I have enough in the wallet to cover it, so I don't know why I'm getting the output value error
For privacy reasons, Electrum will only use the related coins to the child transaction so it wont link your other UTXO with it.
The option you have is the "
manual method" via coin control linked above.
The disadvantage is you'll have to manually compute the total fee of the child and parent transactions by yourself.
Computation is basic math though:
Before that, get the
to-be-bumped (
parent) transaction's size and absolute fee (
electrum displays the size in bytes but it's actually already in vbytes, 'fee' is the total fee, not the 'fee rate')
For example: '250vbytes' and '0.00002500BTC' (
2500satoshi)
- Firstly, Create the child transaction as instructed in the link and take note of the pre-computed size in the 'New Transaction' window but do not finish/send it yet.
- Secondly, to get
your target fee rate the total size, get the sum of the parent and child's sizes, for example: '250vbytes' + '150vbytes' = '400vbytes' - Thirdly, with your target total transaction fee rate, '50sat/vbytes' for example; multiply it with that total bytes to get the required absolute fee: 400' x 50 = '20000 satoshi'
Then, Deduct the parent's absolute fee from the above to see how much you need to add to reach that target, for example: 20000sat - 2500sat = '17500satoshi' - Finally, set that as the fee of the child transaction or a few sats more if the final size ends up higher, tick "Edit fees manually" in the setting icon (upper-right) to be able to set an absolute fee.
If I'm willing to pay more for the transaction, I still don't understand how I can do that.
Be careful on that though, since the transaction that you're trying to bump with CPFP may also have an unconfirmed parent (
or more) with even lower fee rate that'll make your child transaction useless.
That's because your child transaction has to pay for those too to be able to bump the transaction that you're trying to bump.
So check if its input(s) are all confirmed or if unconfirmed, should have good fee rate.
