20-23 mocacinno

Thanks!

apparently, i was to late... 20-23 was already taken... Sorry!

99 - mocacinno

Thanks !

I have > 1 tBTC in my wallet... I use it to fund my faucet.
However, I don't lend out tBTC to people i don't know without asking for collateral. If i'd give 1 tBTC to every new profile that promises to return the tBTC after his/her tests were done, my wallet would be empty by now, and i would have to shut down my faucet...

tBTC is worthless, but it's supprisingly expensive to mine...

If you're OK with giving a decent collateral, i'll give you an estimation of how much i'd cost to mine 1 tBTC, so i can give a decent collateral estimation...

Repeating previous poster's advice: go for electrum...

Why? Well, it's a stepping stone...

If you advice your friend to use electrum on his mobile, he can start his learning curve. If he decides to move to a desktop wallet he can restore his mobile wallet on his desktop and have more or less the same features as he had on his mobile. Or, even better, he can create a brand new electrum wallet on his desktop...

IF, one day, your friend decides to go secure with an airgapped setup: electrum
IF he buys a ledger or a trezor: electrum

Electrum is open source an peer vetted, it can be used on your mobile, on your desktop (linux, windows and mac), it can be used as a daemon or with a gui, it can be used in an airgapped setup, it can be used together with hardware wallets... Do your friend a favour and point him in the right direction

I realise that many people are advising a multi-coin wallet, but this thread was generated in a bitcoin-related subforum, so i'm giving a bitcoin-related advice...

thanks for the tip, i'll bring it to the owner's attention


Thank you VERY much for bringing this to my attention!!! An upgrade of the theme broke the translatepress setup and resulted in a 500-error. Since i only checked the dutch pages after upgrading i completely missed this issue. I hope i fixed it now... That being said: the translation is always a work in progress i'm afraid. The owner sees dutch-speaking countries as the primary target audience, so the translations get forgotten quite often. It's usually up to me to clean up the mess afterwards (in other words: quickly translate afterwards).


About the look of the website: it's true that it's based on wordpress, but this was chosen this way because the owner had a little bit of wordpress experience AND because the owner also makes blogposts using the same platform. Using 2 platforms wasn't a good choice in this specific situation.

As for the shipping: yes, it should be available worldwide, but i don't think a lot of sales were made outside the benelux (Belgium, the Netherlands and Luxembourg) yet... I'd have to inquire with the owner to verify, but i do have access to previous sales, and most of them were "local" (dutch-speaking regions).

Those passwords aren't saved ON your trezor... They're saved on dropbox or drive, but they're encrypted with keys derived from your seed phrase.
So, if you have a new trezor, you still have your seed and you still have access to the dropbox or drive where those encrypted passwords are saved, you should be able to restore them.

try executing from your home dir (~)

If you see an output like:
which: no bitcoin-cli in
bitcoin-cli is not in your path...

In that case you either have to put ~/Downloads/bitcoin-0.20.1/bin in your PATH, or you have to cd to ~/Downloads/bitcoin-0.20.1/bin and execute
./bitcoin-cli [function]
You didn't do this in the code you pasted => the [dot][slash] NEEDS to be there if ~/Downloads/bitcoin-0.20.1/bin is not in your path!!!

And, as being discussed before, getinfo is depreciated, i'm not running the latest release, i'm not sure if it's even still there...

As for your second problem:

• is bitcoind running under the same user you're executing bitcoin-cli with?
• is bitcoind running?

could you execute

The main problem in this thread is that you've asked something nobody can ever know for sure...

If you ask a question like: how to solve this mathematical equation... Or: i've got a problem with this script... Or: Why do i get error message x... Or: what's the maximum size of a transaction... People can give a definitive answer... Sure, it might be hard, or it might depend on your os, your settings, your version, or other parameters, but people WILL be able to give an anwer.

In your case, you basically asked a question like: who will win the US elections? Sure, people can make educated guesses, but they'll always remain guesses since nobody knows how many people will actually vote, nor do you know who they'll vote for. The only way of answering this question is: wait and see... That's exactly the answer to your question: "Wait and see".
People can make educated guesses based on some parameters (like the shutting down of some chinese miners, or the volatility of the price, or... anything at all), but there is no model nor certainty as to what combination of factors caused the mempool congestion, nor is there certainty about when it'll stop.

Your question basically translates into 2 questions that can never be answered completely:

• When will all bitcoin users (both present and future) stop broadcasting less transactions in a certain timeframe than miners will be able to put in the blocks they solve. Since there is no way to know all bitcoin users, their plans, their motivations, this question can not be answered
• When will the hashrate rise again: every 2016 blocks, there is a difficulty adjustment so the average time between 2 blocks is once again ~10 minutes. However, if the hashrate drops between 2 retargets, the average time between 2 blocks will be > 10 minutes untill the next retarget. A bigger time between 2 blocks = less space for transactions. We know that the difficulty will retarget every 2016 blocks, however we have no idear about miner's plans... If the hashrate steadily decreases the average time between 2 blocks will be > 10 minutes, if the hashrate steadily increases the avg time will be < 10 minutes

There is no way for them to "speed up" or "expedite" confirmations... They (the miners) have hardware running to find a sha256(sha256(block header)) that's under the current target. It's not like they can increase the target by themselfs nor do they have a button they can click to increase their hashrate (in order to do this, they have to buy expensive ASIC's, which can take several weeks to arrive and configure). An increase in the target will only happen if the average time between blocks is > 10 minutes, at this point the difficulty will be decreased and the target will increase at the next difficulty adjustment.

If you look at any block explorer, for example this one: https://blockstream.info/ you'll see that the last 10 blocks were completely full (out of the 10 blocks that were shown). This basically means that individual miners are not hindering anything, they're doing everything they can to confirm as many transactions as possible.

Appartently there was a significant drop in hashrate recently, it's being attributed to chinese miners turning their gear off because they have to pay higher power prices this season (it's a rumour, there's no proof AFAIK), so they can't mine profitably. This might cause the average time between 2 blocks to be > 10 minutes. But still, we'll have to wait untill the next diff adjustment... An individual miner cannot change, fix, or speed up anything.

The problem is basically that more transactions are broadcasted per timeframe than can be fitted into blocks at the same timeframe... It can be caused by to many transactions, or by a drop in the network's hashrate (so less blocks will be solved). In this case, it looks like it's both; more transactions + drop in the hashrate.

The only thing i can tell you is that anybody who gives you a precise answer to your question is probably guessing...

There's no way of telling how long it'll take before we see <10sat/vbyte fees again... In 2018 the optimal fee was >10sat/vbyte for multiple months... This time it could be for a couple of days, a couple of weeks, a couple of months... Or even longer.

If you see a green "V" symbol next to a transaction in your transaction history, it should be confirmed... On the other hand, the "pending" message at the bottom usually means it's unconfirmed... hard to asses the situation with a tx id or screenshot tbh.

Can you verify this transaction on a block explorer like blockchair.com? Or, if it doesn't hurt your privacy, you could also post the tx id on this thread...

the mempool is rather full lately, pushing the tx fees trough the roof... It's possible transactions that cheaped out on the fee remain unconfirmed for hours/days.
As a receiver, you can do a CPFP to get an unconfirmed tx confirmed, however: when performing a CPFP you (the receiver) will pay allmost double of what the sender should have payed in the first place...

Yesterday i wrote a big tutorial on CPFP's:
https://bitcointalk.org/index.php?topic=5285192

This would never have worked, even if the function wasn't depreciated:

This could have worked tough...

no dash in front of the function in when invoking bitcoin-cli

Make sure bitcoin-cli is either in your path, or if it's not in your path make sure you're in the dir where the binary is located and start with ./bitcoin-cli getinfo

Good luck!

I wonder if you're not trying to reinvent the wheel...

There's a parameter you can use for bitcoind instead:
maxuploadtarget


You can even combine this with:
connect

if you only connect to one or two nodes, you have bigger odds for a sybil attack, but if you connect to nodes you trust, the network traffic should be significantly lower

oh, and last but not least, make sure your node isn't pruned... If you run a pruned node and something goes wrong, you'll need to redownload all those blocks...

It makes no sense talking about "minimum costs". The fee is calculated in sat/vbyte. If you say the minimum "cost" is 20k satoshi's, that'll only lead newbies the wrong way.

A one input, 2 output transaction from a native segwit wallet has a size of ~180 bytes, at the moment you should pay at very least >200 sat/vbyte. 200*180 = 36k satoshi's.

And that's for a tiny transaction, and not paying the optimal fee but barely the minimum fee.

If you have bigger transactions (2 or 3 inputs, 2 outputs, non-native segwit wallet) and you want a big chance of getting confirmed in the next 2 or 3 blocks, your fee is rather going to be in the 130k sat range.

But if you talk about the minimum fee, that's still 0. 0 fee transactions are still theoretically possible, but allmost no nodes will relay them, and allmost no miner will put them into a block he/she is trying to solve...
IIRC, the default minimum relay fee is 1 sat/byte, so for a "small" transaction that's only 200 sat's... Offcourse, at this moment in time, your transaction will not be mined untill the mempool is allmost completely empty (which can take days/weeks/months)

There's no direct link between the fee and bitcoin's FIAT conversion rate.
The fee (in sat/vbyte) only depends on: the fee, the size and the amount of other transactions currently in the mempool. If the cumulative size of transactions entering the mempool is equal to or less than the cumulative size of transactions that fit into blocks during a certain timeframe, the fees will decrease and vice versa.

It is true however, that during a price peak, it's not unusual to see more transactions being broadcasted, so it's not unusual to see the fee rise.

Ofcourse it's obvious that if you're looking at fiat values, even a status quo will mean an increase in fiat value of the fee... A 2000 sat fee is a 2000 sat fee, but the fiat value of a 2000 sat fee at a time when the conversion ratio is $13000/BTC is 10 times less than a 2000 sat fee at a time when the conversion ratio is $130.000/BTC.

If you're worried about the fees, it might be a good idear to read up about the lightning network, or convert some of your BTC into a stable altcoin, or at least consolidate your outputs when the average feerate dips for a couple of hours...

Yup, there are several ways of getting a tx unstuck... I've already explained that in my OP (big red letters). The thing is: you have to opt-in rbf... Once a newbie has his tx stuck, it's to late if he didn't opt-in...

Not always. But usually, a change address is generated. It's possible to spend the complete value of one or more unspent outputs without sending change to a change address. In this case, only the receiver can do a CPFP

RBF is usually cheaper by the way... an rbf has to pay for it's own bandwith tough... I'm going to assume a tx has a size of 200 vbytes for this example. So if your original tx had a size of 200 vbytes and a fee of 1 sat/vbyte (so 200 sats) and this tx gets stuck and you bump the fee the following will happen: Let's assume your rbf tx has a size of 200 vbytes so it's fee has to be at least 200 sat's higher than the original (so 400 sats) . In this case, this is the same as a minimum fee of 2 sats/vbyte. So, if you look at it this way, an RBF requires a minimum increase in the fee of 1 sat/vbyte. That's not a lot, and usually you need to bump the fee by far more in order to "fix" your problem.

A CPFP will actually have to pay for two transactions with a size of 200 vbytes (400 vbytes in total). If you use a fee of 2 sats/vbyte you'll end up with 800 sats in fee vs 400 for a RBF...

Offcourse, we're talking about fees of >200 sats/vbyte at this moment



I have a hard time understanding the question... But i'll try to give a more generic answer: if you send funds to your friend and there's change going back to your wallet, you can execute a CPFP using the unspent output funding your change address. A CPFP's output can be an address belonging to your own wallet.

Since the mempool is filling up nicely the last couple of days and i see loads of new and longtime members struggeling getting their transactions confirmed after paying a fee that's to low for the current status of the mempool, i decided to dedicate a long post to executing a Child Pays For Parent (CPFP).

What is a CPFP?
Well, if you create a transaction, you use one or more unspent outputs as an input for your new transaction, and your transaction creates one or more new unspent outputs funding an address created by the receiver and USUALLY the leftover funds (the change) funds an address created by your own wallet (the change address).
If the fee (in sat/vbyte) you chose when creating your transaction was to low (sometimes the wallet set a low fee in your place), miners won't have an incentive to add your transaction to the block they're currently trying to solve (yep, the fees go to the miner, NOT to the creator of the wallet), so the odds of getting your transaction confirmed are low.

A CPFP fixes this problem. A CPFP is taking one new unspent output created by your unconfirmed transaction and using it as an input for a new transaction. This new transaction should have a fee that is at least enough to cover the fee of your stuck transaction + the fee of your new transaction (minus the fee already payed for the stuck transaction).

If i miner wants to collect this big fee of the second transaction, he also has to put the stuck transaction into the block he's trying to solve.


A theoretical example
unspent output aaa with a value of 1 BTC funds address 1MyWalletAddress
you use unspent output aaa as an input for a new transaction funding address 1ReceiverAddress with unspent output bbb (value 0.5 BTC) and change address 1ChangeAddress with unspent output ccc (value 0.499999). The fee payed by this transaction is 1 - (0.5+0.499999) => 0.000001 (100 sats). Waaaay to low... This transaction is stuck in the mempool for ages if we don't do something...

Well, luckily both you and the receiver have access to an address that was funded by this stuck transaction:
you have address 1ChangeAddress funded by unspent output ccc
the receiver has address 1ReceiverAddress funded by unspent output bbb

Soooo.... Either you create a new transaction using unspent output ccc as an input or the receiver creates a new transaction using unspent output bbb as an input.
The fee you should pay for this new is:
(the optimal fee of the first transaction) + (the optimal fee of the second transaction) - (the fee already payed for the first transaction => 100 sat) + (something extra since you don't want both transactions to get stuck if there's a sudden influx of tx's in the mempool).

For newbies, it might be usefull to use tools like https://coinb.in/#fees, together with block explorers like blockchair.com to get a hold of the sizes of transactions (yes, it's the size of the transaction that matters, not it's value... It's perfectly possible to transfer $1.000.000 in value and pay a smaller fee than transferring $50 in value... It all depends on the amount of unspent outputs used as an input, the amount of new unspent outputs created, and the type of wallet).

A little boilerplate background info before i start posting screenshots:

• CPFP is NOT the only tool in your toolbox when being faced with stuck transactions. Ideally you should have enabled opt-in RBF so you can just bump the fee.. Or you could pay viabtc or use their free accelerator, or you could just wait it out...
• I'm giving demos on the TESTNET... Yeah, at current feerates i'm not going to do a demo on the main net
• I take no responsability if you follow this walktrough and things go wrong... DYOR before executing following steps
• I'm using electrum... Why electrum? Well, to begin with, electrum is a popular wallet by itself... But, it also allows you to use many popular hardware wallets together with electrum without compromising your xprv. It also allows you restore wallets from many other popular vendors, and last but not least: it allows you to easily import multiple private keys... So many situations can be solved by using electrum, even if the initial problem wasn't "created" using electrum. Oh yeah, electrum runs on linux, windows, mac and android
• Do be carefull when downloading electrum: only download from electrum.org AND verify ThomasV's signature!!!

Now, let's get to it... Creating a CPFP for newbies (the easy version):
Right click on the stuck transaction and see if there's a menu: child pays for parent... Follow the wizard


you'll be presented with a nice gui:


and what do we learn from this gui?

• the sum of the sizes of the stuck tx + the cpfp tx is 417 bytes
• since the testnet only requires 1 sat/byte, the gui proposes a fee of 417 sats...
• since the stuck tx already had a fee of 226 sats, this makes the total fee for child + parent 643 sats

If presented with the following screen, just click on "sign", sometimes you have to enter your password or use your hardware wallet to sign


if presented with the following screen, click on "broadcast"



Now, let's get to it... Creating a CPFP for newbies (the hard version where you'll actually learn what you're doing and have full controll):
i started my electrum client on the testnet... But everything should work the same on the main net!



I "accidentally" created a tx with a fee of 1 sat/byte... For the testnet, that's actually sufficient... But we're going to pretend we're on the main net, and our  sat/byte tx will be stuck for days/weeks


if i copy the tx id and look it up on an explorer like blockstream, or blockchair, or blockchain,...

you can see the following things:

• the status is unconfirmed... that's the big problem isn't it
• the ETA is one block because we're on the testnet... You'll probably see a much larger number, otherwise you wouldn't be reading this walktrough
• you see a fee of 1 sat/vbyte
• you see i opted in RBF... If you see the same for YOUR transaction, there's a much easyer way to solve your stuck transaction... Just increase the fee with electrum's gui... But for this tutorial, i wanted to show a CPFP, so that's what we're going to do (eventough i can get this tx unstuck in an easyer way)
• but the most interesting thing to see on this screenshot is: there are 2 unspent outputs created: one funding address 2MyMu3v5U7P7Ri2gThigxRn9VmandyepBVG with an unspent output with value 0.005 (this is the "payment"), and one funding address mjUxPsHYbn9rrs9c8bqNr4WFKCoeWCatmw with an unspent output with value 0.04499776 (this is the change)... Remember address mjUxPsHYbn9rrs9c8bqNr4WFKCoeWCatmw it's going to come back to haunt us

we want to show our unspent outputs in electrum


go to the "coins" tab, and you'll see a list of unspent outputs funding your addresses:


Do you see the unspent output funding my change address? mjUxPsHYbn9rrs9c8bqNr4WFKCoeWCatmw? That's the one we need!!! You could verify this by looking in the same "coins" tab to the "output point" column. This should be the tx id of the stuck transaction!!!
This tutorial is written from the sender's point of view... HOWEVER, it works exactly the same way if you're the receiver. In this case, you'll also see an unspent output funding the address you gave to the sender, this is the unspent output you want to use

once you've found the unspent output funding the change address created by the stuck transaction, do the following:




go to "preferences"


the transactions tab:

• use replace by fee => check if you never want to create another CPFP
• check advanced preview
• the rest are my personal settings, you can do with them what you want after reading the help info

go to the "addresses" tab (wich you might have to activate by clicking "view" => "show addresses" and pick an unused address (or a used one, i don't care)


copy it


click on the send tab, paste it, click on "max"


since you enabled "advanced preview" in the settings, you'll end up on this page:

As you can see, you can manually set the fee for your CPFP tx... Remember, you need the fee to cover the fee for your stuck transaction AND your cpfp transaction... Calculating an appropriate fee is a completely different discussion... And since this post is already huge i'll skip it... As a rule of thumb, you should at least double the current fee, unless the stuck transaction is big (in that case doubling it won't do the trick).

click on sign


enter your password (or sign using your hardware wallet)


click on "broadcast"


here's the block explorer's view of the address i'm using to receive the change from my CPFP:


Now, this is concludes creating a CPFP... Now let's see on my node what we actually did... This step cannot be executed by you, and it's not something that's necessary to create a CPFP... It's just my way of showing what actually happened:


This is the mempool view of my CPFP tx: do you see the fee? It's much higher than the 1 sat/vbyte fee we used for our stuck transaction isn't it? What's even more important is to see the tx id of the stuck transaction in the section "depends". This actually means that a miner cannot claim the fee of the CPFP tx without also including the stuck transaction... The CPFP tx depends on the stuck transaction.
Once a miner mines a block that includes the CPFP tx, he also has to include the stuck tx, solving your problem

Ledger live sometimes "hangs" on my machine aswell... Stopping the app and restarting usually does the trick. However, i usually use ledger in combination with electrum... I don't restore my wallet, but actually couple my ledger to electrum:



This is safe to do, and electrum has a lot better coin controll features....

The only thing that actually matters is finding out if 33yvXaH8ZvebD5ZTBTYzVUrAKCEaCiA1eR is a change address generated by your wallet. If it is, it's just a visual glitch, if it isn't there's a problem.

99 - mocacinno

Thanks 

Did you read the post right above yours?


Please move this question to a new topic... But i can give you some pointers: you payed 100 sat/byte while you should have payed at least double to have a decent chance of getting a confirmation in a semi-reasonable time.

Since RBF wasn't enabled, you can still do a cpfp or pay viabtc to include your tx into their next block (or try to get in their free accelerator service which only accepts 100 free submissions/hour). If you wait ~2 weeks, most nodes will have dropped your tx from their mempool, so shortly after 2 weeks, your funds should be "returned" to your wallet, depending on which wallet and which node it can take a little longer or a little shorter.

If you want an in-depth discussion about what you can do: open a new topic