Bitcoin Fees and Unconfirmed Transactions | Mempool Explained

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  • čas přidán 29. 08. 2024

Komentáře • 68

  • @RhettReisman
    @RhettReisman  Před 2 lety +3

    What's the longest you've waited for a Bitcoin transaction to be confirmed?

    • @JojitJohnson
      @JojitJohnson Před 2 lety

      A couple days

    • @RhettReisman
      @RhettReisman  Před 2 lety +1

      @Jonathan Basallaje daaaaaamn :/ couple of days might make me crazy haha

    • @OneLedger
      @OneLedger Před rokem +1

      8 days still waiting. RBF is not supported for my wallet. So I'm looking into CPFP to push it through. There absolutely needs to be a more convenient way to address this issue. I'm wondering how long a bitcoin transaction can stay unconfirmed for before it's purged and stops broadcasting from the node, so the funds hit back to you wallet. Any insight on this from anyone would be appreciated.

    • @yassenmashook
      @yassenmashook Před rokem +1

      ​@@OneLedger are you get your transection back ???

    • @RhettReisman
      @RhettReisman  Před rokem +1

      @OneLedger wondering if it’s possible to initialize the same wallet in software that supports RBF

  • @giallo_o
    @giallo_o Před 2 lety +1

    I admire your tenacity and dedication to building your YT channel. And thanks for the great info as usual

    • @RhettReisman
      @RhettReisman  Před 2 lety

      Thanks Gianluca 😁 no problem!

    • @AskDadWhy
      @AskDadWhy Před 2 lety

      Is the risk of a rigged mempool real?

    • @RhettReisman
      @RhettReisman  Před 2 lety

      IMO probably not but a lot of people will tell you not to trust anything and to verify instead 🤷🏻‍♂️

  • @richiebtcrich7846
    @richiebtcrich7846 Před 2 lety +2

    Good Info, I would love a video about a simple explanation how to RBF a transaction to increase the fee and how to possibly Cancel a transaction that has not cleared in the mempool

    • @RhettReisman
      @RhettReisman  Před 2 lety

      That’s a good idea. I’ve never used replace by fee would be interesting to learn about

  • @BreakNAllRecordsBARtv
    @BreakNAllRecordsBARtv Před 2 lety +1

    Great information, love the demo. Thanks Rhett Longest wait 3 hours.

  • @HarlandDWhite
    @HarlandDWhite Před 2 lety

    I recently ordered a MK4, with btc too. Looking at the mempool has calmed my nerves several times when thinking I messed something up lol.

    • @RhettReisman
      @RhettReisman  Před 2 lety +1

      Definitely haha I used to get so freaked out that the money was just gone - now I check the mempool and freak out a little less haha

  • @CarAudioInc
    @CarAudioInc Před 2 lety +1

    I made the mistake of setting the transaction fee too low once. I was like "I don't need it right away" 2 weeks later.. I was like oops lol better RBF! Dope vids as always!!

  • @TrajectoryOfWealth
    @TrajectoryOfWealth Před rokem +1

    Thanks for this. Good knowledge to take on regarding mempool. Happy New Year

  • @shaunconyers
    @shaunconyers Před 2 lety +2

    Hi Rhett! I just initiated a transaction from my Ledger nano s to my Binance address. I issued a BTC Segwit transaction. Is it possible that this can take a few hours, maybe a day? Thank you!!!

    • @RhettReisman
      @RhettReisman  Před 2 lety

      Yeah it could take a long time depending on how full the mempool was and what your fees were. You should be able to follow these steps on mempool.space to see how long it will take your transaction to clear

    • @yassenmashook
      @yassenmashook Před rokem

      @@RhettReisman are you get your transection back ???

  • @Narizoke
    @Narizoke Před rokem

    Great Content! is there any chance to speed up the transaction if it is already in the mempool?

    • @RhettReisman
      @RhettReisman  Před rokem +1

      There’s a concept called replace by fee (rbf) where you can increase your fee and get your transaction included faster. However, the issue is, that feature is not available in every wallet.
      Learn more here: buybitcoinworldwide.com/rbf/

  • @juangabrieldelcid3668
    @juangabrieldelcid3668 Před 2 lety +1

    Dude... 1 sat/vb is... LOW... did Strike calculate it? If you set it, I can understand... but "better" apps will query the mempool and suggest a higher rate. To answer your question, I once waited for about a day one time.

    • @RhettReisman
      @RhettReisman  Před 2 lety +1

      Yeah very low haha. You can see when I bought the mempool blocks were clearing at like 10+ sat/vb lol - yeah they definitely need to get a feature built to help you set fee based on the current mempool

    • @yassenmashook
      @yassenmashook Před rokem

      are you get your transection back ???

    • @RhettReisman
      @RhettReisman  Před rokem

      Yeah my transaction went through it took about a day. Now with ordinals fees might be structurally higher for a while. Mempool might not clear like that again for days/weeks

    • @yassenmashook
      @yassenmashook Před rokem

      @@RhettReisman how maxmum time memo pool can take to clear???

  • @krispykeyog
    @krispykeyog Před 8 měsíci +1

    It’s been over a week for me , how do I get my transaction confirmed ?

    • @RhettReisman
      @RhettReisman  Před 8 měsíci

      Around 15 days you should be able to resend the transaction with a new fee. Alternatively you can use the steps in this video (load your hot wallet seed into sparrow / connect your hardware wallet to sparrow) and then do Child Pays for Parent czcams.com/video/Q62NoR2qhiw/video.html&pp=ygUbcmhldHQgY2hpbGQgcGF5cyBmb3IgcGFyZW50
      Or if the wallet you're using has Replace by Fee (RBF) or Fee Bump you can add a new fee to send faster

    • @krispykeyog
      @krispykeyog Před 8 měsíci

      @@RhettReismanI reversed a deposit bc I tried to deposit bitcoin on cash app and it was rejected

    • @RhettReisman
      @RhettReisman  Před 7 měsíci

      I might not be understanding correctly - you deposited BTC to your cash app from a mobile wallet but then you cancelled it and the funds aren’t back in your mobile wallet? How did you cancel it?

  • @PhibyLartey
    @PhibyLartey Před měsícem

    hi i sent btc from blockchain to another blockchain and its been 24hours and over,how i do fasten the speed or make it faster please

    • @RhettReisman
      @RhettReisman  Před měsícem

      Hey sorry what do you mean you sent it to another blockchain? Like you sent it to Ethereum's blockchain?

  • @Tryspazzway
    @Tryspazzway Před 2 měsíci

    How do I increase my fee to get confirmation faster? I’ve been waiting 24+ hours the btc was sent from cash app to block chain

    • @RhettReisman
      @RhettReisman  Před 2 měsíci

      Cash app wallet won’t allow you as far as I know unfortunately. Good reason to use a different wallet. If you’re sending it to a separate wallet you control you can do child pays for parent. czcams.com/video/Q62NoR2qhiw/video.htmlsi=JaE2p7jkyUWWDjc3

  • @user-dn6ph7hc9n
    @user-dn6ph7hc9n Před 6 měsíci

    I see my transactions but I have send it to the wrong address. Is there a way I can get back my founds or its lost forever

    • @RhettReisman
      @RhettReisman  Před 6 měsíci

      Unfortunately, you can't get it back it's in that new address with whoever controls that address

  • @GaffyAdams
    @GaffyAdams Před 3 měsíci

    Can you help me out my transaction is still unconfirmed

    • @RhettReisman
      @RhettReisman  Před 2 měsíci

      What kind of wallet did you send from? Do you have the ability to resend yet?

  • @ochijude5436
    @ochijude5436 Před 5 měsíci

    Please btc was sent to me yesterday from trust wallet to my trust wallet.from my transaction history it shows that btc was sent to me but my balance is still 0.00 what can i do please 🙏 it's over a day now

    • @RhettReisman
      @RhettReisman  Před 5 měsíci

      Do you have the transaction id? Check mempool.space

    • @ochijude5436
      @ochijude5436 Před 5 měsíci +1

      Do you mean my btc address or the senders address

    • @ochijude5436
      @ochijude5436 Před 5 měsíci

      Thanks 👍 for your response
      What is the transaction ID please 🙏

    • @RhettReisman
      @RhettReisman  Před 5 měsíci

      Yeah the transaction id. You can probably put in your address to mempool.space and find the transaction id. But once you find the transaction id you can see how long it estimates it will take for you to get confirmed

    • @ochijude5436
      @ochijude5436 Před 5 měsíci

      Bro can i send you my address so you can help me check please 🙏🙏

  • @ArmstrongGwassaTambe
    @ArmstrongGwassaTambe Před 6 měsíci

    Hello sir Good day