Transactions take very long WHY? | Bitcointalksearch.org

calkob

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Quote from: rally on December 03, 2015, 11:49:51 AM

I am also re downloading my btc wallet en takes now already about 5 days before every block is downloaded. At this moment i 'm still 5 weeks behind. Don't think this will be downloaded before midnight at the tempo of the last days.
Why does that go so slowly?

I just downloaded the blockchain myself and i took 48 hrs, roughly. It depends on your computer. Wink

shorena

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No I dont escrow anymore.

Quote from: therealmrmike on December 09, 2015, 02:25:10 PM

i just looked at this transaction am i looking at it right it took 3 days for a conformation?

Sounds about right.

Blockchain.info saw it on 2015-12-02 13:23:24 and it was in block 386802 ( 2015-12-05 08:38:26 ) ~ 4000 minutes later.

1 satoshi per byte is a bit low for a fee currently.

therealmrmike

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i just looked at this transaction am i looking at it right it took 3 days for a conformation?

shorena

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No I dont escrow anymore.

Quote from: Bitware on December 08, 2015, 04:36:51 PM

-snip-
Isn't it the miners who choose the minimum fee they require to accept a transaction?

Miners can set a minimum amount to considering something a fee. E.g. consider all fees lower than 10 BTC as a "free" transaction. Miners can also decide how much (or little) space they reserve per block for "free" (according to their own rules) transactions.

We currently have a different problem though. Miners mine empty and on possibly invalid blocks because it might give them a slight advantage over miners that fully validate every block they get and fill it with transactions. A block with just a little over 100 transactions[1] should not happen if we have over 10k transactions[2,3] paying a fee waiting.

[1] https://www.blocktrail.com/BTC/block/00000000000000000406c77b3806ab45b059ad945c120d6151520d5d812db662
[2] http://statoshi.info/dashboard/db/transactions
[3] https://i.imgur.com/hSliWyM.png

Bitware

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weaving spiders come not here

Quote from: pedrog on December 07, 2015, 09:13:24 AM

Quote from: calkob on December 06, 2015, 05:28:32 PM

i get frustrated with this myself but there is obviously a problem somewhere if you are only sending the minimum fee then that might be the issue and also check in the settings of what ever software you are using sometimes there fees are lower than the network fee. you know that transactions are actually very fact its the confirmations that are sometimes slow, if you can trust the other party then you are sorted already....

all the best
calkob

Even if everyone paid 1 BTC/kb the problem is still there, not enough room for transactions.

I don't think bitcoin is in a position to start restricting it's use, adoption isn't nearly enough to this kind of thing, and it's certainly damaging adoption.

Isn't it the miners who choose the minimum fee they require to accept a transaction?

pedrog

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Quote from: calkob on December 06, 2015, 05:28:32 PM

i get frustrated with this myself but there is obviously a problem somewhere if you are only sending the minimum fee then that might be the issue and also check in the settings of what ever software you are using sometimes there fees are lower than the network fee. you know that transactions are actually very fact its the confirmations that are sometimes slow, if you can trust the other party then you are sorted already....

all the best
calkob

Even if everyone paid 1 BTC/kb the problem is still there, not enough room for transactions.

I don't think bitcoin is in a position to start restricting it's use, adoption isn't nearly enough to this kind of thing, and it's certainly damaging adoption.

calkob

hero member

Activity: 1106

Merit: 521

i get frustrated with this myself but there is obviously a problem somewhere if you are only sending the minimum fee then that might be the issue and also check in the settings of what ever software you are using sometimes there fees are lower than the network fee. you know that transactions are actually very fact its the confirmations that are sometimes slow, if you can trust the other party then you are sorted already....

all the best
calkob

bob123

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Higher fee, ofc, makes faster transactions.
But there might just be a lot of transaction in the network. Definetly will go through..

Bitware

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weaving spiders come not here

Pay a reasonable tx fee you cheap bastards.

Rubberduckie

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all my transactions are taking forever also. My wife sent a small
amount using electrum wallet and that went very fast though.
Took hours earlier to receive .02

shorena

copper member

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No I dont escrow anymore.

Quote from: insertcoin1 on December 04, 2015, 09:36:57 AM

Quote from: shorena on December 03, 2015, 01:22:12 PM

Quote from: insertcoin1 on December 03, 2015, 12:49:13 PM

Quote from: InvoKing on December 03, 2015, 12:41:07 PM

You mean this https://blockchain.info/tx/55ad22cc23dd04b5654caad77634c79ced9505f2471566e9a79707eaba66a67b ?
I see that the fees here are too low tho: 0.00000226 BTC..
Besides,for your other transaction sent today, this is also true

Quote from: ranochigo on December 03, 2015, 11:48:51 AM

Based on shorena's node, the mempool size is relatively big right now, [ img]http://213.165.91.169/pic/mempool24h_v2.png[/img] Most of the recent blocks are quite big as well.

I used Bitcoin-QT wallet and set the fee through there, setting it on "fast" which was the highest setting available. Never really used manual fee setting, but as I understand the network is on overflow at the moment.

Most of the time the fastest setting is actually not the best. Open bitcoin core, let it run for a while and see for yourself. Currently I have

fastest - fee: 0.00001 btc/kb (Smart fee not initialized yet. This usually takes a few blocks...)
1 lower - fee: 0.00019988 btc/kb Estimated to begin confirmation within 2 blocks.
lowest - fee: 0.00007789 btc/kb

As you can see the 2nd fastest option is 20 times higher than the fastest. Even the lowest setting is higher than the fastest. It matches your TX perfectly (fee in satoshi = size in bytes). The TX itself is fine, its just that there are so many transactions that bitcoin core cant determine how high a fee should be for your transaction to be in the next block. Since it cant work out a value it falls back to the default fee. Sadly, this is currently too low. Im afraid you have to wait a bit. Keep bitcoin core open it will rebroadcast your transaction to make sure the network does not forget about it. You send spend a relativly high amount (~0.44 btc) chances are you will get a confirmation within the next 1-2 days. This is because higher value inputs get higher priority over time.

Thanks for the info, sadly still not through, but I guess i'll have to be patient.

Looks like its a bad time to have a pending TX with low fee.

There is something you can try though. You can remove the transaction from your wallet. It will forget about it and stop to broadcast it. If the rest of the network also forgets about it you can resend it with a higher fee. You can do this by

#1 close bitcoin core
#2 start bitcoin core with -zapwallettxes
#3 wait

To start bitcoin core with -zapwallettxes is different depending on your operation system, for windows you:

#1 hit win + r (to open "run")
#2 enter: c:\Program Files\Bitcoin\bitcoin-qt.exe -zapwallettxes
#3 confirm with "ok"
#4 bitcoin core will start normally (checking blocks) and rescan all transaction data, this can take a bit depending on your disk/cpu speed

insertcoin1

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Quote from: shorena on December 03, 2015, 01:22:12 PM

Quote from: insertcoin1 on December 03, 2015, 12:49:13 PM

Quote from: InvoKing on December 03, 2015, 12:41:07 PM

You mean this https://blockchain.info/tx/55ad22cc23dd04b5654caad77634c79ced9505f2471566e9a79707eaba66a67b ?
I see that the fees here are too low tho: 0.00000226 BTC..
Besides,for your other transaction sent today, this is also true

Quote from: ranochigo on December 03, 2015, 11:48:51 AM

Based on shorena's node, the mempool size is relatively big right now, [ img]http://213.165.91.169/pic/mempool24h_v2.png[/img] Most of the recent blocks are quite big as well.

I used Bitcoin-QT wallet and set the fee through there, setting it on "fast" which was the highest setting available. Never really used manual fee setting, but as I understand the network is on overflow at the moment.

Most of the time the fastest setting is actually not the best. Open bitcoin core, let it run for a while and see for yourself. Currently I have

fastest - fee: 0.00001 btc/kb (Smart fee not initialized yet. This usually takes a few blocks...)
1 lower - fee: 0.00019988 btc/kb Estimated to begin confirmation within 2 blocks.
lowest - fee: 0.00007789 btc/kb

As you can see the 2nd fastest option is 20 times higher than the fastest. Even the lowest setting is higher than the fastest. It matches your TX perfectly (fee in satoshi = size in bytes). The TX itself is fine, its just that there are so many transactions that bitcoin core cant determine how high a fee should be for your transaction to be in the next block. Since it cant work out a value it falls back to the default fee. Sadly, this is currently too low. Im afraid you have to wait a bit. Keep bitcoin core open it will rebroadcast your transaction to make sure the network does not forget about it. You send spend a relativly high amount (~0.44 btc) chances are you will get a confirmation within the next 1-2 days. This is because higher value inputs get higher priority over time.

Thanks for the info, sadly still not through, but I guess i'll have to be patient.

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: insertcoin1 on December 03, 2015, 12:49:13 PM

Quote from: InvoKing on December 03, 2015, 12:41:07 PM

You mean this https://blockchain.info/tx/55ad22cc23dd04b5654caad77634c79ced9505f2471566e9a79707eaba66a67b ?
I see that the fees here are too low tho: 0.00000226 BTC..
Besides,for your other transaction sent today, this is also true

Quote from: ranochigo on December 03, 2015, 11:48:51 AM

Based on shorena's node, the mempool size is relatively big right now, [ img]http://213.165.91.169/pic/mempool24h_v2.png[/img] Most of the recent blocks are quite big as well.

I used Bitcoin-QT wallet and set the fee through there, setting it on "fast" which was the highest setting available. Never really used manual fee setting, but as I understand the network is on overflow at the moment.

Most of the time the fastest setting is actually not the best. Open bitcoin core, let it run for a while and see for yourself. Currently I have

fastest - fee: 0.00001 btc/kb (Smart fee not initialized yet. This usually takes a few blocks...)
1 lower - fee: 0.00019988 btc/kb Estimated to begin confirmation within 2 blocks.
lowest - fee: 0.00007789 btc/kb

As you can see the 2nd fastest option is 20 times higher than the fastest. Even the lowest setting is higher than the fastest. It matches your TX perfectly (fee in satoshi = size in bytes). The TX itself is fine, its just that there are so many transactions that bitcoin core cant determine how high a fee should be for your transaction to be in the next block. Since it cant work out a value it falls back to the default fee. Sadly, this is currently too low. Im afraid you have to wait a bit. Keep bitcoin core open it will rebroadcast your transaction to make sure the network does not forget about it. You send spend a relativly high amount (~0.44 btc) chances are you will get a confirmation within the next 1-2 days. This is because higher value inputs get higher priority over time.

insertcoin1

newbie

Activity: 4

Merit: 0

Quote from: InvoKing on December 03, 2015, 12:41:07 PM

You mean this https://blockchain.info/tx/55ad22cc23dd04b5654caad77634c79ced9505f2471566e9a79707eaba66a67b ?
I see that the fees here are too low tho: 0.00000226 BTC..
Besides,for your other transaction sent today, this is also true

Quote from: ranochigo on December 03, 2015, 11:48:51 AM

Based on shorena's node, the mempool size is relatively big right now, http://213.165.91.169/pic/mempool24h_v2.png Most of the recent blocks are quite big as well.

I used Bitcoin-QT wallet and set the fee through there, setting it on "fast" which was the highest setting available. Never really used manual fee setting, but as I understand the network is on overflow at the moment.

pedrog

legendary

Activity: 2786

Merit: 1031

Quote from: Next BillGates on December 03, 2015, 12:24:31 PM

Quote from: pedrog on December 03, 2015, 12:08:55 PM

Bitcoin network is congested and cannot handle the current amount of transactions.

Check: https://blockchain.info/pt/unconfirmed-transactions

If you want fast transactions you need to use some other payment method or other cryptocurrency.

Bitcoin cannot even handle these transactions? Shocked

or the blockchain.info If this, then most of the transactions might gets struck not only the OP's transaction. IMO, OP might have some other problem.

Bitcoin network can't handle current transaction volume.

You can check stats in other websites:

https://www.blocktrail.com/BTC

https://blockr.io/charts

InvoKing

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✋(▀Ĺ̯ ▀-͠ )

You mean this https://blockchain.info/tx/55ad22cc23dd04b5654caad77634c79ced9505f2471566e9a79707eaba66a67b ?
I see that the fees here are too low tho: 0.00000226 BTC..
Besides,for your other transaction sent today, this is also true

Quote from: ranochigo on December 03, 2015, 11:48:51 AM

Based on shorena's node, the mempool size is relatively big right now,

Most of the recent blocks are quite big as well.

insertcoin1

newbie

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Merit: 0

Quote from: shorena on December 03, 2015, 11:45:44 AM

Quote from: insertcoin1 on December 03, 2015, 11:35:09 AM

Hey peps,

3rd transaction in a row is taking ages. Have set it to a recommended fee, and on blockchain always say's it's High Priority. However 1 transaction took around 20 hours and the other 2 are still stuck one with 24 hours past other one with 9+ hours. Any ideas? Huh

Thanks!

Recommended by whom? Does it use unconfirmed inputs? Does it create dust outputs?

Alternativly: would you share a transaction id?

Transaction id: 55ad22cc23dd04b5654caad77634c79ced9505f2471566e9a79707eaba66a67b-000

Next BillGates

full member

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Quote from: pedrog on December 03, 2015, 12:08:55 PM

Bitcoin network is congested and cannot handle the current amount of transactions.

Check: https://blockchain.info/pt/unconfirmed-transactions

If you want fast transactions you need to use some other payment method or other cryptocurrency.

Bitcoin cannot even handle these transactions? Shocked

or the blockchain.info If this, then most of the transactions might gets struck not only the OP's transaction. IMO, OP might have some other problem.

pedrog

legendary

Activity: 2786

Merit: 1031

Bitcoin network is congested and cannot handle the current amount of transactions.

Check: https://blockchain.info/pt/unconfirmed-transactions

If you want fast transactions you need to use some other payment method or other cryptocurrency.

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: rally on December 03, 2015, 11:49:51 AM

I am also re downloading my btc wallet en takes now already about 5 days before every block is downloaded. At this moment i 'm still 5 weeks behind. Don't think this will be downloaded before midnight at the tempo of the last days.
Why does that go so slowly?

Dont hijack threads. Make your own, your issue has nothing to do with that of OP. 5 days per block sounds like bullshit to me, it would mean you are downloading since ~3000 b.c. To give you a short answer: If you sync "slow" its because one of the following reasons:

#1 your disk is slow
#2 your internet connection is slow
#3 your CPU is slow
#4 the connection to other nodes are bad, which most of the time is because of #2

Topic: Transactions take very long WHY? (Read 1662 times)