Time to quit now, network getting worst - page 2.

phutakami

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Quote from: blackcoiner on November 14, 2017, 06:51:10 PM

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.

Transaction fees are rising but the quality of trading is low Sad

I'm wondering if the miners they are working on are becoming sluggish or the volume of trading is rising.

sukamasoto

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Black Panther

I think it's back to normal already and also bitcoin is start to climb up

It's sucks since it also happen to me as well , imagine when I want to send 0.01 , it require 0.002 fee ( highly expensive )

Quote from: blackcoiner on November 14, 2017, 09:55:10 PM

Quote from: unistone on November 14, 2017, 09:50:51 PM

I really don't understand why so many people don't support Segwit2X. The situation could have been much better.

Because miner doesn't want it. Simply, if size bigger...there will be almost no transaction fee.
i'm not sure why 100K+ $ reward per block still not enough for them. Some of them earn 1M $/day just from reward...and still they want more

I thought on that day, most miner move into BCH

MarcelToma

newbie

Activity: 3

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I have 2 concerns about the congestion issue.

First, the number of transaction and ppl adopting bitcoin grow faster and even valid transactions will have to wait days for confirmation.

Second, I saw the discussions of ppl involved in segwit2x and all other modification in the bitcoin protocol, the problem here is that the consensus about adopting a change in it is basically up to developers and miners. Well, miners just want things the way it is now, it is more profitable and they will probably take it to a extreme until they are forced to do a change.

Anyone knows any news that would address this issues?

Please, don't use your on rage on me, I just want a calm and thoughtful discussion.

blackcoiner

newbie

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Quote from: unistone on November 14, 2017, 09:50:51 PM

I really don't understand why so many people don't support Segwit2X. The situation could have been much better.

Because miner doesn't want it. Simply, if size bigger...there will be almost no transaction fee.
i'm not sure why 100K+ $ reward per block still not enough for them. Some of them earn 1M $/day just from reward...and still they want more

jtipt

hero member

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Quote from: blackcoiner on November 14, 2017, 06:51:10 PM

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

Give it some time. The network is getting so congested because people like you, were selling their bitcoin and getting into BCH, that's what was causing the drop in price as well as the increased fees. Now that the situation is getting calmer and BTC us rising I think the network should be back to normal in few days. Fees are still a big problem for BTC even if the network is not congested, but that's a discussion for some other time.

unistone

newbie

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I really don't understand why so many people don't support Segwit2X. The situation could have been much better.

jseverson

hero member

Activity: 1834

Merit: 759

Yeah, the network is insanely congested at the moment, but that's because of the Bitcoin Cash attack. That's what I believe anyway. If we follow this train of thought then that means things will normalize after a while, so it may be better to just HODL. People seem to be thinking the same way, with Bitcoin approaching $7000 again.

This has been an eye opening experience though. Something must be done to address this problem. The Bitcoin network needs to be able to handle far more transactions daily.

blackcoiner

newbie

Activity: 28

Merit: 0

Quote from: Unicorn_Heart on November 14, 2017, 09:08:43 PM

Quote from: blackcoiner on November 14, 2017, 06:51:10 PM

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.

If that's how you feel then you may do so, however i suggest that check the figures of previous unconfirmed transactions that was way higher. The trend as well does not speak that it is going down, in fact when you compare the market stability from previous months, Bitcoin is doing pretty well, that drives the transaction cost also.. Just don't be impulsive, weigh other factors and be open to other perspective.

I monitoring transaction volumes last few days....unconfirmed transactions decreased. But it will take few days to confirm all transactions.
Remember, bitcoin only able handle about 300K transactions/day. And average normal transaction now between 290K-330K transactions.
This mean there will be huge problem if lot people join bitcoin market right now, and current bitcoiners not able to do transactions more often!

maydna

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Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: blackcoiner on November 14, 2017, 06:51:10 PM

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.

i think we need to waiting for a while if we see the transaction it seems overload and there is need high fee to send the transaction. this time we need to be patience if we want to make transaction because there will be big delay of the time to be arrived in other wallet. but i am sure that everything will be fine and we can send transaction without spend high fee and i think it is just temporary.

Unicorn_Heart

member

Activity: 115

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Quote from: blackcoiner on November 14, 2017, 06:51:10 PM

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.

If that's how you feel then you may do so, however i suggest that check the figures of previous unconfirmed transactions that was way higher. The trend as well does not speak that it is going down, in fact when you compare the market stability from previous months, Bitcoin is doing pretty well, that drives the transaction cost also.. Just don't be impulsive, weigh other factors and be open to other perspective.

Laland

full member

Activity: 317

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Bounty manager

Quote from: blackcoiner on November 14, 2017, 09:04:56 PM

Quote from: EMS-007 on November 14, 2017, 08:54:42 PM

Quote from: blackcoiner on November 14, 2017, 06:51:10 PM

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.

I'm not sure if your aim is about your concern pertaining to this issue because this has been a problem in Bitcoin ever since that really needs to get fix! But if this is your tactical way to encourage everyone to switch with bitcoincash then you can't count on me..
Bitcoin remains the head of Crypto-currency for real decentralization! Cool

Indeed, this problem since beginning. But now become very critical due of more people use bitcoin and price increase/down only in few days/hours.
And now it become more mainstream, which mean affect will be more great. And there no solution yet...

I guess the devsaredeveloping ways on how to improve this transactions. Because from now we can say that it improves rather than seeing 14000k unconfirmed transactions in the past 2 days. As a traderwe can just wait until it improves or pay some high fees if really need something to send.

blackcoiner

newbie

Activity: 28

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Quote from: EMS-007 on November 14, 2017, 08:54:42 PM

Quote from: blackcoiner on November 14, 2017, 06:51:10 PM

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.

I'm not sure if your aim is about your concern pertaining to this issue because this has been a problem in Bitcoin ever since that really needs to get fix! But if this is your tactical way to encourage everyone to switch with bitcoincash then you can't count on me..
Bitcoin remains the head of Crypto-currency for real decentralization! Cool

Indeed, this problem since beginning. But now become very critical due of more people use bitcoin and price increase/down only in few days/hours.
And now it become more mainstream, which mean affect will be more great. And there no solution yet...

EMS-007

member

Activity: 364

Merit: 10

Quote from: blackcoiner on November 14, 2017, 06:51:10 PM

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.

I'm not sure if your aim is about your concern pertaining to this issue because this has been a problem in Bitcoin ever since that really needs to get fix! But if this is your tactical way to encourage everyone to switch with bitcoincash then you can't count on me..
Bitcoin remains the head of Crypto-currency for real decentralization! Cool

Bitcoinislifer09

full member

Activity: 257

Merit: 101

Quote from: blackcoiner on November 14, 2017, 06:51:10 PM

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.

It depends on you if you give up the bitcoin just because of one problem because you will not earn money if you give up in one problem.You will not be a successful in the bitcoin. Just like they say that quitters never win,winners never quit.

blackcoiner

newbie

Activity: 28

Merit: 0

Quote from: bamboylee on November 14, 2017, 08:39:32 PM

Quote from: gentlemand on November 14, 2017, 08:18:28 PM

Quote from: blackcoiner on November 14, 2017, 08:14:29 PM

In bitcoin technology, there no way do identify which spam or not.
It just because transaction volume already reach the limit, bigger than bitcoin can handle....sad but i have to admit it. Average daily transaction already reach the limit. No space anymore for new adopters or bigger transactions volume.

Of course not. A transaction is a transaction. But we all know what's going to clog and what won't as do the people sending them. Many wallets won't let you choose fees that low and with others you have to actively create them. They know what they're doing.

When this isn't happening there is still more than enough capacity. In August the mempool was empty and zero fee transactions often got through. With Bitcoin without second layers there will always be a limit and people will always attack BTC by exploiting it. 2-3-4MB blocks won't make much difference.

It is right. This has been argued a long time ago and just keeps popping up every time a newbie wants to FUD. Blocksize is not a solution to this problem. It will just take more spam tx but nothing can stop them from clogging the system even if you raise the blocksize.

So what solutions?
Soon transactions will reach 10tx/s (24 hours average). Even all are legit transactions and willing to pay high fee, still there will have lot unconfirmed transactions per day. Current capacity only about 7-8tx/s (24 hours average).

Are you willing spent 15-50 $/day on transaction fee? when you need to transfer only less than 1000 $

bamboylee

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Quote from: gentlemand on November 14, 2017, 08:18:28 PM

Quote from: blackcoiner on November 14, 2017, 08:14:29 PM

In bitcoin technology, there no way do identify which spam or not.
It just because transaction volume already reach the limit, bigger than bitcoin can handle....sad but i have to admit it. Average daily transaction already reach the limit. No space anymore for new adopters or bigger transactions volume.

Of course not. A transaction is a transaction. But we all know what's going to clog and what won't as do the people sending them. Many wallets won't let you choose fees that low and with others you have to actively create them. They know what they're doing.

When this isn't happening there is still more than enough capacity. In August the mempool was empty and zero fee transactions often got through. With Bitcoin without second layers there will always be a limit and people will always attack BTC by exploiting it. 2-3-4MB blocks won't make much difference.

It is right. This has been argued a long time ago and just keeps popping up every time a newbie wants to FUD. Blocksize is not a solution to this problem. It will just take more spam tx but nothing can stop them from clogging the system even if you raise the blocksize.

centralbanksequalsbombs

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Bitcoin :open immutable decentralized global fair

Quote from: blackcoiner on November 14, 2017, 06:51:10 PM

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.

LOL.

Bitcoin is worth over 100B USD and has daily volume in the Billions, is globally held, and you, blackcoiner and also TangentC, say its a shitcoin?

What other economic-advice or life-advice do you have? And why are you on this forum?

=)

Please, feel free to never invest in Bitcoin and have your wealth over time disappear. If you have any Bitcoin, please sell it all.

Smaller blocksize LIMITS spam

Larger blocksize, lower fees ENABLES more spam

The failed bitcoin attackers; Roger Ver, Jeff Garzik, Barry Silbert, and the DCG backed entities (Coinbase, Kraken, Bitpay, Coindesk, Blockchain.info, bitcoin.com, etc) will continue to influence attacks on Bitcoin via forks, code, media (see coindesk) articles and social posts, funded startups, and flow of funds into exchanges (pumps & dumps).

Why do you think the spam started again and increased after announcement of segwit2x (bitcoin-killer) hardfork cancellation?

What's hilarious is the strength of decentralized Bitcoin and its requirement of consensus has destroyed all opposition - every attempt of undermining bitcoin has failed for four plus years since the attacks ramped up in 2013 (4+ years).
Bitcoin is King.

The network of individuals, and companies that are actually pro-Bitcoin are far more powerful than even the DCG-group!

People around the world are seeing this and getting a quick education. Kudos to Bitcoin, decentralization, and the truth.

ranman09

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Quote from: gentlemand on November 14, 2017, 07:37:14 PM

Quote from: ranman09 on November 14, 2017, 06:53:43 PM

This is what BCC is "said" trying to fix through making 2mb block size. (correct me if im wrong). Why wont core implement this in butcoin will there be a problem?

BCC/BCH is creating these network problems to try and force people to use their coin.

Fees were 90% or more cheaper a few days ago. Is there ten times more use? No.

If Core did implement 2MB block then the people in control of BCC/BCH would spam that too. They're out to kill Bitcoin and this is one of the ways they're attacking it.

And 90k is far from the highest. It's been over 200,000 in the past.

So are you saying there is no real problem with the current state of the network? I must say i have a problem with fees on micropayments. Fees are so high not suitable for consumers with small transactions i guess.

And you are right i think they are only attacking bitcoin off its throne.

The Sceptical Chymist

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Quote from: blackcoiner on November 14, 2017, 06:51:10 PM

Network getting ~~worst~~ worse

Hate to be that guy, but get the grammar right.

I had 3 transactions stuck in the network for about 2 days, and finally they went through. I thought they were all going to get sent back, to be honest. I use Mycelium, and for two of them I used the "economic" option, which came out to be something like $6 for a fee, and the third one I used the "low-priority" option, and it was still fairly expensive for the amount I was sending. That one was the last to go through--but they all did, and I'm happy.

If you wonder why bitcoin isn't rapidly getting adopted for everyday use, why you don't see people waiting in line, paying for their coffee at Starbucks with bitcoin, this is part of the reason. If you have to wait for at least one confirmation before you consider yourself paid in full, it just isn't practical. Nor do I, as a bitcoin user, feel like paying a huge fee just for the privilege of using crypto to pay for something. It costs me $0 to use cash or my debit card. Makes sense, no?

blackcoiner

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Quote from: gentlemand on November 14, 2017, 08:18:28 PM

Quote from: blackcoiner on November 14, 2017, 08:14:29 PM

In bitcoin technology, there no way do identify which spam or not.
It just because transaction volume already reach the limit, bigger than bitcoin can handle....sad but i have to admit it. Average daily transaction already reach the limit. No space anymore for new adopters or bigger transactions volume.

Of course not. A transaction is a transaction. But we all know what's going to clog and what won't as do the people sending them. Many wallets won't let you choose fees that low and with others you have to actively create them. They know what they're doing.

When this isn't happening there is still more than enough capacity. In August the mempool was empty and zero fee transactions often got through. With Bitcoin without second layers there will always be a limit and people will always attack BTC by exploiting it. 2-3-4MB blocks won't make much difference.

So it will be problem and problem....and trust gone. Remember, bitcoin value only about trust and faith. If this keep happening, people wont use it anymore and decrease value.
Not everybody use bitcoin with huge transactions. Often they use to send 300-1500$, which it doesn't make sense to spent 15-50$ on transactions fee. And they have to wait few hours or days to get their transactions confirmed...
Except there no alternative.

Topic: Time to quit now, network getting worst - page 2. (Read 1213 times)