Is Mempool.space Accurate for Fee Estimates?

I used to trust mempool.space for fee advice but lately it seems overpriced. I sent a couple of transactions at 6 sat/vB, and they got confirmed fairly quickly, like within three or four blocks. Not sure if I should still rely on it, though.

Mempool congestion is all over the place. Sometimes it spikes, sometimes it drops. Remember, if the mempool congestion decreases, you can get away with lower fees. Right now, anything under 5.96 sat/vB won’t even go through.

Honestly, it’s best to analyze the mempool yourself if you want accurate estimates. I check jochen-hoenicke’s site for a more precise view. At this moment, mempool.space shows 11 sat/vB for high priority, but I see transactions being processed at just 7 sat/vB.

Johoe’s mempool stats are great. Shows how fees have fluctuated over the last day. I mean, if you had tried to send a 6 sat/vB transaction yesterday, you’d be waiting for ages. You can’t really predict those spikes.

Right? Those estimates are based on what’s happened, not what will happen. Your transaction’s confirmation depends on future blocks and transactions. It’s just that an estimate.

True, but estimates can be really misleading sometimes. The longer you project, like 48 hours, the trickier it gets because future mempool states are unpredictable.

I feel you. I prefer using jochen-hoenicke too. Mempool.space is kind of a mess design-wise. The color bands are annoying; it mixes hot and cold colors weirdly. It’s like they want to confuse us.

Wow, never thought mempool.space was that unreliable. It’s usually praised here; they give the info straight. Are those color bands that important?

For newbies, mempool.space is decent. But for those who understand mempool nuances, jochen-hoenicke is definitely better. I have good experiences with mempool.space too.

Fees change all the time. You might use a lower fee, and suddenly it gets confirmed because the fees dropped temporarily. I just pay higher fees for peace of mind.

Just saw that under 7 sat/vB got mined in the last block. But there’s this one transaction where the fee seems insane for the amount sent. Some folks really overpay.

Yeah, but using the site isn’t hard. Just checked jochen-hoenicke; tons of transactions at 1 sat/vB. Setting it at 7 sat/vB should get my transaction confirmed faster.

You can see a lot of overpriced transactions in blocks. Miners only include higher-fee transactions first. The last block had a ton of high fees while 8 sat/vB would’ve done it.

I like keeping my fees low. Trying to stretch as many sats as I can. That little transaction could have covered an extra month on my VPN.

With privacy in mind, is it worth paying extra for fees that are high? Maybe donate that money instead to something beneficial.

Sometimes mempool.space recommends 6 sat/vB and then boom, fees jump to 26 sat/vB in minutes. You really can’t blame the site for that.

It’s not just about the fee. Some people pay ridiculously high fees for tiny amounts. Like, paying 8 sat/vB for a small amount? Madness.

If your change goes below the dust limit, it’s pretty much your only option. I've definitely messed up fees trying to hurry things.

Mempool.space is open source, so if you wanted, you could host it yourself. But if not, just cross-check fees from various sources to get a median.

I made an add-on that pulls data from multiple sources, including mempool.space. It quickly lets you see the state of the mempool. Just remember, estimates are just that.