My BRD wallet just charged a 27 dollar miners fee TO SEND 50 dollars worth of bitcoin!! 1/3 of 75 bucks went to a miners fee? 55e7f51a96ecd8d25a1566346bff76e2985a5aed4fe279e44d75f991cf0a993a

  • Can someone cancel this before it gets confirmed? – Erica Dawn Nov 1 '20 at 2:48

Your wallet seems to have wildly inaccurate fee estimation.

Currently, for next block mining, you should be paying around 1/8th of that fee - 1/10th or less for next 2-4 blocks.

Unfortunately, that transaction cannot really be cancelled - you could attempt to double spend it, but the fee is so high that you'd end up spending even more to potentially get a double spend mined, which defeats the purpose.

  • That's pretty much what thought. Why would myBRD wallet suddenly change miners fees like that? – Erica Dawn Nov 1 '20 at 3:00
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    Whatever system they use to estimate a good fee rate is probably broken in some way, or not accurate when there are sudden changes in the mempool. Your best bet would be to reach out and ask them directly – Raghav Sood Nov 1 '20 at 3:20
  • I recommend you using mempool.observer to see the mining fees on the next blocks. It gives you an idea about how much does it cost to mine a tx. But be aware that the current cost is something dynamic, and a lot of txs can arrive suddenly paying more fees than the one you have sent, sending you back in the queue. – jramos Nov 3 '20 at 16:12

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