Crypto News & ICO Reviews
When mempools are congested, ppl are complaining about high fees. Yet we rarely see posts about how small fees can be when there is no congestion. Like today, just a few examples:
- https://blockchain.info/tx/387a21612e62926ca862d4ca363e0ef86ca32bf5217ded9a161b9719541e7d11 – 10 sat/B
- https://blockchain.info/tx/8d5679f040eaf2b33d85e4f63762b3b0b7f6ce8dacc72a331c592f412f3624f2 – 10 sat/B
- https://blockchain.info/tx/b0df723ed400e2b7f0cd382e1a20cd96e0e1e1511a6d052480ff7b58fe208f88 – 10 sat/B
- https://blockchain.info/tx/482ecfa9e52f9812d53471fe7764ecfb5ebccb89700aba1410fe623c177ea280 – 2 sat/B
- https://blockchain.info/tx/2d1925a0f3b110eb0db412ab2c17cf70d721ffa1201d4b429ea92d93100aa3a0 – 26 sat/B
- https://blockchain.info/tx/82c781601c2a428c8647b20270ca7d06a077340622e0482f22be1e4701d31bf9 – 16 sat/B
There are hundreds of such transactions in recent blocks, but still many ppl use very high fees even when it is not necessary. Here are some examples of transactions from the very same blocks as the above low-fee transactions:
- https://blockchain.info/tx/e2e322774892728eeb804e06f76a75da67000f51878a2b772af367e0611b9a5f – 889 sat/B
- https://blockchain.info/tx/3c9820b240487db57d95e5ebc9cb66d471cc3ef2e3fcc45764c35add0e3d9636 – 8064 sat/b
- https://blockchain.info/tx/17d6ad466ad430c6a6ed2e0f217d27a560fbb92a42dab502a368df0581be6287 – 442 sat/B
- https://blockchain.info/tx/30f4138e575622eb4ebdd461b9650461efdc21f1c4b96abd980229c93aed1f43 – 282 sat/B
And these are not transactions that waited in the mempool for ages and finally they got though. No, these are created within 12 minutes of their mine time. And if you look at those blocks, a majority of transactions is paying too much, right now, when it is not necessary.
These are often caused by wallets with static fees settings, you see the fee being 0.002 BTC or 0.001 BTC regardless the size of the transaction in bytes. You should save those money on fees and use them if you need a quick transaction when there is a high demand.