked it all I see is charts and rates of Bitcoins and Satoshi.

Please and thank you for a helpful and understandable answers for noob like me.


If you open that page, you'll see that at the time of writing, the mempool contains
~10k unconfirmed transactions with a fee between 0 and 20 sat/byte
~8k unconfirmed transactions with a fee between 21 and 40 sat/byte
~1k unconfirmed transactions with a fee between 41 and 60 sat/byte
...

Since a block contains ~2000 transactions, your fee should be high enough to put you in the top 2000 transactions, that way you have a decent chance of getting your tx into the next block.

The graph also shows you the estimated waiting time for a 95% chance of getting into the next x blocks with any given transaction fee. For example, at the time of writing, adding a 20 sat/byte fee will give you a 95% chance of getting your transaction confirmed within 840 minutes.

Under the graph, there is a text that currently reads:
Quote
Which fee should I use?

The fastest and cheapest transaction fee is currently 180 satoshis/byte, shown in green at the top.

So, basically, if you add a fee of 180 sat/byte, you should be fine.


good to know about this. Thanks for the info.