If I have a #BTC transaction waiting to be confirmed at 7 sat/vB, what happens now? Do I have to wait until fee rate drops below 7 for my transaction to be confirmed? Can it wait in limbo forever? Still have a lot to learn here. And what does the βvβ in vB stand for? #grownostr #noob
Discussion
Wait
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Virtual
It should be dropped from most mempools soon since it's so low, in which case your wallet balance should return to normal. If your transaction fee were higher, it would bounce around the mempools for ~2 weeks before dissapearing. the 'v' stands for virtual. combining utxos when making a transaction is good for the overall network, but is larger in bytes than splitting a utxo. so this data is given a discount, where a byte of witness data only counts as 1/4 byte when paying fees. so they call this 'virtual bytes' to differentiate from actual transaction size.
It might confirm in about 24 hours, maybe longer. Worst case scenario: it gets dropped from the mempool and goes back to the wallet you sent it from.
You probably have to wait days. Mempools are purging anything less than 61 sats/vB. v=virtual