Topic: How long does it need to confirm a transaction (Read 281 times)
This is a big concern in blockchain technology . It depends on the mining pools and how much time they take to solve the puzzle. Sometimes , transaction are delayed especially in exchangers where some wallets are in maintenance where funds are not released yet, which causes this huge delays. Any ways , try to avoid sending shit coins and just send in BTC , ETH and LTC.
I agree with this, well if you are in a hurry you can at least increase your fees. Electrum will let you set your own fees.
Important to note that in Electrum, you can actually see how far your transaction is from the mempool tip when it's still unconfirmed. The XX.XX MB size you can find in the date section represents the distance.And even if you don't have RBF, child-pays-for-parent transactions work! Unconfirmed inputs can help in confirming the previous transaction if the fees are high enough to compensate the size.
Thanks to all of you! It‘s now confirmed. Next time I’m going to use a better fee
No, you should not.Instead of joining fee race, you should better make your plan. As you see, on the same day, you can move your bitcoin with fee rate at 3 satoshis/ (v)byte that is 20-fold cheaper than what you used. There are some tutorial to consolidate your inputs and plan your transactions on weekends. See at that post
I agree with this, well if you are in a hurry you can at least increase your fees. Electrum will let you set your own fees.
Just to give everyone else an idea, I have accidentally set a fee of 1.333 sat/B - 0.721 sat/WU - 1223 bytes, last Aug 31, didn't RBF, I just wait till it gets confirmed. And it took 2 days before I see the transfer. Doesn't matter though as I'm not in a hurry.
I recommend you OP to check this thread for reference the next time you want to make a low fees with fast transaction. https://bitcointalksearch.org/topic/bitcoin-transaction-fees-in-satskb-sunday-saturday-are-best-to-move-btc-5250569
The network is usually congested due to the fact that there are many bitcoin users from around the world. If you wish to make a low fee and fast transaction then you should consider the time and day to do the transaction. In my opinion the best time to make a transaction is sunday dawn. Usually the network is not congested in that day and time however it will still depend on the crypto market. You can try to do it next time for you to see.
The network is usually congested due to the fact that there are many bitcoin users from around the world. If you wish to make a low fee and fast transaction then you should consider the time and day to do the transaction. In my opinion the best time to make a transaction is sunday dawn. Usually the network is not congested in that day and time however it will still depend on the crypto market. You can try to do it next time for you to see.
i use electrum wallet and set 61,7 sat/bit (dont know how i can answer to your maseges)
The fee is probably low enough, therefore, it takes more time to confirmation, moreover when the traffic is very crowded, you need to make it speedup by adding or increasing the fees. I ever faced this thing where almost 2 days my transaction was not successful. Until I increase the fee and it only takes less than 2 hours to be successful. Of course, the fee may be twice higher than usual, but it will give a good impact on the process. However, if you do not mind to increase the fee, just wait for the confirmation done. It may take some longer time. You may not worry as long as your address is correct and no mistakes. Your BTC will be sent to the address. BUt of course, need more patience here.
You can read some useful information here:
https://electrum.readthedocs.io/en/latest/faq.html
Also in getting curious too because OP opens this kind of topic.
What is the preferred transaction fee?
How long you will wait if you make a 1 sat/byte?
Also, can someone help me with the use of this mempool?
Most of the time I'm taking transaction with my wallet and there is only fix transaction fee and I'm getting curious talking about some these sat per byte.
1. The optimal transaction fee keeps changing every minute depending on how many unconfirmed transactions keep piling up in the mempool. So best way to get the best current transaction fee is by looking at mempool observers like https://mempool.spaceWhat is the preferred transaction fee?
How long you will wait if you make a 1 sat/byte?
Also, can someone help me with the use of this mempool?
Most of the time I'm taking transaction with my wallet and there is only fix transaction fee and I'm getting curious talking about some these sat per byte.
JeromeTash is right, you need to wait longer time until the network is not congested or you use replace by fee.
Also is there are specific time which prefer to make a transactions?2. Again depending on the state of the network it could get confirmed within minutes to a week or so. If you sent out BTC at that transaction fee rate right now, you could have to wait for days before it gets confirmed because there are so many uncomfirmed transactions with higher fee rates than your of 1 sat/byte that have to first be included in blocks by miners.
3. What kind of wallet are you using?
You could read more about mempool to have a clear understanding of what it is
4. Lately, Saturdays and Sundays are the days when bitcoin fees are usually at the lowest because the mempool is usually less congested during those days. You can easily get your 1 sat/byte transaction get confirmed unlike weekdays.
Also in getting curious too because OP opens this kind of topic.
What is the preferred transaction fee?
How long you will wait if you make a 1 sat/byte?
Also, can someone help me with the use of this mempool?
Most of the time I'm taking transaction with my wallet and there is only fix transaction fee and I'm getting curious talking about some these sat per byte.
What is the preferred transaction fee?
How long you will wait if you make a 1 sat/byte?
Also, can someone help me with the use of this mempool?
Most of the time I'm taking transaction with my wallet and there is only fix transaction fee and I'm getting curious talking about some these sat per byte.
JeromeTash is right, you need to wait longer time until the network is not congested or you use replace by fee.
Also is there are specific time which prefer to make a transactions?
Most of the time I'm using a transaction fee of 110/111 sat per byte which takes almost 30 minutes before I received and right now I'm trying with the use of 10 sat per byte and now its already 18 hours and the transaction do still not confirm.
This probably means that you're making your transactions when the network is usually busy (around 6 hours from now according to my timezone). You could save a lot of fees if you plan your tx accordingly, as mentioned above. 10 sats/vbyte is more than enough on Saturday/Sunday. ....I recommend increasing the transaction fee up to 90 sat per byte above if you want a faster transaction but if you don't really need the funds immediately you can use a lower transaction fee.
This is not the best recommendation. You could always check the mempool first to see how congested the network is before deciding on the fee. There will be instances that transactions with 30 sats/byte fee or lower confirms at the same time as sending with 90 sats/byte.JeromeTash already mentioned https://mempool.space for monitoring and tranthidung explained why you shouldn't just increase the fee.
Another site for mempool monitoring is https://jochen-hoenicke.de/queue/#0,24h
Most of the time I'm using a transaction fee of 110/111 sat per byte which takes almost 30 minutes before I received and right now I'm trying with the use of 10 sat per byte and now its already 18 hours and the transaction do still not confirm.
I recommend increasing the transaction fee up to 90 sat per byte above if you want a faster transaction but if you don't really need the funds immediately you can use a lower transaction fee.
I recommend increasing the transaction fee up to 90 sat per byte above if you want a faster transaction but if you don't really need the funds immediately you can use a lower transaction fee.
Thanks to all of you! It‘s now confirmed. Next time I’m going to use a better fee
No, you should not.Instead of joining fee race, you should better make your plan. As you see, on the same day, you can move your bitcoin with fee rate at 3 satoshis/ (v)byte that is 20-fold cheaper than what you used. There are some tutorial to consolidate your inputs and plan your transactions on weekends. See at that post
Thanks to all of you! It‘s now confirmed. Next time I’m going to use a better fee
i use electrum wallet and set 61,7 sat/bit (dont know how i can answer to your maseges)
The fee rate should be used correctly as sat/ byte or sat / (v)byte. (v)byte ~ virtual byte.If your transaction were broadcasted yesterday, at 61,7 sat/ (v)byte, I think it was confirmed already. The mempool was cleared a little bit about 18 hours ago. At that time, transactions with fee rate above 3+ sat/ (v)byte can be confirmed so yours should be confirmed too.
Recent hours, mempool has been filled up again.
The others give you good advice that you should choose the option Replace-by-Fee for your Electrum wallet. In case your transaction is stucked, unconfirmed but you are suddenly in a hurry, you can boost the fee. The option must be chosen before you broadcast your transaction. If not, you can not boost the fee later.
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if you can not be able to do that, go to settings, you will see replace by fee, click on it and set it to ON. Then go back to the transaction, click on it, you will see pump fee, then you can pump the fee.
No, it does not work in that way. When you send a transaction, you have to set RBF opt-in in order to enjoy the privilege of increasing the fee. So, if you do not opt-in RBF before sending a tx, you are unlikely to be able to increase fee.There are other ways although.
i use electrum wallet and set 61.7 sat/b but i think it must be there till now. i dont have any money on my wallet so i think i cant do rbf. how long do you think its gonna take?
That is fine, if the transaction is not yet confirmed, you can pump the fee. Just click on the transaction, then you will see an icon to pump fee, if you can not be able to do that, go to settings, you will see replace by fee, click on it and set it to ON. Then go back to the transaction, click on it, you will see pump fee, then you can pump the fee. But as you do not have enough funds again to do that, you will need to wait, do not panic, the transaction will still be confirmed later, but it can take longer time when the network is not congested. 
i use electrum wallet and set 61.7 sat/b but i think it must be there till now. i dont have any money on my wallet so i think i cant do rbf. how long do you think its gonna take?
Probably it will be confirmed somewhere during morning GMT time, when transactions usually slow down, that's some 7-8 hours from now.
Since you can't do RBF, you can try submitting your tx at Viabtc accelerator, try to do it as fast as possible at the beginning of the hour, they have only 100 spots and they get filled in one minute or two when the mempool is congested.
Hello,
This is a common problem, don't worry about it, it will eventually be confirmed. Sometimes, even if you keep high fee, due to congestion in the meme pool, it might still be left out.
You can check the priority of your transaction on this website. Just paste your transaction ID and it will show your transactions priority in regard to other transactions pending to be confirmed.
If it is of urgency to you, then you may consider getting it rebroadcasted by 3rd party services so that it gets picked up in the next block.
This is a common problem, don't worry about it, it will eventually be confirmed. Sometimes, even if you keep high fee, due to congestion in the meme pool, it might still be left out.
You can check the priority of your transaction on this website. Just paste your transaction ID and it will show your transactions priority in regard to other transactions pending to be confirmed.
If it is of urgency to you, then you may consider getting it rebroadcasted by 3rd party services so that it gets picked up in the next block.
i use electrum wallet and set 61.7 sat/b but i think it must be there till now. i dont have any money on my wallet so i think i cant do rbf. how long do you think its gonna take?
It is 91 sat/byte even for 25 block transaction in electrum so I guess it will take a day or more for the transaction to get confirmed.Next time better use the recommended fee which is available even in eletrum wallet as well.Or if you want to speed the transaction then you need to send some money to your electrum and have to replace the fee with high sats.
i use electrum wallet and set 61.7 sat/b but i think it must be there till now. i dont have any money on my wallet so i think i cant do rbf. how long do you think its gonna take?
Yes, replace by fee can be used to increase the transaction fee so that the transactions can be placed in block as early than before. If the wallet does not support RBF, he can still use bitcoin accelerator, there are some accelerator provided by mining pools, or he can make use of CPFP if he still have bitcoin on his wallet he want to send to someone after making the transaction. But for now, I think we should ask the OP the wallet he is using so that we can give him better advice.
OP, which wallet are you using? Does it support RBF? JeromeTash is right, you need to wait longer time until the network is not congested or you use replace by fee.
OP, which wallet are you using? Does it support RBF? JeromeTash is right, you need to wait longer time until the network is not congested or you use replace by fee.
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