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Topic: What's going on with BTC transaction times?? - page 2. (Read 1651 times)

legendary
Activity: 3472
Merit: 10611
Proper fee like 5-6$ ? Most transactions probably involve less than 100$ worth of btc, so that's insane.

yeah if you have no idea what bitcoin is and what you are doing, you pay 5-6% fee. otherwise for the rest of us the fees are still $0.4 worst case scenario at the peak of the spam attack. and at normal times it is still less than $0.1
legendary
Activity: 2002
Merit: 1051
ICO? Not even once.
I've been hearing horror stories about transaction times for months. Have I just been lucky??

I've been using Bitcoin for over 4 years, dozens of times a week and I have never had a transaction taking longer than a day. Not even from greedy/terribly setup exchanges with 0 fees. Anecdotal evidence? Sure, but so are the horror stories.

Checking back at the last month my trsansaction fees were 180 satoshis per byte on average and I never had any issues. I don't think I had any transaction taking over 2-3 hours to get confirmed.

But then again I don't use dozens of accounts to send funds from - which all Bitcoin users should understand, along with the fact the Bitcoin is not intended for dust transactions for a long while now (which is completely fine).
hero member
Activity: 2772
Merit: 524
Leading Crypto Sports Betting & Casino Platform
I've moved a few BTC over the last few days and transactions have been lightning fast. Confirms almost immediately. This is the fastest that BTC has ever been for me.

What's going on??
You sent at the right time, Due to the little amount of unconfirmed transaction and combined with reliable fees will make your transaction gets confirmed just in 10 minutes.
I've been hearing horror stories about transaction times for months. Have I just been lucky??
Yes, you have. But it can't be called 100% luck, It depends on the network condition.
If you have tried to make a transaction at the traffic of bitcoin network is quiet.

That's normal if your transaction gets delivered so fast.
hero member
Activity: 532
Merit: 500
Proper fee like 5-6$ ? Most transactions probably involve less than 100$ worth of btc, so that's insane.
legendary
Activity: 1288
Merit: 1000
I've been hearing horror stories about transaction times for months. Have I just been lucky??
These horror stories are usually told by newbies, or users completely unaware of how bitcoin transaction works.
They use old version of wallet or manually decrease fee to the lowest possible amount and as result we have massive number of underpaid transactions.
I am not saying that current high fees are OK, they certainly aren't but with proper fee your transaction will be confirmed very fast.
sr. member
Activity: 454
Merit: 250
This industry is pure fiction
There's a funny correlation between BU pretty much failing and the number of unconfirmed transactions going down right after. It's almost as if the network was spammed deliberately to promote BU...

you could try to spin it that way.
but https://bitcoinfees.21.co/ tells everybody who is curious about that level of supplied fees - has been rising on average. once supplying 100 Satoshis has been a completely sufficient choice, to get through.
now that drags you below 1380 minutes delay, up to infinity.

I only track the number of unconfirmed transactions (https://blockchain.info/q/unconfirmedcount) for a long time, several times a day and it definitely went down. Now it's at 19k and it was around up to 80k for a while and then a rapid drop.

Graph: https://blockchain.info/charts/mempool-count?timespan=30days
Yes, good chart. Looks like I was sending BTC during a dip in transactions.
legendary
Activity: 2380
Merit: 1085
Money often costs too much.
I agree, just had a transaction with a recommended $5 fee due to it being my dust collecting address. So yeah pretty big, so I altered it to 4000 satoshi and it went through pretty much straight away. I was expecting it to get stuck for a week and refunded, so was pleasantly surprised.

What we are calling "dust" today could be "dollar cents" tomorrow. So there must be a way to send for near-to-zero-fees and getting through eventually. Trading time vs. costs so these sorts of transactions would have to "pay in time".

I only track the number of unconfirmed transactions (https://blockchain.info/q/unconfirmedcount) for a long time, several times a day and it definitely went down. Now it's at 19k and it was around up to 80k for a while and then a rapid drop.

Graph: https://blockchain.info/charts/mempool-count?timespan=30days

That is a nifty chart. I can compare with my visual impression of logged in people at Poloniex, either from trollbox activity or their own numbers stated, and acknowledge there ARE more people using crypto. Definitely.
But that number ranks up slow and steady almost linear to time. Means mempool fill levels got gamed, and a distinct level of required fees would squench that afford.
hero member
Activity: 603
Merit: 500
I agree, just had a transaction with a recommended $5 fee due to it being my dust collecting address. So yeah pretty big, so I altered it to 4000 satoshi and it went through pretty much straight away. I was expecting it to get stuck for a week and refunded, so was pleasantly surprised.
sr. member
Activity: 503
Merit: 250
I think we should just be glad that the transactions are being fast right now,
Hope that it would stay that way even if the number of people who are using btc is now enormous.
newbie
Activity: 21
Merit: 0
Only noticed it recently
sr. member
Activity: 686
Merit: 320
The most telling chart is the one year one. Simply no real issue until Oct 2016.
legendary
Activity: 2002
Merit: 1051
ICO? Not even once.
There's a funny correlation between BU pretty much failing and the number of unconfirmed transactions going down right after. It's almost as if the network was spammed deliberately to promote BU...

you could try to spin it that way.
but https://bitcoinfees.21.co/ tells everybody who is curious about that level of supplied fees - has been rising on average. once supplying 100 Satoshis has been a completely sufficient choice, to get through.
now that drags you below 1380 minutes delay, up to infinity.

I only track the number of unconfirmed transactions (https://blockchain.info/q/unconfirmedcount) for a long time, several times a day and it definitely went down. Now it's at 19k and it was around up to 80k for a while and then a rapid drop.

Graph: https://blockchain.info/charts/mempool-count?timespan=30days
member
Activity: 65
Merit: 10
getting slower?   Grin
legendary
Activity: 2380
Merit: 1085
Money often costs too much.
There's a funny correlation between BU pretty much failing and the number of unconfirmed transactions going down right after. It's almost as if the network was spammed deliberately to promote BU...

you could try to spin it that way.
but https://bitcoinfees.21.co/ tells everybody who is curious about that level of supplied fees - has been rising on average. once supplying 100 Satoshis has been a completely sufficient choice, to get through.
now that drags you below 1380 minutes delay, up to infinity.
legendary
Activity: 2002
Merit: 1051
ICO? Not even once.
There's a funny correlation between BU pretty much failing and the number of unconfirmed transactions going down right after. It's almost as if the network was spammed deliberately to promote BU...
sr. member
Activity: 454
Merit: 250
This industry is pure fiction
I've moved a few BTC over the last few days and transactions have been lightning fast. Confirms almost immediately. This is the fastest that BTC has ever been for me.

What's going on??

I've been hearing horror stories about transaction times for months. Have I just been lucky??
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