NEWBI HERE. help please | Bitcointalksearch.org

HCP

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Quote from: willondon79 on April 18, 2021, 09:28:39 AM

how many BTC is 290EURO?

Bitcoin dropped almost 10% the other day... in less than 30 minutes!!?! Shocked

So, trying to send an "exact" amount of fiat using BTC is a fool's errand... you might get close, but the value when you send will likely not be the value when it is received/confirmed.

If you need to send an exact "fiat" amount... then you should use "fiat" transfer services Tongue

Otherwise, you will need to agree to an exact amount of BTC with whomever you are sending to or receiving from. Once both parties have agreed on a set amount of BTC, then that amount should be sent... any variance in the fiat value of BTC is then irrelevant.

o_e_l_e_o

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Quote from: willondon79 on April 18, 2021, 09:28:39 AM

how many BTC is 290EURO?

https://coinmarketcap.com/converter/eur/btc/?amt=290

No exchange will be exactly the same as any other.

willondon79

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Thanks guys, I have managed.
One last question, in terms of conversion,
how many BTC is 290EURO?
I find conflicting exchanges.

Quote from: o_e_l_e_o on April 18, 2021, 07:29:46 AM

Quote from: willondon79 on April 18, 2021, 07:12:23 AM

So how can I send BTC when the only option I have is to send mBTC?

Either multiply everything by 1000 (so 1 BTC would be 1000 mBTC, or your intended 0.0055 BTC would be 5.5 mBTC), or change the units your wallet displays from mBTC to BTC by following the instructions given above:

Quote from: nc50lc on April 17, 2021, 10:16:34 PM

You can change the base unit into 'BTC' in the settings if you want: "Tools->Preference->'General' tab->Base Unit".

o_e_l_e_o

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Quote from: willondon79 on April 18, 2021, 07:12:23 AM

So how can I send BTC when the only option I have is to send mBTC?

Either multiply everything by 1000 (so 1 BTC would be 1000 mBTC, or your intended 0.0055 BTC would be 5.5 mBTC), or change the units your wallet displays from mBTC to BTC by following the instructions given above:

Quote from: nc50lc on April 17, 2021, 10:16:34 PM

You can change the base unit into 'BTC' in the settings if you want: "Tools->Preference->'General' tab->Base Unit".

willondon79

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I think HCP was right.

Now the transaction appears to have gone through, because it has a green Icon next to it in the History folder.
Is reads
Amount sent: 0.0055 mBTC

So how can I send BTC when the only option I have is to send mBTC?

Thanks

Quote from: HCP on April 17, 2021, 04:35:22 PM

Quote from: willondon79 on April 17, 2021, 04:05:34 PM

I added 300EUR to my Electrum Wallet.
I sent 0.0055 to 3NftSxXA3GDu2aWmercEdWsMuRkG62dD5T but it now says UNCONFIRMED and the bitcoins have not been received.

If you were indeed sending to the "3NftS...x" address... then I have some bad news for you. Because you didn't send 0.0055 BTC... you've sent 0.0055 mBTC!!?! Shocked

which is only 550 sats!
https://www.blockchain.com/btc/tx/dca6be0411b6c796a95ec5ec574aa312cc4b3f97638aa821d47e5b209c1a19ba
https://i.imgur.com/bb5oUJZ.png

What wallet were you sending the coins from? Huh

Quote from: willondon79 on April 17, 2021, 04:05:34 PM

A strange alert popped up regarding fees when I was doing the transaction.
I do not understand what went wrong.

I suspect the alert was trying to warn you that you were about to spend 0.00018150 BTC to send only 0.00000550 BTC!!?! Shocked

o_e_l_e_o

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The full set of rules for an RBF transaction can be viewed here: https://github.com/bitcoin/bips/blob/master/bip-0125.mediawiki#implementation-details. Bold mine.

Quote

One or more transactions currently in the mempool (original transactions) will be replaced by a new transaction (replacement transaction) that spends one or more of the same inputs if,

The original transactions signal replaceability explicitly or through inheritance as described in the above Summary section.
The replacement transaction may only include an unconfirmed input if that input was included in one of the original transactions. (An unconfirmed input spends an output from a currently-unconfirmed transaction.)
The replacement transaction pays an absolute fee of at least the sum paid by the original transactions.
The replacement transaction must also pay for its own bandwidth at or above the rate set by the node's minimum relay fee setting. For example, if the minimum relay fee is 1 satoshi/byte and the replacement transaction is 500 bytes total, then the replacement must pay a fee at least 500 satoshis higher than the sum of the originals.
The number of original transactions to be replaced and their descendant transactions which will be evicted from the mempool must not exceed a total of 100 transactions.

In terms of the inputs, the only requirement is that at least one of the inputs is the same and you can only included an unconfirmed input in the replacement transaction if it was also included in the original transaction. You can add or remove as many inputs as you like - as long as one of the inputs is the same, the original transaction will be replaced. Even if the original transaction has hundreds of inputs sending thousands of BTC to hundreds of different outputs, you could replace the entire thing with a transaction which sends a few thousands sats from one address to another, provided you meet the fee requirements.

hosseinimr93

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Quote from: Pmalek on April 18, 2021, 03:12:30 AM

I am quite sure that replace-by-fee doesn't allow the sender to change the amounts being broadcasted. You can change the miner fees and the receiving address, but you are still spending the same UTXO. Therefore, if the original sum was 0.0055 mBTC, it has to stay 0.0055 mBTC. D

You can change the amount by adding more UTXO(s) or removing UTXO(s).

Let's say the original transaction is as follows.

Input A -------> Output A
Input B

This transaction can be replaced by following transactions.

Input A -------> Output B (higher fee)

Input A
Input B -------> Output B (higher fee)
Input C

Input A -------> Output B (higher fee)
Input C

HCP

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Pretty sure one of the RBF rules is that the fee has to be higher... and has to be higher by at least the minimum relay fee for another transaction. The idea being to prevent "DoS" attacks by spamming new replacement transactions etc... and also to encourage miners to not violate the system by taking an "earlier" transaction that paid a higher fee etc.

Refer: https://bitcoincore.org/en/faq/optin_rbf/#who-invented-unconfirmed-transaction-replacement-does-it-go-against-the-vision-of-bitcoin

Pmalek

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Quote from: khaled0111 on April 17, 2021, 06:50:05 PM

Not sure if the "bumping fee" in Electrum allows you to change the destination address and the amount, but if it doesn't he still can use any online tool such as coinb.in to create the raw transaction, sign it with Electrum then broadcast it.

I am quite sure that replace-by-fee doesn't allow the sender to change the amounts being broadcasted. You can change the miner fees and the receiving address, but you are still spending the same UTXO. Therefore, if the original sum was 0.0055 mBTC, it has to stay 0.0055 mBTC. Doing an RBF on this transaction by decreasing the fees would also not make sense because miners are incentivized to include transactions with higher fees. If given a choice, they will never go for the one awarding them less bitcoins.

That leads me to another question. Even though it doesn't make sense to do, is it possible to bump the fees with RBF and actually broadcast a 2nd transaction with less fees than the original one?

BTW, the transaction in question has already been confirmed.

nc50lc

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Quote from: willondon79 on April 17, 2021, 04:05:34 PM

I added 300EUR to my Electrum Wallet.
I sent 0.0055 to 3NftSxXA3GDu2aWmercEdWsMuRkG62dD5T but it now says UNCONFIRMED and the bitcoins have not been received.

Electrum will default with mBTC unit which is equivalent to 0.001 BTC, in your case, you've actually sent 550 satoshi (0.00000550 BTC) as the previous posts mentioned.
You can change the base unit into 'BTC' in the settings if you want: "Tools->Preference->'General' tab->Base Unit".

The error you've received is because the total fee is much higher than the amount to be sent:

Code:

Warning: the fee for this transaction is unusually high. (xx% of amount)

khaled0111

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Quote from: HCP on April 17, 2021, 04:35:22 PM

What wallet were you sending the coins from? Huh

I believe he is using Electrum since, AFAIK, it's the only wallet that shows mBTC by default.

If sending 0.0055 mBTC to "3NftS...x" was a mistake and he was intending to send 0.0055 BTC then he should double spend that transaction asap before it gets confirmed.
Not sure if the "bumping fee" in Electrum allows you to change the destination address and the amount, but if it doesn't he still can use any online tool such as coinb.in to create the raw transaction, sign it with Electrum then broadcast it.

HCP

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Quote from: willondon79 on April 17, 2021, 04:05:34 PM

I added 300EUR to my Electrum Wallet.
I sent 0.0055 to 3NftSxXA3GDu2aWmercEdWsMuRkG62dD5T but it now says UNCONFIRMED and the bitcoins have not been received.

If you were indeed sending to the "3NftS...x" address... then I have some bad news for you. Because you didn't send 0.0055 BTC... you've sent 0.0055 mBTC!!?! Shocked

which is only 550 sats!
https://www.blockchain.com/btc/tx/dca6be0411b6c796a95ec5ec574aa312cc4b3f97638aa821d47e5b209c1a19ba

What wallet were you sending the coins from? Huh

Quote from: willondon79 on April 17, 2021, 04:05:34 PM

A strange alert popped up regarding fees when I was doing the transaction.
I do not understand what went wrong.

I suspect the alert was trying to warn you that you were about to spend 0.00018150 BTC to send only 0.00000550 BTC!!?! Shocked

khaled0111

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Is this the transaction you are asking about?
https://mempool.space/tx/dca6be0411b6c796a95ec5ec574aa312cc4b3f97638aa821d47e5b209c1a19ba

It's paying 128.5 sat/vbyte and it's currently positioned ~11vMB from tip.
If you are lucky enough, it will confirm within a day or less.

Luckily, It's flagged as rbf so you can bump the fees if needed.

willondon79

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I added 300EUR to my Electrum Wallet.
I sent 0.0055 to 3NftSxXA3GDu2aWmercEdWsMuRkG62dD5T but it now says UNCONFIRMED and the bitcoins have not been received.

A strange alert popped up regarding fees when I was doing the transaction.
I do not understand what went wrong.

Anybody kind enough to help?

Thanks

Topic: NEWBI HERE. help please (Read 202 times)