I transferred from my Bitsquare wallet to an outside wallet 3 weeks ago and is still unconfirmed. I confirmed the send without checking the default fee setting as it never caused an issue before.
The transaction is: 66c9583a23aa3eef56703ab3f019042d1a517267cd82a435b2f591a0f2b3884f
I am not in a hurry to have this confirmed but since it has been so long, will the bitcoin be returned to the original wallet after a period of time of no confirmation or will it eventually be confirmed?
BTC never left your wallet in the first place, as transaction of them never took place (wasn’t confirmed by the network). You should follow Manfred’s advice, but essentially the transaction will probably get confirmed one day, it just might take up to a year for that. Since fees will probably drop once the bitcoin network solves some issues.
I have read the link regarding CPFP and also googled for more details on the execution. This is my understanding of this process.
The original transaction (address A to address B) is the Parent transaction.
The recipient (address B) spends the (unconfirmed) bitcoins to create the Child transaction. The Child transaction pays a high enough fee to cover both Parent and Child to be included in the network fast.
If my understanding is correct, then address B needs to be able to adjust the fee. In my case, I send from Bitsquare to an offline paper wallet. As far as I am aware, I cannot set a fee of my choosing as there is only a public address and a private key on the paper.
So how do I go about this without creating the same unconfirmed transaction problem again due to possibly low fee by sending from address B (paper wallet) onward?
Again, I don’t mind waiting for a while if the solution is complicated. I think I can accept alexej996’s rough time frame of a year but Manfred’s “probably never to be confirmed” is not ideal.
I’d sweep (spend all funds) the paper wallet to a secure (mobile) wallet (Mycelium, Electrum, Ledger, breadwallet, Samourai) and after confirmations send to another paper wallet.
Your understanding of CPFP is correct.
Probably I was a bit extreme with “never to be confirmed” - even with 40 sat/bytes it should get confirmed if it does not get removed from the mem pool in between. If so you should be able to spend it again from the Bitsquare wallet without any extra effort. So if you dont care if it takes a few days/weeks you can just wait.
The paper wallet priv key would need to be imported (e.g. blockchain.info) and there you can spend it then with CPFP.
A big thank you to everyone for the advice!
This is a useful service to visualize the state of the bitcoin network. On weekends some coins begin to free but there is still a huge backlog: