Topic: [2017-04-08] Bitcoiners Resort to Jerry-Rigged Solutions to Send Bitcoin (Read 375 times)
April 09, 2017, 11:22:45 PM
Zero confirms for a business would be cool. Because Bitcoin is based on trust. And A transaction does not need to be confirmed to be seen on block chain. Well I guess it does need one confirm. But after it has been entered in a block it should be ok.
April 08, 2017, 10:58:15 PM
Some interesting statistics from the article - Unconfirmed transactions on Monday are 4 times that on Sunday.
Seems like most bitcoiners take a break on weekends. This does seem counterintuitive, but we should make the best use of it.
Seems like most bitcoiners take a break on weekends. This does seem counterintuitive, but we should make the best use of it.
April 08, 2017, 08:59:22 PM
Fees, for instance, are always varying and lately, people have been paying upwards of $1-1.50 per transaction. For now, a great majority of people have been resorting to looking at websites like 21 inc’s average fee converter to calculate the fees for the transactions they send.
You're right, they do. And if they go on 21's average fee converter as you suggest, they certainly won't find "upwards of $1-1.50 per transaction" right now. Actually, the current transaction fee based on the median transaction size of 226 bytes would be 31,640 satoshi, according to 21.co, which converts to $0.38 at current rates.Sure, there's a problem with fees, but the author is clearly trying to make the situation appear more desperate than it is, perhaps as an attempt to subtly push their preferred scaling solution or perhaps just as clickbait. The average fees vary significantly, and 21.co should not be viewed as a jerry-rigged solution, it's just a normal way to determine how large a transaction fee to pay.
April 08, 2017, 11:17:00 AM
Over the past few months, many people have been talking heavily about the Bitcoin network’s backlog of unconfirmed transactions and higher fees. Unfortunately, the community at large hasn’t figured out the best solutions to tackle these issues. However recently many bitcoiners are resorting to different ‘jerry-rigged’ ways to overcome the current obstacles of steep miner fees and lagging transactions.
Lately, there has been quite a bit of focus on the scaling debate, and much of the discussion resonates with Bitcoin’s transaction rate and miner fees. Fees, for instance, are always varying and lately, people have been paying upwards of $1-1.50 per transaction. For now, a great majority of people have been resorting to looking at websites like 21 inc’s average fee converter to calculate the fees for the transactions they send.
Read More Here >>> https://news.bitcoin.com/bitcoiners-jerry-rigged-solutions-send-bitcoin/
Lately, there has been quite a bit of focus on the scaling debate, and much of the discussion resonates with Bitcoin’s transaction rate and miner fees. Fees, for instance, are always varying and lately, people have been paying upwards of $1-1.50 per transaction. For now, a great majority of people have been resorting to looking at websites like 21 inc’s average fee converter to calculate the fees for the transactions they send.
Read More Here >>> https://news.bitcoin.com/bitcoiners-jerry-rigged-solutions-send-bitcoin/
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