pull down to refresh
121 sats \ 6 replies \ @02a9a61fdc 8 Apr \ on: "NO REFUNDS" - TRANSACT WITH CAUTION bitcoin_beginners
Replace by fee (RBF) can be done by the sender. The initial transaction is replaced by the same transaction with a higher fee, therefore incentivizing the miner to process it.
Child pays for parent (CPFP) can be done by the recipient. He spends the coin when it is still in mempool, but with a high fee. If a miner wants to earn the high fee he has to process both transactions, the parent with a low fee and the child with the high fee.
I think we should mention also the 3rd option: pay the fee separately to the miner willing to include that low fee tx into a block, untouched.
https://mempool.space/ have a nice service for this. You need to create an account first and then on the same tx you can click on "accelerate" and pay the fee over LN directly to the miner.
reply
Is it a nice service, or does it hinder accurate fee estimation for peer-peer users when a significant portion of fees are paid out-of-band? Is this peer-peer usage of the network? What affect does it have on miner decentralization?
reply
Hm, ok I've never heard of this method, but intriguing.
reply
How so?
Fees accelerators were around for many years not just now.
- https://www.viabtc.com/tools/txaccelerator/ - pay onchain and with shitcoins and expensive
- https://bitaccelerate.com/ - pay only with tether I think
- https://mempool.space/accelerator - pay over LN to push your stuck tx
reply
Never needed it I guess.
reply
Yes, is better to avoid these "bump fees" methods. If you are not familiar you could do mistakes (like the guy in the twatter post or even worse, fucked up a closing channel.
As I explained in this advanced use case scenario using Zeus in a closing channel. I did it on purpose just to be able to document the guide for others. I hope people will read it and avoid doing this kind of mistake.
reply