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Author Topic: To low fee, ledger wallet.  (Read 58 times)
Kennet_h
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April 25, 2018, 11:26:11 PM
 #1

I F*** up, and put 1sat/byte, instead of 100sat, TX fee.

I wanted to speed up the transaction, but not sure how to do it.

You get a option to pay a new fee, by clicking the lightning symbol in the ledger wallet.

But when i'm asked to confirm the transaction on my Nano s, its not the same address as i sent it to, and the amount is not the same.

Are the BTC on the new transaction just paying for the fee, and is it supposed to go to another address?
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Xynerise
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April 26, 2018, 12:00:18 AM
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 #2


You get a option to pay a new fee, by clicking the lightning symbol in the ledger wallet.
That initiates a child-pays-for-parent transaction in which a new transaction is made spending the change outputs from the unconfirmed transaction but witha higher fee for both transactions so they get confirmed together.
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But when i'm asked to confirm the transaction on my Nano s, its not the same address as i sent it to, and the amount is not the same.
Yes, that's how CPFP works.
Let's say you sent 0.3 BTC to an address with a 1 BTC input, so you have a ~0.7BTC change output also. If you used a too-low fee for the transaction then you can spend that 0.7BTC change to another address that you control with a higher fee so that your 0.3 BTC transaction confirms and the new child transaction confirms at the same time.
When you click the lightning bolt icon, the Ledger wallet does this automatically for you.
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Are the BTC on the new transaction just paying for the fee, and is it supposed to go to another address?
Exactly, yes, as I explained above.
That new address is still controlled by your Ledger.
You can connect the Ledger device to Electrum and confirm that that address is part of your receiving addresses.

If you don't wish to pay more fees to accelerate your transaction via CPFP, then you can just paste your transaction ID in Antpool's transaction acceleration service And it will be included in any new block they mine.
This service is free, but you'll have to sign up on their website.
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April 26, 2018, 12:08:15 AM
 #3

Thank you for the answer! I am so thankful, for all you  knowledgeable people, helping out! Smiley
network.decentralizer
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April 26, 2018, 08:32:16 PM
 #4

Like @Xynerise said you can use CPFP every time you have the same problem but you will use fee X2 because the miners should include 2 transactions in the block. Also it's good to visit this page https://jochen-hoenicke.de/queue/  to see the mempool transactions and the cheapest sat/byte rate.
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