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Title: Validate specific transaction myself Post by: tenusertwo on December 29, 2016, 07:18:10 PM Hi,
I'm transferring bitcoin between 2 of my personal wallets. this is a small transaction and it's staying unconfirmed for hours now, I think it's because of the very low fee (0.1 mBTC) 1) I'm wondering if I can confirm the transaction myself, by doing the ~1 hour of compute on my computer ? another question, 2) is there a way to avoid to lose fee when we transfer money between 2 wallets that we own. ( newbie questions I suppose :) ) Thanks. Title: Re: Validate specific transaction myself Post by: devans on December 29, 2016, 07:28:54 PM 1) I'm wondering if I can confirm the transaction myself, by doing the ~1 hour of compute on my computer ? Bitcoin transactions are confirmed when miners include them in a block. There is no way to confirm a single transaction short of mining yourself, which is virtually impossible with a personal computer. Divide your transaction's fee in satoshis by its size in bytes, then compare it with the recommended fee rate (https://bitcoinfees.21.co/) to get an idea of when you can expect a confirmation. 2) is there a way to avoid to lose fee when we transfer money between 2 wallets that we own. Bitcoin doesn't distinguish between transfers to another wallet you own and transfers to other addresses, so the fee cannot be avoided. However, you could import the private key of the first wallet into the second, which doesn't really transfer the funds but gives both wallets access to them. Title: Re: Validate specific transaction myself Post by: shorena on December 29, 2016, 07:29:40 PM Hi, I'm transferring bitcoin between 2 of my personal wallets. this is a small transaction and it's staying unconfirmed for hours now, I think it's because of the very low fee (0.1 mBTC) 1) I'm wondering if I can confirm the transaction myself, by doing the ~1 hour of compute on my computer ? another question, No. There is no ~1 hour compute that gets you a confirmation. You need to find a new block and include your (and other) unconfirmed transaction in it. Currently the entire network calculates roughly 2,377,551,472 GigaHashes every second in order to find one of these blocks every 10 minutes on average. Your CPU will probably not be able to do even 1 Gigahash/s[1]. 2) is there a way to avoid to lose fee when we transfer money between 2 wallets that we own. ( newbie questions I suppose :) ) Thanks. Export the private key from one wallet into the other (if the software allows it). [1] https://en.bitcoin.it/wiki/Non-specialized_hardware_comparison#CPUs.2FAPUs Title: Re: Validate specific transaction myself Post by: tenusertwo on December 29, 2016, 07:51:31 PM Thanks for your answers, it's more clear now
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