Clarification Please | Bitcointalksearch.org

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Quote from: platinumsteel2016 on May 18, 2023, 06:48:30 PM

Recently I received some btc that took about 4 days, there is another transfer that was made May 7th, I have not gotten it yet!

How can I find out the status / when I will receive it??!? I was told that the "slowdown" is due to

higher transfer fees. Will these fees ever lower, and are BTC worth the investment still??!? (Layman Terms Please).

These problems are likely to disappear soon. There have been numerous NFT minting events, most probably this is the main cause of the slowdown. As for investments, BTC is suitable only for long-term hodling, so these blockchain problems are not going to affect the price IMHO...

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Quote from: platinumsteel2016 on May 18, 2023, 06:48:30 PM

Recently I received some btc that took about 4 days, there is another transfer that was made May 7th, I have not gotten it yet!

How can I find out the status / when I will receive it??!? I was told that the "slowdown" is due to

higher transfer fees. Will these fees ever lower, and are BTC worth the investment still??!? (Layman Terms Please).

It's taking so much time for you to receive your bitcoin simply because the sender has sent it with a very minimal fee, understand that the bitcoin network, through some wallets offer senders the ability to choose to get a confirmation really really fast, fast, slow and really really slow, it's like four options to choose from, and those options comes with different transactions fees, the first which is "really really fast" comes with the highest transaction fee, but you will get a confirmation almost immediately, while the last one which is "really really slow", comes with the lowest transaction fee, but it might take days or weeks before you get a confirmation depending on how congested or free the network is..

But regardless of the above, bitcoin remains a really good asset to invest in, like I said above, getting a transaction confirmed is very flexible, you can choose to get a transaction confirmed really fast, or really slow, all depends much on how much you are will to spend as a transaction fee.

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Quote from: Minhxx on June 02, 2023, 05:49:54 PM

This delay is due to gas fees being pushed up too high.

"Gas Fees" is the terminology used for in Ethereum and other similar blockchains, though. In Bitcoin, we use Transaction fee rate, transaction fees or miner fees.

Quote from: Minhxx on June 02, 2023, 05:49:54 PM

It is possible to track how many days are left in the transaction hash

it's not entirely possible, though. The expected time of arrival is mostly based on the recent average block confirmation times, but this can change depending on how quickly or slowly the transactions get confirmed

Minhxx

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This delay is due to gas fees being pushed up too high. I once lost a transaction that took 5 days, that bitcoin returned when the transaction fee was lowered to the original lower level.
The exchange market is always volatile, you should watch out for gas fees
It is possible to track how many days are left in the transaction hash

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Quote from: The Cryptovator on May 19, 2023, 11:30:34 AM

Without adequate information, it becomes challenging to verify the current status of your transaction. To do so, you would need to provide either the transaction hash or your address. However, sharing these details could compromise your privacy. As others have previously suggested, you should consult a live block explorer to verify the transaction. Be cautious of any potential attempts to deceive you and ensure that the transactions are legitimate. If the transaction is still pending, it may receive confirmation soon. The sender should possess a transaction hash that you can use to check, or alternatively, you can review your address for transaction history

I think there is no need for @OP to send the transaction hash or his address, he just needs to answer the questions whether:

1. he knows the transaction ID
2. Did he find the transaction Id when he search for it on the block explorer
3. If he finds it then what is the sat/vb of the transaction (transaction fee)
4. If he did not find it and the search turned invalid then the transaction was probably dropped
5. If the transaction is dropped, he has two options:
a. ask the sender to rebroadcast the transaction and ask to use a higher fee
b. he can use CPFP with a high enough transaction fee to be confirmed by the network.

Velemir Sava

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Always. BTC is still worth investing in and Good investment. For now, if you want to make transactions, especially BTC, you should hold it first or if you have BTC in your wallet, it's better to swab/convert to USDT first and then send it. This is one of the efforts to minimize the risk of pending transactions and greater gas consumption.

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Without adequate information, it becomes challenging to verify the current status of your transaction. To do so, you would need to provide either the transaction hash or your address. However, sharing these details could compromise your privacy. As others have previously suggested, you should consult a live block explorer to verify the transaction. Be cautious of any potential attempts to deceive you and ensure that the transactions are legitimate. If the transaction is still pending, it may receive confirmation soon. The sender should possess a transaction hash that you can use to check, or alternatively, you can review your address for transaction history

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Quote from: platinumsteel2016 on May 18, 2023, 06:48:30 PM

Recently I received some btc that took about 4 days, there is another transfer that was made May 7th, I have not gotten it yet!

How can I find out the status / when I will receive it??!? I was told that the "slowdown" is due to

higher transfer fees. Will these fees ever lower, and are BTC worth the investment still??!? (Layman Terms Please).

You can used one of these explorers: List of useful Bitcoin block explorers.

Yes, the slowdown is due to the recent BRC-20 activity on the mempool that is clogging the network.

Look at this site: https://mempool.space/ to know how much sat/vB you have to pay in order for you transaction to be prioritized by miners.

BTC is still worth a investment, no question about that.

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Quote from: Lida93 on May 19, 2023, 07:38:23 AM

Quote from: platinumsteel2016 on May 18, 2023, 06:48:30 PM

Recently I received some btc that took about 4 days, there is another transfer that was made May 7th, I have not gotten it yet!

How can I find out the status / when I will receive it??!? I was told that the "slowdown" is due to

higher transfer fees. Will these fees ever lower, and are BTC worth the investment still??!? (Layman Terms Please).

Since May 7th! Are you sure the sender actually did the transaction as claimed? Some people can be funny sometimes. To be sure demand for the transaction ID and then head to mempool to check for the transaction.

It is also possible that the transaction was dropped so the sender needs to rebroadcast the transaction. So if @OP check the transaction ID and turned invalid, it is possible that the transaction was dropped. He should ask the sender to rebroadcast the transaction with a higher fee making miners include the transaction on their mined block.

Quote from: Lida93 on May 19, 2023, 07:38:23 AM

Early this year I made a transaction that wasn't received for over 48hrs due to how very low the fee was and based on persistent disturbance from the receiver I had to resend same transaction but this time with a higher fee. So OP you should insist on the sender to resend it again with a better fee rate.
You can also make use of this post for easier support. All about "stuck" transactions and what you can do to fix them
https://bitcointalksearch.org/topic/m.17954548

Low fees tend to be dropped and ignored by miners, so @OP could have the same case, and indeed he needs to pester the sender to rebroadcast the transaction so that he can receive the sent coins.

Quote from: Z-tight on May 19, 2023, 07:56:44 AM

Quote from: ?? on ??

In some wallets you can just reset it and it will return to you

You can't "just reset" your wallet and your funds would return to you, you can't cancel a BTC transaction once it has been made, though for the period it is unconfirmed you can 'cancel' it by double spending the input you want to send, creating a new transaction with the same input and higher fees, with your own address as the recipient.

In this case OP is the receiver, so they can only use CPFP to hasten the transaction confirmation, or submit the transaction ID to transaction accelerators like ViaBTC, and hope the mining pool adds their transaction in the next blocks they are going to mine.

True, we can not just reset our wallet to make the fund return to us unless we double spend it before the transaction is dropped, and if the transaction is dropped, the sender cannot use the sent Bitcoin while the receiver cannot receive them since the bitcoin sent is considered not valid. The sender can use RBF and the receiver can use CPFP with a higher fee to rebroadcast the transaction and get confirmed.

Z-tight

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Quote from: ?? on ??

In some wallets you can just reset it and it will return to you

You can't "just reset" your wallet and your funds would return to you, you can't cancel a BTC transaction once it has been made, though for the period it is unconfirmed you can 'cancel' it by double spending the input you want to send, creating a new transaction with the same input and higher fees, with your own address as the recipient.

In this case OP is the receiver, so they can only use CPFP to hasten the transaction confirmation, or submit the transaction ID to transaction accelerators like ViaBTC, and hope the mining pool adds their transaction in the next blocks they are going to mine.

Lida93

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Quote from: platinumsteel2016 on May 18, 2023, 06:48:30 PM

Recently I received some btc that took about 4 days, there is another transfer that was made May 7th, I have not gotten it yet!

How can I find out the status / when I will receive it??!? I was told that the "slowdown" is due to

higher transfer fees. Will these fees ever lower, and are BTC worth the investment still??!? (Layman Terms Please).

Since May 7th! Are you sure the sender actually did the transaction as claimed? Some people can be funny sometimes. To be sure demand for the transaction ID and then head to mempool to check for the transaction.

Early this year I made a transaction that wasn't received for over 48hrs due to how very low the fee was and based on persistent disturbance from the receiver I had to resend same transaction but this time with a higher fee. So OP you should insist on the sender to resend it again with a better fee rate.
You can also make use of this post for easier support. All about "stuck" transactions and what you can do to fix them
https://bitcointalksearch.org/topic/m.17954548

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Quote from: platinumsteel2016 on May 18, 2023, 06:48:30 PM

Recently I received some btc that took about 4 days, there is another transfer that was made May 7th, I have not gotten it yet!

How can I find out the status / when I will receive it??!? I was told that the "slowdown" is due to

higher transfer fees. Will these fees ever lower, and are BTC worth the investment still??!? (Layman Terms Please).

Without seeing the state of the network, we cannot say that these fees are sufficient, and your transaction will be confirmed soon or it will take a long time.
You can see the best estimate of the network using this site https://mempool.space/.
It is better to use a well-programmed wallet that helps you estimate fees better, or at least the possibility of adjusting fees manually.

Using of bc1 addresses will reduce the fees you will pay.

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Quote from: platinumsteel2016 on May 18, 2023, 06:48:30 PM

Recently I received some btc that took about 4 days, there is another transfer that was made May 7th, I have not gotten it yet!

How can I find out the status / when I will receive it??!? I was told that the "slowdown" is due to

higher transfer fees. Will these fees ever lower, and are BTC worth the investment still??!? (Layman Terms Please).

First of all let me ask you that who are the one(s) performing that transaction to you, do you know them or trust them they are really doing or have done that?

Secondly, if it's true that the transaction was made, they should send you the transaction id (trxid) then you track it on mempool.space/ to see the progress

You can also pump the transaction fee to make it faster considering of the RBF features was enabled, ensure you don't have a deal of anything in exchange for them performing this if not until you confirm the transaction into your account and don't share any of your vital informations with them.

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You can also look at mempool.space
If you search by txid it will give you a general idea of where that TX is in the blockchain.
Picking a random one: https://mempool.space/tx/809ba37e88fb52745fc3402268fd50592712dde5574a14fc76ad35e89825b735

You can see that of of now it's about 5 blocks away, but since the fee is only about 18 sat / vb it's going to keep getting pushed back as more TX come in.

Or there could be a bunch of new blocks coming in quickly and it does get mined soon.
Or a flood of transactions could be made and it gets pushed back hours.

-Dave

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It is certain that fees have already decreased and are likely to decrease even more soon. This is not the first time that such network congestion, delays and high fees have occurred, so you do not have to worry that everything will return to normal soon.

As for your other question, of course, Bitcoin is still worth investing more than before, these minor problems will be resolved soon and will not affect the future of Bitcoin in any way, people are still buying Bitcoin and holding it in anticipation of the big rise.

Plaguedeath

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I think you should have receive your BTC at 2 days ago where mempool was empty [1] maybe there's a problem or something else make you didn't receive your coins. There's no way to know how long your transactions would be confirmed because it depends on the mempool, right now the fees is quite higher.

Bitcoin fees will decrease as long as the volume transactions are low.

[1] https://jochen-hoenicke.de/queue/#BTC,2w,weight

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Quote from: platinumsteel2016 on May 18, 2023, 06:48:30 PM

Recently I received some btc that took about 4 days, there is another transfer that was made May 7th, I have not gotten it yet!

You should read the news and specially the posts in this forum to better understand that why there is delay on network. I will simplify it for you by saying just because of BRC-20 protocol and its ordinals thing has caused the congestion of the network with its useless token Pepe and that created much burden on the blockchain and is the cause of huge fees and delays in transactions.

Quote

How can I find out the status / when I will receive it??!? I was told that the "slowdown" is due to

Like other reputed members of the forum suggested you can use a good block explorer to get an estimation about the time when you will receive the payment. The estimation might not be exact but still you will get some info that might be helpful to reduce your stress. You should use Blockchair to get the estimated time of your transaction as that one is the most recommended one because of its features.

Quote

higher transfer fees. Will these fees ever lower, and are BTC worth the investment still??!? (Layman Terms Please).

In layman terms yes the fees will be lower and the BTC is still worth the investment. The hype created by the ordinals won't be staying for a long time. And, it is expected that within few weeks the transaction speeds will be faster and the fees will be reduced just the way they were before the introduction of that useless token.

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Quote from: platinumsteel2016 on May 18, 2023, 06:48:30 PM

and are BTC worth the investment still??!? (Layman Terms Please).

I guess you're concerned that people will still use this network if they need to pay ridiculous fees to make transactions. I'd say no since the network is definitely the most secure compared to other networks. Even if what you're afraid of comes true, people who value security and those who hold lots of BTC will keep making transactions as usual.

Sure, those who want to transact in lower values might not find BTC attractive, but the market is not limited to them. In fact, this is not the first time this happened to the network. The fact that the number of transactions keeps increasing should tell you that the demand has increased instead of decreased. I doubt those who spam the network to mint tokens also want high fees either. Either they'll move on or they'll just build something to reduce the fee to print their speculative assets.

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Quote from: platinumsteel2016 on May 18, 2023, 06:48:30 PM

How can I find out the status / when I will receive it??!? I was told that the "slowdown" is due to

higher transfer fees.

Go to your favorite block explorer (try blockchair) and enter in the transaction ID.

Quote from: platinumsteel2016 on May 18, 2023, 06:48:30 PM

Will these fees ever lower

I don't think so, at least on the 'main' network. For lower fees, layer-2s will be the solution. Unfortunately they're not that ready yet.

Quote from: platinumsteel2016 on May 18, 2023, 06:48:30 PM

and are BTC worth the investment still??!? (Layman Terms Please).

The transaction fees isn't really the identifying factor for bitcoin being a good investment or not.

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Quote from: Nwada001 on May 18, 2023, 07:24:51 PM

Use Blockchair Insert your address or transaction hash to use and trace your transaction. There will be an estimated block confirmation time and your number on the waiting list. The time might not be accurate; it all depends on how fast the transaction will be after that time.

OP can use blockchair.com explorer to check his pending transaction. That explorer has Priority information for pending transactions. The priority of a transaction will change with mempool changes.

OP can check more details with that transaction fee rate and fee rates of pending transactions in Mempool.
https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,weight

Looks like Ordinals and BRC20 token hype was heated up again in last 24 hours.

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Quote from: platinumsteel2016 on May 18, 2023, 06:48:30 PM

How can I find out the status / when I will receive it??!? I was told that the "slowdown" is due to

Use Blockchair Insert your address or transaction hash to use and trace your transaction. There will be an estimated block confirmation time and your number on the waiting list. The time might not be accurate; it all depends on how fast the transaction will be after that time.

Quote

higher transfer fees. Will these fees ever lower, and are BTC worth the investment still??!? (Layman Terms Please).

Yes, I hope and believe the transaction fee will later be reduced, for it's already far better than it was a week ago, so it's just a matter of time before we can completely start experiencing the same old fee price.

Yes, Bitcoin is still worth investing in; it all depends on what you see in an asset before you choose it as an investment option. A high transaction fee should not be a hindrance to your decision concerning whether to invest in Bitcoin or not.

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Recently I received some btc that took about 4 days, there is another transfer that was made May 7th, I have not gotten it yet!

How can I find out the status / when I will receive it??!? I was told that the "slowdown" is due to

higher transfer fees. Will these fees ever lower, and are BTC worth the investment still??!? (Layman Terms Please).

Topic: Clarification Please (Read 238 times)