1

I there a graph correlating fee size and confirmation time?

A graph where I can see the fee paid by transactions which got confirmed in less than 20 minutes. Is there a graph like that?

  • All you should care about is time to first confirmation. The rest is random and independent of the fee paid. – David Schwartz Nov 7 '13 at 22:45
  • @DavidSchwartz OK, I changed that part of the question. – dijxtra Nov 7 '13 at 23:38
  • 1
    It should likely be fee/byte vs confirmation time, not just fee. – Pieter Wuille Nov 7 '13 at 23:55
2

I put together this script that spits out a table of exactly that information directly from your full node:

fees:

#!/usr/bin/env bash

getprice () {
  curl -sL 'https://api.bitfinex.com/v2/tickers?symbols=tBTCUSD' | jq '.[0][1]'
  #curl -sL 'https://api.quadrigacx.com/v2/ticker' | jq -r .last
}

n=${1:-100}
size=${2:-226}
price=${3:-$(getprice)}

for x in $(seq 1 $n)
do
  bitcoin-cli estimatesmartfee $x
done \
  | sed -e 's,\(0.[0-9]\+\),"\1",g' \
  | jq -r "[.feerate, .blocks, (((.blocks * 10)/60)*100 | floor)/100, (.feerate | tonumber | ((. * $size)/1000) * $price) ] | @tsv" \
  | sort -n -u -t$'\t' -k1,1 \
  | tac \
  | column -t -s $'\t'

usage:

All arguments are options. jq required.

fees [blocks] [tx size] [price]

outputs:

feerate     blocks  hours   fees (fiat)
0.00128259  2       0.33    1.65150777465
0.00110992  3       0.5     1.4291718392
0.00105930  6       1       1.3639917555
0.00100597  8       1.33    1.29532218095
0.00096015  13      2.16    1.23632274525
0.00091192  14      2.33    1.1742201092
0.00082616  15      2.5     1.0637925316
0.00079090  17      2.83    1.0183905215
0.00056060  20      3.33    0.7218481809999999
0.00005352  25      4.16    0.06891422520000001
0.00005093  61      10.16   0.06557925055000001

then you can

bitcoin-cli settxfee 0.00105930

the satoshis per byte are simply

$ bc <<< '(0.00105930 * 100000000)/1000'

105
0

For the sake of this question's PageRank, there is now such a service: https://bitcoinfees.21.co/ .

0

I have made a similar graph here

https://estimatesmartfee.com/

It shows how much fee transactions pay and how long they are in mempool. (Which is different from what you are asking, but similar.)

It's not very pretty, since I didn't have time to add CSS yet.

Note that it doesn't get CPFP into account at all.

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