Bitcoin Forum

Hello Everybody,

I have a big problem with a wallet (electrum) that currently holds 0.2211+ BTC in it. I used it for a scrypt mining contract back in the days and have a lot of microtransactions received.
I want to transfer all funds to Binance but I cannot because of the very big fee. The transaction after I sign it is 83506 bytes :(( and when I try to broadcast it i get the following message :
error: the transaction was rejected by network rules
66: mempool min fee not met

If i enable dynamic fee the fee itself is higher than the amount i want to transfer :(
I can pay 0.01 or even 0.02 BTC for the fee if needed but I fear that this is not enough..
I don't mind if I wait for days for the miners to pick up the transaction, I just want to get rid of this wallet and create a new one.
Any help is much appreciated, please help me out.

I don't know if you could put all of the small transactions in one output or not, there should be some option to have input and output of what could reduce the on chain transaction size.
Or just beg a miner, give your wallet to a trusted miner, they would take your wallet and would spend almost all of your balance as miner fee in a block which they will be mining.

The only option to 'combine' unspent outputs is to make a transaction.

Unfortunately you won't be able to easily merge your UTXO's with the current backlog of transactions waiting to get confirmed.
You can either serach for a miner who will include your transaction for you or wait until the network congestion has settled down a bit. [1]
But this will still cost quite a lot of your whole balance. You might try to create a TX with 10+ sat/B fee and try your luck with viaBTC's accelerator.
They accelerate 100 tx/hour. You have to submit your TX within the first second(s) of a hour (https://pool.viabtc.com/tools/txaccelerator/ (https://pool.viabtc.com/tools/txaccelerator/)).

[1] Currently there are 170k+ unconfirmed transactions (https://blockchain.info/unconfirmed-transactions)

The problem is that electrum won t let me broadcast the transaction if i set 20 sat /byte. It gives the error from my first post. What wallet shoula i use to force the transaction with 20 sat/ byte?
Thanks

Are you using Electrum 3.0.5? you should update your client first, you could set any fee if you set fee manually in references, but you should find a miner and give them your wallet, they could create a small size transaction by including 90% of your wallet balance as fee, in that way they could include more transactions in their block.
You could import your private key in blockchain.info to set any fee, but giving your wallet to a miner is the best thing.

Given current fees of of 400+ sats/byte, every input you use in a transaction will require around 59200 sats as a fee (148 bytes * 400 sats/byte). So, any input you have which is less that 59200 sats (0.00059200 btc) will actually cost more to send than they are worth.

You can try using the "Coin" tab in Electrum (View ->  Show Coins) and ONLY select the coins worth more than 0.00059200... or you can try sending with a lower fee (like 100 sats/byte) which would require inputs to be at least 14800 sats (0.00014800 btc).