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evan79
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December 31, 2017, 03:01:36 PM
Last edit: January 03, 2018, 07:36:18 AM by evan79
 #1

Hi All

Wanted to know what your thoughts are on how long the below tx will likely take to confirm, I paid 0.001 BTC network fee to send 0.03 BTC but seems as the size of 11865 bytes is large so my fee needs to be more, any ideas of what fee should be to get this confirmed as i have the option to increase my network fee, my wallet Bitcoin Knots shows fees in kilobyte so would appreciate if you can confirm an ideal fee in kilobyte?

.

I posted in an accelerator thread asking for my tx id to be accelerated already too.

Thanks in advance for any help Evan
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buwaytress
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December 31, 2017, 04:31:51 PM
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OK so it looks like you know how to do a CPFP transaction but you just want to know how much fees to pay right? First, go to this estimator: https://bitcoinfees.earn.com/

Currently, it shows that for a 90% chance to confirm in the next block (that, is almost instantly from 0-10 minutes on average) you have to pay 501 satoshis per byte. Or since you're looking for KB then multiply by 1000 = 501,000 satoshi per KB.

So for your CPFP transaction, remember you need to pay for BOTH the first tx and the CPFP transaction at the rate of 501,000 sats/KB.

So, calculate the total size of both transactions (data not btc amount), and then include a fee at that rate above. The first tx already has a 100k satoshi fee but I'd leave that out of the equation if I were you (just to be sure in case mempool grows).




evan79
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December 31, 2017, 05:58:00 PM
 #3

hi buwaytress, thanks for responding.
Bitcoin Knots wallet has a option to increase the miners fee so i transferred some BTC to my wallet and waited for 6 confirmations and then tried to increase the miners fee but was unfortunately unable to change the fee for this reason even with 0.018 BTC available.
I am not sure if CPFP is the same as above that you are referring to, been able to add additional network fee?
Regarding the network fee, as the tx size is 11865 Kilobytes my calculations would have 0.006-0.007 been appropriate fee ( 0.005/0.006 + the original 0.001 fee)?
11865 Kilobytes at current fee to me works out at about 0.05 BTC which is too much  Undecided.
How long does the mempool keep my transaction before it is discarded and the BTC is returned to me?
buwaytress
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December 31, 2017, 07:59:10 PM
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Unfortunately, I don't know how Bitcoin Knots wallet works, so you may have to go to their support and ask what they mean by increasing miner's fee. This usually isn't possible to do once the transaction has been broadcast, unless the wallet allows you to do a double spend (or perhaps a Replace by Fee) transaction, in the hopes that miners will pick up the second spend with higher fees?

From the website, it looks like it's a derivative of Bitcoin Core so I'm assuming that simply not loading the wallet should mean your transaction will stop being broadcast. If this is true, then it will eventually result in the transaction being dropped from mempool (your bitcoin won't be "Returned" to you, essentially your tx merely won't exist and it won't be confirmed).

Sorry I can't help more...

evan79
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December 31, 2017, 08:42:51 PM
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Unfortunately, I don't know how Bitcoin Knots wallet works, so you may have to go to their support and ask what they mean by increasing miner's fee. This usually isn't possible to do once the transaction has been broadcast, unless the wallet allows you to do a double spend (or perhaps a Replace by Fee) transaction, in the hopes that miners will pick up the second spend with higher fees?

From the website, it looks like it's a derivative of Bitcoin Core so I'm assuming that simply not loading the wallet should mean your transaction will stop being broadcast. If this is true, then it will eventually result in the transaction being dropped from mempool (your bitcoin won't be "Returned" to you, essentially your tx merely won't exist and it won't be confirmed).

Sorry I can't help more...

Appreciate you replies, yes it is Knots wallet is a derivative of the core wallet, I trying one more avenue by asking a mining pool operator how much would they charge to include my TX in their next block, i have in the meantime turned my Knots wallet off so to stop broadcasting, thanks for you help again and happy new year!
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January 01, 2018, 10:04:34 PM
 #6

Can anyone offer some advice, on blockchain.info explorer my TX id 8822b19fe21b0edd61dc7f0061f8d34afc39ecfd3b3bba09fe381c1105859de1 is showing "lock time 501872", does that mean my transaction will not disappear from the mempool as i am hoping my TX will dissappear and my BTC will be returned to me?
Anarc Senior
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January 01, 2018, 10:48:16 PM
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Can anyone offer some advice, on blockchain.info explorer my TX id 8822b19fe21b0edd61dc7f0061f8d34afc39ecfd3b3bba09fe381c1105859de1 is showing "lock time 501872", does that mean my transaction will not disappear from the mempool as i am hoping my TX will dissappear and my BTC will be returned to me?

Base on you tx information the sender pay the fee too low ~ $13.5.  Because the tx had 11865 bites  @ 8.436 satoshi/B, which is quite low for 0.3 btc

Who sent this transaction ?  The reason I'm asking is because I am in the same boat as you are....my exchange CEX.io really screwed me because they paid 22 Satoshi/B with the transaction size of 40,000 bites...I notice that your transaction had lots of inputs like mine...which made it expensive to transact...

The good news is the unconfirmed transaction backlog is coming down...but it is still around at least around 70 Satoshi/B to make the cut...

What ever you do don't pay the accelate services providers, as most of them are scam...especially "confirmTX"

The only  website that I know is legitimate - see link below.

 But try free service first - most like won't work because too many people are using it.  In fact by telling you this information, you become my competitor 😂

If free service doesn't work, you could then try the paid service - it most likely will be expensive...

Good luck and let me know - you and I are currently in the same boat, so if you can figure out a cheaper way to solve your problem, please share with me.

Cheers,

https://pool.viabtc.com/tools/txaccelerator/

evan79
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January 01, 2018, 11:05:13 PM
 #8

Can anyone offer some advice, on blockchain.info explorer my TX id 8822b19fe21b0edd61dc7f0061f8d34afc39ecfd3b3bba09fe381c1105859de1 is showing "lock time 501872", does that mean my transaction will not disappear from the mempool as i am hoping my TX will dissappear and my BTC will be returned to me?

Base on you tx information the sender pay the fee too low ~ $13.5.  Because the tx had 11865 bites  @ 8.436 satoshi/B, which is quite low for 0.3 btc

Who sent this transaction ?  The reason I'm asking is because I am in the same boat as you are....my exchange CEX.io really screwed me because they paid 22 Satoshi/B with the transaction size of 40,000 bites...I notice that your transaction had lots of inputs like mine...which made it expensive to transact...

The good news is the unconfirmed transaction backlog is coming down...but it is still around at least around 70 Satoshi/B to make the cut...

What ever you do don't pay the accelate services providers, as most of them are scam...especially "confirmTX"

The only  website that I know is legitimate - see link below.

 But try free service first - most like won't work because too many people are using it.  In fact by telling you this information, you become my competitor 😂

If free service doesn't work, you could then try the paid service - it most likely will be expensive...

Good luck and let me know - you and I are currently in the same boat, so if you can figure out a cheaper way to solve your problem, please share with me.

Cheers,

https://pool.viabtc.com/tools/txaccelerator/



Hi, i sent the transaction, i sent 0.03 BTC and thought the 0.001 BTC fee would be sufficient but did not realize the 11865 bytes would be a issue, noob move on my part.
Lots of inputs are from cloud mining payments
Yes i also been trying ViaBTC accelerator but it is always busy, best of luck to you in getting you TX confirmed.

If anyone can advise what "lock time 501872" on blockchain.info explorer means that would be appreciated?

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