Below 1 sat/vbyte fees - are they here yet? \ stacker news ~bitcoin

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Below 1 sat/vbyte fees - are they here yet?

1113 sats \ 10 comments \ @Signal312 6h bitcoin

I've seen these on mempool.space - for instance this block has a fee range of .17 to 100 sats/vbyte.

Which wallets are people creating these in? At one point Sparrow, for one, didn't allow that. But obviously things may be changing, or have changed already.

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0 replies \ @Signal312 OP 6h

Oops, forgot the block - it's this one - https://mempool.space/block/000000000000000000020a852eec4de2f78f03b495276a0abb6d62ea726e9c34.

The fee range is between 0.20 - 130 sat/vB.

77 sats \ 7 replies \ @m0wer 6h

Sparrow does allow for fees lower than 1 sat/vB. You just need to connect it to a Bitcoin node that has a lower minrelaytxfee 😎

0 sats \ 6 replies \ @Scroogey 4h

How does the node react if all peers have standard minrelaytxfee? Keep it in its pool and periodically try to send it? Or does it try to connect to peers with low minrelaytxfee?

10 sats \ 5 replies \ @m0wer 4h

For some reason I always have peers that broadcast transaction with lower fees. Without even hardcoding any. You could force the connection to some specific peers if you want to make sure. I think transactions in the mempool are not rebroadcasted by default.

0 sats \ 4 replies \ @Scroogey 3h

What is the unit of that setting?

https://github.com/bitcoin/bitcoin/pull/33106

seems to agree that minrelaytxfee=100 means 0.1 sat/vB.

With minrelaytxfee=100 I see

[warning] -minrelaytxfee is set very high! The wallet will avoid paying less than the minimum relay fee.

Edit: and Electrum shows error 'min relay fee not met' when trying to publish a 0.3 sat/b transaction (through electrumpersonalserver).

0 sats \ 3 replies \ @m0wer 3h

Yeah the units are a bit weird: BTC/kvB.

This is my conf. The second one is to raise data limits already, but this is more controversial nowadays.

# relay settings
# min relay fee of 0.01 sat/vB
minrelaytxfee=0.0000001
datacarriersize=1000000

27 sats \ 2 replies \ @Scroogey 3h

I now set mine to

# in BTC/vkB, so 0.1 sat/vB is 0.000001
minrelaytxfee=0.000001

and successfully made a transaction with 0.3 sat/b in Electrum!

0 sats \ 1 reply \ @Scroogey 2h

But it doesn't reach the miners or doesn't get picked... Not visible on blockchain explorer, either. Seems like it doesn't propagate.

0 sats \ 0 replies \ @m0wer 2h

Some miners don't pick transactions under 1 sat/vb.

You can check if at least it propagated through the network. Checking https://mempool.space or similar.

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0 sats \ 0 replies \ @hasherstacker 3h

Thank you. Thanks much