Can I do anything about my dust?

[PilotofBTC]

I have about .03 of BTC in dust. It's from a cloud miner.

Sadly, not thinking it is all in an HD account that I set up, with a different derivation path than my primary BTC. I wanted to keep it separate so I could keep track of how much was mind.  This means those small output's can't be combined with larger ones when other spends are done, to keep the size down. If I try to send it all to another address, I am told the fees would cost more than I'm sending by coinomi with a .002/kilobyte fee set. I even dropped the fee down to .0014 per 21.co's web site.

So, is there anything I can do to recover/use any amount of this stuff.

I think this is one of the big flaws of Bitcoin also. Is anything being done to address this issue... it really makes bitcoin very bad for micro payments.


 

[Xavofat]

I even dropped the fee down to .0014 per 21.co's web site.

Here's your problem.  You set it to 21.co's fastest recommended fee, which is to get your transaction confirmed in the next block.

If you look on the right, you'll see the estimated delay for each fee that you pay.  Currently, I'm seeing that you can pay 20-60 satoshi/byte and still expect your transaction to confirm in about a day most of the time.

Alternatively, you could set fees of 0.0001 satoshi/kilobyte (10 satoshi/byte) and use ViaBTC's transaction accelerator.  Last time I checked it was a bit clogged so you need to get in your transaction at the start of the hour.

Basically you can easily get your transaction through and keep the vast majority of your money - it'll just take a bit longer.

I think this is one of the big flaws of Bitcoin also. Is anything being done to address this issue... it really makes bitcoin very bad for micro payments.

That's the main application of the Lightning Network IMO.  You can receive micropayments regularly from the cloud miner with very low fees, and then when necessary you can send an onchain transaction to your main wallet (for the security of an onchain transaction).

[Beerwizzard]

I have about .03 of BTC in dust. It's from a cloud miner.

Sadly, not thinking it is all in an HD account that I set up, with a different derivation path than my primary BTC. I wanted to keep it separate so I could keep track of how much was mind.  This means those small output's can't be combined with larger ones when other spends are done, to keep the size down. If I try to send it all to another address, I am told the fees would cost more than I'm sending by coinomi with a .002/kilobyte fee set. I even dropped the fee down to .0014 per 21.co's web site.

So, is there anything I can do to recover/use any amount of this stuff.

I think this is one of the big flaws of Bitcoin also. Is anything being done to address this issue... it really makes bitcoin very bad for micro payments.


 

So you are saying that you got required fee over 0.03 btc? Don't know how to help here but i'm just curious how many incoming transactions do you have? Feels like it was  like thousands transactions from different faucets.

[PilotofBTC]

I have about .03 of BTC in dust. It's from a cloud miner.

Sadly, not thinking it is all in an HD account that I set up, with a different derivation path than my primary BTC. I wanted to keep it separate so I could keep track of how much was mind.  This means those small output's can't be combined with larger ones when other spends are done, to keep the size down. If I try to send it all to another address, I am told the fees would cost more than I'm sending by coinomi with a .002/kilobyte fee set. I even dropped the fee down to .0014 per 21.co's web site.

So, is there anything I can do to recover/use any amount of this stuff.

I think this is one of the big flaws of Bitcoin also. Is anything being done to address this issue... it really makes bitcoin very bad for micro payments.


 

So you are saying that you got required fee over 0.03 btc? Don't know how to help here but i'm just curious how many incoming transactions do you have? Feels like it was  like thousands transactions from different faucets.

The wallet just says "not enough to spend", doesn't tell me what fee it calculated.

There 354 transactions in the address (not sure how many unspent outputs are in there currently I did roll some back in to buy more hash power)). The receives left are all less than .001 many of the newer ones less than .0001.

As I said, they are from a cloud miner (genesis) with daily payouts. Of course, when I first got the contract the payouts were much bigger, but they got smaller and smaller as the difficulty raised and I didn't buy more hash power because I got more btc just from buying it directly.

[PilotofBTC]

If you look on the right, you'll see the estimated delay for each fee that you pay.  Currently, I'm seeing that you can pay 20-60 satoshi/byte and still expect your transaction to confirm in about a day most of the time.

Thanks, I'll try that. There's no hurry to move this, so I can wait a day or so.

[hatshepsut93]

Each output adds 180 bytes of weight to transaction, so if you'll take 1sat/byte as fee (which might get rejected after hanging for some very long time), you'll get a minimum amount that can be moved - 181 satoshi. If you'll use higher fee, you'll have to multiply fee/byte and 180 bytes to get a new minimum amount.
To get the best possible returns out of your dust, you need to wait for a moment when mempool is empty, you can track it here: https://blockchain.info/charts/mempool-size
Recently there was such opportunity during BCH hard fork, and you could have moved your dust just for 1 satoshi per byte. In the future there might be a new opportunity when SegWit will get activated, or before November hard fork.

If you look on the right, you'll see the estimated delay for each fee that you pay.  Currently, I'm seeing that you can pay 20-60 satoshi/byte and still expect your transaction to confirm in about a day most of the time.

Thanks, I'll try that. There's no hurry to move this, so I can wait a day or so.

If you want to get good rate (i.e. extracting 25 mBTC out of 30), you'll have to wait much longer, a few weeks maybe.

[pooya87]

Each output adds 180 bytes of weight to transaction,

180 is true only if his keys are the old version (the uncompressed which old wallets automatically created). now that compressed keys are common each output adds 148 bytes.
https://bitcoin.stackexchange.com/questions/1195/how-to-calculate-transaction-size-before-sending (see its edit)

so if you'll take 1sat/byte as fee

1.5 sat/byte is better

To get the best possible returns out of your dust, you need to wait for a moment when mempool is empty,

you don't need to wait, you can send it anytime and it will stay in the mempool and if dropped out, you just resend it again.

[PilotofBTC]

Not sure what's up. I dropped the fee in coinomi to .0002 and it still tells me not enough for fees. Not sure how it's calculating this.

I tried it with Myclium and at it's low-pri (>150sat/byte) setting it tells me fees will be about 2/3 of the spend.

Is there another bip44 wallet that support derivation account path that lets you set your fee per byte? Perhaps Electrum?

[PilotofBTC]

Hmm... well, I've got the tx sent with electrum with a 50 sat/kbyte fee. It cost $7 to send but worth is rather than paying $75.

(175 inputs, 25862 bytes)

Now to see if/when it gets confirmed.

[Iranus]

Hmm... well, I've got the tx sent with electrum with a 50 sat/kbyte fee. It cost $7 to send but worth is rather than paying $75.

Transaction fees have got a bit higher now, so it's possible it could take longer.

I recommend submitting your transaction to the ViaBTC accelerator at the start of the hour to try and get your transaction in when they mine a block.

Since they've started dedicating a lot of hashrate to BCH, they'll mine less blocks, but you should still give it a try.

[U2]

If you sent it with 5-20 Sats/byte it would eventually confirm. How many inputs are we talking about here? Just send it with a minimal fee and hope that it goes through at some point. It's really no loss if you were never going to send it because it would cost too much to sent anyway.

Edit nvm I see you sent it with 50 sats/byte. That's honestly more than I would have spent but idk, too late now lol. It should confirm within a few hours.

[PilotofBTC]

Hmm... well, I've got the tx sent with electrum with a 50 sat/kbyte fee. It cost $7 to send but worth is rather than paying $75.

Transaction fees have got a bit higher now, so it's possible it could take longer.

I recommend submitting your transaction to the ViaBTC accelerator at the start of the hour to try and get your transaction in when they mine a block.

Since they've started dedicating a lot of hashrate to BCH, they'll mine less blocks, but you should still give it a try.

Tryed to submit, after finally getting the captca right (I hate those) it says fee too low.

So, I guess I'll just wait it out and see what happens.

[jabetizo]

Oh man.  BTC is pushing some of us out.  0.03 doesn't seam like dust. It can buy a few meals in some countries. weird one. I thought fees where under a buck, they just take pretty long.

[PilotofBTC]

Oh man.  BTC is pushing some of us out.  0.03 doesn't seam like dust. It can buy a few meals in some countries. weird one. I thought fees where under a buck, they just take pretty long.

Sure, if it were a .03 output, it wouldn't be a problem.

But, yes, this seems to be a weakness in the bitcoin protocol, especially with the small block sizes.

[PilotofBTC]

it's been 24 hours and 31 minutes. Still not included in a block.

Sigh...

[cpfreeplz]

it's been 24 hours and 31 minutes. Still not included in a block.

Sigh...

It's really not that bad of a fee so it'll go through at some point. If not (which I would honestly be shocked) you could always have your transaction rebroadcast, but I don't think it'll come to that.

[PilotofBTC]

it's been 24 hours and 31 minutes. Still not included in a block.

Sigh...

It's really not that bad of a fee so it'll go through at some point. If not (which I would honestly be shocked) you could always have your transaction rebroadcast, but I don't think it'll come to that.

idk, given how full the blocks are I'm not so sure.

[PilotofBTC]

Except... what's up with this block?

Why was it empty?

https://blockchain.info/block-height/480026

[PilotofBTC]

Yea, it finally confirmed, I think it took 4 days. But, that's fine.

I'm  just thinking, fees would be lower if everyone paid lower fees.

[NorrisK]

Yea, it finally confirmed, I think it took 4 days. But, that's fine.

I'm  just thinking, fees would be lower if everyone paid lower fees.

Wow, didn't expect it to go through actually. Congrats.

Except that most people can't wait 4 days to get their transactions confirmed. The current fees is what it has settled on so far just from offer and demand.