Why does bitcoin confirmation time takes hours or even longer? - page 2.

JeffBrad12

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Leading Crypto Sports Betting & Casino Platform

Quote from: Pervy Sage on November 10, 2016, 01:32:16 PM

Exactly as the title says, I have received some 0.02 btc today and it
takes longer than expected before it is confimed.

Can someone explain how the bitcoin transaction works and why the
confirmation time takes longer than usual?

Thnx

The confirmation will take more time if your transaction will get more delay caused by block for taking your transaction to get a confirmation over 3 blocks scale.
http://www.ibtimes.com/bitcoins-big-problem-transaction-delays-renew-blockchain-debate-2330143

panju1

legendary

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Merit: 1000

At some point, the demand will get high that confirmation times will be hours for most users.
The fees will increase to a point where users will rather drop out rather than try and send bitcoins.
Hopefully, we see some steps to increase capacity before that happens.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Quote from: NorrisK on November 10, 2016, 01:49:15 PM

You can check the number of unconfirmed transactions here:

https://blockchain.info/unconfirmed-transactions

If the number is rising, it will take longer to get your transactions included, even if you use sufficient fees.

Also check here to see when the last blocks were mined:

https://blockchain.info/

If the last blocks were long ago, this means blocks are not being found at normal expected speed and it will take longer to get your transactions included.

This makes sense. I send a higher than the usual BTC.0001 to send to an exchange or to cold storage. But I noticed that when I send from an exchange it tells me that the fee is BTC.0001 to send back to my wallet. This made me think that it is still ok sending Bitcoin using the flat fee of BTC.0001? Or is everyone paying higher fees now?

BitcoinBarrel

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Fill Your Barrel with Bitcoins!

There is some randomness to it. I pay the same fee pretty much all the time between 0.0001 and 0.0002 and sometimes it confirms under 10 minutes and other times it can take half a day. Most of the time it's about 30 minutes to an hour.

Wandering Soul~

sr. member

Activity: 406

Merit: 250

Wolf

Quote from: Pervy Sage on November 10, 2016, 01:32:16 PM

Exactly as the title says, I have received some 0.02 btc today and it
takes longer than expected before it is confimed.

Can someone explain how the bitcoin transaction works and why the
confirmation time takes longer than usual?

Thnx

After you pressed "Send" , your wallet sends the btc's to the bitcoin network and then the miners will verify the transaction.

Miner's fee is like a reward for the miner who mines the block along with your transaction.

Transactions with a higher miner fee usually picks first so the higher the miners fee the fastest a transaction will be confirmed.

NorrisK

legendary

Activity: 1946

Merit: 1007

You can check the number of unconfirmed transactions here:

https://blockchain.info/unconfirmed-transactions

If the number is rising, it will take longer to get your transactions included, even if you use sufficient fees.

Also check here to see when the last blocks were mined:

https://blockchain.info/

If the last blocks were long ago, this means blocks are not being found at normal expected speed and it will take longer to get your transactions included.

Sanshipo

newbie

Activity: 50

Merit: 0

Maybe cause you have a low mining fee?

OmegaStarScream

staff

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Merit: 6152

Quote from: Pervy Sage on November 10, 2016, 01:32:16 PM

Exactly as the title says, I have received some 0.02 btc today and it
takes longer than expected before it is confimed.

Can someone explain how the bitcoin transaction works and why the
confirmation time takes longer than usual?

Thnx

the average time usually is like 10-20 minute to get the first transaction (when It gets included into a new block) and It's pretty much depends on the fees , the higher you set them , the faster your transaction will be confirmed , of course there is other factors and I'd advice you to check this blog article : https://blog.btc.com/why-do-we-need-to-pay-transaction-fees-and-what-is-the-right-fee-fcf6ee17c072#.6tx8auwus (we could help more If you post the TXID)

Pervy Sage

newbie

Activity: 20

Merit: 0

Exactly as the title says, I have received some 0.02 btc today and it
takes longer than expected before it is confimed.

Can someone explain how the bitcoin transaction works and why the
confirmation time takes longer than usual?

Thnx

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