Now I want my transaction to be ignored/discarded... what are my chances?

[bitterbug]

For all the complaints of transactions taking forever to be confirmed, occasionally I'll see my transaction to purchase commodity, X using btc,  unconfirmed for ... let's see about 36 hrs, now. And the price of BTC has gone higher.

So actually, it would be better if the transaction DIDN'T eventually get picked up.... so I can start the transaction over at a rate more favorable to me, the btc holder.

So, what are the chances of the transaction being discarded or cancelled or whatever and the btc being returned? Is that even possible in the Bitcoin network?

Thanks

[mocacinno]

For all the complaints of transactions taking forever to be confirmed, occasionally I'll see my transaction to purchase commodity, X using btc,  unconfirmed for ... let's see about 36 hrs, now. And the price of BTC has gone higher.

So actually, it would be better if the transaction DIDN'T eventually get picked up.... so I can start the transaction over at a rate more favorable to me, the btc holder.

So, what are the chances of the transaction being discarded or cancelled or whatever and the btc being returned? Is that even possible in the Bitcoin network?

Thanks

The default node's setting is to drop an unconfirmed tx from the mempool after 72 hours or when the node reboots.
When most nodes dropped your tx, it'll look like it never happened, and you can reuse the unspent output again (maybe you have to fix your wallet first, and in case of the core wallet, you need to use zapwallettxs or abandontransaction).

[bitterbug]

mocacinno,

How does one 'broadcast the new transaction from a different node'? Does that involve moving the private key to a new wallet?

[mocacinno]

mocacinno,

How does one 'broadcast the new transaction from a different node'? Does that involve moving the private key to a new wallet?

no,

when your wallet creates a transaction (when you send funds), the last (automatic) step is broadcasting the raw, signed transaction to the network. To re-broadcast a transaction, all you need is this signed, raw transaction that was originally created by your wallet... Finding this transaction differs from situation to situation... For example, if the transaction is unconfirmed, and it resides in my node's mempool, you can use this wizard to find the raw, signed transaction:
http://www.mocacinno.com/page/getraw

Just copy an unconfirmed tx's id in the form, and click on "get the raw transaction", and you'll be shown the raw, signed transaction (if the tx in question is in my mempool!!!) which you can rebroadcast with any of the following online wizards:
https://en.bitcoin.it/wiki/Transaction_broadcasting
or you can push it to my node:
http://www.mocacinno.com/page/txpusher

[Wusolini]

For all the complaints of transactions taking forever to be confirmed, occasionally I'll see my transaction to purchase commodity, X using btc,  unconfirmed for ... let's see about 36 hrs, now. And the price of BTC has gone higher.

So actually, it would be better if the transaction DIDN'T eventually get picked up.... so I can start the transaction over at a rate more favorable to me, the btc holder.

So, what are the chances of the transaction being discarded or cancelled or whatever and the btc being returned? Is that even possible in the Bitcoin network?

Thanks

Hey bitterbug, don't you think it is unfair regarding to the trader? I guess you had agreed upon the price before actual BCT sending (question is whether you agreed on price in fiat or BTC) and to me such practice of adjusting the amount according latest price jump is not good. Nobody would ever trade anything because everybody would always complain about (buyers when the price goes up, sellers when the price goes down).

So I think you should contact the seller and inform him prior doing this.
In addition this is mostly your fault ( evidently you have used small fee ) so be a man and accept it as is, unfortunately you spent your BTC in wrong time.

Some wallets ( like electrum) has feature replace-by-fee (you need to activate it prior sending the BTC ... then in case of stuck transaction the wallet will allow you to raise the fee to speed up the transaction. Guess it is too late for this option, just note it for next time.

[bitterbug]

Hey bitterbug, don't you think it is unfair regarding to the trader? I guess you had agreed upon the price before actual BCT sending (question is whether you agreed on price in fiat or BTC) and to me such practice of adjusting the amount according latest price jump is not good. Nobody would ever trade anything because everybody would always complain about (buyers when the price goes up, sellers when the price goes down).

So I think you should contact the seller and inform him prior doing this.
In addition this is mostly your fault ( evidently you have used small fee ) so be a man and accept it as is, unfortunately you spent your BTC in wrong time.

Some wallets ( like electrum) has feature replace-by-fee (you need to activate it prior sending the BTC ... then in case of stuck transaction the wallet will allow you to raise the fee to speed up the transaction. Guess it is too late for this option, just note it for next time.

You raise an interesting point, Wusolini.

But I look at it this way... the agreed price is based on the transaction going through successfully. The buyer of my btc knows full well that certain things could happen before the transaction is confirmed. As do I. It's no secret there is transaction throttling in bitcoin, currently. So it works - or breaks down - both ways.

Thanks for your response and information on electrum.

[bitterbug]

mocacinno,

How does one 'broadcast the new transaction from a different node'? Does that involve moving the private key to a new wallet?

no,

when your wallet creates a transaction (when you send funds), the last (automatic) step is broadcasting the raw, signed transaction to the network. To re-broadcast a transaction, all you need is this signed, raw transaction that was originally created by your wallet... Finding this transaction differs from situation to situation... For example, if the transaction is unconfirmed, and it resides in my node's mempool, you can use this wizard to find the raw, signed transaction:
http://www.mocacinno.com/page/getraw

Just copy an unconfirmed tx's id in the form, and click on "get the raw transaction", and you'll be shown the raw, signed transaction (if the tx in question is in my mempool!!!) which you can rebroadcast with any of the following online wizards:
https://en.bitcoin.it/wiki/Transaction_broadcasting
or you can push it to my node:
http://www.mocacinno.com/page/txpusher

Hi again, mocacinno,

I followed your instructions to re-broadcast one of my stuck transactions.... I copied in my raw trx into one of the wizards, and it came back saying: "Transaction already exists".

So I guess it only makes sense to do this after 72 hrs, then, correct?

[Serellyn]

If the fee is at least 0.0001BTC then use this website to get your transaction confirmed within a few hours. The people who run that site are miners, if your fee is 0.0001BTC or higher then they will include your transaction in the next block that they mine, this shouldn't take long as they mine a few blocks per day.

[pooya87]

If the fee is at least 0.0001BTC then use this website to get your transaction confirmed within a few hours. The people who run that site are miners, if your fee is 0.0001BTC or higher then they will include your transaction in the next block that they mine, this shouldn't take long as they mine a few blocks per day.

the number you said is not transaction fee, it is transaction fee per kilobyte. which means a small transaction (lets say 190 byte) can have a lot less fee for being eligible to be accepted by ViaBtc.
and also a big transaction can need much more than 0.0001BTC fee to be eligible.

[mocacinno]

Hi again, mocacinno,

I followed your instructions to re-broadcast one of my stuck transactions.... I copied in my raw trx into one of the wizards, and it came back saying: "Transaction already exists".

So I guess it only makes sense to do this after 72 hrs, then, correct?

Well, it basically means that my node didn't drop your transaction from it's mempool... But my node is a special case, since i don't use the default mempool settings on my node (i keep transactions for 10 days). This does not mean that other nodes didn't drop your transaction... But usually, it's indeed not usefull to re-broadcast a transaction that has been initially broadcasted less than 3 days ago.

[originalsloth]

From what I understand, just double spend your transaction (generate a new one) but with a higher fee. This should overwrite the other one because miners like to pick up more profits.

[bitterbug]

Eventually the transaction was picked up. It took 5 days. And perhaps a wallet software upgrade had something to do with it, too.

Thanks to all who responded.

[Mike Mayor]

Eventually the transaction was picked up. It took 5 days. And perhaps a wallet software upgrade had something to do with it, too.

Thanks to all who responded.

How many BTC have you been using to pay for the fee ? I used 38k Satoshi and it is taking forever. I left it on indieewlkets medium setting. I think it needs a work through the chain is so congested what is actually going to happen ? It is getting quite bad. Maybe a fee of 0.001btc is enough ?

[mocacinno]

Eventually the transaction was picked up. It took 5 days. And perhaps a wallet software upgrade had something to do with it, too.

Thanks to all who responded.

How many BTC have you been using to pay for the fee ? I used 38k Satoshi and it is taking forever. I left it on indieewlkets medium setting. I think it needs a work through the chain is so congested what is actually going to happen ? It is getting quite bad. Maybe a fee of 0.001btc is enough ?

There is no standard fee... 0.001 BTC might be grossly overpaying if you have a small transactions (1 input, 2 outputs), or grossly underpaying with you have a big transaction (10 inputs, 2 outputs)...

http://www.mocacinno.com/page/feeestimate

1 input, 2 outputs => 0.0005 should result in a 95% chance of getting in the next 3 blocks at the time of writing (so 0.001 would be double of the needed fee)
10 input, 2 outputs => 0.0035 should result in a 95% chance of getting in the next 3 blocks at the time of writing (so 0.001 would be less than 30% of the needed fee)

could you post the tx id?