Saying BTC Fees are at 1 Satoshi Per Byte is Misleading

I have seen several people claiming that btc fees are 1 satoshi per byte. I checked the number of pending 1 satoshi/byte txs in the btc mempool and compared it to how many 1 satoshi/byte txs are included in btc blocks.

There are over 6,000 1 sat/byte txs sitting in the btc mempool according to https://jochen-hoenicke.de/queue/#1,24h.

Only 77 of the 1 sat/byte txs got into the last block. These numbers will change with each block but have remained fairly stable lately. Less people using btc for a while is the only way all of these txs will ever confirm.

Here are the fees paid in the last block (height: 511193 hash: 0000000000000000001bfe812ac583d9aadfa90f07aecb97378b6ed6ff75290f txs: 440)

The format is { "<sats/byte>": <qty of txs in the block> }

{ "1": 77, "2": 7, "3": 4, "4": 7, "5": 44, "6": 10, "7": 2, "8": 4, "9": 4, "10": 8, "11": 11, "12": 26, "13": 2, "14": 6, "16": 3, "17": 4, "18": 86, "19": 3, "20": 8, "21": 6, "25": 1, "27": 3, "28": 3, "29": 1, "30": 6, "31": 11, "33": 1, "34": 2, "36": 2, "37": 1, "39": 2, "40": 1, "41": 2, "43": 1, "44": 2, "45": 1, "46": 1, "48": 1, "50": 6, "55": 1, "56": 3, "57": 1, "59": 2, "60": 1, "61": 1, "62": 1, "63": 2, "64": 1, "65": 6, "66": 1, "67": 2, "68": 4, "74": 1, "77": 1, "81": 1, "82": 1, "83": 2, "95": 1, "98": 1, "100": 2, "101": 3, "103": 2, "104": 4, "105": 1, "110": 1, "112": 1, "119": 1, "122": 1, "131": 1, "132": 1, "138": 1, "150": 2, "151": 1, "165": 1, "177": 1, "196": 1, "201": 1, "415": 1, "442": 1, "469": 1, "601": 3, "604": 1, "692": 1, "800": 1 } 

You would be safe with 2 satoshis/byte until other people get the same idea, then it goes to 3 satoshis per byte and so on until the competition ends.

Edit: I did not notice originally that there are already a few thousand 2 satoshi per byte txs in the mempool. The miners are dropping off some txs earlier than jochen's mempool and that is how some 1 satoshi per byte txs are getting included. I cannot say for sure what a safe fee is.

submitted by /u/crypto_m3rchant
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