Topic: Blockchain is taking much time for confirmations :/ (Read 2049 times)
I assume this is just a wave of panic from user. There are several issues that cause many people suddenly many bitcoin transactions, one of which is a new fee set by xapo, and some new altcoin wallet that uses a Ponzi system suddenly froze. Hopefully transactions in blockchain can return to normal as soon as possible.
See unconfirmed tratransaction had came down to almost 3000 https://blockchain.info/unconfirmed-transactions so i hole now the situation could come down to normal. But we can't keep clam beggar we have no idea when the cyber war on blockchain will take place. We pray GOD not to happen such situation again on bitcoin network. So now transaction would take less time I hope and do pay more fees to get your payment confirmed more faster.
Why is blockchain so slow nowadays?? Its causing a huge loss.. 
Not for nowadays, A lot of the transaction, and the limit for the block to taking the transactions. So the fees will increase for automatically, none is getting awareness. It will make you lose a lot of your time.
https://bitcointalksearch.org/topic/why-is-fee-still-high-6000-unconfirmed-transactions-1778871
It's usefulness for you.
Why is blockchain so slow nowadays?? Its causing a huge loss..
What's the huge loss you are talking about? There's none. And its very simple, just pay the miners fee and you'll be able to confirmed immediately. We don't have choice but to wait for our transaction to get confirmed.
I never get slow confirmations if I pay the recommended fee. That one gets confirmed in maximum one hour. If I go under the recommended fees, it can take even two days to get it confirmed. And compared to other payment methods (like bank wires), it actually doesn't really take too much time. I would rather wait one hour than days for one payment to be sent ..
that's it. pay recommended fee. if you do such thinh, I think there will be no problem on your transaction. bitcoin is more famous so many people do transactions. when we pay recommended fee, the transaction will be normal.
Looking at Bitcoinqueue there's something like 140k transactions unconfirmed with a fee greater than 50 Satoshi per bit, so, yeah, there are a lot of transactions being held back because of confirmation times and there are way too many transactions trying to go on right now.
Looks like there was a spike a day or so ago, and that ended up with a ton of transactions being left unconfirmed.
Looks like there was a spike a day or so ago, and that ended up with a ton of transactions being left unconfirmed.
I have noticed an increase in transaction confirmation time as well. The confirmation time has never been too consistent, so don't get too concerned if it seems to dip in convenience for awhile, it will always bounce back.
As for now, I suggest either increasing your transaction fee if you need to feel it is necessary, or use a service that will speed up your transaction.
Try ViaBTC https://simpsonswiki.com/wiki/Trumptastic_Voyage
This should speed things up a little for now, hopefully the time decreases soon.
As for now, I suggest either increasing your transaction fee if you need to feel it is necessary, or use a service that will speed up your transaction.
Try ViaBTC https://simpsonswiki.com/wiki/Trumptastic_Voyage
This should speed things up a little for now, hopefully the time decreases soon.
Why is blockchain so slow nowadays?? Its causing a huge loss..
well it's normal that blockchain is getting slow nowadays as it is holding and processing so many transactions every once in a while and all transactions of bitcoin are processing through blockchain so it is not hard to understand why blockchain is getting slow also it seems they are also depending on the amount of your transaction which means the smaller that amount is the slower the transaction will be .
Why is blockchain so slow nowadays?? Its causing a huge loss..
I agree it is not ideal at the minute
all that can be suggested is that you pay a higher fee in future. although to me that is only a short term option, people are going to very sick of paying fees all the time for transactions that not so long ago cost a fraction of what it does now. They are not just going to become fed up with this, but at one stage upping the miners fee are not going to help, because the blocks
can only fit X amount of tx's, and if everyone is increasing fees, it will still lead to delays. You are right about something, and that
would be, that increased fees are just a short term solution.... The spammed network is not helping at all.
unless you are sendin below 100k satoshi(around $1 or less) there is no problem in paying 25k-30k satoshi, still quite reasonable
also the logic want that for small amount it mean that they are probably not an important transaction, so they can take longer and you pay less for the fee
What you said about fees is correct, but this is still evading the problem rather than fighting it. also the logic want that for small amount it mean that they are probably not an important transaction, so they can take longer and you pay less for the fee
2 years ago when I wanted to send 330 bytes of data I needed to include 0.00001 transaction fee.
Today the the same transaction needs roughly 0.00004 fee or it will be stuck for more than 10 hours.
Price of BTC is also much higher than it was 2 years ago.
I never get slow confirmations if I pay the recommended fee. That one gets confirmed in maximum one hour. If I go under the recommended fees, it can take even two days to get it confirmed. And compared to other payment methods (like bank wires), it actually doesn't really take too much time. I would rather wait one hour than days for one payment to be sent ..
Recommended fees are not the basis that a certain bitcoin transaction will confirm fast, you are just increasing the priority of your transactions. And the usual thing because people thinks like that, everyone are setting a higher fees than the minimum. So the line of priority list are just getting longer and longer.
But no doubt even with that slow confirmation, still the fastest payment transaction than the usual fiat transactions.
Here in my country we can deposit money into bitcoin instantly and sending the amount of bitcoin in other country few minutes or sooner you will receive the money unlikein fiat using remitance like western union it takes 3 to 7days before you can receive or receive by receivers..
Why is blockchain so slow nowadays?? Its causing a huge loss..
I agree it is not ideal at the minute
all that can be suggested is that you pay a higher fee in future. although to me that is only a short term option, people are going to very sick of paying fees all the time for transactions that not so long ago cost a fraction of what it does now. Why is blockchain so slow nowadays?? Its causing a huge loss..
well it's normal that blockchain is getting slow nowadays as it is holding and processing so many transactions every once in a while and all transactions of bitcoin are processing through blockchain so it is not hard to understand why blockchain is getting slow also it seems they are also depending on the amount of your transaction which means the smaller that amount is the slower the transaction will be .
More miners join the pools difficulty increases as a result and with electricity costs differently in locations is probably that the price is not ideal for miners so they are trying to maximize their profit by processing the higher fees transactions first.
Solution is for pools to run more nodes they can spare a few computers to run a full node on each one and if all of them do this problem wont go away but at least makes the network faster, 3 transactions per second is a joke considering the growth rate of adoption.
Solution is for pools to run more nodes they can spare a few computers to run a full node on each one and if all of them do this problem wont go away but at least makes the network faster, 3 transactions per second is a joke considering the growth rate of adoption.
I dont agree with you about bitcoin is fast against fiat transaction if you just literally means fast you can just hand down the money(fiat) you have in your pocket and the transaction is done while sending fee thru bitcoin will take some time because of confirmation . I'm pointing out the fastest way to pay that the money will be on the hand of the seller.
But you can't pay aboard with cash and if you look at usual fiat based centralized payment processor due to chargeback you may have to wait upto 180 days to be sure that what you have received few months ago now can't be reversed. 
I never get slow confirmations if I pay the recommended fee. That one gets confirmed in maximum one hour. If I go under the recommended fees, it can take even two days to get it confirmed. And compared to other payment methods (like bank wires), it actually doesn't really take too much time. I would rather wait one hour than days for one payment to be sent ..
Recommended fees are not the basis that a certain bitcoin transaction will confirm fast, you are just increasing the priority of your transactions. And the usual thing because people thinks like that, everyone are setting a higher fees than the minimum. So the line of priority list are just getting longer and longer.
But no doubt even with that slow confirmation, still the fastest payment transaction than the usual fiat transactions.
Whenever mempool is full with transactions waiting for confirmation transactions with high fee will get priority to be included in block by miners. Mempool can be full either due to huge number of bitcoin transactions triggered by some event or attack on bitcoin network by competitors, in both case you can wait for few hours till those mempool drops out few transactions if you don't like to pay more fee.
If everybody pays double, then we end up in the same situation, and everybody will be saying pay quadruple. 
Not all the users want to pay higher fees, and not all the transactions have the same "urgency", If you want to pay something you want a fast transaction (you will use a higher fee), but if you are sending from your wallet to your cold storage you don't need a fast transaction (you can pay a lower fee and wait some hours to confirm).
Why is blockchain so slow nowadays?? Its causing a huge loss..
More people using bitcoin and making transaction the more it will take the transaction to confirm longer. We reall can't do anythig about this but to be patient. Seding a higher fee may help but if miners are busy with lots of transaction wecan onl do is wait. 
I also had the same experience with Blockchain a few days ago.
I chose recommended fee and send one payment but had to wait more than 24 hours for transaction to be confirmed.
I didn't have small fee, not at all.
So, I really hope that this situation will change or some people may give up from Blockchain, because of very slow confirmation process.
I chose recommended fee and send one payment but had to wait more than 24 hours for transaction to be confirmed.
I didn't have small fee, not at all.
So, I really hope that this situation will change or some people may give up from Blockchain, because of very slow confirmation process.
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