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I send a transction, then, every 1-2 hours, I keep increasing the gas fee. I've done it a few times. I've noticied that after several hours that my gas fees isn't still high enough. However, at some point the estimate time has descreased while the current gas fees have increased. Does this mean that the longer a transcaction remains in a pool, the closer it gets to the point of being processed? Or is it simmply the gas fees that matter?

In there's indeed a queue, because increasing gas fees creates a new Tx, does this mean that simply creasing them will put my Tx at the end of the queue in a pool and therefore may not help much? And if I had stuck with my 1st Tx with the lowest gas fees, it'd have been proceesed with that low gas fees, faster that the new "speed up" Tx?

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There is no real queue. Mostly it's just about the gas price.

I say "mostly" because in theory the miners can include whatever transactions they wish in their blocks. But in reality they mostly include them in the order of gas price - that way they maximize their income (they get to keep the gas fees).

So it shouldn't make much difference whether you keep "refreshing" your transactions. The only thing that might change is that it may take a while to get propagated to most of the network, but this time shouldn't be anything more than maybe a minute or so anyway.

So any fluctuations you see are based on fluctuations in gas prices.

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  • can I become a miner such that I'd mine only or mostly my own transactions whenever I need it? – michika Feb 9 at 17:39
  • Yes. But you have to be able to solve the PoW puzzle in order to mine blocks, so you need a lot of hashing power. – Lauri Peltonen Feb 9 at 17:49
  • Why a lot of power? I could theoretically do it with any computer power, it'll be merely be a matter of how it'll take to mine a block for my transcactions. No? – michika Feb 9 at 17:59
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    Yes, you will be able to mine a block eventually with any computing power, but the block will be useless since the rest of the chain has moved on and you can't insert the block in the canonical chain anymore. – Lauri Peltonen Feb 9 at 18:09

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