Post
Topic
Board Bitcoin Discussion
Re: Your Experience with Bitcoin Fees?
by
pickledmuffin
on 27/08/2018, 07:17:53 UTC
I just did a transaction where I paid 1 cent in fees and it confirmed on the next block. Not only that but the next block came within half a minute of me doing my transaction.

The whole thing was almost implausibly good.

Generally, I always worry about fees but they never amounted to much in my experience of bitcoin. I don't do anything special. I use the latest stable version of bitcoin core and let it calculate the fees for me, I just use default settings.

According to bitinfocharts the average is $1, but my transaction of 160 something bytes only took 0.01 cents.

According to https://bitcoinfees.earn.com/ I should have paid 4 satoshis per byte, amounting to 0.04 cents.

I remember back in Christmas last year when the market was going crazy, the only way to move bitcoin relativley quickly was to pay more in fees, something like $15 - 20 would cover it fairly quickly <10 min.