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Transaction fees are 5 cents in the last couple days. The mempool is empty (see https://mempool.space/ https://mempool.space/). If you are paying more, then tha
by bubersson 5y ago
Transaction fees are 5 cents in the last couple days. The mempool is empty (see https://mempool.space/ https://mempool.space/). If you are paying more, then that's an issue with the exchange or wallet that you are using.
- CyberDildonics 5y agoNo they aren't, you are misunderstanding that link. It gives an 'estimate' of 1 satoshi per byte. The actual current block is 12 satoshis per byte. Transactions are not a single byte of course. This is why the average transaction fee is $7 right now and was $60 a few weeks ago. https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m https://bitinfocharts.com/comparison/bitcoin-transactionfees...
- bubersson 5y agoMaybe you should actually check the blocks. If your transaction pays fee 5 cents it would easily get included in the mined blocks. Often immediately. As I mentioned, if people are using wallets or exchanges that set the fee higher, that's their fault. They are stupidly overpaying and that's why average is high. Since mempool is currently empty, the blocks include transactions with 1 sat/vB. For average transaction with 140vB that would be 140 sats, which is currently ~0.05 USD.