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Author Topic: Very low tx fee didn't received money  (Read 514 times)
DigiSoul
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May 18, 2017, 08:44:14 AM
 #1

Hey guyz..

I've to receive payment from a guy. .he sent me 0.0025BTC but he used a very low tx fee (0.000013BTC instead of 0.0006BTC) and i opened my wallet, i can't even see that i've received btc. But he is saying that he had already sent but used low tx fee. And sent me a screenshot .

What will happen now? I mean will i receive my payment or it will back to him? Though bitcoin tx has no chargeback but Its 2 days passed and still i've not received.

I'm sure he won't pay me again. Lol

Regards
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mocacinno
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May 18, 2017, 08:44:50 AM
 #2

Hey guyz..

I've to receive payment from a guy. .he sent me 0.1BTC but he used a very low tx fee (0.000013BTC instead of 0.0006BTC) and i opened my wallet, i can't even see that i've received btc. But he is saying that he had already sent but used low tx fee. And sent me a screenshot .

What will happen now? I mean will i receive my payment or it will back to him?

I'm sure he won't pay me again. Lol

Regards

could you post the tx id?
Unless there is something wrong with the transaction, i guess allmost all wallets will show an unconfirmed transaction, the fact that you don't see this indicates there could be something wrong.
If the transaction doesn't get confirmed in a couple of days, nodes will start dropping it from their mempool, and the sender is free to re-use the inputs, creating a double spend, and possibly voiding your unconfirmed transaction.

I hope you didn't already send the goods or services this guy payed you for?

DigiSoul
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May 18, 2017, 08:51:23 AM
 #3

Hey guyz..

I've to receive payment from a guy. .he sent me 0.1BTC but he used a very low tx fee (0.000013BTC instead of 0.0006BTC) and i opened my wallet, i can't even see that i've received btc. But he is saying that he had already sent but used low tx fee. And sent me a screenshot .

What will happen now? I mean will i receive my payment or it will back to him?

I'm sure he won't pay me again. Lol

Regards

could you post the tx id?
Unless there is something wrong with the transaction, i guess allmost all wallets will show an unconfirmed transaction, the fact that you don't see this indicates there could be something wrong.
If the transaction doesn't get confirmed in a couple of days, nodes will start dropping it from their mempool, and the sender is free to re-use the inputs, creating a double spend, and possibly voiding your unconfirmed transaction.

I hope you didn't already send the goods or services this guy payed you for?
Here's the tx id,

https://blockchain.info/tx/6087f40a5d456a7c893508cd23e3c6fc12a39213d642b3337abd1769cdb5a9c7

We had a deal, i asked him to pay first, but i've not received it, so how can i send him the goods for that? I'm waiting for tx to confirm so i can send him goods.
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May 18, 2017, 08:52:27 AM
 #4

If you consider this: Fee per byte   3.888 sat/B, it is likely that this transaction will never confirm.

We had a deal, i asked him to pay first, but i've not received it, so how can i send him the goods for that?
Don't.


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DigiSoul
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May 18, 2017, 08:55:51 AM
 #5

If you consider this: Fee per byte   3.888 sat/B, it is likely that this transaction will never confirm.

We had a deal, i asked him to pay first, but i've not received it, so how can i send him the goods for that?
Don't.
Yup, i asked him to send back btc but he says to wait for tx to get confirmed
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May 18, 2017, 08:58:44 AM
 #6

Yup, i asked him to send back btc but he says to wait for tx to get confirmed
It may take up to ~14 days before the network "drops" this transaction. In that case, the money will be returned to the sender.

This is really irresponsible use of Bitcoin, i.e. setting such an absurd fee-rate.


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DigiSoul
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May 18, 2017, 09:01:24 AM
 #7

Yup, i asked him to send back btc but he says to wait for tx to get confirmed
It may take up to ~14 days before the network "drops" this transaction. In that case, the money will be returned to the sender.

This is really irresponsible use of Bitcoin, i.e. setting such an absurd fee-rate.
very true.. Thats only 5$, so i'm just not paying any heed to it. But such tx fee .. I mean who set so low tx fee.. Lol
RamBahadur.Gurung
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May 18, 2017, 11:31:53 AM
 #8

After a few days, the coins will be transferred back to the sender. You need to ask him to resend the coins, perhaps with a higher transaction fees next time. You need to pay a minimum of around BTC0.001 to get this confirmed. 

mocacinno
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May 18, 2017, 11:35:10 AM
 #9

After a few days, the coins will be transferred back to the sender. You need to ask him to resend the coins, perhaps with a higher transaction fees next time. You need to pay a minimum of around BTC0.001 to get this confirmed.  
You are correct, for future reference, here is the complete calculation on how this 0.001BTC fee is calculated

the transaction size is 339 bytes, the current optimal fee for a 95% chance of getting into the next 3 blocks is 353 sat/byte (according to my node)
339 bytes x 353 sat/byte = 119667 satoshi's = 0.00119667 BTC
So, a 0.001BTC fee would be a tid bit lower than the optimal fee, but it would still be sufficient to get into a block in less than an hour (with odds of 95%).


This is about the fee my fee estimator estimates at the time of writing when using option 2 with 2 inputs and 1 output:
http://www.mocacinno.com/page/feeestimate
So if you want, you can use this tool next time you need to estimate an appropriate fee Wink

DigiSoul
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May 20, 2017, 05:35:36 PM
 #10

After a few days, the coins will be transferred back to the sender. You need to ask him to resend the coins, perhaps with a higher transaction fees next time. You need to pay a minimum of around BTC0.001 to get this confirmed.  
You are correct, for future reference, here is the complete calculation on how this 0.001BTC fee is calculated

the transaction size is 339 bytes, the current optimal fee for a 95% chance of getting into the next 3 blocks is 353 sat/byte (according to my node)
339 bytes x 353 sat/byte = 119667 satoshi's = 0.00119667 BTC
So, a 0.001BTC fee would be a tid bit lower than the optimal fee, but it would still be sufficient to get into a block in less than an hour (with odds of 95%).


This is about the fee my fee estimator estimates at the time of writing when using option 2 with 2 inputs and 1 output:
http://www.mocacinno.com/page/feeestimate
So if you want, you can use this tool next time you need to estimate an appropriate fee Wink
thanks for this bro .. Smiley very helpful
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