Mining fee query

Hey, can somebody here tell me about mining fees?

Basically, I only ever send about £200 at the most for small orders, and I've always just left the mining fee to 0.0005BTC/kB, but the last time I sent coins over my transaction got stuck for over 24 hours before getting a single confirmation.

I've read that not paying high enough mining fees can either prevent the TX from being picked up, or cause it to take forever for someone to pick it up, and I'm not sure whether that default fee setting in Electrum is enough for the amount of coins I'm sending over.

Or could it just have been an isolated case of congestion on the bitcoin network that caused my tx to get stuck for so long?

Any advice would be greatly appreciated, thanks in advance.


Comments


[4 Points] ewanh19:

Yes.


[1 Points] Darknet_Retard:

The Electrum default fee should always be fine. That being said, if you're lazy like me and don't care about a couple extra bucks, I usually set my fee pretty high (like .009) so I never have to worry about this scenario. Also, my BTC always get where they need to be ASAP because my transcation is so high priority with a large fee like that.

In your case, you should be fine if the fee was generated by Electrum itself unless you hear otherwise in the BTC community that something is going on like a few months ago and the blockchain was super cluttered.