Returning to bitcoin after 2 years! shocked at confirmation time! - page 5.

MysticOne

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Quote from: cuddaloreappu on May 13, 2017, 10:47:50 PM

This was not the bitcoin i had seen!

What in the world has happened to bitcoin

It is almost one day and the transaction has not been confirmed and as a result i am not able to trade in any exchange..

i have heard that the transaction confirmation time has increased but never expected this worst case.. at this rate everyone will soon abandon bitcoin and this is the reason perhaps bitcoin dominance has come down significantly in the crypto space

At a time when this is many peoples first encounter with bitcoin due to the ransomware the long confirmation times will definetly be turning many off. If Bitcoin wants mass adoption to take place it has to lower the tx time. Nobody wants to be waiting in a store to confirm a tx for 4 hours.

The One

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Quote from: Holliday on May 13, 2017, 10:53:43 PM

In all that time you didn't bother to learn how to use Bitcoin? That's unfortunate.

There is more competition to append the block chain these days and if you want to be first in line (priority) you have to outbid other users.

Bitcoin is not an auction.

Queue jumping in the real world is bad manners.

alyssa85

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Quote from: Sr.Urbanist on May 13, 2017, 11:14:27 PM

Quote from: Dimelord on May 13, 2017, 11:09:40 PM

No one is going to abandon bitcoin except you.

And me. I'm moving to LiteCoin, as soon as they get SegWit figured out and this warning on my core node goes away:

1. 2MB blocks
2. 2.5 minute tx times
3. Can buy on Coinbase
4. A couple PH of security (mining)
5. It's not ETH
6. LOW transaction fees (merchant acceptance)

Not everyone is a Bitcoin maximalist.

Segwit has already been locked into litecoin. see

https://www.cryptocoinsnews.com/litecoin-successfully-activates-segwit/

Quote

Litecoin is the biggest digital currency to successfully activate segwit which went live around 6PM London time on the 10th of May 2017 with segwit transactions now available for use depending on the litecoin wallet.

It is now immediately available to use if your service provider has upgraded to support segwit.

The Lightning Network (LN) is now to be deployed, a second layer protocol on top of litecoin which can handle thousands of transactions per second by using the base, on-chain layer, only as a settlement for payments.

Not many people are using it though - possibly because they don't realize it has gone live.

Sr.Urbanist

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Quote from: btc_angela on May 14, 2017, 01:55:09 AM

The only way around is to used a higher transaction fee so that chances of you getting to the next block to process your transaction is high.

I find I can send 20 transactions to another wallet with no fee and, when I need them to go through, I send a small transaction with a high fee and it picks them all up. I don't know why, but as long as it's wallet address A-->B for each transaction it seems to work.

btc_angela

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Quote from: iamTom123 on May 14, 2017, 01:43:01 AM

There is still no consensus as to what solution to adopt to clear the scaling problem affecting Bitcoin right now. The division now clearly happening in the Bitcoin community though not affecting the price but definitely making transactions more costly and a lot delayed. You are right, the Bitcoin today was not the Bitcoin two years ago. Hope solutions can be afforded soon so that we can move on and Bitcoin can already be growing according to its real potential.

Exactly. The politics going on with this scaling issue has been the main bottleneck for some time now that is make bitcoin not really ideal for micro-transactions. The only way around is to used a higher transaction fee so that chances of you getting to the next block to process your transaction is high. We are all hoping that the issue can be resolved to help bitcoin grow and be mass adopted.

Sr.Urbanist

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Quote from: jonald_fyookball on May 14, 2017, 12:37:29 AM

whats wrong w eth

Probably nothing. It's really cool, but there seem to be secrets with the pre-mining and DAO. Also, it's just not my space. For me it's a bit of a Rube Goldberg Machine. I'm sure there is a lot of money to be made with the major banks jumping into the space. However, they "are switching" to PoS. Putting the pre-mining, DAO, PoS, bank investments and unlimited number of tokens together leads me to a slope of centralization.

I do own a little ETC for speculation.

Quote from: ?? on ??

Send $50 of LTC , transaction fee was 1 penny.
I also am moving to LTC , it arrived so fast at it's destination compared with bitcoin , it was a pleasant surprise.

It is a pleasure to use and an old bitcoin chain, so it has many of the same characteristics.

iamTom123

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There is still no consensus as to what solution to adopt to clear the scaling problem affecting Bitcoin right now. The division now clearly happening in the Bitcoin community though not affecting the price but definitely making transactions more costly and a lot delayed. You are right, the Bitcoin today was not the Bitcoin two years ago. Hope solutions can be afforded soon so that we can move on and Bitcoin can already be growing according to its real potential.

Weatherby

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Quote from: johnwest on May 14, 2017, 01:29:35 AM

I think he havnt saved any BTC in the past and after seeing the price, he got a heart attack and got frustrated. For that kind of price the fee will also be higher than the normal mate. But still it is low if you compare other service providers as well as currencies.

It is really hard to compare bitcoin transaction with any other transaction platforms and you really cannot compare the price difference as it is not fair, it is really frustration to see the price of transaction is getting higher with the price ,we need to increase the block limit to accommodate more transactions and that is the only solution here.

johnwest

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Quote from: davis196 on May 14, 2017, 01:23:45 AM

Quote from: cuddaloreappu on May 13, 2017, 10:47:50 PM

This was not the bitcoin i had seen!

What in the world has happened to bitcoin

It is almost one day and the transaction has not been confirmed and as a result i am not able to trade in any exchange..

i have heard that the transaction confirmation time has increased but never expected this worst case.. at this rate everyone will soon abandon bitcoin and this is the reason perhaps bitcoin dominance has come down significantly in the crypto space

This thread number 1000 complaining about the confirmation time.
This happens every time when bitcoin price skyrockets,but you are returning to btc ,so i assume you didn`t know about that.

I think he havnt saved any BTC in the past and after seeing the price, he got a heart attack and got frustrated. For that kind of price the fee will also be higher than the normal mate. But still it is low if you compare other service providers as well as currencies.

DoublerHunter

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There is already a lot of things that have been changed ever since. A lot of people now are using bitcoin and a lot of volumes of both money and users are coming to bitcoin everyday so there is no surprising moment for bitcoin if the transaction confirmations takes a lot of time because the network is getting more crowded and that is causing so much traffic to the network.

eaLiTy

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Quote from: cuddaloreappu on May 13, 2017, 10:47:50 PM

This was not the bitcoin i had seen!
What in the world has happened to bitcoin
It is almost one day and the transaction has not been confirmed and as a result i am not able to trade in any exchange..
i have heard that the transaction confirmation time has increased but never expected this worst case.. at this rate everyone will soon abandon bitcoin and this is the reason perhaps bitcoin dominance has come down significantly in the crypto space

If you really checked the price of bitcoin you would not say that the dominance of bitcoin has come down significantly ,yes there is a significant change in transaction delays and the price of transaction has increased in the past few months and if you are not able to provide the required fees then your transaction might get rejected.

davis196

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Quote from: cuddaloreappu on May 13, 2017, 10:47:50 PM

This was not the bitcoin i had seen!

What in the world has happened to bitcoin

It is almost one day and the transaction has not been confirmed and as a result i am not able to trade in any exchange..

i have heard that the transaction confirmation time has increased but never expected this worst case.. at this rate everyone will soon abandon bitcoin and this is the reason perhaps bitcoin dominance has come down significantly in the crypto space

This thread number 1000 complaining about the confirmation time.
This happens every time when bitcoin price skyrockets,but you are returning to btc ,so i assume you didn`t know about that.

traderethereum

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Activity: 2870

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maybe you use small fee when you want to send into other wallet, i suggest you use standard fee to get normal confirmations at least you can use 0.0005 btc to send the amount. many of us have this experience and they only waiting long confirming but in the end, the status will be completed.

coynedterm

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Activity: 882

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Quote from: cuddaloreappu on May 13, 2017, 10:47:50 PM

This was not the bitcoin i had seen!

What in the world has happened to bitcoin

It is almost one day and the transaction has not been confirmed and as a result i am not able to trade in any exchange..

i have heard that the transaction confirmation time has increased but never expected this worst case.. at this rate everyone will soon abandon bitcoin and this is the reason perhaps bitcoin dominance has come down significantly in the crypto space

this is not a fault of Bitcoin Bitcoin network because in the current time unlimited numbers of the transaction are going with the BTC that are making competition to confirm the transaction at first so I think you need to pay the high fees for the fast confirmation.
Last day I made about 3 to 4 transaction but I didn't face any problem in my transaction for the confirmation because I gave the much amount of fees for the confirmation of my Bitcoin transaction .
But here this is a really big factor that we needed to get better improvement in the Bitcoin network was in the future we will use more and more Bitcoin in the whole world so we need the better efficiency by the Bitcoin network in the low fee .

Amph

legendary

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pay the correct fee, next time, i see that now if you pay half of the fee you can still have it confirmed in a good amount of time

Quote from: Sr.Urbanist on May 14, 2017, 12:27:05 AM

Quote from: Sadlife on May 14, 2017, 12:22:47 AM

... a spam of transactions at the moment.

What is a spam transaction?

anything that aim to increase the amount of transaction to a very high value in a short time frame, but really it subjective, there is now ay tot ell if soeone is spammign a tx or not, if he don't pay the fee it will be simply rejected

otherwise it will be accepted like many other transaction, int he end every transaction can be called a spam or not

jonald_fyookball

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whats wrong w eth

Barbut

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Quote from: Sr.Urbanist on May 13, 2017, 11:14:27 PM

Quote from: Dimelord on May 13, 2017, 11:09:40 PM

No one is going to abandon bitcoin except you.

And me. I'm moving to LiteCoin, as soon as they get SegWit figured out and this warning on my core node goes away:

1. 2MB blocks
2. 2.5 minute tx times
3. Can buy on Coinbase
4. A couple PH of security (mining)
5. It's not ETH
6. LOW transaction fees (merchant acceptance)

Not everyone is a Bitcoin maximalist.

I like your comment, you are totally right here, and I support your decisions. LTC is good, its not eth and what is more important not everyone is bitcoin maximalist, so why not other coins to have equal chances for success.
On other side, bitcoin transaction time can be really annoying if someone is in a hurry or simply wish things to be done right away. I waited more then 5 days recently, and yesterday I received 0.1 btc after 3-4 days of waiting for confirmation, this waiting for confirmation really affects us all.

Sr.Urbanist

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Quote from: Sadlife on May 14, 2017, 12:22:47 AM

... a spam of transactions at the moment.

What is a spam transaction?

hase0278

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Quote from: mikey5287 on May 14, 2017, 12:11:57 AM

Quote from: Newar on May 13, 2017, 10:51:21 PM

Simply pay the proper fee. Most clients include that functionality by now.

Not necessarily true. At the moment, there are currently more than 140,000 unconfirmed transactions. My last transaction took over 8 hours, and I paid nearly $4 to simply move coins from my hot wallet to an exchange.

Confirmation times will be the downfall of Bitcoin, if a soft fork (at the least) doesn't happen. I personally have made the switch over to LTC, ETH and XMR, simply because of the nearly instant (and much cheaper) transactions. BTC will always be the gold standard, but unfortunately, with more and more people learning about it, the slower that confirmations will become.

If the same amount of users bitcoin has now used your mentioned altcoin, I guess they would have the same speed of confirmation time bitcoin have now maybe more. To fasten transactions I use viabtc to accelerate transactions but sometimes it still takes hours but its still good. Even if it takes days though the important thing for me is that it will arrive so I will just wait patiently and use bitcoin.

Sadlife

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Ohh welcome back and great timing but unfortunately bitcoin's network is currently being attack by a spam of transactions at the moment.
But it should be fine in couple of hours or days, in the mean time you could resd some articles about the innovations of bitcoin and worldwide adoption, getting legalized in some countries, many merchants and services started accepting bitcoin as a payment method.

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