# Gavin Andresen
# 2014-04-03 15:30:34
# https://bitcointalk.org/index.php?topic=551513.msg6053842#msg6053842

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

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. @p{par}

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. @p{par}

Some results running @s{(link)} (more review/testing welcome) : @p{par}


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