Bitcoin Transaction Accelerator. Does it Work or Just Another Hype?

[stompix]

My ViaBTC accelerator experience is the same as mentioned above.
~
Even the paid one is not expensive and definitely worth using.

Not expensive?
I've picked a random 1 input 1 output tx from the mempool and this is what the paid service will ask for:

45f8ce98c5c4b9839eec8f6045bfec80d2ea2b863e06622f4cd0d33accdc67f5
Transaction Size (Current TX Size + Previous Unconfirmed TX Size)
141 Bytes = (141 + 0) Bytes
Total fee
0.0021432 BTC ≈ $ 58.10

$58.10 is not expensive?

For a larger tx of 2000 bytes, it's...0.0220192 BTC ≈ $ 596.78 !!!

Never understood what's the point of a transaction accelerator, from the pool's part. They have nothing to gain. It's basically like giving free bitcoin, and as far as the mempool is concerned, 100 transactions for free is rather lots of money.

Promotion, mainly for other services as miners are not really happy about it, see this:
https://bitcointalk.org/index.php?topic=5345553.msg57304026#msg57304026

By the way, I don't see them having a size limit. You could create a large transaction, broadcast it and have them accelerated for you? Has anyone tried this?

≤0.5 KB, they are not accepting anything bigger, also over 10sat/b not vbyte, and not CPFP tx!

[Nrcewker]

I have heard that these accelerators just rebroadcast your transaction again in the network. Can’t say surely about the acceleration feature, but yes rebroadcasting the transaction does help for many people to speed up their transactions. If you ask me manual method, then if you using a wallet which supports RBF then yes by this, you can increase the transaction fees and can speed up the transaction. But I would always ask you to use high fees if you are in a hurry for the coins to be sent to someone.

[Agbe]

Some of the users of the transaction accelerator were saying in the thread that the service was successful and they came thanks the project manager. As for except the bump fee if the fee was low and also rebroadcast transaction are the major manual ways I know so I don't know which of the other channels to fast track the transaction without increasing the transaction fee. Though I can't judge from far until I also use the service to confirm.

[KiaKia]

It's something you can do yourself by placing another transaction with a much higher fee than the one that's stuck on the network, I don't see any need to use Bitcoin transaction accelerators if you really understand how the blockchain functions.

I have used the ViaBTC accelerator in the past and it works, but it was so magical to me at that time because I don't know much about how Bitcoin works, but today I have finally understood that a lower transaction fee is why your Bitcoin is stuck in the network.

[un_rank]

It's something you can do yourself by placing another transaction with a much higher fee than the one that's stuck on the network, I don't see any need to use Bitcoin transaction accelerators if you really understand how the blockchain functions.

You are referring to CPFP ~ Child Pays For Parent, which involves spending some of the unconfirmed transaction outputs so the miner has to confirm the parent transaction and the new one. You have to use an attractive (expensive) enough fee to compel a miner to include both transactions in their block. This is not a better alternative to a free service where you just have to submit your txid.

I have used the ViaBTC accelerator in the past and it works, but it was so magical to me at that time because I don't know much about how Bitcoin works, but today I have finally understood that a lower transaction fee is why your Bitcoin is stuck in the network.

ViaBTC does not increase the transaction fee paid, it includes the transaction into their candidate block for confirmation.

- Jay -

[onecall123]

I've used several services before. So, I can say that Bitcoin transaction accelerator can be a helpful tool in certain situations. It main purpose is to speed up transaction confirmations by prioritizing them for inclusion in the next block. However, its effectiveness depends on various factors, such as network congestion and miner acceptance. It's not a guaranteed solution but can provide relief in urgent cases. But do keep in mind that since the accelerator is an external service, there might be a fee associated with using it.

[Lucius]

~snip~
ViaBTC does not increase the transaction fee paid, it includes the transaction into their candidate block for confirmation.

And what is even more important for some who think that their transaction will be confirmed instantly, the confirmation depends on when Via finds the next block, which could be within a few minutes, or after a few hours. It happened to me many times that the transaction went through before Via found the block, but that doesn't mean it doesn't work as some still claim.

In addition, this issue was relevant as early as 2017 and there have been many discussions since then, and the fact is that many have learned to use RBF and CPFP, because there is not much interest in transaction accelerators as before.

[death69]

Ever get the feeling that this Bitcoin game sometimes whisks us back to the era of the excruciating dial-up? Waiting for a crypto-epoch for your transaction to be green-lighted, akin to enduring the prehistoric AOL loading page. Brings back memories, doesn't it... Moving on to these mystical Bitcoin accelerators. Do they deliver? Picture them as the schoolyard genius who boasted about overclocking your rig by installing some additional "RAM" (which translates to: dubious software). Some disciples believe in their miraculous prowess, but I'm yet to be convinced about their miracle cure-all abilities.

When it comes to giving your transactions a caffeine jolt, there's always the alternative to bump up your transaction fee. It's somewhat like slipping the nightclub doorman a Jefferson to expedite your entrance. Plusher fees could potentially flag down a miner's interest, hence oiling the wheels.

And finally, the million-dollar question: Can accelerators clip transaction fees? Hypothetically, they could, by pumping up confirmation speed during periods of network traffic jams. But be warned, there's no such thing as a free Bitcoin, so while the buzz train is in full throttle, keep your wits about you and your digital wallet padlocked until you're entirely sure of the deal!