Gavin Andresen - 2014-04-03 15:30:34

@s{quotedtext} @s{quotedtext}
For low-priority transactions, it doesn't look to me like many miners are accepting lower fees.

Right now, a 999-byte transaction paying the reference-implementation-default fee of 0.0001 BTC will wait 2-3 hours to get into a block.

A typical 250-byte transaction paying the default 0.0001 BTC fee will see its first confirmation in 5 or 6 blocks (about an hour on average). If you want your transaction to confirm quickly, then right now you need to pay about double the default fee.

Some results running https://github.com/bitcoin/bitcoin/pull/3959 (more review/testing welcome) :

Code:
$ for i in {1..25}; do ./bitcoin-cli estimatefee $i; done
0.00077821
0.00044643
0.00044444
0.00044248
0.00044248
0.00038911
0.00038760
0.00026810
0.00024752
0.00022831
0.00020040
0.00017513
0.00016155
0.00014706
0.00013802
0.00012531
0.00011779
0.00011013
0.00010363
0.00010111
0.00008905
0.00008636
0.00007474
0.00006743
0.00004444