The situation is getting worse as i see. As stated by a lot of people, the transactions are increasing because every bitcoin holder is trying to sell a portion of their bitcoins seeing the big price, and because of that, the network is getting even more overloaded with unconfirmed transactions.
In my case, i have tried accelerators as well from this forum or outside, nothing worked so far. I'm not actually desperate for getting profits or selling because of the high price, but i need the money urgently. I was also thinking of making another transaction leaving the current transaction in the network and let it get confirmed later on, but the fees are bothering me again. I'm having to pay around $50 for the transaction which a lot for me.
Topic: Unconfirmed transactions || What is the reason? - page 2. (Read 493 times)
To be honest, i have never seen the network being so lazy when it comes on transactions. This is the first time for me to wait this much for a transaction to be confirmed after paying the recommended fees for it. There are more than 220k unconfirmed transactions in the network right now and increasing every second. Why are the transactions not getting confirmed? What is the reason for the network to get stuck this much?
Each block can only handle so many transactions, SegWit was introduced to alleviate these problems but it's obviously not enough, bigger blocks or offchain solutions are required or this is going to continue indefinitely.
Are you refering to the Bitcoin network or are you getting this mixed up with the Ether network? I have had no problems with Bitcoin.
the definition of having a problem with bitcoin is different among people these days!
of course we never have any issues with bitcoin if we pay a higher fee. it will still be confirmed within 10 minutes on average meaning next block that is found.
but people usually pay less fees by mistake or because they are not willing to pay high fees and get stuck and call that "problem".
compared to ethereum it is not the same. you both have to pay higher amount of money and get stuck. and also people are having issues with propagating their transactions which are disappearing! not to mention all the problems with syncing with the network.
The more transaction it means more competition especially for miner to select the highest priority.
If you see bitcoin value , it's reasonable to happen because every people are actively trade bitcoin because of this uptrend !
If you see bitcoin value , it's reasonable to happen because every people are actively trade bitcoin because of this uptrend !
When blocks are full, what naturally forms is a fee market which displays the supply and demand for space in the blockchain.
Because the trading volume has increased massively over the last few days, there are a lot of people trying to send to exchanges and back, but since the supply of space on the blockchain is still the same, that means that the fees rise until the correct number of transactions are being sent again.
When there's a sudden rise it results in a large number of unconfirmed transactions, but this is usually temporary until the fee market adjusts.
Because the trading volume has increased massively over the last few days, there are a lot of people trying to send to exchanges and back, but since the supply of space on the blockchain is still the same, that means that the fees rise until the correct number of transactions are being sent again.
When there's a sudden rise it results in a large number of unconfirmed transactions, but this is usually temporary until the fee market adjusts.
Are you refering to the Bitcoin network or are you getting this mixed up with the Ether network? I have had no problems with Bitcoin.
Simple, when there are 51% of your transaction confirmation. Your transaction is successful. However. With bitcoin technology is quite backward. Their processing speed is slow. It may take a few days for the transaction to take place
On my opinion regarding that situation, the system is getting slow, due to the value of bitcoin getting high and there are massive transactions that can't carried on the system. It should takes time to transact, having millions of transaction all over the world. Hopefully, that someday the possible situation will not be happened in order to have fast and easy transaction and no one will waiting too long like there shares and payments of bitcoin.
Due to slow bitcoin processing speed. And when there are too many transactions, just like getting stuck. Your confirmation must wait. It may take a few days. but it will certainly succeed
Simple, when there are 51% of your transaction confirmation. Your transaction is successful. However. With bitcoin technology is quite backward. Their processing speed is slow. It may take a few days for the transaction to take place
Its similar to the situation where the bitcointalk.org crashes sometimes and you are not able to log in log out or to even do anything, well since the whales are investing and People are buying and selling at a much faster rate because of the high price thats dominating the crypto world the crowd that its handling is suddenly increased, and as we all know how there is this 1 Mb limit on the block size so its a little harsh for this small block size to really implement that much transactions at such a fast rate.
Increasing the block size would only increase the burden on the security aspects thus there is nothing that we could do about it, you should try a transaction accelerator thats obviously well known and renown.
Increasing the block size would only increase the burden on the security aspects thus there is nothing that we could do about it, you should try a transaction accelerator thats obviously well known and renown.
People wants to make exit by selling their bitcoin at current high price and there are also many who want to take their bitcoin out from exchange platforms because during pumps like this exchanges can get hacked (like bitfinex before) and some might get down due to DDOS attack (coinbase yesterday).
People are willing to pay very high fee to get faster confirmation so the one with lower fees (which used to be enough before) are congesting blokchain. Only 1 MB of transactions can be included in 1 block every 10 minutes but total transaction is way higher than that 1 mb in 10 minutes.
People are willing to pay very high fee to get faster confirmation so the one with lower fees (which used to be enough before) are congesting blokchain. Only 1 MB of transactions can be included in 1 block every 10 minutes but total transaction is way higher than that 1 mb in 10 minutes.
Yes this is the main reason and I do agree with you. People are in a hurry to sell their BTC because of th recent ATH of bitcoin price. I too did sell a portion of my bitcoin which I save but still I am very positive that it will go higher in the future. As of now, seems it is consolidating and will find another momentum in the coming days.
Mine is in there for 15 days. Why aren't zero fee transactions deducted from the total backlog? They literally cost nothing to produce.
People wants to make exit by selling their bitcoin at current high price and there are also many who want to take their bitcoin out from exchange platforms because during pumps like this exchanges can get hacked (like bitfinex before) and some might get down due to DDOS attack (coinbase yesterday).
People are willing to pay very high fee to get faster confirmation so the one with lower fees (which used to be enough before) are congesting blokchain. Only 1 MB of transactions can be included in 1 block every 10 minutes but total transaction is way higher than that 1 mb in 10 minutes.
People are willing to pay very high fee to get faster confirmation so the one with lower fees (which used to be enough before) are congesting blokchain. Only 1 MB of transactions can be included in 1 block every 10 minutes but total transaction is way higher than that 1 mb in 10 minutes.
it is a pretty common thing that whenever bitcoin price is moving like this, people make more transactions, it doesn't matter up or down as long as it is a big movement. some will be selling their coins and some are buying and moving it out of exchanges.
and now that the adoption has grown too big, obviously there are a lot more people who are making a lot more transactions but the block space is still the same as before so the number of unconfirmed transactions grows this big.
and now that the adoption has grown too big, obviously there are a lot more people who are making a lot more transactions but the block space is still the same as before so the number of unconfirmed transactions grows this big.
To be honest, i have never seen the network being so lazy when it comes on transactions. This is the first time for me to wait this much for a transaction to be confirmed after paying the recommended fees for it. There are more than 220k unconfirmed transactions in the network right now and increasing every second. Why are the transactions not getting confirmed? What is the reason for the network to get stuck this much?
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