Bitcoin Forum

There are currently 65214 Unconfirmed Transactions (https://blockchain.info/unconfirmed-transactions) on the Bitcoin network at time of posting.

What does that imply? Is this good? I have a transaction of 0.01 BTC that has been stuck for almost 24 hours despite a high fee. Do we have too many unconfirmed transactions on the network?

64270 when I just looked but you're right, it isn't good. Far from it, it isn't good at all. I've never had to wait over 24 hours before but had to wait around 6 hours fairly recently sending 1.5 bitcoin's with a 0.003 bitcoin fee.

I'm under the impression that this happens too often recently. In the past it wasn't that for this kind of fee having to wait for hours was the norm. It were more like 30 minutes or so to wait for 1-2 confirmations, or am I wrong? I hope this will be addressed soon.

This is happening too often recently because there is an increase in transactions and people are not careful to send with the recommended fees. The recommended fees change day to day. To know what the recommended fee is there is this website here https://bitcoinfees.21.co/ (https://bitcoinfees.21.co/)

As you can see the current fastest and cheapest fee is 140 satoshi per byte. Check with your wallets, the ones which allow dynamic fee, enable them and make sure you are using maximum fee if you want fast confirmations.

I have done numerous transactions around this range of a send if not $20 or more each one with the same fee of 0.0001339btc.
It took them all over 7 hours to clear the chain and confirm but they all did eventually.

If we go to 2MB this backlog will be cleared in a very short time.  Then, block sizes will relax back down to 1.1ish for a very long time.  This will give SegWit more time to cleanly and carefully join the protocol in a non controversial manner.  

Don't think I've ever seen this many unconfirmed transactions before (I do have an awful memory though, long story).
This must be another spam attack to have over 60,000 unconfirmed transactions though, no?

No.  In case you've been living under a rock, it is not due to spam but rather due to Blockstream intentionally crippling the system so there will be a need for their 'solution'.  It is nothing less than a hostile takeover of the protocol.

It is a very bad approach to sit back and do nothing.  So get off your ass and do something.  At least go start a BU node.  It is not that hard.  Can anyone give a link to simplified instructions how to set up a BU node for the morons?

Yep m*rons get up your a*ses and run a BU node so they can take over with less hostile approach!!! there are now only 50k unconfirmed transactions, I had one my self and it only took less than an hour and got first confirmation soon after I used viabtc accelerator.

Bitcoin is heading towards Centralization that way. Kinda looks like miners now control the network. We now have to "bribe" Miners with high attractive Transactions fees to get our transactions confirmed? full bullshit. The idea of increasing fees to get confirmed is a crab.


If it continues this way, Miners will crumble the Bitcoin network by not confirming Transactions over people's unwillingness to use higher fees.

I hate to break it to you, but miners have always controlled the network... That's bitcoin by design.

People Forgot That The Idea Of Bitcoin Is P2P Transferring, we need to run nodes in our home to support the bitcoin network, there’s how we can do it:
http://www.buywithbitcoin.info/why-so-many-unconfirmed-transactions

Is it possible it's the miners themselves doing this to put pressure on the core team to make the necessary improvements?
After all, the miners will reclaim a portion of their own transaction fees – with enough collusion between large miners they could do this almost for free

Spammers gonna spam

Isn't confirming transactions the same as mining? sorry but I was running a full node for a few months on my desktop and all I got was an useless overheated junk left for me to throw away.
If you know a way to run a full node and get the fees without the need of your resources being used then I'm all ears.

If you're running a full node, you're basically just giving away your resources right now.
I think there should indeed be some sort of incentive for full nodes, but that just isn't the case.

Back in 2015, Bitnodes was giving out some incentive to people running a full node though:
https://bitcoinmagazine.com/articles/bitnodes-project-issues-first-incentives-node-operators-1426544155/

Unless it's the miners that are injecting the transactions in the first place, no, the miners aren't doing anything to perpetuate this issue. All blocks are about as full as they possibly can be and all signs are that they are filled according to transaction fee/size ratio which is the default bitcoind selection process.

About what fees you are talking about?
There's hundred of more powerful mining rigs than computers working 24/7.
Forget about the idea of getting fees from computer node.
If you would run node at least when you using your computer it would help to the network.

Just enlighten me please, isn't confirming the transactions called mining? also if you find a block you'll get the fees and if you run a node with desktop computer you are technically mining but will never find a block and never receive any thing whatsoever.
It's the pools that should run as many full nodes as they can but are they?

One thing we should let people know, you can mine with 5m rigs and link them just to 1 node or you can have 5m rigs and link each one to a node to have 5m nodes, but if you want to find a block faster than others it's better if you do everything with that one node.

But the network problem is way over that, and it's about the limitations in the source code itself, so if you run 10m full nodes you'll be limited to find a block every 10 minutes and in each block only a limited number of transactions can fit.

Even though the bitcoin price is really high comparing with the past months and years (except $1,150) but still the miners want higher fees.
It's quite surprising but the truth is that they control the flow of the number of all confirmed/unconfirmed transactions.

Your post means absolutely nothing. What the hell is $0.13 in terms of a fee? How many Satoshis per byte was the fee? If you had 100 inputs you'll be waiting a long time whereas if you had 1 or 2 you'll see a way faster transaction. Your fee based on the number of bitcoins means nothing. 1 input of 1000BTC will cost the exact same to send as 1 input of 0.01BTC. Next time look at the dynamic fee and choose accordingly.

Confirming the transactions is indeed done by mining (and mining only) but running a node on your computer - or any computer - is not mining. That stopped being possible 5 years ago... Mining bitcoin is done with dedicated ASIC mining hardware only and most hardware is directing its power towards pools that construct work for them that then submit blocks. The pools only need one node to submit the block, running more nodes does nothing for them (except perhaps create more places to distribute the block from.) You misunderstand a lot of what's going on.

It is said that not the spam issue, the blockchain is staganant due to small block size, enlarge it to 2MB is important and will be improved soon, if miners don't accept to do this, bitcoin network will be crowd like this in the futre, it is negative to bitcoin adoption.

https://blockchain.info/unconfirmed-transactions



not so high ... http://imagizer.imageshack.us/a/img921/3099/HH5k5B.gif



https://tradeblock.com/bitcoin/

http://statoshi.info/dashboard/db/memory-pool?from=1485562273433&to=1486167073433

no, it's a positive way to force the NODES to upgrade ... because they don't understand why her transaction is stuck.

because http://imagizer.imageshack.us/a/img921/4930/sJUQNx.jpg when the cash will be STOPPED.

Hmm. I had to do a transaction yesterday and was shocked when I checked bitcoinfees21 for the suggested fees.
It was @160 per byte and the unconfirmed transactions was just under 70k. Thing is, it wasn't a problem.

I just aimed for fee with the lowest 'pending'. Incidentally, it was at 140-160 range.
My transaction's got 1 input and 1 output and so I only paid 30k sat.  The size turned out to be 190bytes so I got within the 140-160 range I was aiming for.(157bytes)

Got 1 confirmation within 2 minutes, 3 confirmations in 10-15 minutes.

For now, it was just a matter of adding 10k to my usual 16 - 20k fees. I do hope it doesn't double/triple in future, especially for times when I got a lot of inputs.

I am using multibit wallet and for more than 24 hours all my btc there has gone to unconfirmed, is it a wallet issue or related to this ongoing phenomenon?
Are we to expect the solution any time soon?

it can have a couple of causes:
1) the spammers that are spamming the network with their large number of transactions
2) because of price rise more people are moving bitcoin around either to sell on exchanges or from exchanges out to their cold storages. and that always creates a large number of transactions.

and the solution is as it always have been to solve the block size issue.

Several hackers who are acquaintances of mine, said me that they want decentralisation and hack every one who starts BU node and take away all bitcoins from them, that's very easy because BU has many flaws and bugs.
I can't say for sure but appears that they were not joking

While possible, and I won't disagree because I don't know the platform and your friend is likely more knowledgeable with the various flaws and exploits that exist for a system like that, I find it surprising he's so confident that the node system for BU is that weak. I would expect for them to have something at least on par with the system we have going right now, but what do I know.

lately always happens Unconfirmed Transactions of the blockchain. This would be very bad if this kind of thing always happens. maybe this can reduce people's interest in bitcoin. because bitcoin is very popular with the transaction so quickly. I hope this can be overcome.

If this is not due to increase in adoption, then we have still plenty of room to scale, if this is just someone that intentionally want the block to be higher when it's not the time yet, then just leave he doing it until he run out of money

the block should be increase only if it is geniunly needed, and since there is no proof of that, and you can't say this just by looking at the price increase, it result in fud to me

i guess some of the transaction is based on the money laundering - they will not be revealed with such a large amount of transactions. state me if i have anything wrong.

At time of posting now it is only at about ~18k, ~15k even. It appears to be fluctuating and peaking at 50-70k of total unconfirmed transactions. The transaction of mine that had been stuck has now been confirmed, after a day. I'll make sure to send with even higher fees in the future.

you shouldn't just pay higher fees. instead you should check and make sure how much is high enough. it means visiting a website such as 21.co in order to figure out how much satoshi per byte you should pay.

in the future that you want to spend something, it is possible that the number has finally stopped going up and started at normal levels and you no longer needed to pay high amounts.

its not uncommon fact now. we all know that after July halving many manner had switched their system from mining bitcoin to mining other profitable coins and-and a fact is because of very less bit and high difficulty in bitcoin. since July halving price of bitcoin is almost at the same range may be since-since 1 month It had reached $900 but that doesn't make sense now because once dinner have given u mining bitcoin they would not switch to bitcoin back.

terrible, someone to stop it in any way
market stalled, much work can not be completed
why this happens repeatedly? I do not understand the reason for it

Yeah it's not worth sending a transaction with the standard fee at this time. At times like this you have to send with a slightly higher fee to avoid the uncertainty & anxiety that an unconfirmed transaction brings. 

What are the transactions that people are sending through bitcoin?

Why are they paying large fees and not holding off or using another channel? Why do they have to go through bitcoin if they aren't to do with bitcoin speculation?

Do people sending BTC transactions even know that they are going into a clogged up queue?

I think normally, do not directly create transaction but I found it was not as slow as you say
( I test today)

After a while the block's content will just be sent back no? Just pray to God it's not "those" people testing their "luck" solo mining with CPUs or some shite

it is never slow if you pay higher fee than other people. it is like a competition. i pay 100 satoshi per byte and you pay 110 for example and obviously miners will pick you over me. and if a third guy comes and pays 120 he will be chosen and so on. now imagine there are 10,000 transactions with higher fees than yours that you have to compete with.

fee will be higher or probably people would not send bitcoin in a period of time untill the unconfied transactions are confirmed.

It is not good in my view because we need to pay higher fee. no one likes higher fee unless miners (cmiiw)


yes, we do.

This undermines the whole idea of Bitcoin as money

Ultimately, the competition of fees is meaningless since money should facilitate the trade and not hinder it. Ideally, it should be in the opposite direction, i.e. miners competing between themselves for the inclusion of transactions in the blocks, and that should cause the fees to decline and not rise over time. It is basically the same as the matters stand with banks. Some of them are offering payments free of charge altogether if they want to attract more clients, and that's how things should work in general

And when the BTC unconfirmed transactions are over 10 thousand,
I just use an alt like LTC or Eth, cheaper & Faster and no competing for BTC fee increases.  ;)


 8)

it's definitely a pain in the butt and they should find a solution soon , it's really a big negative thing about bitcoin
two days ago I sent 50 mbtc to one of btc bookies that requires confirmation and I inserted the normal fee cause I didn't notice how many unconfirmed transactions there were at that time , I ended waiting more than 24 hours for the confirmation  :-\

This has happened loads of times why do people have to keep posting about it every time this backup happens
 

Because it gives sigspammers something to post about. Oh wait...

That solution doesn't help when certain services do not support mentioned altcoins. A lot of the sites I deal with support Bitcoin. Often times payments expire because the transaction don't confirm within the required 30 minutes. This happened to me quite a lot recently. I'd love to use something like NEM to pay but Bitcoin is what is used primarily.

I guess, this will be the third thread I saw in this board with the title of "X of Unconfirmed Transaction". Now its lowers and more than 20k, And it will discuss again the same title when it reaches +60k unconfirmed TX.

Miners don't have to compete amongst themselves in terms of fees. They just have to compete with respect to finding the new blocks.
That is a slight difference between banks and miners because if one miner keeps finding blocks, the transactions will have to go through him.