With the price up and trading going up, fees are skyrocketing. Transactions a few days ago took hours which was too long. My now it's been 24 hours and still 0 confirmations. Besides the major annoyance and risk this causes, is there any way to fix BTC? I don't see it surviving unreliability.
Topic: BTC low fee taking days (or more) (Read 4765 times)
With the price up and trading going up, fees are skyrocketing. Transactions a few days ago took hours which was too long. My now it's been 24 hours and still 0 confirmations. Besides the major annoyance and risk this causes, is there any way to fix BTC? I don't see it surviving unreliability.
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I think it is just a coincidental and your transaction is not prioritize but I think there are a great chance that if you give a smaller fee the transaction would not make it to the wallet, I had a transaction just the other day that took 1 day to be confirmed and I never had a transaction that just goes back to the sender.
If you fee's to your transaction was very low it will really takes a day before it confirms. According to my idea on it, if within 36 hours you didn't received any confirmation in the blockchain it will automatically go back where it come from. So meaning we don't have to worry about it only we need to do transaction again to encash it.
With the price up and trading going up, fees are skyrocketing. Transactions a few days ago took hours which was too long. My now it's been 24 hours and still 0 confirmations. Besides the major annoyance and risk this causes, is there any way to fix BTC? I don't see it surviving unreliability.
If you fee's to your transaction was very low it will really takes a day before it confirms. According to my idea on it, if within 36 hours you didn't received any confirmation in the blockchain it will automatically go back where it come from. So meaning we don't have to worry about it only we need to do transaction again to encash it.
I think it is just a coincidental and your transaction is not prioritize but I think there are a great chance that if you give a smaller fee the transaction would not make it to the wallet, I had a transaction just the other day that took 1 day to be confirmed and I never had a transaction that just goes back to the sender.
With the price up and trading going up, fees are skyrocketing. Transactions a few days ago took hours which was too long. My now it's been 24 hours and still 0 confirmations. Besides the major annoyance and risk this causes, is there any way to fix BTC? I don't see it surviving unreliability.
If you fee's to your transaction was very low it will really takes a day before it confirms. According to my idea on it, if within 36 hours you didn't received any confirmation in the blockchain it will automatically go back where it come from. So meaning we don't have to worry about it only we need to do transaction again to encash it.
With the price up and trading going up, fees are skyrocketing. Transactions a few days ago took hours which was too long. My now it's been 24 hours and still 0 confirmations. Besides the major annoyance and risk this causes, is there any way to fix BTC? I don't see it surviving unreliability.
You cant afford the bitcoin low fee these days as with the normal of high fee it takes few hrs to confirm so for the low fee you have to wait for a week to be confirmed.
With the price up and trading going up, fees are skyrocketing. Transactions a few days ago took hours which was too long. My now it's been 24 hours and still 0 confirmations. Besides the major annoyance and risk this causes, is there any way to fix BTC? I don't see it surviving unreliability.
My experience before in the blockchain, I do transaction in the electrum then I adjusted the fee into lowest fee, and I didn't expect I will wait for 3days before I received the confirmation. So after that traumatic experience of mine, Lol I always make the transaction to the maximum fee.
For those worried about having to pay 200 sats/byte type fees to get their low value transactions confirmed in a reasonable amount of time... Maybe you should consider altcoins?
You can take your low value transaction to a different chain... eg. convert your BTC to DOGE and send via the DOGE network with a nice low 1 DOGE fee... that's like 20 sats... for the whole transaction!
And the confirmation times are measured in minutes... not hours or days like BTC is at the moment.
I suspect that there is even a possibility that some of the more stable altcoins might get a wee boost if the transaction confirmation times vs. fee size on the BTC blockchain continue like this...
You can take your low value transaction to a different chain... eg. convert your BTC to DOGE and send via the DOGE network with a nice low 1 DOGE fee... that's like 20 sats... for the whole transaction!
And the confirmation times are measured in minutes... not hours or days like BTC is at the moment.
I suspect that there is even a possibility that some of the more stable altcoins might get a wee boost if the transaction confirmation times vs. fee size on the BTC blockchain continue like this...
With the price up and trading going up, fees are skyrocketing. Transactions a few days ago took hours which was too long. My now it's been 24 hours and still 0 confirmations. Besides the major annoyance and risk this causes, is there any way to fix BTC? I don't see it surviving unreliability.
With the price up and trading going up, fees are skyrocketing. Transactions a few days ago took hours which was too long. My now it's been 24 hours and still 0 confirmations. Besides the major annoyance and risk this causes, is there any way to fix BTC? I don't see it surviving unreliability.
So many complaints about unconfirmed transactions these days? I wonder what miners have to do with that. Some say that higher fees speed up the transactions but that doesn't have to be the rule. I have experience that transactions with recommended fees got through without problem also. But I wonder why all the sudden fees are such problems and are they going to be higher and higher? This may make some users to abandon the bitcoin.
That's what I've been saying all week that these high fees and delayed confirmations will Bitcoin unattractive especially to the newbies and will eventually collapse it but it seems we have to wait s little to see if they can do something meaningful about it.
Most of it comes down to spam attacks forcing the average fee up since people want to get their transaction through anyways, and it just results in a compounding effect.
So many complaints about unconfirmed transactions these days? I wonder what miners have to do with that. Some say that higher fees speed up the transactions but that doesn't have to be the rule. I have experience that transactions with recommended fees got through without problem also. But I wonder why all the sudden fees are such problems and are they going to be higher and higher? This may make some users to abandon the bitcoin.
That's what I've been saying all week that these high fees and delayed confirmations will Bitcoin unattractive especially to the newbies and will eventually collapse it but it seems we have to wait s little to see if they can do something meaningful about it.
So many complaints about unconfirmed transactions these days? I wonder what miners have to do with that. Some say that higher fees speed up the transactions but that doesn't have to be the rule. I have experience that transactions with recommended fees got through without problem also. But I wonder why all the sudden fees are such problems and are they going to be higher and higher? This may make some users to abandon the bitcoin.
Speaking of which I should try my local ATM this afternoon: If people have to stand around waiting 10-30 minutes for their transaction to confirm, that will be bullshit.
In theory any TXID reaching the mempool could be taken for a successfull transfer, since it inevitably succeeds. Under ideal circumstances the 10 minutes blocktime would not matter at all. Speaking of Litecoin's 2.5 minutes those are a useless improvement.
If 72 hour timeouts grow common this dream is in serious danger
With the price up and trading going up, fees are skyrocketing. Transactions a few days ago took hours which was too long. My now it's been 24 hours and still 0 confirmations. Besides the major annoyance and risk this causes, is there any way to fix BTC? I don't see it surviving unreliability.
Even a thousands of bitcoin enthusiast faced this circumstance we can't do nothing about it but to accept the fact that every transaction were going to make in the blockchain is often delayed confirmations, though in the end still confirm into our wallet.
Once demand exceeds capacity, it will be the case that there will be transactions that never confirm. It's even stated on the bitcoin core QT tooltip for paying only the minimum required fee of 0.00001000 BTC/kB.
You could still have low fees and use the viabit accelerator. The accelerator works and I have tried it a couple of times now with great success. If you dont get to use the accelerator then with low fees it could take days, or the transactions will be reverted back to the original address.
Some hint on where to find this marvelous service? Google served me some "The Advanced Light Source Accelerator Control System" from Standford, literally keeping you in the dark
Just know that they only accept 100 transactions per hour and the minimum fee on the transaction has to be at least .0001 BTC per KB.
You could still have low fees and use the viabit accelerator. The accelerator works and I have tried it a couple of times now with great success. If you dont get to use the accelerator then with low fees it could take days, or the transactions will be reverted back to the original address.
Some hint on where to find this marvelous service? Google served me some "The Advanced Light Source Accelerator Control System" from Standford, literally keeping you in the dark
Yep. I used to do a fair bit of work in combinational game theory, so I can see these problems. But it does point out an interesting role for something like Litecoin, quick block commits, better possible support for expansion and a reasonably stable price right now. Only question is will other vendors start accepting it, and will the ATMs start supporting LTC for quick transactions.
Speaking of which I should try my local ATM this afternoon: If people have to stand around waiting 10-30 minutes for their transaction to confirm, that will be bullshit.
Speaking of which I should try my local ATM this afternoon: If people have to stand around waiting 10-30 minutes for their transaction to confirm, that will be bullshit.
With the price up and trading going up, fees are skyrocketing. Transactions a few days ago took hours which was too long. My now it's been 24 hours and still 0 confirmations. Besides the major annoyance and risk this causes, is there any way to fix BTC? I don't see it surviving unreliability.
Even a thousands of bitcoin enthusiast faced this circumstance we can't do nothing about it but to accept the fact that every transaction were going to make in the blockchain is often delayed confirmations, though in the end still confirm into our wallet.
You could still have low fees and use the viabit accelerator. The accelerator works and I have tried it a couple of times now with great success. If you dont get to use the accelerator then with low fees it could take days, or the transactions will be reverted back to the original address.
Of course. However when everyone uses systems like viabit you're back to square one. It's a classic Queen's race, where everyone runs faster and faster to stay in place.
You can see the issue clearly. Eventually some people will have to drop out of Queen's race exhausted. So bitcoin adoption essentially stops or even shrinks.
Hopefully the community will stop playing sectarian politics and come up with a consensus solution.
I'm holding on to the bitcoin I've got now. If it forks, I'll hold on until I know what the successful fork is, but I don't think this is a good future for bitcoin. It's just even more confusion to help prevent mass adoption.
I'm now diversifying into a few alts just in case. But if I loose the lot because crypto becomes a failed experiment, I can live with that.
With the price up and trading going up, fees are skyrocketing. Transactions a few days ago took hours which was too long. My now it's been 24 hours and still 0 confirmations. Besides the major annoyance and risk this causes, is there any way to fix BTC? I don't see it surviving unreliability.
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