We all pride ourselves on bitcoin this and bitcoin that.
I just set a very low fee for transactions on my electrum wallet. It's so low that is been hours and not even one confirmation yet. I assume that it will take days.
With this low fee, I had a look and it cost me .00041 btc for transaction. 8 dollars. Hahaha. Wow. Explain to me people, how is it better to use crypto currencies? Transaction taking days with a cost of 8.90 Australian dollars.
That's just pathetic.
Going back to Western union and bank transfers.
Looks like you intentionally set the fees so low. So what do you expect? I can't remember how much I set with my recent transaction but it took me around 48 hours if I'm not mistaken. I'm frustrated of course, but when I checked mempool its clogged with more than 200,000 unconfirmed transaction that time. But I'm happy that I get it in 2 days, unlike Western Union or Paypal which would allow you to get in 3-5 business days. Well, Lighting Network (LN) is being tested right now so it ever this will be implemented, this whole issue will be minimized.
If we do convert Australian dollar on usd then it would normally charged up 5usd which I do consider as high already and this fee is set out on default on electrum which I am using now.Its not actually low since I do consider this already as high and I cant imagine on the fee that you would need to pay up for a high priority transaction.It wont really be worth it at all. Network is congested right now expect miners would really demand for high fee.