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10 minutes isn't really the drop of a hat. But why do you need your first confirmation in approximately the next 10 minutes so badly anyway, especially when it
by Jach 9y ago
10 minutes isn't really the drop of a hat. But why do you need your first confirmation in approximately the next 10 minutes so badly anyway, especially when it shows up in the mempool pretty much immediately? I paid around 20 cents on an approximately $200 transaction a couple weekends ago, it got verified after about 4 hours but I was expecting longer, it would have been fine. In the last 24 hours, 36,332 transactions were verified with at most 30 cents in fees. (https://bitcoinfees.earn.com/ https://bitcoinfees.earn.com/) The estimated time bounds for a transaction in that pool are 25 minutes to 14 hours.
- TD-Linux 9y agoJust knowing it's in your mempool isn't a very strong guarantee that the payment will go through. Probably fine for reversible digital goods, but not much else. Some systems pay miners to look at their block templates to get a better assurance it will confirm (and that it won't be replaced), but it's still not very good, and given that Lightning is now running on mainnet there's little value in continuing in that direction.