Post
Topic
Board Bitcoin Discussion
Re: I don’t think bitcoin is now decentralized
by
pinggoki
on 24/12/2023, 02:53:04 UTC
The confirmation time is not proportional to fee. If the fee is below certain threshold, your transaction will probably never be confirmed. Like, if you put a 1 sat/vByte fee, it may never be confirmed if the fee will never be so low ever again, or if so much time will pass that the transaction will be removed from mempool by then.
So at the end of the day, you really can't defeat the system that's reigning in the mempool, you'll still have to put some money into your transactions and not just lazily putting the lowest possible because you can wait for a long time for the confirmation? I didn't know that, thank you. It's kind of sad though that this is how it's going to be with transaction fees, you can't pay too low or your transaction won't come through but you don't want to pay absurd amounts just to have the normal speed in transactions. I hope these ordinals lose their charm before the halving.