sweeping private key - mempool min fee not met

o_e_l_e_o

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Quote from: Charles-Tim on April 28, 2021, 05:26:38 AM

But, this is a very possible means private key will be lost.

As long as he saves the signed transaction, it's not a huge deal if the private key is lost. He just has to wait until we get back to 1 sat/vbyte levels (or whatever his transaction is paying), and then rebroadcast the transaction then. His coins are stuck in limbo for the time being, but as long as he doesn't lose the signed transaction, his coins aren't lost. Alternatively, once nodes will start accepting his transaction in to their mempools, he can make a CPFP transaction to confirm the coins.

OP, what software did you use to sweep the private key? There's a small chance it may be saved somewhere and you could try again. Although why you would ever destroy a private key is beyond be:

Quote from: satoshi on October 03, 2010, 03:54:07 PM

Sigh... why delete a wallet instead of moving it aside and keeping the old copy just in case? You should never delete a wallet.

The Sceptical Chymist

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Quote from: Charles-Tim on April 28, 2021, 05:26:38 AM

But, I am thinking how can someone destroy paper wallet when the sweeping is not yet successful.

It does seem odd that someone would throw away (or destroy, I guess) a paper wallet before even getting that error message--OP must have put a torch to that wallet damn quick!

So is ranochigo correct in saying that the transaction hasn't been broadcast on the network yet? That error message does make it sound as if that's true, but I've never come across that one before. Did the wallet stop displaying the private key after OP typed it in? This situation seems very weird--and yeah, I hope OP is able to up the fee or somehow rebroadcast the transaction when whatever fee he can pay is sufficient. I also hope for his sake that that wallet didn't have a huge amount of bitcoin on it. Jeez.

Pmalek

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What fee rate did you use when you constructed the transaction? The mempool looks pretty good right now compared to what we had in the last 10 days. We have had 5 blocks in the last 30 minutes and the required network fees are dropping. Transactions of 11-12 sats/vByte are entering blocks right now, and everything below 4 sats is being purged from the mempools.

Charles-Tim

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Quote from: ranochigo on April 28, 2021, 05:14:55 AM

<...>

Never mind that. Truly, the fee in such transaction has to be increased as it is not yet broadcasted. But, I am thinking how can someone destroy paper wallet when the sweeping is not yet successful. I hope he will be able to get throught this, he should be able to increase the fee at the moment of the warning. But, this is a very possible means private key will be lost.

ranochigo

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Quote from: Charles-Tim on April 28, 2021, 05:09:57 AM

How is this possible, it is not possible, a broadcasted transaction will still remain in mempool for a long time and the transaction can not be rebroadcasted until it finally find its way out of mempool which might not even be nearly possible, or take long and which can be frustrating. So, nothing like recreating a transaction with a high fee than to follow the second option in which he has to wait until the mempool is not congested, but the other means is to use paid accelerator which can come with very high fee, but which can worth it while transferring very huge amount of bitcoin in such stuck transaction.

Read the topic again.

Mempool min fee not met means that the transaction isn't accepted or broadcasted by the server as it violates the pool's mempool min fee. The transaction is not in the mempool in the first place. No transaction accelerators* will work, it isn't in the mempool.

* Unless there is an accelerator which accepts the raw TX, not really sure about this.

Charles-Tim

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Quote from: ranochigo on April 28, 2021, 04:47:02 AM

You need to create another transaction with a higher fee if you need the transaction to be confirmed now. That is impossible without the private key.

How is this possible, it is not possible, even with the private key, a broadcasted transaction will still remain in mempool for a long time and the transaction can not be rebroadcasted until it finally find its way out of mempool which might not even be nearly possible, or take long and which can be frustrating. So, as the transaction is already in the mempool and not yet removed, nothing like recreating a transaction with a high fee than to follow the second option in which he has to wait until the mempool is not congested, but the other means is to use paid accelerator which can come with very high fee, but which can worth it while transferring very huge amount of bitcoin in such stuck transaction.

mocacinno

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You could theoretically find an online form that allows you to push your transaction to several nodes... Some nodes might have different settings regarding to their mempool. This being said: even if you find such a node, your transaction will probably end up in their mempool and their mempool alone, since their peers probably won't allow your transaction in their mempool when it's broadcasted to them... So your odds of getting such a transaction confirmed "just like that" is very small...

I guess you're stuck with either waiting untill the average feerate drops dramatically, or you can find a BIG mining pool that's willing to include your transaction into the block they're trying to solve... You'll probably have to offer them a big reward for doing this tough...

ranochigo

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You need to create another transaction with a higher fee if you need the transaction to be confirmed now. That is impossible without the private key.

Since you've already destroyed the private key, you have to wait for the minimum mempool fees to be lower than the fees that you've paid for it to be in the mempool. Might be a good idea to have a backup of the raw transaction.

wayne22

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Hi,

I ve tried to sweep a private key - and already destroyed the paper (don't ask :-()

Now I m getting the Error

"mempool min fee not met"

Is there a possibility to change the fee?

Thanks

Topic: sweeping private key - mempool min fee not met (Read 115 times)