4

This is a problem that gets worse every time I do a BTC transaction with Electrum - I have a transaction being held hostage in unconfirmed status for for 3 days now, despite paying a fee a multiplier of .65% (the site suggested .50). I used Electrum several times a week for over a year and this never happened - now, the last 3 or 4 transactions have been beset with these kind of b.s. hangups.

Anyway, last time I dumped another transaction into the queue and it seemed to shake loose the one that was stuck. Thinking it would work again, today I exchanged $250 USD for (at least according to the receipt) $215 of BTC but after entering them into Electrum, it came out to $117. I called "support" at Cottonwood (vendor for the Satoshi ATM I use) and they had no idea why but could only suggest spending over $500 to get a better rate of exchange. (Right, hit me again, I'll stand real still.)

And despite the fact that Block chain has it marked confirmed, I can't send any more than .0009

This is getting to be a regular thing with Electrum - it used to take an hour from start to finish, now it takes a week and it seems to cost twice as much as before which was outrageous to begin with. I've uninstalled and reinstalled and refreshed and changed servers so many times in Electrum there aren't any more options available with no luck. Other than the fact that it's clearly time to switch wallets, is this disconnect happening on my end? Thanks.

4
  • What is a fee multiplier of "0.65%"? Are you paying a fee based on the amount of value you transfer? That's not how Bitcoin works. In Bitcoin you pay for the data that you write to the blockchain which is independent from the amount of money you transfer. Currently fees are about 120 satoshi/byte. For a standard transaction with one input and two outputs that is about 225 bytes that would currently amount to about 0.27 mBTC. If your transaction is bigger, your fee must be accordingly higher. – Murch Mar 5 '17 at 10:47
  • You know more about this than do (although the same could probably be said of my cat as well.) I had checked off the dynamic fee box, which I was under the impression took care of the fees required to make the transaction worth the miners trouble to ...do whatever it is they do.Then I read something that said you could 'boost' the fee attached in order to get the transaction pushed through more quickly. So, Electrum assigned .50% to the transaction and I boosted that by .15% which didn't seem to make any difference anyway. Obviously, I have lots to learn about this. Thanks for your input. – David Lohmeier Mar 6 '17 at 15:19
  • Sorry if this sounds stupid: Did you have dynamic fees on or off? I'd assume you'd have a better experience with it being on. To be able to 'boost' the fee of transactions you have to set Tools > Preferences > Fees > Enable Replace-by-Fee. I'm still confused by the percentage thing, but then I have never used Electrum myself, I guess that must be how they show it. – Murch Mar 6 '17 at 15:49
  • Did you get this resolved? – Highly Irregular Oct 31 '17 at 0:54