Topic: Transactions (Compilation for newbies) (Read 846 times)
Do you need accelerator for your transactions, check this topic.
I don't think we're at a point where it's time to use accelerating services again.
That's right. Right now, there are about 2.000-2.200 unconfirmed transactions in the mempool according to Mempool.space. That isn't a lot. Two blocks in quick succession will bring this number down to around 0. 
Who need to accelerate your Bitcoin transactions
I'm not sure if this comment was intended to act as a bump or not, but regardless of that, despite seeing that in the past couple of days fees have been "slightly" higher, I don't think we're at a point where it's time to use accelerating services again. It is not just about security but also about cost. When you decide to use an altcoin to transfer your bitcoin's around that costs a lot more than just moving the bitcoins and paying the network fee even if at a higher rate. Because you'll have to first convert your funds to that altcoin (which costs an exchange fee that is growing with the size of the funds) and another to withdraw the funds and another to convert it back to bitcoin at the destination. That is all assuming the altcoin price didn't dump against bitcoin during that time, which we all know is not possible.
I know the cost to convert Bitcoin to altcoin on exchange, and risk of altcoin dump.I originally meant if I have Bitcoin and altcoins in my portfolio on exchanges or my non-custodial wallets, I will choose one to use to save transaction fee if possible. My decision will depend on how much is the transaction? If it is big for me, I choose Bitcoin.
Bitcoin is my first choice when I can broadcast my Bitcoin transaction with 1 sat/vbyte. If the fee is expensive, I will consider to use altcoins but I don't use altcoin network to move my fund if it's big fund.
It is not just about security but also about cost. When you decide to use an altcoin to transfer your bitcoin's around that costs a lot more than just moving the bitcoins and paying the network fee even if at a higher rate. Because you'll have to first convert your funds to that altcoin (which costs an exchange fee that is growing with the size of the funds) and another to withdraw the funds and another to convert it back to bitcoin at the destination. That is all assuming the altcoin price didn't dump against bitcoin during that time, which we all know is not possible. Not at all only bitcoin is safe heaven for all users but most of them don't realise this until they get fooled in some altcoin and lost funds.
Lose fund from transactions and lose fund from trading or investment are different. I think you implied about trading or investment, not transactions.Quote
When your send bitcoin in transaction you don't need to worry about it as the network is secured and most probably if you have paid the right fees then transaction will be confirmed within few minutes.We have seen million dolllars transaction being settled with $3-$5 of fees only in bitcoin with safety and which other coin you can trust with such amounts and whales also prefer bitcoin for such big transactions.
Bitcoin is my first choice when I can broadcast my Bitcoin transaction with 1 sat/vbyte. If the fee is expensive, I will consider to use altcoins but I don't use altcoin network to move my fund if it's big fund. 
If you are newbies and are not familiar with crypto transactions. You are not sure what cryptocurrency you should use for your transactions, let me give you my recommendation.
It is Bitcoin. Check out this tweet
https://howmanyconfs.com/
https://github.com/lukechilds/howmanyconfs.com
Litecoin: 316 confs 12h 48m
About 13 hours, instead of about 1 hour. Is Litecoin better and safer than Bitcoin for transactions, if you are moving big capital?
Not at all only bitcoin is safe heaven for all users but most of them don't realise this until they get fooled in some altcoin and lost funds.When your send bitcoin in transaction you don't need to worry about it as the network is secured and most probably if you have paid the right fees then transaction will be confirmed within few minutes.We have seen million dolllars transaction being settled with $3-$5 of fees only in bitcoin with safety and which other coin you can trust with such amounts and whales also prefer bitcoin for such big transactions.It is Bitcoin. Check out this tweet
Quote
Bitcoin moves nearly half a million dollars in value around the globe permissionlessly every second. It was never about transactions per second and coffee. It's all about value transacted per second and a new financial paradigm.
How many confirmations from altcoins will give you same power as 6 confirmations of Bitcoin?https://howmanyconfs.com/
https://github.com/lukechilds/howmanyconfs.com
Litecoin: 316 confs 12h 48m
About 13 hours, instead of about 1 hour. Is Litecoin better and safer than Bitcoin for transactions, if you are moving big capital?
Litecoin is compred with btc or ETH with fees matter but if you have a look at btc memepool you will find out that fees are not too high compared to gas even in network congestion.So be wise and adopt btc.
Why people should be using SegWit addresses.
Segwit address is one of best options for you to reduce your transaction fees. Choose a non custodial wallets that supports Segwit address.
Bech32 adoption
Segwit address is one of best options for you to reduce your transaction fees. Choose a non custodial wallets that supports Segwit address.
Bech32 adoption
If you are newbies and are not familiar with crypto transactions. You are not sure what cryptocurrency you should use for your transactions, let me give you my recommendation.
It is Bitcoin. Check out this tweet
https://howmanyconfs.com/
https://github.com/lukechilds/howmanyconfs.com
Litecoin: 316 confs 12h 48m
About 13 hours, instead of about 1 hour. Is Litecoin better and safer than Bitcoin for transactions, if you are moving big capital?
It is Bitcoin. Check out this tweet
Quote
Bitcoin moves nearly half a million dollars in value around the globe permissionlessly every second. It was never about transactions per second and coffee. It's all about value transacted per second and a new financial paradigm.
How many confirmations from altcoins will give you same power as 6 confirmations of Bitcoin?https://howmanyconfs.com/
https://github.com/lukechilds/howmanyconfs.com
Litecoin: 316 confs 12h 48m
About 13 hours, instead of about 1 hour. Is Litecoin better and safer than Bitcoin for transactions, if you are moving big capital?
I am looking for more topics about crypto transactions. If you know any topic, helpful and not yet listed in this topic, please let me know. I will much appreciate your kindness and help.
As for ViaBtc since it is a mining pool and it has mined a lot of transactions with low fees, it is legitimate. But unfortunately their system is broken and is using fee/byte rate not fee/vbyte. Which means when your SegWit transaction is paying 10 satoshi/vbyte they see it as paying less and you'll have to increase it to reach their threshold.
It was 5 sat/vbyte but because it is segwit address, I later found it to be 2.93 sat/byte on blockchain explorer. I think I will have to stop the wallet to be rebroadcasting the transaction because is is over 3 weeks now with no option for RBF and CPFP. I wanted to use paid acceleration via ViaBTC but $75 was requested for which is too much. When it comes to ViaBTC, you're right but in regards to Antpool, that's not the case [you can accelerate TXs with lower fees but the downside to that is the fact that unlike ViaBTC, even if you successfully manage to accelerate your transaction, you still have to deal with Antpool's own backlog of unconfirmed accelerated TXs]... In other words, they still have to find multiple blocks before you could see your TX in it.
Which means ViaBTC is still better, because if the acceleration is successful, the transaction will be included in the next block mined by the mining pool (ViaBTC). I want to recently use ViaBTC but I was unable to, the fee at 5 sat/vbyte while on Sunday the mempool was not congested and was at around 10 sat/vbyte.
ViaBTC always had a fee requirement of "at least 0.0001BTC/KB", regardless of the mempool's status but even then, that's still quite low.but free accelerators like the ones you mentioned still work for those that pay low fee but not too low fee.
When it comes to ViaBTC, you're right but in regards to Antpool, that's not the case [you can accelerate TXs with lower fees but the downside to that is the fact that unlike ViaBTC, even if you successfully manage to accelerate your transaction, you still have to deal with Antpool's own backlog of unconfirmed accelerated TXs]... In other words, they still have to find multiple blocks before you could see your TX in it. Free accelerators may still work, but it also determine on the fee paid, I want to recently use ViaBTC but I was unable to, the fee at 5 sat/vbyte while on Sunday the mempool was not congested and was at around 10 sat/vbyte. As I use the free accelerator, it displayed no enough fee.
Free accelerator is only working IF it is offered by a mining pool otherwise it is a scam. If they are paid and have no affiliation with any mining pool they are also scams.As for ViaBtc since it is a mining pool and it has mined a lot of transactions with low fees, it is legitimate. But unfortunately their system is broken and is using fee/byte rate not fee/vbyte. Which means when your SegWit transaction is paying 10 satoshi/vbyte they see it as paying less and you'll have to increase it to reach their threshold.
You might want to add the following threads as well:
Free accelerators may still work, but it also determine on the fee paid, I want to recently use ViaBTC but I was unable to, the fee at 5 sat/vbyte while on Sunday the mempool was not congested and was at around 10 sat/vbyte. As I use the free accelerator, it displayed no enough fee. The best is for someone to know about RBF which is a great tool to just pump the fee for ease, but free accelerators like the ones you mentioned still work for those that pay low fee but not too low fee. - FREE BTC Tx Accelerators. Stop paying for something that is free!
- It's outdated but there are still a couple of legit accelerators [ViaBTC and Antpool] while others on that list are broadcasting services only.
You might want to add the following threads as well:
- List of useful Bitcoin block explorers
- FREE BTC Tx Accelerators. Stop paying for something that is free!
- It's outdated but there are still a couple of legit accelerators [ViaBTC and Antpool] while others on that list are broadcasting services only.
Husires' topic is in.
You can also add this one to it, which can also be useful for newbies.
All about "stuck" transactions and what you can do to fix them
All about "stuck" transactions and what you can do to fix them
Nice index guide mate. I'm sure newbies can benefit from it. Just make sure to update the thread with additional compilation cause many are creating idnex guide like this but later on they will not update it.
Props to you OP for an effort to compile it just keep it up. Bump this thread once in a while so newbies can noticed it.
Props to you OP for an effort to compile it just keep it up. Bump this thread once in a while so newbies can noticed it.
*: Dead
FTX exchange was dead by greed of SBF. I don't remove that topic because it is a history and should be remembered.
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