Post
Topic
Board Beginners & Help
Re: What are BitCoin Transaction Accelerator?
by
pooya87
on 21/08/2019, 05:03:44 UTC
Some users say that they exaggerate a bit, but I sometimes use this site because they show in simple way how much fee you should pay and predictions for confirmation in blocks / time. https://bitcoinfees.earn.com/

50x (or 5000%) higher fee is not a "bit exaggerated" it is wildly overpaying fees.

this is what the site is suggesting:


this is the block that was mined with this "suggestion:
https://www.blockchain.com/btc/block/0000000000000000000fcbab21457c82baeca3df2f7fc7f63c9c7c18f3a0d5e4?advanced=true
if you scroll to the bottom skipping the overpaying transactions you can see that about 20% of the transactions are paying 1 satoshi/byte and more than half are paying less than 20 s/b which makes 50 s/b a crazy fee to pay because it would put it among ~5% of the transactions in that block that are paying extremely high fees!


in fact i dare say this site and other broken tools like it are one of the main reasons for these high fees.