Topic: Bitcoin open source wallets that support replace-by-fee (RBF) - page 2. (Read 1548 times)

I have removed coinb.in.

What can this type of web wallet be called? Is it not HD brain wallet? Or is this how other web wallets are generating their seed phrase as I can see them all requiring username and password?

Although web wallets are the most vulnerable means to generate bitcoin wallets and they are the most vulnerable wallets.

I would concur with hosseinimr93. coinb.in should be viewed as a tool for advanced users to construct transactions or addresses with particular unlocking scripts, and to broadcast transactions if necessary. It can also be used by advanced users on an airgapped device as a tool for signing transactions. It should never be used as a wallet because web wallets are not secure, even if they generate entropy properly and not via an email and password which is a terrible idea.

I wouldn't put coinb.in on any list of recommended wallets, especially not one targeted at beginners.

In the case you are referring to the wallet tab in coinb.in, note that your address is generated from the combination of your email address and the chosen password and due to obvious reasons, it's not a good method for generating a wallet. As you surely know, you should generate your wallet from a completely random entropy.


Coinb.in is a great tool for building the raw transaction and it allows you to flag your transaction as RBF, but I would never recommend anyone to use it for generating a wallet.


That's not possible, if you have signed your transaction before and you want to use coinb.in only for broadcasting the transaction.
Take note that with any change in transaction data, the signature becomes invalid and there in no way coinb.in can flag your transaction as RBF, if the transaction you have signed isn't RBF-enabled.

If you have a signed transaction which hasn't been flagged as RBF and you want to broadcast a RBF-enabled transaction using coinb.in, you should build a new tranaction, flag it as RBF and sign it again.

I added https://coinb.in

I have not used this JavaScript wallet before, but if you click on advanced option while using it to generate a wallet, the RBF is checked and you will be able to use it to make transactions that support RBF.

It supports multisig. You can use it to create, verify, sign and broadcast custom raw transactions online. It has fee calculator. You can also use it offline.

If there is any reason not to add it, please let me know.

I do not know yet if the RBF is applied only when you use the JavaScript to generate wallet, or it also applicable when you used the site to broadcast a signed transaction. I hope someone will make this clear, or I will test it before this week is over.

I used https://mempool.space for it and I saw 151 sat/vbyte when I posted it.

When you posted this just not quite long, the fee rate was at 40 sat/vbyte on https://mempool.space.

https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,weight is for advanced users and I will recommend newbies to still use https://mempool.space until they understand how to use the former.

This thread is about RBF. I still do not see what you are trying to prove over what is unnecessary. I will try all the best to make this readable for newbies.

Mempool now at 26 sat/vbyte and still getting lower. Newbies can easily use https://mempool.space to check the fee rate.

I wanted to inform you that you gave not clear information.
When you mentioned mempool is at 151 sat/vbyte, what is mempool at that fee rate? You did not mention about it, with 151 sat/vbyte, it is 1 vMB from tip of mempool or 50 vMB from tip of mempool. The second part is important because it will help us to know what is an affordable fee rate to use at that time.

No offense but I hope you understand my contribution. Your information is not enough and not enough can be considered as not accurate.

Like now, I can write mempool is at 200 sat/vbyte but it is 0.121 vMB from tip of mempool and I can use a lower fee rate like 50+ sat/vbyte (0.823 vMB from tip of mempool) to get a confirmation within next 1 or 2 blocks.

You later saw what happened. But that is not the main discussion. This is about the importance of RBF. I was only explaining how RBF can be helpful to increase transaction fee so that stuck transaction or transactions that are not likely to be confirmed early can be replaced by high fee one so that such transaction will not be stuck and remain unconfirmed for longer period of time.

Maybe you have forgotten that I included that in the OP: https://ninjastic.space/topic/5422456.0

151 sat/vbyte is at very tip of the mempool but it is not a highest fee rate used in waiting transactions in mempool currently or last 24 hours. The highest values are somewhere from 250 to 300 sat/vbyte (last 24 hours).

By mentioning 151 sat/vbyte, you are making newbies panic. They actually can get a confirmation in a next one to two blocks with 70+ or 80+ (80+ is better choice) sat/vbyte.

• https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,weight
• https://mempool.space/graphs/mempool#24h

First they should not use wallets in online accounts that are custodial wallets usually. With such wallets, they don't have Coin control feature so sure not have choice to control fee rate too.

• Reminder: do not keep your money in online accounts

RBF makes bitcoin transaction to be easy, you do not need to have frustration of stuck transaction after you have used low fee. If the fee used is low when the mempool is congested, you can pump the fee.

The mempool is at 151 sat/vbyte now. Because of RBF, I can use a fee rate of 20 to 30 sat/vbyte or lower fee rate and still be able to pump the fee if no confirmation within the time I am expecting.

People should not be using wallets that do not support RBF.

Transactions of 1 sat/vbyte are getting confirmed today, but there is nothing bad to still use a wallet that support opt-in RBF so that you will be able to pump the fee in times of mempool congestion. The mempool can get congested at anytime, RBF is very useful.


Instead of unwanted stuck transaction, you will be able to pump the fee if using any of these wallets.

Do not mind me that I was using Electrum seed phrase to test it, actually I can use opt-in RBF on Electrum directly, which means importing it on Bluewallet is not necessary. But I was still surprised that there is such limit.

I used the seed phrase that was generated from Electrum directly it shows this:





But while I used a BIP39 seed phrase, it shows this:





Another disadvantage is when your incoming transaction is still not confirmed, if you use BIP 39 seed phrase, you will see pump fee, but which is the use of CPFP.

     



Nothing like that if you import Electrum seed phrase. But also not necessary because that can be done directly on Electrum:




Also that CPFP can be done on all wallet that supports spending of unconfirmed transaction.

Personally, I did not have any problems in the past, but I know many cases in which fraudulent operations took place, the basis of which was that a buyer was ignorant of the basics of the protocol and did not bother to seek the help of an experimenter. Perhaps it is fortunate for those who use the wallets of the trading platforms because the transaction does not appear on their applications until after at least two network confirmations, but this remains impractical in the case of urgency since the transaction cannot be accelerated using the wallet of the platform. This may be one of the reasons for the rise in the use of altcoins (USDT in particular).

I don't understand why would they want to limit the user this way but you're probably right. I just tried to send some funds from my Bluewallet, and both (bump and cancel) buttons are showing.

This is what I did. I import Electrum seed phrase on Bluewallet, I made the transaction on Electrum for testing. I saw the transaction on Bluewallet and I click on the transaction for me to be able to pump the fee, I did not see pump fee and cancel transaction. This is what I saw:



I checked the settings to know if RBF is by default or not but I did not see anything. This makes me think that it is by default. But I was unable to pump the fee.

Or maybe it is because I did not broadcast the transaction on Bluewallet. I do not know yet. I will make transaction on Bluewallet directly to know if it is because of it or not.

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Edit:

To be able to pump the fee, the image supposed to be like this as I saw it from the Twitter video that Lucius posted as it includes 'pump fee' below which can be clicked on the pump the fee

In fact, it is "Bump fee" if we are to be precise, and that is what it says on the sample screen you posted

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The matter should have been quite simple if you want to bump the fee of your transaction, the RBF option is enabled and you have enough funds to increase the fee. I've never had that wallet, but here's their little tutorial -> BlueWallet RBF

Before, if I receive bitcoin even from a stranger, provided if the transaction does not support RBF and the person uses high fee for it in a way the transaction can be included in the next block most probably, I can accept 0 confirmation. But after I have been reading about full RBF on this forum, I have changed my decision about that. At least, I prefer 1 confirmation now.

If the transaction supports RBF, I too accept 1 confirmation. If the amount sent is very high, I will wait until 6 confirmations too just like you.

Exactly. Thanks for providing that. @dansus021, if you follow Leo's comment, this image will appear:



Click on 'Options'.



Click on 'Pump fee'.

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I was thinking I will be able to pump the fee on mobile Bluewallet, but unfortunately I was not able to. Or is there anything I am getting wrong?

I would just like to add that the procedure does not end with choosing a new fee and signing the transaction, but the final step is to send the transaction by clicking on the "broadcast" button. I know it seems simple and logical, but some users simply overlook the final step and wonder why that option doesn't work for them.

You can use RBF on Electrum for Android.

When making a transaction, make sure the checkbox for "Final" is left blank (this is its default setting). This will enable RBF. Then, if you need to bump your fee, on the "History" tab you simply tap on your unconfirmed transaction, tab "Options" at the bottom left, and then select "Bump fee" and choose your new fee.

Whenever I receive bitcoin from a stranger (which would be someone that either I do not trust or that I don't know their name or their address), so far I have always waited for at least one confirmation prior to giving over anything of value, such as cash.. so it is up to them if they pay a higher fee in order that they do not have to wait for the one confirmation.

Of course, if the transaction was for something that I considered to be great value, then I might wait anywhere between 3 and 6 confirmations... but most of the time, I have been o.k. with waiting for 1 confirmation, and I always disclose that before accepting payment in bitcoin.. and surely if the person was  friend or a family member, then I would not need to worry about getting at least one confirmation before transferring the item of value (or money).

Maybe none of us are experts, so sometimes issues can end up coming up, and I have had some issues in the past when dealing with strangers in which mistakes had been made, and surely some people are more honest than other people in terms of correcting the mistake.. to the extent that the mistake had not either been intentional or that once the mistake had been discovered, then sometimes people might NOT end up doing "the right thing" in terms of rectifying the situation.

It also curious me is there an android wallet that support this method Im fine if the wallet is closed source because I'm gonna using it for Hot wallet not hold a long period of time.

I know the method only Child-Pays-For-Parent (CPFP) but I just know RBF on mempool space, by using Native segwit transaction is cheaper but still sometimes there is a spike