after i’ve taken an offer, i saw this: 0.001506 BTC (0.0010 BTC security deposit, 0.50% trade fee, 4.56% mining fee)
I read that bisq use this for the fees https://bitcoinfees.earn.com/api/v1/fees/list
I saw this high fees often in the last days.
Are there other tools than from bitcoinfees.earn.com ?
Well, you actually needed this great of a fee over the last few days if you wanted the transaction to get into the next block, so the fee estimator wasn’t the problem.
I agree that the mining fees are way too high, though. Personally, I would rather wait a few hours or even days for the trade to start than pay that much in fees, especially for such low-amount trades (which you can hardly avoid with the current harsh trading limits for new users…)
The problem is, most people seem to panic if the trading process gets interrupted for even a couple of hours, I guess that’s why it was decided to aim for confirmation in the very next block with the fees…
Thanks for the detailed answer, which I can partially accomplish. I do a lot of advertising for bisq because it’s a great thing. I would be glad if you still address the problem at a Bisq meeting. At Bitwala, I also have to wait a few hours but with lower fees, because they have an another algorithmus (not necessarily the next block)
Here are some other fee estimators
- https://whatthefee.io , https://whatthefee.io/data.json fees , Felix Weiss
- https://bitcoiner.live/
- https://jochen-hoenicke.de/queue/#1,24h
Following http://bitcoinfees.earn.com/ for some time, I find it is quite a good estimator.
a123b described quite well the problem.
imo, long term solution for traders is to go more and more on crypto/crypto trading.