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I marked my transaction with "Request replace-By-Fee"* in my bitcoin core wallet, and now while I can increase the transaction fee, I can only increase it by a tiny bit, and I can't set it to what I really need. (forcing me to increase the fees 15 times in a row)
Is there any simple way for me to increase the fee more significantly without creating all of these intermediate transactions?
* By the way, a very bad name for "allow future fees increase"
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The bumpfee RPC command takes a "totalFee" argument. When passed, this is the total fee that will be used for the replacing transaction.
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Increasing in steps is very weird, and should not be done. You may have a look at this canonical answer, under the section "How to make a Full RBF transaction / Bitcoin Core".
For me, to get rid of the unconfirmed transaction, I needed to remove the mempool.dat file, the other approaches did not work. Then followed the advice given:
Once the transaction is either Abandoned or cleared from the wallet, you can simply go to the Send tab and send the Bitcoin again but make sure that you include a sufficient transaction fee.
I finally succeeded in having a confirmed transaction after one single replacement with an appropriate fee.
Yes, thanks. That's what I did and it worked well. Not sure why the wallet is implemented the way it is, though. (And I would expect this action to be doable without restarting the program, deleting files etc.) – yuvalm2 – 2017-12-21T09:10:12.880
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Instead, what I did was to run the wallet again and make it forget unconfirmed transactions using:
C:\Program Files (x86)\Bitcoin\bitcoin-qt.exe --zapwallettxes=1
And removed my local copy of the mempool. (A file called mempool.dat in bitcoin's data folder)
(Took about an hour to rescan)
And then making another transaction to the same destination with higher fees (Made from the same source node, so only one of these transactions could occur, nullifying the other)
Depending on what version of Bitcoin Core you are running. In v0.15.1 the minimum fee bump is significant. – Willtech – 2018-02-27T08:24:32.397
fee bumping is a very weird way to change the fees. I should be able to set it to whatever I believe is the correct value now. There is no reason it would always go up in a certain quantum. – yuvalm2 – 2018-02-28T15:27:47.290
There is a minimum increase specified (by consensus I believe) to prevent a fee mini-bump attack, too expensive now that the minimum bump is set higher. – Willtech – 2018-03-01T08:00:57.613