Stop overpaying fees! I made a website to give better fee estimates. The goal: simpler and more accurate by observing mempool flows.

Hey there!

Today I'd like to show you a small project I've been working on: https://bitcoiner.live/

Basically, this is the tool I wish existed, to be able to use it myself quick and easy or to recommend to newcomers when they ask questions about fees. Existing tools are either too complex with too many numbers or have a tendency to overestimate fees.

So I built this fee estimator with the following goals:

  • simplicity, the home page goes straight to the point
  • reasonable estimates: to achieve this I developed a custom algorithm that looks both at the current weight and velocity of transactions entering the mempool at different fee brackets (more details in the "how it works" tab). This is unlike some other websites that look at the previous blocks and return the median fee which yields huge overestimations, since one doesn't need to pay the median fee but just the minimum to get included in a block.

Of course, no algorithm is perfect and it certainly cannot predict when a huge spike of transactions is about to happen. But so far its output seems to correlate pretty well to what I would manually set by looking at mempool graphs.

Optionally, you can select any of 3 estimation "profiles":

  • standard: is the default one and aims to strike a good balance between cost and accuracy.
  • optimistic: slightly underestimates if your objective is fee minimization before accuracy. It might work out if the next blocks are pretty lucky, but it might take longer otherwise.
  • cautious: on the other hand is pretty greedy, use it only if you really want to be sure to target the next blocks or so even if the next blocks turn out unlucky.

As always, feedback is welcome 🙂

If there is interest I'll release the source code!

submitted by /u/bitbug42
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Bitcoin – The Currency of the Internet

Venezuela UPDATE. 1 BTC is 27,000,000 Bs. Last week it was 23,000,000 Bs. Monthly minimum wage down to 3.5 USD. 1,454 BTC were traded last week. More than 2,000,000 of minimum wages.

Hey guys, situation is the same here.

https://coin.dance/volume/localbitcoins/VES/BTC

https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/

https://dolarsatoshi.com/

Some people dont believe the MONTHLY minimum wage is around 3.5 USD (67,000 satoshis) , here is some proof:

https://www.reuters.com/article/us-venezuela-economy/we-all-earn-the-same-venezuela-minimum-wage-hike-angers-skilled-workers-idUSKCN1M62OX

You can see the minimum wage here :

https://www.reuters.com/article/us-venezuela-politics-wage/venezuelas-maduro-hikes-minimum-wage-300-percent-idUSKCN1P82E2

18.000 BS. per month

And the official exchange rate is now 4113 Bs. per USD. http://www.bcv.org.ve/

(Last week is was 3,302.24) BS. Per USD.

18,000 / 4,113 = 4,36 USD

(Street rate is around 5,000 Bs per USD, that is why the 3.5 USD figure)

submitted by /u/WorkingLime
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Bitcoin – The Currency of the Internet

Elon Musk, SEC Need More Time to ‘Put on Their Reasonableness Pants’

By CCN: Elon Musk and the SEC are talking, demonstrating progress in a regulatory battle that has been drawn out for months. While the Tesla CEO and the securities regulator have yet to reach an agreement regarding a contempt of court dispute, they could be close. Musk and regulators have requested a one-week extension from a federal judge who recently advised them to “put your reasonableness pants on” and settle the Twitter spat. Trouble in Tesla paradise began for the South African entrepreneur and CEO two months ago when Musk issued tweets that the SEC claims violated an agreement it

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Instant in browser micro-payments with almost zero fees powered by Bitcoin and WebLN. No invoice copy/paste, less UX fraction for users. Looking to see more services adopting WebLN allowing not only payments but user authentification and more.

Instant in browser micro-payments with almost zero fees powered by Bitcoin and WebLN. No invoice copy/paste, less UX fraction for users. Looking to see more services adopting WebLN allowing not only payments but user authentification and more. submitted by /u/carlosbit
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Bitcoin – The Currency of the Internet

Tesla Stock Soars as Congress Plots More EV Handouts

Tesla stock jumped on Wednesday after US lawmakers proposed expanding federal tax credits for EV vehicles. The move provides Elon Musk with a helping hand as he seeks to prevent lingering demand problems from ransacking the company’s forecast. Shortly before the closing bell, TSLA shares traded at $ 277.15 for a session increase of 1.78%. Tesla Stock Could Receive Huge Boost from EV Credits Tesla might be well off its recent highs, but its share price continues to hold at the bottom of a long-term trading channel. It’s a pretty wide channel, but these have been trying times. Elon Musk has

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News – CCN