Quote from: markcolls on December 07, 2020, 12:21:23 AM

I finally figured out how the mempool and fees work and I've been watch the mempool constantly for a few days now. I have noticed lots people including ridiculously high fees. Like when 50 sat/vbyte is the minimum there were people including 6000 sat/vbyte. Or when 2 sat/vbyte would be enough like 30% of the people were setting there fees at 60 sat/vbyte. Why do people set their fees so unnecessarily high? Is it simply because of how default fees are set in wallets, by exchanges, or by services? If so, why do professional developers miscalculate the fee so poorly?

Does anyone know how to setup the minimum fee in the electrum while sending the coins. If we set the very low fee, how long will it take for the coins to reach the destination.
These are some common questions which everyone wants to know about them so they feel comfortable lowing the tx fee.