Would replace by fee increase the fee on my transaction?

Question

I have a transaction with a $0.01 fee that has been unconfirmed for almost a day now, I got searching and found the replace-by-fee tools by Peter Todd.

I set up a full node with Bitcoin 0.12.0 and it's downloading the blocks right now.

Would the tools work to increase the fee? Is it safe?

The transaction is a deposit into some website, would I still get the deposit?

For your last question, only the website people can answer that. It depends on whether their software is written to support RBF. — Nate Eldredge, Feb 17 '17 at 19:26
@NateEldredge Aha, another question (excuse my newbiness), is an RBF transaction sent with the same transaction ID? — user6613235, Feb 17 '17 at 19:34
No, the txid is a hash of the transaction itself. Any change to the transaction (including a change in the fee) results in a changed txid. — Nate Eldredge, Feb 17 '17 at 20:14
Possible duplicate of Why is my transaction not getting confirmed and what can I do about it? — Murch, Jul 18 '17 at 01:07

score 2 · Answer 1 · edited Oct 17 '17 at 02:36

You can only increase the fee with BIP125 (opt in replace by fee) if your original transaction did already signal that it can be replaced.

If you made your transaction with Bitcoin Core 0.12, your transaction doesn't signal replicability.

Since Bitcoin Core 0.14 there is a global option called -walletrbf that makes sure, all your transactions do signal replaceability.

What you can do in your case is...

CPFP (child-pays-for-parent).
You can try to create a follow-up transaction with your change output of your original transaction that hasn't confirmed. The follow-up transaction should have a high fee. If a miner wants to mine your follow-up transaction with high fees, he must also pick your original transaction (an unconfirmed transaction chain).
If it doesn't confirm, try abandoning the transaction (since Core 0.13) and re-spend your input
Try to use -zapwallettxns (google)

I sent it with Blockchain.info, am I still able to do RBF or CPFP? — user6613235, Feb 17 '17 at 21:31

Would replace by fee increase the fee on my transaction?

1 Answers1

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