Can anyone explain what replace-by-fee means?
It's a method that allows replacing an already transmitted transaction by transmitting another transaction with a higher fee. This only works on transactions before they are signed by miners (0-confirmations).
After 6 years, Now I want to tell you what is Replace by Fee :)
This feature was proposed in BIP125 and implemented in Bitcoin Core 0.12.0.
In simple words, by enabling (Replace By Fee) RBF in a transaction, if a transaction doesn't get mined, it can be resent by the sender with a higher mining fee with keeping the input data of the UTXO(Unspent Transaction Output) same as before.
Good Day. Please i have an Account with BlockChain but i notice my account has a withdrawal of all my BTC which was not done by me. It has Replace-By-Fee
What might have happened?
Sent BTC May 21 2020 @ 2:22 AM Replace-By-Fee To: bc1q52vem2cnzps34reymhw0v07wgzme8gq92dzc5p From: My Bitcoin Wallet $3,461.91 0.38223108 BTC Description Add a description Value When Sent $3,645.37 Sent From 159qFcZvv46Vz861PFxUNLPzjpTZw2oiPj 17BoVBrrkZ13DWNEBdew8QL3CCq6mv3722 1PnBQwZhiMMtb2XptpTBzBFa658iWm4gzd 1ahi6h2WMaGCpbrs2d7cr2o9Fo1m2Mu4J 1LcXKTF7TwNBw9jH4pTMHJRTMWGxo55syD 1CkJkCBVJt11Cj41SY9SQ7hu8318tcc19s Received By bc1q52vem2cnzps34reymhw0v07wgzme8gq92dzc5p Status Transaction Confirmed Transaction Fee 0.00113524 BTC ( $10.28