Transaction reappeared

[Peter S]

Been off-line for 8 months and tried to process a tx only to learn of the low fees issues that are now rampant.  Managed to cancel tx after about a week and the pended tx disappeared.  btc returned.  now a few days later wallet has tried to start the tx over, shows pended.  receiver has cancelled tx on their end.  my next step please?  noob, sorry..

[1715364891]

1715364891

[1715364891]

1715364891

[1715364891]

1715364891

[1715364891]

1715364891

[Quartx]

Could you give us the relevant addresses and transaction in particular.

Sometimes this happens if txes get dropped of the global mempool but somehow is still in the mempool of the electrum server you are connected to.

Could it also be that it is a new tx?

[Peter S]

definitely not a new tx
6d0927409f7f3850bb2f917ebe2f39d0f109dcaf9e84b7c1c365cee70208b650

[Quartx]

definitely not a new tx
6d0927409f7f3850bb2f917ebe2f39d0f109dcaf9e84b7c1c365cee70208b650

https://www.blocktrail.com/BTC/tx/6d0927409f7f3850bb2f917ebe2f39d0f109dcaf9e84b7c1c365cee70208b650
https://blockchain.info/tx/6d0927409f7f3850bb2f917ebe2f39d0f109dcaf9e84b7c1c365cee70208b650

Seems like your transaction never dropped of the mempool because some nodes are somehow still relaying it. Is it not possible for you to do a Child pay for parents tx with higher fees?

There are some people who will suggest to you to restore your wallet using your seed words which should clear any unconfirmed txes but i doubt it will work as the server you are connected to will replay the unconfirmed tx back to you anyways as it is in the mempool

[Peter S]

input >

99ba62c5...de90d1f7:0    1BXEgGveYySEvgwQfx9mTjXd3PJqaExVk9


outputs >  (mine is the first one)

3Cq3ErAr5Y8qeiA41wfoynJ9pa7MA7zkxt                  37.48  
12oASy8Gxs64f4wEedy5NZGZGS2ZZt7Q8t         115.57675

[Peter S]

not interested in completing tx as receiver has cancelled on their end

also not interested in restoring wallet, seen bad things happen and I believe, as you, that it will not restore anything.

are you saying my best bet is to wait it out?


Also, what is the settings in preferences I should have to ensure a tx gets confirmations, have 2.5.4 version  >>
dynamic fees vs set tx fees manually

[Quartx]

Hi Peter S, I think you are confused how this works.

You see when someone askes for payment using bitcoin, and payment is sent to him , as in a transaction has been created in the mempool and relayed to the receiving party, the only way to "cancel" a payment using bitcoin is if the transaction has too little fees and drop off the mempool, or in the case of a double spend, if the double spent tx is confirmed and mined before the first one, in which case the first one "is cancelled" as the 2nd tx is now the authoritative ones.

When you make a purchase or something using bitcoin and the other party says they have cancelled the payment after you have sent a transaction. It means that they will refund you bitcoins to your address if it somehow gets confirmed in a block.

i think it is high time you update your electrum client, we are now at 2.8.2 with a lot of fixes and improvements

https://electrum.org/#download

In the latest version, you should be able to enable Child Pays for Parents transactions in settings (it might be enabled by default), in which case if similar cases happen you can bump up fees with another transaction with higher fees to do what we call paying fees for parent tx also.

You can also enable dynamic fees in which a slider would appear when sending txes, according to how fast you want your tx to confirm. Although I strongly suggest using https://bitcoinfees.21.co/ to check the cheapest fees at any time to get confirmed quickly.

Personal thoughts, I have been using 320 sats/byte fees for a month or so and they seem to be confirmed within 5 mins to an hour.

Chances are until the segwit with 2MB hard fork is released, the mempool congestion should continue for quite awhile.

[pooya87]

in summary the only choice you have is to spend this transaction output (99ba62c5ea8e2f8a7ad8389d92455ad3c51f30fc674fd2f86fd6c76dde90d1f7) choose one of your own bitcoin addresses, and spend this by sending all of the funds 0.15316875BTC to that address and make sure to pay 360 satoshi per byte fee.
your transaction size will probably be 196 bytes which makes the fee about 70,000 satoshi.

you can also make a raw unsigned transaction and sign it with the wallet if it doesn't allow you to spend the funds.

[Quartx]

in summary the only choice you have is to spend this transaction output (99ba62c5ea8e2f8a7ad8389d92455ad3c51f30fc674fd2f86fd6c76dde90d1f7) choose one of your own bitcoin addresses, and spend this by sending all of the funds 0.15316875BTC to that address and make sure to pay 360 satoshi per byte fee.
your transaction size will probably be 196 bytes which makes the fee about 70,000 satoshi.

you can also make a raw unsigned transaction and sign it with the wallet if it doesn't allow you to spend the funds.

pooya that is NOT his only choice. Please refrain from giving absolute answers unless you are absolutely sure that is the only option.

He can still wait for his transaction to drop out of the mempool.

In addition, it would be nice if you did not jump to conclusions. OP already stated the receiving party "cancelled" his payment which probably means the receiving party no longer wants this payment.

With regards to the 360 sats/byte, be advised that that is not the definitive fee to get your tx mined in the next block, the recommended fees changes every transaction. Use https://bitcoinfees.21.co/ for more concrete values.

[pooya87]

in summary the only choice you have is to spend this transaction output (99ba62c5ea8e2f8a7ad8389d92455ad3c51f30fc674fd2f86fd6c76dde90d1f7) choose one of your own bitcoin addresses, and spend this by sending all of the funds 0.15316875BTC to that address and make sure to pay 360 satoshi per byte fee.
your transaction size will probably be 196 bytes which makes the fee about 70,000 satoshi.

you can also make a raw unsigned transaction and sign it with the wallet if it doesn't allow you to spend the funds.

pooya that is NOT his only choice. Please refrain from giving absolute answers unless you are absolutely sure that is the only option.

He can still wait for his transaction to drop out of the mempool.

In addition, it would be nice if you did not jump to conclusions. OP already stated the receiving party "cancelled" his payment which probably means the receiving party no longer wants this payment.

With regards to the 360 sats/byte, be advised that that is not the definitive fee to get your tx mined in the next block, the recommended fees changes every transaction. Use https://bitcoinfees.21.co/ for more concrete values.

when the other party no longer wants that payment (canceled the deal) that means the only option is to double spend the funds to another address that OP controls otherwise he is going to be in a lot of trouble to contact the other party and ask them to pay back the payment (which will cost another fee) or honor the deal despite cancelling it before, as he has to do now since the transaction is confirmed.

you are correct about amount of fee though.