flywithu/Learning-Bitcoin-from-the-Command-Line
1
1
Fork 0
mirror of https://github.com/ChristopherA/Learning-Bitcoin-from-the-Command-Line.git synced 2025-06-07 16:06:26 +00:00
Code Issues Releases Wiki Activity

Update 05_2_Resending_a_Transaction_with_RBF.md

Browse Source
This commit is contained in:
Shannon Appelcline 2020-01-22 14:24:54 -10:00 committed by GitHub
parent 3c5cb3e45b
commit 104a16453f
No known key found for this signature in database
GPG Key ID: 4AEE18F83AFDEB23
1 changed files with 6 additions and 6 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

12
05_2_Resending_a_Transaction_with_RBF.md
View File

@ -1,10 +1,10 @@
# 5.2: Resending a Transaction with RBF # 5.2: Resending a Transaction with RBF
> **NOTE:** This is a draft in progress, so that I can get some feedback from early reviewers. It is not yet ready for learning. > :information_source: **NOTE:** This is a draft in progress, so that I can get some feedback from early reviewers. It is not yet ready for learning.
If your Bitcoin transaction is stuck, and you're sender, you can resend it using RBF (replace-by-fee). However, that's not all that RBF can do: it's generally a powerful and multipurpose feature that allows Bitcoin senders to recreate transactions for a variety of reasons. If your Bitcoin transaction is stuck, and you're sender, you can resend it using RBF (replace-by-fee). However, that's not all that RBF can do: it's generally a powerful and multipurpose feature that allows Bitcoin senders to recreate transactions for a variety of reasons.
> **VERSION WARNING:** This is an innovation from Bitcoin Core v 0.12.0, which means that by now most miners should be using it. However, it only reached full maturity in the Bitcoin core wallet with Bitcoin Core v 0.14.0. > :warning: **VERSION WARNING:** This is an innovation from Bitcoin Core v 0.12.0,that reached full maturity in the Bitcoin core wallet with Bitcoin Core v 0.14.0. Obviously, most people should be using it by now.
## Opt-In for RBF ## Opt-In for RBF
@ -52,7 +52,7 @@ The `bip125-replaceable` flag will stay `yes` until the transaction receives con
_Should I trust transactions with no confirmations?_ No, never. This was true before RBF and it was true after RBF. Transactions must receive confirmations before they are trustworthy. This is especially true if a transaction is marked as `bip125-replaceable`, because then it can be ... replaced. _Should I trust transactions with no confirmations?_ No, never. This was true before RBF and it was true after RBF. Transactions must receive confirmations before they are trustworthy. This is especially true if a transaction is marked as `bip125-replaceable`, because then it can be ... replaced.
> **SEQUENCE NOTE (I):** This is the first use of the `nSequence` value in Bitcoin. You can set it between 1 and 0xffffffff-2 (4294967293) and enable RBF, but if you're not careful you can run up against the parallel use of `nSequence` for relative timelocks. We suggest always setting it to "1", which is what Bitcoin Core does, but the other option is to set it to a value between 0xf0000000 (4026531840) and 0xffffffff-2 (4294967293). Setting it to "1" effectively makes relative timelocks irrelevent and setting it to 0xf0000000 or higher deactivates them. This is all explained further in [§9.3: Using CSV in Scripts](09_3_Using_CSV_in_Scripts.md). For now, just choose one of the non-conflicting values for `nSequence`. > :information_source: **NOTE — SEQUENCE:** This is the first use of the `nSequence` value in Bitcoin. You can set it between 1 and 0xffffffff-2 (4294967293) and enable RBF, but if you're not careful you can run up against the parallel use of `nSequence` for relative timelocks. We suggest always setting it to "1", which is what Bitcoin Core does, but the other option is to set it to a value between 0xf0000000 (4026531840) and 0xffffffff-2 (4294967293). Setting it to "1" effectively makes relative timelocks irrelevent and setting it to 0xf0000000 or higher deactivates them. This is all explained further in [§9.3: Using CSV in Scripts](09_3_Using_CSV_in_Scripts.md). For now, just choose one of the non-conflicting values for `nSequence`.
### Optional: Always Opt-In for RBF ### Optional: Always Opt-In for RBF
@ -108,7 +108,7 @@ Note the following example generated by `bitcoind`, where the UTXO indeed uses a
] ]
} }
``` ```
> **VERSION WARNING:** The walletrbf flag require Bitcoin Core v.0.14.0. > :warning: **VERSION WARNING:** The walletrbf flag require Bitcoin Core v.0.14.0.
## Understand How RBF Works ## Understand How RBF Works
@ -131,7 +131,7 @@ Faced with this conflict, the miners will know to use the one with the higher fe
_What is a double-spend?_ A double-spend occurs when someone sends the same electronic funds to two different people (or, to the same person twice, in two different transactions). This is a central problem for any e-cash system. It's solved in Bitcoin by the immutable ledger: once a transaction is sufficiently confirmed, no miners will verify transactions that reuse the same UTXO. However, it's possible to double-spend _before_ a transaction has been confirmed — which is why you always want one or more confirmations before you finalize a transaction. In the case of RBF, you purposefully double-spend because an initial transaction has stalled, and the miners accept your double-spend if you meet the specific criteria laid out by BIP 125. _What is a double-spend?_ A double-spend occurs when someone sends the same electronic funds to two different people (or, to the same person twice, in two different transactions). This is a central problem for any e-cash system. It's solved in Bitcoin by the immutable ledger: once a transaction is sufficiently confirmed, no miners will verify transactions that reuse the same UTXO. However, it's possible to double-spend _before_ a transaction has been confirmed — which is why you always want one or more confirmations before you finalize a transaction. In the case of RBF, you purposefully double-spend because an initial transaction has stalled, and the miners accept your double-spend if you meet the specific criteria laid out by BIP 125.
> **WARNING:** Some early discussions of this policy suggested that the `nSequence` number also be increased. This in fact was the intended use of `nSequence` in its original form. This is _not_ a part of the published policy in BIP 125. In fact, increasing your sequence number can accidentally lock your transaction with a relative timelock, unless you use sequence numbers in the range of 0xf0000000 (4026531840) to 0xffffffff-2 (4294967293). > :warning: **WARNING:** Some early discussions of this policy suggested that the `nSequence` number also be increased. This in fact was the intended use of `nSequence` in its original form. This is _not_ a part of the published policy in BIP 125. In fact, increasing your sequence number can accidentally lock your transaction with a relative timelock, unless you use sequence numbers in the range of 0xf0000000 (4026531840) to 0xffffffff-2 (4294967293).
## Replace a Transaction the Hard Way: By Hand ## Replace a Transaction the Hard Way: By Hand
@ -257,7 +257,7 @@ $ bitcoin-cli -named gettransaction txid=75208c5c8cbd83081a0085cd050fc7a4064d87c
} }
``` ```
> **VERSION WARNING:** The `bumpfee` RPC require Bitcoin Core v.0.14.0. > :warning: **VERSION WARNING:** The `bumpfee` RPC require Bitcoin Core v.0.14.0.
## Summary: Resending a Transaction with RBF ## Summary: Resending a Transaction with RBF