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Author Topic: How to use coin control and actually send my BTC in a reasonable amount of time?  (Read 50 times)
fonestar
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December 21, 2017, 02:49:50 PM
 #1

So unbeknownst to me I (the user) am now responsible for determining how my QT wallet makes change and sends Bitcoin in a reasonable amount of time?

I want to send Bitcoin and get my funds out of this non-scaling mess before the unconfirmed TX problem gets even worse. 

* How do I know what sat/bytes to include currently in this bidding war to send BTC?
* When I go into coin control, why is it telling me I do not have sufficient funds when I select 3 outputs?  I do have sufficient funds!!
* Do I have to select the same address multiple times under coin control?

I just want to get my coins to the Exchange and out of this log jam.  And I want to do it today.  That's all I want to do.

Thanks.
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ranochigo
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December 21, 2017, 03:09:49 PM
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So unbeknownst to me I (the user) am now responsible for determining how my QT wallet makes change and sends Bitcoin in a reasonable amount of time?
You don't. Core estimates this pretty well.
* How do I know what sat/bytes to include currently in this bidding war to send BTC?
You can estimate it using an online tool, bitcoinfees.earn.com. To be honest, I would say Core's estimation is relatively good.
* When I go into coin control, why is it telling me I do not have sufficient funds when I select 3 outputs?  I do have sufficient funds!!
The amount that you are sending excludes the transaction fee. Press "Subtract fees from amount" and it should be solved. For the fee estimate, press choose in the transaction fee column and press estimate and select your flavour.
* Do I have to select the same address multiple times under coin control?
How many inputs do you have? You have to select each inputs individually.

fonestar
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December 21, 2017, 03:18:55 PM
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So unbeknownst to me I (the user) am now responsible for determining how my QT wallet makes change and sends Bitcoin in a reasonable amount of time?
You don't. Core estimates this pretty well.
* How do I know what sat/bytes to include currently in this bidding war to send BTC?
You can estimate it using an online tool, bitcoinfees.earn.com. To be honest, I would say Core's estimation is relatively good.
* When I go into coin control, why is it telling me I do not have sufficient funds when I select 3 outputs?  I do have sufficient funds!!
The amount that you are sending excludes the transaction fee. Press "Subtract fees from amount" and it should be solved. For the fee estimate, press choose in the transaction fee column and press estimate and select your flavour.
* Do I have to select the same address multiple times under coin control?
How many inputs do you have? You have to select each inputs individually.


Hi... So maybe I misunderstood the reply to my other post?  Is it better to have fewer addresses selected for inputs under coin control?  Why should it matter if I am using 3 inputs or 16?  Is a miner less inclined to pick up my transmission if I am using 16 inputs under coin control?  I noticed that some of my transactions went through and confirmed in a somewhat reasonable amount of time (well under a day anyway) when it involved 3 addresses at blockchain.info, yet the ones that were left unconfirmed had around 12 - 16 addresses involved.
ranochigo
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December 21, 2017, 03:32:14 PM
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Hi... So maybe I misunderstood the reply to my other post?  Is it better to have fewer addresses selected for inputs under coin control?  Why should it matter if I am using 3 inputs or 16?  Is a miner less inclined to pick up my transmission if I am using 16 inputs under coin control?  I noticed that some of my transactions went through and confirmed in a somewhat reasonable amount of time (well under a day anyway) when it involved 3 addresses at blockchain.info, yet the ones that were left unconfirmed had around 12 - 16 addresses involved.
Number of addresses doesn't matter at all. You can use hundred addresses in a transaction and it could confirm faster than another that has only a single address.

In Bitcoin, the main factor that matters is the number of inputs. If you were to send from a single address with a few hundred inputs, it would confirm slower than a transaction with 100 inputs and from 100 addresses. If you have more inputs, the size of the transaction itself would definitely be bigger. The only thing that matters to the miner is the fees/byte. With more inputs, the size would be bigger.

The trend that you observed is also the same as what I've said. The more addresses you use, the more inputs you will have. However, the converse might not be true at times; a single address could have thousands of inputs.

Tl;dr: Miners care about fees/byte.

fonestar
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December 21, 2017, 04:06:51 PM
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Okay... well that's basically what I thought.  What it should come down to is how much the miner is getting payed.

But here's the thing...  When I try to increase the sat/byte for TX to prioritize my transaction it is getting treated like spam instead.  Totally ignored with 0 confirmations after waiting days.  Other (smaller) transactions I have sent with the recommended sat/byte are going through.

So if all this is true, and Core-QT is so smart, and knows the right amount of sat/bytes... and I try to go higher than that...  why is this happening??
ranochigo
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December 22, 2017, 05:26:32 PM
 #6

Okay... well that's basically what I thought.  What it should come down to is how much the miner is getting payed.

But here's the thing...  When I try to increase the sat/byte for TX to prioritize my transaction it is getting treated like spam instead.  Totally ignored with 0 confirmations after waiting days.  Other (smaller) transactions I have sent with the recommended sat/byte are going through.
Did you spend them at the same time? There is a myriad of factors that can affect the time it takes for the transaction to confirm; fees is the main thing. With that, the whole thing about transaction confirmation is the competition. It doesn't matter how much fee you pay, since there is a limited size, if others pay more than you, they will get it confirmed first.

You have to give an example of a transaction that isn't confirming.

So if all this is true, and Core-QT is so smart, and knows the right amount of sat/bytes... and I try to go higher than that...  why is this happening??
Did you use the built-in floating fee with the estimated confirmation? That should be fairly accurate.

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