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Is it possible to increase transaction fee of a transaction that is already sent and seems stuck?
Is it possible to increase the transaction fee of a sent transaction not yet in a block?
Answers
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Today? No.
There was a feature that was developed referred to as child pays for parent however few miners if any are using this patch.
There have been instances where mining pool operators have been offered a bounty to include a specific transactions, but there is no automated process for that and presumably would require a significant incentive.
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No, you can't "edit" in a transaction, but you can doublespend the transaction (e.g. create a new transaction with a higher fee, but reuse the same output as the other transaction).
I'm not sure it's possible in Bitcoin-QT (without doing some ninja tricks), but you might be able to do it by using Armory to create a offline transaction (e.g. Armory don't know about the sent transaction if it only get the wallet and blockchain on a offline computer).
Won't such double spending have negative consequences? Did anybody tried it? – Łukasz Lew – 2013-03-06T23:16:20.817
This wont be a double spend, because it is impossible to double spend ;) Blockchain.info (or someone else) might log double spend attempts, but I can't really think of any 'punishment' by doing so :) – Nicolai – 2013-03-07T00:28:09.253
1Nodes that already know about the first transaction will not relay your double spend attempt, and the possibility of success depends on quirks such as a miner not knowing of the original transaction due to a restart and then takes the double spend attempt as it seemed to be legit. Suggesting a double spend as a workaround is not good advice. – Stephen Gornick – 2013-03-07T09:31:34.953