173000 unconfirmed transactions, 13 transactions per second

Matias

full member

Activity: 182

Merit: 101

Quote from: Matias on November 30, 2017, 02:47:53 AM

How can number of daily transactions grow, when blocks have been full for at least two weeks in a row?

https://btc.com/stats/block-size

https://blockchain.info/charts

Block size has not grown as much as daily transactions. How is there room for a transaction growth? There is of course demand, but how is there room?

Both blockchain info and btc.com show that there were 400 000 transactions during last 24 hrs.

Maybe the explanation is simultaneous growth in block size and number of blocks/hour? Of course the latter will be fixed with difficulty adjustment.

https://fork.lol/blocks/time

slaman29

legendary

Activity: 2674

Merit: 1226

Livecasino, 20% cashback, no fuss payouts.

Quote from: Matias on November 29, 2017, 01:44:33 AM

Average block size grows slowly

https://blockchain.info/charts/avg-block-size

I wish big service providers would implement Segwit..

It is coming, just be patient. Even only a few wallets are already segwit ready, so sites are probably working with wallet services to integrate the new improvements. Just because technology is available doesn't mean instant implementation. Everyone is new at this but slowly they will get there. Even the segwit transactions on the network are taking time to grow, but it is definitely growing.

But yes, can't wait for the sites I'm using to start segwit already so I can move over. Really looking forward to less fees and what not.

Matias

full member

Activity: 182

Merit: 101

How can number of daily transactions grow, when blocks have been full for at least two weeks in a row?

https://btc.com/stats/block-size

https://blockchain.info/charts

Block size has not grown as much as daily transactions. How is there room for a transaction growth? There is of course demand, but how is there room?

Both blockchain info and btc.com show that there were 400 000 transactions during last 24 hrs.

Matias

full member

Activity: 182

Merit: 101

Average block size grows slowly

https://blockchain.info/charts/avg-block-size

I wish big service providers would implement Segwit..

Matias

full member

Activity: 182

Merit: 101

It seems, that btc demand is so high, that the current blockchain size can't clear the backlog. Hopefully Segwit takes off soon.

https://jochen-hoenicke.de/queue/#2w

Matias

full member

Activity: 182

Merit: 101

Quote from: PVminer on November 24, 2017, 05:50:29 AM

Quote from: Matias on November 24, 2017, 02:18:23 AM

Mining difficulty will drop more than 25% in less than 24 hrs.

https://bitcoinwisdom.com/bitcoin/difficulty

The current backlog will be cleared fast after that.

It's incredible that this horribly broken site is still believed. The difficulty is going to drop 1-2% only. See, https://fork.lol/pow/retarget, or https://btc.com/stats/diff, or https://cryptothis.com/diff/.

Thank you for this info.

PVminer

jr. member

Activity: 43

Merit: 1

Quote from: Matias on November 24, 2017, 02:18:23 AM

Mining difficulty will drop more than 25% in less than 24 hrs.

https://bitcoinwisdom.com/bitcoin/difficulty

The current backlog will be cleared fast after that.

It's incredible that this horribly broken site is still believed. The difficulty is going to drop 1-2% only. See, https://fork.lol/pow/retarget, or https://btc.com/stats/diff, or https://cryptothis.com/diff/.

pat_13b

newbie

Activity: 24

Merit: 0

Quote from: thejaytiesto on November 12, 2017, 11:03:43 AM

They are already, look at the Bitcoin Cash pump. But just like spamming the Bitcoin network is a futile and short lived strategy, the pump money on BCash is also short lived and futile. Sooner or later Roger Ver and whoever else is orchestrating this attack will run out of money and things will go back to normal, because there is no fucking way that out of nowhere all this transaction growth is organic and not part of an altcoin pump and dump scheme.

I think you're wrong. I know people that are noobies to crypto who are buying bcash because they think bitcoin is too expensive. It's easy to imagine that this is the case all over the world.

Matias

full member

Activity: 182

Merit: 101

Mining difficulty will drop more than 25% in less than 24 hrs.

https://bitcoinwisdom.com/bitcoin/difficulty

The current backlog will be cleared fast after that.

Matias

full member

Activity: 182

Merit: 101

Quote from: Maveth13 on November 22, 2017, 10:46:27 PM

Ideally bitcoin should be able to process approximately 60+ transactions per second, but because of miners switching to BCH for bigger profit transactions gets slower. This would mean that bitcoin still needs a lot of work until it's ready for mass adoption.

Isn’t maximum about 7 transactions/second at the moment? Are you referring to full theoretical Segwit rate? Only about 10% of transactions are Segwit at the moment.

http://segwit.party/charts/

Average there have been 6.6 blocks/hour for last 7 days, so it is not a problem at the moment

https://fork.lol/blocks/time

Maveth13

full member

Activity: 336

Merit: 112

Ideally bitcoin should be able to process approximately 60+ transactions per second, but because of miners switching to BCH for bigger profit transactions gets slower. This would mean that bitcoin still needs a lot of work until it's ready for mass adoption.

Kadalijo

newbie

Activity: 5

Merit: 0

i dont know. and i think as time go on, transaction will increase slowly. cause many people, new member join this cryptocurrent everyday

blocklife

copper member

Activity: 81

Merit: 0

Look around you , nothing is secure

Quote from: Cochey on November 20, 2017, 06:02:50 AM

Now it seems that it stabilized, the transaction quickly passed.

Yes right now at 28/s

and the tPool has also dropped massively!

Parodium

sr. member

Activity: 1036

Merit: 332

DMs have been disabled. I am busy.

Quote from: Matias on November 12, 2017, 10:28:30 AM

https://blockchain.info/unconfirmed-transactions

With absolute maximum on 7 transactions per second and in practice less than 4, and new transmissions coming in 13/second, how can this backlog ever be processed?

The backlog is never processed, but the transactions stuck in the backlog are refreshed, hence transactions raised earlier, or with higher fee escape the backlog whilst new transactions replace them.

jesgatt

newbie

Activity: 6

Merit: 0

I think the algo of BTC is better than that of BCH due to the fact that difficulty is constant (for a longer period of time), thus if there is a congestion in the pool, fees go up, more miners are attracted and transactions are processed faster. On the other hand for BCH the difficulty adjusts so the rewards are kept almost constant, so I think miners tend to avoid typical situations.

Cochey

newbie

Activity: 2

Merit: 0

Now it seems that it stabilized, the transaction quickly passed.

surix

sr. member

Activity: 274

Merit: 250

Today I have sent something with 40 satoshi per byte and it get confirmed in less than one hour.

So I hope it will be like this for a bit longer.

Seam

newbie

Activity: 1

Merit: 0

This really isn't sustainable. BTC will have to move aside, or find a solution.

richlipkin

newbie

Activity: 56

Merit: 0

It wasn't even because miners were switching to BCH. It was because of zero-transaction-fee spam designed to advance a political narrative.

There is a BIG difference.

Matias

full member

Activity: 182

Merit: 101

As I wrote in the previous message, the transactions/second I mentioned in the OP, was wrong. Here is more reliable source

http://bitcointicker.co/networkstats/

So the glut was not because of the large number of incoming transactions, it was because of miners switching to BCH.

Topic: 173000 unconfirmed transactions, 13 transactions per second (Read 4313 times)