Warning when transaction fee exceeds sent amount for bitcoin wallets?

Captain-Cryptory

newbie

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Quote from: HCP on June 14, 2020, 08:09:08 AM

Quote from: ?? on ??

... because sometimes when in hurry it's hard to pay the due regard to the details of transaction.

The simple solution to this is "Don't be in a hurry"... Being in a hurry leads to all sorts of mistakes during all sorts of activities...

You are right, it's always better to hold back with any activity but at the time of the market rush it's easy to forget about that especially when bitcoins are resting in wallet and do not take part in trading. Being under FOMO people have a tendency to do some reckless things. Which is why it would be such a great to have the proposed feature included. BTW a switch-off option could be considered as a way forward for those who don't like it.

nc50lc

legendary

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Self-proclaimed Genius

Quote from: Abdussamad on June 12, 2020, 03:20:51 AM

electrum warns you when you attempt to send with a larger fee than usual. in fact it confirms most transactions before signing them.

Tried with with 3.3.8 and it looks like this:
It'll only show if the user clicked "Send" directly, not when he used "Preview->Sign->Broadcast".

Sadly, I can't test it with 4.0 (unreleased version) because it won't let me change the fee to 1000sat/B manually without using "advanced" which will bring up the preview window.

HCP

legendary

Activity: 2086

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Quote from: ?? on ??

... because sometimes when in hurry it's hard to pay the due regard to the details of transaction.

The simple solution to this is "Don't be in a hurry"... Being in a hurry leads to all sorts of mistakes during all sorts of activities... Driving, Flying, Software Development, Using Bitcoin, Sex etc Tongue

There is a certain level of personal responsibility involved when it comes to Bitcoin... One should never take anything for granted and always check the basics:

- Correct address(es) used
- Correct amount to send
- Correct fee rate

joniboini

legendary

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Quote from: ?? on ??

The flashy pop-up box that gives a bump would made me think deeply before pushing the send button. Bat sadly developers don't calculate everything to avoid such transactions.

Well you can submit a request or pull it yourself as mentioned. Users should also be careful regardless whether the feature exist or not. You can't blame developers if you keep being reckless.

malevolent

legendary

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Quote from: OcTradism on June 11, 2020, 07:39:09 AM

I wonder that there are any bitcoin wallets have such a warning?

Bitcoin Core with default settings won't let you send a transaction with a fee exceeding maxtxfee (0.1 BTC), the same applies to raw transactions.

hulla

hero member

Activity: 1820

Merit: 566

Quote from: bob123 on June 11, 2020, 02:03:55 PM

What about generally checking the transaction before sending it?

I feel like this should be taken for granted. Do you never check for typos in the amount/fee ?
Do you really need a warning box for that?
I'd assume every person has the ability to check the amount, the fee and the recipient of a transaction before hitting the send button.

I believe the problem is from the OP ending and it either he's not using updated wallet or he only confirmed the recipient wallet to be correct and send the transaction without clicking the preview button for a better check of the transaction information.

Abdussamad

legendary

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electrum warns you when you attempt to send with a larger fee than usual. in fact it confirms most transactions before signing them.

it also supports testnet wallets so you can test this behaviour for yourself!

Upgrade00

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Professional Community manager

Quote from: bob123 on June 11, 2020, 02:03:55 PM

What about generally checking the transaction before sending it?

I would assume some users do not know how to calculate the most appropriate fees for a transaction based on how quickly they want it confirmed and how much they are willing to part with, some simply select the dynamic fee suggested by the wallet they are using (for wallets which has this feature), and in times of network clog this could go really high. And they will feel that is the only way to get their transactions confirmed at all. But double checking everything should be a practice when transacting using Bitcoin.

pooya87

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Quote from: OcTradism on June 11, 2020, 07:39:09 AM

I use Electrum wallet and I don't see the feature for such a warning (or I missed it).

whenever you find a feature lacking or want to see it improved (which is the case here with very high fee warning) you should let the developers of that wallet know* by opening a new issue on the project's github repository (eg. Electrum) or contacting them through other means like sending a PM on bitcointalk, tweet them,...
that is the only way these "free" and "open source" projects can improve.

* or better yet create it yourself by modifying the open source project and open a pull request, of course that works when you are familiar with the programming language used by that wallet.

bob123

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What about generally checking the transaction before sending it?

I feel like this should be taken for granted. Do you never check for typos in the amount/fee ?
Do you really need a warning box for that?

If you are that kind of a person, who doesn't check everything.. feel free to not use a hardware wallet.
The security with a hardware wallet is that you actually have to double check the transaction details on a trusted device.
If you don't check anything, you are going to approve everything. And this means that a simple malware on your online pc can send wrong transactions to your hardware wallet which will be approved by a user who doesn't check anything.

I'd assume every person has the ability to check the amount, the fee and the recipient of a transaction before hitting the send button.

nc50lc

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Self-proclaimed Genius

Electrum will display "Warning: high fee!" in the "transaction details" when you click the "preview" button:

I don't know if users will notice that Undecided

OcTradism

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Activity: 1722

Merit: 801

Minutes ago, I thought of the warning message for Bitcoiners whenever they click on Send Bitcoin with transaction fee exceeds sent amount of bitcoin. I use Electrum wallet and I don't see the feature for such a warning (or I missed it). I wonder that there are any bitcoin wallets have such a warning?

Quote from: OcTradism on June 11, 2020, 07:34:52 AM

From my mind, I only think of the warning on services, platforms, wallets whenever one person make a transaction. A warning like that
"Your transaction fee exceeds the amount you will send out for this transaction. Please double-check to make sure that you already set up your sent amount and your fees correctly!"

Topic: Warning when transaction fee exceeds sent amount for bitcoin wallets? (Read 494 times)