Bitcoin is not serving its purpose ANYMORE transfer waiting 48hr even paid high - page 3.

mk4

legendary

Activity: 2786

Merit: 3845

Paldo.io 🤖

Quote from: nymphav on February 23, 2021, 09:55:15 PM

Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?

It sure was one of the initial main selling points. Unfortunately(or fortunately?) bitcoin's adoption and price just grew a bit too fast for everyone to adjust. Layer 2 solutions such as Lightning are what's going to fix the speed and fee problem, but they're unfortunately not that ready yet. It's going to take time.

so98nn

hero member

Activity: 2086

Merit: 603

Quote from: SquirrelJulietGarden on February 23, 2021, 10:21:44 PM

Your transaction will be confirmed very very soon.
179 sat/vbyte is too high to get confirmation.

The priority position for your transaction is 354/162269 total waiting transactions.
https://blockchair.com/bitcoin/transaction/c2f026d881fb1e927918f6dbb699636e4fc4591623ceadac80c09a1db07fc03b

With transaction count in a block is generally bigger than 400: https://blockchair.com/bitcoin/charts/transactions-in-block

Dam, that wait time is huge and can only happen when prices get skyrocketed.

You always make the transactions mostly on weekend then it can get queued shortly because on weekends the transactions are somehow very less as compared to the working days. This could be obvious since on weekdays institutional investors, exchangers with focused market are moving their assets here and there.

This is a golden tip if you also wanna save money on the fees. I would never ever pay 27 bucks in fees. Thats crazy.

Sithara007

legendary

Activity: 3220

Merit: 1344

Leading Crypto Sports Betting & Casino Platform

OP is simply unlucky. I checked the latest block that was mined (#671905). I could see a lot of transactions included in that block, that are having fee ranging from 120 Sat/Byte to 150 Sat/Byte. OP paid 176 Sat/Byte, and his transaction should have got the preference over these. But sometimes the smaller transactions (in terms of size) get confirmed first, even if the fee is slightly less. At this point, there is not much to do. Please wait patiently for some more time and hope that eventually the transaction will get confirmed.

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Quote from: jossiel on February 23, 2021, 11:17:27 PM

This is a high fee transaction yet still unconfirmed. I've checked mempool and there's a lot of unconfirmed transactions.

Try your luck pushing that transaction through: https://www.viabtc.com/tools/txaccelerator

Quote from: nymphav on February 23, 2021, 09:55:15 PM

Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?

That's right yet sad to see that you have experienced slow in confirmation even though you've paid a lot in fees.

Or use the bitaccelerate - https://bitaccelerate.com/. Whenever I make btc transaction, I use this free accelerator afterwards. OP's transaction will be soon confirmed. But 19 hrs and still waiting, paying 176 sat/byte, usually that payment amount before will only take few minutes.

Khaos77

member

Activity: 200

Merit: 73

Flag Day ☺

Quote from: nymphav on February 23, 2021, 09:55:15 PM

Hello,

I was made a transfer yesterday
https://www.blockchain.com/btc/tx/c2f026d881fb1e927918f6dbb699636e4fc4591623ceadac80c09a1db07fc03b

I paid high fee:
Fee
$29.26
(176.366 sat/B - 44.091 sat/WU - 339 bytes)

But still didnt get confirmed.

Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?

Bitcoin sucks at fast transfers and has high fees on top of that.

For Fast Transfers use LTC or DOGE.

jossiel

hero member

Activity: 2842

Merit: 625

This is a high fee transaction yet still unconfirmed. I've checked mempool and there's a lot of unconfirmed transactions.

Try your luck pushing that transaction through: https://www.viabtc.com/tools/txaccelerator

Quote from: nymphav on February 23, 2021, 09:55:15 PM

Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?

That's right yet sad to see that you have experienced slow in confirmation even though you've paid a lot in fees.

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

@SquirrelJulietGarden That is a very cool site. I was not aware of that site. I have been watching it for a bit.

@nymphav The problem is that other transaction with an even higher priority appear to be "pushing you out"

I agree this is pretty pathetic. You paid $32.47 to transfer $271.05 - a huge percentage - and that is not enough to get you to the front of the queue!

Now sitting at Priority: 545/161773

Even paying over thirty dollars you may never get in a block due to other people paying even more.

Bitcoin is not for small transfers at this time.

Lorence.xD

sr. member

Activity: 1624

Merit: 315

Leading Crypto Sports Betting & Casino Platform

You could have paid more to make the transaction faster, the network congestion is just too big of a problem so I think that you should just be patient when it comes to this kind of thing, unless you really need the money, I think that you will be alright. Someday this problem with network congestion will be solved by the developers because I believe that this is one of the many problems that bitcoin has to address so it can face no problem when it becomes widely adopted.

SquirrelJulietGarden

hero member

Activity: 1344

Merit: 742

Your transaction will be confirmed very very soon.
179 sat/vbyte is too high to get confirmation.

The priority position for your transaction is 354/162269 total waiting transactions.
https://blockchair.com/bitcoin/transaction/c2f026d881fb1e927918f6dbb699636e4fc4591623ceadac80c09a1db07fc03b

With transaction count in a block is generally bigger than 400: https://blockchair.com/bitcoin/charts/transactions-in-block

fiulpro

hero member

Activity: 1862

Merit: 830

Hi
This is the same issue that I have been facing since the price skyrocketed. Honestly this is just network congestion. There are a lot of trading being done right now and therefore it is supposed to be expected. My transaction failed and was returned to me and I again am waiting for the transaction to get confirmed. Just try and use lightning ⚡ if it is super important and other than that you would just have to wait for a while. The transaction would be returned but I do believe that you should wait for a while to again make it.
These kinds of issues will ofcourse arrive in the future too but you have to understand that due to sudden immense success of Bitcoins this was to be expected. But some wallets are still functioning well. All we can do is to wait for some updates in the network.

Edit : it's confirmed now so I believe all is good.

nymphav

newbie

Activity: 6

Merit: 0

Hello,

I was made a transfer yesterday
https://www.blockchain.com/btc/tx/c2f026d881fb1e927918f6dbb699636e4fc4591623ceadac80c09a1db07fc03b

I paid high fee:
Fee
$29.26
(176.366 sat/B - 44.091 sat/WU - 339 bytes)

But still didnt get confirmed.

Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?

Topic: Bitcoin is not serving its purpose ANYMORE transfer waiting 48hr even paid high - page 3. (Read 361 times)