Raw transactions are very powerful, and you can do a lot of interesting things by combining them with RBF. However, sometimes all you want to do is free up a transaction that's been hanging.
What is opt-in RBF?
You can now do that with a simple command, bumpfee. For example, to increase the fee of transaction ed5afea0ad44ddffb09b7cbf76f you would run:. The result is the automatic generation of a new transaction that has a fee determined by your bitcoin. If a transaction is stuck, and you don't want to wait for it to expire entirely, if you opted-in to RBF, then you can double-spend using RBF to create a replacement transaction or just use bumpfee.
Obviously, RBF is very helpful if you created a transaction with too low of a fee and you need to get those funds through. However, the ability to generally replace unconfirmed transactions with updated ones has more power than just that and is why you might want to continue using RBF with raw transactions, even following the advent of bumpfee.
Transaction replacement - Bitcoin Wiki
For example, you might send a transaction, and then before it's confirmed, combine it with a second transaction. This allows you to compress multiple transactions down into a single one, decreasing overall fees. It might also offer benefits to privacy.
Skip to content. Permalink master. Branches Tags. Nothing to show. Raw Blame. The replacement transaction pays an absolute higher fee than the sum paid by the original transactions. The replacement transaction does not contain any new unconfirmed inputs that did not previously appear in the mempool.
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Unconfirmed inputs are inputs spending outputs from currently unconfirmed transactions. The replacement transaction must pay for its own bandwidth in addition to the amount paid by the original transactions at or above the rate set by the node's minimum relay fee setting. The number of original transactions to be replaced and their descendant transactions which will be evicted from the mempool must not exceed a total of transactions.
Connect and share knowledge within a single location that is structured and easy to search. Meaning, is there a call that would help me with creating a transaction that will be accepted in a certain block target, given the current fee estimations? Ideally in the same way the GUI version already does it. I know it is possible to calculate that using getmempoolentry ancestorfees and ancestorsize and estimatesmartfee , but that is non-trivial.
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If your transaction is from Bitcoin Core's wallet, you can use the bumpfee command. It should do the same thing that the GUI does in order to create a replacement transaction with a higher fee. I think you can calculate fees manually by getting last block total fees divided on number of transactions in this block. Also you need to use summary amount of block transactions. It is not so hard to calculate it for your TX amount. Then you can rebuild your "stuck" transaction with a new fee. And broadcast this new transaction through the network.
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The best answers are voted up and rise to the top. Policy [4] : one or more transactions currently in the mempool original transactions will be replaced by a new transaction replacement transaction that spends one or more of the same inputs if,. Jump to: navigation , search. Navigation menu Personal tools Create account Log in.
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