Topic: 65,000+ Unconfirmed Transactions, Why? (Read 1830 times)

It wont unless theres a layer on top of the network to help carry the load off the blockchain and transactions be recorded in its own database. The BTC blockchain can act as a settlement layer for the whole network. I wish someone invented such a layer so we wouldnt be having these long waits and sleepless nights.

Totally true, with the bitcoin becoming higher in price and people are coming in everyday that only means more transaction and more traffic which means more work for the miners, that is why it is why the transactions take time to get confirmed if you want to ensure the transaction reaches fast you have to pay fees.

This problem is killing me and in these days lots of unconfirmed transactions. Is there a problem?

A week ago there is no problem in transactions but for last week my all transactions are confirmed in 2 or 3 days later. I cant payout my one of won bet for that reason. What did happen to transaction i dont know. Looked again in blockchain and it appears like a doesnt exist.

A week ago 10k fee for 300k sat was confirm in 1-3 hours but now i make 15k fee still dont confirmed. Some of them over 24 hours. Only 1 confirmed. Here u can see;

How can I know how big in bytes will be my transactions ?

If you are using the bitcoin core client it will estimate for you. If not, use this site to get an idea of what fee to use: https://bitcoinfees.21.co/

send a transaction before 2 hours,
and still 0 confirmations

Whats happening with network? This is very bad issue? 

Can someone help me calculate transaction fees?
Im still learning how to send/receive and I want to make sure
my BTC get to where theyre going safely. Toss me an IM.

The latest figure of the unconfirmed transaction is 80,110 and it's really disappointing, in such case dealing in local shops in almost a trouble. Of course paying high fees is an option but it's not worth it when it comes to dealing low priced goods. The price of a commodity is almost equal to bitcoin transaction fee so it's beyond my understanding that how cryptocurrency is going to be implemented on local level.

Obviously if the whole network agrees on any hard fork there can't possibly be any problem implementing it. Talk about a statement of the obvious  . Thing is the big blocks hard fork is far from having reached such a consensus. Thus, pushing it forward in the present situation will be a disaster.

Don't worry, Danny's not in favour of Bitcoin's fee market, so he's using the most emotional language he can, hoping that no-one notices him slipping political rhetoric into his otherwise prosaic, technical language.

Fork war, anyone? Danny?

I can't wait for all these people who are clogging up the forums with clueless and irreverent posts about block sizes and other technical issues (and who are obviously not engineers, not here to learn, and also probably own little to no Bitcoin) to emigrate.

actually bitcoin is a victim of 2 things:
the politics which are preventing us from moving forward in scaling bitcoin
and the spam attacks that are increasing the backlog to unrealistic numbers.


hard forks are not something to fear. if they are done right it is actually good and bitcoin has already have at least one hard fork in the past.
and you are comparing bitcoin's hard fork with an altcoin hard fork that was performed in a wrong way without consensus the developers of eth one day decided they need to hard fork eth and then did it without reaching consensus among all so they ended up with two chains.
if bitcoin or any other project follows that path they will end up with disasters too.

but it if a big "if"... and so far as i know the consensus with bitcoin is more than 95%

I use LTC all of the time, orphans have never been an issue,
the only issue that is a pain in the ass , is BTC excessive fees and extremely slow transfers.

 

It is an accurate comparison , only a fool will pay 65 cents when they can receive the exact same service for .0004 of a cent.
BTC acceptance will decline if these fees are not brought to more competitive ranges.
Simple as that.


 

FYI:
As far as just obeying to Pay Higher & Higher Fees.

Only a Slave Obeys.

A Free Man will Choose.

only because of faster confirmations(2.5 minutes), not because they forked to 4mb or whatever, and we know that faster confirmation lead to orphan litecoin is still plagued by it, unless they recently introduced soemthign like subchain...

It's not a good comparison that between LTC and BTC. BTC price is currently over 1000 USD where LTC price is stuck from ages from what I see in exchanges (as LTC is the only coin I was never interested in, actually I am mining Zcash) to about 6-7 USD. BTC user base is huge where LTC user base is not that big that's why in LTC you pay low fees. People who accept bitcoin are much more than people who accept Litecoin. You should agree with the "fees" if you want to use it, if not then don't use it, as simple as this.

LTC already has 4X the Onchain Transactions Capacity of BTC without segwit, LTC does not need it.

BTC would have to upgrade to a 4 megabyte BlockSize to just Match LTC current Capacity.


 

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BTC lost the micropayment utility last year,
with the latest fees increase it will start losing the foreign markets.

With LTC @$4.07,  I can move 210 US$ /  51.59 LTC and my transaction fee will be 0.00010000 LTC
which = $ .000407  

With LTC , you are paying less than one tenth of a penny and with BTC you are Paying OVER 1597X .

Sorry that just borders on Stupidity to waste that much on BTC transfers fees.  

If the blocksize is not increased soon, we are all watching BTC's death spiral.

 

Fee war. So meaning we could possibly reach a 25 usd dollar in fees per transaction?

Theres a guy here who kept hyping LTC and that it will activate segwit and that everyone will start using the altcoin. I did my research and found that segwit activation in LTC is under 3%. Thats worse than BTC. I dont think the LTC cares about segwit.

Simple: Bitcoin is the victim of its popularity and we're reaching a point where the total weight of all transactions is such that blocks are full. That happens indirectly when the number of transactions increase, which in turn happens when new users join the bitcoin club.
From this point on there are three solutions: (1) either you're satisfied with the current situation and you accept to pay higher fees without doing anything (said fees will get higher and higher as new users arrive, until the point where they will be so high that no new users will join anymore, and then they'll reach a high and stabilize but there's no saying where and when this will happen), either (2) you join the big blocks club, or (3) you support segwit and the lightning network. Pick your side but pick wisely: each of them have their lot of downsides and advantages.

I personally advise against choice #2 as a hard fork would be disastrous for the unity of the network. We've recently had a glimpse of what would happen in case of a hard fork when one of them happened between ETH and ETC. Since it's happened most big blocks supporters seem to have stopped supporting them too. I mean, it would be open warfare between BTC and its fork and I'm sure that as an investor you and your money don't want to be caught in such an apocalypse. Also, as blocks would get bigger, security concerns would arise.