Electrum fee under 1 sat/byte - page 2.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

Quote from: Abdussamad on May 19, 2019, 09:34:42 AM

Bitcoin core's default policy for minimum relay fee is 1000 sats per kb (1sat/byte - 1000 bytes per kb here). This is the default but can be customized by every full node operator. Most don't change it though so that's why you won't find many servers willing to accept a lower fee transaction. If you need to make such transactions on a regular basis you should make some arrangement with a miner. Such a low fee transaction can be mined and once mined it will be accepted by the whole network. Of course an arrangement with a miner will cost you more than 1sat/byte unless you are a very heavy user.

Did they stop the new rollout that came with the version 0.18 where they said they were going to reduce it to 0.25 sat per byte? Am I dreaming or was this not a thing a while back (speculation if nothing else).

o_e_l_e_o

legendary

Activity: 2268

Merit: 18771

Quote from: nc50lc on May 19, 2019, 11:02:27 PM

The only way to make the transaction is by using other tools like coinb.in by exporting the required private key(s) for signing and broadcast it to his own node or other's node/services that supports lower/0 fee.

Even if he finds a node which would broadcast it, the vast majority of other nodes won't relay it. If it isn't relayed between nodes, it will never been seen by miners. And if miners don't see it, they can't mine it. And even if they do see it, they won't bother mining something with zero fees.

The only way to get it confirmed at zero fees would be to mine it himself, or to externally pay another miner to mine it for him.

nc50lc

legendary

Activity: 2618

Merit: 6452

Self-proclaimed Genius

Quote from: pooya87 on May 19, 2019, 10:38:33 PM

Quote from: nc50lc on May 19, 2019, 10:12:59 PM

-snip-

he is trying to send a transaction with a fee lower than 1 sat/byte, -snip-

Oh, I missed that "under" word, I thought that the server he was connected to doesn't support 1sat/byte fee txs (lol). You don't need to correct me about bradcasting, it's because of that "missed word"

With that, he wont be able to open preview window (even offline), tried it on v3.3.3.

The only way to make the transaction is by using other tools like coinb.in by exporting the required private key(s) for signing and broadcast it to his own node or other's node/services that supports lower/0 fee.
It wont be relayed by almost all nodes though, maybe the question is theoretical.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: nc50lc on May 19, 2019, 10:12:59 PM

Create the transaction with 1sat/byte fee and click 'preview'.
Browse in to any Bitcoin blockexplorer/tool that supports 'broadcast', paste the copied TX and broadcast it from there.

he is trying to send a transaction with a fee lower than 1 sat/byte, otherwise setting it to 1 and broadcasting it is easily with Electrum.
also the problem is not with broadcasting, it is with who you are sending it to. and the "who" is bitcoin nodes that 99.9% of them are enforcing the same fee rules to reject anything below 1 sat/byte.

nc50lc

legendary

Activity: 2618

Merit: 6452

Self-proclaimed Genius

Here's a workaround to that (aside from selecting a server with default node setting for minimum fee):

Create the transaction with 1sat/byte fee and click 'preview'.
On the preview window, click 'sign' and type your passphrase.
Now, instead of clicking 'broadcast', hit 'copy' to copy the RAW transaction HEX to the clipboard.
Browse in to any Bitcoin blockexplorer/tool that supports 'broadcast', paste the copied TX and broadcast it from there.

Notes:
∙ You don't need to hit save after broadcasting it online since it will be included in the history tab after a while as long as your client is online/synced.
∙ If your selected server didn't relay your tx (from the online blockexplorer's node) it may mot reflect your history tab 'til it got confirmed.
∙ Most online blockexplorer's node accepts 1sat/byte transaction.

o_e_l_e_o

legendary

Activity: 2268

Merit: 18771

The relay fee is the minimum fee required for your chosen server or node to propagate that transaction to other servers or nodes. If your transaction is below this fee, it will not be broadcast. See: https://bitcoin.org/en/glossary/minimum-relay-fee

You can try using a different server by following my instructions below, but you will find most servers will reject a transaction below 1 sat/byte. You will most likely need to increase the fee to above 1 sat/byte.

First of all, make sure you have the latest version of Electrum from the official site, and you have verified it prior to installing. In Electrum, go to Tools -> Network. Uncheck "Select server automatically". Right click on another server on the list and select "Use as server". Wait for your client to sync with the new server, and then try to broadcast your transaction again.

Abdussamad

legendary

Activity: 3710

Merit: 1586

Bitcoin core's default policy for minimum relay fee is 1000 sats per kb (1sat/byte - 1000 bytes per kb here). This is the default but can be customized by every full node operator. Most don't change it though so that's why you won't find many servers willing to accept a lower fee transaction. If you need to make such transactions on a regular basis you should make some arrangement with a miner. Such a low fee transaction can be mined and once mined it will be accepted by the whole network. Of course an arrangement with a miner will cost you more than 1sat/byte unless you are a very heavy user.

Pmalek

legendary

Activity: 2730

Merit: 7065

The current minimum fee for a transaction to get accepted is over 20 Sat/Byte according to https://www.coinb.in/#fees.
The chances of a 1 sat/byte transaction to get accepted anytime soon are slim considering that Bitcoin has started another rally as it seems so you should reconsider doing that if you need your transaction to get confirmed anytime soon.

BitcoinGirl.Club

legendary

Activity: 2800

Merit: 2736

Farewell LEO: o_e_l_e_o

Don't be too stingy 🙂
Just let the miners have some dust.
I usually use 2 to 10 sat/B.

CoinSkipper

member

Activity: 136

Merit: 10

Hello Everyone Grin

I would like to send transaction under 1 sat/byte from Electrum.
When I change fee manually there is message:

Code:

This transaction requires a higher fee, or it will not be propagated by your current server
Try to raise your transaction fee, or use a server with a lower relay fee.

Is there anyway to send this transaction? Do you know any Electrum servers that allow to send transactions with fee under 1 sat/byte?

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