ServiceI'm offering this service to pay for a developers bounty on CPFP (not for my own profit).
Why?I have seen a number of threads from people complaining about unconfirmed transactions. There is a way to pull these transactions out of the mempool with a degree of technical skill. I'm willing to put my effort to work to craft the proper transaction to pull these unconfirmed transactions out of the mempool. The cost for this is based on the unconfirmed transaction size, but will start at 3 mBTC (0.003 BTC). All proceeds will be paid into the bounty to have CPFP integrated into one of the major wallets. Basic process follows.
Disclaimer:Users of this service will be required to sign the provided transaction. On some wallet applications this is strait forward, on other wallet applications it is not. I'll help out however I can, but I will not sign the CPFP transaction, nor will I accept any private keys to do this. Please keep your private keys private.
Minimum Donation Schedule____TX_Size____ | ____Min_Donation____ |
<1 KB - 5 KB | 3 mBTC |
>5 KB - 10 KB | 4 mBTC |
>10 KB - 15 KB | 5 mBTC |
Turn around timeAbout what you would expect from a volunteer. I should be making transactions once a day, then send them back to you to sign. I'll probably code the transactions between 01:00 UTC and 05:00 UTC, but no guarantees. Once you sign the transaction you (or I) can submit it to the Eligius pool who will be doing the block. They usually get about one block every 5 hours.
Contribute to the CPFP bounty anywayIf you would just like to see some client wallet implement a "Rescue Transaction" button using CPFP, feel free to the CPFP address. Every mBTC helps...
What is Child Pays for Parent (CPFP)I tried to explain it
here before I knew what it was.
Transactions in bitcoin are actually chained together. Each transaction has an input and output. New input links to old output. So lets call the transaction you want to rescue the "parent". To employ a CPFP rescue attempt, we create a new transaction ("child") that spends (links to) the parents outputs. This new child transaction will be coded with generous fees. When a CPFP miner like Eligius sees the pair of transactions, they are scooped up and included in the block. So adding the high fee "child" transaction pulls the "parent" out of the mempool.
Sign me up!!If have a transaction that is stuck that you want to rescue, here is how you proceed.
- Post to this thread that you need a rescue.
- Provide your transaction ID (either in your post, or in a PM to me)
- Declare how much you want to contribute to the CPFP bounty (either in your post or via PM)
- I'll take the transaction info and generated a raw transaction and send it to you via PM
- Inspect the transaction with the transaction decoder to ensure your comfort
- Verify that you see your address, the donation address, and the TX you are rescuing in the decode.
- Sign the transaction with your bitcoin client, or any other method you choose
- Either submit the transaction yourself, or PM me and I'll send it for you
What is a raw transaction, and how do I sign it?I'll post a HowTo below to discuss how to sign raw transactions on various clients.
Is this a scam?No... the "rescue transaction" will have the donation in it. Your donation only goes through if the rescue works. The donation address is also a 2-3 multisig address, so I can't unlock the funds myself.
Wait... where's the donation address?I'm gathering some info to generate it shortly... stay tuned... for now just let me know if you need help, I'll work the rest out with you shortly.