Abandoning a transaction | Bitcointalksearch.org

LoyceV

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Quote from: evan79 on January 04, 2018, 05:11:53 AM

Can someone confirm fee calculation is correct for the below?
BTC = 0.03
Bytes = 818
Inputs = 5
Fee = 0.0025
Satoshi/byte = 305.6234 (250 000 satoshi / 818)

Correct.

evan79

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Quote from: DannyHamilton on January 03, 2018, 03:52:20 PM

Quote from: evan79 on January 03, 2018, 03:39:49 PM

No problem, thanks for helping me, can you confirm the formula on how are you getting to 64 satoshi/byte based on 0.001 fee and bytes been 1558?

Code:

1.0 BTC        = 100000000 satoshi
0.1 BTC        =  10000000 satoshi
0.01 BTC       =   1000000 satoshi
0.001 BTC      =    100000 satoshi
0.0001 BTC     =     10000 satoshi
0.00001 BTC    =      1000 satoshi
0.000001 BTC   =       100 satoshi
0.0000001 BTC  =        10 satoshi
0.00000001 BTC =         1 satoshi

So, since 0.001 BTC = 100000 satoshi and you paid a fee of 0.001 BTC for 1558 bytes...

100000 satoshi / 1558 bytes = 64.18 satoshi per byte

Can someone confirm fee calculation is correct for the below?
BTC = 0.03
Bytes = 818
Inputs = 5
Fee = 0.0025
Satoshi/byte = 305.6234 (250 000 satoshi / 818)

evan79

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Activity: 79

Merit: 10

Quote from: DannyHamilton on January 03, 2018, 03:52:20 PM

Quote from: evan79 on January 03, 2018, 03:39:49 PM

No problem, thanks for helping me, can you confirm the formula on how are you getting to 64 satoshi/byte based on 0.001 fee and bytes been 1558?

1 BTC = 100000000 satoshi
0.1 BTC = 10000000 satoshi
0.01 BTC = 1000000 satoshi
0.001 BTC = 100000 satoshi
0.0001 BTC = 10000 satoshi
0.00001 BTC = 1000 satoshi
0.000001 BTC = 100 satoshi
0.0000001 BTC = 10 satoshi
0.00000001 BTC = 1 satoshi

So, since 0.001 BTC = 100000 satoshi and you paid a fee of 0.001 BTC for 1558 bytes...

100000 satoshi / 1558 bytes = 64.18 satoshi per byte

Thank you

DannyHamilton

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Merit: 4801

Quote from: evan79 on January 03, 2018, 03:39:49 PM

No problem, thanks for helping me, can you confirm the formula on how are you getting to 64 satoshi/byte based on 0.001 fee and bytes been 1558?

Code:

1.0 BTC        = 100000000 satoshi
0.1 BTC        =  10000000 satoshi
0.01 BTC       =   1000000 satoshi
0.001 BTC      =    100000 satoshi
0.0001 BTC     =     10000 satoshi
0.00001 BTC    =      1000 satoshi
0.000001 BTC   =       100 satoshi
0.0000001 BTC  =        10 satoshi
0.00000001 BTC =         1 satoshi

So, since 0.001 BTC = 100000 satoshi and you paid a fee of 0.001 BTC for 1558 bytes...

100000 satoshi / 1558 bytes = 64.18 satoshi per byte

evan79

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Activity: 79

Merit: 10

Quote from: LoyceV on January 03, 2018, 03:30:54 PM

Quote from: evan79 on January 03, 2018, 03:28:09 PM

How did you work out the satoshi/byte = 128?

I didn't, I failed Shocked

I misread 200000 satoshi for 1558 bytes, but it's 100000 satoshi for 1558 bytes. That means 64 satoshi/byte, which means it will most likely take a lot longer than 24 hours.

No problem, thanks for helping me, can you confirm the formula on how are you getting to 64 satoshi/byte based on 0.001 fee and bytes been 1558?

LoyceV

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Quote from: evan79 on January 03, 2018, 03:28:09 PM

How did you work out the satoshi/byte = 128?

I didn't, I failed Shocked

I misread 200000 satoshi for 1558 bytes, but it's 100000 satoshi for 1558 bytes. That means 64 satoshi/byte, which means it will most likely take a lot longer than 24 hours.

evan79

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Activity: 79

Merit: 10

Quote from: DannyHamilton on January 03, 2018, 03:10:46 PM

Quote from: LoyceV on January 03, 2018, 02:46:08 PM

Quote from: evan79 on January 03, 2018, 02:27:53 PM

How many blocks would it take to confirm if i used a fee of 0.001 for 0.02 BTC (1558 bytes) transaction?

That's 128 satoshi/byte. My Bitcoin Core estimates it'll get confirmed within 24 hours (144 blocks).

It's very difficult to predict what transaction volume will be like in the future. However, based on this chart:
https://jochen-hoenicke.de/queue/#2d

I wouldn't expect anything below 140 satoshi/byte to confirm in 24 hours.

If I wanted a pretty good chance of confirmation in the next 12 to 24 hours, I'd probably pay at least 200 satoshi/byte.

If I wanted it to confirm for certain in the next hour, I'd probably be paying a fee of 500 satoshi/byte.

If transaction volume drops off enough overnight tonight, then it is possible that your transaction might be able to confirm, but if the transaction volume continues to grow (or only drops slightly), then you may find yourself waiting for several days for transaction volume to eventually drop off enough.

Thanks

evan79

member

Activity: 79

Merit: 10

Quote from: LoyceV on January 03, 2018, 02:46:08 PM

Quote from: evan79 on January 03, 2018, 02:27:53 PM

Can someone confirm if i am ok to double spend only part of my initial unconfirmed transaction

Yes. The moment you get a confirmation transfering one of the inputs to another address, the original transaction is no longer possible.

Quote

How many blocks would it take to confirm if i used a fee of 0.001 for 0.02 BTC (1558 bytes) transaction?

That's 128 satoshi/byte. My Bitcoin Core estimates it'll get confirmed within 24 hours (144 blocks).

How did you work out the satoshi/byte = 128?

DannyHamilton

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Quote from: LoyceV on January 03, 2018, 02:46:08 PM

Quote from: evan79 on January 03, 2018, 02:27:53 PM

How many blocks would it take to confirm if i used a fee of 0.001 for 0.02 BTC (1558 bytes) transaction?

That's 128 satoshi/byte. My Bitcoin Core estimates it'll get confirmed within 24 hours (144 blocks).

It's very difficult to predict what transaction volume will be like in the future. However, based on this chart:
https://jochen-hoenicke.de/queue/#2d

I wouldn't expect anything below 140 satoshi/byte to confirm in 24 hours.

If I wanted a pretty good chance of confirmation in the next 12 to 24 hours, I'd probably pay at least 200 satoshi/byte.

If I wanted it to confirm for certain in the next hour, I'd probably be paying a fee of 500 satoshi/byte.

If transaction volume drops off enough overnight tonight, then it is possible that your transaction might be able to confirm, but if the transaction volume continues to grow (or only drops slightly), then you may find yourself waiting for several days for transaction volume to eventually drop off enough.

LoyceV

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Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: evan79 on January 03, 2018, 02:27:53 PM

Can someone confirm if i am ok to double spend only part of my initial unconfirmed transaction

Yes. The moment you get a confirmation transfering one of the inputs to another address, the original transaction is no longer possible.

Quote

How many blocks would it take to confirm if i used a fee of 0.001 for 0.02 BTC (1558 bytes) transaction?

~~That's 128 satoshi/byte. My Bitcoin Core estimates it'll get confirmed within 24 hours (144 blocks).~~
(see my next post)

evan79

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Activity: 79

Merit: 10

Can someone confirm if i am ok to double spend only part of my initial unconfirmed transaction which is now a abandoned transaction in my Bitcoin core Knots wallet?

Unconfirmed transaction for 0.03 BTC which is now abandoned which consisted of:
80 inputs over 5 addresses = 11865 bytes
Address A - 6 inputs
Address B - 70 inputs
Address C - 1 input
Address D - 2 inputs
Address E - 1 input

Want to Double spend for 0.02 BTC from the above unconfirmed transaction which will now consist of:
10 inputs over 4 addresses =1558 bytes
Address A - 6 inputs
Address C - 1 inputs
Address D - 2 inputs
Address E - 1 inputs

How many blocks would it take to confirm if i used a fee of 0.001 for 0.02 BTC (1558 bytes) transaction?

evan79

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Activity: 79

Merit: 10

Quote from: DannyHamilton on January 03, 2018, 09:57:27 AM

Quote from: evan79 on January 03, 2018, 09:27:33 AM

if there is an unconfirmed transaction on the blockchain because it has been abandoned in my wallet?

There will NEVER be an "unconfirmed" transaction "on the blockchain".

The definition of the word "confirmed" is "a transaction that is on the blockchain". So, if the transaction is on the blockchain then it is confirmed.

The definition of the word "unconfirmed" is "a valid transaction that is not yet on the blockchain". So it the transaction is "unconfirmed" then it is not yet on the blockchain.

Thanks Danny

DannyHamilton

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Quote from: evan79 on January 03, 2018, 09:27:33 AM

if there is an unconfirmed transaction on the blockchain because it has been abandoned in my wallet?

There will NEVER be an "unconfirmed" transaction "on the blockchain".

The definition of the word "confirmed" is "a transaction that is on the blockchain". So, if the transaction is on the blockchain then it is confirmed.

The definition of the word "unconfirmed" is "a valid transaction that is not yet on the blockchain". So it the transaction is "unconfirmed" then it is not yet on the blockchain.

evan79

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Quote from: LoyceV on January 03, 2018, 08:42:19 AM

Quote from: evan79 on January 03, 2018, 08:19:37 AM

Abandon transaction steps
1 - Delete mempool file from bitcoin code directory
2 - Start bitcoin with -walletboradcast=0
3 - Once bitcoin started i right-click transaction and and i choose abandon transaction
4 - Turn wallet off and restart

You have a typo in "walletbroadcast", it won't work like this.
I'm not sure what you're asking here, have you tested these 4 steps already?

Quote

Total Inputs   0.03266100 BTC
Total Outputs   0.03166006 BTC
Fee   0.00100094 BTC
Fee / KB   0.00008436 BTC
Size   11,865 bytes

At current fees, you'd need to use your entire balance as fee to get it confirmed. My guess is you have about 50 inputs, most of them aren't worth the fee required to send them now.

After you've abandoned this transaction, my advice would be to Enable coin control features (under Settings > Options > Wallet), and use only your largest inputs. Anything under 0.001BTC isn't worth the fee at the moment. Keep them, and use them only if fees ever go down in the future.

Hi LoyceV, thanks for replying,
Sorry typo my fault, I have 80 inputs and are majority are payments from 2 cloud mining companies back few years that i forgot about, my concern was my wallet trying to re-broadcast the abandoned transaction as the transaction will still be visible on the blockchain, i guess my wallet does not care if there is an unconfirmed transaction on the blockchain because it has been abandoned in my wallet?

Quote from: AdolfinWolf on January 03, 2018, 09:06:31 AM

Quote from: evan79 on January 03, 2018, 08:19:37 AM

Hi

Hoping someone can assist me, I have the below transaction which is unconfirmed, have tried broadcasting numerous times and others have too and accelerating it with no success and i understand it may never be confirmed due to the size vs fee, my questions are, if i abandon the transaction as per below steps and when my wallet (Bitcoin core Knots 0.15.1) restarts again as normal without the step 2 command so my wallet is broadcasting again that when my wallet re-syncs with the block chain the unconfirmed transaction will not re-appear in my wallet and that my wallet will not try to re-send the transaction again?

I don`t wish to advise my TX ID as i want to stop trying to broadcast it, i don`t wish to try to re-send with higher fee either i just want the BTC returned to my wallet, i understand this may take some time until all the nodes drop my TX from their mempools.

Total Inputs   0.03266100 BTC
Total Outputs   0.03166006 BTC
Fee   0.00100094 BTC
Fee / KB   0.00008436 BTC
Size   11,865 bytes

Abandon transaction steps
1 - Delete mempool file from bitcoin code directory
2 - Start bitcoin with -walletboradcast=0
3 - Once bitcoin started i right-click transaction and and i choose abandon transaction
4 - Turn wallet off and restart

Thanks in advance

Additionally, you could use -zapwallettxes in your bitcoin.conf, or cmd see https://bitcoin.stackexchange.com/questions/45988/how-do-you-apply-zapwallettxes-on-windows
which basically removes all unconfirmed/stuck transactions from your bitcoin-core gui, (+ your own "mempool"), Although you still need to wait untill all the other nodes drop your transaction aswell..

Thanks AdolfinWolf will try that if my 4 steps does not work.

AdolfinWolf

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Quote from: evan79 on January 03, 2018, 08:19:37 AM

Hi

Hoping someone can assist me, I have the below transaction which is unconfirmed, have tried broadcasting numerous times and others have too and accelerating it with no success and i understand it may never be confirmed due to the size vs fee, my questions are, if i abandon the transaction as per below steps and when my wallet (Bitcoin core Knots 0.15.1) restarts again as normal without the step 2 command so my wallet is broadcasting again that when my wallet re-syncs with the block chain the unconfirmed transaction will not re-appear in my wallet and that my wallet will not try to re-send the transaction again?

I don`t wish to advise my TX ID as i want to stop trying to broadcast it, i don`t wish to try to re-send with higher fee either i just want the BTC returned to my wallet, i understand this may take some time until all the nodes drop my TX from their mempools.

Total Inputs   0.03266100 BTC
Total Outputs   0.03166006 BTC
Fee   0.00100094 BTC
Fee / KB   0.00008436 BTC
Size   11,865 bytes

Abandon transaction steps
1 - Delete mempool file from bitcoin code directory
2 - Start bitcoin with -walletboradcast=0
3 - Once bitcoin started i right-click transaction and and i choose abandon transaction
4 - Turn wallet off and restart

Thanks in advance

Additionally, you could use -zapwallettxes in your bitcoin.conf, or cmd see https://bitcoin.stackexchange.com/questions/45988/how-do-you-apply-zapwallettxes-on-windows
which basically removes all unconfirmed/stuck transactions from your bitcoin-core gui, (+ your own "mempool"), Although you still need to wait untill all the other nodes drop your transaction aswell..

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: evan79 on January 03, 2018, 08:19:37 AM

Abandon transaction steps
1 - Delete mempool file from bitcoin code directory
2 - Start bitcoin with -walletboradcast=0
3 - Once bitcoin started i right-click transaction and and i choose abandon transaction
4 - Turn wallet off and restart

You have a typo in "walletbroadcast", it won't work like this.
I'm not sure what you're asking here, have you tested these 4 steps already?

Quote

Total Inputs   0.03266100 BTC
Total Outputs   0.03166006 BTC
Fee   0.00100094 BTC
Fee / KB   0.00008436 BTC
Size   11,865 bytes

At current fees, you'd need to use your entire balance as fee to get it confirmed. My guess is you have about 50 inputs, most of them aren't worth the fee required to send them now.

After you've abandoned this transaction, my advice would be to Enable coin control features (under Settings > Options > Wallet), and use only your largest inputs. Anything under 0.001BTC isn't worth the fee at the moment. Keep them, and use them only if fees ever go down in the future.

evan79

member

Activity: 79

Merit: 10

Hi

Hoping someone can assist me, I have the below transaction which is unconfirmed, have tried broadcasting numerous times and others have too and accelerating it with no success and i understand it may never be confirmed due to the size vs fee, my questions are, if i abandon the transaction as per below steps and when my wallet (Bitcoin core Knots 0.15.1) restarts again as normal without the step 2 command so my wallet is broadcasting again that when my wallet re-syncs with the block chain the unconfirmed transaction will not re-appear in my wallet and that my wallet will not try to re-send the transaction again?

I don`t wish to advise my TX ID as i want to stop trying to broadcast it, i don`t wish to try to re-send with higher fee either i just want the BTC returned to my wallet, i understand this may take some time until all the nodes drop my TX from their mempools.

Total Inputs   0.03266100 BTC
Total Outputs   0.03166006 BTC
Fee   0.00100094 BTC
Fee / KB   0.00008436 BTC
Size   11,865 bytes

Abandon transaction steps
1 - Delete mempool file from bitcoin code directory
2 - Start bitcoin with -walletboradcast=0
3 - Once bitcoin started i right-click transaction and and i choose abandon transaction
4 - Turn wallet off and restart

Thanks in advance

Topic: Abandoning a transaction (Read 271 times)