delayed electrum transaction | Bitcointalksearch.org

nc50lc

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Quote from: Findingnemo on December 17, 2022, 09:24:36 AM

-snip-
I mean wrong calculation of fees like over paying or paying less than what mempool suggests us to use.

That's because it's not only based from the server's mempool,
it's mostly based from Bitcoin Core's estimatesmartfee which gets its estimation on the previous blocks and mempool.
It usually overpays/underpay if the previous blocks have more high/low fee rate transactions than usual.

Anyways, I'm telling OP that his fee rate is "alright" and setting an example that will likely not require him to increase the fee rate than what he usually pays,
he don't have to increase it in all situations:

Quote from: nc50lc on December 09, 2022, 12:51:03 AM

Quote from: DaNNy001

Okay my next transactions i will just increase the charge rate to speed up the whole process to avoid any delayed transactions

Most of the time, this isn't necessary specially if you're using "ETA" fee slider which has quite high recommended fee rate.
As long as it's telling you "In the next block" or "Within the next 2 blocks", the fee is alright.
The issue was: there's an unconfirmed parent transaction.

Findingnemo

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Quote from: nc50lc on December 17, 2022, 12:11:24 AM

Quote from: Findingnemo on December 16, 2022, 11:01:26 AM

Quote from: nc50lc on December 09, 2022, 12:51:03 AM

-snip-

Some times Electrum ETA give wrong calculation of fee too which I personally experienced multiple times so I am practicing the habit of checking current fee for next block in Mempool space before choosing the fee on Electrum.

I don't know what you mean by "wrong calculation" because as the name of the slider suggests:
ETA = Estimated Time of Arrival, it's more of an "estimation" than a guaranteed timeframe.

My post is only to tell OP that increasing the fee isn't the best course of action in his case.

I mean wrong calculation of fees like over paying or paying less than what mempool suggests us to use.

I know that mempool can clog too quick than we imagine but I am not talking about the guaranteed time or anything.

nc50lc

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Quote from: Findingnemo on December 16, 2022, 11:01:26 AM

Quote from: nc50lc on December 09, 2022, 12:51:03 AM

-snip-

Some times Electrum ETA give wrong calculation of fee too which I personally experienced multiple times so I am practicing the habit of checking current fee for next block in Mempool space before choosing the fee on Electrum.

I don't know what you mean by "wrong calculation" because as the name of the slider suggests:
ETA = Estimated Time of Arrival, it's more of an "estimation" than a guaranteed timeframe.

My post is only to tell OP that increasing the fee isn't the best course of action in his case.

hosseinimr93

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Quote from: Findingnemo on December 16, 2022, 11:01:26 AM

Some times Electrum ETA give wrong calculation of fee too which I personally experienced multiple times so I am practicing the habit of checking current fee for next block in Mempool space before choosing the fee on Electrum.

The problem is that there is no way to calculate how much you should pay as transaction fee, so your transaction is confirmed in a certain time. When you broadcast your transaction, you don't know what will happen to the mempool in the next minutes or hours and that's why you can only estimate the required fee rate.
Since different tools may use different methods for estimation of required fee rate, it's completely normal that they give you different estimations.

Findingnemo

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Quote from: nc50lc on December 09, 2022, 12:51:03 AM

Quote from: DaNNy001 on December 07, 2022, 01:02:47 PM

Okay my next transactions i will just increase the charge rate to speed up the whole process to avoid any delayed transactions

Most of the time, this isn't necessary specially if you're using "ETA" fee slider which has quite high recommended fee rate.
As long as it's telling you "In the next block" or "Within the next 2 blocks", the fee is alright.
The issue was: there's an unconfirmed parent transaction.

Some times Electrum ETA give wrong calculation of fee too which I personally experienced multiple times so I am practicing the habit of checking current fee for next block in Mempool space before choosing the fee on Electrum.

nc50lc

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Quote from: DaNNy001 on December 07, 2022, 01:02:47 PM

Quote from: nc50lc on December 06, 2022, 09:15:28 PM

-snip-

another lesson learned today about transactions on the electrum wallet. Thank you sir for this insight and making me understand more on how transactions are carried out on the crypto space but am curious to know if this works for every wallet transactions involving bitcoin.

Yes to non-custodial wallets since transactions have to be included in the blockchain.
For transactions with unconfirmed parent, the parent has to be confirmed first or together with the child transaction(s).
Bitcoin withdrawals from custodial wallets/exchanges also subjected by this but you do not have the control on the fee rate, their charged "withdrawal fee" wont be directly used as transaction fee.

For transfers between non-custodial wallet (e.g.: Coinbase to Coinbase), it's different;
on-platform transactions wont use the blockchain so there'll be no on-chain fee nor waiting time for confirmation.
The downside is, they own your bitcoins.

Quote from: DaNNy001

Okay my next transactions i will just increase the charge rate to speed up the whole process to avoid any delayed transactions

Most of the time, this isn't necessary specially if you're using "ETA" fee slider which has quite high recommended fee rate.
As long as it's telling you "In the next block" or "Within the next 2 blocks", the fee is alright.
The issue was: there's an unconfirmed parent transaction.

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Quote from: DaNNy001 on December 07, 2022, 01:02:47 PM

Okay my next transactions i will just increase the charge rate to speed up the whole process to avoid any delayed transactions

I think you still didn't understand what CPFP is. You don't just increase the transaction fee you need to calculate and check the mempool stats, the parent transaction, and your transaction size to put the right TX fee that can cover the parent transaction the formula is already posted by khaled0111 above.
However, I suggest you to read this [TUTORIAL]getting a low-fee transaction unstuck by creating a CPFP with electrum

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Quote from: DaNNy001 on December 07, 2022, 01:02:47 PM

Okay my next transactions i will just increase the charge rate to speed up the whole process to avoid any delayed transactions

For the next transactions you should go to websites like http://mempool.space and take a look.
You will see whether the mempool is congested or not (if it's not, then minimum fee is fine). You will see how often the last few blocks were mined keep in mind that the average is meant to be 10 minutes, hence you can try to do an educated guess what's going to happen next.
All this can help with the fee and can also help avoiding headaches.

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Quote from: nc50lc on December 06, 2022, 09:15:28 PM

Quote from: DaNNy001 on December 06, 2022, 12:30:59 PM

My reason for creating this thread is today is that today is going to be the first time for me to be transacting with my electrum wallet after i was encouraged by the forum top to move my coins from an exchange platform to a wallet with which I have full control(electrum) .

Transaction is now confirmed: https://www.blockchain.com/btc/tx/945e21d24a152b28602de318b2a05e754468c23b46f0db76a5ca148968ddaa4c

In your next transactions:
If you want to avoid creating transactions with unconfirmed parent, you can enable the option: "Tools->Preference->Transactions->Spend only confirmed coins".
But take note that if you do not have other confirmed "Unspent Transaction Output" (UTXO/Coin),
Electrum wont be able to send until there's a suitable amount that's confirmed. ("View->Show Coins" to see the Coins tab)

another lesson learned today about transactions on the electrum wallet. Thank you sir for this insight and making me understand more on how transactions are carried out on the crypto space but am curious to know if this works for every wallet transactions involving bitcoin.

This forum is really something else and i think i am really at the right place to gather as much knowledge as i can to help me build myself on the technological advancement of the crypto space.

Okay my next transactions i will just increase the charge rate to speed up the whole process to avoid any delayed transactions

nc50lc

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Quote from: DaNNy001 on December 06, 2022, 12:30:59 PM

My reason for creating this thread is today is that today is going to be the first time for me to be transacting with my electrum wallet after i was encouraged by the forum top to move my coins from an exchange platform to a wallet with which I have full control(electrum) .

Transaction is now confirmed: https://www.blockchain.com/btc/tx/945e21d24a152b28602de318b2a05e754468c23b46f0db76a5ca148968ddaa4c

In your next transactions:
If you want to avoid creating transactions with unconfirmed parent, you can enable the option: "Tools->Preference->Transactions->Spend only confirmed coins".
But take note that if you do not have other confirmed "Unspent Transaction Output" (UTXO/Coin),
Electrum wont be able to send until there's a suitable amount that's confirmed. ("View->Show Coins" to see the Coins tab)

hosseinimr93

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It's good that you are using electrum instead of keeping your coins on an exchange. Now you have full control over fund and note that the delay in confirmation of your transaction isn't electrum's problem.
Transactions are prioritized based on their fee rate. The more fee rate you set for your transaction, the faster it can be confirmed.

As mentioned by khaled0111 above, your transaction has an unconfirmed parent. That makes the situation worse.
If you aren't in hurry, just wait. I expect your transaction to be confirmed in the next 24 hours.
If you are in hurry, you can bump the transaction fee. Of course, since you are transacting only 9000 sat, I don't think it's worth it.

khaled0111

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It's taking longer than what you were expecting because it's a child pays for parent transaction (CPFP).
The parent transaction/ancestor (which output is used as input) hasn't been confirmed yet and it needs to be confirmed before or at the same time as the child transaction.
Your transaction is paying 7.26 sat/vB but the effective fee rate is only 3.99sat/vB (fee paid by parent + fee paid by child / total vSize of both transactions)

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Quote from: DaNNy001 on December 06, 2022, 12:30:59 PM

Well my stay in the forum has been quite a journey so far and i have learnt and gained more knowledge than i even expected. I wont believe if someone actually told me i would be having a wallet and not to talk of transacting with this wallet is just a great achievement for me . The encouragement i got from top forum members after my first purchase in bitcoin was really encouraging and i just believe that with what i have learnt and i know now, i feels this is the perfect time in the crypto space to buy bitcoin.

My reason for creating this thread is today is that today is going to be the first time for me to be transacting with my electrum wallet after i was encouraged by the forum top to move my coins from an exchange platform to a wallet with which I have full control(electrum) .

Now i donno know but i feel its taking too long for a transaction i made to be confirmed please guys what do you think is the problem of this transaction

As of now your transaction is here:

https://mempool.space/tx/945e21d24a152b28602de318b2a05e754468c23b46f0db76a5ca148968ddaa4c

About 4 blocks from the tip, the fee is a bit low but not horrible, since its RBF you can always bump the fee a bit if you need it sooner or just wait and it should clear in a little while.

Unless something happens should clear overnight (US time) no matter what as the mempool has been emptying every night for the last few days.

-Dave

DaNNy001

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Well my stay in the forum has been quite a journey so far and i have learnt and gained more knowledge than i even expected. I wont believe if someone actually told me i would be having a wallet and not to talk of transacting with this wallet is just a great achievement for me . The encouragement i got from top forum members after my first purchase in bitcoin was really encouraging and i just believe that with what i have learnt and i know now, i feels this is the perfect time in the crypto space to buy bitcoin.

My reason for creating this thread is today is that today is going to be the first time for me to be transacting with my electrum wallet after i was encouraged by the forum top to move my coins from an exchange platform to a wallet with which I have full control(electrum) .

Now i donno know but i feel its taking too long for a transaction i made to be confirmed please guys what do you think is the problem of this transaction

Topic: delayed electrum transaction (Read 215 times)