Bitcoin Forum

I have never seen things slower, when does segwit activate?

The delay in the confirmation is due to pressure on the network Bitcoin whether requests for withdrawal or deposit to and from the portfolio and you can accelerate these assurances by increasing the commission to double

This is nothing, when the backlog was around 200k transactions the confirmation time was higher and the fees outrageous

I think sooner or later the transaction depends on the amount of transaction fee you choose. So, if you choose a low transaction fee, your transaction will be long, but if you take a high transaction fee, your transaction will also be finished soon.

SegWit will not magically increase the transaction speed. That is determined by the amount of unconfirmed transactions in the mempool, and therefore the fees you use.
Use a higher fee for a faster transaction. SegWit will reduce the size of each transaction, making more transactions fit inside a block but that's it. It doesn't mean that transactions will be faster.

The blockchain network is busy, that's all. Thare are several reasons and some of the groups generate fake transactions just to make the network even more busy.

Transactions now are depending on your fees, most of the online wallets now are asking for high fees if you want a faster transactions but if you go to lower fees that means that your transactions would be slower. Think of it as if you are sending a mail/package to someone. If you pay high price your mail/package would be first priority in the list that's because you are paying more than the normal service but if you just pay for a normal price of course you mail/package would be slower than the priority ones. They are also trying to earn from this fees, I know many people are outrageous about this but there is nothing we can do but to hope that the fees would be lower in the future or something would happen so that the transactions would be faster.

That happens when blockchain network is bussy, but you can make transactions faster if you pay more fees.
I usually put 0.001 fees for all transactions i make so all transactions can not take more than 15 mins to receive the first confirmation.

Yes when you pay higher fees the transaction will become faster. Usually blockchain is busy this means the demand is become higher.

Segwit2x is projected to be in effect on the 23 of August, the reason why transactions were so slow might have been the increased number of transactions the network had to deal with. Generally though the speed of your transaction goes accordingly to the fees you enter. You can see the cheapest fee for a fast transaction here: http://bitcoinfees.21.co/

Bitcoin has had much slower transactions before. What do you mean by slow?

Did you not pay a high enough fee for it to be included in the next 1 2 and 3 blocks?

You need to pay a certain amount of a fee, maybe like a few dollars, there are websites that will tell you the best fee to use and all that. You should try looking them up before you send a transaction.

The fees aren't really high in historic terms, are they?

There are 2 reasons it's "slow"

1. There are too many transactions waiting to be confirmed
2. You didn't pay enough fee to attract dem miners  ;D

Some paopla said that the segwit will have finished in 21 august for its activation. But looks bitcoin was having a lot of the interest for use it such as the japanese adoption could give the more pressure for the bitcoin network to process the more transaction everyday.

Reminds me of a quote, "Money can buy anything"! Both are valid as a matter of fact. Nowadays, the number of transactions being made has increased tremendously. Other than that, there are spam transactions to handle also which further increases the traffic on the network.

BTC miners are leaving the network and mining BCH because it is more profitable.

This causes a Bitcoin death spiral, destroying the currency.

Sorry for your loss.

Bullshit. Amount of miners that switched is irrelevant for the simple reason. They are making profit for now, but when they start dumping price goes down with their profits, so they will come back. It's just that Bitcoin is being used more than ever, and price is high so we should expect high confirmation time using "normal" fees that we are used to.

Well I don't see any difference in the fees yet even if SegWit is locked in,I still have to pay 7$ per transaction for get it to comfirm in next 6 blocks and 10-12$ to get it comfirm in the next 2 blocks this is really huge when do you think fees will go down?

Well I think that this is normal. This is included on the package of cryptocurrency that was introduced to us. I mean this is one of the toll in cryptocurrency. There were two tolls in cryptocurrency, one is that the fee in sending money and the other one is the time that acts while you send money. So it is normal for some transfering of money from one place to another with a lot of given time.

SegWit won't make the fees go down, it will just allow you to use the lightning network side channels / hubs that will have no fees or super low fees.

I have tried to subscribe a magazine website using bitcoin payment and made a mistake by selecting low fee. There was 15 min threshold before activation of membership plan for the payment I made and that part didn't go well, due to unconfirmed transaction. I had to submit a ticket and still waiting a response from publisher.

So, I recommend anyone to check with other side, if fast confirmation is required. Otherwise it might be annoying to wait for a response.

You can google "blockchain unconfirmed transactions" and see for yourself how bad things are right now... I just checked and it was at 53k - So if your fee was small, your transaction could potentially take days to confirm, unfortunately.

Something to think about whenever you decide which bitcoin fork to support... I'd rather have a digital currency which is faster and cheaper :)

The transaction is slow due to you chose low priority option, which offers a low fee, and miners are not ready to confirm it (which is one thing I hate.) The high priority option is made in within 10 minutes of the transaction. While the low fee option might take up to days without getting confirmed; I’ve seen someone say that his low fee transaction has taken up.to 17 days and still yet to be confirmed.

That's pretty significant, isn't it?

Yeah, fees are really high these days. You have to move big amounts for it to be less expensive.

The reason for slow transaction of bitcoin is probably because of a low transaction fee, let me use a real life example, if you have customers and they call you to do something, you would go to the highest payer first, that’s how transactions are confirmed too, highest first.

I agree about it that bitcoin's slow transactions fee can caused traffic compared from much higher fees, that's why miners existed because they helped speed up the blockchain network to gain it's network strength because of fast hardwares connected to the networks. Some bitcoin earners chooses fast transactions fees so that urgent transactions can be expedite and eliminate delays, specially when there's an urgent needs.

I really put more fault on the miners. Center devs truly don't believe the block size should increment for some reasons.

Miners have alternatives to run bitcoin exemplary or boundless. Which implies miners must not think it is critical to have greater blocks at the present time. Miners at last are the ones that settle on the choice.