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Bitcoin Fees: What are RBF and CPFP? What to do if my bitcoin transaction gets stuck?!?
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- Опубликовано: 16 авг 2024
- What can you do if your bitcoin transaction is stuck? There are two technical options your bitcoin wallet might give you to deal with stuck bitcoin transactions, these are replace by fee and child pays for parent. In this video, Andreas explains what these things are and how to use them.
Chapters
0:00 Can you explain the difference between replace by fee and child pays parent? What are the use cases?
0:48 What is the replace by fee (RBF) feature on some bitcoin wallets?
1:54 RBF is something the sender of a transaction does
2:52 What is child pays for parent?
3:02 CPFP is something the sender or recipient or sometimes by any third party can do to get a stuck transaction confirmed. How does it work?
4:08 What is a chained transaction?
4:30 Understanding mining incentives and fee per byte
5:54 Use case
7:00 Difference between replace by fee (RBF) and child pays for parent (CPFP)
7:45 Lightning network use case
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Thanks for watching, liking, and sharing this video. Let me know what topics you'd like me to discuss next in the comments below. And remember, I'll never tell you what to invest in or suggest you contact someone on telegram, whatsapp, or anywhere else for investment advice. This channel is focused on teaching not telling. Happy learning!
Great videos, thanks for these. I feel Bitcoin even if everyone say its "old" and "slow" and this and that is so very complex and wonderful and works flawlessly.
The one thing that is of concern is the fees. I know there are layer2 but that makes things even more complex.
I think Bitcoin is great for store of value but i was thinking of something like Dash for speedy transaction. Any thoughts on that? have you looked into Dash? they have some cool tech with chainlock and instant send....
Dear Andreas, it would be great if you could share an explanatory video about Non-fungible Tokens, especially in the domain of art. I still don't understand why anybody would pay huge sums for -- let's say -- a digital image. What is that added value? Thanks a lot!
I invested on a platform and they paid me out with USDT token in my Coinbase account. I tried to change to BTC and i tried to buy other tokens but it seems my token has no value. They mentioned Crypto RBF. i am ready to pay out a % when cashed pls help me
You are very helpful, thank you for doing what you do.
Excellent video! Thank you!
What do you do? USE BITCOIN BCH
Hi, i made a trancation or 6k with a 1.35$ its been stuck for 8 days now and mempool still say in uncomfirm what should i do please help me ?
He should start a coin called the Social Justice Coin that would suit him fine.
I suppose miners check whether all of the parents fit in a single block before deciding to mine that chain? Because even if the average fee beats everything else in the mempool, the miner would have to successfully mine a block full of low fees before competing with everyone to mine the block including the actual CPFP reward. That would not make economic sense.
So in the edge case of a user doing CPFP for a very long chain (or list) of transactions, he/she has to first make sure that all of these fit in a single block, and then make sure the resulting average fee/bytes not only beats the current lowest transaction for the next block, but the average of all those transactions that the miner would have to relegate back in the mempool.
Thanks.
my transaction is stuck going from my cashapp to my coinbase. 20 days stuck, I'd pay nearly half of the transaction at this point to just have it be done with. it has zero confirmations any advice?
thx
Gracias Andreas, saludos desde Chile o7
Hey boss I have btc stuck in unconfirmation
Would child pays parent unnecessarily create “redundant” txs? Or more accurately, txs that have very narrow purpose of bumping fees only, would it be healthy for the blockchain as a whole.
Technically yes, they'd be redundant, but at least they don't render 0conf transactions useless like RBF. It's different trade-offs
Thanks for all your videos! I love your books.
I want to know what do you think about taking a crypto loan when I feel the bull run is ending to buy more btc during the bear market.
Does it makes sense? In case the bull run continues It's ok, if a bear market comes it's even better.
Seems like a win win scenario but just wondering if you see any flaw in that plan.
Thanks and keep up the good work educating the world!
Is 1 satoshi/byte still viable these days?
You said RBF TX are not less trustworth than other zeroconf. Completely ignoring that 99% of miners enforce first seen rule and have a long term incentive to keep doing so. (preserving the value of their equipment)
@aantonop I have BTC private stored on hand written paper wallet (no QR). I am very worried about making a mistake importing it online. Can you explain a safe way to get this to a ledger or another safe space?
@UCX2latmmEFENSE4xMbaimPw Why are people alowed to use the same profile name and logo as the person who posted the video. This is stupid youtube. Im not that stupid.
Getting it on a ledger is itself safe as long as you make sure your PC is secure during the transfer.
@@cryptodan8278 Thanks for reply. I have a ledger but don't know how to get it transferred safely. I don't see how to import or sweep private key onto my existing ledger.
@@alexleach4002 that's exactly the point of a ledger, not having access to the private key is part of the security feature. You don't import the wallet to the ledger, you import (send) the bitcoin to it. If you need help with that let me know
Very glad you're not falling for the imposters. They're everywhere and when we stop one, two more show up.
This is why everyone uses credit cards. The interest and transaction fees are nothing compared to trying to use bitcoin and you have protection on top of it all. Why do people buy bitcoin again? I keep forgetting...
Because it is DECENTRALIZED (not controlled by a company that can do whatever they wish if they disagree with your PURCHASES) AND because it CANNOT BE CONFISCATED. But go ahead and keep trusting that someone ELSE has YOUR best interest in mind.
And your spoken English has improved from 201X when I first saw you speak to an empty room
Car vertical 0.002$
Kin 0.0001$
To the Moon this Year
🚀🚀🚀🚀🚀🚀🚀🚀
I've never had a tx stuck with Bitcoin Cash
Yeah btc is trash
Lol
@@dutch-man i just burnt my private keys of shitcoin of Satoshi
There are Bitcoin accelerators
They aren't guaranteed to work. I've tried them many times
@@abc_12333 one of the transactions I made a while ago was stuck on the BC for about 5 days; those accelerators helped me tbvh
@@polyma8 They can definitely help at times. But no guarantee. I used it a few days ago and still had to wait 40 additional hours to get my BTC confirmed and I had to do it 4 times. From now on, I'll be trying RBF using Electrum Wallet.
BCH ❤️ BTC 🤮
Me being a cheap ass made me miss bitcoin years ago. 😭
What..lol
@@cryptosrus4140 should I report you? Your too high in the food chain to be talking to me 🤔