why transactions are taking too long ? - page 7.

ABCbits

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Crypto Swap Exchange

Quote from: AliceWonderMiscreations on March 01, 2016, 10:52:54 AM

Quote from: VeritasSapere on March 01, 2016, 09:25:50 AM

Quote from: RealBitcoin on February 29, 2016, 04:42:13 PM

Yea it sucks i just observed this a few days ago, need to put 20k satoshi as fee now, or wait many hours.
Crap, hurry with the segwit devs! Cheesy

Segwit would not relieve this situation, only an increase in the blocksize limit would. If you did not know already, Core wants the blocks to be continuously full, this is part of their radical plan to fundamentally change the economic policy of Bitcoin. If you do not want this I would recommend either supporting Bitcoin Classic or Bitcoin Unlimited instead.

The only way an increase in the blocksize would relieve this situation is if the spam transactions made it into blocks.

That would allow attackers to cause a rapid growth in the size of the blockchain resulting in more resources needed to run a full-node without legitimate transactions increasing to justify the increased resources.

Even if we had 16 MB blocks my hope is the miners would not be including these junk transactions in blocks.

Including them in blocks serves no useful purpose to the bitcoin community.

All transaction must included in blocks, even it's only spam transaction.
What miners should do is prioritize big transaction or any transaction which not look like spam transaction.

So, regular user won't be affected too much with transaction spam.

VeritasSapere

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including "spam" in blocks, forces "spammers" to pay fees until they run out of funds. This also allows miners to clear the memory pool to avoid confirmation delays. At greater scale this would work very well, since it would make it very expensive to overload the network in this way.

It is mostly impossible to differentiate between "spam" and what most people would consider "legitimate" transactions.

~Bitcoin~

legendary

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I think fee per transaction should be adjusted as per price of bitcoin so that everybody will be willing to pay enough fee for smooth transaction. It will be intresting what will miners do after halving if price doesn't get increased. We may see even more number of unconfirmed transactions.

AliceWonderMiscreations

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Quote from: VeritasSapere on March 01, 2016, 09:25:50 AM

Quote from: RealBitcoin on February 29, 2016, 04:42:13 PM

Yea it sucks i just observed this a few days ago, need to put 20k satoshi as fee now, or wait many hours.
Crap, hurry with the segwit devs! Cheesy

Segwit would not relieve this situation, only an increase in the blocksize limit would. If you did not know already, Core wants the blocks to be continuously full, this is part of their radical plan to fundamentally change the economic policy of Bitcoin. If you do not want this I would recommend either supporting Bitcoin Classic or Bitcoin Unlimited instead.

The only way an increase in the blocksize would relieve this situation is if the spam transactions made it into blocks.

That would allow attackers to cause a rapid growth in the size of the blockchain resulting in more resources needed to run a full-node without legitimate transactions increasing to justify the increased resources.

Even if we had 16 MB blocks my hope is the miners would not be including these junk transactions in blocks.

Including them in blocks serves no useful purpose to the bitcoin community.

DarkHyudrA

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English <-> Portuguese translations

Seens fair enough, looks like a religion war
"Convert to my religion or get killed, you choose", where in this case get killed = DDoS

Lauda

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Terminated.

Quote from: VeritasSapere on March 01, 2016, 09:25:50 AM

Segwit would not relieve this situation, only an increase in the blocksize limit would. If you did not know already, Core wants the blocks to be continuously full, this is part of their radical plan to fundamentally change the economic policy of Bitcoin. If you do not want this I would recommend either supporting Bitcoin Classic or Bitcoin Unlimited instead.

Stop posting false information; people are tired of the FUD. Both Segwit and a 2 MB block size limit would temporarily "fix" the situation. I recommend staying away from both Classic and BU because of the obvious manipulation attempt.

Quote from: shorena on March 01, 2016, 07:56:10 AM

I dont know if its an attack or just high demand, but its true there is a high number of TX waiting for a confirmation. People will have to step up on fees if they want to avoid waiting.

Most of the transactions are in the 1-10 satoshi per byte range. This can't be a coincidence. It is highly improbable that the 'high demand' would result in everyone including the same (low) fee in transactions.

Quote from: pedrog on March 01, 2016, 10:11:56 AM

You can't expect this to be resolved.

Yes it can as this is not natural growth.

Quote from: pedrog on March 01, 2016, 10:11:56 AM

The question is, will people dump en mass when realizing bitcoin doesn't scale and 7 transactions per second in summer 2017 is still shit?

Since you don't want to read, listen and learn and just want to complain leave the system and join the altcoins already.

VeritasSapere

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The real shame is that Bitcoin can handle this kind of usage, it is just being artificially restricted because of the politics of Core and Block Stream.

pedrog

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Quote from: Rotator on March 01, 2016, 09:58:14 AM

And when we can expect this to be resolved?
If you already expecting confirmation more than 20 h?
I'm not panicking just curious can this happen again tomorrow or some other day?

You can't expect this to be resolved.

This can happen for as long as bitcoin can't handle this kind of usage, that will be for long time.

The question is, will people dump en mass when realizing bitcoin doesn't scale and 7 transactions per second in summer 2017 is still shit?

VeritasSapere

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Quote from: Rotator on March 01, 2016, 09:58:14 AM

And when we can expect this to be resolved?
If you already expecting confirmation more than 20 h?
I'm not panicking just curious can this happen again tomorrow or some other day?

It will be resolved when the blocksize limit is increased, otherwise expect this to be the new norm while Bitcoin is overtaken by alternative cryptocurrencies that are willing to scale directly.

VeritasSapere

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Quote from: Mickeyb on March 01, 2016, 09:27:25 AM

Quote from: VeritasSapere on March 01, 2016, 09:25:50 AM

Quote from: RealBitcoin on February 29, 2016, 04:42:13 PM

Yea it sucks i just observed this a few days ago, need to put 20k satoshi as fee now, or wait many hours.
Crap, hurry with the segwit devs! Cheesy

Segwit would not relieve this situation, only an increase in the blocksize limit would. If you did not know already, Core wants the blocks to be continuously full, this is part of their radical plan to fundamentally change the economic policy of Bitcoin. If you do not want this I would recommend either supporting Bitcoin Classic or Bitcoin Unlimited instead.

Bravo for being one great FUD shill. And why would you gentleman think Core would risk its own position as the leading client ?

No FUD here I am speaking facts whether you like it or not. Core is indeed risking its own position as the leading client by doing this. I think Core should cease being the leading client for exactly this reason.

VeritasSapere

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For the people that are saying just to pay higher fees, that is not a solution to this problem. There is not enough space for everyone to transact regardless of the fee that is payed. If everyone did start paying higher fees everyone would then need to pay even higher fees until enough people become priced out. Not to mention that such a hyper competitive fee market translates into a horrible user experience. It would be much better for adoption and the protocol as a whole if we just increased the block size limit to two megabytes instead.

Rotator

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And when we can expect this to be resolved?
If you already expecting confirmation more than 20 h?
I'm not panicking just curious can this happen again tomorrow or some other day?

talkbitcoin

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All I know is that I know nothing.

i have been waiting for over a day on my deposit in exchanger and now the opportunities of buying has passed Sad

pereira4

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Never had a problem, just pay the required fees. The only problem that may arise is when you are trying to withdraw funds from an exchange, and since the exchanges sometimes don't let you choose a fee, or don't have in-built "perfect fee" calculator like the Core wallet, so you can screw up on there and send the incorrect fee.

nickenburg

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Quote from: Rotator on February 29, 2016, 02:02:33 PM

If you have payment on wait "medium priority" for confirmation ? How long you must wait until confirm?
I never had experience with less than "high priority" and even then you must wait sometimes for almost hour.

Well on Sunday I send a transaction, and I thought I added the fee.
But I somehow didn't, and I send the transaction at 8:30 in the evening.
I think I was awake until 2'o clock at night, maybe even later, and the transaction still wasn't through.

The next morning I woke up and it got through, but i checked and it had around 9k-11k unconfirmed transactions.
So probably when you send it now as a medium priority, it will take maybe 2 days Cheesy

Mickeyb

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Move On !!!!!!

Quote from: n0ne on March 01, 2016, 09:38:52 AM

The transaction delay is based upon the service you have chosen. There are few types of services based on pricing such as free, paid and immediate transfer.

What in the world are you talking about? It does make sense if I think of you as an intelligible individual, free= 0 BTC fee , paid= 0.0001 BTC fee and immediate=0.001 fee or off-chain transaction, but I'm pretty sure thats not what you meant

n0ne

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Seabet.io | Crypto-Casino

The transaction delay is based upon the service you have chosen. There are few types of services based on pricing such as free, paid and immediate transfer.

shorena

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No I dont escrow anymore.

Quote from: VeritasSapere on March 01, 2016, 09:25:50 AM

Quote from: RealBitcoin on February 29, 2016, 04:42:13 PM

Yea it sucks i just observed this a few days ago, need to put 20k satoshi as fee now, or wait many hours.
Crap, hurry with the segwit devs! Cheesy

Segwit would not relieve this situation, only an increase in the blocksize limit would. If you did not know already, Core wants the blocks to be continuously full, this is part of their radical plan to fundamentally change the economic policy of Bitcoin. If you do not want this I would recommend either supporting Bitcoin Classic or Bitcoin Unlimited instead.

Because Classic doesnt want SegWit and BTC U has their own solution? Maybe keep the propaganda out of this thread and lets try to help those with stuck TX as much as possible.

Quote from: QuestionMark888 on March 01, 2016, 09:32:18 AM

-snip-
I have high prio and waiting since 21 hours now. I never had this. It will be my last bitcoin transaction. Seems to be outdated this stuff. Walking and bring money in cash seems to be the faster way these days!

Certainly depends on the distance. It sounds like you rely on blockchain.info for the "priority" estimate. Wana share your TX ID so we can take a look at it?

Mickeyb

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Move On !!!!!!

Quote from: QuestionMark888 on March 01, 2016, 09:32:18 AM

Walking and bring money in cash seems to be the faster way these days!

Feel free to walk across several countries when you send an international payment Wink

and good luck without bitcoin. Good riddance I must say

QuestionMark888

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Quote from: twister on February 29, 2016, 02:08:36 PM

Quote from: Rotator on February 29, 2016, 02:02:33 PM

If you have payment on wait "medium priority" for confirmation ? How long you must wait until confirm?
I never had experience with less than "high priority" and even then you must wait sometimes for almost hour.

They may take up to 6 blocks to get confirmed or more depending on the network load and since the network seems a little bloated today, it may take upto 1.5 Hrs for a tx of a medium priority to get confirmed.

I have high prio and waiting since 21 hours now. I never had this. It will be my last bitcoin transaction. Seems to be outdated this stuff. Walking and bring money in cash seems to be the faster way these days!

Topic: why transactions are taking too long ? - page 7. (Read 7230 times)