CPFP- Child Pays For Parents | Explained

[Shaza Ahmad 1682]

This is very important information, but if you have an explanation for this method with a video on YouTube or any social media site, please share it with us to benefit from it, we may go through this experience.

Edited February 20, 2020 by Shaza Ahmad
writing mistakes

[lovepuppies2612 12]

On 1/28/2020 at 2:33 PM, Slimzee said:

it's doesn't labor like that,People may drive transaction with let down fee or they may act it involuntarily without meaningful the flow fee. In that case, the transaction may find at a complete loss in the blockchain. If you the transaction earlier, you know how to expenditure the CPFP practice to salary the fee.
 

I encountered that transaction before, where for me to receive my transaction quickly I need to adjust my fee to make it fast to receive the coins I like to transfer to the wallet destination I put in the platform.

[MysteriousIdentity 150]

On 10/29/2019 at 3:01 AM, xBDT Script said:

This is a great method to have confirmed an unconfirmed transaction you are waiting to be confirmed. CPFP provides benefit to the receivers. Let me share with explanation what CPFP is and how does it work.

Imagine, you have received a payment of X amount of BTC. But because the sender has given a very low fee, it will take time to get confirmed and in some cases it can stuck for hours or days.

You as a receiver can get the transaction faster. Here's how?
When you receive a transaction, it's get added to your balance as unconfirmed transaction. You have to create a transaction including that amount with higher fee. When you will send the transaction (You can send yourself or others), because of higher fee, miners will include the transaction into new block and confirm the transaction, but for doing that, they will by default include the previous transaction which you have received earlier, Both the transaction will be included in the same block.

What a bright ideas but if you don't want to stuck your transaction it will be best if you will just use a good amount of transaction fees so you don't have to worry in this kind of problem. 

 

I also experience this problem but what I did is that I only use a free service that accelerates the transaction that were stuck like bitcoin accelerator and other services that are free or charge. 

[Ssking93 51]

Definition. Selecting transactions for mining not just based on their fees but also based on the fees of their ancestors (parents) and ...

[bentayebsalah 2280]

The matter depends on the amount of transactions at that time and pressure on the network. If it is large, your currencies will take some time to confirm them. If you pay a higher fee, you will take priority in sending.

[tienda 8776]

Thank you for sharing this information, it seems useful and helpful for many member here, but I think you need to introduce a such website of source to read more about this CPFP, because this is new for me and I think for many members here.

[kadayakito 765]

On 29/10/2019 at 02:01, xBDT Script said:

Đây là một phương pháp tuyệt vời để xác nhận một giao dịch chưa được xác nhận mà bạn đang chờ để được xác nhận. CPFP cung cấp lợi ích cho người nhận. Hãy để tôi chia sẻ với lời giải thích CPFP là gì và nó hoạt động như thế nào.

I have heard CPFP a few times. It is considered to be particularly useful for checking confirmation status as well as avoiding jamming. Because the long confirmation always makes people worried. I often encounter long confirmation status. I researched CPFP a lot and I will definitely use it.

[magd 5231]

This is so complicated that I have not read about this method before. I am not interested in fees versus fast transactions because I prefer quick transactions even if the fees are more than slow transactions and there are no problems for my country that make me compel to use a third party

[Calvinpriva 17296]

I never know about this method, but am lucky because my transaction never stuck. I always use wallets that i will pay extra fee so that i can receive my btc in time. Eg, faucetpay wallet will cost you a fee of 400 satoshi when you withdraw your fund and it take 4 hours for the transaction to be completed. But you can pay a fee of 7000 satoshi and they will send your amount in only 5 minutes! 

[Thekingcallme 1975]

I have never tried this idea before and I do not know if this will work because it tells me that I do not have enough money to send it because of the failure to confirm the transaction that I can confirm

Is there solutions ?

[Brushless4500KV 4214]

It is a little vague how CPFP works. You said you have to make another transaction but choose a high fee. Does it mean that you have to send some coins to confirm your previously unconfirmed transaction? Is this economical and cost effective? Who will pay the second fee which is higher? I don't understand the last part. How do the miners recognize two transactions of the same amount but with different fees? This part needs more explanation. If all senders have a look at bitcoin network traffic, they can choose the best fee for their transactions.

[Yomose 3704]

On 2/21/2020 at 8:32 AM, lovepuppies2612 said:

I encountered that transaction before, where for me to receive my transaction quickly I need to adjust my fee to make it fast to receive the coins I like to transfer to the wallet destination I put in the platform.

There are differences between replace by fee and child pay for parent. In RPF, you will be able to pump the transactions fee that will increase the chance of the transaction to be placed in the next block. But, unlike cpfp, you will need to make a transaction with the same UTXO of the parent in which the parent transaction will be confirmed with the child transaction at the same time. But, because the child transactions have higher fee, it makes the transactions fast to confirm.