Topic: Wow, didn't realise how long it takes to get my transaction mined into a block.. (Read 7307 times)

No.  The priority is based on the value and age of the inputs, not the value or age of your intended output.

In your transaction the input was 0.15552197 and it was confirmed 270 blocks ago (as of my posting of this).  Also looking at your transaction I can see that it is 258 bytes.

Therefore, your priority is: 15,552,197 * 270 / 258 = 16,275,555


No, it is the number of blocks that have passed since each input was confirmed.

I've read this thanks, but not sure what you mean. Can you explain?

Ah, thanks for these links everyone, very interesting and this clarifies a few things in my mind. Looking at this wiki page:

https://en.bitcoin.it/wiki/Transaction_fees#Technical_info


So this is my transaction:

https://blockchain.info/address/18AA4H7Vm84NwqhxSE6HBpY6663b7uycoG

So as of the time of writing its queue value is approximately: 13,573,000 * 120 / 500 = 3,257,520

Assuming 6 blocks per hour and that my transaction has been queued for 20 hours and a size of 500 bytes as it is coming from one address. Is this correct?

I'm also assuming here that 'confirmation' in this article means the number of blocks that have passed since that transaction was broadcast to the network?


I understand that exchanges like MTGOX and Vircurex don't have separate wallets per users but effectively have their own wallet per exchange and then track a user's coin allocation via some form of database. So my question is do exchanges or even wallets in general make a point of issuing Bitcoins from the lowest possible number of addresses at all times when initiating a transfer to keep block size as low as possible at all times?

Is there a development roadmap in future to split up the blockchain storage so that no single node needs to store the entire data set but a set of nodes can have the data reference in such a way that a full blockchain can always be created from a set of n nodes ala RAID 5 where say 5 HDDs can have enough redundancy to loose a disk whilst still providing the full data set. This would allow larger block size without filling everyone's HDDs with a full copy of the blockchain per node.

depends how busy the network is for sure, no fees equals no confirmation into blockchain till tomorrow or the day after, depending on how much demand there is, if your lucky there will be a block chain with only 26kb of transactions, and you'll be included on the spot.  anything under 27kb/blockchain is free. but you got to be lucky and those blocks only happen during late nights,

http://blockchain.info/charts/avg-confirmation-time

this will give you an idea of how long... the network is really powerful right now so it should be cleared within 24 hours.

and don't forget it takes at least 6 block confirmations before you can spend your coins, so once it's in you'll need to wait an additional 60 minutes.

And some people still doubt the value of Litecoin which mines blocks at 2.5 min each 

I don't pay fees or wait...try sending ฿1 from an address that hasn't had a transaction in a while.

See https://en.bitcoin.it/wiki/Transaction_fees#Technical_info

Performed a similar test a few days ago. Campbx->blockchaininfo = 8 minutes. Blockchaininfo ->gox = 72 minutes. Gox->blockchaininfo = 28 minutes. Blockchaininfo->campbx = 12 minutes. 6 confirmations per transaction. I paid the fees. Blockchaininfo acknowledged each transaction immediately. P2P via blockchaininfo is very fast.

bitcoincharts used to have such a list, but it became so large (over 10k entries) that they had to shut it down.

Interesting. I thought this would happen, just not this soon.

Is there any way to see/tell where in the queue of transactions without fees a particular transaction is? I know the ones without fees, and therefore the ones that do not get batched immediately by miners, have a priority ascribed to them based on how long they have been waiting, their size, etc...

How large was the transaction?

There is no pool, mining pools have their own policies.

Bitcoin has much more users now, you *need* to pay transaction fees. Soon there will be a market for transaction fees (you propose a fee, miners tell you ETAs..)

That's a different thing as you are waiting for the network to confirm it has received the transfer request. This occurs before it is then queued to be batched up and mined into a block.

I've received the confirmation that my request is logged with the network; it's just not moved down the queue of un-feed transactions to a level where it's been included in a block yet.

I'm just not sure how to tell where in the queue it is and how long this queue is as it's clearly got a lot longer of recent.

I included the .0005 fee from my gox account and I'm still waiting (>60 minutes) for the transaction to show on blockchain.info

I just sent .13573 BTC without any miners fees on the assumption it would get picked up and mined into a block within an hour at most as I've not done a transfer without a fee for about 6 weeks.

However the transaction is still sitting there 6 hours later...

Is there any way to see/tell how far down the queue of non-miners fees transactions my transfer is?

Is there any way to see how much this has changed over time?