Bitcoin Forum

Hi all!

I have a question about how long does it take to process a transaction. I read a lot about it, nevertheless, I am still confused.

There are two transaction in my wallet, that are still unconfirmed. One is very small, 684 satoshi, and it is idle for nearly a week. I guess it is possible for such a small amount. But the one that concerns me more, is 0,1BTC + 170b fee. I sent it more than seven hours ago, it is marked as "High Priority", it is 520 bytes in size, it has a fee, and yet - I am still waiting. Is it normal for such a transaction? Can I avoid that next time?
Transaction id: 9cd909bb8246dd7307b354279b1212f62b2780dfd901d64cea9f6db75f88da8f
My wallet: Bread Wallet on iPhone 4s

If it is normal, then please, explain me how can I pay with BTC in any store/bar, if I have no control if my payment will be received the same day?

What is actually happening is that that transaction is spending an unconfirmed transaction. A transaction can only become confirmed once the transactions before it are also confirmed. Your transaction (9cd909bb8246dd7307b354279b1212f62b2780dfd901d64cea9f6db75f88da8f) is uncofirmed due to a transaction it is getting inputs from (32956d6013d95928ee862e755f144f2676f42c1ee5edba0405c2e4c99d47e5e8) is also unconfirmed because the transaction that that one gets an input from (6ff132bd00c6a0ab6898b25d04073f6414d8c325a4df1a6f6771bbc7d9dbe6f3) is also unconfirmed. The reason that last one is unconfirmed is because it has a tiny tiny fee of 0.00000226.

This is not normal and most wallets do not let you spend unconfirmed transactions. To fix this, don't send transactions that have unconfirmed inputs.

You could use http://www.cointape.com/ to see what's really a high priority transaction according to the current fee market. Don't trust blockchain.info's measurement.

Hello,

Bitcoin network can handle only 3 transactions per second. Example Visa network even 60 transactions in second  :)

But, what would you say about this ?

https://www.blocktrail.com/BTC/tx/92161bd3fdd139d9f7a5a8f3fc1ef4ffeeae5e5ab8d636072c6e9c166bd64f34

High priority. No unconfirmed input. Only paid 0.0001 BTC for 3306 bytes. I found a CPFP attempt as well, where 0.0025 BTC were paid for 224 byte...

https://www.blocktrail.com/BTC/tx/7c395e9c3ec23a96b93338c1cd85f9d91b3a399337ef84171f935b4e36794263

But, Tx is unconfirmed since Monday. Are not miners getting too greedy ?

I'm not saying that is always the case, just that in this case, even though there is enough of a fee, the transaction remains unconfirmed due to unconfirmed transactions that it is spending from.

This transaction is quite large. It is 3 Kb, much larger than a normal transaction. The fee is not enough. Last time I checked, the recommended fee is 0.0001/Kb, so the fee for this transaction should be 0.0004 (it is greater than 3 kb so should be paying fee for 4 kb), which is probably why it is being delayed.

That one is trying to spend from an unconfirmed transaction for the CPFP. Very few miners have actually implemented CPFP so that transaction remains unconfirmed until either the previous transaction becomes confirmed or a miner that supports CPFP (Eligius) picks up the transaction and includes both of them in a block.

Thank you for fast and complex explanation!

I can see now what is happening. About one week ago, I received tiny amount of coins (684b) which are yet to be processed (32956d6013d95928ee862e755f144f2676f42c1ee5edba0405c2e4c99d47e5e8) and, to be honest, I have no idea where it come from. But as knightdk said, it cannot be confirmed until previous one will be (6ff132bd00c6a0ab6898b25d04073f6414d8c325a4df1a6f6771bbc7d9dbe6f3).

I was waiting for a new transaction to be confirmed, which I was sure it will take no more than couple o minutes (and I was right). So, I guess, I spent it before it was confirmed, and my not-so-smart wallet made new output, by mixing it with the part of other unconfirmed transaction. The other one, being unconfirmed for days now.

No I have blocked 10000000 satoshi, because of unconfirmed 684 satoshi  :-[


Is there ANYTHING I can do to fix that? Is there a chance, that this transaction will be never confirmed because of too small fee? Is it possible to loose your money like that?

Easiest is just to wait. The usual process will drop the tx from the mempool eventually. When that happens, you will "lose" the 684 from your balance and then you can set up a new, fresh tx for your 0.1.

Check your wallet software for a "spend unconfirmed" option and turn it off. If it doesn't have that option, bug the dev of the app to include one.

Well, I found an interesting thread on reddit:
https://www.reddit.com/r/Bitcoin/comments/2fe3dg/i_sent_out_this_transaction_over_a_month_ago_it/

Over a month...? Well, there is still a long way, before an ordinary, non-IT oriented person will be able to securely use Bitcoins.
My wallet has no option to change anything, but my local currency. There is not even an option to export my private key! I can only check my recovery phrase, and hopefully I can use it somewhere else to get access to my wallet elsewhere.

BTW. This was first or second app listed on iAppStore for a "Bitcoin" keyword - BreadWallet.

Oh Bitcoin, why can't you be more predictable for a normal man  :-\

... as you would expect from an experimental digital currency in beta status.  ;)


I don't know Breadwallet, but that "recovery phrase" sounds a lot like the BIP39 "standard", if that is the case you can recover all your private keys with other wallets supporting the same standard.