Bitcoin's Child Pays For Parent (CPFP) Explained

CPFP (raising fee via child-pays-for-parent) implemented in Bitcoin Wallet.

CPFP (raising fee via child-pays-for-parent) implemented in Bitcoin Wallet. submitted by BitcoinWallet to Bitcoin [link] [comments]

To all Bitcoin wallet makers: Please include CPFP as standard - both TX and RX wise

To get rid of these many posts "my tx does not confirm after 48 hours", please include CPFP support as an industry standard feature.
This means:
This should really be a wallet standard feature nowadays, both for online wallet services as well as for independent wallets, and actually I am surprised that even wallet leaders like mycelium or electrum don't support it yet. Functionally it is pretty easy to implement.
submitted by Amichateur to Bitcoin [link] [comments]

I tried to bump a transaction time using CPFP in the Mycelium app, and now half of the balance on my wallet is being transferred to another address. What is going on? Did i just make an expensive mistake? /r/Bitcoin

I tried to bump a transaction time using CPFP in the Mycelium app, and now half of the balance on my wallet is being transferred to another address. What is going on? Did i just make an expensive mistake? /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

I tried to bump a transaction time using CPFP in the Mycelium app, and now half of the balance on my wallet is being transferred to another address. What is going on? Did i just make an expensive mistake? /r/Bitcoin

I tried to bump a transaction time using CPFP in the Mycelium app, and now half of the balance on my wallet is being transferred to another address. What is going on? Did i just make an expensive mistake? /Bitcoin submitted by cryptoanalyticabot to cryptoall [link] [comments]

Ledger Wallet Bitcoin Chrome app v1.6.17 released: CPFP, custom fees, verify receive address on device...

Ledger Wallet Bitcoin Chrome app v1.6.17 released: CPFP, custom fees, verify receive address on device... submitted by murzika to ledgerwallet [link] [comments]

Ledger Wallet Bitcoin Chrome app v1.6.17 released: CPFP, custom fees, verify receive address on device...

Ledger Wallet Bitcoin Chrome app v1.6.17 released: CPFP, custom fees, verify receive address on device... submitted by murzika to Bitcoin [link] [comments]

Transaction in limbo from my Mycellium wallet and wallet doesn't sync, should I use CPFP ? /r/Bitcoin

Transaction in limbo from my Mycellium wallet and wallet doesn't sync, should I use CPFP ? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

I am Lost! CPFP and Electrum Wallet Help plz.... /r/Bitcoin

I am Lost! CPFP and Electrum Wallet Help plz.... /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

[uncensored-r/Bitcoin] I am Lost! CPFP and Electrum Wallet Help plz....

The following post by stevejazzx is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7capxg
The original post's content was as follows:
If anyone can help this is driving me crazy
Have these two transactions stuck - txids below
https://1drv.ms/f/s!Am8jmLbbgAGLibMNlRfWyJHf8-VJmw
https://www.blocktrail.com/BTC/tx/539aacfad37abbfeb2aaba706706689dab680326420c7714abb6669a821bdeb3
https://www.blocktrail.com/BTC/tx/5001fb675fc6f245c1cb36f688077f299d4b62d4ebc7ae5d96a16d5ff5961b82
When I attempt child pays for parent it says max fee exceeded.
I had dynamic fees on since start
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

To all Bitcoin wallet makers: Please include CPFP as standard - both TX and RX wise /r/Bitcoin

To all Bitcoin wallet makers: Please include CPFP as standard - both TX and RX wise /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Ledger Wallet Bitcoin Chrome app v1.6.17 released: CPFP, custom fees, verify receive address on device...

Ledger Wallet Bitcoin Chrome app v1.6.17 released: CPFP, custom fees, verify receive address on device... submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Danger: Be Careful with Samourai Wallet

The BIP39 derivation key from some versions looks like to be wrong. Previously, I had used the same paper backup to recover it (18 months ago) from an old phone that broke the screen.
Recently I migrated my phone (which bricked) to a new one. Both the backup and the BIP 39 did provide the same set of addresses.
I asked the Support, and for the second time (the first time I payed more than 300$ in fees due to a Replace by Fee order was called as a CPFP without my previous consensus), I had a terrible experience with them, they did not even reply explaining possible solutions.
The aforementioned explanation is what I suggest that happened due to some experience I have as developer.
Another thing I asked them was to provide to me the releases of the previous versions and they said they would not provide that on email. They suggest me to look at their github release (I believe I would be able to compile their project and try to create the Android Apk, but I did not try because it would surely consume time, and luckily I had the option to try with the old screen broken phone).
The repaired old phone had the software installed and configured, then, with the pin I was able to rescue the bitcoins.
In summary, from now on, I do not plan to use none of the softwares developed by them anymore. The communication is terrible and lost my credibility.
I understand that the software is not Beta but some core features should already be stable.
In this sense, it is surely hard to me to keep trusting in their team.
Use hardware or paper wallets (generate public keys offline and save them) if you want to hold as a reserve. If you have recommendation for a trustable Android one it would be good to hear.
submitted by vncoelho to Bitcoin [link] [comments]

Possibly scammed, need any technical advice please! :)

Hi bitcoin!Situation:
I am a professional poker player and ventured deep into the abyss of shady/dodgy sites. Why I did so is still a mystery to me. Long story short, I finally made two withdrawals totaling approximately $3,500 to $4,000 via BTC. Next day, I load up my Ledger and see I have my balance. Awesome!
Oh wait...it's not spendable.Surely it just hasn't confirmed yet, right? No big deal.
Then I look at the transactions...https://blockstream.info/tx/35c1ff29f22c251b67829ce6046a7441aa81dd67d1b6b3fffb3c518fa7a19b2b
andhttps://blockstream.info/tx/e65394e7a7c8fce0eeabef3709368ad032bee7a531fed6ac002823c4ad697970
Previous withdrawals were sent to me with a more normalized fee structure.These were sent with what looks like a near-zero fee.
With my limited technical understanding of BTC, this means the transaction will either get stuck for a VERY long time, or it will never confirm and eventually be returned to him.This person has blocked me on socials and has said on the discord server for the site that "the site is better off without him"
(Basically as a good professional player he didn't want me beating his small community of players)
I'm ok with this as long as I don't get scammed.
Is there anything I can do at this point?

Edit #1: Thanks a ton to u/jcoinner for the extensive help with spending the unspent coins via CPFP (child pays for parent) The transaction appears to be confirmed!
Using CPFP has successfully spent the unconfirmed coins back to a different wallet of mine.
The txid is: 6d65c98ea01bad8d98045794729b7d1b93936a11faad0e3bd126e9223d2ee297
and appears to show a confirm and my coins are spendable.
I believe this persons' intention was
"Send a transaction that's very likely to fail and if it does I'll scam and if it doesn't...oh well."

Thank you so much reddit!

submitted by toast4breakfastSB to Bitcoin [link] [comments]

Kinda hard question for newbie

Let's imagine a situation: a dude pays me and offers to reduce the transaction amount by a commission. I'm of course a little shocked, well, I tell him that put the minimum commision, it will crawl. and here it hasn't come for this minimum wage for 11 days. and in the mempool, the transaction is stored for a maximum of 14 days. and then I understand that I will be left without anything at all, and I have no trust in the dude. tell me, can I turn cpfp for him if his RBF function is not activated? that is, I do not need to rely on the settings of my counterparty's bitcoin wallet if I am greedy with commissions and then, if I am not at all lucky, I "push" it through cpfp? and if I did cpfp, then is the first part of the transaction considered updated, which knocks down its 14 day timer or not?
submitted by siegsage to Electrum [link] [comments]

"My transaction is stuck, what to do?" - an explainer [DRAFT]

In the last days we have been experiencing a sharp rise in price, which is historically correlated with many people transacting over the Bitcoin network. Many people transacting over the Bitcoin network implies that the blockspace is in popular demand, meaning that when you send a transaction, it has to compete with other transactions for the inclusion in one of the blocks in the future. Miners are motivated by profits and transactions that pay more than other transactions are preferred when mining a new block. Although the network is working as intended (blockspace is a scarce good, subject to supply/demand dynamics, regulated purely by fees), people who are unfamiliar with it might feel worried that their transaction is “stuck” or otherwise somehow lost or “in limbo”. This post attempts to explain how the mempool works, how to optimize fees and that one does not need to worry about their funds.

TL;DR: Your funds are safe. Just be patient* and it'll be confirmed at some point. A transaction either will be confirmed or it never leaves your wallet, so there is nothing to worry about in regards to the safety of your coins.

You can see how the mempool "ebbs and flows", and lower fee tx's get confirmed in the "ebb" times (weekends, nights): https://jochen-hoenicke.de/queue/#0,30d
* if you are in hurry there are things like RBF (Replace By Fee) and CPFC (Child Pays For Parent), which you can use to boost your transaction fees; you will need an advanced wallet like Bitcoin Core or Electrum for that though. Keep also in mind that this is not possible with any transaction (RBF requires opt in before sending, f.ex). If nothing else works and your transaction really needs a soon confirmation, you can try and contact a mining pool to ask them if they would include your transaction. Some mining pools even offer a web-interface for this: 1, 2.
Here’s how Andreas Antonopoulos describes it:
In bitcoin there is no "in transit". Transactions are atomic meaning they either happen all at once or don't happen at all. There is no situation where they "leave" one wallet and are not simultaneously and instantaneously in the destination address. Either the transaction happened or it didn't. The only time you can't see the funds is if your wallet is hiding them because it is tracking a pending transaction and doesn't want you to try and spend funds that are already being spent in another transaction. It doesn't mean the money is in limbo, it's just your wallet waiting to see the outcome. If that is the case, you just wait. Eventually the transaction will either happen or will be deleted by the network.
tl;dr: your funds are safe

How is the speed of confirmations determined in bitcoin?

Open this site: https://jochen-hoenicke.de/queue/#0,2w
Here you see how many transactions are currently (and were historically) waiting to be confirmed, i.e how many transactions are currently competing with your transaction for blockspace (=confirmation).
You can see two important things: the differently coloured layers, each layer representing a different fee (higher layer = higher fees). You can point at a layer and see which fees (expressed in sat/byte) are represented in this layer. You can then deduct which layer your own transaction is currently at, and how far away from the top your position is (miners work through the mempool always from the top, simply because the tx's on top pay them more). You can estimate that each newly mined block removes roughly 1.xMB from the top (see the third graph which shows the mempool size in MB). On average, a new block is produced every ten minutes. But keep in mind that over time more transactions come into the mempool, so there can be periods where transactions are coming faster than transactions being “processed” by miners.
The second important observation is that the mempool "ebbs and flows", so even the lower paid transactions are periodically being confirmed at some point.
In short: what determines the speed of a confirmation is A) how high you set the fees (in sat/byte), B) how many other transactions with same or higher fees are currently competing with yours and C) how many transactions with higher paid fees will be broadcast after yours.
A) you can influence directly, B) you can observe in real time, but C) is difficult to predict. So it's always a little tricky to tell when the first confirmation happens if you set your fees low. But it's quite certain that at some point even the cheap transactions will come through.

So what happens if my transaction stays unconfirmed for days or even weeks?

Transactions are being broadcast by the full nodes on the network. Each node can adjust their settings for how long they keep unconfirmed transactions in their mempool. That’s why there is not a fixed amount of time after which a transaction is dropped from the mempool, but most nodes drop unconfirmed tx’s after two weeks [IS THIS CORRECT?]. This means that in the absolute worst case the unconfirmed transaction will simply disappear from the network, as if it never happened. Keep in mind that in those two weeks the coins never actually leave your wallet. It’s just that your wallet doesn’t show them as “available”, but you still have options like RBF and CPFP to get your transaction confirmed with higher fees, or to “cancel” your transaction by spending the same coins onto another address with a higher fee.

Helpful tools to estimate fees for future transactions:

Here are some resources that can help you estimate fees when sending a bitcoin transaction, so you don't end up overpaying (or underpaying) unnecessarily. Keep in mind that in order to take advantage of this, you need a proper bitcoin wallet which allows for custom fee setting. A selection of such wallets you can find here or here.
The order here is roughly from advanced to easy.
1) https://jochen-hoenicke.de/queue/#0,24h
Here you can see a visualization of how many unconfirmed transactions are currently on the network, as well as how many were there in the past. Each coloured layer represents a different fee amount. F.ex the deep blue (lowest layer) are the 1sat/byte transactions, slightly brighter level above are the 2sat/byte transactions and so on.
The most interesting graph is the third one, which shows you the size of the current mempool in MB and the amount of transactions with different fee levels, which would compete with your transaction if you were to send it right now. This should help you estimating how high you need to set the fee (in sat/byte) in order to have it confirmed "soon". But this also should help you to see that even the 1sat/byte transactions get confirmed very regularly, especially on weekends and in the night periods, and that the spikes in the mempool are always temporary. For that you can switch to higher timeframes in the upper right corner, f.ex here is a 30 days view: https://jochen-hoenicke.de/queue/#0,30d. You clearly can see that the mempool is cyclical and you can set a very low fee if you are not in hurry.
2) https://mempool.space
This is also an overview of the current mempool status, although less visual than the previous one. It shows you some important stats, like the mempool size, some basic stats of the recent blocks (tx fees, size etc). Most importantly, it makes a projection of how large you need to set your fees in sat/byte if you want your transaction to be included in the next block, or within the next two/three/four blocks. You can see this projection in the left upper corner (the blocks coloured in brown).
3) https://whatthefee.io
This is a simple estimation tool. It shows you the likelihood (in %) of a particular fee size (in sat/byte) to be confirmed within a particular timeframe (measured in hours). It is very simple to use, but the disadvantage is that it shows you estimates only for the next 24 hours. You probably will overpay by this method if your transaction is less time sensitive than that.
4) https://twitter.com/CoreFeeHelper
This is a very simple bot that tweets out fees projections every hour or so. It tells you how you need to set the fees in order to be confirmed within 1hou6hours/12hours/1day/3days/1week. Very simple to use.
Hopefully one of these tools will help you save fees for your next bitcoin transaction. Or at least help you understand that even with a very low fee setting your transaction will be confirmed sooner or later. Furthermore, I hope it makes you understand how important it is to use a wallet that allows you to set your own fees.
submitted by TheGreatMuffin to u/TheGreatMuffin [link] [comments]

Can I boost the tx fee with a different wallet?

Let's say I send from wallet 1 a bitcoin tx to address blalba. The fee used was too low so the tx is stuck in the mempool for some time. Can I use a separate Bitcoin wallet to bump up the fee? For example, by sending a small amount with a higher fee, to the same address (blabla). Will it bump up the fee of the first tx, or does it create a separate tx ID? How would an increase of tx fee from a different wallet be possible, if at all, otherwise?
submitted by MuliBoy to Bitcoin [link] [comments]

Transaction has been unconfirmed for a day and a half.

I’ve tried to accelerate the transaction but it can’t recognise the TXID. Any guidance will help me, thank you.
submitted by VertAssassin to Bitcoin [link] [comments]

Help , sent with low fee!

Hi , fellow bitcoiners,

i made a silly mistake and sent a transaction with a very low fee via blockchain wallet (yes i know its a shit wallet , i realised today)

TX: f96b6abef2f7c4eb7497d7db4b2bf709c67871665881efe8e3b8dfe444fca7a9
i dont know what to do, i tried sending a support message to blockchain but im not sure if thats the right thing to do. I did however hear about btc accelerators, but it says my fee is so low it wont accept it. And frankly , this is all the bitcoin i have so i cannot pay for the service.
sorry for the bad grammar etc , im on my phone.

Does anyone have a solution or can help me with this mess. I've waited up to 4 days already!
submitted by daigunn to Bitcoin [link] [comments]

Technical Introduction to Bitcoin - Assorted Topics

I've been writing educational twitter threads on technical topics related to Bitcoin. Figured I'd share them here too for anyone whose interested.
Learn you some:
- Hash Functions
- Bitcoin Mining
- Anatomy of a Transaction
- Transaction Fees
- Consolidation Transactions
- Difficulty Adjustment
- Internet Censorship and Bitcoin
- Private Keys, Public Keys, Digital Signatures
- Bitcoin Addresses
- Child Pays for Parent (CPFP)
- Replace By Fee (RBF)
- Dollar, Debt, Inflation, and the Fed
- VPNs
- Bitcoin Seed Phrases
- Tor and the Dark Web
- Hot vs Cold Wallets
- Bitcoin Satellites
- Details of a 51% Attack
More to come!
submitted by deezydeezy to Bitcoin [link] [comments]

Does Trezor Wallet allow you to create a transaction with unconfirmed bitcoins?

Basically, I want to know if you can easily create a CPFP transaction on the Trezor. For example, you have 10 BTC in one of your Trezor accounts. You send someone 8 and let's say you set a super low fee of 1 sat/byte. The transaction sits unconfirmed for 1 day.
But since you know there is change coming back to you. Can you make another transaction from that account and select to send the 'MAX' amount of bitcoins (hoping the bitcoin in the change address will be included) and this time you set a super high fee so that the miner will pickup both the first low-fee transaction and also the second one?
I know this can be done in theory but I am wondering if the Trezor wallet will even allow you to try to 'spend' the change since it is unconfirmed? In other words, when you select to send 'MAX' on the Trezor will it select only confirmed bitcoins and ignore the BTC that are going into the change address from the previous transaction?
submitted by bjman22 to TREZOR [link] [comments]

I just made a transaction with coincloud ATM. They took 11.5% but I was desperate and had no other way to get btc quickly. The transaction is still in progress and not pending in my wallet. The support closed at 4pm pacific time. Does anyone know how long it takes to go through?

I just made a transaction with coincloud ATM. They took 11.5% but I was desperate and had no other way to get btc quickly. The transaction is still in progress and not pending in my wallet. The support closed at 4pm pacific time. Does anyone know how long it takes to go through? submitted by LadyForlornn to Bitcoin [link] [comments]

BlockSettle Terminal - new light-weight bitcoin wallet with integrated trading model

The BlockSettle Terminal is an open-source desktop wallet that offers integrated non-custodial trading of bitcoin. The wallet is based on goatpig’s continued development of the Armory open-source stack.
Wallet features: • BIP 32 (Hierarchical Deterministic) wallet(s) • Native Segwit, Nested Segwit, Legacy address support • Watching-Only wallets • Offline/Remote signing • Hardware Wallet support (Trezor / Ledger) • Network connectivity through remote or local server • Coin control • RBF/CPFP • Fee control • BIP 39 and Armory seed imports • Built-in blockchain explorer • Armory interoperability
The trading model is a hybrid between centralized and decentralized platforms. In our model, the bitcoin leg is non-custodial (removing custody risk) while the fiat leg is centralized (in order to pool liquidity). Trading is currently limited to testnet while users get acquainted with the model.
Trading features: • Request-for-Quote matching • OTC off exchange reporting • Encrypted chat • Products o Bitcoin vs fiat o Bitcoin vs Coloured Coin (coinjoin trading) o Fiat vs fiat (FX)
Webpage: https://www.blocksettle.com/
Github: https://github.com/BlockSettle/terminal https://github.com/BlockSettle/BlockSettleDB
CTO: goatpig https://bitcointalk.org/index.php?action=profile;u=7811
submitted by BlockSettle to Bitcoin [link] [comments]

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