Bitcoin Forum

Last few days, price drop to low and until today there still about 90K unconfirmed transactions.
Many believe someone commit a "crime", spamming bitcoin network with low transactions which it not absolutely true. I'll give you current calculation of bitcoin capacity:

Bitcoin transactions capacity:

FYI, bitcoin transaction capacity doesn't have correlation with hash rate.
> Block =  1 block/10 minutes, 6 block/hour & 144 block/day.
> Block Size: 1mb/block
> Transactions/block: 2150
Total transaction capacity/day: 309.6000
This mean bitcoin only able handle 3-4 trx/second.

questions is how big current transactions right now?
Go to this page: https://blockchain.info/unconfirmed-transactions

You can see average transaction up to 55 trx/second on peak hours. But we need look 24 hours average for this
With current real transaction volumes, bitcoin hard to handle all transactions. It why lot transaction stuck on mempool right now. This give miner ability to force you to pay higher fee if you want to get confirmed. This like bribery in other words.

And when transactions volumes higher than max transaction volumes, doesn't matter how much fee you willing to pay, there always some transaction will stuck on mempool.

It why there was segwit2 proposal..but miner doesn't support it.
Because if block size bigger, there will be 0 transaction fee and they doesn't like it. We are on status quo right now....

At same time, bitcoin already get peoples attentions...which mean more people come in to trade bitcoin?

What do you think will happen with bitcoin when more people join?
I'm really worried about this

yes i am agree with you.

and 3-4 transactions per second are just like a joke, because bitcoin is processing about 30 transactions per second at the moment , This may be the main reason of why the whole blockchain is so congestioned at the moment, i know that this is the real reason behind all this thing.
The lightening network has not been implemented yet, because they were going to extend the block sizes and they haven't been changed yet, it is a little bit strange.
But yes, it needs to be changed, what would happen when it reaches 50 per second? it will explode.

Match doesn't lie. There only 3-4 trx/second....
if there true 30 trx/second....there will be non stuck transactions on mempool...

Bitcoin prices have dropped a lot in the past few days. I think it's normal. There's a lot of money going up in the last week, and it's time to adjust. But it's still going up for a long time. I think it's a good time to buy. The miners have been affected by BCH for a few days, and some of them are not digging bits, and they should be back soon.

Clearly something is wrong with the system. Even a new like myself realizes that something must change. Cheaper fee we're what made crypto awesome