Topic: Confirmation became really fast, what has happened? (Read 2927 times)
It looks like you are in luck because the transaction you are doing is in a very fast block some time ago. I see there are about 3-4 blocks that are solved in a short time of about 8 minutes. Maybe the speed of the block is due to bitmain stopping its production so this can speed up the completion of some blocks. This is just my opinion, maybe from other friends, there are different opinions related to this topic.
Those who decide to invest but are very much afraid that it is better not to start This business because those who are very afraid basically lose everything.
That isn't a very low fee for the transaction you did mate. Moreover it is possible there may be no much congestion when you made the transaction, hence the reason why it was quite fast but all the same 0.0034 isn't a small transaction fees,Mass adoption right now might lead to more crowding (higher fees, slower confirmations), I think they should SOLVE the scaling problem(s) ASAP and maybe find a way to STOP the spammers.
I think you just get lucky in sending being the first or near the first transaction in the block that you got in so you got faster transactions,fees is a fact also if you raise the fees maybe an factor too
Nowdays I've got used to the fact that bitcoin transactions were just hanging in the mempool for quite a long time, but today I just realized that something has happened.
I've started a transaction of 0,05 BTC (not a huge amount) with the possible lowest (and slowest) low-prio fee, and I thought that it will take days to get confirmed (or at least one day). The fee was about 0,0034... BTC (159 sat/byte).
In an hour (or less), it was confirmed, the first 4 confirmation was done in 15 minutes. I was totally surprised. I've checked the mempool later on, it has been settled, it seems. These are the first few weeks since the beginning of May when the mempool isn't full.
I don't know what has happened, but it seems promising. (Or not, if it's in connection with the August 1st deadline, but who knows... I don't, but if anybody knows, please help me to understand what is going on behing the scenes...)
I've started a transaction of 0,05 BTC (not a huge amount) with the possible lowest (and slowest) low-prio fee, and I thought that it will take days to get confirmed (or at least one day). The fee was about 0,0034... BTC (159 sat/byte).
In an hour (or less), it was confirmed, the first 4 confirmation was done in 15 minutes. I was totally surprised. I've checked the mempool later on, it has been settled, it seems. These are the first few weeks since the beginning of May when the mempool isn't full.
I don't know what has happened, but it seems promising. (Or not, if it's in connection with the August 1st deadline, but who knows... I don't, but if anybody knows, please help me to understand what is going on behing the scenes...)
That isn't a very low fee for the transaction you did mate. Moreover it is possible there may be no much congestion when you made the transaction, hence the reason why it was quite fast but all the same 0.0034 isn't a small transaction fees.
I haven't done any transaction for a while so I can't say that the confirmation time has become faster. But from what I understand, its about a few weeks ago that the network spammer has suddenly stop causing the network to unclogged as a result we experience the faster confirmation time now. And I can only speculate that maybe the network spammer thought that's is not worth to really do damaged as he/they can't really hold people getting into bitcoin.
I just made a transaction a few hours ago to test the confirmation time again and it is faster than before. I think this is a good sign for bitcoin that its fork will have a higher chance to become a successful move of the developers, just imagine that the transactions now are faster then how much more if the fork is already done. 
I haven't done any transaction for a while so I can't say that the confirmation time has become faster. But from what I understand, its about a few weeks ago that the network spammer has suddenly stop causing the network to unclogged as a result we experience the faster confirmation time now. And I can only speculate that maybe the network spammer thought that's is not worth to really do damaged as he/they can't really hold people getting into bitcoin.
I dont think so that you choose the smallest transaction fee in there i see that this is still expensive for a small amount of bitcoin and you pay 0.003 thats around 6$ to 7$ in 1 small transaction maybe you wrong choose the fastest transaction only know it
So what is the real reason behind faster confirmation with reduced speed,do not tell that it is because of lower transactions because it is still 256,940 transaction in the last 24 hours,just curious to know the real reason behind the sudden smooth transactions which i was looking for months
This is what I would like to find out myself
And I'm eagerly waiting for the dudes like the_one to come up with a plausible explanation of this phenomenon. As to me, there can be only one reasonable explanation provided that the number of transactions didn't really diminish (which is what seems to be the case). And this explanation boils down to miners all of a sudden (or not so all of a sudden) starting to confirm transactions as they should have been doing all this time. Why they hadn't been doing their job properly before seems to be self-evident (obviously, they were looking for higher fees), but it is still not clear what exactly made them change their mind now, i.e. what their reasoning today is
Any evidence that the recent congestion has been due to spam attacks? Big blockers want big blocks in order to be able to have transactions confirmed in the next block with low fees... Spamming the network would be making sure they don't get exactly what they want. Sounds counterproductive.
No evidences, just FUD.
The mounting evidences over 2 months of high fees, based on the numerous complaints here and reddit, it is perfectly possible that users are no longer making transactions or only making fewer transactions than normal. This would lead to reduced mempool.
But there are no evidences that it was not caused by spam either. There were also some Bitcoin contributors who have said that there are some people spamming the network. This address, whoever owns it, is clearly trying to flood the mempool.
https://blockchain.info/address/3QQB6AWxaga6wTs6Xwq8FYppgrGinGu15f
If that is not spam, then what is it?
Spammers have started to leave from the network since it has become clear that segwit is to be activated.These much days,they had been spamming the network by spam transactions which made more transactions to stuck and miners made use of this situation and confirmed transactions which had high fee.But now,we could expect that transaction fee would become very low as it was earlier.
So what is the real reason behind faster confirmation with reduced speed,do not tell that it is because of lower transactions because it is still 256,940 transaction in the last 24 hours,just curious to know the real reason behind the sudden smooth transactions which i was looking for months.
There is no reason, There is less transaction in the Bitcoin network that makes the network will be running for smoothly as far as i know. But looks the bitcoin21fees already given the wrong result about the fees. or I don't think that you can try to pay your transaction with 10k satoshi and it got placed on first 10 blocks of bitcoin. But this time there is a lot of transaction gets stuck in the network or already there an upgrade with the bitcoin network.
Waiting for the more news about that.
So what is the real reason behind faster confirmation with reduced speed,do not tell that it is because of lower transactions because it is still 256,940 transaction in the last 24 hours,just curious to know the real reason behind the sudden smooth transactions which i was looking for months.
OK then, now I'm totally confused 
I've started the transaction from a mobile wallet. I have chosen the lowest priority from the drop down list, with the lowest fee possible.
It seems that the lowest fee is still above the average, and that mobile wallet has no option to input any fee, just has the possibility to choose the priority (and the matching pre-calculated fee).
It's high time to change the mobile wallet, I guess, as you all tell me that that fee was way too high for this amount...
I've understood that priority doesn't determine the fee, so I need a wallet where I can input a really low fee and send the transaction to an accelerator.
I've started the transaction from a mobile wallet. I have chosen the lowest priority from the drop down list, with the lowest fee possible.
It seems that the lowest fee is still above the average, and that mobile wallet has no option to input any fee, just has the possibility to choose the priority (and the matching pre-calculated fee).
It's high time to change the mobile wallet, I guess, as you all tell me that that fee was way too high for this amount...
I've understood that priority doesn't determine the fee, so I need a wallet where I can input a really low fee and send the transaction to an accelerator.
Your fee is just 159sat/byte, I say that is lower than the fees in the previous months where it the fee is above 200 sat/byte. It reached 0.0034 maybe because you have multiple dust inputs.
What wallet are you using?
I think I start to understand this whole fee/priority thing (I have read a lot about it today.)
It seems that despite of the low priority, if I include many inputs to my transaction, it becomes so large (in kbytes) that it determines the higher fee. If it was only a single input single output transaction, the fee wouldn't raise above the average.
If it's true, it makes sense for me.
It seems to me that confirmation became really fast just all of a sudden starting yesterday and transactions can get through within just 25 mins to 3 hours at most using the recommended fee of 10k satoshi. Also, the suggested fees per bytes has been adjusted at bitcoinfees.21.co, so therefore I conclude that the number of transactions blockchain is handling in the past 336 hours is getting lesser and huge number of transactions might just be caused by a spam.
It seems that there is some improvements for the current blockchain that we have and that makes the transactions faster than before. The fees that i paid a few weeks ago got lower even just a bit and it is a big deal for me because i can now pay lower fees with a faster transaction that will help me to save time and money without having any problem with confirmation.
It seems to me that confirmation became really fast just all of a sudden starting yesterday and transactions can get through within just 25 mins to 3 hours at most using the recommended fee of 10k satoshi. Also, the suggested fees per bytes has been adjusted at bitcoinfees.21.co, so therefore I conclude that the number of transactions blockchain is handling in the past 336 hours is getting lesser and huge number of transactions might just be caused by a spam.
Any evidence that the recent congestion has been due to spam attacks? Big blockers want big blocks in order to be able to have transactions confirmed in the next block with low fees... Spamming the network would be making sure they don't get exactly what they want. Sounds counterproductive.
No evidences, just FUD.
The mounting evidences over 2 months of high fees, based on the numerous complaints here and reddit, it is perfectly possible that users are no longer making transactions or only making fewer transactions than normal. This would lead to reduced mempool.
Simple: Bitmain and Roger Ver have stopped spamming the network. If you look at the mempool graph it was clear it was just another attack by the big blockers to bitch and moan about high fees and confirmation times.
Just wait for the hardfork drums to start making noise again, they will turn their spam machines again to try to force support for their altcoin.
Just wait for the hardfork drums to start making noise again, they will turn their spam machines again to try to force support for their altcoin.
For crying out loud, change the bloody record will you. Prove that they were spamming the network or shut up spreading FUD.
Is the network finally being decongested, hence resulting in faster confirmations or it just so happened that it was an off peak hour at the time you made your transaction? Whatever it was, I hope this is the start of faster confirmations and lower fees moving forward and let's keep our fingers crossed and hope that this will be the norm.
Even it's not off peak hours my transaction still got confirmed in the next block with 10k+ sat, the transaction fees becoming lower , blockchain.info had 1 hour transaction fee which is 5k sat saw some transaction got through with 5k transaction feeFor those transferring from wallets that do not have fix fees, they can enjoy this moment of low fees. But those exchanges that adjusted their fix fees because of the spam attack the last few months, they have not adjusted their fees yet to reflect this. So the fee is still very high for some exchanges even if there is now low unconfirmed transactions.
Lol, even you can use very little FEE, I believe you will get confirmation also faster, look at this
https://blockchain.info/unconfirmed-transactions
I also have not seen spammer transactions in the network since a few months ago, I think it's really cool if bitcoin transactions get better
https://blockchain.info/unconfirmed-transactions
I also have not seen spammer transactions in the network since a few months ago, I think it's really cool if bitcoin transactions get better
Jump to: