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Author Topic: Deposit to Binance unconfirmed after 48hours using Android Bitcoin Wallet  (Read 292 times)
Ishaq47 (OP)
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February 08, 2021, 06:02:00 PM
 #21

I don't know how the mempool works but waiting 2-3weeks to potentially get the BTC back on the android wallet feels also like a waste

Well, using a proper wallet with RBF enabled, you'd be able to increase the fee afterwards by replacing the transaction with a new one paying a higher fee.
Unfortunately your mobile wallet doesn't allow to do that.

While switching to a better wallet won't help you now, it might save your some headache in the future.



@bob123 you are completely right, I immediatly installed samourai for future transactions. Smiley Also feel kinda ripped off by the fact that this Android wallet was being promoted as having "Full Fee Control" and having RBF;

Only to afterwards see that RBF is disabled and fee control is barely there they give you 3 options only and these options wouldn't even tell you how much sat/b the fee's are Huh
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February 08, 2021, 06:43:33 PM
 #22

I don't know how the mempool works but waiting 2-3weeks to potentially get the BTC back on the android wallet feels also like a waste

Well, using a proper wallet with RBF enabled, you'd be able to increase the fee afterwards by replacing the transaction with a new one paying a higher fee.
Unfortunately your mobile wallet doesn't allow to do that.

While switching to a better wallet won't help you now, it might save your some headache in the future.



Can I ask something since you already mention this. I notice that Electrum Mobile Wallet is giving an option about replaceable transaction. Is this the same stuff that can make the user change the transaction fee for the existing transaction?

*I always choose no on that option because I thought that I might commit double spend if send again another transaction while the first transaction is still unconfirmed.  Cheesy

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bob123
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February 08, 2021, 06:53:17 PM
 #23

@bob123 you are completely right, I immediatly installed samourai for future transactions. Smiley

Samourai definitely is a good choice.



Only to afterwards see that RBF is disabled and fee control is barely there they give you 3 options only and these options wouldn't even tell you how much sat/b the fee's are Huh

But that's weird. If it promotes having RBF, then there might be an option somewhere? But nonetheless.. only offering to choose between 3 options for a fee is incredibly bad.
Samourai is definitely the better choice here.



Can I ask something since you already mention this. I notice that Electrum Mobile Wallet is giving an option about replaceable transaction. Is this the same stuff that can make the user change the transaction fee for the existing transaction?

*I always choose no on that option because I thought that I might commit double spend if send again another transaction while the first transaction is still unconfirmed.  Cheesy

Yes, this setting is exactly that, enabling Replace-By-Fee (RBF).

Well, it actually is a double spend. But by using the "bump fee" feature, you are double-spending the same UTXO in a new transaction to the same recipient. Just with a higher fee.
It could be exploited to make a double-spend sending the funds to yourself. And that's the reason no one should accept 0-conf transactions. Especially if the RBF flag is set.

There is rarely any use case where RBF does harm you. Close to no one accepts 0-conf transactions. And after the 1st confirmation, the RBF flag gets "useless". The TX can only be replaced while it is unconfirmed.

You don't need to worry enabling that feature Smiley

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February 08, 2021, 09:58:10 PM
Last edit: February 08, 2021, 10:36:07 PM by BASE16
 #24

Yes for once i agree with good o'l Bob, Samourai is a good choice but Binance is not.
Binance is the next disaster that is about to happen in cryptoworld due to the way things are set up over there.
It's gonna happen.
And when it happens, it will take out EVERYTHING !
Not just some of it but ALL OF IT !!!
Is it a lack of brain capacity on their dev team ? Or was it planned and a setup from the start ? Who knows..
Once thing is clear though....
Binance is going to be GoXed.
Do you really want to take that risk ?
Ishaq47 (OP)
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February 09, 2021, 03:47:09 PM
 #25

So on the android wallet i'll have around 35000 satoshi, will this be enough to complete the CPFP?
At the moment, no. You currently need a fee of around 120 sats/vbyte to get in to the next block.

Assuming your CPFP transaction is around 300 vbytes in size, then combining that with your current transaction of 369 vbytes which pas 932 sats, then your new transaction would need to pay a total fee of ~80,000 sats. You can pay all 35,000 sats as a fee, but that would only bring you to an equivalent rate of around 52 sats/vbyte, which at the moment is still around 7 MB from the tip. That's still a lot higher than your currently unconfirmed transaction though, and might confirm within the next 12-24.

Hey @oeleo I got myself some funds on the android wallet and think I did the CPFP, I emptied the whole wallet and used priority fee's so paid 20$ fee.

I've sent the funds to the same binance deposit wallet and I've checked blockchain but I'm not sure if I did it correctly.

This is the blockchain link of the deposit adress with the previous and new deposit transactions the cpfp transaction has a 144.157 sat/B fee

https://www.blockchain.com/btc/address/12PmqFhxMXFikqJwjjgYVWx83uTR6Ux6cS

Did I do the CPFP method correctly anyone? ^^

Thanks
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February 09, 2021, 03:56:03 PM
 #26

Yes, that looks like a successful CPFP to me. Well done.

If we add up the weight of both your transactions together it comes to 1,476 + 1,044 = 2,520 weight units = 630 vbytes.
If we add up the fee of both your transactions together it comes to 932 + 49,590 = 50,522 sats.
This means the combined fee rate for your two transactions is 50,522/630 = 80.2 sats/vbyte.

Looking at the current mempool, this puts you around 4 MB from the tip. Since the mempool tends to empty out a bit between around 00:00 - 06:00 UTC, there is a chance you could confirm within the next 12 hours, but the recent price surge up to ~$47k has made the mempool even more full than it has been for the last few days.

In any case, 80.2 sats/vbyte is far better than 2.5 sats/vbyte.
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April 18, 2021, 09:16:38 AM
 #27

Had it several times. Support said it's some technical issues
Seems to happen anytime price rises but still several days to proceed
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