Is there any possible way that BTC can achieve the transaction speeds needed to become the primary currency of a major country at least?
I am not an expert at all but from what I am gathering here SegWit is only a temporary solution and more block size expansion would be needed in the future
Topic: More than 50,000 unconfirmed transactions - page 8. (Read 16770 times)
Adjust your fees and your transactions will sail through. 
This is a problem that must be quickly solved, the network has been chaos for days. Medium priority transactions take 5-6 hours to confirm. At least it's an easy thing to solve, the tricky thing is getting acceptance for solution. Decentralization is like this. 
Medium priority is really arbitrary. Talk in Satoshis per byte so people know what exactly you're referring to on any given day.
I'm finding that the fees are just where they have been lately so if you cheap out (20 Satoshis/byte) you'll be waiting hours.
This is a problem that must be quickly solved, the network has been chaos for days. Medium priority transactions take 5-6 hours to confirm. At least it's an easy thing to solve, the tricky thing is getting acceptance for solution. Decentralization is like this.
More unconfirmed transactions are good - more transactions = growth. It is growing pains, that is a good thing, not a bad thing.
BTC will be worth a lot more in the future IMHO. The block size issue will be solved.
BTC will be worth a lot more in the future IMHO. The block size issue will be solved.
This is not good, it frustrates new users getting into BTC, just imagine you are pitched that you will get 10mins confirmation for a service and its end up lasting 24hrs, you are going to be frustrating. I just hope the block size issue will be resolved soon
Basically, every people want to join with the bitcoin must understand about how the system of bitcoin is work. at least they might have a little knowledge about it. Because the bitcoin network can't guarantee everybody to get the faster transaction.
It was 57k unconfirmed transactions about 15 mins back and I thought it was getting better since everyone is posting about it being over 70k. Now, it is going back up. Crossed 60k unconfirmed transactions. Ive been waiting for about 18 hrs for my transaction to get confirmed. Hoping that happens in a couple of hours. It really sucks that it is taking soo long. Hopefully this will pass soon.
Usually if people pay 0.0005 BTC fees then it confirms within the next 3 three blocks, but I wonder that if everyone starts paying 0.0005 then even that would be less and maybe 0.005 would be new standard. Really not sure why this is happening and I hope this is temporary.It's just some sort of a spam attack against the network, which isn't anything new since it happens once in a while. And yes, it's just temporary since it would be too costly for the entity behind this attack to continue doing this for weeks in a row. Sad thing is that they don't care about Bitcoin as the only people suffering right now are the users itself, and not the people they really want to target. Good thing is that the mempool seems to be going back to pre spam attack levels.
It's about time too, since Segwit isn't going to be implemented soon with only around 25%.
Why can't they just implement bigger blocks already?
A spam attack on the network would not be cheap so I could agree that if someone is launching such an attack then it is most likely being perpetrated by some group that does actually care about bitcoin and as you say trying to bring attention to a problem that needs to be addresses asap.
More people making use of Bitcoin brings in a relative gradual increase in the transaction volumes, but that's not the case here. It was a real spam attack. https://blockchain.info/charts/mempool-size?timespan=1year
If you purely focus on the peaks, then it's quite obvious that it's just an ordinary spam attack. Just have a look at the mempool chart. You'll see where spam attacks are obviously visible in comparison to normal/legit transaction peaks due to high usage. The purpose of such an attack could indeed be to show that we need larger blocks asap, but I personally think it's coming from the fork sides (e.g. XT, Unlimited) to piss off people.
More unconfirmed transactions are good - more transactions = growth. It is growing pains, that is a good thing, not a bad thing.
BTC will be worth a lot more in the future IMHO. The block size issue will be solved.
But sudden increase in transactions does not indicate that its spreading because if this was due to population growing in btc then the growth would have been constant and slow. But anyways the miners are the happy people now a days I guess BTC will be worth a lot more in the future IMHO. The block size issue will be solved.
I must agree to that as well.
A sudden increase of transactions in the extent as we have seen it during the past days indicates something else than a natural growth.
Most likely it was some spam effort, and I can not see much good in that. In fact it was the first time one of my transactions got delayed.
I do not see any good in that.
More unconfirmed transactions are good - more transactions = growth. It is growing pains, that is a good thing, not a bad thing.
BTC will be worth a lot more in the future IMHO. The block size issue will be solved.
But sudden increase in transactions does not indicate that its spreading because if this was due to population growing in btc then the growth would have been constant and slow. But anyways the miners are the happy people now a days I guess BTC will be worth a lot more in the future IMHO. The block size issue will be solved.
More unconfirmed transactions are good - more transactions = growth. It is growing pains, that is a good thing, not a bad thing.
BTC will be worth a lot more in the future IMHO. The block size issue will be solved.
BTC will be worth a lot more in the future IMHO. The block size issue will be solved.
This is not good, it frustrates new users getting into BTC, just imagine you are pitched that you will get 10mins confirmation for a service and its end up lasting 24hrs, you are going to be frustrating. I just hope the block size issue will be resolved soon
if we don't lie to them, telling it is free to send bitcoin, and things like that they will never have any problems. and besides new people work with new tools, and all the wallets that i have seen have upgraded their system, suggesting new fees that are more compatible with that time current network state so i seriously doubt that any new members are going to have any problem with their transactions taking up to 24 hours.
it is the old users who change the suggested fee to lower amount instead and end up waiting.
More unconfirmed transactions are good - more transactions = growth. It is growing pains, that is a good thing, not a bad thing.
BTC will be worth a lot more in the future IMHO. The block size issue will be solved.
BTC will be worth a lot more in the future IMHO. The block size issue will be solved.
This is not good, it frustrates new users getting into BTC, just imagine you are pitched that you will get 10mins confirmation for a service and its end up lasting 24hrs, you are going to be frustrating. I just hope the block size issue will be resolved soon
It was 57k unconfirmed transactions about 15 mins back and I thought it was getting better since everyone is posting about it being over 70k. Now, it is going back up. Crossed 60k unconfirmed transactions. Ive been waiting for about 18 hrs for my transaction to get confirmed. Hoping that happens in a couple of hours. It really sucks that it is taking soo long. Hopefully this will pass soon.
Usually if people pay 0.0005 BTC fees then it confirms within the next 3 three blocks, but I wonder that if everyone starts paying 0.0005 then even that would be less and maybe 0.005 would be new standard. Really not sure why this is happening and I hope this is temporary.It's just some sort of a spam attack against the network, which isn't anything new since it happens once in a while. And yes, it's just temporary since it would be too costly for the entity behind this attack to continue doing this for weeks in a row. Sad thing is that they don't care about Bitcoin as the only people suffering right now are the users itself, and not the people they really want to target. Good thing is that the mempool seems to be going back to pre spam attack levels.
It's about time too, since Segwit isn't going to be implemented soon with only around 25%.
Why can't they just implement bigger blocks already?
A spam attack on the network would not be cheap so I could agree that if someone is launching such an attack then it is most likely being perpetrated by some group that does actually care about bitcoin and as you say trying to bring attention to a problem that needs to be addresses asap.
it has always been both. but mostly spam attacks.
obviously bitcoin has grown bigger in the past few years and now we have much more users sending lots more transaction. but there is no way the number of transactions are 70K as it was in most of the clogs. sometimes the number grows naturally because it is a time people are making more transactions such as when price is going up and down crazily! or when there are a couple of empty blocks but these will never lead to that big number of unconfirmed transactions.
besides blockchain being public, you can always find the spam attacks if you look for them: https://bitcointalksearch.org/topic/is-this-one-of-the-so-called-spam-attacks-1764209
It was 57k unconfirmed transactions about 15 mins back and I thought it was getting better since everyone is posting about it being over 70k. Now, it is going back up. Crossed 60k unconfirmed transactions. Ive been waiting for about 18 hrs for my transaction to get confirmed. Hoping that happens in a couple of hours. It really sucks that it is taking soo long. Hopefully this will pass soon.
Usually if people pay 0.0005 BTC fees then it confirms within the next 3 three blocks, but I wonder that if everyone starts paying 0.0005 then even that would be less and maybe 0.005 would be new standard. Really not sure why this is happening and I hope this is temporary.It's just some sort of a spam attack against the network, which isn't anything new since it happens once in a while. And yes, it's just temporary since it would be too costly for the entity behind this attack to continue doing this for weeks in a row. Sad thing is that they don't care about Bitcoin as the only people suffering right now are the users itself, and not the people they really want to target. Good thing is that the mempool seems to be going back to pre spam attack levels.
It's about time too, since Segwit isn't going to be implemented soon with only around 25%.
Why can't they just implement bigger blocks already?
A spam attack on the network would not be cheap so I could agree that if someone is launching such an attack then it is most likely being perpetrated by some group that does actually care about bitcoin and as you say trying to bring attention to a problem that needs to be addresses asap.
It's strange, i use to sent 0.0001 or 0.0002 for every BTC i send. Now blockchain.info tells me to use 0.01 BTC for a 4 BTC transaction. I put 0.001 and the transfer went fine. Can anyone explain why you should so much in fees? 3600 USD with 9 USD on fees is the same as western union.
Wasn't bitcoin supposed to be different?
Wasn't bitcoin supposed to be different?
as a Sr. Member with so many posts you should already know that bitcoin fee is based on size in bytes not size in satoshi.
so it doesn't matter if you are sending 3600 USD, 0.36 USD or 3 billion USD if you have 1 input your size in byte will be smaller so you pay smaller fee, and if you have hundreds of small input your size in bytes will be bigger and you will pay higher fee.
if your wallet suggested a 0.01BTC fee for your transaction it means you have a transaction as big as 10,000 bytes or about 10 kilo bytes
I think that bitcoin fees must be higher for transaction but loower than paypal,payza,western union or other payment service because pupil which have mining job allso mmust earn something.
Try to read the whole post before trying to commenting about such problem, there is no problem about the bitcoin fees although if the spamming transactions were attacking the bitcoin network and it will deprioritize your transaction. So, you're not read the whole post above you. I think that bitcoin fees must be higher for transaction but loower than paypal,payza,western union or other payment service because pupil which have mining job allso mmust earn something.
You really think that the current bitcoin transaction fees should be higher or are you just spamming for you sig payments?In some cases btc transactions fees are now larger than banks and PayPal, the bigger the tx the bigger the fee you must ad.
Most faucets can no longer operate, birds.bitcoin.com that was a popular re tweet payment system can no longer run because these type businesses rely on many small inputs, all theses small inputs add up to massive transactions that can cost an easy $30 usd in fees to send to another wallet or cold storage. Bigger block would be a great start at lowering the fees.
I think that bitcoin fees must be higher for transaction but loower than paypal,payza,western union or other payment service because pupil which have mining job allso mmust earn something.
It's strange, i use to sent 0.0001 or 0.0002 for every BTC i send. Now blockchain.info tells me to use 0.01 BTC for a 4 BTC transaction. I put 0.001 and the transfer went fine. Can anyone explain why you should so much in fees? 3600 USD with 9 USD on fees is the same as western union.
Wasn't bitcoin supposed to be different?
Wasn't bitcoin supposed to be different?
...
I did two trx today, with a fee of about BTC0.00045, the trx were small in KBs.
Paying a big fee is worth it for me, as I consider all of my transactions "important", so I pony up. Recently I had to do a number of very small trx (as described above in this thread as well as in others), so I saw what a problem it was sending out trx with low fees (LONG confirmation times).
That lovely tool that someone here showed us a couple of weeks ago to accelerate trx helps a lot:
https://www.viabtc.com/tools/txaccelerator/
If you send out a small transaction, but include at least BTC0.0001, then that tool will speed things along nicely, and it costs nothing.
I did two trx today, with a fee of about BTC0.00045, the trx were small in KBs.
Paying a big fee is worth it for me, as I consider all of my transactions "important", so I pony up. Recently I had to do a number of very small trx (as described above in this thread as well as in others), so I saw what a problem it was sending out trx with low fees (LONG confirmation times).
That lovely tool that someone here showed us a couple of weeks ago to accelerate trx helps a lot:
https://www.viabtc.com/tools/txaccelerator/
If you send out a small transaction, but include at least BTC0.0001, then that tool will speed things along nicely, and it costs nothing.
It was 57k unconfirmed transactions about 15 mins back and I thought it was getting better since everyone is posting about it being over 70k. Now, it is going back up. Crossed 60k unconfirmed transactions. Ive been waiting for about 18 hrs for my transaction to get confirmed. Hoping that happens in a couple of hours. It really sucks that it is taking soo long. Hopefully this will pass soon.
Usually if people pay 0.0005 BTC fees then it confirms within the next 3 three blocks, but I wonder that if everyone starts paying 0.0005 then even that would be less and maybe 0.005 would be new standard. Really not sure why this is happening and I hope this is temporary.It's just some sort of a spam attack against the network, which isn't anything new since it happens once in a while. And yes, it's just temporary since it would be too costly for the entity behind this attack to continue doing this for weeks in a row. Sad thing is that they don't care about Bitcoin as the only people suffering right now are the users itself, and not the people they really want to target. Good thing is that the mempool seems to be going back to pre spam attack levels.
It's about time too, since Segwit isn't going to be implemented soon with only around 25%.
Why can't they just implement bigger blocks already?
Exactly ! I hope though that the miners increase in numbers because that is the only solution I see to these slow confirmations.
Again another misunderstanding - the rate of transaction confirmation is the same no matter how many or few miners you have. The rate of block finding, and hence transaction confirmation, is kept constant by the bitcoin network constantly adapting its difficulty to maintain one block every 10 minutes on average. Jump to: