Is it possible to increase fees of an already sent transaction?

HCP

legendary

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Quote from: bob123 on October 16, 2017, 02:31:42 PM

But you also could to try child pays for parent (cpfp), where you "double spend" a transaction with higher fee, which will replace your old transaction.
If you want a guide on how to achieve that, you can go here: https://bitcointalksearch.org/topic/a-complete-idiots-guide-to-child-pays-for-parent-1118563

"Child Pays For Parent" is NOT a "double spend" and it doesn't replace the old transaction... With CPFP, you are creating a completely new transaction using at least one output from the previous transaction and using a significantly higher transaction such that "total fees paid child+parent" / "transaction size child+parent" = Good Fee Rate in sats/byte.

The idea being that miners want to claim the good fee from the child transaction, so they will mine the parent in the same block.

bob123

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There are several options you can get that transaction through afterwards.
You could either use a free TX accelaration service (you can find a few in the service section here; i think one is https://confirmtx.com).
But i think those are only free for transactoin up to ~500 byte (not sure about exact amount).
But you also could to try child pays for parent (cpfp), where you "double spend" a transaction with higher fee, which will replace your old transaction.
If you want a guide on how to achieve that, you can go here: https://bitcointalksearch.org/topic/a-complete-idiots-guide-to-child-pays-for-parent-1118563
But next time better include a proper fee for your tx to get accepted. You can use https://bitcoinfees.21.co/ to see how big the fee has to be.

poordeveloper

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Quote from: DarkStar_ on October 14, 2017, 02:40:30 PM

Quote from: poordeveloper on October 14, 2017, 01:31:52 PM

A few months ago I read about a way to send fees for an existing transaction in a different one. I don't remember where I read that though. Is that already possible?

I'm not entirely sure on what you are asking, but based on the title, yes, it is possible. When you make a transaction, you can set it as an RBF (replace by fee) transaction which will allow you to increase the fee after the transaction is broadcast. However, this must be enabled first and can't be done to transactions that are not Opt In RBF.

It's also possible to indirectly increase the fees using CPFP (child pays for parent) where you spend the change of the first transaction with a fee to cover both transactions.

This is what I was talking about. Thanks a lot.

I am looking for a service where I can use those to raise fees of an existing transaction which may have not been sent by me. So the first option looks inviable: the sender needs to set it as a RBF transaction first.

I will look for information on the second option.

DarkStar_

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Quote from: poordeveloper on October 14, 2017, 01:31:52 PM

A few months ago I read about a way to send fees for an existing transaction in a different one. I don't remember where I read that though. Is that already possible?

I'm not entirely sure on what you are asking, but based on the title, yes, it is possible. When you make a transaction, you can set it as an RBF (replace by fee) transaction which will allow you to increase the fee after the transaction is broadcast. However, this must be enabled first and can't be done to transactions that are not Opt In RBF.

It's also possible to indirectly increase the fees using CPFP (child pays for parent) where you spend the change of the first transaction with a fee to cover both transactions.

jshark

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Maybe this is what you're looking for? https://pool.viabtc.com/tools/txaccelerator/

They'll confirm the transaction if they find a block.

poordeveloper

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A few months ago I read about a way to send fees for an existing transaction in a different one. I don't remember where I read that though. Is that already possible?

Topic: Is it possible to increase fees of an already sent transaction? (Read 423 times)