Confirmation became really fast, what has happened? - page 4.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: Prodigan786 on July 03, 2017, 04:19:40 AM

It's because of spammers stops spamming like bitmain and others for increasing the transaction fees . It will be more regulated after august first am waiting day to see the huge changes

Regulated? What will happen on August the 1st? We will elect the goverment of Bitcoin?

I don't buy the spam attack scenario.
The number of transactions died in the mempool but I would really want to see graph showing the average number of inputs and outputs per block in the last month.
A lot of services changed their behavior, not sending individual payments anymore and saving a lot of space in the blocks.
And a lot of users simply stopped sending tx. There was no point anymore sending 10$ worth when you pay 2$ fee.
So they just waited for the sum to grow bigger and do 1 instead of 4.

Prodigan786

sr. member

Activity: 434

Merit: 250

It's because of spammers stops spamming like bitmain and others for increasing the transaction fees . It will be more regulated after august first am waiting day to see the huge changes

DoublerHunter

hero member

Activity: 2590

Merit: 644

I just read some news about bitcoin and i read that it is about implementing the beta version of the code for the upcoming fork and i think that is the reason why most of the confirmations now are faster than before and it is a sign that the fork in august 1 will become a very good addition for bitcoin transaction and also confirmation speed.

ImHash

hero member

Activity: 924

Merit: 506

Just less than 3 month ago we were paying 120 sats/b and still we used to complain about how high the fees were, I'd say Wu succeeded in his plans, I only blame him because Antpool is the largest of all the pools, so whatever happens I blame them. they have made people to be surprised when their transaction gets confirmed after paying more than 120 sats/b.

niisarearning

sr. member

Activity: 910

Merit: 252

Even i felt the same i got some transaction got confirmed its about 5k sathoshi it is very small amount but it is also got confirmed very quickly .But last 2 months my micro transaction taking days or cancelling payment now its really quick.

Quietman

sr. member

Activity: 292

Merit: 250

Quote from: bitart on July 02, 2017, 08:42:09 AM

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...)

This is quite an improvement with bitcoin. Maybe the fees have something to do with it too. That's a huge fee I guess for 0.05BTC. If you are going to convert it into cash. Let's wait on what will happen until August come. Hoping for the better for bitcoin.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

The spamming did stop. I sent some Bitcoins today with a regular .0001 fee and it confirmed in less than an hour.

Maybe there was an agreement taking place from behind the scenes between the big shots of Bitcoin? Another surprising event is happening. MASF Segwit is gaining more support.

https://blockchain.info/charts/bip-9-segwit

Lordas

member

Activity: 142

Merit: 10

Pay attention to last blocks how many transactions they include - just 400, 500, or 1000 and block sizes 200-700 kB only. Miners intentionally including only expensive transactions this way making artificial deficit and forcing ppl use higher transaction fees. They ruining all ecosystem they get profit from...

szpalata

sr. member

Activity: 686

Merit: 253

Quote from: mmhaimhai on July 03, 2017, 01:01:45 AM

I have also noticed that on my past transactions..and im happy that it happened because its realky a hassle when confirmations on blockchain took almost 3hrs before. Hope transaction fees on my chosen btc wallet get lower together with this.

Well we are hoping for the best in the Bitcoin world especially now that August 1 is fast approaching, we are hopeful majority of our problems could be resolved by their prescribed solution on the day so that we can enjoy lower fees with quicker confirmations than it is now.

mmhaimhai

sr. member

Activity: 532

Merit: 257

A BLOCKCHAIN SOLUTION TO DISRUPT TRADE FINANCE

I have also noticed that on my past transactions..and im happy that it happened because its realky a hassle when confirmations on blockchain took almost 3hrs before. Hope transaction fees on my chosen btc wallet get lower together with this.

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

The funds that were used to spam the network are now being used to organize events and to pay developers to work on the new "solution" or the funds simply ran out. The more people bitch about this, the quicker it will be back with us again, so it is better to leave the sleeping dogs. right? I hope some day, someone would have the balls to admit that it was them who spammed the network for whatever reason. ^grrrrrrrr^

shine1123

sr. member

Activity: 490

Merit: 250

🤖UBEX.COM 🤖

Quote from: bitart on July 02, 2017, 08:42:09 AM

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...)

Your fee is quite big actually, 0.0034. Are you sure is it 0.0034 or 0.00034, because 0.003 it's very big fee for a transaction imo. I usually use the fee maximum is 0.00034 and it can get confirmed fast, maybe around 10minutes-30minutes.

costina

full member

Activity: 120

Merit: 100

That's good why you asking about that? Cheesy

The more faster appeared, the more happier we have! So that, just keep doing our work and we can happy with a long time ^^

haroldtee

sr. member

Activity: 644

Merit: 299

Quote from: erikalui on July 02, 2017, 05:24:45 PM

I noticed it too. My transactions took 5 minutes to receive 4 confirmations each. Both had a fee of 300-400 sats and I was shocked to see 3-4 confirmations within 5 minutes. May be today there are way less transactions compared to other days. Below 9000 unconfirmed transactions: https://blockchain.info/unconfirmed-transactions

Oh OK! Now this is getting interesting.I wonder if this has anything to do with the present scaling option if it is being gradually implemented unknowingly or maybe the transactions have gotten lower or what could it be?

ladydark

hero member

Activity: 686

Merit: 500

Quote from: bitart on July 02, 2017, 08:42:09 AM

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...)

The same thing happened to me also.I sent 0.02 btc from my electrum wallet to my localbitcoins account.usually i used to set 0.0007 btc for faster transaction.But this time,i set only 0.0005 btc as transaction fee.But surprisingly,the transaction was confirmed within twenty minutes.Thats really great.

RoommateAgreement

hero member

Activity: 770

Merit: 500

Bazinga!

Quote from: imutlinda on July 02, 2017, 10:51:01 PM

Indeed lately bitcoin transactions became a little faster. Probably due to the reduced number of people who transaction using bitcoin and prefer transaction using altcoin.

but where do they "transact" these altcoins? from their wallet to exchange and vice versa?
because there is no other altcoin usage. there are some very rare cases, such as gambling sites and some tiny online shops with nearly no customers that accept some of the altcoins such as Dogecoin and Litecoin but that never contributes to any transactions.

for bitcoin apart from people sending from wallt to exchange and vice versa there is always a lot of other usages for purchasing a lot of goods from the internet, digital or physical.

imutlinda

sr. member

Activity: 926

Merit: 256

Indeed lately bitcoin transactions became a little faster. Probably due to the reduced number of people who transaction using bitcoin and prefer transaction using altcoin.

iamTom123

hero member

Activity: 490

Merit: 501

Well, I am quite elated to be reading your post. Though you might just be lucky this time, this is something we are all looking forward to especially after the August One deadline. It is really about time that Bitcoin can be free from the shackles that are putting some cap to its present growth. Bitcoin is meant to be fast, efficient and cheap as opposed to the traditional methods of transferring funds. It is what Bitcoin is for, right?

Right now, the whole market is watching what can happened prior, during and after August One. This can hopefully make or break Bitcoin but as one of the many small Bitcoin stakeholders we are wishing that things can really get better and not worse.

noictib

hero member

Activity: 966

Merit: 515

One of the world's leading Bitcoin-powered casinos

Quote from: bitart on July 02, 2017, 08:42:09 AM

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...)

Actually confirmation doesn't depend upon the single factor , but many things are associated with this that we never take into consideration .
First thing is the output and input which will decide that how much you need to pay the fee for the transaction ( which is very high in your case but still 159sat/byte is miracle for the confirmation in 15 minutes ) .
But here you should see that the timing when you made this transaction , currently the market of the Bitcoin is about at stable rate and is not going for the bulk transactions (.that happened in the increase price due to bulk transaction ) ,in this thing a type of competition arise in the market to get confirm first when your bid price to confirm is high , but as currently no competition in the market to confirmation the transaction , so even at low fee you get success to get confirm in small time .

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: kimmy724 on July 02, 2017, 09:53:23 PM

What could be behind the faster confirmation ? May be miners upgraded their ASICS or the fork is taking to an effect , these are just my speculations.

if you read a couple of previous comments you can see the reason.
also bitcoin doesn't work like that, even if you upgrade ASICs or add thousands more nothing about confirmation changes on average. the difficult will adjust and block time and as a result number of them in the same period will stay the same.

Topic: Confirmation became really fast, what has happened? - page 4. (Read 2983 times)