Here is a good site to visualize this: https://statoshi.info/d/000000020/memory-pool?orgId=1&from=now-2d&to=now
The green line in the top graph shows the total transaction size, while the white line in the middle graph shows the memory usage of those transactions.
Thank you so much for the explanation and the website which is bookmarked by me today.The green line in the top graph shows the total transaction size, while the white line in the middle graph shows the memory usage of those transactions.
Fortunately, there will be no real race here like in other times of congestion.
The actual capacity of the blockchain right now is over the daily transactions input, unlike the last event where we had more transactions each day and older ones despite paying higher than the averge at that time would be pushed at the bottom.
It is different than past congestion especially times when fee races are crazy with fee rate from 80 to 100 satoshi/ vbyte in 2020 or 400 satoshis/ vbyte in 2018.The actual capacity of the blockchain right now is over the daily transactions input, unlike the last event where we had more transactions each day and older ones despite paying higher than the averge at that time would be pushed at the bottom.
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Right now you just have to outbid Binance 13.5/sat and you will get a confirmation just as you would with 1 sat last week, some will panic and pay more but there are not enough of them to outbid you and leave you outside the blocks for more than a few hours.
You just have to pay 14sat instead of 1sat/b, 50 cents is not the end of the world if you're in a hurry.
I know but it is still more expensive than usual. It is still bad for people who don't know about bumping fee with Replace-by-Fee or Child-Pay-For-Parents.You just have to pay 14sat instead of 1sat/b, 50 cents is not the end of the world if you're in a hurry.
After two days, it has been reduced a little bit in mempool but will Binance spam it again after increase their withdrawal fee on users.