New Site Predicts Bitcoin Fees and Transaction Times is a new tool that uses existing public data to inform Bitcoin users how much of a fee the network is currently expecting to transfer with limited delay. As seen in the following screenshot, a zero fee transaction can currently be delayed by up to five blocks, or roughly an hour (though sometimes longer).

Cointape Could Alleviate User Confusion

The topic of fees has been huge in the Bitcoin community as of late, centering around the size of default maximum size of blocks (how many transactions can be fit into a block) and the minimum fees users should pay. The current minimum to broadcast a transaction is zero. A pull request was made by Core Developer Luke-Jr to “restore minimum feerate to 10,000 satoshis,” but the request was not merged into mainline code.

More recently, as a result of the ongoing discussion amongst core developers and the larger Bitcoin sphere, maintainer David Harding felt it was necessary to remove all references to “low fees” and “instant” transactions from As happens perhaps too often, the pull request sparked a minor controversy around the purpose and

Read more ... source: CryptoCoinsNews