Hello,
New forum member and have a couple of questions regarding using CPFP on a transaction that's been stuck:
I purchased some BTC through Glidera which was sent to my BitPay app and has been unconfirmed for over 36 hours. The fee that Glidera used is .0003164 BTC, which is not enough for timely transactions based on the current volume. On my previous purchase with Glidera they used this same fee, which resulted in a 5 hour wait time for that transaction to confirm. I contacted support at that time and was told that they amended their fee due to the congestion/delays and that I should not expect these delays in the future. Clearly the fee was not changed, which is very frustrating as I made additional purchases based on this understanding.
I would like to attempt a CPFP and send some of the unconfirmed funds from my Bitpay wallet to another wallet by using a higher priority fee setting on BitPay, but I have the following questions if anyone is able to help:
1. With CPFP, do I need to spend ALL of the unconfirmed funds, or just make sure that SOME of the uncomforted funds are being used?
2. I understand that I need to make sure a high enough fee is being paid to cover both transactions, but do I also factor in the .0003164 BTC on the unconfirmed transaction as part of the total amount when considering how much more to send ? In other words, if I wanted to make sure the fee on each transaction was .0004164 BTC, would I send 2x this amount, or would I send .0004164 BTC for the child transaction plus an additional 0.0001 BTC for the parent transaction (since .0003164 is already included in the original transaction)?
I guess I am just trying to understand if a miner looks at this from the standpoint that it's 2 transactions and wants a fee high enough on each (i.e. 2x what it would be on a single transaction)? Or is it looked at as a single transaction, were I would want to include a higher fee than what I would normally pay one a single transaction, but not necessarily 2x what I would pay on a single transaction? Hope that makes sense.
For reference, the transaction I am referring is:
https://blockchain.info/tx/8f46d46df82a4200e86e485653d725eab567043bbb008688aff964ab26db6197Thanks in advance for any help with these questions.