PSA: Nearly free transactions for the next few hours/days. Sweep your dust and switch to segwit style addresses.

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Because of the Bitcoin Cash EDA oscillation there is a huge amount of hashing power on the Bitcoin chain right now. This means transaction with fees of 3-5 Satoshis per byte are very likely to clear. It is a good idea to take advantage of this and consolidate any very small "dust" inputs you have lying around into a single address. Also, it would be a good idea to transfer coins to a segwit capable address at the same time. Remember to set a custom fee and put it at 3 sat/byte or somewhere around there.

For those of you who use bitcoin core as a wallet, you can create a segwit address by going to the console and running the following two commands:

getnewaddress

addwitnessaddress address_from_previous_command

This will give you a segwit address (starting with a 3), and you can send your coins there. Currently the mempool is pretty empty so setting a fee of 10 sat/byte should get you in soon enough. Once your coins are at the new segwit address, any future spends from that address will be about 1/3 cheaper for you and save space in the blockchain for everyone else.

submitted by /u/andrewbuck40
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247 Bitcoin

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