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Author Topic: Pay once more, if fee was to low  (Read 501 times)
Maum
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August 27, 2017, 09:10:23 PM
 #1

As I understood it is called child payment. So if one sent bitcoin with low fee and wallet doesn't support to higher the fee, he could send same amount again with higher fee, right?
Where does he send? To his own wallet adress or to the adress he sent before?
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August 27, 2017, 11:33:28 PM
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I guess you are talking about CPFP (Child Pays for Parent) CPFP is a transaction that somewhat "speeds up" your transaction even though it has been sent and the fee wasn't enough for it to get confirmed. What it is is that basically, you send some amount with a lot higher fee to your address which generates an unconfirmed TX, but will be confirmed because of the higher fee, therefore confirming the other TX.

To do a Child-Pays-For-Parent transaction, you need to find out the "ideal" fee. 21.Co is a good place to look at (http://bitcoinfees.21.co/) and after that; You can use mocacinno's fee checker and CPFP tool here; https://www.mocacinno.com/page/feechecker which explains everything in detail.

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August 28, 2017, 05:26:34 AM
 #3

I guess you are talking about CPFP (Child Pays for Parent) CPFP is a transaction that somewhat "speeds up" your transaction even though it has been sent and the fee wasn't enough for it to get confirmed. What it is is that basically, you send some amount with a lot higher fee to your address which generates an unconfirmed TX, but will be confirmed because of the higher fee, therefore confirming the other TX.

To do a Child-Pays-For-Parent transaction, you need to find out the "ideal" fee. 21.Co is a good place to look at (http://bitcoinfees.21.co/) and after that; You can use mocacinno's fee checker and CPFP tool here; https://www.mocacinno.com/page/feechecker which explains everything in detail.

Thank you for your useful informations. I also need to know, where to send the second payment. Do I send this to my own wallet address or once more to the adress where I sent it before? You wrote "you send some amount with a lot higher fee to your adress", so it is to my own adress, write?
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August 28, 2017, 06:06:03 AM
 #4

I guess you are talking about CPFP (Child Pays for Parent) CPFP is a transaction that somewhat "speeds up" your transaction even though it has been sent and the fee wasn't enough for it to get confirmed. What it is is that basically, you send some amount with a lot higher fee to your address which generates an unconfirmed TX, but will be confirmed because of the higher fee, therefore confirming the other TX.

To do a Child-Pays-For-Parent transaction, you need to find out the "ideal" fee. 21.Co is a good place to look at (http://bitcoinfees.21.co/) and after that; You can use mocacinno's fee checker and CPFP tool here; https://www.mocacinno.com/page/feechecker which explains everything in detail.

Thank you for your useful informations. I also need to know, where to send the second payment. Do I send this to my own wallet address or once more to the adress where I sent it before? You wrote "you send some amount with a lot higher fee to your adress", so it is to my own adress, write?

Check out Mocacinno's web page, insert your transaction hash there and it will give you some more information. Just scroll down, try to click the CPFP page and you'll be presented with a raw transaction hash, using one of the wallets Mocacinno mentions on the page, broadcast the transaction and you will be able to make a somewhat "alternate" transaction to your address with a higher fee.

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aleksej996
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August 28, 2017, 09:49:04 AM
 #5

You can only use CPFP if you own an address bitcoins are being sent to in the first place.
So any address X sends to address Y that is owned by you and you can use CPFP.
CPFP is when that X->Y transactions is unconfirmed because it has a low fee and you make another transactions Y->Z that has high enough fee for both of them (fees depend on the transaction sizes, so you need to sum the size of both new and old transaction and make a fee on that). After that miners will deal with both transactions together, they will accept X->Y transaction and Y->Z transaction. Z can be any address, but it should be your address, since those coins from X will end up in Z.

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Maum
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August 28, 2017, 12:57:17 PM
 #6

Great, many thanks, guys. So I needn't worry about any failed transaction anymore. Wondering about accelerator services, who take much much money, that they are still in business. Everyone could accelerate himself, if he is willing to pay.
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August 28, 2017, 08:29:03 PM
 #7

I guess you are talking about CPFP (Child Pays for Parent) CPFP is a transaction that somewhat "speeds up" your transaction even though it has been sent and the fee wasn't enough for it to get confirmed. What it is is that basically, you send some amount with a lot higher fee to your address which generates an unconfirmed TX, but will be confirmed because of the higher fee, therefore confirming the other TX.

To do a Child-Pays-For-Parent transaction, you need to find out the "ideal" fee. 21.Co is a good place to look at (http://bitcoinfees.21.co/) and after that; You can use mocacinno's fee checker and CPFP tool here; https://www.mocacinno.com/page/feechecker which explains everything in detail.

thx a lot for answer and sites, man!



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