Fee Paid vs Confirmation Time

Question

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?

Answer 1

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

Answer 2

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

Answer 3

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.