Electrum don’t even let me broadcast my transaction telling me that i am a cheapfuck who needs to raise the damn fee because greedy fuck miners say so or else they ain’t broadcasting my shiet.
It is not the miners that did not let you to be able to use low fee, it is how the mempool is. Presently, nodes are rejecting transactions with fee rate of 10.7 sat/vbyte or less. As the mempool is becoming congested, so the purging will be getting higher. |
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Also, if it's true that Mempool.space has partnered with Foundry as the pool that includes the transactions in their blocks, you will get a quicker confirmation since Foundry has more hash power and finds more blocks than ViaBTC. That's an advantage if the unconfirmed transaction is time-sensitive.
I have registered since more than a week. This is what I am still seeing as I quote it in a text before. This is the screenshot:  Although, I do not need a paid accelerator, I will still prefer to always use ViaBTC. My transaction will have 18.5 sat/vbyte segwit transaction, not having unconfirmed parent and not more than 500 bytes. I can wait for the transaction to get confirmed. It was only ones that the transaction got confirmation like 12 hours after I submitted my txid, it has gone back to as usual as the transaction will be confirmed in the next block that ViaBTC mine if successfully submitted. It is taking not more than 3 hours, but it depends also. Knowing that 2000 is the average number of transactions in a block then they cater 100 free tx every hour, it could have downside for their Pool. Either they lower the accepted free txs every hour, say 50-80 only, have a cap for free txs in a block, or they stop their free acceleration service.
It is still 100 transactions. ViaBTC has not stopped its free accelerator service. |
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If you run your own lightning node and open a channel with another node, there is no fee needed. If you depend on people's channel, or not connected directly to someone, you will need to pay little amount in fee. As an example, for a 0.027BTC transaction the fee I paid was 0.000164BTC which is comparable to the on-chain fee.
This is not possible as of now. |
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The balance was 0.379 mbts. I had to pay 0.22. The mining fee was approximately 0.9 mbts.
A transaction of 1 input and 1 output will only take 110 vbyte, and with 114 sat/vbyte as fee rate, and bitcoin at 43500, the fee should not be more than $5.45. if it is with legacy address, the fee can not be more than $10. 0.9 mBTC is equal to $39.15 if bitcoin is $43500. That is too high. What can likely case in if if you have many inputs or outputs in that transaction. If you are having many UTXK count, which will lead to high inputs if you want to make transaction (like consolidation), the transaction fee will be very high. The best is to wait for the mempool to become less congested before making such transaction. Like if you are lucky and the mempool go less congested that 1 to 2 sat/v ye transactions can get confirmed again. |
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Please what is correct derivation path??
You do not need to refer to derivation path while importing on a wallet that you are using before. But if you want to know about derivation path which is not what you are asking on this thread, these are the standard derivation paths: BIP 32: m/0'/0 is the path to HD wallet. BIP 44: m/44'/0'/0' for legacy addresses (addresses that start from 1) BIP 49: m/49'/0'/0' for nested segwit addresses (addresses that start from 3) BIP 84: m/84'/0'/0' for native segwit addresses (addresses that start from bc1q) BIP 86: m/86'/0'/0' for taproot (addresses that start from bc1p) But what I most likely guess is that people that are using ImToken wallet are most likely using it for altcoins. For bitcoin, I will recommend you to use wallet like Electrum, Sparrow or Bluewallet. Assuming you are importing on a different wallet, then you can think of knowing about the derivation path of the addresses that you are using on your old wallet. |
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Wow! The new wallet it gave me starts with 3. But if the seed phrase is wrong I should have gotten an error message instead of giving me someone else seed phrase
I mean if your old wallet address starts with 3, that means it has the correct derivation path, because as I downloaded the wallet just now, the address starts from 3. But I am surprised that there is still a wallet that do not support native segwit. |
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I imported it on the imtoken wallet. Do you mean I should try importing the private seeds on electrum app?
You imported the wrong seed phrase. If you import the correct seed phrase, you will be able to see your balance. Your wallet on the phone you lost your password is ImToken wallet, and you import the seed phrase on ImTokne wallet. You suppose to see your coins after you import the wallet. What character did your bitcoin address starts from? If it is 3, then you imported the wrong seed phrase. |
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Yes, I understand that the once the sender increased the transaction fee the old transaction was invalid. It's replaced by another transaction that got confirmed. But the fund isn't in my wallet. does it take a while for the fund to appear?
If you did not double-spend the coins in a new transaction, in which the transaction is not replaced, you will still be able to see the unconfirmed or confirmed transaction. Check your transaction history on the wallet and see that no transaction was made unknowingly to you. |
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I would have given 1 merit to this post but you made some mistake. No mistake in the part that I did not quote. It is true that unemployment can reduce adoption as some people will want to buy bitcoin but not able to. Also some people may not be able to buy enough. It is also true that it would have been better if Nigeria government do not allow CBN to ban bitcoin and other crypto transaction. The fact that creating a block chain in Nigeria to regulate the use of crypto and protect investors remains valid.
You can not create blockchain to regulate the use of cryptocurrencies. No blockchain needed to regulate cryptocurrencies. - with the anonymous nature of bitcoin, it allows privacy between both parties
- financial independence
- transaction fee is minimal in both international and national.
Bitcoin is not anonymous, it is semi anonymous, or pseudonymous. You can trace bitcoin transaction on blockchain, but you may not be able to link the transaction to person that make the it. As people are using their IP address and SPV wallet, this makes linking transactions to the person that make the transaction to be more possible. That is why it is good to use Tor to connect to your SPV wallet for anonymity, or just go for the best way to privacy by running your own node with Tor and not depend on central servers. You may not be financially independent because of bitcoin. Those early adopters were the ones that are lucky. We should not mention transaction fee this time because bitcoin transaction fee is huge recently as mempool is congested. Edit your post and make corrections. |
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If more mining pools follow suit, this should be good for Bitcoin users.
You are right, but only ViaBTC is providing transaction free accelerator, others like Binance pool are paid ones. Paid accelerators transaction fee are too high and not worth using. The third one that I know which begin transaction accelerator service recently is mempool.space, it is of high fee like ViaBTC paid accelerator and Binance pool accelerator, according to what was posted on English board, but still not worth using for the fee is still high for me. The best would be to follow the criteria ViaBTC have for its free accelerator, and use it. I use ViaBTC free accelerator always and it works. |
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I got another question if someone could help me. When I did the bump fee on the bluewallet, a new transaction was created and the old was gone. I have another bitcoin transaction from last week that I didn't bump fee becausee I wasn't in a hurry to receive it. I just checked that transaction and mempool shows that it has been replaced by another transaction with 13 confirmations. Someone did a RBF. I checked my wallet, the fund isn't there and pending transaction disappeared. What happened to the fund that I'm supposed to receive?
You mean you want to receive coins on Electrum, but it is unconfirmed, later you did not see the transaction? What would have caused that is that the transaction which you did not see again got replaced. Increasing the transaction fee will make the old transaction become invalid. I thought you know that already. Also a transaction can drop from mempool in a way the coin can be spent again in another transaction which can also cause it. |
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The reason for this is the derivation path which is used by trustwallet m/84'/0'/0'/0/0 while Mycelium wallet is m/44'/0'/0'/0 See what OP posted: I have seen all three in my mycelium but I used “bc1” to receive my coin.
That is m/84'/0'/0' |
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I have seen all three in my mycelium but I used “bc1” to receive my coin.
You supposed to see your coin on Trustwallet and Exodus. Likely you imported awrong seed phrase. Mycelium is supporting other coins (altcoin). Maybe you have altcoin instead. This is how you will import the seed phrase on Electrum: On mobile Click on standard wallet -> I already have a seed. Input your seed phrase and click on Electrum at the top right corner and click on BIP39 and click on next. The derivation path is native segwit (p2pwsh). Legacy for addresses that start from 1 Wrapped segwit for addresses that start from 3 bc1 is native segwit which is what you will select as I explained above. On desktop Electrum, after you input the seed phrase, you will click on 'option' to select BIP39. |
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Neither Trustwallet not Exodus is supporting lightning network. Both are also both close source wallet. The are not recommendable.
What character did you wallet address start from? Is it 1, 3 or bc1?
It can not be bc1. Trustwallet is only supporting bc1.
I can recommend you to import your seed phrase on Electrum. If you tell us the character the address start from, we can tell you how to import it on other wallets like Electrum.
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iPhone's rarely dies for no reason. Nah but it was just an idea I had spinning in my head some days and why not share it with others here, hehe.. Enjoy your day friend.  Something can happen that will lead to loss of the wallet while you will still have access to your phone. Phone can also be lost at anytime. So backup your seed phrase and passphrase, but separately in different locations.
It would be more appropriate to make duplicates of the passphrase and seed phrase and store them somewhere else in case something unexpected happens. Yes there it is better to do a duplicate back but make sure they are not that much that you’re even creating a redundancy. Too much back locations might expose some of them Yes, that has always been my advice. But my advise as always been to triplicate the seed phrase (+passphrase if included), separately in different locations. |
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It is recommended to backup your wallet for you coins not to be lost.
If you do not backup your wallet, your wallet can still be compromised and your coins can still be stolen. Do away with malware. But the best is to go for a cold wallet or a multisig wallet on different devices.
If you are concerned about your seed phrase, you can use passphrase with it to extend the word so that it will be difficult for offline attackers to compromise your wallet as different keys and addresses will be generated.
Know that you will need both seed phrase and passphrase to recover your coins. So backup your seed phrase and passphrase, but separately in different locations.
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There is a recent topic that have a link to a news about how address poisoning which we are talking about is used to drain people's wallet. You can also read about it: Do not take address poisoning as a joke, it is real.It is also good to check and recheck the address we are sending coins to, making sure it is correct. Not that an address should be similar, but the same to the address we are seeing coins to. |
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I understand you quit well. But one more thing I would like to ask is that can bitcoin be hacked from someone exchange wallet? like binance, kucoin or mexc by wallet address or by releasing your bitcoin address?
Very likely, especially on exchanges accounts that do not have 2FA security protection. Also through clipboard malware. That is why it is good to check and recheck the address that you copy and paste. Making sure it is not belonging to an attacker. Especially checking the middle characters. Or apart from the case you explained above is there other way scammers can attempt to hijack fund from a wallet? Because the way bitcoin is pumping we really need to be careful not to fall to this scammers web.
Clipboard malware should be avoided. Malware generally should be avoided. Hacks are through malware. |
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But one thing I will like to ask how can one avoid this thing you have just explained? Is it by copying our bitcoin address directly from exchange before sending to depositor?
Yes. Not to copy the address that you sent coin to last, thinking it is your exchange address, but not knowing an attacker has sent you small amount of the coin like $0.00001 of the coin with similar address to yours, just for you to mistakenly copy the address, thinking it is your exchange address. But not only exchanges, also it applies also to your wallet. |
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