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Topic: Why is fee still high (6000 unconfirmed transactions) (Read 2342 times)

brand new
Activity: 0
Merit: 519
My transaction is stuck for over 2 hrs for a decent fee. Why are so many transactions unconfirmed? My transactions usually get confirmed within an hour at worst. Is this a spam attack again like 2 weeks back r some different issue? I dont see any topics to follow this time.
I never encountered this problem. Every transaction I sent, with reallllllly decent fee got confirmed in in the next mined block.
5 hours ago I withdrew bitcoin from online service with 20k satoshi fee and transaction was processed instantly.
Are you sure your fee was good enough?

Same here, and waiting for less than an hour I did not consider it as a delay. Sometimes less than 30 mins and its already fine. Usually fees range from 20,000 sats to 50,000 sats in some exchanges.

Just wait , as long as your transaction is on the blockchain already I think it will not lost.


I cannot understand why you claim that fees range from exchange to exchange. If I'm not mistaken I believe is not matter what exchange anyone uses but what is the transaction size and how many are the unconfirmed transactions (network load), except if is a service which offered from some exchanges where customers pay a standard fee regardless the transaction size. Unfortunately, these days the fees are very high from 60-70 s/byte to 140-160s/byte if someone wants a next block confirmation.

oh it does matter which exchange.
i guess he meant user transfer fees range from 20k to 50k, well from 10k on poloniex.
polo aggregates user payments and applies adaptive fee,
which garantees not superlow yet comfortable transfer delay,
some exchanges (many actually) don't have that mech, and things look ugly there these days.

an example of typical poloniex transfer:
https://blockchain.info/tx/7d6eb1732f0abbedb9846f47d15dfef573555385b957ea3b1a5e3b9ebfe4cbf3
sr. member
Activity: 406
Merit: 252
Veni, Vidi, Vici
My transaction is stuck for over 2 hrs for a decent fee. Why are so many transactions unconfirmed? My transactions usually get confirmed within an hour at worst. Is this a spam attack again like 2 weeks back r some different issue? I dont see any topics to follow this time.
I never encountered this problem. Every transaction I sent, with reallllllly decent fee got confirmed in in the next mined block.
5 hours ago I withdrew bitcoin from online service with 20k satoshi fee and transaction was processed instantly.
Are you sure your fee was good enough?

Same here, and waiting for less than an hour I did not consider it as a delay. Sometimes less than 30 mins and its already fine. Usually fees range from 20,000 sats to 50,000 sats in some exchanges.

Just wait , as long as your transaction is on the blockchain already I think it will not lost.


I cannot understand why you claim that fees range from exchange to exchange. If I'm not mistaken I believe is not matter what exchange anyone uses but what is the transaction size and how many are the unconfirmed transactions (network load), except if is a service which offered from some exchanges where customers pay a standard fee regardless the transaction size. Unfortunately, these days the fees are very high from 60-70 s/byte to 140-160s/byte if someone wants a next block confirmation.
hero member
Activity: 1414
Merit: 505
Backed.Finance
My transaction is stuck for over 2 hrs for a decent fee. Why are so many transactions unconfirmed? My transactions usually get confirmed within an hour at worst. Is this a spam attack again like 2 weeks back r some different issue? I dont see any topics to follow this time.
I never encountered this problem. Every transaction I sent, with reallllllly decent fee got confirmed in in the next mined block.
5 hours ago I withdrew bitcoin from online service with 20k satoshi fee and transaction was processed instantly.
Are you sure your fee was good enough?

Same here, and waiting for less than an hour I did not consider it as a delay. Sometimes less than 30 mins and its already fine. Usually fees range from 20,000 sats to 50,000 sats in some exchanges.

Just wait , as long as your transaction is on the blockchain already I think it will not lost.
hero member
Activity: 1190
Merit: 534
The current figure of the unconfirmed transaction is 44,000+ so it is likely to remain high fees in order to get the transaction confirmed. I am not sure but the frequency of transactions backlog has increased these days. If someone is willing to get his transaction confirmed then he should either pay high fees for the transaction (according to the network) or wait for the transaction backlog to get over. It’s not a very good thing for bitcoin IMO.
hero member
Activity: 560
Merit: 502
My transaction is stuck for over 2 hrs for a decent fee. Why are so many transactions unconfirmed? My transactions usually get confirmed within an hour at worst. Is this a spam attack again like 2 weeks back r some different issue? I dont see any topics to follow this time.
I never encountered this problem. Every transaction I sent, with reallllllly decent fee got confirmed in in the next mined block.
5 hours ago I withdrew bitcoin from online service with 20k satoshi fee and transaction was processed instantly.
Are you sure your fee was good enough?
hero member
Activity: 924
Merit: 506
I'm happy when I see more than 20k unconfirmed transactions, but why? because it is a sign of success and functionality of the network.
Whenever you see empty mempool run for the hills, amazingly bitcoin surpassed Satoshi's expectations.
legendary
Activity: 2184
Merit: 1069
and how d'you like this ?

https://blockchain.info/tx/f2eea823f3c36478de5d91c04b9964d85db4ace44234c6a56a9bc34b3f6b0cc4

right now is UTC 23:10 2017-02-07, still unconfirmed

Too bad for you. I computed it and you paid 61sats per bytes and it still took you this long. I made a transaction just this morning and I paid 65 sats per bytes and it got confirmed within 20 minutes. I guess I just got lucky or that is the standard fee for now.
legendary
Activity: 3136
Merit: 1024
Leading Crypto Sports Betting & Casino Platform
My transaction is stuck for over 2 hrs for a decent fee. Why are so many transactions unconfirmed? My transactions usually get confirmed within an hour at worst. Is this a spam attack again like 2 weeks back r some different issue? I dont see any topics to follow this time.

It looks like spam attack but massive adoption was making the blocks are so difficult to accommodate all of the transaction. some countries with high inflation are trying to use bitcoin become a way to exit from his problem(outside of the government instruction).
https://blockchain.info/unconfirmed-transactions
legendary
Activity: 840
Merit: 1000
My transaction is stuck for over 2 hrs for a decent fee. Why are so many transactions unconfirmed? My transactions usually get confirmed within an hour at worst. Is this a spam attack again like 2 weeks back r some different issue? I dont see any topics to follow this time.
sr. member
Activity: 434
Merit: 250
I think the issue really should be resolved considering the future bitcoin must also grow well, bitcoin is supposed to be a means of payment transactions quickly and does not take too much FEE
legendary
Activity: 2912
Merit: 1852
BTC now at 71278 Unconfirmed Transactions

So either include an insanely high fee or use an Alternative option ,
if you need it there in a reasonable amount of time.


 Cool


I have a transaction with buy.bitcoin.com/Simplex that is hung-up somewhere (no trx yet, apparently not sent).  My problem is that the send to address will expire in 15 hours...  Not only is it not confirmed, it has not been sent!  7 hours ago I got an email from Simplex saying my BTC would arrive in 20 minutes....

Not only unarrived, unsent!  

Oh, and now 75,000 unconfirmed transactions.  

Then we will see.  I suppose I ought to try and cancel the trx???


Simplex resolved the problem.   Smiley

Still, when there is stress like this on the blockchain, my future actions will be to avoid more complicated (or new) activities.  No new BTC providers, no nothing out of the ordinary.

And pay a high fee for anything "important".

It looks like we all should avoid thinking that the Bitcoin Ecosystem will usually be "routine", so exercise almost extreme caution...
hero member
Activity: 2898
Merit: 520
Leading Crypto Sports Betting & Casino Platform
I dont know about everyone else but I made 3 transactions today and all of them got 3 confirmations in under 30 minutes. I never thought I ever had a transaction happen that fast before.
It based on your fees, but how many your fees dude? I believe if you're trying to put over than the general fees. I mean you was putting the higher fees rather than auto generate fees in your transaction.
Currently over 60k unconfirmed transaction.  Shocked
 
hero member
Activity: 966
Merit: 506
I dont know about everyone else but I made 3 transactions today and all of them got 3 confirmations in under 30 minutes. I never thought I ever had a transaction happen that fast before.

It is just a luck. Sometimes transactions completes within 15 to 20 mins and sometimes even after 2 hours the bitcoin transactions remain unconfirmed. I think it has to do with the whole block and if one person has send low tx fee, it slows down the whole block of transactions.
sr. member
Activity: 406
Merit: 252
Veni, Vidi, Vici
when fee is still high and there are more unconfirmed transactions than a block can include if i pay less fees there are still more transactions with higher fees than mine.

Yes, but more people will begin to respond the same way, starting the process of pulling the average fees back down.
You seem to want both fastest confirmation and lowest fees. You can never have both. You must balance speed and price, there is no other way.

Lower Fees and Faster Confirmations,
I can have both by using LTC (Also controlled by the Chinese) or ETH or another Altcoin.  Cheesy

Locking oneself into one Coin service when there are plenty to choose from , is beyond stupid.
Competition is the only way to make the miners keep the fees lower,
No Competition between coins, then I hope you enjoy being butt-raped on fees, because that is exactly what the greedy miners are going to do to you.

 Cool


I’d never really thought about it that way but I must agree with your view because the last days the transaction fees are very high and the unconfirmed transactions most hours of a day is a nightmare; so I don't want imagine what will happen after a surge in bitcoin's price. Moreover, after many conversations and debate about the scaling issue there is no light in the end of tunnel. Therefore, I see too as the only solution if someone wants to do any micropayment transactions and doesn't like the domination of miners must go with altcoins. 
hero member
Activity: 1190
Merit: 525
CryptoTalk.Org - Get Paid for every Post!
mempool is practically empty now with 6600 https://blockchain.info/unconfirmed-transactions and unless they start spamming again, it will stay empty.

so why are fees still high (140 s/b)?!!
The reason is pretty much clear and obvious that it is due to the high number of traffic that floods the system and that heavy transactions cannot be cope up with the miners due to the limit of 1 mb blocksize. So sometimes even if you pay huge miners fee the transaction is still long to confirm but if you don't set a high fee then it will took much longer.

This situation is happening more and more frequently each few days. More people start using Bitcoins every day while many people spam the blockchain with many fake transactions. I believe the Bitcoin destiny must be choosed soon and fast. A upgrade must be done, something that can make the transactions more dynamic inhibiting the spam. For now, what we can do is to wait and don't send any transaction when there are many unconfirmed transactions.
hero member
Activity: 994
Merit: 544
mempool is practically empty now with 6600 https://blockchain.info/unconfirmed-transactions and unless they start spamming again, it will stay empty.

so why are fees still high (140 s/b)?!!
The reason is pretty much clear and obvious that it is due to the high number of traffic that floods the system and that heavy transactions cannot be cope up with the miners due to the limit of 1 mb blocksize. So sometimes even if you pay huge miners fee the transaction is still long to confirm but if you don't set a high fee then it will took much longer.
legendary
Activity: 2912
Merit: 1852
BTC now at 71278 Unconfirmed Transactions

So either include an insanely high fee or use an Alternative option ,
if you need it there in a reasonable amount of time.


 Cool


I have a transaction with buy.bitcoin.com/Simplex that is hung-up somewhere (no trx yet, apparently not sent).  My problem is that the send to address will expire in 15 hours...  Not only is it not confirmed, it has not been sent!  7 hours ago I got an email from Simplex saying my BTC would arrive in 20 minutes....

Not only unarrived, unsent!  

Oh, and now 75,000 unconfirmed transactions.  

Then we will see.  I suppose I ought to try and cancel the trx???
sr. member
Activity: 378
Merit: 250
tx fee is up to the miners, each miner may decide if mine without charging any fee or a small amount, but thats is part of their profit. As block rewards decline tx fee will go up, by 2021 block rewards should be done, so tx fee will be the only profit. that is why some agreement needs to be done about this(fees).
legendary
Activity: 1666
Merit: 1285
Flying Hellfish is a Commie
It's because we all follow the same work when it comes to paying for the fees on a transaction, think of it like this. Everyone pays a higher fee in order to get their transaction confirmed faster and faster, people are just going to keep paying more and this is going to rise at an exponential rate.

#ActivateSegWit
legendary
Activity: 1092
Merit: 1000
BTC now at 71278 Unconfirmed Transactions

So either include an insanely high fee or use an Alternative option ,
if you need it there in a reasonable amount of time.


 Cool
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