Bitcoin’s Daily Confirmed Transactions Breaks 400,000, Closing Up On All-Time Hi

pixie85

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Quote from: Slow death on April 26, 2019, 10:34:19 AM

Quote from: https://www.cryptofish.com/blog/bitcoins-daily-confirmed-transactions-breaks-400000/

The current number of daily transactions being confirmed on the Bitcoin network is similar to what was obtainable within the 2017/2018 bull run.

this reminds me that in 2017 I paid high fees and it took a long time to have a confirmation, it was a big headache mainly because when I had 1 confirmation the price had already dropped and I was angry about it. But at the moment I have nothing to complain about, because the rates are very low and it does not take time to have 1 confirmation

You're mentioning the most important difference between that market and this one. 400 thousand in 2017 was very different from the same number now because of the fees per transaction and the lack of off chain options. Now it's cheaper and easier so people aren't afraid of sending small transactions. In 2017 you had to be really determined to pay 50 dollars to send your coins to someone.

okala

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The recent spike of event in the cryptocurrency have called for various speculations and couple with the high rate in the number of bitcoin daily transactions, the market is now in a correlation stage despite the fact that the current bitcoin price does not corresponds with the amount of daily transactions compared to 2017 when we have the same amount of transactions on the bitcoin network.

Yakamoto

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Quote from: JessicaVL on April 26, 2019, 08:37:40 AM

There is an increased level of activity on the Bitcoin network which is revealed by the daily number of transactions that are being confirmed.
Read More here: https://www.cryptofish.com/blog/bitcoins-daily-confirmed-transactions-breaks-400000/

I'm surprised that the network is this alive when, like the article mentioned, the previous highest transaction count was 490,000. I guess it means that the network really is organically growing and there's actual involvement from users. I can't complain about that, since it means that there's been real and tangible growth in the user count and this isn't another fad swing of transactions like 2017/2018 was. Bitcoin having ~400,000 transactions on a relatively normal day is a very good thing.

On that note, blockchain.info is only showing ~15,000 unconfirmed transactions, which is low compared to the 40,000 unconfirmed transactions that persisted throughout the entirety of late-2017/early-2018. Must not be a lot of spam going on.

Genemind

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I had the same experience but I'm grateful that I'm getting rid of too much traffic right now. I guess the high volume is one of the reason but we could see a bright future in it. I could sense that we are almost approaching the bull run and prices are getting better each day.

Slow death

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Quote from: Haunebu on April 26, 2019, 09:42:21 AM

All eyes on the 2020 halvening event.

the price will probably increase significantly by 2020

Haunebu

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Quote from: eternalgloom on April 26, 2019, 09:20:43 AM

At least I'm not paying too much in fees, since I'm using a segwit wallet.
Besides that, I also haven't noticed too much of a delay in confirmation times, but I'm not issuing many transaction regularly, so other people might have a different experience.

I have been transacting regularly and I have had a similar experience like you which bodes well for the crypto environment on the whole. These records signify that more and more investors are preparing themselves for something huge in the near future.

All eyes on the 2020 halvening event.

Kemarit

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Quote from: eternalgloom on April 26, 2019, 09:20:43 AM

At least I'm not paying too much in fees, since I'm using a segwit wallet.
Besides that, I also haven't noticed too much of a delay in confirmation times, but I'm not issuing many transaction regularly, so other people might have a different experience.

I haven't had any issues at all as well. It is still quite cheap, and transaction confirmation is very quick.

Perhaps this huge amount of transactions is a indication that bullish sentiments is already here and the price will continue to go up. I haven't check the hash rate though, but I'm assuming that it is some miners started to warm their rigs now as we are closing $6000 and probably mining will be profitable again.

eternalgloom

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At least I'm not paying too much in fees, since I'm using a segwit wallet.
Besides that, I also haven't noticed too much of a delay in confirmation times, but I'm not issuing many transaction regularly, so other people might have a different experience.

jademaxsuy

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Quote from: dothebeats on April 26, 2019, 08:57:54 AM

The network has once again became active after a series of bullish stints that happened from the first of April which prompted a variety of responses from a lot of people. Likewise, this is also a very great time to test whether we can handle such volume or not, and so far I can say that we're doing pretty well with all the transactions coming in day to day.

Well that is not the only reason also for the huge traffic of transactions because the truth is that bitcoin has getting a lot of users over the last few years. It continually grows and this is why it took a huge volume of transactions on btc block chains.

However, still Bitcoin market does only a slow recovery and hopefully it will going to continue.

dothebeats

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The network has once again became active after a series of bullish stints that happened from the first of April which prompted a variety of responses from a lot of people. Likewise, this is also a very great time to test whether we can handle such volume or not, and so far I can say that we're doing pretty well with all the transactions coming in day to day.

JessicaVL

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There is an increased level of activity on the Bitcoin network which is revealed by the daily number of transactions that are being confirmed.
Read More here: https://www.cryptofish.com/blog/bitcoins-daily-confirmed-transactions-breaks-400000/

Topic: Bitcoin’s Daily Confirmed Transactions Breaks 400,000, Closing Up On All-Time Hi (Read 145 times)