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Author Topic: Advice Please  (Read 55 times)
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January 05, 2018, 09:44:25 PM


As a relative newby to bitcoin I am looking for some advice. (I sold my first experimental bitcoins a year ago leaving just a bit in my multibit wallet)..

december 12th I bought another 0.013 bitcoins and had them in my multibit (old version) wallet. But somehow Multibit on my computer suddenly stopped remembering my wallet status, so on every start, it started synchronizing from scratch by downloading the complete blockchain.. Which took more than 3 hours. Afraid of loosing access I didn't want to fool around to much with it to fix that..

So december 17th I downloaded electrum as a more modern wallet to transfer my bitcoins into. I was unaware that this transaction would cost relatively much fee, I did know there was a fee, but not how much.. and because multibit didn't let me do the transfer until I left 0.0001 btc in my wallet, I thought that that would do... and that is what I did...

I got an immediate alert from electrum that the transaction was done, so I thought, just wait half an hour or so...
But it was never confirmed.. and after a while a message (low fee) was showing in electrum..  And that is what it is today

below this failing transaction:
According to multibit my wallet was clean and empty.  In Electrum I can right click the transaction and choose for "Child Pays for Parent"

But not in a hurry to get the transaction confirmed (I'm not planning on doing anything soon with it) I started reading a bit about transaction fees and possible solutions to get it confirmed.
Meanwhile I also did what I should have done in the first place... I Exported my private key in multibit and imported it in electrum.. So I can now also manage my old wallet from electrum (didn't cost me anything... :-)   but it is empty  :-(   )

So there I am... I payed a "low" transaction fee (0.0001 btc)... Okay, but to use the CPFP (Child Pays for Parent) option Electrum defaults to 0.00378143 btc Which is 25% of my total bitcoins. I'd rather not..

For me it would be fine if either the transaction gets confirmed, or reverted..  I have complete access on both wallets.

Can any of you advice on my available options?
Is it an option to just wait... (even a year)  to see if the transaction is going to be confirmed for 0,0001 btc fee?
Or will transaction fees drop ?
Should I use the CPFP option.
I don't have bitcoins in my old wallet to reissue the transaction with a higher fee.

Any thoughts?

Thanks in advance.
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January 05, 2018, 10:06:23 PM

I think its already been rejected and the only thing that i know can resolve this is to make a child transaction so that your parent transaction can be included in child transaction but you need to pay higher fee i was also experience this last year but there's no other option that i know because i already use all accelerator except for paid because they are asking a large payment when accelerating so i choose to use the free service but still stuck of almost 7 days but the transaction history in my electrum was gone that i think my transaction was rejected and i can make a new transaction again.. so i read some ways like double spend or CPFP and test the CPFP and works fine for me but i change the recommended fee a bit low i think 10% of the fee and my transaction is confirm in minute base in what i experience before..

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January 06, 2018, 05:05:43 AM

got your tx accepted by viabtc accelerator.

it should finally confirm with their next block.

edit: confirmed
Included In ViaBTC Block
502807 ( 2018-01-06 07:05:29 + 28,744 minutes )

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January 06, 2018, 10:45:09 PM

Hello VH,

Many thanks for helping me out here. I did try a few times through at viabtc. but I couldn't get through.

I'm very happy you did.

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