Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Some business/developers misunderstand how bitcoin fees works
by
stompix
on 05/10/2023, 13:51:12 UTC
⭐ Merited by albert0bsd (1)
You can still maximize your transaction chance to get confirmation but with increments like 1.1 sat/vbyte or 2.1 sat/vbyte which can make bigger difference than 1 sat/vbyte or 2 sat/vbyte as chance will be bigger and you can still save more satoshi.

Without knowing how the sanctions that are labeled on most graphs with 1-2 sat/b look you might achieve nothing.
Imagine you bump your tx to be 2.1 and not 2 and in reality, 98% of them are over 2.3sat/b, so your tx when confirmed might end in the same block as the round 2sat/b fee.

Bitcoin transactions are calculated in blocks and not time, so when you pay a higher feerate you are asking for it to be confirmed in the next block or next 2 blocks and not in the next minute.

Paying 300sat/b versus 100sat/b will not get you any advantage, what's what OP is saying. The chances of a 100sat/b tx right now to not get confirmed in the next block is close to zero, in two blocks it would have to be something a full order of magnitude more out of the ordinary.

Things liek this:
https://mempool.space/tx/a3f4bfe2dbbf55f39f923375b6486614e739b50390f776a101653666772ff158

are just stupid.