RBF feature on 4.0.2? | Bitcointalksearch.org

Charles-Tim

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Quote from: simpic on February 12, 2021, 05:12:19 AM

Okay, got it!
Thank you for your replies.

PS: On your experience, how long does it take to get confirmed my tx as it is now? I can wait, but if it needs weeks I'm going to set an higher fee.

It depends, if you did not use RBF or if you use RBF, what matters is the fee you are paying and the fee require for your transaction to get confirmed earlier. You can decide to increase the fee is not confirmed, and if not confirmed, you can still slightly increase the fee. You can make use of fee estimator to determine when your transaction will be confirmed. But, it will be better to wait first until weekend is over, mempool are most likely less congested during weekends which can make your transaction confirmed possibly.

dkbit98

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Quote from: simpic on February 12, 2021, 05:12:19 AM

On your experience, how long does it take to get confirmed my tx as it is now? I can wait, but if it needs weeks I'm going to set an higher fee.

Wait for Saturday and Sunday as weekend is usually the time when fees are lowest and after checking mempool I expect it could be confirmed then.
If you are not in a hurry like you say than there is no need to change anything and just wait for things to cool down.

For monitoring mempool all the time in your browser you can check out our opensource BTC Mempool Fees Extension/add-on for Firefox/Chrome browser

mocacinno

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Quote from: simpic on February 12, 2021, 05:12:19 AM

Okay, got it!
Thank you for your replies.

PS: On your experience, how long does it take to get confirmed my tx as it is now? I can wait, but if it needs weeks I'm going to set an higher fee.

No way of telling you how long a 5 sat/byte tx will need i'm afraid...
I can only tell you that accoring to https://jochen-hoenicke.de/queue/#0,24h there currently are 60 Mb of unconfirmed transactions that payed a higher fee than you did.

If everybody would stop broadcasting new transactions, it would take another ~60 blocks before your transaction had a decent chance...
~60 blocks x ~10 minutes/block (on average) = 600 minutes... But that's ONLY if EVERYBODY ELSE stopped broadcasting transaction (which isn't going to happed so it seems).

It's pretty simple basically: the miners pick the transactions with the highest fee/vbyte. They can only put 1 Mb of transaction data in a block (disregarding the witness data), the difficulty is adjusted so the average time between two blocks is 10 minutes. You'll have to wait until the ones paying more than you did ended up in a block. Sure, from time to time somebody gets lucky, and a low fee tx ends up in a block by sheer luck, but on average this doesn't happen i'm afraid.

simpic

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Okay, got it!
Thank you for your replies.

PS: On your experience, how long does it take to get confirmed my tx as it is now? I can wait, but if it needs weeks I'm going to set an higher fee.

Rath_

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Quote from: simpic on February 12, 2021, 05:04:40 AM

I see that since Electrum 4.0.4 there is the RBF feature. I have Electrum 4.0.2 and I see an option in the contextual menu related to transaction to set an high fee.
Is it the RBF feature?

Yes. RBF was added a few years ago and it has been turned on by default for the last 3 years. In the 4.0.4 update, a "Cancel (double-spend)" option was added which uses RBF to double-spend the transaction with a higher fee back to the sender. You should be able to bump the fee of your transaction by selecting "Increase fee" under the context menu.

ranochigo

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It was enabled since v3.X. If you right click your transaction, you should see an option to Increase Fee.

mocacinno

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This is the option in the preferences menu to create opt-in rbf tx's by default.

IIRC, it should have been in earlyer versions aswell, but in 4.0.9 it looks like this:

However, if you did not enable opt-in RBF and your transaction got stuck, it's basically to late... Either your broadcasted tx has the flag set, and you'll have a menu to bump the fee straight from electrum's gui... Or the stuck transaction won't have the flag set, and at that point it's to late since the tx was already broadcasted.

simpic

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Hello, I have sent a transaction with low fee (5 sat/byte) and it is a couple of hours that is unconfirmed.
I see that since Electrum 4.0.4 there is the RBF feature. I have Electrum 4.0.2 and I see an option in the contextual menu related to transaction to set an high fee.
Is it the RBF feature?

Topic: RBF feature on 4.0.2? (Read 104 times)