Topic: Custom Fee (Read 3237 times)

I was able to restore masterssed of Mycelium on Coinomi wallet and solve the issue as suggested by you.
Thanks again for help

Thanks,
I will try this as well

For me with my own experience if you really want to clean up your transaction better to export your private keys from mycelium only the address you use and where your bitcoin save.. after that export it in electrum once you imported you may now try to send a bitcoin to other bitcoin address if you can only 1 input..  if its still not working try to generate a new bitcoin address from electrum and send your bitcoin to the new address you use.. and should be work.. and never experience to pay a high fee for every transaction.

Thanks, I will do like this.
BTW with the BTC price constantly increasing, I think that micro trasactions (dust) will be always much more common than before. So someone has to find a solution (i'm sorry, I can't not. I'm a really new baby)

There is no reason you can't keep doing it... so if you want to go through all the hassle and waste time and potentially get your coins stuck in unconfirmed transactions by messing about with low fee transactions and bitcoin accelerators to try and save your dust... Then go for it.

What about if I do the masterseed transfer method to electrum every couple of months. It will mitigate the situation?

ALL bitcoin wallets will do this... it is just the way bitcoin works. Either stop collecting such small amounts, or live with the fact that you're going to end up with large transactions.

The only way to stop this is to not receive small amounts.

Thank you very much for your useful information, I will do it as soon as I can.

While I will continue to receive small transaction amount (from faucet or small investment) I think I will be in the same situation after few month.
Can I do the same process once every couple of month?
Do you have a android wallet (better if sync with desktop) that are not creating so many byte for receiving all the "dust" that I will continue to receive and has manual transaction fee option?

Thanks again for your help

not necessary
i already use coinb in on mobile and happy) no need some stupid soft that can stole money

There is a big difference between "need" and "want".

So, I suggest that you should either learn how to code and go add a custom fee feature (Mycelium is open source)... or maybe you need to consider a new wallet (like I did)... Users have been requesting custom fees forever... the Mycelium devs have been too busy adding in ads to the app to cover their costs after they apparently managed to spend all the "ICO" money... I wouldn't be holding my breath for a custom fee input any time soon.

you not understand 
we need CUSTOM putting

does not matter 300 satoshis/byte or 300000/byte, low prior or high prior.. we just need possiblity put custom fee, and please not explane us its good or bat ( i know what i doing)

1. Get 12 word seed from Mycelium
2. In Electrum... "File -> New/Restore -> Standard Wallet -> I already have a seed -> click 'Options' -> Check "BIP39 Seed" -> Enter 12 word seed from Mycelium -> Leave Derivation Path as m/44'/0'/0'/0"

Wait for Electrum to sync up... it should show your transaction history and balance pretty quickly (seconds), but your transactions will probably show as "Not Verified" until it has fully downloaded the blockheaders... might take a minute or two... if you select "Tools -> Network", you should see the "blocks" number counting up... once it reaches the height of the Blockchain, currently around 481,100 or so, it is fully synced...

NOTE: I'd probably recommend that you setup a completely new wallet in Mycelium with a new seed etc. before you send the coins back... by importing your seed to Electrum you are potentially exposing it.


Hard to say what is going to happen with transaction fees to be honest... keep an eye on this: https://blockchain.info/charts/mempool-count and https://btc.com/stats/unconfirmed-tx

When the mempool count is low (10K-15K or less), you should find that the fees come back down... in any case, as long as you use a fee that is higher than 10 sats/byte, you'll be able to use the ViaBTC TX accelerator... it can be hard to get one of the limited slots tho... and even when you do it can still take up to 12 hours for them to find a block. So you need to be aware that all your coins could be "stuck" for a while if you attempt this.

Perfect, your idea looks good to me. I have just to find out how to import my mycelium masterseed to electrum desktop. Do you have a step by step procedure for that? Or I just simply restore the backup of mycelium (12 words) with electrum desktop? (found this https://bitcointalksearch.org/topic/master-seed-1895725 should be ok for me because i have only 1 account)

Do you think that transaction will  be less expensive end of August?

You can't... the only way to consolidate inputs is to send them all in a transaction to yourself... so that you end up with 1 big giant input... that way, when you send future transactions, you'll be at minimum size. The problem with consolidation transaction is that you'll still end up needing to see one large transaction (and get hit with large fees)

To get around this, I'd suggest you import your Mycelium seed into a desktop version of Electrum... and then you can use manual fees to do a consolidation transaction that sends ALL your coins back to one of your Mycelium addresses with a low fee (minimum of 10.1 sats/byte)... then use ViaBTC TX Accelerator to push the transaction to get it confirmed.

You probably want to wait until the network is a little less congested tho... ViaBTC TX is very popular because fees got expensive again... and there are like 30K+ transactions unconfirmed.

How can I clean my wallet from all this "dust"? or how can I reduce the transaction size?

Your problem is that your wallet is full of dust. The wallet is using perfectly normal fees... 264 sats/byte for "Normal" and 175 sats/byte for "Low Prio"...

Currently, because of network congestion, fees got really high again... bitcoinfees.21.co says "The fastest and cheapest transaction fee is currently 300 satoshis/byte" and https://btc.com/stats/unconfirmed-tx is saying "291 sats/byte"...

If you look, you have 10 inputs for your 0.01!!?! Your transaction is 1524 bytes... a "normal" transaction is 226 bytes... your transaction is nearly SEVEN times the size of a normal transaction...

Try to avoid collecting lots of tiny inputs and you won't have this issue in the future.

i finished use mycelium some month ago for this reason ( impossible custom fee) and use now coinb.in also on mobile and happy

Hi,
I'm way far away from that transection fees, mine are insane!!
40% fee for a normal priority and a 20%fee for a low priority fee.
Is there a way to disable the function to get the price from this mycelium server?
I don't want to change wallet, but if the fees are so insane, I will be force to.
Look at the picture

http://imgur.com/a/7yGeM

http://imgur.com/a/O53gM

Please help

Gating custom fee with a pin entry and a big red warning message would be enough to scare off inexperienced users.

If users were made to jump through a lot of hoops to get to a custom fee setting window it's unlikely inexperienced users would use it. The devs could also add some code that compares a custom fee with the dynamic fee and warns about excessively high or low fees when someone tries to send a transaction. Other wallets already implement such warnings.

Maybe setting custom fees is too risky, many users will ignore the warning and mess things up by sending txs with ridiculous fees like 50 satoshi fee or so (not per byte, but in total  ). And then complain about their tx never coming through.

But currently, the automatic fees for the Low Prio and Economy settings are really WAY too high. I understand they are dynamic, which is great, but it doesn't reflect the current status of the network and memory pool.

Transactions with 20-30 sat per byte are currently getting confirmed without too much trouble. Typically within 2-3 hours. Transactions with 100 sat per byte or more get confirmed almost INSTANTLY (in first block after sending). Mycelium's lowest setting is currently 225 sat per byte or so, it's really way too high.

Can the dynamic fee algorithm please be updated? Transactions are unnecessarily expensive right now.

I agree. Those options recommended still is expensive. Seems like greediness is all around putting so high fees nowadays after the 200k+ unconfirmed transactions. Now that it lowers so much and as of this moment there are 29k unconfirmed transactions but the fee still is getting expensive.

This custom fee feature should have a warning before using it like it is only recommended by the use of professionals, if not then proceed with the recommended transaction fees or something like that.

30-40 sat/byte is not really recommended, it will take hours and even days if you use this, and I don't think Mycelium will do that tho there transaction fee is totally huge. But I'm always using 'low prio' and it always confirmed early than I expected maybe I just lucky.

And for this feature blockchain,info had this. Which you can set your fee by sat/byte I mean you're the only one who will put manually for the number of sat/byte. But never used it since I didn't use blockchain wallet for sending and not recommended IMO.

Any news on manual custom fees?

Even "low-priority" option is 150 sat/byte, when you can easily send a tx with just 30-40 sat/byte fee and get a confirmation in 6 blocks.

i cant say the best fee for 0.10 btc is 1$ its not normal..without custom fee setting mycelium is bad

Here I am a big fan of the mysellium and also a user of mysellium .
No doubt that we can set our cutom fee in the blockchain during transaction but in the mysellium their is four option for the fee.
If you will use low priority or normal then you will never face any problem of unconfirmed transaction because that is not fix amount of price the wallet of mysellium always set the fee during each transaction according the need of the fee that is necessary to confirm the transaction in 15-30 minutes .
Hope you understand .

Wouldn't this be more of an anti-feature though? Fool proofing the wallet so all transactions sent with it have some chance to sometime confirm is better IMO. More advanced users can use more advanced wallets.

Fees on mycelium is fine as it is, I personally don't see any problem on it, In fact the fixed fees helps to avoid unconfirmed/stuck transactions cause extremely low fees is the number one cause of it . I always use the normal fee and within 2-3 minutes, I can get at least a block confirmed .

@OP, Don't hesitate to use the priority fee, I assure you that It'll be quick .

Yeah, I think OP is aware of that.  I use mycelium as my primary wallet, and I've never really had a problem except when I send it low-priority, and I only did that once.  When I use 'economic', it usually goes through pretty damn quick--even when there's blockchain congestion.  But maybe I just got lucky.

There's already a custom fee function on Mycelium, you can choose from low-prio(lowest fee), economic, normal, and priority(highest fee) but there's no way you can manually edit the fee on your own. So the app choose whats the best fee for normal, depends the bytes of a transaction.

dear MT support !!! please add custom fee function

As what my experience in mycelium 25k sat can have 1 confirmation in just 2-4 minutes, but it will always depends to the network but mostly its only 2-4 minutes and will confirmed in just 15-20 minutes. And only priority is your option to make the TX fee more higher.

Hi Jacee,

no there currently is not.

Currently sending using priority will build a 90 satoshi/byte transaction, which when compared to the fees recommended is on the upper bound of the bracket.
http://imgur.com/jHrhKXd.png

Assuming you build a standard transaction the fee should more then enough to be included with the next block,
please see our article below, which goes into details how the fee is chosen, how transactions are affected by the fee and how you can estimate the confirmation time for a transaction.
http://support.mycelium.com/hc/en-us/articles/207130269

TL;DR:
Android:
If your wallet is up to date it will display the fee paid per byte at the bottom of the transaction details, which can be entered by selecting the Transaction within the Transactions-tab an choosing "Show Details" from the dropdown menu.
You can then check https://bitcoinfees.21.co to see what the current recommended fee is for a transaction to be included in the next block beneath the graphic in bold.

iOS:
Our iOS version does display the fee used broken down to sat/B, you can also go into the transaction details and copy the transaction id by long-pressing the transaction id and search for it, check your transaction id using https://www.smartbit.com.au, it will display the fee used in sat/B, which can also be compared to what https://bitcoinfees.21.co recommends.

ViaBTC is a mining group that will priotize your transaction if you have given it a fee of 0.0001 BTC or higher, you can provide them with your transaction id here https://www.viabtc.com/tools/txaccelerator/

Hope this helps

Is there a way to set a custom fee in my mycelium wallet? I see that blockchain today has so many unconfirmed transactions so I want to send a coin with a higher fee but once I set it to priority the fee was only 25k satoshi. I wat to atleast put 50k as fee to avoid being delayed in confirmation.