Bitcoin core outgoing transactions

0

On The bitcoin core wallet you don't have to wait for it to sync to after your outgoing transaction in order for the transaction sent from the wallet to be confirmed and arrive at the addressee, does it? It's all about paying an appropriate transaction fee, right?

I only ask because on 2 attempts now after consulting bitcoinfees21 I have tried to establish a transaction fee that will be enough to be sent before the transaction bounces back and still no avail, separate question but it's a three day window until the transaction bounces back if still not confirmed, right?

Any help would really be appreciated. Thanks ...

James Hughes

Posted 2017-07-15T21:09:19.680

Reputation: 31

Answers

1

First of all, transactions do not "bounce". Once a transaction is broadcast, it can confirm or remain unconfirmed indefinitely. There is no point where your transaction "expires" or the transaction "bounces" and the coins return to you; anyone who has a copy of the transaction can, at any point in time, rebroadcast the transaction and remind the network that the transaction still exists and can still be confirmed.

In order to send Bitcoin, you must be fully synced. If you are not fully synced, you risk spending coins that have already been spent and thus creating an invalid transaction. Furthermore, your wallet cannot know how much Bitcoin you actually have without being fully synced. While you can spend while unsynced, there is no guarantee that the transaction you are creating will actually be valid.

Andrew Chow

Posted 2017-07-15T21:09:19.680

Reputation: 40 910

"In order to send Bitcoin, you must be fully synced." Meh. That isn't true; " If you are not fully synced, you risk spending coins that have already been spent and thus creating an invalid transaction" only if you've been using multiple wallets with the same keys-- which nothing supports and has that risk regardless of how synced you are. – G. Maxwell – 2017-07-16T19:41:01.783

Asked: 2017-07-15T21:09:19.680

Viewed: 224 times

Active: 2017-07-16T08:14:33.100