Topic: Electrum Wallet RBF Feature - page 2. (Read 496 times)

It's not true that fees are always rising, and it's easy to confirm that on mempool.space Graphs page.
There are periods of higher and lower blockchain activity, but everything can change quickly, and fees can be much higher during the bullrun.

In general, weekends are cheaper than weekdays, and the cheapest period is usually between around 00:00 and 06:00 UTC.

However, this is very much a generality, and will not hold true 100% of the time. Particularly at the moment, fees are higher than usual for a couple of reasons. We still have plenty of ordinal spam clogging up the lower fee rates, there has been a couple of recent big swings in the price which always results in lots of transactions as people move coins to and from exchanges, but most importantly we are around 60 blocks behind where we should be for this difficulty period. If you knocked 60 MvB off the mempool we would be down in to the 5 sats/vbyte range.

As I said above, it could take months for the mempool to settle back down again. If you don't need to spend these outputs, then there's no rush.

Using 12 sat/vbyte is not expensive and it will get your transaction confirmed probably in the next mined block.

Transaction fee is cheaper during weekends. But do not be surprised if you see a weekend that mempool will become more congested and transaction fee will become high.

I have been watching the mempool (https://mempool.space/) often now, but found that instead of decreasing fee, it is always on the rise.

Is there any particular time of the day, when the transaction fee is less ? and one can do the transactions at that time. Also, when more people are using bitcoin, then the mempool fee is high and less when few people are using the bitcoin network. Is it so ?

Bitcoin transactions are based on outputs, not on balances. Every time you receive some bitcoin, that creates a new output, even if you receive to the same address multiple times. Each of those outputs remains separate until you combine them in a transaction as you just did, and when you do you must pay a fee for each individual output, regardless of how much bitcoin is on that output. I can see you had outputs ranging from around 10,000 sats up to 0.02 BTC.

Think of it like receiving physical coins and putting them in your pocket. Even if you receive hundreds of coins, they don't magically turn in to a $20 bill in your pocket. Only by spending them altogether and getting back a $20 bill in change can you combine them in to a single output.

Yes, this was the reason for the high fee. You had plenty of outputs which could have made the 20,000 sat payment on their own. Instead your wallet chose to consolidate every output you had in the same address and return the rest to you in a single output as change. This will benefit you in the future by saving you fees in the long run, but as I said above, you could have performed this consolidation at a better time to pay less fees now as well.

Electrum has a feature known as coin control which allows you to spend just a single output when making such a transaction rather than consolidating all your outputs, if you wish.

There will always be a change address unless you spend an output completely. Bitcoin cannot "leave behind" some part of an output. If you have an output of 20,000 sats and you send it all to the recipient (minus the fee) there will be no change. If you have an output of 100,000 sats and you pay 20,000 sats, the rest will be sent back to a fresh change address you control. You cannot skim off 20,000 and leave the other 80,000 behind.

If you don't need to spend those other outputs now, then just wait. At some point in the coming weeks or months the fee will be likely to reduce somewhat.

Yes, i again increased the fee to 7 sat/vbyte and got my transaction confirmed but i was wondering why i got so high fee. If i remember it correctly it was around 0.00021064.

After reading your post, i came to know that even if we receive small amounts on the SAME bitcoin address, when we withdraw from that wallet, it will detuct a lot of fee. Don't know the reason for this as all the bitcoin are in the same wallet address.

Another thing was that i only send around 5$ to some address, why it used a change address in the transaction and move all my funds to a new address in my wallet. Maybe this was the reason of high fee    

How to send to certain wallet without using the change address  

Another question is that since the fee these days is always above 6Sat/vbyte usually, when can we perform that consolidations as you mentioned ?

This is not correct. The old transaction remains perfectly valid. The new higher paying transaction is far more likely to be confirmed in a block, but there is nothing stopping a miner from including the old one if they choose or if they don't learn about the new one for some reason.

I can see that OP has bumped his fee again, this time to 7 sats/vbyte, and his transaction has now confirmed. I would also suggest to OP that I don't know where he is getting his bitcoin from, but receiving >40 outputs to the same address, some of only a few thousand sats, is a very inefficient way to use bitcoin. You should try to receive larger amounts less frequently if you can. And given that almost all of those outputs predate the current surge in fees, I don't know why you've chosen to consolidate them now when you could have consolidated them at 1 sat/vbyte almost any time over the past year.

It seems that you have completely misunderstood what are "opt-in RBF" and "full-RBF". The terms have nothing to do with what output is created by your transaction.
Full RBF is a setting for nodes. If a node has been enabled "full RBf", it will allow all unconfirmed transactions in its mempool to be replaced by a new one paying higher fee even if they have not been flagged as RBF.  

Your first problem was to minimize the fee while sending bitcoins through the Electrum wallet and for this reason, you choose to modify the default fee and put the minimum fee but this was always going to be inefficient for the transaction to become confirmed.

You have already increased the fee through RBF and your transaction may confirm (still 4satoshi per vbyte may still take a lot of time to confirm.)

However, moving forward you should have a better understanding of how the fee works and the role of Mempool etc. I would recommend you read this before making any further transactions through Electrum Wallet Minimize your transaction fee with Electrum wallet

Also, this is worth reading [Jul 2023] Fees are low, use this opportunity to Consolidate your small inputs!

The transaction fee isn't actually directly paid to miners once you broadcasted the transaction.
It's part of the transaction in the form of the difference between the inputs and the outputs' amount.

When you replaced the transaction via RBF, you re-selected the "OLD TX" input(s) and used it on the "new TX".
That invalidated 'OLD TX' on your server's mempool.

How about the fee?
The "new TX" has just adjusted either the amount of the 'output', 'change' or added another input to set a higher required fee rate.
Basically, yes it's added to it as a requirement for replace-by-fee.

From its name, Replace-by-fee, you replace an unconfirmed transaction with a new transaction (it may be with the same output "opt-in RBF" or new output "full-RBF") but with higher fees according to the RBF rules, and when the miner wants to include this transaction in the block, it is listed first Because their fees are higher. the old transaction is invalid, and the new transaction is the one that will be confirmed, but its fees will definitely be higher than the previous one.

Then I suggest you to look https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,count or https://mempool.space/

As far as I checked the fee never dropped below 6sat/vbyte in the last 4 days time frame so you can wait or proceed with another fee bump which is should be 7 or more sat/vbyte if you expect the transaction to be confirmed sooner.

The new transaction invalidates the old transaction as it replaced it.

You paid 2 sat/vbyte. When you wanted to increase or pump the fee, you saw the 2 sat/vbyte which you edited to 4. That means you added more 2 sat/vbytes.

If you need it to be confirmed faster, use 7 sat/vbye. I mean pump the fee again with 3 sat/vbyte. Assuming you used 7 sat/vbyte, the transaction would have been confirmed by now.

It doesn't get lost. The new RBFed transaction replaces the old transaction. Hence, when you're sending the new RBF transaction, you're spending the same inputs (additional, if you didn't have enough BTC) but just paying more fees this time.

When your transaction gets RBFed successfully, it just gets dropped. It is as if that transaction has never happened.

I recently used the RBF feature in the Electrum wallet.
What happened was that I send some amount but put a fee of 2satoshi - Fee per vbyte, it was showing it will take 1 day for confirmation.
So after about 18 hrs, i decided to use the RBF feature for the very first time. I increased the fee to 4satoshi - Fee per vbyte and broadcast the transcation.

Now when i check the old Tx, it says it is not found. 

OLD TX, NOT FOUND



I see a new TX ID and it is still pending confirmation.

My question is that the fee which i paid in the old tx, 0.00005064 BTC, where does it goes? Is it lost?

Because in my new TX, the fee is 0.00012064 BTC (4.0 sat/vB) or did the OLD tx fee added to it 

Also how long will it take for this new transaction to be confirmed with 4.0 sat/vB fee ?