Does the Bitcoin Fee change the Speed of the Transaction?

Hello is it truth that a Custom bitcoin fee for example on the bitcoinfees site, will change the Speed of the Transaction.


For Example:

If i will choose the Regular Fee it will takes: 30 Minutes

And if i will look on the Site "Bitcoinfees" and find a good fee and use this fee as custom fee it will be as fast as possible?

If you choose high priority you have to pay more fees and it's faster.

Quote:

Originally Posted by Nivea Soft If you choose high priority you have to pay more fees and it's faster.

I mean Custom Fee this not ever means that the Fee have to be high just custom from this site google it "Bitcoinfees"

Quote:

Originally Posted by GERVobis I mean Custom Fee this not ever means that the Fee have to be high just custom from this site google it "Bitcoinfees"

more fees = faster

every transaction got into the mempool, the miner collect now this transactions that he want (mostly the high fee transaction) and mine the block.

Honestly, it's a good question. I've never thought about it, but now I would probably agree with Nivea Soft. Thinking logically, the speed is faster if the transaction priority is high. That should be the same with custom fee, IMO. But I could be wrong.

btw. BTC blocktimes are 10 minutes
so at worst, even if you paid a really high transaction fee, you would need to wait up to 10 minutes to get your transaction "confirmed" into a block
exchange sites even require several confirmations (adding ~10 minutes per confirmation)

some vendors may choose to allow 0-conf transaction (meaning you don't to wait for a confirmation, if it's in the mempool waiting to get into a block, you are fine)
but that is almost replaced with RBF (Replace-by-fee) which allows to send a tranction again with more fees attached, making 0-conf unreliable