Can one see if the transaction is dropped by the pool & does it show on the blockchain transaction if it is returned to my wallet?
Take note that any node has its own mempool. It's possible that a node has your transaction in its mempool while another node doesn't have it. Whether your (unconfirmed) transaction is shown on a block explorer or not depends on whether or not they have your transaction in their mempool. |
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How long would it be before a transaction comes back to a wallet with the fee being too low?
By default, transaction are dropped from the mempool if they stay unconfirmed for 14 days. It's possible that a node a different setting. It's also possible that your transaction is dropped from the mempool, if the the size of mempool reach its maximum. |
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How do I pay more in fees when the BTC has left the wallet & what is 'CPFP the output'?
CPFP (child pay for parent) means that you spend the unconfirmed output with a high fee, so that miners include both parent and child in the same block. Let's say you have made transaction A and that's still unconfirmed. You make transaction B and spend the fund received in transaction A. As long as the transaction A is unconfirmed, the transaction B can't be confirmed and if a miners wants to include transaction B, they have to include transaction A too. If you make transaction B (which can be a transaction to your own address) with high fee, so that the combined fee is high enough, miners will include both transactions in the same block. Combined fee rate is equal to the total fee paid for transactions (the unconfirmed transaction and the new one you make for doing CPFP) divided by total size of them. |
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So I typed in my sixteen words and the coins appeared in this new wallet.
You probably had 12 words, not 16 words. I now have the novelty that I can see them on both the old PC in the old default wallet and the new PC in my named wallet.
Note that with having the same wallet in two different devices, you increase the risk of getting hacked. I plan to eventually move my coins to a Trezor wallet. But is there any way I can disable the old default wallet in my old PC, before I get rid of the old PC entirely?
You can delete the wallet file, but note that even if you do that, it won't permanently leave your hard derive. There are recovery tools that can recover the delete files. The best thing you can do is to create a new wallet in your new device, make a transaction and move all the fund to that. |
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And i reduced the tx fee the reason my transaction was delayed for more than 24hrs. It has been confirmed already.
You can't replace your transaction with a new one paying less fee even if the original transaction has been flagged as RBF. You should pay higher fee for the replacing transaction or it will be rejected by the nodes. Don't expect that transaction to get confirmed because:
OP's transaction has been already confirmed. |
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According to title of your topic, I feel you have misunderstood something about how RBF works. Note that miners prioritize transactions based on their fee rate and it doesn't matter whether your transaction is RBF enabled or not. If you flag your transaction as RFB, you will be able to replace it with a new one paying higher fee and get confirmation faster. It's not that you can get confirmation faster just because your transaction has been flagged as RBF. I just submitted your transaction to ViaBTC free accelerator. It will be likely confirmed in the next block by them. Edit: Acceleration was successful. ViaBTC included the transaction in block number 788,790. |
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The transaction is on the end of the mempool, ETA is In several hours (or more), Im not in a hurry so maybe I can bump the fee like this to 100.sat/byte estimate is within 25 blocks. Is that enough for a confirmation for maybe a few hours or days? or should a go for 200sats for a sure transaction?
Bump the fee rate to 17 sat/vbyte and then submit the new transaction to ViaBTC free accelerator. With doing so, your transaction will be likely confirmed in the next block mined by ViaBTC. They have around 9% of the total hash rate and mine a block around every 2 hours on average. Note that for setting the fee rate manually, you need to click on "Settings" button and check "Edit fees manually". |
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So the best is just to wait or find a bitcoin transaction accelerator (paid one probably in your case).
OP's transaction has been already confirmed and there was no need to use paid accelerators. The transaction was successfully accelerated through ViaBTC free accelerator by OmegaStarScream (See the first reply) and was included in the block number 788,519. |
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You should expect an option which is "Cancel (double-spend)"
OP's transaction hasn't been flagged as RBF and that's why that option is not available. To OP: Your tranaction hasn't been flagged as RBF and there is no way to bump the fee or cancel it (cancel=replace the transaction with a new one sending the fund to your own address.) You can submit your transaction to ViaBTC free accelerator. With doing so, your transaction will be likely confirmed in the next block mined by ViaBTC. They have around 9% of the total hash rate and mine a block around every 2 hours on average. |
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There are many features of the electrum wallet that makes it outstanding but most users who have larger amount of Bitcoin would prefer to use a more secured means to store their Bitcoin that is the hardware wallets.
Electrum can be as secure as a hardware wallet if it's used in the correct way as a cold storage. With installing and running electrum on an air-gapped device, your keys would be kept completely offline and your wallet would be completely secure. |
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Now the reason I replied here was to know if I can send another transaction to counter the first transaction, I actually wanted to create a topic but seeing this was an avenue for me to also lodged my complaint.
Given the information displayed on the image you shared, your transaction should be: d3d69e769a318de71d165cf3ccfaa1fb0fab7ac570fc2aba172132056f7e4fdf. As your transaction hasn't been flagged as RBF, you can't replace that with a new one even if you use much higher fee for the new transaction. Now, your transaction is around 4.5 vMb from the tip and I also expect it to be confirmed in the next 24 hours. Of course, there is no guarantee that it will be confirmed in the next 24 hours. Edit: I just submitted your transaction to ViaBTC free accelerator. Assuming your transaction won't be confirmed normally, it will be likely included in the next block mined by ViaBTC. They have around 9% of the total hash rate and mine a block around every 2 hours on average. Edit 2: ViaBTC included the transaction in block number 788,519. |
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So, if my transaction exists in at least one nodes mempool, then it can be processed? Sorry for my lack of knowledge. I don't understand it
Only if that node is owned by a miner. If the miner that have your transaction in the their mempool mine a block, your transaction can be included in the blockchain. (This is assuming the network has become less congested and the fee rate used for transaction is enough now.) |
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Now that (unfortunately in my opinion) there are ordinals and taproot, what if in 20 years from now the network is congested and the fees are much higher than the transaction I have signed?
I answered this above in my previous post. As I said, they can pay a miner to include the transaction. Note that even if the fee is zero, there's nothing prevents miners from including the transaction. Assuming the fee is enough for the transaction to enter the mempool of nodes, the other thing they can do is to broadcast that transaction and then do CPFP with spending the unconfirmed outputs with high fee rate. What I think he meant is that what if someone has a time lock transaction for his child and he dies, the set date or block height reached and the fee used is low while the mempool is congested at the time, leading to the transaction to be dropped out of the mempool.
Right. I understood the same thing from apogio's question. |
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Thanks but I have a very important question here. Let's say I have signed a transaction using timelock for 20 years in the future. Then, let's say I die and my child needs to broadcast the transaction. What if he has the same problem and I am not alive to re-sign a new transaction?
They can wait until the network becomes less congested and rebroadcast that transaction. If the network stays congested, they will have to pay a miner to include the transaction in a block. |
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Some nodes have dropped your transaction from their mempool while some others still have your transaction. For example, you can see your transaction on blockchain.com, blockstream and mempool.space, but it's not shown on blockchair.com. I'm not familiar with the wallet you are talking about, but as it shows your transaction as failed, it means that your transaction has been dropped from their mempool as well and you should be able to broadcast a new transaction. The problem here is that the first transaction hasn't been marked as RBF and nodes that have your first transaction in their mempool will reject the new transaction. |
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The last word of the seed phrase that is shown in your image should be clarify, not clarity. It seems that you made a typo. That's a segwit seed phrase (standard, not 2FA) and I could generate a wallet successfully with that using version 4.4.1 on windows.  |
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It is kind of confusing me because to me it is still 2-of-3 multisig wallet in which only two seeds are need to make transaction, not three seeds.
You need two of three seed phrases for signing your transaction, but to create your wallet, you need the master public key that is derived from the other seed phrase too. You create a 2 of 3 multi-signature wallet, so that you will be still able to spend your fund even if you lose one of the seed phrases. Assuming you haven't saved the master public keys, will you be able to spend your fund if you lose one of the seed phrases? Can you generate your addresses? Note that before signing and broadcasting a transaction, you should create your wallet. |
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May be I don't understand you but I agree with Charles-Tim here. The seeds are what the OP needs to take care.
LoyceV is right. You should keep the master public keys too. If you have a 2 of 3 multi-signature wallet and you have two of seed phrases and nothing else, you won't be able to restore your wallet. As I said in my previous post, if you have seed phrases A and B, you will need the master public key that is derived from the seed phrase C too. |
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I don't understand what you mean, if he saves the 3 seeds he won't need to save also the 3 private keys to be able to sign the transactions because he can already spend from the wallet he accessed with the seeds.
In a 2 of 3 multi-signature wallet, you need two of seed phrases for signing transactions and all three master public keys for generating the wallet. If you save three seed phrases and don't save any of master public keys, you will need all three seed phrases for making any transaction from your wallet and as mentioned by LoyceV, your wallet would be like a 3 of 3 multi-signature wallet. You should save master public keys too, so that you can be able to spend fund even if you lose one of the seed phrases. Assuming you have seed phrases A, B and C, for generating your 2 of 3 multi-signature wallet and spending fund from that, you need: Seed A, Seed B, MPK C or Seed B, Seed C, MPK A or Seed A, Seed C, MPK B (MPK = master public key) |
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but what is the use of that when your IP can be tracked in the second that you send a transaction and therefore have to connect electrum to the internet.
As long as you use a SPV wallet, you have to connect the a server and send your addresses to the server. That's inevitable. Note that even if you use a VPN, your addresses are linked together and that may hurt your privacy. If you want to protect your privacy, you should run your own server. |
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