Re: How can I speed up a Bitcoin transaction?

#2
Hey, @kenzie!

Since the Bitcoin network is peer-to-peer, the fee costs are the same for everyone.

If you want your transaction to be confirmed faster than everyone's else, you should set a higher transaction fee in your wallet.
If you have already sent a TX and want to speed it up post-factum by using the 'replace-by-fee' trick. As long as your transaction is not confirmed, you can send your funds again but with higher fees. This new TX with a higher fee will attract miners to 'seal' your payment primarily.
You can learn more here: https://themerkle.com/what-is-replace-by-fee/

However, the last days the transaction cost in the Bitcoin network is insanely high, so this method may seem a bit irrelevant 😂
0 x

Re: How can I speed up a Bitcoin transaction?

#3
alexanderisora wrote:
December 19th, 2017, 3:37 am
Hey, @ kenzie!

Since the Bitcoin network is peer-to-peer, the fee costs are the same for everyone.

If you want your transaction to be confirmed faster than everyone's else, you should set a higher transaction fee in your wallet.
If you have already sent a TX and want to speed it up post-factum by using the 'replace-by-fee' trick. As long as your transaction is not confirmed, you can send your funds again but with higher fees. This new TX with a higher fee will attract miners to 'seal' your payment primarily.
You can learn more here: https://themerkle.com/what-is-replace-by-fee/

However, the last days the transaction cost in the Bitcoin network is insanely high, so this method may seem a bit irrelevant 😂
Thanks for the reply, @alexanderisora.
As I can see, bitcoin at the moment cannot replace fiat money, am I right?
0 x
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Re: How can I speed up a Bitcoin transaction?

#4
kenzie wrote:
December 19th, 2017, 3:45 am
alexanderisora wrote:
December 19th, 2017, 3:37 am
Hey, @ kenzie!

Since the Bitcoin network is peer-to-peer, the fee costs are the same for everyone.

If you want your transaction to be confirmed faster than everyone's else, you should set a higher transaction fee in your wallet.
If you have already sent a TX and want to speed it up post-factum by using the 'replace-by-fee' trick. As long as your transaction is not confirmed, you can send your funds again but with higher fees. This new TX with a higher fee will attract miners to 'seal' your payment primarily.
You can learn more here: https://themerkle.com/what-is-replace-by-fee/

However, the last days the transaction cost in the Bitcoin network is insanely high, so this method may seem a bit irrelevant 😂

Thanks for the reply, @alexanderisora.
As I can see, bitcoin at the moment cannot replace fiat money, am I right?

I don't think Bitcoin will ever replace fiat cash. Bitcoin is a great tool for storing money, not to spend as Satoshi predicted. However, there are 1300+ altcoins that can potentially be a replacement for fiat money.
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Re: How can I speed up a Bitcoin transaction?

#6
cherrywins wrote:
December 21st, 2017, 4:52 pm
I think it is time to use some another coin for ordinary transactions because fees for BTC transactions are too high and transfer takes a lot of time.
You are correct, Cherry. There are many altcoins that are more suitable to become a replacement for PayPal and cash.
Bitcoin today is more a tool for investment, not for trading and exchanging.
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Re: How can I speed up a Bitcoin transaction?

#9
greencarpet wrote:
December 23rd, 2017, 2:58 pm
Also, if you don't get any confirmations for a few days (I had this problem recently), your transaction will drop and you'll get your money back and you can try again.
I haven't heard about this before. Is it a Bitcoin-network specific feature?

RouletteSensei wrote: You can try with this method, but usually you must be quick when the hour ticks
https://pool.viabtc.com/tools/txaccelerator/
But yeah it's "better" for now to pay at least 100k sat.
Wow, great idea to pay directly to miners and ask them to verify your TX! Do all popular mining pools offer this functionality?
0 x
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