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General Discussion Thread: November 2023 (self.bitcoin)

submitted 1 year ago by Void_Sloth to c/bitcoin

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[–] [email protected] 3 points 1 year ago (1 children)

What's everyones thoughts on the Lightning network? Sending payments has been fine in my experience, it's almost as fast as something like apple pay.

[–] Void_Sloth 3 points 1 year ago

So far I've found it too be great. Currently using Wallet of Satoshi, which was super easy to set up. Payments are pretty much instant and haven't had any problems at all.

For now I'm just using it to throw people some sats on nostr for good content, but I'm sure my usage will grow as adoption continues.

[–] amenotef 3 points 1 year ago* (last edited 1 year ago) (1 children)

Anybody has some quick tip for calculating bitcoin fees? (Like, go to this page, do this and this, voilà!).

Yesterday I did a Bitcoin transaction and paid 3.73$ fee. This was using the Android "Bitcoin" app and selecting the default "Normal" fee (there are 3 options. "Economic", "Normal", "Priority").

However in mempool.space the transaction got the warning "Overpaid 2x" and the transaction got confirmed almost instantly. The transactions was with 1 input and 2 outputs.

So I'm looking for 2 things:

A better Android wallet that can let me put a custom fee (so I don't overpay next time. Maybe I could had spent 2$ and wait 1-2 hours.).
Some tips to calculate the fee. I end up using lot of different pages, but never getting the "right" fee.

Update: I ended up switching from "Bitcoin Wallet" wallet to "Green" wallet on my mobile phone.

[–] O_i 3 points 1 year ago (1 children)

I use mempool.space to check fees, I’ve never had an issue that gives me wrong info that makes me overpay. Maybe because it uses USD ?

[–] amenotef 2 points 1 year ago* (last edited 1 year ago) (1 children)

I ended up ditching the app called "Bitcoin wallet" for android and started using the app "Green". This one at least let me use custom fees and also set the fees by sat per vB.

But yeah basically my transactions are of 140.5 virtual size.

So now that I know this I can just go to bitcoinfee.net (or the site you mentioned ) and multiply the sat/vB of preference by 140.5

Thanks!

[–] O_i 1 points 1 year ago

Oh I didn’t even consider the bigger the transaction size the bigger the fee?

Although I fell you can always just choose like 5sats

[–] Nerrad 2 points 1 year ago (1 children)

Where is general diss for December? $42K #Bitcoin should get at least a little discussion on Lemmy. Don't send me back to r/Bitcoin!

[–] Void_Sloth 2 points 1 year ago

Thread for December is now up.