Why blockchain taking days for BTC confirmation? - page 2.

MingLee

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Quote from: ohgud007 on May 14, 2017, 03:35:08 AM

Any idea why BTC confirmation taking days to confirm?
Sometime BTC get refunded to Sender....Should we use high fee like advance option for send BTC?

if i want to send 1500$ BTC then how much network Fee should i use to make BTC confirmation fast?

If you're sending $1.5k in BTC just use whatever standard transaction fee is being offered plus maybe a dozen satoshi per byte. It's unlikely you have to shell out a ton of Bitcoin just to get that moved through the blockchain.
Having a point where a transaction that fails to gain at least 1 confirmation gets reset from the blockchain would be a neat idea but it opens up issues and it unlikely to work properly.

FlamingFingers

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Quote from: JeffBrad12 on May 14, 2017, 06:39:31 PM

Quote from: ohgud007 on May 14, 2017, 03:35:08 AM

if i want to send 1500$ BTC then how much network Fee should i use to make BTC confirmation fast?

Over 65k satoshi if you want to get a confirmation less than 10 minutes.
Over 260satoshis/byte.

No one can determine the proper fees for a specific transaction like this $1,500 in bitcoin, unless they see how much the size of the inputs and outputs data. Hence, saying 'pay (A) amount of bitcoin as fees to get faster confirmation' is not valid. It solely and only depends on the data size, not the amount of money transacted, nor the wallet's 'fixed/recommended' fees (as it seems to be broken somehow).

JeffBrad12

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Quote from: ohgud007 on May 14, 2017, 03:35:08 AM

Any idea why BTC confirmation taking days to confirm?

The block can't be validating a lot of the transaction. The unconfirmed transaction gets stuck on queue due to the increase transaction fees.

Quote from: ohgud007 on May 14, 2017, 03:35:08 AM

Sometime BTC get refunded to Sender....Should we use high fee like advance option for send BTC?

If some of your amounts back to the sender or your wallet, And you will be able to replace your fees with the second transaction.

Quote from: ohgud007 on May 14, 2017, 03:35:08 AM

if i want to send 1500$ BTC then how much network Fee should i use to make BTC confirmation fast?

Over 65k satoshi if you want to get a confirmation less than 10 minutes.
Over 260satoshis/byte.

cotton ball

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If the mempool is flooded, the transaction will be pending continuously until the transaction amount is under 100k, for me "fee" is not the important factor, unless we do need the hasty transaction at that time. All transfers will still be processed regardless of the amount of fee you spend. All will be well processed and you don't have to worry about this, this classic problem occurs because the blocksize is still about 1 mb.

dothebeats

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Satoshi / byte is your best friendwhen it comes to calculating the fee you would need to pay, also viabtc and https://bitcoinfees.21.co if you are quite unsure on what to oay to get your tx confirmed within the next block. Currently there are 80,000+ unconfirmed tx in the mempool, and if you pay 223 satoshi / byte on your tx, you would have it confirmed within the next block.

SONG GEET

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Quote from: ohgud007 on May 14, 2017, 03:35:08 AM

if i want to send 1500$ BTC then how much network Fee should i use to make BTC confirmation fast?

It completely depend upon your size of transaction, if you have received this 1500$ in several batches than you may end up paying more in fees. But if you have received this within one transaction and would like to send them out, you have to pay way lower than 1$ in terms of bitcoin as fee.

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The network isn't necessarily slow, just congested.

It's like a road with thousands of cars of traffic which are barely moving, but if you pay a bit more you can hire a helicopter and take the fast track. Basically, there's too many transactions but higher fees give you the priority and then your transaction will be fast.

You can use the recommended fees and you'll end up with fast confirmations. Anything over 150 satoshi/byte or so will most likely be confirmed within a day anyway.

mindrust

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Quote from: ohgud007 on May 14, 2017, 03:35:08 AM

Any idea why BTC confirmation taking days to confirm?
Sometime BTC get refunded to Sender....Should we use high fee like advance option for send BTC?

if i want to send 1500$ BTC then how much network Fee should i use to make BTC confirmation fast?

Yes, if it takes too long, send your bitcoins with a higher fee and you won't have a problem. I know it sucks but that's how it is now.

You can check the current fees here: https://bitcoinfees.21.co/

If you send your bitcoins and pay 201-220 bytes/satoshi as a fee, they will get through almost instantly. These numbers can get higher or lower depending on the current situation, so always check the website i wrote above before sending anything.

amacar2

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- Currently mempool is full with unconfirmed transactions and many believe that those transactions are actually spams created to attack bitcoin network.

- Yes increasing fee for your transaction will certainly help you to get faster confirmation.

- Fee depends upon size of your transaction (depends on number of input and output) and not upon how much you are sending out in terms of bitcoin or fiat.

ohgud007

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Any idea why BTC confirmation taking days to confirm?
Sometime BTC get refunded to Sender....Should we use high fee like advance option for send BTC?

if i want to send 1500$ BTC then how much network Fee should i use to make BTC confirmation fast?

Topic: Why blockchain taking days for BTC confirmation? - page 2. (Read 2509 times)