Wrong fee on transaction

1

I have sent a (>10000 byte) transaction to mtgox, blockinfo reports that the network fee is lower than recommended, so it will take quite a long while to get confirmed.

I was thinking I can send another transaction with more attractive fees - but that represents two difficulties:

  1. I don't know why the client didn't calculate the correct fee
  2. mtgox uses a single address per transaction, and so I won't get a new one until the current one completes. If I send another transaction to the current address, when the slow one finally gets there, it will go to the wrong address.

I am not sure what is the best way forward. I am using bitcoind v80500.

Is there a way I can get a transaction into mtgox without breaking the one I have currently waiting for confirmation, and if so, how can I get the fees to be right?

Paul

Posted 2013-11-09T13:14:24.303

Reputation: 266

Answers

1

There is no correct fee for sending BTC to mtgox, and you can send to the same address. MtGox doesn't get the fee. MtGox only requires a number of confirmations. If you added a fee at all then there should be no extraordinary delay. A fee-related delay is for the first confirmation. The age of your source account(s) can make more difference than a fee. Just relax. The first time is painful to wait for.

I've updated...

I don't know how you can send a ">10000 byte" transaction to mtgox unless you are talking about the bytes of a raw transaction rather than a bitcoin amount. In that case, you should be able to figure this out. Send the same amount again from same addresses but with a higher fee. It is a double-spend and the network may take the second first while leaving the first to be discovered invalid.

user7636

Posted 2013-11-09T13:14:24.303

Reputation: 259

I am referring to network fees, so I have updated the question. The fee added to the transaction is small enough that it is very low priority and will take days to confirm. What do you mean by "you can send to the same address?" – Paul – 2013-11-09T21:10:47.170

Sending the same amount from the same address is not a double-spend, you have to actually spend the same bitcoins. It is just another transaction otherwise. Yes I am talking about a large byte size transaction, which naturally needs a higher fee to process. – Paul – 2013-11-10T04:51:18.763

Asked: 2013-11-09T13:14:24.303

Viewed: 227 times

Active: 2014-03-10T00:02:39.153