Received a payment with low fees, stuck already for 3,5 days now

LoyceV

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Quote from: Smartprofit on April 14, 2024, 07:04:35 AM

You write about one confirmation...
I have always believed that it is necessary to wait for two confirmations of a Bitcoin transaction in order to have an absolute guarantee that the transaction will not subsequently be reversed.
However, I recently received information from the exchanger I work with that they now determine the receipt of bitcoins based on the presence of three confirmations. The address I am performing the transaction from is not a segwit bitcoin - address.
I wonder what this is connected with?

It's based on the risk. If you receive one small transaction once, you're probably good. But if you receive many high transactions in each block, something may go wrong someday if a block gets replaced. By waiting for more confirmations, you largely reduce that risk. Bitcoin Core still recommends 6 confirmations by default.

Smartprofit

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Quote from: Charles-Tim on April 11, 2024, 12:09:20 PM

Quote from: GekkeBelg on April 11, 2024, 11:45:21 AM

Any experts here who can shed their light on this case? I received this payment about 3,5 days ago and it's still unconfirmed.
Should I be worried that it might stay unconfirmed forever or will it for sure be confirmed sooner or later? But realistically, how long can it take?

The mempool is so congested right now and it might take weeks or more that transaction can get confirmed. It might be dropped from mempool later. Why not tell the sender to increase the fee using RBF because the transaction supports RBF.

Do not accept an unconfirmed transaction until it has one confirmation.

You write about one confirmation...
I have always believed that it is necessary to wait for two confirmations of a Bitcoin transaction in order to have an absolute guarantee that the transaction will not subsequently be reversed.
However, I recently received information from the exchanger I work with that they now determine the receipt of bitcoins based on the presence of three confirmations. The address I am performing the transaction from is not a segwit bitcoin - address.
I wonder what this is connected with?

PX-Z

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Quote from: GekkeBelg on April 12, 2024, 07:46:53 PM

Quote from: hosseinimr93 on April 12, 2024, 02:09:06 PM

Quote from: LoyceV on April 11, 2024, 01:44:40 PM

Just enable coin control, select the unconfirmed input, spend it by sending to yourself, and add a significant fee.

You can do the same thing by right-clicking on the unconfirmed transaction and selecting "Child pays for parent". There is no need to use coin control.

Doing CPFP in this way is easier for someone without technical knowledge and the other advantage is that the user would see the effective fee rate before broadcasting the child transaction and wouldn't have to calculate that manually.

Thanks, I did it like this and it was indeed very easy, and it succeeded. The transaction is now confirmed.

That's good to hear, i just checked the transaction on mempool.space it was indeed confirmed just 1 hour ago as of writing.

GekkeBelg

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Quote from: hosseinimr93 on April 12, 2024, 02:09:06 PM

Quote from: LoyceV on April 11, 2024, 01:44:40 PM

Just enable coin control, select the unconfirmed input, spend it by sending to yourself, and add a significant fee.

You can do the same thing by right-clicking on the unconfirmed transaction and selecting "Child pays for parent". There is no need to use coin control.

Doing CPFP in this way is easier for someone without technical knowledge and the other advantage is that the user would see the effective fee rate before broadcasting the child transaction and wouldn't have to calculate that manually.

Thanks, I did it like this and it was indeed very easy, and it succeeded. The transaction is now confirmed.

hosseinimr93

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Quote from: LoyceV on April 11, 2024, 01:44:40 PM

Just enable coin control, select the unconfirmed input, spend it by sending to yourself, and add a significant fee.

You can do the same thing by right-clicking on the unconfirmed transaction and selecting "Child pays for parent". There is no need to use coin control.

Doing CPFP in this way is easier for someone without technical knowledge and the other advantage is that the user would see the effective fee rate before broadcasting the child transaction and wouldn't have to calculate that manually.

dkbit98

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Quote from: GekkeBelg on April 11, 2024, 11:57:23 AM

Well yes but I did not send this payment to myself. It came from an external party and I have no control over their actions.
Can I still do something then to speed it up?

You can tell them to increase the fees if they used RBF or to send new transaction.
I checked transaction you posted, and they did use RBF, but it may need more time for transaction to be confirmed with 7 sat/vB fees they used.
Right now fees are going crazy but I would wait for weekend to see if mempool cools down a bit.

Charles-Tim

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Quote from: BitMaxz on April 11, 2024, 12:50:06 PM

I don't know the exact time but usually a week nodes should reject it but better to ask the sender what wallet he used to send the BTC
Because some wallets like Blockchain wallet it always rebroadcast unconfirmed transactions same goes for exchanges.

On Bitcoin Core, it is 14 days by default. But node runners can set it to what they want.

Quote from: LoyceV on April 11, 2024, 01:44:40 PM

That only works if you fully trust the sender to do so.

If it is me and I do not trust the sender, that means I will not give the sender what he wants in exchange for the money. It is cash and carry or we should use escrow. I will tell the sender to pump the fee.

Quote from: BlackHatCoiner on April 11, 2024, 02:07:44 PM

Also, why telling the sender to make another transaction and not just rebroadcast the same?

I think that is what he meant. To resend the coin again in a new transaction. But nice making it clear because a coin that is thought to have been dropped has not been dropped from some other nodes and if the fee rate becomes lower, the transaction that has been thought to have been dropped can later be confirmed.

Synchronice

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Quote from: GekkeBelg on April 11, 2024, 12:35:18 PM

I do not need the funds right now.
So the plan is wait until it gets rejected and then tell the sender to send it again (which he will do, I have no doubt about that)?

When (approximately) will the transaction be rejected by the nodes?

I think that RBF is a good option for you, especially since the transaction already supports it. There is no need to wait for nodes to forget your transaction, you can regularly check mempool.space for recommended transaction fees (they are very accurate) and when you see that fees are going low, don't risk and ask your friend to increase transaction fee via RBF. I wouldn't suggest to wait till nodes forget your transaction because you never know what's going to happen in terms of fees, you might not see anything below 100 sat/vByte for a month or two. If it worth for you to wait that much, then never mind what I suggested.

khaled0111

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Nodes usually drop a transaction from their mempools if it doesn't get confirmed within 14 days. However, for different reasons, a transaction may remain stuck for way longer than that.
If I were you, I would accelerate the confirmation of the transaction by performing CPFP as other members have suggested or ask the sender to bump the fees. The latter option is cheaper.

BlackHatCoiner

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You pay the price, buddy. Spend the output that is yours and put a high fee, which as said above, is called CPFP (Child Pays For Parent). There is no other way if you're in hurry. We all want our transactions confirmed the soonest possible, but some of us want it more than others. Wink

Quote from: LoyceV on April 11, 2024, 01:44:40 PM

Quote from: BitMaxz on April 11, 2024, 12:30:35 PM

I suggest wait for the transaction to be rejected by the nodes and tell the sender again to make a transaction.

That only works if you fully trust the sender to do so.

But, you do fully trust the sender, unless the sender won't take their goods in return until the transaction confirms.

Also, why telling the sender to make another transaction and not just rebroadcast the same?

Findingnemo

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Quote from: Mia Chloe on April 11, 2024, 01:29:42 PM

Just like many other members here have spotted out, the fee used to broadcast that transaction is very low. Observing the mempool for a week now , lowest priority fees have been around about 7 - 9 sat/bytes. Judging from this it may take weeks or even forever for such transactions to be confirmed. However the few couple of options I think you can take is either you convince the sender to bump the fee ( if he initially enabled RBF) . Or alternatively you can make use of accelerators probably via BTC. Since their free service have been flooded with bots lately, you can opt for a paid acceleration.

We shouldn't have to convince anyone if we are ready to few bucks from our pocket and that's the only way if the funds are coming from custodian service. ViaBTC free acceleration works these days and anyone who meet 10 sat/byte or 18sat/vb can do it for free but now we have only 20 free slots. Paid acceleration should not be recommended unless there is no other way.

Quote from: BitMaxz on April 11, 2024, 12:30:35 PM

Not a good idea to do CPFP with this transaction it would cost much if you do CPFP I suggest wait for the transaction to be rejected by the nodes and tell the sender again to make a transaction.

I have checked the parents of these transactions which all of them are confirmed so CPFP is not a bad option and economical considering the alternative which is acceleration.

LoyceV

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Quote from: BitMaxz on April 11, 2024, 12:30:35 PM

I suggest wait for the transaction to be rejected by the nodes and tell the sender again to make a transaction.

That only works if you fully trust the sender to do so.

CPFP shouldn't be that expensive (compared to the value of the transaction). Just enable coin control, select the unconfirmed input, spend it by sending to yourself, and add a significant fee. You waited a day too long though: fees are up a lot now.

Mia Chloe

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Just like many other members here have spotted out, the fee used to broadcast that transaction is very low. Observing the mempool for a week now , lowest priority fees have been around about 7 - 9 sat/bytes. Judging from this it may take weeks or even forever for such transactions to be confirmed. However the few couple of options I think you can take is either you convince the sender to bump the fee ( if he initially enabled RBF) . Or alternatively you can make use of accelerators probably via BTC. Since their free service have been flooded with bots lately, you can opt for a paid acceleration.

BitMaxz

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Quote from: GekkeBelg on April 11, 2024, 12:35:18 PM

When (approximately) will the transaction be rejected by the nodes?

I don't know the exact time but usually a week nodes should reject it but better to ask the sender what wallet he used to send the BTC
Because some wallets like Blockchain wallet it always rebroadcast unconfirmed transactions same goes for exchanges.

GekkeBelg

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Quote from: BitMaxz on April 11, 2024, 12:30:35 PM

Not a good idea to do CPFP with this transaction it would cost much if you do CPFP I suggest wait for the transaction to be rejected by the nodes and tell the sender again to make a transaction.

Since it's 3 days ago wait for 4 days or more and ask him to check the transaction if it was already rejected and ask him to send it again with a recommended fee suggested by the mempool.space

however, if you need the funds right away and you already deal with the sender then you don't have a choice but to use the CPFP it's just too costly.

I do not need the funds right now.
So the plan is wait until it gets rejected and then tell the sender to send it again (which he will do, I have no doubt about that)?

When (approximately) will the transaction be rejected by the nodes?

BitMaxz

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Not a good idea to do CPFP with this transaction it would cost much if you do CPFP I suggest wait for the transaction to be rejected by the nodes and tell the sender again to make a transaction.

Since it's 3 days ago wait for 4 days or more and ask him to check the transaction if it was already rejected and ask him to send it again with a recommended fee suggested by the mempool.space

however, if you need the funds right away and you already deal with the sender then you don't have a choice but to use the CPFP it's just too costly.

promise444c5

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Quote from: GekkeBelg on April 11, 2024, 11:58:35 AM

13cbbbaa8575e7e596505d1318418d2cd7d595d2c92e1525ef1ab75cfa5cc556

Your fee is way too low compared to the current recommended fee by mempool

Check this:

Although the fee is relative high as the mempool is so congested right now you should wait for it to be less congested even if you will RBF it

Charles-Tim

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Quote from: GekkeBelg on April 11, 2024, 11:45:21 AM

Any experts here who can shed their light on this case? I received this payment about 3,5 days ago and it's still unconfirmed.
Should I be worried that it might stay unconfirmed forever or will it for sure be confirmed sooner or later? But realistically, how long can it take?

The mempool is so congested right now and it might take weeks or more that transaction can get confirmed. It might be dropped from mempool later. Why not tell the sender to increase the fee using RBF because the transaction supports RBF.

Do not accept an unconfirmed transaction until it has one confirmation.

Findingnemo

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Quote from: GekkeBelg on April 11, 2024, 11:57:23 AM

Quote from: Findingnemo on April 11, 2024, 11:49:15 AM

The fee used is too low acording to the current mempool status. The transaction could say longer up to 14 days before nodes drop them or it could be purged if the fee increases further.

Since you are using Electrum you could do CPFP for faster confirmation.

Well yes but I did not send this payment to myself. It came from an external party and I have no control over their actions.
Can I still do something then to speed it up?

And what does "nodes drop them" mean? Does this mean it gets returned to sender?

CPFP (Child Pays for Parent) is done from the receiving end and in Electrum you can see an option to do that by right clicking on that TX from the history tab.

It will be slightly more expensive than RBF but if that transaction you are receiving has unconfirmed parents too than I won't recommend doing CPFP either.

GekkeBelg

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Quote from: stompix on April 11, 2024, 11:58:24 AM

Quote from: GekkeBelg on April 11, 2024, 11:45:21 AM

But realistically, how long can it take?

Right now no crystal ball will be able to tell you, it might be till the weekend or two months.
It's a small tx, you have no unconfirmed parents it seems, so you could either try to accelerate it (not that I recommend it) or do a CPFP transaction, which would be way cheaper.
You have a guide on CPFP here:
https://bitcointalksearch.org/topic/--5285192

Ps, for anyone wondering, here is the tx:

https://mempool.space/tx/13cbbbaa8575e7e596505d1318418d2cd7d595d2c92e1525ef1ab75cfa5cc556

Well, I am not very technical and would not prefer to try some technical tricks to speed it up, if not completely neccessary.

If you guys say that it will probably be confirmed within a week, or at least have 99,9% to be confirmed within 2 months. Then that is fine for me and I will leave it alone.

Topic: Received a payment with low fees, stuck already for 3,5 days now (Read 360 times)