Help, I have enough BTC in my wallet, but it says "insufficient funds"???

[Cymatixone]

Hey guys,

New here, just having an issue that I haven't ever had before...Using Electrum,

I purchased some Btc today and am trying to use it to complete a transaction.

The purchase price for my transaction is .0106 BTC
My account has .0115 BTC...

That's absolute total, there's no transaction fees or anything i'm missing as far as I can tell.

Can anyone help me as to why this wouldn't go through, i've used this vendor and wallet dozens of times without issue, it's as if the btc I purchased today is not showing up in my wallet, even thought it says verified and confirmed at 1pm PST...

Any help would be extremely appreciated please, thanks folks!

[1715422641]

1715422641

[1715422641]

1715422641

[1715422641]

1715422641

[petahasher]

What is the transaction id? Are you sure the transaction has enough confirmations? I've had the same error before, and that's because I didn't have enough confirmations

[khaled0111]

Try lowering transaction fees to something less than 0.0009btc

[Cymatixone]

I'll try lowering the transaction fees, thanks.

So upon checking, there's 55 confirmations. this is a transaction under 100$ usd. I am pretty inexperienced with the technical side of it, but as I understand it, only 3+ confirmations are needed for a transaction up to 1000$ or up, from what i've read...?

Transaction id:

 96d4 6b57 ab58 49ce 57b6 a687 fd29 ba4d f93a 0878 9bdb 53d9 e016 a635 2db9 d380

[NeuroticFish]

1. The fees depend on the number of inputs (number of times you've received money to gather that amount) and if the number of inputs is big, the fee is going to be big.
2. The network is busy, it asks for 123 sat/byte now; if you are not in a hurry, you better wait until the fees go down by a big deal. Check on sites like https://btc.com/stats/unconfirmed-tx
3. Tools->Preferences, you can select to be able to set the fee by hand (edit fees manually). Then you can put whatever fee you want, but be warned, if the fee is small the transaction may take long to confirm, or, if the network is busy for long time, after 2 weeks your transaction may even get rejected.

[Cymatixone]

Hey, thank you guys so much for the responses, all is helpful.

So, Mr. Fish, thank you for the enlightening 3 steps there, very insightful. Interesting about the transaction fees...

So, what I ended up doing was Changing the transaction fees, it's Method: ETA and I changed the target to within 5 blocks (or as you said fish, 122.8 sat/byte), to
within 10 blocks (75.4 sat/byte) and it seemed to go through..

However, if i'm understanding you correctly Neurotic fish, by changing that I may have just made the sending of my btc confirmation way longer than instant?
If i'm deducing this properly, the transaction fee was more than 9$? And by changing that target to 10 blocks instead of "Within 5" that my btc may take longer to confirm, if they do at all??

Still unconfirmed as of now.

And, I apologize for any redundancy or noobishness, very welcoming community and I appreciate you guys.

[bones261]

Hey, thank you guys so much for the responses, all is helpful.

So, Mr. Fish, thank you for the enlightening 3 steps there, very insightful. Interesting about the transaction fees...

So, what I ended up doing was Changing the transaction fees, it's Method: ETA and I changed the target to within 5 blocks (or as you said fish, 122.8 sat/byte), to
within 10 blocks (75.4 sat/byte) and it seemed to go through..

However, if i'm understanding you correctly Neurotic fish, by changing that I may have just made the sending of my btc confirmation way longer than instant?
If i'm deducing this properly, the transaction fee was more than 9$? And by changing that target to 10 blocks instead of "Within 5" that my btc may take longer to confirm, if they do at all??

Still unconfirmed as of now.

And, I apologize for any redundancy or noobishness, very welcoming community and I appreciate you guys.

You can go here to find out approximately where your transaction stands in priority. https://blockchair.com/bitcoin/transaction/bfdabd5f95a760798e0cc32179d5c822c67f5ade8e243e7aa56dc1ea8132b173

Edit: It appears that your transaction now has 1 confirmation.

[NeuroticFish]

So, what I ended up doing was Changing the transaction fees, it's Method: ETA and I changed the target to within 5 blocks (or as you said fish, 122.8 sat/byte), to
within 10 blocks (75.4 sat/byte) and it seemed to go through..

Yep, and you were lucky too, your transaction already have one confirmation.
And maybe now my point 2 makes more sense: current best fee has dropped. I've seen it 76 and now 84 (and rising again).

However, if i'm understanding you correctly Neurotic fish, by changing that I may have just made the sending of my btc confirmation way longer than instant?

It depends. It always depends. The transactions are confirmed by adding them into newly mined blocks. The blocks have limited size and the ones paying more will get in first.

I'll exaggerate a little but:
If you pay 1000 sat/byte because that was the estimation for "within 5 blocks" and until the next mined block many others pay 2000 sat/byte, your transaction will fall behind and may still take long.
If you pay 100 sat/byte although the estimation for "within 5 blocks" was 1000 sat/byte, it can happen that your transaction can get confirmed in the next 30 minutes (many blocks mined unusually quick and not many new transactions with big fee).
Of course, these are extremes and usually the estimation made by the wallet is not that bad. But if you go much lower than the estimation you can face bad surprises (like not confirmed for weeks). It didn't happen (much) lately, but it was a reality in 2017.

If i'm deducing this properly, the transaction fee was more than 9$? And by changing that target to 10 blocks instead of "Within 5" that my btc may take longer to confirm, if they do at all??

From what I see you've paid now ~2.20$ as fee. Maybe 9$ was the initially proposed fee? Also 1.52$ have returned to another address of yours.
About the number of blocks, as I said, it's an estimation. If the number of new transactions rises or stay constant, it'll be longer to confirm. If it rises (sometimes exponentially) for long time (2 weeks), it will never get confirmed. If it decreases, it'll get confirmed earlier than the estimation. There are 2 unknown parts in the equation: the rate of the new transactions coming and the rate of the new blocks coming (the rate of the new blocks is supposed to be constant, but it's not; miners are instructed every 2 weeks adjust to keep it more or less constant)

[Cymatixone]

Wow, you guys are so awesome.

Thanks so much for the back to school lesson, I really shouldn't even be invested this much into the crypto system without even understanding these fundamentals, and I thank you all for your kindness and wisdom.

It appears as though it has went through, however, the time limit for the order already expired.

If it does come back that it didn't process, I emailed the owner of the company to let him know my issue and if not, i'll just go drop some more cash and try again tomorrow.

I appreciate the help again everyone, thank you so so much.

[swirl]

i have had always same issue while paying invoice via Bitpay app
and now i completely understand what is causing that, guys are greedy there(just my arrogant opinion)
actually i see the note "not enough funds" because payment protocol override wallet settings
(they dont admit it by answering directly to the question but let it know through the roses)
so Bitpay is forcing to pay same fee from wallet as from merchant side

as i still need to complete such transaction time after time, wanted to try Electrum wallet
to not to go wrong again i have one question about settings in Electrum
what kind of adjustments i need to do in wallet before paying invoice?
so that network fee could be added to the bill and not subtracted from the required amount

thank you

[ranochigo]

as i still need to complete such transaction time after time, wanted to try Electrum wallet
to not to go wrong again i have one question about settings in Electrum
what kind of adjustments i need to do in wallet before paying invoice?
so that network fee could be added to the bill and not subtracted from the required amount

thank you

With Electrum, the client treats the amount of Bitcoins that you've entered in the sending page as the intended amount for the outputs of the transaction. The amount that you've entered excludes the fees that is included in the transaction. You can use the slider to increase and decrease the fees; you don't have to change the value that you're sending either.

[swirl]

not quite clear yet so i bring in more details
what do you suggest to use in tools/preferences?
1.fee estimation: ETA,static or mempool?
2.edit fees manually or use replace by fee?
3.transactions: use change addresses or use multiple change addresses or something else?

maybe there are some more important factors i should check before usage?

 

[ranochigo]

not quite clear yet so i bring in more details
what do you suggest to use in tools/preferences?
1.fee estimation: ETA,static or mempool?
2.edit fees manually or use replace by fee?

I recommend using the mempool. Static is the worst of the 3 since it doesn't show the fees based on the network condition. With ETA and mempool, it is somewhat the same but for most users, ETA would be the most suitable since it allows the user to roughly gauge the time that they need it to confirm instead of estimating using how many transactions are infront of you.

3.transactions: use change addresses or use multiple change addresses or something else?

A single change address. Having too many outputs increases the size of the transaction and it also increases the size of your subsequent transactions since you have to combine them eventually.

[nc50lc]

-snip-
maybe there are some more important factors i should check before usage?

Everything's pretty much answered so I'll just add this:

Display the "Coins" Tab by clicking "View->Show Coins"; in that tab, all of your available UTXOs will be displayed.
If you found too many small values like 0.00001BTC or below, either [1] freeze them temporarily and consolidate them once the average fee falls to low value again or [2] Always manually select the input(s) in every transaction and refrain from using more than two inputs.

That's all to save transaction fee which could solve the "insufficient funds" issue by excluding the small inputs that have lower balance than the added fee caused by the additional bytes by including them.

[swirl]

thanks for explaining all this

saved at least 1$ in transaction fees with Electrum, paid invoice with 36sat/byte while Bitpay app is refusing to send with less than 143bit/byte
i was lucky too as mempool droped to 300K Bytes right now
from merchant side still had to pay 20K satoshi which is really overrated in their biz

thanks folks