Post
Topic
Board Bitcoin Discussion
Merits 9 from 6 users
Re: Mempool full? Long transaction times + fees x10!
by
bitmover
on 02/03/2023, 19:29:33 UTC
⭐ Merited by Pmalek (2) ,pooya87 (2) ,KiaKia (2) ,ETFbitcoin (1) ,vapourminer (1) ,DdmrDdmr (1)
Something is brewing in the Bitcoin world? For the last 2-3 days I can I witness slow transactions and huge fees. I got used to 1sat/byte transactions and they always get through so I sent a couple of sats to myself but you can't imagine how surprised I was when I saw my tx is ~75mb from tip! My wallet suggested a fee of 10sat/bytes! So, what's going on? Is this connected with that ordinals mumbo-jumbo?  Huh

Take a look até http://mempool.space/ to get the fee rate you need to use, this is the best site available  for that.

Now you need 22 sat/vbyte for a confirmation,  which is not huge.

The reason is an app called Ordinals, something like an NFT using bitcoin.

Quote
The introduction of the Ordinals Protocol, which enables the development of Bitcoin-based NFTs, has coincided with significant changes to mempool activity and transaction size, new data by CryptoSlate and Glassnode show.
https://cryptoslate.com/how-ordinals-are-affecting-bitcoin-mempools-transaction-size/