Post
Topic
Board Beginners & Help
Re: Child Pays for Parent
by
RapTarX
on 05/11/2019, 03:55:42 UTC
you don't have to wait for a senior member to correct you as there are also some forum members below your rank with more explanatory answers to what you may not understand.
I know this forum is full of Legends of Bitcoin. With Senior member I actually referred to members who are here for long time, not necessarily with higher rank, I believe in experience  Cheesy Nevertheless, anyone can share their opinion if they have something to add here.


What using SegWit addresses does is make any resulting transaction smaller in terms of bytes, so the same fee rate in sats/vbyte works out as a smaller overall fee in sats. If you were to pay the same overall fee in sats as an identical transaction from a Legacy address, then your fee rate (sats/vbyte) would be higher, and therefore lead to a faster confirmation.
This is very confusing to everyone. So, segwit has nothing to do with fee(affecting indirectly though), it was generally implemented for reducing the transaction size? I used to think that it was for reducing fee.