How to speed up btc transfers | Bitcointalksearch.org

Pmalek

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Quote from: Smartvirus on May 24, 2023, 06:11:35 PM

Isn't that the same thing? Having an adjustable fee even within a ranging system of 1,2,5,10...300 sat/vbyte. What other customisation can one need than that.

Full fee customization means that I can pick any number I want, not the ones the software specifies. If it goes 1, 2, 5..., where is the 3 and 4? Not only that, but maybe I would like to pay 5.5 sat/vByte and not 5 or 6. Electrum mobile doesn't allow me to do that. It's not that important if you are sending a transaction and paying 70 or 70.5 sat/vByte. But back when the fees were low, there was a big difference between 1 and 2 sat/vByte. Even a 1.5 sat/vByte is 50% more expensive than a transaction paying only 1 sat/vByte. On Electrum's desktop version, I could pay 1.1 sat/vByte and have priority over anyone paying only 1 sat, but still save money compared to what I would have spent if I paid 2 sat/vByte.

Quote from: joniboini on May 27, 2023, 09:00:44 PM

Consolidating inputs can also help to lower the fees. It is always a good idea to regularly consolidate our inputs unless it is a cold wallet. CMIIW.

Consolidating is OK when the network conditions allow it. It gets quite expensive in situations like what we have witnessed with the Ordinals.

Oshosondy

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Quote from: joniboini on May 27, 2023, 09:00:44 PM

Basically, it is a good idea to always include a change transaction to an address that you control. What Sarah describes can be avoided easily as long as the user uses a good wallet.

A transaction does not necessarily need to have a change on your balance. A good wallet should have RBF so that you will be able to increase the fee instead of depending on CPFP which will require higher transaction fee. A good wallet should not only support RBF but should also enable it by default.

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Quote from: Oshosondy on May 26, 2023, 03:26:43 AM

Quote from: khaled0111 on May 25, 2023, 06:10:40 PM

Not necessarily, you can send some of your coins to an exchange and you are still able to perform CPFP.

But if the transaction is sent to an exchange or to a custodial wallet in a way that it has no change address, there would be no way to create a CPFP transaction.

Basically, it is a good idea to always include a change transaction to an address that you control. What Sarah describes can be avoided easily as long as the user uses a good wallet. Consolidating inputs can also help to lower the fees. It is always a good idea to regularly consolidate our inputs unless it is a cold wallet. CMIIW.

Oshosondy

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Quote from: khaled0111 on May 25, 2023, 06:10:40 PM

Not necessarily, you can send some of your coins to an exchange and you are still able to perform CPFP.
Let's assume you have 1 brc, you send 0.5 to an exchange and the remaining 0.5 will be sent to lne of your change addresses.
You as sender, can perform cpfp because some of the outputs are sent to you. All you need to do is to spend the received change with enough high fee to cover both the current and the previous transactions.

But if the transaction is sent to an exchange or to a custodial wallet in a way that it has no change address, there would be no way to create a CPFP transaction.

If the parent transaction virtual size is very high with many inputs and outputs, the fee that would be needed for the new transaction would be very high too.

If you are able to spend the unconfirmed transaction or its change address, you will be able to do CPFP.

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Quote from: Sarah Azhari on May 24, 2023, 09:00:21 PM

CPFP is helpful if we do self-transactions or if we send it to an address where the owner has his own private key. If we send it to the exchange, CPFP doesn't work properly, because we have to contact the exchange to help increase the fee

Not necessarily, you can send some of your coins to an exchange and you are still able to perform CPFP.
Let's assume you have 1 brc, you send 0.5 to an exchange and the remaining 0.5 will be sent to lne of your change addresses.
You as sender, can perform cpfp because some of the outputs are sent to you. All you need to do is to spend the received change with enough high fee to cover both the current and the previous transactions.

Smartvirus

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Quote from: Charles-Tim on May 24, 2023, 06:22:57 PM

Quote from: Smartvirus on May 24, 2023, 06:11:35 PM

Fee customization we do refer to is to be able to edit the fee like in this order: 1, 2, 3, 4, 5 sat/vbyte and so on. Or to be able to use your keyboard to customize the fee.

Assuming the fee rate is not going below 60 sat/vbyte for a long time, you will have no option than to set the fee to 70 sat/vbyte. And as I meant before, the higher it is, the less accurately you will be able to customize the fee.

Quote from: Smartvirus on May 24, 2023, 06:11:35 PM

Your as well opportuned to bump transactions and use the services of bitcoin ~~accelerometer~~ to speed your transactions. These are option out there for users.

Bitcoin transaction accelerator.

Yeah, accelerator. My bad. Thanks though.

And still, of what significant difference will it make, with the mempool accepting a fee rate of 60sat/byte as its lowest rate and then your having to pick th next sequence within your given fee range to be 70sat/byte. A difference of 10sats don't mean that much. That's just a few cents still and won't have much effect on your transfered funds but would certainly have an effect on the placing of the initiated transaction. Am aware your speculation as used here is an assumption for a practical scenario and better understanding (@ 60sat/byte and 70 sat/byte).

In the end, it recalling makes less difference having to to edit and type from your keyboard or keypad and just adjust within a ranging system.

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Quote from: BitMaxz on May 24, 2023, 06:55:13 PM

Sometimes the recommended fee from mempool is not accurate if ever your transaction is stuck and you follow the suggested fee from mempool I suggest use Viabtc accelerator to speed up the transaction they do support 0.0001 BTC/KB fee rate above.

Here the link https://www.viabtc.com/tools/txaccelerator

The mempool recommended fee is accurate, but just that the mempool is not static, it can be congested at anytime.

About ViaBTC, the transaction should not exceed 500 bytes too.

Quote from: Sarah Azhari on May 24, 2023, 09:00:21 PM

And if someone sends you btc and he forgets to enable RBF (to increase the fee), because you own the key in Electrum, you just open your Electrum wallet, and you can see history unconfirmed transaction, just right click it to increase the the fee (CPFP)

RBF is enabled by default on good wallets that support it. Only what that can happen is for you to disable it. With CPFP, higher fee may be required, especially if the parent transaction is having high weight.

ImThour

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As everyone has suggested, use the RBF option as it increases the transaction fee which fastens the speed of the transaction if it's stuck. Also, you can use Bitcoin transaction accelerator services.
Do a google search and you will be able to find many free of them, I am sure at least one of them will work for you.

If it's an exchange transaction, you can't do anything. Just wait for it to be confirmed. Next time use something like MATIC or shit to transfer a lot faster and at low tx fee.

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Quote from: Sarah Azhari on May 24, 2023, 09:00:21 PM

because we have to contact the exchange to help increase the fee, which I think is hard (and seem impossible), because I tried it some time ago after my Bitcoin stuck (I forget to enable RBF), but they ignored me to CPFP.

Exchanges usually don't use RBF option for their transactions and I don't think it is a good practice but maybe they don't use RBF because they believe they already use high fee rate enough. Transactions with high fee rate proceeded by exchanges won't be easily dropped off mempool. Exchanges can re-broadcast those transactions for their users and users will receive their coins after waiting a while.

I really don't think if you open a support ticket to complain about your stuck transaction, an exchange will support you immediately by using CPFP option or even with RBF. If they support you, they will have to support others and it will cause overload on their Support team.

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Quote from: nakamura12 on May 24, 2023, 07:19:32 PM

There are other ways like CPFP or Child-Pays-For-Parent if your transaction is not RBF enabled

CPFP is helpful if we do self-transactions or if we send it to an address where the owner has his own private key. If we send it to the exchange, CPFP doesn't work properly, because we have to contact the exchange to help increase the fee, which I think is hard (and seem impossible), because I tried it some time ago after my Bitcoin stuck (I forget to enable RBF), but they ignored me to CPFP.

And if someone sends you btc and he forgets to enable RBF (to increase the fee), because you own the key in Electrum, you just open your Electrum wallet, and you can see history unconfirmed transaction, just right click it to increase the the fee (CPFP)

https://blog.bitmain.com/en/stuck-unconfirmed-bitcoin-transaction-may-help-next-time/

nakamura12

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You can bump the transaction with higher fee if RBF is enabled and since electrum wallet supported RBF then you can do that if your transaction is still unconfirmed. There are other ways like CPFP or Child-Pays-For-Parent if your transaction is not RBF enabled and also using Bitcoin Transaction accelerator like ViaBTC either for free submission or paid service. There's no point for me to provide the link since you can check the btc tx accelerator through the link provided by Bitmaxz.

BitMaxz

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Sometimes the recommended fee from mempool is not accurate if ever your transaction is stuck and you follow the suggested fee from mempool I suggest use Viabtc accelerator to speed up the transaction they do support 0.0001 BTC/KB fee rate above.

Here the link https://www.viabtc.com/tools/txaccelerator

Charles-Tim

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Quote from: Smartvirus on May 24, 2023, 06:11:35 PM

Isn't that the same thing? Having an adjustable fee even within a ranging system of 1,2,5,10...300 sat/vbyte. What other customisation can one need than that. Having to write a definite number number sat and not pick within a ranged system? I asked that to be the same thing.

Fee customization we do refer to is to be able to edit the fee like in this order: 1, 2, 3, 4, 5 sat/vbyte and so on. Or to be able to use your keyboard to customize the fee.

Assuming the fee rate is not going below 60 sat/vbyte for a long time, you will have no option than to set the fee to 70 sat/vbyte. And as I meant before, the higher it is, the less accurately you will be able to customize the fee.

Quote from: Smartvirus on May 24, 2023, 06:11:35 PM

Your as well opportuned to bump transactions and use the services of bitcoin ~~accelerometer~~ to speed your transactions. These are option out there for users.

Bitcoin transaction accelerator.

Smartvirus

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Quote from: Charles-Tim on May 24, 2023, 05:47:14 PM

Quote from: FatFork on May 24, 2023, 05:35:13 PM

Quote from: Upgrade00 on May 24, 2023, 04:17:40 PM

On the mobile app, you cannot set the fees specifically, you can only choose from a range of low priority, medium or high, while on the desktop version you can choose the exact fee you wish to pay on the transactions.

Even on the mobile version of the Electrum wallet there are three options for fee estimation algorithms that you can choose: Static, Mempool and ETA (same as on the desktop version). If you choose a STATIC fee option, you can choose a fee within the range of 1 to 300 sat/vByte using the slider on the left. This gives you good control over the fee you wish to allocate for your transactions.

This is how it looks like with static: 1, 2, 5, 10, 20, 30, 50, 70, 100, 150 and 300 sat/vbyte. The higher it is, the lower the accuracy can be. Fee customization is better.

Isn't that the same thing? Having an adjustable fee even within a ranging system of 1,2,5,10...300 sat/vbyte. What other customisation can one need than that. Having to write a definite number number sat and not pick within a ranged system? I asked that to be the same thing.

It becomes a matter of choice on referring to other options to determine what better fee rate is good enough to apply during clogged and congested network situations.
Your as well opportuned to bump transactions and use the services of bitcoin accelerator to speed your transactions. These are option out there for users.

hosseinimr93

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Quote from: Jating on May 24, 2023, 05:36:08 PM

Yes, the default on Electrum for RBF is not enabled if I'm not mistaken, you just have to enabled it though.

No. By default, RBF is enabled and in the current version, it's not possible to disable it.
Note that the option to disable RBF was removed in the version 4.4.0. In the versions before that, you had the option to choose whether or not you want your transaction to be flagged as RBF.

Charles-Tim

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Quote from: FatFork on May 24, 2023, 05:35:13 PM

Quote from: Upgrade00 on May 24, 2023, 04:17:40 PM

On the mobile app, you cannot set the fees specifically, you can only choose from a range of low priority, medium or high, while on the desktop version you can choose the exact fee you wish to pay on the transactions.

Even on the mobile version of the Electrum wallet there are three options for fee estimation algorithms that you can choose: Static, Mempool and ETA (same as on the desktop version). If you choose a STATIC fee option, you can choose a fee within the range of 1 to 300 sat/vByte using the slider on the left. This gives you good control over the fee you wish to allocate for your transactions.

This is how it looks like with static: 1, 2, 5, 10, 20, 30, 50, 70, 100, 150 and 300 sat/vbyte. The higher it is, the lower the accuracy can be. Fee customization is better.

Quote from: Jating on May 24, 2023, 05:36:08 PM

Yes, the default on Electrum for RBF is not enabled if I'm not mistaken, you just have to enabled it though.

RBF is enabled by default on Electrum.

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Quote from: Zaguru12 on May 24, 2023, 04:55:30 PM

Quote from: Upgrade00 on May 24, 2023, 04:17:40 PM

You choose the feerate of your choice when creating the transaction. On the mobile app, you cannot set the fees specifically, you can only choose from a range of low priority, medium or high, while on the desktop version you can choose the exact fee you wish to pay on the transactions.

If your enaked RBF - Replaced By Fee, you can bump the fee after you have sent the transaction, if it is delaying to be confirmed.

Part of the reason why I prefer the blue wallet than mobile electrum wallet. With the blue wallet having fee ranges calculated from mempool for confirmation in either 10min, 3hours or 1day, you can customize your own fee to a preferred one. The RBF seems on default doesn’t enabling except it was disabled before.

Yes, the default on Electrum for RBF is not enabled if I'm not mistaken, you just have to enabled it though.

You can also edit the fees manually. After you click "Pay"->click on the "Screwdriver icon". Then you can type the fees you want, based on what you see in

https://mempool.space/

So obviously, if you are not in a hurry and doesn't want to pay high fee then that is your choice.

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Quote from: Upgrade00 on May 24, 2023, 04:17:40 PM

On the mobile app, you cannot set the fees specifically, you can only choose from a range of low priority, medium or high, while on the desktop version you can choose the exact fee you wish to pay on the transactions.

Even on the mobile version of the Electrum wallet there are three options for fee estimation algorithms that you can choose: Static, Mempool and ETA (same as on the desktop version). If you choose a STATIC fee option, you can choose a fee within the range of 1 to 300 sat/vByte using the slider on the left. This gives you good control over the fee you wish to allocate for your transactions.

Zaguru12

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Quote from: Upgrade00 on May 24, 2023, 04:17:40 PM

You choose the feerate of your choice when creating the transaction. On the mobile app, you cannot set the fees specifically, you can only choose from a range of low priority, medium or high, while on the desktop version you can choose the exact fee you wish to pay on the transactions.

If your enaked RBF - Replaced By Fee, you can bump the fee after you have sent the transaction, if it is delaying to be confirmed.

Part of the reason why I prefer the blue wallet than mobile electrum wallet. With the blue wallet having fee ranges calculated from mempool for confirmation in either 10min, 3hours or 1day, you can customize your own fee to a preferred one. The RBF seems on default doesn’t enabling except it was disabled before.

Charles-Tim

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Quote from: Upgrade00 on May 24, 2023, 04:17:40 PM

On the mobile app, you cannot set the fees specifically, you can only choose from a range of low priority, medium or high, while on the desktop version you can choose the exact fee you wish to pay on the transactions.

On mobile Electrum, you have the option to go for ETA, mempool or static to set the fee.

ETA option from the lowest of 25 blocks, adjustable to 10, 5, 2 and 1 block.
Mempool option from 10 MB from the top, adjustable to 5, 2, 1, 0.8, 0.6, 0.4, 0.25 and 0.1 MB from the tip.
Static option from 1 sat/vbyte to 2, 5, 10, 20, 30, 50, 70, 100, 150 and 300 sat/vbyte.

Although, there is nothing better than a wallet to be able to customize the fee.

Dr.Bitcoin_Strange

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You can see the guid on the link provided Below, on how to speed up transaction fee through RBF support on the electrum wallet.
https://support.ledger.com/hc/en-us/articles/6183300395037-Speeding-up-slow-Bitcoin-BTC-transactions-using-Electrum?docs=true

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You choose the feerate of your choice when creating the transaction. On the mobile app, you cannot set the fees specifically, you can only choose from a range of low priority, medium or high, while on the desktop version you can choose the exact fee you wish to pay on the transactions.

If your enaked RBF - Replaced By Fee, you can bump the fee after you have sent the transaction, if it is delaying to be confirmed.

Charles-Tim

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On the history tab, click on the unconfirmed transaction and you will see 'pump fee'.

For the fee priority, use: https://mempool.space/
Fee priority for advanced users: https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,weight

jrrsparkles

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In Electrum wallet just follow this for your transaction to get included into the next block.

Enter the address - Enter the amount you want to send - choose mempool in the target and set it to 0.6 to 0.8MB from the tip - Send

And here it is you just set whatever fee required for the transaction to proceed in the upcoming block.

platinumsteel2016

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I have heard that the cause of slow btc transfer(s), is because of increase of fees. I have an
electrum wallet...My question is, how and where within the electrum wallet do I adjust the transfer?!?
Maybe somewhere in Tools>"Preferences" , for example??? Layman Terms please.

Topic: How to speed up btc transfers (Read 208 times)