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Author Topic: Weird CPFP Transaction, please help.  (Read 98 times)
barbkidd
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December 07, 2017, 08:13:09 PM
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Hello ppl, i have just made a BTC Transaction > d0de50d44eb26d258fa25d9fa4582f41c48be799617ec706df30350991fc5d49
After 2 Hours of the transaction not beeing completed even tho it was within 25 Blocks i clicked on " Parent pays for child " in electrum for the transaction above

Then a new window opened and i just entered a random (stupid i know) but a bit higher fee, i thought that would speed up my transaction. ( the one above in post )
But it just created a new weird Transaction > 55bd0aefe50c6194deabc3ca0a4fdad76e1419569301c002ed47506fe549adf1

What is this transaction for?
What will happen with it now and when can i expect the first transaction to be completed, or is it stuck in the loop ?


I'm a complete noob to this so please don`t mind the stupid questions
im happy for any help

best regards,


#edit: i`ve also heard of some transaction boosting services, would be thankful if anyone could name one
Just found one but they are asking 140€ for boosting a 30€ transaction wtf, nvm that than i guess they are all that expensive


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buwaytress
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December 07, 2017, 08:35:55 PM
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I think you meant, Child pays for parent (not other way around as you wrote!). Hence your CPFP acronym... Anyway, not to worry.

What you essentially did is you've told miners that your second tx (the newer one you just made) will also carry enough fees to pay for the first one. If a miner feels that the CPFP tx is suitably funded with enough fees, it will pick up BOTH transactions and include it in the next block they find. So basically, both will confirm at the same time.

You can find acceleration services in the Services section: https://bitcointalk.org/index.php?board=52.0

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December 08, 2017, 02:00:47 AM
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Unfortunately... your attempt at a CPFP is probably NOT going to work...

There are currently 170,000+ unconfirmed transactions... the surge in price of BTC has resulted in literally tens of thousands of transactions being added to the network as everyone starts trying to buy in or cash out... Undecided

Anyway, getting back to your transactions... the reason your FIRST transaction (d0de50d44eb26d258fa25d9fa4582f41c48be799617ec706df30350991fc5d49) was not confirming... was that, aside from the low fee, it is spending from a previous unconfirmed transaction (0075695b1b46aba281c437df474849505b1fff273352e7a561b734180f54d3ba)... until that earlier transaction confirms, your first transaction cannot confirm...

That earlier transaction only has a fee of ~89 sats/byte... current fees are in the 350-400+ sats/byte range... Undecided

Your CPFP transaction (55bd0aefe50c6194deabc3ca0a4fdad76e1419569301c002ed47506fe549adf1) pays a fee of ~265 sats/byte... and is 192 bytes = fee of 0.0005016 BTC

The earlier two transactions have fees of 0.0002 and 0.0004068 and are 225 bytes and 226 bytes respectively... this gives us the following maths:

Total Size of all three transactions = 225+226+192 = 643 bytes
Total fees of all three transactions = 0.0002+0.004068+0.0005016 = 0.0011084 btc

"Averaged" fee for all three transactions = 110840 sats / 643 bytes = 172 sats/byte which is less than HALF of what is required for quick confirmation (ref: https://bitcoinfees.earn.com/ and https://btc.com/stats/unconfirmed-tx)...


TL;DR: your wait time is going to be VERY long Undecided

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