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Author Topic: Transaction with very low fees  (Read 252 times)
i_love_rain
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October 30, 2017, 03:28:22 AM
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I sent about couple bitcoin cash from Electrum wallet to an exchange today and I didn't realize the fees was terribly low, only 0.009 mbit until i sent it. Of course i didn't mean to pay such a low fee but the wallet didn't show the fees; the fee slider was in the middle position and i assumed it's paying an average fee...

Anyway, since the fee is so low, what will happen? Is it possible nobody will mine my transaction and i lost my coins? Is there anything i can do?

thanks all!
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October 30, 2017, 10:53:38 AM
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I believe there is a way out of this. Usually you can just wait it out, but if it takes a substantial amount of time then you may have to take matters into your own hands. If you resend the transaction it will act as a double send and bring the money back to your account. I'm not entirely sure what this is or how to do it. There are some pages on google you can look up or other members on here who may help you out. Whatever, you do, don't worry your coins are not lost.

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October 30, 2017, 02:47:38 PM
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Bitcoin's transaction fees is very low than credit/debit cards. As there is no middle man this one is one of the reason of lower transaction fees.
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October 30, 2017, 02:50:29 PM
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Your transaction will still go through. It will take some time, especially the confirmations. I recommend viaBTC accelerator as a boost to confirm your transaction.
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October 30, 2017, 02:53:02 PM
 #5

Bitcoin's transaction fees is very low than credit/debit cards. As there is no middle man this one is one of the reason of lower transaction fees.
Read more carefull before posting. First off all, OP sent Bitcoin Cash, not Bitcoin. Secondly, he isn't talking about low transaction fees. He just sent Bitcoin Cash and set too low fees, so it can take much more time to get comfirmations for transaction.

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October 30, 2017, 03:08:31 PM
 #6

I sent about couple bitcoin cash from Electrum wallet to an exchange today and I didn't realize the fees was terribly low, only 0.009 mbit until i sent it. Of course i didn't mean to pay such a low fee but the wallet didn't show the fees; the fee slider was in the middle position and i assumed it's paying an average fee...

Anyway, since the fee is so low, what will happen? Is it possible nobody will mine my transaction and i lost my coins? Is there anything i can do?

thanks all!

All hope is not lost as your bitcoin is very much available in the blockchian so you have two options which are

1. Wait till forever, so that it will confirm or return back to your wallet eventually or

2. Try the accelerations services. Some are paid some are free but trying it out will show whether you will pay or not.

https://bitcointalk.org/index.php?topic=2256407.0

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October 30, 2017, 03:10:29 PM
 #7

Bitcoin's transaction fees is very low than credit/debit cards. As there is no middle man this one is one of the reason of lower transaction fees.
Read more carefull before posting. First off all, OP sent Bitcoin Cash, not Bitcoin. Secondly, he isn't talking about low transaction fees. He just sent Bitcoin Cash and set too low fees, so it can take much more time to get comfirmations for transaction.

why would bitcoin cash with lower fee take much longer time to confirm? the Bitcoin Cash blocks are all empty, and i mean really empty as in not having more than 10-12 transactions, so why would it take longer to confirm?
usually altcoins like BCH with empty blocks will have some miner picking up transactions even with low fees!


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13abyknight
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October 30, 2017, 03:19:28 PM
 #8

Bitcoin's transaction fees is very low than credit/debit cards. As there is no middle man this one is one of the reason of lower transaction fees.

What are you on about? Take time to read the post instead of randomly commenting nonsense to increase your post count.

I sent about couple bitcoin cash from Electrum wallet to an exchange today and I didn't realize the fees was terribly low, only 0.009 mbit until i sent it. Of course i didn't mean to pay such a low fee but the wallet didn't show the fees; the fee slider was in the middle position and i assumed it's paying an average fee...

Anyway, since the fee is so low, what will happen? Is it possible nobody will mine my transaction and i lost my coins? Is there anything i can do?

thanks all!

You need to have the patience and fortune for a miner to pick your transaction and include it in a block and they always prefer to pick transactions with higher fees first for an obvious reason. You will not lose your coins as the transaction will continue to remain in the mempool until mined and included in a block.


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Why0kay
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October 30, 2017, 03:20:55 PM
 #9

I sent about couple bitcoin cash from Electrum wallet to an exchange today and I didn't realize the fees was terribly low, only 0.009 mbit until i sent it. Of course i didn't mean to pay such a low fee but the wallet didn't show the fees; the fee slider was in the middle position and i assumed it's paying an average fee...

Anyway, since the fee is so low, what will happen? Is it possible nobody will mine my transaction and i lost my coins? Is there anything i can do?

thanks all!
i_love_rain
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October 31, 2017, 05:11:55 PM
 #10

Finally I got a few confirmations. Even though the exchange requires 20 confirmations, i think it is getting there.
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October 31, 2017, 07:38:42 PM
 #11

Finally I got a few confirmations. Even though the exchange requires 20 confirmations, i think it is getting there.
Next time you can try accelerators, like the above mentioned ViaBTC.
https://pool.viabtc.com/tools/txaccelerator/
You can try to include your transaction into the accelerated ones every full hour, in the first few seconds. If it doesn't let you accelerate, never mind, try next full hour.

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October 31, 2017, 08:56:36 PM
 #12

I sent about couple bitcoin cash from Electrum wallet to an exchange today and I didn't realize the fees was terribly low, only 0.009 mbit until i sent it. Of course i didn't mean to pay such a low fee but the wallet didn't show the fees; the fee slider was in the middle position and i assumed it's paying an average fee...

Anyway, since the fee is so low, what will happen? Is it possible nobody will mine my transaction and i lost my coins? Is there anything i can do?

thanks all!
Are you sure you are telling that you send bitcoin cash from an Electrum wallet to an exchange,because Electrum wallet does not support bitcoin cash and if you are talking about Electron cash wallet ,you have to wait for a longer period with such a low fees and if it is not accepted then it will be returned to your wallet after a certain period.I think you could resend the transaction with more fees with bitcoin cash too if you think that the fees is low,just google it whether it is possible.














 

 

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i_love_rain
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November 03, 2017, 03:00:00 AM
 #13

I sent about couple bitcoin cash from Electrum wallet to an exchange today and I didn't realize the fees was terribly low, only 0.009 mbit until i sent it. Of course i didn't mean to pay such a low fee but the wallet didn't show the fees; the fee slider was in the middle position and i assumed it's paying an average fee...

Anyway, since the fee is so low, what will happen? Is it possible nobody will mine my transaction and i lost my coins? Is there anything i can do?

thanks all!
Are you sure you are telling that you send bitcoin cash from an Electrum wallet to an exchange,because Electrum wallet does not support bitcoin cash and if you are talking about Electron cash wallet ,you have to wait for a longer period with such a low fees and if it is not accepted then it will be returned to your wallet after a certain period.I think you could resend the transaction with more fees with bitcoin cash too if you think that the fees is low,just google it whether it is possible.

Thanks. I meant Electron cash actually. It went through after almost two days.
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November 03, 2017, 03:18:47 AM
 #14

I sent about couple bitcoin cash from Electrum wallet to an exchange today and I didn't realize the fees was terribly low, only 0.009 mbit until i sent it. Of course i didn't mean to pay such a low fee but the wallet didn't show the fees; the fee slider was in the middle position and i assumed it's paying an average fee...

Anyway, since the fee is so low, what will happen? Is it possible nobody will mine my transaction and i lost my coins? Is there anything i can do?

thanks all!

this happens like, 3 times a minute on this forum (welcome to the forum, btw). long story short; your coins are not lost. you wont have access to them for a nice chunk of time, so there may be some opportunity cost in that wait (like if you need to pay a bill, or you were moving it to speculate on the price). essentially, it will pend until the network decongests enough that your cheapskate bid for a transaction gets accepted into a block  Cheesy if no one accepts it after a considerable time, then it will drop out of the mempool and it will be like it never happened.

but the coins will eventually end up were you sent them (hope this wasnt a time sensitive address), or they never moved in the first place.

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November 03, 2017, 03:25:20 AM
 #15

The speed of bitcoin transaction depends on the fee the you are going to pay. Because you paid low fee i assume that your transaction will take longer than usual.  It happens to everyone so i don't think much about it.

   
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November 03, 2017, 03:36:54 AM
 #16

No, if the fee is too low, it will only be able to package the transaction and will not be lost if returned.

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