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For instance take a look at this transaction:
Transaction Size : 1700 bytes
Fee: 133 Sat/Byte
Total: 0.00226898 ~ $33
Outputs: 11
Inputs: 2
what may cause confirming delay, and is sending with higher fee's helps us avoid issues like this? if so, Bitcoin transactions are so expensive , No?
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You can check this site for average Bitcoin transaction fees
https://bitcoinfees.earn.com
133 Sat/Byte is below the average, therefore not favored by most miners. In times like this where the network is congested with over 200000 uncomfirmed transactions, higher fees have higher probabilty of getting through first.
A block can hold at maximum 1MB / 192 bytes = about 5200 transactions, but in reality the average is less than half that number, and a block takes on average 10 minutes to solve.
Right now there are more incoming transactions per 10 minutes, than what the miners are capable of solving, hence low fees != prioritized .
If i've made a transaction with 400 sat/byte and a transaction with 10000000 sat/byte. the miners will accept the transaction with highest fee first? in other words if each transaction of a block has 1 btc fee and i've sent a transaction with 400 sat/byte fee the miners will accepts transaction with 1 btc fee before my transaction?
thanks for the help. – Adam – 2017-12-08T18:16:29.303
1Not always, but when there are a lot of transactions in the mempool the miners tend to be more picky. They can be configured to only accept transactions that are sent with a certain minimum fee.
If you had made two transactions right here and now, one with 400Sat/Byte fee and another transaction with 1BTC/Byte fee,and both sent at the same time. Yes, there is a very HIGH probability that the 1BTC/Byte will be accepted into a block and confirmed before the transaction with 400Sat/Byte fee. – Chak – 2017-12-08T21:35:05.617
However if you made one with 600Sat/byte and another one with 1BTC/Byte, there is a very HIGH probability that both transactions will be accepted into the same block and confirmed at roughly the same time, orders cannot be guaranteed. At https://bitcoinfees.earn.com/ you can tell that transactions sent with fees higher than 520+ Sat/Byte are certain to be included into the next block.
– Chak – 2017-12-08T21:37:10.380