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Author Topic: Bitcoin Electrum Wallet transaction already pending for 16 hours  (Read 251 times)
TeePee
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February 23, 2017, 02:27:18 PM
 #1

Hello,

This is the first time ever this happened to me. My transaction for the amount of 11.693286 BTC is already pending for 16 hours straight now with 0 confirmations. I read on the internet the reason for this might be that the fee is fairly low in comparison to the amount I'm sending (the fee is 0.186 mBTC), but is this really true? Would it cost miners more effort to send a transaction that is higher in amount than a low amount? I can't see the logic.

What should I do and what can I do? Is there somebody who can process this transaction for me? Or should I just wait and it could take how long exactly?
Or is there a way to cancel the transfer? If so, can somebody explain this to me in newbie terms?

Thanks!
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February 23, 2017, 02:34:14 PM
 #2

Yes it is true that the transaction fee matters. The fee is to pay miners for space in a block that they create. They don't care about the value of the transaction, it means nothing to them. All they care about is the size of the transaction and the fee it pays. Typically transactions are selected by their fee rate, the satoshis/byte paid by the transaction.

Your options are to wait for it to confirm, wait for the network to "forget" about the transaction, attempt an RBF double spend transaction, or ask a miner to help you.

For the fourth option, you can contact the users Quickseller and macbook-air. You can also try using https://www.viabtc.com/tools/txaccelerator/ to "accelerate" your transaction.

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