Author

Topic: What will happen to u confirmed transactions? (Read 692 times)

legendary
Activity: 3038
Merit: 4418
Crypto Swap Exchange
December 03, 2015, 09:50:18 AM
#13
Would just like to point out that you are correct that 6+ hours is a long time for a simple local transaction, but it is an amazing speed for an international transaction.  Especially considering that the network is still in beta, was experiencing an attack, and that the fee paid was less than four cents.

This exactly. Also to be honest, 6+ hours is not long time even for 'simple local transaction' as most European countries still take one banking day even to transfer money inside the country if banks are different. I am Finnish and for example in Finland if you transfer from Bank 1 to Bank 2 (both banks operating in Finland) it will take 1-3 banking days. Regular SEPA transfer. In Finland we can only make instant transfers within the same bank.
Bitcoin transactions should take maximal 20-30 minutes to confirm. And comared to bank, it is really quick. Apparantly there was an attack on the blockchain, how can you forcome that your transaction won't get stuck?
Increase fee per transaction to 20k satoshi?30k satoshi?
It totally depends on the fees and/or priority. With 0 fees, my transaction waited for over 5 days and it didn't confirm so I double spent it. Increasing the fee could work but it would only work if the attacker doesn't pay a higher fee than you. For example, in the OPSig attacks, the attacker can spend lesser fee while getting miners to accept less legit transactions.
legendary
Activity: 1232
Merit: 1017
Would just like to point out that you are correct that 6+ hours is a long time for a simple local transaction, but it is an amazing speed for an international transaction.  Especially considering that the network is still in beta, was experiencing an attack, and that the fee paid was less than four cents.

This exactly. Also to be honest, 6+ hours is not long time even for 'simple local transaction' as most European countries still take one banking day even to transfer money inside the country if banks are different. I am Finnish and for example in Finland if you transfer from Bank 1 to Bank 2 (both banks operating in Finland) it will take 1-3 banking days. Regular SEPA transfer. In Finland we can only make instant transfers within the same bank.
Bitcoin transactions should take maximal 20-30 minutes to confirm. And comared to bank, it is really quick. Apparantly there was an attack on the blockchain, how can you forcome that your transaction won't get stuck?
Increase fee per transaction to 20k satoshi?30k satoshi?
full member
Activity: 210
Merit: 100
Would just like to point out that you are correct that 6+ hours is a long time for a simple local transaction, but it is an amazing speed for an international transaction.  Especially considering that the network is still in beta, was experiencing an attack, and that the fee paid was less than four cents.

This exactly. Also to be honest, 6+ hours is not long time even for 'simple local transaction' as most European countries still take one banking day even to transfer money inside the country if banks are different. I am Finnish and for example in Finland if you transfer from Bank 1 to Bank 2 (both banks operating in Finland) it will take 1-3 banking days. Regular SEPA transfer. In Finland we can only make instant transfers within the same bank.
hero member
Activity: 533
Merit: 500
^Bitcoin Library of Congress.
i need to say that a waiting for 6+ hours to get confirmation is pure shit..
and that is something that needs to be changed.. if its by ddos attack something needs to be made..
like this im waiting for longer then transfering fiat money.. xD
Would just like to point out that you are correct that 6+ hours is a long time for a simple local transaction, but it is an amazing speed for an international transaction.  Especially considering that the network is still in beta, was experiencing an attack, and that the fee paid was less than four cents.
legendary
Activity: 2674
Merit: 1083
Legendary Escrow Service - Tip Jar in Profile
November 29, 2015, 09:21:02 PM
#9

There is a DOS attack against the blockchain going on right now.  It's causing transactions to take longer than usual to confirm.

In order to pull of the attack, the attacker has to pay a higher than average transaction fee.  They will eventually run out of money and the attack will stop, but in the meantime you can send your transactions with higher fees to make sure that your transactions get confirmed instead of the attacker's (this will have the added benefit of forcing the attacker to spend through their bitcoins even faster to maintain the attack).

Another attack...last 6 blocks (edit: and counting) have been hit.

Example: #385910 with 19125 fake sigOps.  The block is only 200KB despite a 5MB backlog (according to tradeblock).  It seems this attack is very effective.

Edit:
#385911 unaffected (enough high-fee legit txs)
#385912 = 18990 fake sigOps, 280KB.
#385913 = 18945 fake sigOps, 281KB.
#385914 = 17325 fake sigOps, 470KB.
...etc.



I think it's not only that. The last days the bitcoin price was relatively volatile which mostly leads to a lot more transactions which then leads to full blocks and legit transactions not confirming. I found this website being valuable for checking the status: http://statoshi.info/dashboard/db/transactions
So how more people get into btc, more transactions will come and when blocks are full, u just wait till the other block? So sending btc will take longer in the future? Even if u pay more fee, if everyone is going to pay more, then it is useless?

You can wait for the other block but in the meanwhile already new transactions came to the pool that are worth more than 1MB. So it is not said your transaction will be included at all.

And yes that will get worse as long as the limit is not raised. Though there are some people, unfortunately a lot bitcoin developers too, that want it that way. They want to let people use the lightning network and they want higher fees. It's completely nuts to force bitcoins into such limits when you go deeper in that topic.

Though i'm not so very much concerned. At one point in time bitcoiners will raise their voice in favor of raising the blocksize limit. Developers will follow or have to leave the coding work to other devs.
member
Activity: 116
Merit: 10
Poor guy next door.
November 29, 2015, 03:57:16 PM
#8
i need to say that a waiting for 6+ hours to get confirmation is pure shit..
and that is something that needs to be changed.. if its by ddos attack something needs to be made..
like this im waiting for longer then transfering fiat money.. xD
legendary
Activity: 1232
Merit: 1017
November 29, 2015, 03:47:27 PM
#7

There is a DOS attack against the blockchain going on right now.  It's causing transactions to take longer than usual to confirm.

In order to pull of the attack, the attacker has to pay a higher than average transaction fee.  They will eventually run out of money and the attack will stop, but in the meantime you can send your transactions with higher fees to make sure that your transactions get confirmed instead of the attacker's (this will have the added benefit of forcing the attacker to spend through their bitcoins even faster to maintain the attack).

Another attack...last 6 blocks (edit: and counting) have been hit.

Example: #385910 with 19125 fake sigOps.  The block is only 200KB despite a 5MB backlog (according to tradeblock).  It seems this attack is very effective.

Edit:
#385911 unaffected (enough high-fee legit txs)
#385912 = 18990 fake sigOps, 280KB.
#385913 = 18945 fake sigOps, 281KB.
#385914 = 17325 fake sigOps, 470KB.
...etc.



I think it's not only that. The last days the bitcoin price was relatively volatile which mostly leads to a lot more transactions which then leads to full blocks and legit transactions not confirming. I found this website being valuable for checking the status: http://statoshi.info/dashboard/db/transactions
So how more people get into btc, more transactions will come and when blocks are full, u just wait till the other block? So sending btc will take longer in the future? Even if u pay more fee, if everyone is going to pay more, then it is useless?
member
Activity: 84
Merit: 10
November 29, 2015, 03:43:02 PM
#6
fee's were to low, i've been waiting for 20+ blocks myself today without a confirm yet
legendary
Activity: 2674
Merit: 1083
Legendary Escrow Service - Tip Jar in Profile
November 29, 2015, 03:42:14 PM
#5

There is a DOS attack against the blockchain going on right now.  It's causing transactions to take longer than usual to confirm.

In order to pull of the attack, the attacker has to pay a higher than average transaction fee.  They will eventually run out of money and the attack will stop, but in the meantime you can send your transactions with higher fees to make sure that your transactions get confirmed instead of the attacker's (this will have the added benefit of forcing the attacker to spend through their bitcoins even faster to maintain the attack).

Another attack...last 6 blocks (edit: and counting) have been hit.

Example: #385910 with 19125 fake sigOps.  The block is only 200KB despite a 5MB backlog (according to tradeblock).  It seems this attack is very effective.

Edit:
#385911 unaffected (enough high-fee legit txs)
#385912 = 18990 fake sigOps, 280KB.
#385913 = 18945 fake sigOps, 281KB.
#385914 = 17325 fake sigOps, 470KB.
...etc.



I think it's not only that. The last days the bitcoin price was relatively volatile which mostly leads to a lot more transactions which then leads to full blocks and legit transactions not confirming. I found this website being valuable for checking the status: http://statoshi.info/dashboard/db/transactions
legendary
Activity: 3472
Merit: 4801
November 29, 2015, 03:40:37 PM
#4

There is a DOS attack against the blockchain going on right now.  It's causing transactions to take longer than usual to confirm.

In order to pull of the attack, the attacker has to pay a higher than average transaction fee.  They will eventually run out of money and the attack will stop, but in the meantime you can send your transactions with higher fees to make sure that your transactions get confirmed instead of the attacker's (this will have the added benefit of forcing the attacker to spend through their bitcoins even faster to maintain the attack).

Another attack...last 6 blocks (edit: and counting) have been hit.

Example: #385910 with 19125 fake sigOps.  The block is only 200KB despite a 5MB backlog (according to tradeblock).  It seems this attack is very effective.

Edit:
#385911 unaffected (enough high-fee legit txs)
#385912 = 18990 fake sigOps, 280KB.
#385913 = 18945 fake sigOps, 281KB.
#385914 = 17325 fake sigOps, 470KB.
...etc.

legendary
Activity: 1232
Merit: 1017
hero member
Activity: 924
Merit: 1005
4 Mana 7/7
November 29, 2015, 02:46:10 PM
#2
Post TXid, at any rate it must've been low fees
legendary
Activity: 1232
Merit: 1017
November 29, 2015, 02:44:31 PM
#1
Please answer that question, my friend has a withdrawal and it is still unconfirmed after many hours, what does this mean?
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