Topic: BTC Unconfirmed Transactions Increase? (Read 1451 times)
Probably because fees are increasing, and people want to pay the same amount. For example I am paying 10k satoshis in fees no matter how big or small my transaction is. But you can't do this if you need it confirmed fast - I don't care much about the confirmation time.
Anyone else notice an increase in unconfirmed transactions?
https://coincurrencynews.com/2016/10/20/blockchain-unconfirmed-transactions-increase/
Any idea why this could happen?
https://coincurrencynews.com/2016/10/20/blockchain-unconfirmed-transactions-increase/
Any idea why this could happen?
The increase in unconfirmed transactions can be caused by the increased number of users who are using bitcoin. The number of users and the number of transactions they make daily causes a transaction traffic which is out of the capacity of the total existing miners. Since the hashing power is lesser than the actual transactions made then the more transactions left unconfirmed and being piled up. But there is nothing to worry since when the traffic has slow down those unconfirmed transactions will actually be catered also.
currently while I am writing this post the number of unconfirmed transaction is about 11000 so think as compared to previous the number had came down to almost 80% but we cant be happy either because the number is continuously changing now and then.
I've just adopted the habit of adding a slightly higher fee than the recommended one, all my transactions confirm in under 10 minutes.
And it's not like I'm losing a lot of money on transaction fees.
And it's not like I'm losing a lot of money on transaction fees.
If you are using Bitcoin Core, there is a way to flush all the unconfirmed transactions with the zapwallettx command line, but if this happens in any other wallet I dont know what I would do... it would suck if a transaction gets stuck forever.
if the rate of unconfirmed transaction increase day by day then bitcoin network would become useless because if everyone face this proven then obviously they would quit bitcoin and as a whole user might leave the cryptocurrency world. so we should monitor this that why this is happening.
Actually this problem of unconfirmed transaction is mainly due to associating lower fee than recommended by network and many new people fail to understand the concept and importance of these fees and try to lower it even wallet recommend to use high fees. I have never got my transaction stucked for several days as i usually use the recommended fee by my wallet and to know recommended bitcoin fee by size of transaction i find this site helpful https://bitcoinfees.21.co/ Yes this is what we are experiencing this time. There is still 0 confirmation to the btc to my wallet its from 8 in the morning
and now its already 7 in the evening in our place. I don't know also if when this will be confirmed
and now its already 7 in the evening in our place. I don't know also if when this will be confirmed
I assume your transaction is confirmed now. In case you run into the same problem again if you use Bitcoin core wallet you can now use a new option called -zapwallettxes which lets you remove stuck unconfirmed transactions, then try them again. The technical details of how to do it are at this link.
http://bitcoin.stackexchange.com/questions/45988/how-do-you-apply-zapwallettxes-on-windows
if the rate of unconfirmed transaction increase day by day then bitcoin network would become useless because if everyone face this proven then obviously they would quit bitcoin and as a whole user might leave the cryptocurrency world. so we should monitor this that why this is happening.
...And the things are back to normal.
The pool of unconfirmed transactions became small/normal (2 MB ish from 23 MB) and I've just seen that a transaction with 1000 satoshi fee has been confirmed (of course, it took quite some time for that).
So whenever you want to send a transaction is good to check the network status and put the fee accordingly (and depending of your time too).
Sometimes you need higher fees, but it's still only sometimes.
Now the question remaining is who caused all that spam on the blockchain and why...
The pool of unconfirmed transactions became small/normal (2 MB ish from 23 MB) and I've just seen that a transaction with 1000 satoshi fee has been confirmed (of course, it took quite some time for that).
So whenever you want to send a transaction is good to check the network status and put the fee accordingly (and depending of your time too).
Sometimes you need higher fees, but it's still only sometimes.
Now the question remaining is who caused all that spam on the blockchain and why...
now a lot of transactions. plus a growing number of blocks. I think it's better to improve miners fee, so bitcoin faster delivery. 
I don't think increasing transaction fee is the answer, this is how cabals take over financial system and will need to understand that you can never satisfy Greed it keeps asking for more, this may be a move by miners to delay moving transactions with low transaction fee.
Sorry guys I cannot relate on that, I have no problem so far with transacting online. Mine, the 3 confirmation was done for less than an hour and I am contented with that speed.
now a lot of transactions. plus a growing number of blocks. I think it's better to improve miners fee, so bitcoin faster delivery.
I don't think increasing transaction fee is the answer, this is how cabals take over financial system and will need to understand that you can never satisfy Greed it keeps asking for more, this may be a move by miners to delay moving transactions with low transaction fee.
Increasing the transaction fee will shift the preference of other people to lower transaction fee coins. It is one of the feature why bitcoin is also popular.Though its not a good sign that more and more unconfirmed transaction piles up,better to addressed the problem now. The sooner the better.
this is also what i fear.
i know very well that there are in fact a lot of other good benefits in using bitcoin that nothing else has. but one of these benefits has always been a cheap transaction fee.
and with the way the market for fees is increasing i don't really know how things are going to be like in the future as the competition to be included in a block gets harder and harder.
Yes this is what we are experiencing this time. There is still 0 confirmation to the btc to my wallet its from 8 in the morning
and now its already 7 in the evening in our place. I don't know also if when this will be confirmed
and now its already 7 in the evening in our place. I don't know also if when this will be confirmed
now a lot of transactions. plus a growing number of blocks. I think it's better to improve miners fee, so bitcoin faster delivery.
I don't think increasing transaction fee is the answer, this is how cabals take over financial system and will need to understand that you can never satisfy Greed it keeps asking for more, this may be a move by miners to delay moving transactions with low transaction fee.
Increasing the transaction fee will shift the preference of other people to lower transaction fee coins. It is one of the feature why bitcoin is also popular.Though its not a good sign that more and more unconfirmed transaction piles up,better to addressed the problem now. The sooner the better.
I don't think increasing transaction fee is the answer, this is how cabals take over financial system and will need to understand that you can never satisfy Greed it keeps asking for more, this may be a move by miners to delay moving transactions with low transaction fee.
The unconfirmed transactions pool is about 10 MB.
If you would find a block, would you relay any transactions or the ones with higher fee?
Greed is part of human nature...
The peak was 23 MB (wow), so the miners are doing their job nicely.
now a lot of transactions. plus a growing number of blocks. I think it's better to improve miners fee, so bitcoin faster delivery.
I don't think increasing transaction fee is the answer, this is how cabals take over financial system and will need to understand that you can never satisfy Greed it keeps asking for more, this may be a move by miners to delay moving transactions with low transaction fee.
There are still blocks mined without adding all the possible transactions.
435062 (Main Chain) 2016-10-20 03:56:27 SlushPool 0000000000000000022a3b75e78da369c5f764d89075150ae7f7f01963e318e9 0.19
435081 (Main Chain) 2016-10-20 07:34:09 Telco 214 0000000000000000000368f0d5217977fa1b19112ea7da46b856f79fb041ec61 749.02
The last number is the size in kB.
The pool software or something needs fixed/optimized along with the increasing tx fees.
435062 (Main Chain) 2016-10-20 03:56:27 SlushPool 0000000000000000022a3b75e78da369c5f764d89075150ae7f7f01963e318e9 0.19
435081 (Main Chain) 2016-10-20 07:34:09 Telco 214 0000000000000000000368f0d5217977fa1b19112ea7da46b856f79fb041ec61 749.02
The last number is the size in kB.
The pool software or something needs fixed/optimized along with the increasing tx fees.
That happens when a block is found immediately after the other, I don't know if it can be fixed.
There are still blocks mined without adding all the possible transactions.
435062 (Main Chain) 2016-10-20 03:56:27 SlushPool 0000000000000000022a3b75e78da369c5f764d89075150ae7f7f01963e318e9 0.19
435081 (Main Chain) 2016-10-20 07:34:09 Telco 214 0000000000000000000368f0d5217977fa1b19112ea7da46b856f79fb041ec61 749.02
The last number is the size in kB.
The pool software or something needs fixed/optimized along with the increasing tx fees.
435062 (Main Chain) 2016-10-20 03:56:27 SlushPool 0000000000000000022a3b75e78da369c5f764d89075150ae7f7f01963e318e9 0.19
435081 (Main Chain) 2016-10-20 07:34:09 Telco 214 0000000000000000000368f0d5217977fa1b19112ea7da46b856f79fb041ec61 749.02
The last number is the size in kB.
The pool software or something needs fixed/optimized along with the increasing tx fees.
now a lot of transactions. plus a growing number of blocks. I think it's better to improve miners fee, so bitcoin faster delivery.
Anyone else notice an increase in unconfirmed transactions?
https://coincurrencynews.com/2016/10/20/blockchain-unconfirmed-transactions-increase/
Any idea why this could happen?
https://coincurrencynews.com/2016/10/20/blockchain-unconfirmed-transactions-increase/
Any idea why this could happen?
Well, I haven't noticed any delay today. I made a transaction around 30 minutes ago and with transaction fee just slightly over 20,000 sats it took less than 5 minutes to get confirmations.
So I'm wondering are all those delays happening because very low transaction fees were included or you might have a delay even with higher transaction fees?
Well, it's an auction, if you pay high enough fee you'll always beat everybody else, but they cannot all win the auction.
You can check stats here:
https://btc.com/stats/unconfirmed-tx
Thanks for your reply and thanks for the great link, I have bookmarked it because I think it's really helpful. But I can't agree that this is like an auction because in auction only one person wins a lot, so to win you should pay more than others. Here we have a slightly different situation - to be the winners, or in other words to have our transactions confirmed fast, we just shouldn't be among those who is paying much less than others.
It's an auction and there is more than 1 winner because there is more than 1 position being sold...
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