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Title: Accidentally sent a transaction with only 0.00008851 fee Post by: Shiroslullaby on August 01, 2016, 01:15:30 AM Sent some coins from my Electrum wallet and for some reason Dynamic fee with 75% multiplier so 0.00038989 BTC/kb was the fee.
It sent 0.0008851 fee for the transaction and its been about an hour with no confirmation. I think this fee is way too low? What are my chances of this getting confirmed and what are my next steps if it doesn't show up by say, tomorrow morning? Secondly, what should I set the fee to in my Electrum wallet? It seems a little silly to let people send something with a fee that won't get your transaction confirmed... :'( Title: Re: Accidentally sent a transaction with only 0.00008851 fee Post by: DarkStar_ on August 01, 2016, 01:17:32 AM 0.00038989 BTC/kb was the fee. That fee is enough for a pretty quick confirmation. I got a tx confirmed a few hours ago with only 0.00025/kb for the fee. Mind posting the transaction? It should definitely confirm by tomorrow morning.Title: Re: Accidentally sent a transaction with only 0.00008851 fee Post by: philipma1957 on August 01, 2016, 01:48:37 AM Sent some coins from my Electrum wallet and for some reason Dynamic fee with 75% multiplier so 0.00038989 BTC/kb was the fee. It sent 0.0008851 fee for the transaction and its been about an hour with no confirmation. I think this fee is way too low? What are my chances of this getting confirmed and what are my next steps if it doesn't show up by say, tomorrow morning? Secondly, what should I set the fee to in my Electrum wallet? It seems a little silly to let people send something with a fee that won't get your transaction confirmed... :'( can't tell you and no one else can tell you since none of us know how big the tx id is. not how much btc but how many bytes the smallest a transaction can be in bytes is around 230 and a cheap fee works but your transaction may be 23000 bytes or 46000 bytes and you need a really big fee. so show the tx id and we can guess. Title: Re: Accidentally sent a transaction with only 0.00008851 fee Post by: Shiroslullaby on August 01, 2016, 04:16:00 AM OK it took a couple hours but it got confirmed.
I appreciate your guys help and have a couple quick questions- 1. what determines the size of a transaction? Wouldn't most transactions be the same amount of bytes? The only thing I can think that would change the size would be sending to multiple addresses. 2. what method do you use to determine fees? I've seen some websites that do some calculation but I was pretty confused after reading them lol. ::) Appreciate the help I get in forum, you guys are all so amazing! Title: Re: Accidentally sent a transaction with only 0.00008851 fee Post by: Foxpup on August 01, 2016, 04:26:56 AM Sent some coins from my Electrum wallet and for some reason Dynamic fee with 75% multiplier so 0.00038989 BTC/kb was the fee. It sent 0.0008851 (actually 0.00008851) fee for the transaction and its been about an hour with no confirmation. I think this fee is way too low? What are my chances of this getting confirmed and what are my next steps if it doesn't show up by say, tomorrow morning? Secondly, what should I set the fee to in my Electrum wallet? It seems a little silly to let people send something with a fee that won't get your transaction confirmed... :'( can't tell you and no one else can tell you since none of us know how big the tx id is. OK it took a couple hours but it got confirmed. Yes, a couple of hours is to be expected for that fee.1. what determines the size of a transaction? Wouldn't most transactions be the same amount of bytes? That and the number of inputs to your transaction, that is, the transactions in which you received the coins that you are now sending (if you received them in many transactions, eg, from faucets, your transactions will be larger and require larger fees). The only thing I can think that would change the size would be sending to multiple addresses. 2. what method do you use to determine fees? I've seen some websites that do some calculation but I was pretty confused after reading them lol. ::) It's simple. You just look at past transactions that confirmed quickly (within a given number of blocks) and see what fees they paid on average. Since there are a lot of transactions to look at, it's best to have your software do it automatically.Title: Re: Accidentally sent a transaction with only 0.00008851 fee Post by: philipma1957 on August 01, 2016, 11:19:03 PM Sent some coins from my Electrum wallet and for some reason Dynamic fee with 75% multiplier so 0.00038989 BTC/kb was the fee. It sent 0.0008851 (actually 0.00008851) fee for the transaction and its been about an hour with no confirmation. I think this fee is way too low? What are my chances of this getting confirmed and what are my next steps if it doesn't show up by say, tomorrow morning? Secondly, what should I set the fee to in my Electrum wallet? It seems a little silly to let people send something with a fee that won't get your transaction confirmed... :'( can't tell you and no one else can tell you since none of us know how big the tx id is. OK it took a couple hours but it got confirmed. Yes, a couple of hours is to be expected for that fee.1. what determines the size of a transaction? Wouldn't most transactions be the same amount of bytes? That and the number of inputs to your transaction, that is, the transactions in which you received the coins that you are now sending (if you received them in many transactions, eg, from faucets, your transactions will be larger and require larger fees). The only thing I can think that would change the size would be sending to multiple addresses. 2. what method do you use to determine fees? I've seen some websites that do some calculation but I was pretty confused after reading them lol. ::) It's simple. You just look at past transactions that confirmed quickly (within a given number of blocks) and see what fees they paid on average. Since there are a lot of transactions to look at, it's best to have your software do it automatically.or it was 2270 bytes which is why I wanted to see the tx id. the op obviously was unsure of his info and as you point out may have had a wrong decimal place. so all of his info becomes suspect in the sense that he is unfamiliar with the correct way to show us the numbers. which is why I would have liked to have seen his tx id. I can show multiple cases of which decimal place was wrong. Without a tx id and the fact that it looked like he had wrong info it is simpler to see the tx id. @ the op take a look at this tx id https://blockchain.info/tx/7e7177dd38297825a67358ed88a86cb369e3fd0fa6eb26062a31e631ef54617c it is 1 input and two out puts it is the smallest size possible 227 bytes and coins were 0.093 @ op take a look at this tx id many many inputs and the bytes are high over 9900 I paid a large fee to move it pretty fast https://blockchain.info/tx/9e93576ab06b1fabe58336b343176375a919844fccbe1a3ee5984d5547274156 Title: Re: Accidentally sent a transaction with only 0.00008851 fee Post by: Foxpup on August 02, 2016, 01:58:02 AM or it was 2270 bytes which is why I wanted to see the tx id. Or you could do the math and see that 2,270 bytes doesn't add up. That would have a fee of 0.00088505 (or the fee per kb would be 0.00038991).Title: Re: Accidentally sent a transaction with only 0.00008851 fee Post by: philipma1957 on August 02, 2016, 12:04:36 PM or it was 2270 bytes which is why I wanted to see the tx id. Or you could do the math and see that 2,270 bytes doesn't add up. That would have a fee of 0.00088505 (or the fee per kb would be 0.00038991).you have a point. I always like to see the tx id since many people get numbers wrong as the op did with 2 different versions of one number. I then suspect any info given and seeing the tx id helps. |