Topic: Bitcoin transaction Times SUCK - page 5. (Read 6324 times)

cheers man, yeah was unaware of the spamming taking place will increase the standard fee for the future .. lesson learned 

2k is very low, don't listen to the recommended fee of the client, with the current spam storm, it's better to set it at 10k at least

yeah besides that, you need to wait only, it will be confirmed eventually

fee was standard, I didn't touch it

0.00002059 included fee

I will increase it in future transactions but is this just a matter of waiting for my transaction to get processed?   

OP if you have an issue with confirmation time you can use off-chain  service, if your amount is small enough, and your problem will be solved


your fee was? probably not 10k satoshi, but 0


and also the cheapest, even if you pay above 100k satoshi, this is still a joke in comparison with the enormous fee of the fiat system, not to mention the 1.75% on the conversion rate, i nightmare...

10,000 satoshis is standard fee on my wallet (mycelium), not priority. If you want priority... yes, pay a bigger fee!

Don`t worry your coins should be confirmed in a few days, all of my transactions have been completed one took 4 days while the other one took 2 days. 

I sent some btc to bittrex about 26 hours ago, has appeared pending in my bittrex account with 0 confirmations, bitcoin core is also 0 confirmations.

not sure what I can do here 

My last two deposits to Bittrex took less than 20 minutes and they were in the past week

Maybe you people are forgetting how much time it takes to transfer money using the traditional fiat system. Bitcoin is still the fastest way than any other currency out there BTCGUARANTEEDBTC

Hmm, odd. I only pay the same fees that you paid but my transactions get confirmed within 20> minutes. And maybe you are not talking about transaction times but rather confirmation times. Confirmation times take a little while whereas transaction times are instantaneous.

I just dont get why people are not aware of what happening with the bitcoin network, is so easy to just pay for fees manually then have to wait for confirmation just because you didnt wanted to pay a little more, if you dont have the time to wait just pay a little more.

Aye.  Totally agreed there.


Bitcoin was never designed to replace any currency.  It's not designed to allow me to buy a bottle of water at 7/11 for $0.50.  However, it is an excellent way to store and send / receive wealth.  That's what it was designed for, and it does that perfectly IMO.  It's the same as pulling my monthly salary out.  Most people have their salaries deposited into their bank accounts, whereas I just pull mine out from my Bitcoin wallet.  That's what it was intended for, and it does its job remarkably well.

How do you manage that?  I usually send multiple outputs per transaction, i.e. larger transactions, using only 2000 satoshi per KB as fee.  About ten transactions a day by average.  Mine almost always confirm on the first block.  Perhaps you are using very young inputs?  I practically never include inputs with less than 6 confirmations, and usually at least 100.

Bitcoin is very divisible and the price would adjust quickly but the system isn't ready to handle the additional users. This thread is an example of why it's not ready. Besides, imagine the infrastructure setup cost and time. Ramping up every business owner and employee in a country to accept Bitcoin safely. Hell, that alone is a decade of work.

Generally I side with the devs / miners / economic theory on this stuff.. but to play devils advocate...

There are a few problems the the use of wallets today.

• People generally use different wallets that are dumb about fee calculations.
• A receiver has no control over how dumb the sender or the sender's wallet might be.

Luckily, the fix is already getting a LOT of discussion in the dev channels.

CPFP - Child Pays For Parent
This is a fix that about 4% of the miners already employ.  I've requested that wallet makers include a user control to put it into wallet applications (like Bitcoin-Qt).  Once the user controls are in place, the user will be able to execute a CPFP transaction against something they want to confirm quicker.  It's a way to link a low fee transaction to a high fee transaction, kind of like a lifeguard.  Your transaction is drowning, so you make a lifegaurd transaction to grab it and pull it into the blockchain.

RBF - Replace by Fee
This fix, to use the analogy above is like a evil lifeguard.  This creates a transaction that will kill your previous one and replace it with itself.  The replacement transaction will have higher fees, so this is a type of mulligan.  This proposal would likely cause peers to need to update their double-spend detection but it is being hotly discussed.

So, what I've done, and you should to if your frustrated, is contact the devs for my wallet app and said "Please put CPFP and RBF features into your wallet app that I use".  Think of it as a "FTFY" button in your transaction display.

See good can come out of this.

500K to one million users and around 20-30% of the bitcoin in circulation. Not much to share with new users are there?

Hindsight is 20/20. The Greeks needed to get into Bitcoin a couple of years ago. It's too late for them. Bitcoin isn't even close to being ready to replace the currency in even the smallest national economy anyway. I've seen estimates of current Bitcoin users numbering 500k to one million. Imagine 11 million people jumping on the system real quick. Not a pretty picture. 

We were doing good there till we hit Goodwin's Law.

Wouldn't say that too quickly.  I'm quite confident there's tons of people in Greece who currently wish their savings were in Bitcoin right now, versus in the banks.  This is a systemic problem, and will only grow over time.  Just wait until Portugal and/or Spain goes.

What are the tx sizes?  How many inputs are being included in any given transaction?

Are you getting a ton of 0.01 incoming deposits, then bundling that up into a 3 BTC transaction with a 0.0001 fee attached?  Personally, I just stay on the safe side, and put in 0.0001 for every input that gets included.  5 inputs = 0.0005 fee, and so on.  Works fine.

I don't know, but I haven't had an issue.  The network itself works beautifully, and transactions hit almost instantly across the network.  Now whether or not the merchant wants to wait for X confirmations is up to them, and I agree, it can get a little annoying at times.  Not annoying enough to steer me away from bitcoin though.