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Bitcoin => Bitcoin Discussion => Topic started by: NotNoobdpr on August 10, 2016, 01:05:46 PM



Title: Lowest transaction fee . How long can it take ?
Post by: NotNoobdpr on August 10, 2016, 01:05:46 PM
So I've been going through the beginners section of this forum but couldn't find a thread, dealing with the problem I got atm. I got a bitcoin core wallet and wanted to send a certain amount of bitcoins to a certain tor website . I've done that before and was annoyed by the transaction fee that I was charged throughout the transaction because I always had to resend btc onto the website to finally have the right amount of btc on the websites wallet . This time
I saw that there's the possibility to adjust the transaction fees manually and even tick in a box which says (send without transaction fees if possible) I did that without hesitating and now have to deal with the consequence of waiting forever until the transaction is finished. My question now is. What is the longest time a transaction of 0.36 btc can take . Or how long should I expect this transaction to take ?


Title: Re: Lowest transaction fee . How long can it take ?
Post by: DannyHamilton on August 10, 2016, 01:34:34 PM
What is the longest time a transaction of 0.36 btc can take.

There is no requirement that it ever be confirmed.

Or how long should I expect this transaction to take?

That's very difficult to predict.  It could get confirmed in the next block.  It could take hours, or days, or weeks, or months, or decades, or centuries.

At this point you are simply waiting for a generous miner (or mining pool) to decide to earn less money for themselves by confirming your transaction for you out of the charity in their heart rather than confirming a transaction that would pay them a fee.

There are a few options that you can choose from to address the situation.

I assume you are using Bitcoin Core (since you mentioned the fee adjuster and checkbox)?

  • Just wait and hope.
  • Re-broadcast the transaction regularly so the nodes on the network don't forget the transaction.
  • Remove the transaction from your wallet, wait for most of the network to forget your transaction and then send a new one.
  • Contact a miner or mining pool and ask them directly to include your transaction in one of their blocks.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: thejaytiesto on August 10, 2016, 01:42:29 PM
Wait for an entire day. If the transaction still has 0 confirmations, it means its not worth mining due your low fee. In this case since you are using bitcoin core, there is a solution: create a bitcoin core shortcut and add -zapwallettx

open bitcoin through that shortcut and the money will appear back in your wallet (wait for rescan it can take a while), then you can send it again and just use the recommended fee.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: QuestionAuthority on August 10, 2016, 01:57:32 PM
Why does everyone want to use Bitcoin for free? It's a financial tool for transferring money that has a built in cost for the bank (miners) that's sending the money. Why is it necessary to screw them out of their cost of doing business? Give them a nice healthy fee now and get used to the fee that you'll be paying when the built in mining reward drops to an inconsequential amount in about 8 years and the demand on the network skyrockets. At that point you'd be lucky to get a transaction confirmed for a .36 Btc fee.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: dothebeats on August 10, 2016, 02:06:28 PM
Lowest? Define lowest? Because a one satoshi tx fee could probably get cancelled and ignored by the miners whereas a 0-tx fee could be confirmed in a few weeks' time (I don't know why but I've sent some transactions without putting any fee to it, and it somehow gets confirmed within days or weeks). But to be safe, better put some fee on every transaction you create just for the miner to not ignore that certain tx and get it confirmed surely than never (or wait for a few weeks only to get it cancelled, lol.)


Title: Re: Lowest transaction fee . How long can it take ?
Post by: NotNoobdpr on August 10, 2016, 02:08:04 PM
Wait for an entire day. If the transaction still has 0 confirmations, it means its not worth mining due your low fee. In this case since you are using bitcoin core, there is a solution: create a bitcoin core shortcut and add -zapwallettx

open bitcoin through that shortcut and the money will appear back in your wallet (wait for rescan it can take a while), then you can send it again and just use the recommended fee.

So how does that whole zapwallet thing work out .
Or much rather can I delete the transaction without the money being lost ?


Title: Re: Lowest transaction fee . How long can it take ?
Post by: NotNoobdpr on August 10, 2016, 02:54:43 PM
Tbh . I seriously need some help of someone who could guide me through it step by step. I barely have a clue how to properly use the programs because for the purpose I've used it, my current knowledge was enough. But now that I that all my btc are stuck in a pending transaction it would be very helpful if someone could tell me what the easiest way for me is to get my btc back onto my Bitcoin core wallet, assuming that I have no clue what so ever how to start of .


Title: Re: Lowest transaction fee . How long can it take ?
Post by: bitdumper on August 10, 2016, 03:14:30 PM
without transaction fees you can just hope that it will get confirmed.but when i did that it takes about 3days to confirm a single transaction and if it stays 0 conformation after 3days then try to re broadcast it


Title: Re: Lowest transaction fee . How long can it take ?
Post by: frediiii on August 10, 2016, 03:31:35 PM
I always had to resend btc onto the website to finally have the right amount of btc on the websites wallet
so you basically want to send with 0 fee because then you would make sure the correct amount of BTC gets to the service you use?

that only happens if you check the "subtract fee from amount" checkbox. if you don't check that box and send 1.0 BTC, the recipient will receive 1.0 BTC. You will be charged 1.00010176 BTC (so amount + fee)

problem solved!


Title: Re: Lowest transaction fee . How long can it take ?
Post by: pogress on August 10, 2016, 03:33:23 PM
Tbh . I seriously need some help of someone who could guide me through it step by step. I barely have a clue how to properly use the programs because for the purpose I've used it, my current knowledge was enough. But now that I that all my btc are stuck in a pending transaction it would be very helpful if someone could tell me what the easiest way for me is to get my btc back onto my Bitcoin core wallet, assuming that I have no clue what so ever how to start of .

Bitcoin core rebroadcast your transaction continually till it gets a confirmation. Because of this behavior, the node's mempool will not drop your transaction. To increase fee, keep a backup of your wallet.dat and start Bitcoin core with -zapwallettxes. It removes your unconfirmed transactions, so u can create a new transaction. Dont use unconfirmed inputs to create new transaction, it might delay confirmation even if you use high fees.

Imporant: to be sure your original transaction wont get confirmed later (and you do not end paying twice), at least one of the same inputs must be used in both the old and new transaction.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: DannyHamilton on August 10, 2016, 04:05:01 PM
So many completely crap posts from sig ad participants that are willing to say anything just to get credit for another advertising post.  It's getting difficult to find the actual questions and helpful information among all the noise and nonsense.
 
Tbh . I seriously need some help of someone who could guide me through it step by step.

Ok, lets start by making sure that we know exactly what we are working with.  Different versions of software have different features.

Do you know for certain what version of Bitcoin Core you are running?

If so, please let us know.

If not, in Bitcoin Core there should be a "Help" drop-down menu option.  Choose that.
One of the options in the "Help" menu is "Debug Window".  Choose that.
In the debug window you will see a tab or button for "Console".  Choose that.

In the text entry area of the Debug Window enter the command:
Code:
getinfo

This should return a "version" (along with a bunch of other stuff.  Let us know what the version is.


To get a head start on the next step, assuming that you are on the most recent version of Bitcoin core...

Choose the "Transactions" tab in your Bitcoin Core, you should see your unconfirmed transaction listed there.
Double-click on the unconfirmed transaction, a box should pop up with information about the transaction.
Copy the long alphanumeric value after "Transaction ID".

Go back to the "Console" in the "Debug Window" under the "Help" menu.
In the text entry area of the Debug Window enter the command:
Code:
abandontransaction transactionID

Replacing transactionID with the actual Transaction ID that you copied earlier.  Make sure to remove the -000 from the end of the Transaction ID.  This suffix is not to be included when you run the abandontransaction command.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: franky1 on August 10, 2016, 04:36:29 PM
Why does everyone want to use Bitcoin for free? It's a financial tool for transferring money that has a built in cost for the bank (miners) that's sending the money. Why is it necessary to screw them out of their cost of doing business? Give them a nice healthy fee now and get used to the fee that you'll be paying when the built in mining reward drops to an inconsequential amount in about 8 years and the demand on the network skyrockets. At that point you'd be lucky to get a transaction confirmed for a .36 Btc fee.

facepalm

your answer seems to be the opposite of what i expected. im guessing the original owner of the account sold it to a noob.

here is my reply.

addressing the OP's question
the fee's are based on the demand(how many people want to send a tx straight away around the same time you do) and the supply(how much data space is available in a block to allow a transaction in)

think of it like a train..
if there are 5000 passengers(transactions) waiting for a train(block) but only enough standing room on the train for 2500 people. the ticket hustlers who have the 2500 tickets can charge a premium to those who want it.. leaving other people waiting for the next train.
the only problem is that the next train might also see a new set of 5000 people walking onto the platform. so those not wanting to buy a premium ticket wont get on the next one. after a day of waiting you exit the station on your feet(dropped out of mempool) and you can if you want to come back again this time with money to by a ticket(rebroadcast transaction with fee). however you need to manually keep an eye on the current estimated "bid" price people are paying and pay a little higher. afterall other people will be looking at the same estimate too (causing a fee war of increasing fee's when demand is high)

the solution is not to argue that people should pay up or shut up due to fears that the train company wont get paid healthily in a decade or too.. but to ask the train company to add more carraiges to add more capacity to allow more passengers cheaper, which when combined adds up to a healthy income.

trying to start a fee war now when the blockreward is the income and the fee is just a bonus is stupid.. it will be over a decade before that flips and the fee becomes more important. so there is no need to piss customers off now for something that can be controlled and offset naturally and slowly over the next few years/decades.

in short.
untill extra capacity is added to blocks your stuck with the fee war so check this website
https://bitcoinfees.21.co/
and remember to read the page. the numbers at the top are not fee per transaction but fee per byte of a transaction
at time of posting:

The fastest and cheapest transaction fee is currently 80 satoshis/byte, shown in green at the top.
For the median transaction size of 258 bytes*, this results in a fee of 20,640 satoshis (0.11$).
*small 1-2 input, 1-2outputs

as to the guy named "question authority"
i think he forgets that bitcoin was invented to help the unbanked and those that do not want to be paying high fee's just to move their money around..
seems "question authority" has now become "silence and accept, and pay for authority"

i have nothing against paying for what you use. but when there is a way to code something to offset costs to allow cheaper use, and also spread the cost to help everyone out, especially decades before that "cost" is an actual need. yet the current situation is not to go forward with that and instead shut up and put up with fee's or F-off if you dont want to pay.. then i find people have really lost the plot


Title: Re: Lowest transaction fee . How long can it take ?
Post by: MingLee on August 10, 2016, 04:43:45 PM
So I've been going through the beginners section of this forum but couldn't find a thread, dealing with the problem I got atm. I got a bitcoin core wallet and wanted to send a certain amount of bitcoins to a certain tor website . I've done that before and was annoyed by the transaction fee that I was charged throughout the transaction because I always had to resend btc onto the website to finally have the right amount of btc on the websites wallet . This time
I saw that there's the possibility to adjust the transaction fees manually and even tick in a box which says (send without transaction fees if possible) I did that without hesitating and now have to deal with the consequence of waiting forever until the transaction is finished. My question now is. What is the longest time a transaction of 0.36 btc can take . Or how long should I expect this transaction to take ?
It depends on the fee, as you should expect, but if you put in a fee of 0 then it might never get confirmed because there is no incentive for it to be in the block. I would expect for it to take a few dozen hours, depending, but you might get lucky and only have it take 2-3 hours.

I would always recommend using the suggested fee, which I believe is something like 1203 satoshi or whatever. It's incredibly cheap.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: Kprawn on August 10, 2016, 07:41:32 PM
What is the longest time a transaction of 0.36 btc can take.

There is no requirement that it ever be confirmed.

Or how long should I expect this transaction to take?

That's very difficult to predict.  It could get confirmed in the next block.  It could take hours, or days, or weeks, or months, or decades, or centuries.

At this point you are simply waiting for a generous miner (or mining pool) to decide to earn less money for themselves by confirming your transaction for you out of the charity in their heart rather than confirming a transaction that would pay them a fee.

There are a few options that you can choose from to address the situation.

I assume you are using Bitcoin Core (since you mentioned the fee adjuster and checkbox)?

  • Just wait and hope.
  • Re-broadcast the transaction regularly so the nodes on the network don't forget the transaction.
  • Remove the transaction from your wallet, wait for most of the network to forget your transaction and then send a new one.
  • Contact a miner or mining pool and ask them directly to include your transaction in one of their blocks.

Why would a miner or mining pool waste resources on a 0.36 BTC transaction with zero fees? Would it not be better to contact them and offer them the correct fee or even a higher than average fee to

get the tx included in one of their blocks? I do not have a speed dial number for any of these miners, but I guess it is possible if you are desperate enough to get the tx confirmed. The lesson to be

learned from this is not to be a cheapskate.  ;)


Title: Re: Lowest transaction fee . How long can it take ?
Post by: DannyHamilton on August 10, 2016, 07:58:30 PM
Why would a miner or mining pool waste resources on a 0.36 BTC transaction with zero fees?

Because you ask nicely?  Or because you negotiate something (such as a direct payment of bitcoins) in exchange for the confirmation?

Would it not be better to contact them and offer them the correct fee or even a higher than average fee to get the tx included in one of their blocks?

Sure, that would be a nice way to ask.

I do not have a speed dial number for any of these miners

You can just send them a PM.  Several of them are active members of this forum.

In particular there are two members, macbook-air (https://bitcointalk.org/index.php?action=profile;u=16114) and Quickseller (https://bitcointalk.org/index.php?action=profile;u=358020), that both have access to add transactions directly to blocks solved by one of the currently largest pools (F2Pool).

You could try sending one of them a message (https://bitcointalk.org/index.php?action=pm;sa=send;u=16114).


Title: Re: Lowest transaction fee . How long can it take ?
Post by: DOGE12321 on August 10, 2016, 10:57:23 PM
Since you put no transaction fee, your transaction doesn't necessarily have to be confirmed.
It is near to impossible to predict when your transaction would be confirmed. :( In the best case scenario, I think it may take a week. I don't have much experience with such problems as I always pay the transaction fee.

 :)


Title: Re: Lowest transaction fee . How long can it take ?
Post by: QuestionAuthority on August 10, 2016, 10:57:26 PM
Why does everyone want to use Bitcoin for free? It's a financial tool for transferring money that has a built in cost for the bank (miners) that's sending the money. Why is it necessary to screw them out of their cost of doing business? Give them a nice healthy fee now and get used to the fee that you'll be paying when the built in mining reward drops to an inconsequential amount in about 8 years and the demand on the network skyrockets. At that point you'd be lucky to get a transaction confirmed for a .36 Btc fee.

 Bunch of stupid meaningless bullshit


When I first came here all the dumbasses were so happy that they could send a half a penny around the world for free. Then they were happy that they could send non dust transactions for free. Then they were happy they could send non dust transactions for a small fee. Then they were happy they could get a transaction to actually confirm and be accepted by the network for a small fee.

See a pattern here dumbass? Transaction fees are just going to go up as the system matures. Believe it or not the mighty Jesus/Satoshi knew about this and wrote about it. Try reading section 6 of the white-paper and his older posts on this forum.

As always, you're clueless. You do know why people buy accounts don't you dumbass (can I call you by your first name, I don't want to seem forward)?  They buy them to make money in the marketplace, to sell something or use for a signature campaign. I have NEVER posted in the marketplace section, sold anything to anyone here or ran a sig campaign.

In fact, if you want to look at my signature it's a link to gambling anonymous because so many bitcoiners are getting fucked by gambling and a link to a thread talking about removing signatures because they are spam creators.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: Holliday on August 10, 2016, 11:47:19 PM
Why does everyone want to use Bitcoin for free? It's a financial tool for transferring money that has a built in cost for the bank (miners) that's sending the money. Why is it necessary to screw them out of their cost of doing business? Give them a nice healthy fee now and get used to the fee that you'll be paying when the built in mining reward drops to an inconsequential amount in about 8 years and the demand on the network skyrockets. At that point you'd be lucky to get a transaction confirmed for a .36 Btc fee.

 Bunch of stupid meaningless bullshit


When I first came here all the dumbasses were so happy that they could send a half a penny around the world for free. Then they were happy that they could send non dust transactions for free. Then they were happy they could send non dust transactions for a small fee. Then they were happy they could get a transaction to actually confirm and be accepted by the network for a small fee.

See a pattern here dumbass? Transaction fees are just going to go up as the system matures. Believe it or not the mighty Jesus/Satoshi knew about this and wrote about it. Try reading section 6 of the white-paper and his older posts on this forum.

As always, you're clueless. You do know why people buy accounts don't you dumbass (can I call you by your first name, I don't want to seem forward)?  They buy them to make money in the marketplace, to sell something or use for a signature campaign. I have NEVER posted in the marketplace section, sold anything to anyone here or ran a sig campaign.

In fact, if you want to look at my signature it's a link to gambling anonymous because so many bitcoiners are getting fucked by gambling and a link to a thread talking about removing signatures because they are spam creators.

Dude, you might as well go explain the internal combustion engine to a two year old. At least you would have a chance at success instead of just wasting your time! ;)

Pretty much everything, to franky1, is about the block size, and he goes to great lengths trying to convince everyone that we desperately need to increase it last year or Armageddon. 'Cuz you know, the best use case for censorship-proof money is sending ha'pennies around the world for free!


Title: Re: Lowest transaction fee . How long can it take ?
Post by: topiOleg on August 10, 2016, 11:55:17 PM
My question now is. What is the longest time a transaction of 0.36 btc can take . Or how long should I expect this transaction to take ?

Your free transaction could confirm in about a week, at least this was my experience two months ago. And the longest time? The sky's the limit (there is no upper limit).


Title: Re: Lowest transaction fee . How long can it take ?
Post by: Johnny00 on August 10, 2016, 11:56:44 PM
It could never get confirmed. You need to cancel the transaction


Title: Re: Lowest transaction fee . How long can it take ?
Post by: asriloni on August 11, 2016, 01:36:04 AM
It could never get confirmed. You need to cancel the transaction
"CANCEL'? Are you kidding me? how you can cancel your bitcoin transaction. I never heard if the bitcoin transaction is can be canceling by the sender. maybe you're just making a troll in here.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: QuestionAuthority on August 11, 2016, 01:54:27 AM

Dude, you might as well go explain the internal combustion engine to a two year old. At least you would have a chance at success instead of just wasting your time! ;)

Pretty much everything, to franky1, is about the block size, and he goes to great lengths trying to convince everyone that we desperately need to increase it last year or Armageddon. 'Cuz you know, the best use case for censorship-proof money is sending ha'pennies around the world for free!

Yeah, I should just ignore him but he is so annoyingly stupid. You'd think he would know a little about Bitcoin from just hanging around. I guess reading the white paper is too much to ask.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: madwica on August 11, 2016, 03:43:58 AM
It could never get confirmed. You need to cancel the transaction
"CANCEL'? Are you kidding me? how you can cancel your bitcoin transaction. I never heard if the bitcoin transaction is can be canceling by the sender. maybe you're just making a troll in here.
Correct there is no cancel button in all bitcoin wallet transaction, that is already concern by more users that they will put cancel button on every transaction if that will happen we can also control our transaction.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: Johnny00 on August 11, 2016, 04:45:55 AM
It could never get confirmed. You need to cancel the transaction
"CANCEL'? Are you kidding me? how you can cancel your bitcoin transaction. I never heard if the bitcoin transaction is can be canceling by the sender. maybe you're just making a troll in here.

Cancelling unconfirmed transactions is easy. Just submit a higher fee double-spend transaction. For example: if you send a 0-fee transaction it could take a day before 1 block mines it. Then you send another transaction with the same inputs that just sends the money back to yourself. On this transaction you put a higher fee. This becomes more likely to be mined and will get included in the blockchain - invalidating the slower-to-confirm original.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: NeuroticFish on August 11, 2016, 04:51:23 AM
Cancelling unconfirmed transactions is easy. Just submit a higher fee double-spend transaction. For example: if you send a 0-fee transaction it could take a day before 1 block mines it. Then you send another transaction with the same inputs that just sends the money back to yourself. On this transaction you put a higher fee. This becomes more likely to be mined and will get included in the blockchain - invalidating the slower-to-confirm original.

And is there any wallet that can do that or you have to script it by hand?


Title: Re: Lowest transaction fee . How long can it take ?
Post by: NotNoobdpr on August 11, 2016, 05:27:51 AM
So many completely crap posts from sig ad participants that are willing to say anything just to get credit for another advertising post.  It's getting difficult to find the actual questions and helpful information among all the noise and nonsense.
 
Tbh . I seriously need some help of someone who could guide me through it step by step.

Ok, lets start by making sure that we know exactly what we are working with.  Different versions of software have different features.

Do you know for certain what version of Bitcoin Core you are running?

If so, please let us know.

If not, in Bitcoin Core there should be a "Help" drop-down menu option.  Choose that.
One of the options in the "Help" menu is "Debug Window".  Choose that.
In the debug window you will see a tab or button for "Console".  Choose that.

In the text entry area of the Debug Window enter the command:
Code:
getinfo

This should return a "version" (along with a bunch of other stuff.  Let us know what the version is.

Thank you SIR! Seriously . This was quiete helpful. My btc core wallet is currently running on the v0.12.1 version . So abandoning the transaction would be like deleting it and reuploading it with an added fee ? I did that now . Waiting for further instructions .(:


Title: Re: Lowest transaction fee . How long can it take ?
Post by: NotNoobdpr on August 11, 2016, 07:38:05 AM
Ok guys got everything sorted thanks to one person . You can close the thread now . I thank you so much (;


Title: Re: Lowest transaction fee . How long can it take ?
Post by: johnnyyash on August 11, 2016, 07:51:05 AM
but i think if you use the suggested fee..it could get confirmed!!!


Title: Re: Lowest transaction fee . How long can it take ?
Post by: DannyHamilton on August 11, 2016, 12:12:26 PM
Ok guys got everything sorted thanks to one person . You can close the thread now . I thank you so much (;

You are able to lock your own threads.

At the very bottom of the thread on the left hand side you should see a link that says "lock topic"


Title: Re: Lowest transaction fee . How long can it take ?
Post by: asriloni on August 11, 2016, 04:34:51 PM
It could never get confirmed. You need to cancel the transaction
"CANCEL'? Are you kidding me? how you can cancel your bitcoin transaction. I never heard if the bitcoin transaction is can be canceling by the sender. maybe you're just making a troll in here.

Cancelling unconfirmed transactions is easy. Just submit a higher fee double-spend transaction. For example: if you send a 0-fee transaction it could take a day before 1 block mines it. Then you send another transaction with the same inputs that just sends the money back to yourself. On this transaction you put a higher fee. This becomes more likely to be mined and will get included in the blockchain - invalidating the slower-to-confirm original.
it is really complicated the address will have mark " Double Spend". but if a simple method is exist,it will be a good way to cancel transaction
but i saw some wallet that do not allow me to send the unconfirmed bitcoin. what to do if i get into that situation?


Title: Re: Lowest transaction fee . How long can it take ?
Post by: marketgold on August 12, 2016, 02:04:03 AM
So I've been going through the beginners section of this forum but couldn't find a thread, dealing with the problem I got atm. I got a bitcoin core wallet and wanted to send a certain amount of bitcoins to a certain tor website . I've done that before and was annoyed by the transaction fee that I was charged throughout the transaction because I always had to resend btc onto the website to finally have the right amount of btc on the websites wallet . This time
I saw that there's the possibility to adjust the transaction fees manually and even tick in a box which says (send without transaction fees if possible) I did that without hesitating and now have to deal with the consequence of waiting forever until the transaction is finished. My question now is. What is the longest time a transaction of 0.36 btc can take . Or how long should I expect this transaction to take ?
It will take about 24 hour , depend of what wallet you use.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: uname on August 12, 2016, 02:20:48 AM
It could never get confirmed. You need to cancel the transaction
"CANCEL'? Are you kidding me? how you can cancel your bitcoin transaction. I never heard if the bitcoin transaction is can be canceling by the sender. maybe you're just making a troll in here.
I think bitcoin transactions can not be canceled. if it could be possible that there are con artists exist in bitcoin? because they can only cancel a transaction with ease?


Title: Re: Lowest transaction fee . How long can it take ?
Post by: franky1 on August 12, 2016, 03:51:01 AM
Why does everyone want to use Bitcoin for free? It's a financial tool for transferring money that has a built in cost for the bank (miners) that's sending the money. Why is it necessary to screw them out of their cost of doing business? Give them a nice healthy fee now and get used to the fee that you'll be paying when the built in mining reward drops to an inconsequential amount in about 8 years and the demand on the network skyrockets. At that point you'd be lucky to get a transaction confirmed for a .36 Btc fee.

 Bunch of stupid meaningless bullshit


When I first came here all the dumbasses were so happy that they could send a half a penny around the world for free. Then they were happy that they could send non dust transactions for free. Then they were happy they could send non dust transactions for a small fee. Then they were happy they could get a transaction to actually confirm and be accepted by the network for a small fee.

See a pattern here dumbass? Transaction fees are just going to go up as the system matures. Believe it or not the mighty Jesus/Satoshi knew about this and wrote about it. Try reading section 6 of the white-paper and his older posts on this forum.

and your not willing to "question authority" about how should we be restricting/expanding bitcoins usage and kicking people out of bitcoin.
EG average tx fee is atleast half an hours minimum wage in india
EG average tx fee is well over an hours minimum wage in bangledesh
EG average tx fee is well over two hours minimum wage in cuba
EG average tx fee is 20 minutes minimum wage in a dozen other third world countries

to me anyone who i see that doesnt want capacity growth and instead thinks that someones hourly wage is "spam" is just ultimately screaming
"we are racists we dont want china involved, we dont want india to use. we want bitcoin to be an american corporate payment network where only the first world countries can afford to use"

put it this way now that america is trying to push for $15 minimum wage. imagine a network that wanted to take $7.50-$30 per transaction.. would you use it?
no you wouldnt. and thats exactly how third world countries are thinking about bitcoin right now. half to twice their minimum hourly wage..

i have gone to india and other countries. and they are combined over a billion people (one 6th of the planet) yet they have seen, used and learned about bitcoin and thought its worthless

i have gone to first world countries and went to retailers, farmers, the homeless. yes ven homeless people in america and europe wont accept bitcoin. i have tried setting them up and taught them how to go to a cyber cafe and move their daily donations. and showed them how and where locally to them that they can convert them bitcoins into something spendable at fast food restaurants.. after a few days they have seen all their little donations cant be used the same day to even buy a coffee or a sandwich to keep warm..

if you think bitcoin shouldshut out third world countries, should treat small amounts as spam and instead think of bitcoin as Mastercard2.0.. then i feel sorry for you.

i understand more then you realise, and although i might be blunt about how i talk about certain things. i think about the small picture, big picture how it affects the little man and the big man. is it needed to affect anyone now when will it need to affect people. how could, should it affect people now and in the future. ultimately is there a better way

and my conclusion is that restricting usage to push out who can use it now via fees, for no reason that fee's is actually needed now is ultimately a slap in the face to what was suppose to be a open payment network for everyone
if you think the only reply to a question about fee's is "just shut up and pay more"

then it seems you have stopped "questioning authority" and settled for corporate america mantra.

in my eyes i would prefer to see more people using bitcoin so the cost of use is spread so thin that anyone can use it. rather than restricting bitcoins usage so only "those that can afford it" would use it.


if you disagree. that's your prerogative.. and i guess i should "welcome you to mastercard 2.0 shut up, pay up and don't question the fee"


Title: Re: Lowest transaction fee . How long can it take ?
Post by: TastyChillySauce00 on August 12, 2016, 04:39:21 AM
It could never get confirmed. You need to cancel the transaction
"CANCEL'? Are you kidding me? how you can cancel your bitcoin transaction. I never heard if the bitcoin transaction is can be canceling by the sender. maybe you're just making a troll in here.
I think bitcoin transactions can not be canceled. if it could be possible that there are con artists exist in bitcoin? because they can only cancel a transaction with ease?
if you know about double spend or atleast why so many merchant out there need atleast 1 confirmation or even more,you'll know why
when people tricking a transaction with double spend,the transaction will be rejected and the funds will come back to the sender


Title: Re: Lowest transaction fee . How long can it tak
Post by: QuestionAuthority on August 12, 2016, 05:08:41 AM
Why does everyone want to use Bitcoin for free? It's a financial tool for transferring money that has a built in cost for the bank (miners) that's sending the money. Why is it necessary to screw them out of their cost of doing business? Give them a nice healthy fee now and get used to the fee that you'll be paying when the built in mining reward drops to an inconsequential amount in about 8 years and the demand on the network skyrockets. At that point you'd be lucky to get a transaction confirmed for a .36 Btc fee.

 Bunch of stupid meaningless bullshit


When I first came here all the dumbasses were so happy that they could send a half a penny around the world for free. Then they were happy that they could send non dust transactions for free. Then they were happy they could send non dust transactions for a small fee. Then they were happy they could get a transaction to actually confirm and be accepted by the network for a small fee.

See a pattern here dumbass? Transaction fees are just going to go up as the system matures. Believe it or not the mighty Jesus/Satoshi knew about this and wrote about it. Try reading section 6 of the white-paper and his older posts on this forum.

Again, a bunch of meaningless crap.


You want Bitcoin to be something it's not. This guy, I don't think you've heard of him, Satoshi Nakamoto invented Bitcoin. He wrote the "rules" for this "Bitcoin" thing.

His idea was that a built in "reward" would give people the incentive to "mine" bitcoins. Miners are these silly little guys that have big machines that do math problems really, really fast. It costs them lots and lots of moneys to run these big machines. The reward was a payment for running these machines but that Satoshi guy expected something called "fees" to take over paying for the big machines as the reward dropped. He also decided that this "reward" would slowly go away as more people used the "Bitcoin". It started at 50 bitcoins and cuts in half every 4 years.

The really cool stuff about this "Bitcoin" thing is its ability to secure transactions (I know those are big words but they just mean make it really, really safe) without the need for trust. That's what the "miners" do, they provide the security. Understanding the really, really safe part requires an understanding of little things called public key cryptography, digital signatures and cryptographic hashing. I realize these things are obviously so far above your head they make whale shit on the bottom of the ocean look like stardust but try to stay with me on this next point: You are not the inventor of Bitcoin. What you want Bitcoin to do is against the original design. If you don't like the way Bitcoin works, go make your own coin like all the little fuckbags in the alt section.

BTW: I don't "Question Authority" of the society I live in, I'm quite wealthy because of it and appreciate the advantages of paved roads with street lights. I hate the direction my government is moving in but voters can change that with enough prompting and information.

I question the authority of the people on this forum, not society, and that's why my name is QA. I've seen the beloved of this forum become filthy scumbags over and over again. I could recite them all starting with DnT and Pirate all the way down to devs like Mike Hearn but that would do no good because you have the comprehension ability of a gnat.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: franky1 on August 12, 2016, 05:45:10 AM
lol i comprehend more then you think
by the way. your assumption that we should restrict usage and go into a fee war now, actually goes against what your quoting from satoshi

Quote
The reward was a payment for running these machines but that Satoshi guy expected something called "fees" to take over paying for the big machines as the reward dropped.  He also decided that this "reward" would slowly go away as more people used the "Bitcoin". It started at 50 bitcoins and cuts in half every 4 years.

satoshi also said bitcoins popularity and usage would go.. which if allowed by the devs would slow down the need for a fee war because more people are paying
EG you prefer 1 person paying $1, others prefer 100 people paying 1cent. miners dont care either way as its $1 either way
also the main income:bonus switch
where income was reward and bonus was fee,
becomes main income will be fee and bonus becomes reward,
is something that will happen (statistically and logically) in atleast 2032 (16 years)

the more users allowed to transact, the less its needed to happen in 2032
the less users allowed to transact(fee war) the more its needed to happen BEFORE 2032

so i really wonder why you want to push it hard to happen sooner, which causes less users able to use it and more costly to those that do use it.. there is another way that satisfies everyone, but you wont hear it..

but your mindset is FAST fee increase and restrict usage now, now now.
its like forcing a child thats 7years old to go get a job now because in 16 years he needs to afford to look after a wife and kids..
your not considering how to teach the kid whats best, nor allow him to grow and become sociable to have many people help him in the future.
its just a "get a job or get out my house at 7 years old" mindset i feel you wish to blindly stick with..

i know you are in the "bitcoin is the new reserve currency" camp rather than "Bitcoin: A Peer-to-Peer Electronic Cash System" camp
you have not seen the big picture, you have not seen the pro's and cons and you have not ran scenarios or even spoke to people around the world.
it seems your mindset is stuck in what bitcoin can do for you when you retire and cash out back to fiat.

i too am hoarding alot, but atleast i can look beyond myself and think about what bitcoin can and should be for everyone, instead of a niche market of capitalists.

i wish you luck with your mindset and hope you cash out and be fiat rich, and your dreams come true back in the fiat world


Title: Re: Lowest transaction fee . How long can it tak
Post by: DannyHamilton on August 12, 2016, 12:41:37 PM
- blocksize arguments, insults, and philosophical rants -

- blocksize arguments, insults, and philosophical rants -

- blocksize arguments, insults, and philosophical rants -

Come on guys.

The OP is a newbie that just wants to know how to get his current transaction confirmed quickly. That's been dealt with by those that actually care about helping others and he has announced that the thread is closed.

There's no need to derail or continue this thread with your off-topic preaching.

Please take your little tiff elsewhere.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: Labumi on August 12, 2016, 12:44:15 PM
It could never get confirmed. You need to cancel the transaction

The best and fastest solution. But you must also know that any transaction that we do in the bitcoin can never be cancelled and you need not be concerned to delay confirmation, if for 4 days/more transactions you do not then automatically authenticated your transaction is cancelled and your money will be refunded


Title: Re: Lowest transaction fee . How long can it take ?
Post by: PeRo on August 12, 2016, 12:46:22 PM
Why would you even try sending such amount of Bitcoins with a lowest fee? You will probably end up never getting confirmations and you can not get the Bitcoins back. There is no using for free, and the fee is really dust even on high fees. If you have the amount you said you were sending, you probably have enough money to pay a dust fee.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: marketgold on August 12, 2016, 12:52:12 PM
On localbitcoins there are no fees for transactions and it is processed faster


Title: Re: Lowest transaction fee . How long can it tak
Post by: QuestionAuthority on August 12, 2016, 01:02:26 PM
- blocksize arguments, insults, and philosophical rants -

- blocksize arguments, insults, and philosophical rants -

- blocksize arguments, insults, and philosophical rants -

Come on guys.

The OP is a newbie that just wants to know how to get his current transaction confirmed quickly. That's been dealt with by those that actually care about helping others and he has announced that the thread is closed.

There's no need to derail or continue this thread with your off-topic preaching.

Please take your little tiff elsewhere.

You're right. Sorry Danny. I'm out.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: croutonhexagon on August 12, 2016, 02:15:26 PM
Bro It is Not Easy to Predict the time it takes to Confirm the Transaction Because Transaction Confirmation Depends on Many Factors like If You Provide High Fees Your Transaction  then Your Transaction will Confirm Fast.......


Title: Re: Lowest transaction fee . How long can it take ?
Post by: HeroCat on August 12, 2016, 02:32:00 PM
Longest transaction time you can expect up to 36 hours. But in practise up to 24 hours. This now is reality in BTC transactions. Of course if your BTC transfer fee is higher than average 0.0001 BTC, you can expect a little bit faster transfer times.  ;)


Title: Re: Lowest transaction fee . How long can it take ?
Post by: btcdevil on August 12, 2016, 02:37:28 PM
It is upto that if you do transaction without paying fees or very less then after 24 hrs or above you will get refund of your transaction bitcoins as they wont get confirmation. some Minimum transaction bitcoins should be added so that they can confirm it, how much low you pay fees that much high time it will take to get confirmation.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: beerlover on August 12, 2016, 04:04:15 PM
On localbitcoins there are no fees for transactions and it is processed faster
Well you can not really just simply use localbitcoins because you have to talk to your seller first before you actually agree on your transaction. And besides, there are multiple ways that you can transact.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: jostorres on August 15, 2016, 11:00:03 AM
Bro It is Not Easy to Predict the time it takes to Confirm the Transaction Because Transaction Confirmation Depends on Many Factors like If You Provide High Fees Your Transaction  then Your Transaction will Confirm Fast.......
True, but you can give a pretty accurate estimation.
For example, with zero fees, you will likely never get a transaction confirmed, but with maximum enough fees, you will get a transaction confirmed within 1 block. There are lot of resources available for the estimation of current situation of optimal fees required to get into next available block.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: yayayo on August 15, 2016, 01:01:36 PM
Longest transaction time you can expect up to 36 hours. But in practise up to 24 hours. This now is reality in BTC transactions. Of course if your BTC transfer fee is higher than average 0.0001 BTC, you can expect a little bit faster transfer times.  ;)

Where did you pull that information from? I always had fast confirmation (< 1 hour) by paying standard fees. The reality is that the Bitcoin network is working just fine for all those who pay the small standard fee. Even for the stingy ones there is still a decent chance to achieve confirmation within a few hours. Please stop spreading misinformation.

I don't have much sympathy for people who demand fast confirmation for no fee transactions. Transaction fees are a necessity to avoid spam transactions that would render the network unusable. In future, transaction fees will become even more important, because they gradually replace block rewards as a source of income for miners.

ya.ya.yo!


Title: Re: Lowest transaction fee . How long can it take ?
Post by: Supercrypt on August 16, 2016, 05:40:28 AM
Longest transaction time you can expect up to 36 hours. But in practise up to 24 hours. This now is reality in BTC transactions. Of course if your BTC transfer fee is higher than average 0.0001 BTC, you can expect a little bit faster transfer times.  ;)

Where did you pull that information from? I always had fast confirmation (< 1 hour) by paying standard fees. The reality is that the Bitcoin network is working just fine for all those who pay the small standard fee. Even for the stingy ones there is still a decent chance to achieve confirmation within a few hours. Please stop spreading misinformation.

I don't have much sympathy for people who demand fast confirmation for no fee transactions. Transaction fees are a necessity to avoid spam transactions that would render the network unusable. In future, transaction fees will become even more important, because they gradually replace block rewards as a source of income for miners.

ya.ya.yo!
The reality is that higher transaction fees can give you chances of faster transaction confirmations since you would possibly be moved up from the priority order. Simply looking at the tx confirmation formula, you will obviously see that transaction fee is a factor from it, although it's just one among the many others.

We get the fact that the network is working just fine for those who pay the standard fee. But there are also those who pay the standard fee and still experience low priority tx confirmation. Don't always only talk about your situation since the network doesn't revolve around you. Consider other people's situations as well.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: adriaymati58 on August 16, 2016, 01:21:04 PM
It can take forever, I highly suggest you don't send the transactions with anything more than 0.0001 BTC, I had to wait on a transaction for more than 48 hours to confirm (And technically sometimes it can even get cancelled). You even need more than 0.0001 if you spend some irregular inputs (multiple addresses etc...)


Title: Re: Lowest transaction fee . How long can it take ?
Post by: ranochigo on August 16, 2016, 01:37:21 PM
It can take forever, I highly suggest you don't send the transactions with anything more than 0.0001 BTC, I had to wait on a transaction for more than 48 hours to confirm (And technically sometimes it can even get cancelled). You even need more than 0.0001 if you spend some irregular inputs (multiple addresses etc...)
Stop spamming, you're wrong. The priority queue depends mostly on your fees/b. If you spend from two address in a transaction with an output, you can most likely get it confirmed within 24 hours or less. There's no such thing as transactions getting cancelled, you're referring transactions getting dropped out of mempool. This can be avoided with rebroadcasting and it will eventually confirm.


Usually, the time before getting a confirmation depends on your fees/b or kb and the network load. It is possible to pay 0BTC as fee but it would take a long time as the only thing it qualify is the free transaction which, given the network load is rather hard for it to be included into a block. Since miners have the last say, they can easily exclude your transaction for various reasons. When satoshidice was popular, some miners applied a patch to specifically exclude transactions associated with Satoshidice's address.


Title: Re: Lowest transaction fee . How long can it take ?
Post by: trickshot22 on August 16, 2016, 02:22:39 PM
Longest transaction time you can expect up to 36 hours. But in practise up to 24 hours. This now is reality in BTC transactions. Of course if your BTC transfer fee is higher than average 0.0001 BTC, you can expect a little bit faster transfer times.  ;)
if you dont include a fee at all the transaction might be not confirmed ever and be returned so i guess it is impossible to count the longest time


Title: Re: Lowest transaction fee . How long can it take ?
Post by: crairezx20 on August 16, 2016, 03:24:28 PM
In my experience it takes 4 hours to 8 hours but sometimes even its low fee it takes 1 hour..
We dont know how long it can take if you are paying a fee for low price..