Bitcoin Forum

Hey everyone,

It's crazy how many transactions are stuck at the moment I just saw some transactions worth $250 with a fee of almost $40!!
My transactions from 2 days ago with a fee of $5 still haven't confirmed it's pretty messed up, isn't bitcoin known for the almost instant transactions? right now the network is as slow as a snail.  :-\

https://blockchain.info/unconfirmed-transactions

I hope the bitcoin hype will settle down soon so our normal bitcoin users can continue their business, right now it's very expensive to send transactions.

Have any of you guys have stuck transactions aswell or paid insane amounts fee? let me know i'm interested.

~yaking

The heck.. Yesterday or day before it was like what, 40000 transactions. Whoa this is getting screwed up by the day.
Should I consider myself lucky that I paid less for a transaction worth like 500-600$, or should I regret that I paid a huge tx fee.  ??? But yeah mine is stuck too..

no need to worry at all.transaction pending is not new issue.it will proceed as usual
but it will take time

Yesterday I sent some bitcoins with over 200,000 unconfirmed transactions and it took only about 1 hour to have it credited, and this with a pretty low fee. So don't really look at the number of unconfirmed transactions

And no bitcoin isn't supposed to be an instant transaction method

I guess they wanted a fast confirmation.


If you wanted faster confirmation, perhaps you should have paid a higher transaction fee?


No.

Confirmations have NEVER been "almost instant".  On average, transactions with a high enough transaction fee take 10 minutes.  Confirmations that don't have a high enough transaction fee to get into the next block need to wait until a later block.  This is how bitcoin has ALWAYS worked.

Bitcoin is known for irreversible transactions.
Bitcoin is known for permission-less access.
Bitcoin is known for trustless peer-to-peer transactions.
Bitcoin is known for being decentralized.
Bitcoin is known for being secure.
Bitcoin is known for "almost instant" UNCONFIRMED transactions.


It is quite possible that the "normal" user of bitcoin in the future will be those that are sending VERY large values, and which are therefore happy to pay large transaction fees.  If you are a multinational business and you want to quickly transfer value worth millions of USD dollars between countries, then you may be perfectly happy to pay a $100 transaction fee to accomplish it.  With enough transactions like that on a regular basis, it may forever be VERY expensive to send low value transaction on the bitcoin blockchain.

Lots of transactions since yesterday morning havent confirmed. I know a couple major bitxoin atms that cant transact because their hot wallets are not getting reloaded with bitcoin.

Guess we can count on seeing these posts every few months. I'm not by far the most experienced or elite Bitcoin user, but I must have done hundreds of transactions by now (and received more), all since 2016. While I try to shy away from transacting during these periods of heavy demand, I've still managed to spend reasonably well, in terms of percentage.

I think the normal Bitcoin user, as DH points out - and hopefully I am like them - will be using Bitcoin for larger transactions, and not longer dollars worth. Percentage-wise, I still find Bitcoin to be the cheapest mode of transfer, at least when I'm the one responsible for paying my own fees. This percentage is not really affected by every ATH.

Now the price of bitcoin fell slightly and therefore it seems to me that the number of transactions to decrease. Perhaps due to rising prices many bitcoin users want to transfer their coins to the exchange and sell. This could trigger a rise in the number of transactions with which the miners were unable to cope. This is another argument in favor of increasing the block size.

The only thing that comes in my mind when Business establishment is accepting another mode of payment for their products and services through Cryptocurrencies like Bitcoin then how would they handle the confirmations of the transactions that in every transaction will wait for number of days before the confirmation.
This way is not really reliable because recently Mc Donalds is announcing that their food chain establishment will accept Bitcoin as payments in the future but how exactly they are going to handle this one that when a person orders a burger using Bitcoin but i will take a week for the confirmation.
This is really ridiculous, online markets can only do this but in food chain? I think it's impossible.

The bitcoin block chains work pretty slowly. That makes most transactions unconfirmed. That's why bitcoin needs to be upgraded. may have to replace

I have a Bitcoin BTC wallet account in coins.ph and I'm holding it since July and it's not actually a huge Bitcoin amount but I saw an unconfirmed transaction that my Bitcoin is transferring to another wallet without my knowledge. It was hacked actually because I never did send my account into another's wallet.
It's been 4 days now that the unconfirmed transfer still unconfirmed so even though my Bitcoin is still on my wallet, I'll know that one of this days when it is confirmed then that's the end of my Bitcoin.
I'm really upset this event that someone will take away my Bitcoin that I've been keeping for half a year now.

I think it's normal for Bitcoin to slow down the transactions as what Ethereum also experience earlier this month. Not only for Bitcoin but also Ethereum and other Cryptocurrency network that will process a lot of transactions to confirm. This due is some of the reasons why some organizations are making hard forks is to speed up the transaction confirmation time. increasing the block size will reduce the confirmation time therefore almost all hard forks are increasing their Block Size from 1mb to 2mb or more.

The law of supply and demand is indeed happening with the bitcoin network right now as the number of transactions goes high the fees are also getting high and we can't do anything about it but to increase our tx's fees in able to send faster. I already sent some of my 0.005 Bitcoins to a specific website with a fees of 102 sats/byte and the estimated time in minutes is 25-1140 so my max waiting time for that to confirm is 19 hrs.

The massive increase in the price of Bitcoin is historical and many people now are getting confident in investing into it so the Bitcoin network right now is congested of transactions and let's hope that it will soon stabilize and same goes with the price and fees.

 bitcoin is just getting old and slow only the price is up lol

Current Bitcoin processing speed is just not fast enough to cope with the massive transaction volume, either increase your fee or just wait. Before Bitcoin can solve its scaling issue, consider using Litecoin, much less congested and thus faster transaction speed, not to mention it has much better/advanced technology than Bitcoin.

Ethereum is also slow right now because of just one game and talking about bitcoin it is getting lots of transactions because of increased demand for bitcoin.

Some are cashing out their bitcoin so they are moving their coins to trading platform to trade while many others are buying bitcoin and moving their coins out of the exchange to keep safe. All this is normal during huge price movement both pump/dump.

When we will have lightening network on bitcoin we might not have such issues because of off-chain transactions.

After the price move up drastically, people try to convert it to something else. High uncorfirmed transactions will be very common thing to happen from now on!

this is why i hate btc
so frustrating and coins could take ages to reach your wallet

Pay an appropriate fee, and it will be as fast as it ever has been.

If you are receiving bitcoins, then refuse to engage in bitcoin transactions with senders that don't pay an appropriate fee.

Yes, I'm facing a problem with that.. blockchain.info wants me to pay $1.3k fee to transfer all my balance to my ledger. :/

I posted yesterday, I'll wait a week to see if things get better.
https://bitcointalk.org/index.php?topic=2543412

You hate BTC? The very thing that - assuming that you own a few - has gifted you a 1400% return in the last 11 months?

Regarding the network congestion at the moment:
I increasingly view a full mempool as a brilliant feature of Bitcoin and not as a bug.
A competitive fee market requires occasional congestion of the network/mempool, which is particularly relevant for the time in the future
when the block reward is negligible and the incentives of the miners are largely determined by the transaction fees.

A recently released research paper of the Bank of Finland makes a similar argument. If anyone is interested
in further reading about this topic, you can read the paper at the following link:
https://helda.helsinki.fi/bof/bitstream/handle/123456789/14912/BoF_DP_1727.pdf;jsessionid=D762A63DC58856EF904C0C46421871BE?sequence=1

Small transactions will simply be priced out of the main BTC network. Lightning and other 2nd layer solutions will enable micropayments in
the near future. This is just a transition.

No stuck transactions at Bitcoin Cash.  Send as much as you like whenever you like - just a few cents.

Yeah, pay 7$ dollar fee to transfer 25$ worth of bitcoin. What's the point of bitcoin if you need to pay such high fees, isn't bitcoin supposed to be a currency? Well it doesn't look like it right now.

The last time I checked, the minimum fees required was around $8 per transaction. Nothing is working right now. After SegWit2X was cancelled, this issue just exploded all of a sudden. Never before I had seen 200K+ unconfirmed transaction. 

Bitcoin is popular because it's fast banks can't keep up with bitcoin but right now BTC is just getting slower and slower and it seems like banks are becoming faster. that's all i'm saying.

Have you tried increasing the transaction fee, transactions which are higher than the capacity of a block get stuck in a queue for confirmation by btc miners and they favor the higher fee payers don't worry though.. eventually your transaction is gonna get confirmed.

Also, Bitcoin is WAY more expensive than banks.  Bitcoin Cash is still much cheaper than either.

From https://blockchain.info/unconfirmed-transactions ,
Total Size   3355.735 (KB)
Transactions Per Second  4.64

2 Days ago, i have checked they can lift 14 per second transactions, this means Mempool is currently having same experiencing problem to fast many confirmation at this time, busy networks are commonplace ahead of the fork or similar situation. Which a problem right now are high adjustment fees are not guaranteed to be getting fast confirmation as we still have to queue up the previous block.

We can checking such this infos statistic from https://jochen-hoenicke.de/queue/#24h

http://oi66.tinypic.com/erlg5z.jpg

You need to pay like 15-20$ fees to get your btc under 2hours. You should convert it to ether it's still cheap and you get them under 12 min.

Bitcoin is popular because the exchange rate has been increasing a lot (much more than most other assets)
Bitcoin is popular because confirmed transactions are irreversible (unlike most bank transactions)
Bitcoin is popular because participation is permission-less (unlike participation with banking systems)
Bitcoin is popular because transactions do not require trust (unlike bank transactions)
Bitcoin is popular because it is decentralized (unlike banks and your local currency)
Bitcoin is popular because you don't need to give up your privacy (unlike bank accounts)

There are a lot of reasons that bitcoin is popular.  Transactions are also typically confirmed in an average of 10 minutes if you pay a high enough transaction fee.  You can choose any transaction fee you like, with the knowledge that lower transaction fees simply mean waiting much longer for confirmations.  Do you get to choose any fee you want when you pay bank fees?

Hopefully lighting network will be completed soon since onchain scaling seems impossible. Also transaction fees are skyrocketing...

In some way Bitcoin price is not affected by this issues ( I guess people are seeing BTC more as a store of value than a way of payment)

Currently there is a congestion in Bitcoin transaction processing speed is just not fast enough to cope with the massive transaction volume. This could be a result of have demand in bitcoin the best one can do now is to increase your fee or just wait. Before Bitcoin can solve its scaling issue, with no much time everything will become normal.

Problems not only with the network bitcoin. The ethereum is also very heavily loaded, and many transactions do not pass. I have already encountered this problem, I wait until the situation is adjusted. I cant transfer my tokens into another wallet.

The problem is that the Ether prices are not very stable. It can go down by 5% or 10% in a matter of few hours. If your overall amount is small, then you can convert your BTC to ETH and then do the transaction. But if the amount is high, then it is better to pay the necessary tx fee.

I have experienced the same scenario when transferring my btc from an exchange to my wallet. It has been more than 48 hours since the transaction and it is still unconfirmed. The network is so congested right now and I hope that it goes back to normal within the weekend.

Although I acknowledge that large fees+long confirmation times are kinda troublesome and discouraging,
at the same time, you need to realize that during bitcoin's price race it will be normal that we will see extensive congestion of the network.
Incredible price of BTC isn't it enough to make up for this issue with a slow transaction confirmation?
We can't have p2p transfers and on-chain transactions which will be instant, cheap and accessible for everyone.

I also read that article.And it's true that there's now 220k+ unconfirmed transaction are pending.I read in a another article that it's happening because of #cryptokitties.
I think we should just wait to bring things back to normal

No that can't be correct, cryptokitties is only clogging up the ethereum network and has nothing to do with bitcoins slow transaction times. But back to the topic discussed, i think this is due to the massive influx of newbies buying bitcoin but most newbies don't mine just buy so we have a massive increase in new users and relatively the same amount of miners trying to process everything. Welcome to the wild west!

GOOD NEWS! All unconfirmed bitcoin transactions have been moved to the PitchCoin network where it's believe they'll all be confirmed at a much faster pace:


Testimonials:

I think you can check from block cypher and many other platforms  for yourself without reading articles about them. It could be due to a lot of factors  such as  the flooding of the network by a lot of newbies or people trying to play smart trading due to the recent margin of growth and thereby loading the network with a lot of buying and selling.

You probably should now use TX booster for this to go faster. There is something here in this forum, try to go at Services. But wow, that's a lot of transaction though. And that fee is high. Miners this day, tsk tsk.

I know of a guy (seriously, not speaking in third person) who transferred U$1,000 three days ago and paid the express fee of U$92.14. The transaction has yet to be confirmed. Again, I'm not the sender or sendee, just a dude privy to this particular transaction.

Thousands of transactions are need to be processed every day and with the current situation of bitcoin demand I won't be surprise if theres thousand uncofirm transaction. Developers will need to go about this issue but as for now we really have to be patience or pay transaction fees that really sucks otherwise you cannot transact anything

Hello! Yes! What a awful situation! Hope soon it will be cheaper, fast and without trouble! :) ;)

I have not done any transactions after knowing from my friends that many have complained about the very long confirmation process. if you want a quick transaction is confirmed then it should use more fee. this is the effect of high bitcoin prices.

https://blockchain.info/blocks


I thought the block size was increased to at least 2kB.

Furthermore, who is "Unknown" relaying all them recent blocks? Did the NSA fire up their new Quantum Puter in Utah?

That s why I hold mostly alts. Transacting Bitcoin s going be very expensive in the future and small crypto users will have to turn to alts.

I'm not even going to pay $42 for an express since I tried to send before but with this $92.14 fee? That's totally high and still not yet confirmed? Bitcoin reaches new ATH for its price and it also reaches new ATH for it's unconfirmed transaction. By checking the unconfirmed transaction now it has been down to 205k so there is still hope those 15k unconfirmed was settled I hope it will goes well as soon as possible.

I need help with stuck transaction. I got stuck transaction, it is really weird that i can see it on block explorer but i can't see it on blockchain
Here is my transaction id:
6792d28f7dd0c212ef450c5e35920101b9c5903ed5f7bf828ca86afa2b9f9e4e
You can see it here:
https://blockexplorer.com/tx/6792d28f7dd0c212ef450c5e35920101b9c5903ed5f7bf828ca86afa2b9f9e4e
How can i solve this problem?

Then go look for something else that will let you pay less.
Oh I am sorry where could we find one now?
At Western Union the higher the amount the higher you pay.

Look, this congested transaction is being resolved and that is why you are seeing a higher tx fee so that they could eliminate those who are just sending little amounts and fees. Prevention is needed first so they could move and finish all those pending transaction.

Help me please, anyone?

Are you serious!! Bitcoin network is just 8 years old and it is considered as a new technology.
The network faces these problems because it is still new and users are not familiar with it.

The network congestion is somehow understandable. Bitcoin is insanely rising that is why many people want to buy it which results in a huge number of transactions.
It is hard to treat all these transactions in the same time.


0.36$ fee is too low thus you have to wait before seeing your transaction getting confirmed especially with the current network status.

Thanks but how long could it be?

I payed around 15$ for a 3000$ transaction, but that was when btc was around 14k...i dont know if i am lucky but i never had problems with confirming my transaction...i mean this one lasted for 1 hour or so to get confirmed.
Anyway, i do agree those taxes are pretty high and basically they force you to hold the coin and not to transact.

I have to wait 16 hours and nothing happened to my transaction  :(

I think that this is a problem that has already been widely discussed, for which we must be aware that bitcoin has ceased to be an adequate currency to carry out ordinary transactions. But fortunately there are countless altcoins that can satisfy those shortcomings completely.

In addition this problem should motivate us to hold our bitcoins as the valuable digital gold that is, avoiding these unnecessary congestion.

I'll wait for these volumes of transactions to be confirmed and be down to 100k-60k before transacting. I can't take the fees for now even though I really want to.

A few years ago people were saying that one of the major benefits of Bitcoin is that you could send money anywhere in the world almost instantly and almost free. We can’t really say that anymore, at least right now.

I hav a transaction stuck for almost 2 days now. The number of unconfirmed transactions has been over 200,000 most of the last two days. Some people are saying it’s taking 4 day to get them confirmed.

You are lucky not sure what you did to get it confirmed and credited so fast but i have been waiting for 52 hours. I still dont have not even 1 confirmation on it. The weird thing is it keeps getting reset to zero like it is a new transaction being done. Now i am not the sender i am tje receiver of a payment. No im not going crazy it really does reset see referring number below.

b642003e63e38f8fd9eed9cd8252179c4101ada0e8583c75bc8f714f7af12371

I'm in the same situation with you

Okay, our problem's solved. We've been doin' it all wrong ...

https://blockchain.info/tx/890842cceb473cccb5de2cf27a99227a483580924246f332b2c32dea438d0653

Really, it took all for the fee and this one have nothing left. If this is true when will i get confirmed  :(  :(

Thats really terrible and heartbreaking. I wonder what is the solution of this shit. The same thing happened in ether network too.

Just wait and pray. Hope luck will come to us  :-\

Yes i can say about fee's are too high but i cant say yes to there is too much transactions on network , because every time i want to send my bitcoins i do not wait too much.

sadly it is true.
it seems like all those idiots who were saying "bitcoin is not a currency and it should only be a store of value" are getting their wish. Steam (Valve) stopped accepting bitcoin recently because the fees are higher than the games they were selling!
i wonder how bitcoin is going to be worth when it stops being a currency for good and everyone switches to an altcoin! i wonder where those idiots are going to store their "value" then!

It has been a day and i cant see my transaction id on block cypher anymore but i can still see it on blockexplorer.
My transaction id:
6792d28f7dd0c212ef450c5e35920101b9c5903ed5f7bf828ca86afa2b9f9e4e
Any idea friends?

LOL, we haven't had "almost instant transactions" since this thing started. Much faster confirmation times with this, but never as quick as certain other major alts that typically confirm in 30 seconds or less ;)

This is people chasing the price, moving coins around to liquidate and ultimately, congesting the network. It's temporary, but is fueled when we give in to these high fees and raise them to use a coin. Don't do this! Would you pay extra to use a grid locked toll road? Or would you just take a different route?

FWIW, at least the US doesn't sell it toll roads to foreign nation states. Oh, wait ...

this is not crazy! bitcoin miner can only accomodate 4 transactions per second and people get crazy of the priize of bitcoin now and started to send bitcoin to wallet and exchangers just to get out of bitcoin and get FIAT! this is a phenomenon which no one want to be left behind thats why everone is trasferring to get a profit !

Expect it everytime bitcoin pumps up very high, it will soon be fine it just need another fork for it to work out smoothly and neatly.

I wonder how much of an impact of last week's episode of The Big Bang Theory contributed to the recent congestion since said episode was entirely based on Bitcoin.

because even though segregated witness has been enabled, only about 10.27% of the transactions are segregated witness transaction.
This is likes your broadband service has been upgraded from 1MB to 4MB bandwidth, but you are still lazy to make a few clicks  to enable that. So you are still using 1MB, and complaining why it is still 1MB, when you can already use 4MB

now are that 170k) not much less. But im calm about this situation, everything will come back to normal work, we should wait. one months ago, when happended the situation with 50k transactions, i waited my payment 2 days with transaction fee 50$ and 3 hours with transaction 5 dollars.

Worry no less because they are sure trying to fix that as soon as possible so we can transact again smoothly. This is mainly because of the fact that the price of bitcoin is surging over these past few weeks and the Bitcoin network has experienced record high traffic resulting in longer confirmation times and higher fees transactions. I've also experienced this as well, although the delay is a little bit bothering, we can't do anything but to believe that it will all be fixed ASAP.

These unconfirmed transactions are going to increase transaction fee which means more profit to the miners. Also this isn't good for bitcoin holders as they have to pay alot of fee.

That is kind of a problem as almost all transaction came from people who just wanted to convert thei btcoin.  I never had that ptoblem as of the moment.  Jus buying and earning more.  But as to the price and confirmed transacion I never encounter ther things.

Probably not much, the congestion is mainly caused by people who are cashing out, and economically it makes a lot of sense that they are paying some $50 fees, because they want to sell while the price is high, and since Bitcoin has spiked so much, people are now moving thousands of dollars worth with their transactions, so their fees are actually comparable to bank fees for similar amounts of value. But I don't think that congestion is caused by Bitcoin's exposure in mainstream media, including The Big Bang Theory, because when newcomers buy coins, they usually leave them on exchange.

Yes this is the advantage for the miners and disadvantage for users. now many people do transactions because from last 1 week the price was high and now it is decreasing so people will convert BTC to other currencies. If this takes high fee plus late confirmation means people will scare to do the transaction. If it stuck in the network who will take care?

I guess it really depend on the people who what's to do transaction because its really disadvantageous. I have transactions stuck for 2 days and I wasn't able to exchange at the precise moment when bitcoin price is high,  and now I already lost a lot because of it. Although I'm frustrated I guess its much better to hold on my coins in an exchange and wait till the price goes up again. Although network congestion is down to 100,000 right now, its still really hard to make transactions unless you really set a high fees for the miners. But hey, Lightning Network will be coming so I hope this will really solved the current situation with high fees, slow confirmations.

This  is really bugging me,can just do any thing for a week now,can not really figure out what is behind this hold

172,000 unconfirmed transactions now. There's a new article on CoinTelegraph on this...
https://cointelegraph.com/news/analyst-suspicious-bitcoin-mempool-activity-transaction-fees-spike-to-16 (https://cointelegraph.com/news/analyst-suspicious-bitcoin-mempool-activity-transaction-fees-spike-to-16)

So when FUD, and Panic selling really kick in, whatya think it'll climb too?  :o

350k?

Let me help you figure it out...

Blockstream can't charge to use their offchain Lightning product unless you are so frustrated with on chain transactions that don't work.  So, they tricked everyone into believing SegWit helps with capacity.  Of course, it doesn't.  But they needed SegWit to make Lightning work!!!! 

Get ready to send Blockstream money every time you want to make a transaction!!!

Checking the unconfirmed transactions now it went down 164k so that's improving while the price starts to get down too.


I did some transactions and paid for $7 fee :-\

It is expected that the price of bitcoin would soar in the coming weeks because of the new markets coming up and i did my transactions much before that as i knew when ever there is a price surge of this magnitude ,the network will be full and you cannot move your coins for a long time,unless you pay a much bigger fees,people are doing more transactions when the price of bitcoin surges and that is making problems to the entire network.

Although the amount of :D

It seems like only yesterday where we saw swings in the tens of dollars. It was literally ONLY last month where we saw swings in the hundreds of dollars. Today, we're acclimating ourselves to seeing swings in thousands of dollars per bitcoin. At this rate, sometime next year we could see swings in the tens-of-thousand-dollar range.

Ten years from now ...

Your fee might be high because of many reasons, in this case, traffic on the network and/or a high amount of inputs. A lot of people blame Bitcoin for its lack of scalability but we have to remember that we have already introduced SegWit in August. It's not the community fault that the most popular exchanges and wallet (except hardware and paper wallets) haven't implemented support for SegWit addresses (by support I mean that the addresses they generate are not SegWit ones). A lot of people send their bitcoins to exchanges in order to cash out or buy altcoins which might increase soon.