• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Crypto Market Structure Bill: Senate Sources Indicate Draft Release As Soon As Tomorrow
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Crypto Market Structure Bill: Senate Sources Indicate Draft Release As Soon As Tomorrow
bitcoin fees

New Data Shows Users ‘Overpay’ as Bitcoin Fees Lower Than Wallets Suggest

Esther Kim
by Esther Kim
Last Updated: April 5, 2019 2:00 pm
·
Posted in News, Bitcoin, Bitcoin Businesses, Bitcoin Technology, Blockchain, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin users are overpaying significantly on transaction fees, new analysis warned April 4 as the cryptocurrency’s bull run sparked a surge in activity.


Fee Estimators ‘High’

Data published on social media by Bitcoin education and consultancy organization Bit Consultants shows an ongoing mismatch between required fees and those selected by users.

The Bitcoin price had risen significantly earlier in the week, accompanying a sudden uptick in transaction volume on the Bitcoin network, pushing up fees as blocks became fuller.

Bitcoin’s mempool – the size of the total number of unconfirmed transactions – similarly peaked, before dropping off Friday.

Despite the phenomena, users were still paying too much to have their transactions confirmed in a timely manner, Bit Consultants warned. This, researchers suggest, is due to consumer wallets incorrectly estimating the appropriate fee rate.

“Even at these levels next block fee is only 0.00003100 BTC ($0.15),” they summarized on Twitter. “Fees aren’t high, the fee estimators are[.]”

Balancing Act

As Bitcoinist reported, fees have previously formed a major topic of debate as periods of increased activity saw long delays and huge charges for users.

Network robustness has since increased dramatically, resulting in the current uptick bearing little resemblance to previous scenarios such as in 2017 during Bitcoin’s progress to its $20,000 all-time high.

Critics have meanwhile warned that rock-bottom fees will not go on indefinitely, despite progress on alternatives to on-chain transactions such as the Lightning Network making rapid progress.

To mitigate the problem in the short term, Bit Consultants recommended using wallets with better features for estimating and handling fees.

These should have customizable fee amounts for end users, ‘replace-by-fee’ capabilities allowing a user to replace a transaction fee with a higher one, and ‘child pays for parent’ – looking at the history of a transaction in order to determine its mining priority.

Users should also consult the mempool prior to sending a transaction, and ensure the fee rate is suitable for inclusion in the next Bitcoin block.

At press time, popular Bitcoin wallet Blockchain.com recommended at fee rate of 64 satoshis per byte. Despite its status, Blockchain has yet to deliver Segregated Witness-enabled Bitcoin addresses as standard, a feature which contributes significantly to keeping fees low.

Earn.com, another popular resource for estimating suitable network fees, gave a much higher suggestion – 160 satoshis per byte, which it described as the “fastest and cheapest” option.

What do you think about current Bitcoin fees versus those recommended? Let us know in the comments below!


Images via Shutterstock

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Esther Kim

Esther Kim

Follow

Full Profile

Related Posts

Strategy przeniosło 2.45 mld usd

Firma Strategy przeniosła 2.45 mld USD w Bitcoinach do nowych portfeli. Likwidacja czy restrukturyzacja? 

8 hours ago
Saylor

Strategy’s Saylor Says It’s Not The Time To Buy Rivals – Details

9 hours ago
Биткоин

Институциональные инвесторы ускоряют перераспределение биткоина

9 hours ago
trump токен

Меме токенът TRUMP поскъпва след понижения на лихвите. $MAXI може да е следващият голям хит сред меме койните

13 hours ago
Bitcoin ส่องสว่างสร้างสะพานเชื่อมไปยังตึกของสถาบันการเงิน สะท้อนถึงการลงทุนใน Altcoin ที่กำลังจะตามมา

ตามรอย Bitcoin! Altcoin ETF จ่อเปิดประตูรับเงินสถาบัน

14 hours ago
CZ

CZ Vs. Warren: Crypto King Threatens To Take US Senator To Court

15 hours ago
Please login to join discussion

Premium Sponsors

Press Releases

  • What XRP Tundra Means for the Future of XRP in the DeFi Ecosystem

    What XRP Tundra Means for the Future of XRP in the...

    11 hours ago
  • kcex-trading-showdown-bonus-review-tw

    ...

    13 hours ago
  • trump токен

    Меме токенът TRUMP поскъпва след...

    13 hours ago
  • Czhang on How LBank Is Using AI and 100x Tokens to Shape...

    15 hours ago
  • Is Staking Crypto Worth It? XRP Tundra Presale Offers 12% APY

    Is Staking Crypto Worth It? XRP Tundra Presale Offers 12%...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.