Bitcoin Forum

Is this a correct assumption?

If there is a long backlog of transactions to verify and some have a low enough gas price that the miners choose higher gas priced transactions, is it
 possible for the low gas transactions to never be picked up due to the long backlog? Any "new" transactions with higher gas prices will be picked up again and again leaving the lower ones to be in the "air"

Im also assuming that under normal transaction levels the lower gased transactions get done because the miners can keep up with the volume. So my assumption only holds for unusually high volume.

If this is the case in high volume times, what eventually happens to the unverified transactions? Are there time limits on these delayed transactions, and if so do the coins get returned to the original source? Can these coins theoretically be tied up indefinitely?

Im new to all of this and just trying to understand why a transaction of mine is currently at 50 hours. Im not asking for help with the specific transaction, just trying to learn.

thanks

Transactions that are stucked because of low fees will eventually return to you. Though there is no definite time, but it will so transactions to never be picked up is not possible.

I don't know if it's the same with bitcoin that old transactions gets increasing priority as time passes so that eventually transactions with low fees would get picked up.

Or you could just resend your transactions with higher fees.

I would resend with higher gas price, but I sent it from an exchange to wallet and the exchange shows that the transaction is complete and my account shows the ETH has been removed.

As far as I know your assumption that low gased transactions will never be picked up as long as there are constantly incoming higher gased transactions is true. Miners will always pick the ones with higher gas first, because that is how they make their money. However if a low gased transaction is not able to be confirmed for a long time it will eventually be returned, so funds being send with too low gas wont be tied up indefinitely. I dont know how long it takes until they are returned though.

If there is a long backlog of transactions to verify and some have a low enough gas price that the miners choose higher gas priced transactions, is it
 possible for the low gas transactions to never be picked up due to the long backlog? Any "new" transactions with higher gas prices will be picked up again and again leaving the lower ones to be in the "air"

Yeah the transactions with a lower fee will return back to you. Miners pick the transactions with higher fee ofcourse.

Yes I would expect the miners to take the higher gas

Do the exchanges have a default gas price when sending ETH to wallets?
I did not have an option to set the gas when I sent.

Again thanks for the help. Rapid learning going on here!!

Now ETH is having problem with their transaction,, i dont know what caused it be like that. but for the higher fee transaction, i never tried it before, maybe you can complete your pending transaction by increase your gas, i also wonder about this problem, actually we have the same problem. i cant deposit my token, when i track the hash, it keeps pending until now.

Eth blockchain is having a problem right now. I've tried the normal gas fee in ED which 4gwei it's so sluggish right now. Tried to rise up the gas fee to 55gwei it did go through but i feel like i got robbed because there's been an error on the said gwei so it charged me 0.02+ eth.

I have also done this just to get my transactions going, actually I even got to 61 just to get it flowing. It might be true that low gased trasanctions will be returned but how long do we have to wait until this happens.

Yes I wish I could have set the gas on the bitstamp transaction

Thanks for responding

since the gas fee will determine how fast your transaction will be, it will also determine how fast the return of it if your transaction is cancelled.

That blows!! but makes sense.

Whats the record for ETH to be tied up?!!

While your eth will be refunded due to insufficient gas to process and complete the transaction. The gas that you paid is entirely consumed and not refunded.

I sent a token and tx id was generated but no fee was deducted can i resend it or wait for some time for tx fee to be deducted.

This is an excellent question and I'm learning a lot from this thread. However if you're sending from exchange to exchange is there any way to set the gas for your transaction? Or is this something that's done by the exchange itself, and is passed on to us in the form of higher transaction fees?

I think it is appropriate because the etherium I think is altcoin that will be able to match its popularity like bitcoin.dan still many reasons to explain about bitcoin.

Ethereum is usually pretty easy to use and the transaction through Ethereum is kind of fast enough for wider usage. Give it some time.