Bitcoin Forum

ALERT: INCREASED NETWORK TRAFFIC
The Bitcoin and Ethereum networks are currently experiencing record high traffic, resulting in higher miners fees and longer confirmation times for transactions.
Blockchain does not collect transaction fees. Transaction fees are paid to bitcoin miners and are determined by demand in the market for transaction confirmation. We do our best to try and provide you with the lowest possible fee that aims to achieve transaction confirmation in an acceptable timeframe. If you do not wish to pay the fee currently recommended, we recommend you check back later as fees will become lower once network activity has subsided.

See this message when I login to blockchain.info

Crazy times.

This is good news in the sense that more & more people (and obviously money) are/is flowing into bitcoin. I have a feeling 2018 is going to be a very good year.

Yeah it is good news, bitcoin and crypto market is increasing very fast!
The world is adopting bitcoin and everyday has new people joining in the crypto's world.

The bad news is that bitcoin has now more than 150k uncorfirmed transaction: https://blockchain.info/pt/unconfirmed-transactions
Fee is turning very expensive. We need lighning network asap.

The increased traffic, number of unconfirmed transactions and the rising price all indicate to me that another pump and dump cycle is on its way. Regardless of the pump and dump, the unconfirmed transactions and slow transaction speeds are annoying me as well.

At least we'll get to see the fruits of all these block size debates in hard results. Who would thought we'll get to test them this early?

And most exchange operators are not prepared at all for such success. I think no one saw it coming that quickly like you said.
Coinbase suspending Eth and Ltc transactions because of "too many trades" was like being back to the 80s...

I can't say anything about bitcoin, but Ethereum's high traffic is caused apparently by Cryptokitties :)

Bittrex Exchange suspended registration of users. !!!

It shows how bad ethereum is with it's current price bitcoin would've never had that problem.

I agree on that they are not ready , most of exchanges experience difficulties with high demand.
The high transaction times could indeed mean that next btc pump cycle isn't far away, possibly it is starting now...

Also it shows the problems that BTc have and possibly will push vendors to use BitcoinCash

Crazy stuff, this is mainly people getting into bitcoin because of the current exposure it's getting from the media around the world, also FOMO is getting bigger as we approach the 20k mark.
I expected high fees and the network getting clogged up due to high traffic, but I didn't expect a warning from blockchain.info, things must be getting out of control. And I believe this is only the beginning.

It's not the highest that I've ever seen, in terms of unconfirmed transactions I mean, but this has to be the longest time in a row that we've seen such a backlog.
I wish that all desktop wallets would start enabling segwit by default, but I don't think it will take too long before Electrum does.

Btw there's also a bug on the front page of blockexplorer.com, it says the latest blocks were mined 8 hours ago, gave me a little scare at first.

https://s18.postimg.org/h95j1nqvt/Screenshot-2017-12-15_Home_Bitcoin_Block_Explorer.png

Apparently? :) This has been happening for a while and everyone pretty much agrees on it, there is no "apparently" in regards to that old news  :)

it's mean bitcoin transaction will going without no fess? wow what a nice good news ;D

Both bitcoin and ethereum need some solutions to increase the amount of transactions that can be processed. It's a travesty that one of the main purposes of crypto in being able to send transactions fast and cheaply is currently not possible.

It's true that a huge transaction fees and delays are frustrating in anyways but we can't do anything about it but to wait for the network traffic to subside, and I don't really see it as an indication of a price dump instead a good sign of an economic growth in this 2 cryptocurrency, many people now are starting to invest with Bitcoin and Etherum the top 2 cryptocurrency as of this moment, and it's Christmas season now, we all know that the flow of money at this time of the year is massive.

I am also thinking that there are politics or some sort of manipulation happening inside of some cryptocurrency, group of businessman that directs to spam the network for the fees to get higher so that they can make a huge profit out of it, who knows. At the end of the day we'll still use Bitcoin and Ethereum so by any chance converting your BTC and ETH to other Altcoins that offers a very small amount of fees in withdrawing is the best move nowadays.

I hope that the coming holiday season will give bitcoin some time to recover. I hope that people will spend their fiat on buying presents and not too much bitcoin for a while now, and for the beginning of 2018 the lightning network will start to operate (or as soon as possible). Poor developer guys at LN, they are under heavy pressure now, I think... (and of course, every other developers in the bitcoin ecosystem too...)
My fear is that this is the time when the average people try to invest in bitcoin and bitcoin have to show that it's competent and fine not to scare away the people with sky high fees and slow transactions... We need to survive this period, somehow

I've noticed a lot of sites doing the same thing during a pump/dump. Maybe the price will finally go upwards?

Yeah, it's great news. I can't get any work done for a week.

Can't wait for my shops to add alternative payment methods, sending 20$ and paying 5$ fee, wait 2 days already no confirm, is just retarded.

Yes, that the message shown by blockchain.info  when you log in.
It's good news, keep holding.

Agree, Bitcoin is still at an early age, there is still need a lot of room for improvement. And bitcoin hasn't done some real 'problem' test. I believe this period of time will strengthen Bitcoin in the future to be able to serve as a good cash system.

I received this notification 2 days ago but the network congestion started weeks before.
If you explore the latest transactions you will notice that the majority are sending huge amount of money,
no one is sending less than 50$.
I think it is time to implement the lightning network to solve scalability problem. Let's hope the development of the network finishes soon
because fees became outrageous lately.

Its only good news if it causes the architecture to change to handle increased network load. However miners, who have monopolistic control over the bitcoin network won't let this happen as the huge fees only benefit them. Hopefully ethereum can implement a change for the sake of all blockchain.

There is a lot of issues with the traffic everywhere, in this forum, on the wallets, on the exchanges..

A lot of websites about cryptos are down right now too, because they all are collapsed due to the high traffic that bitcoin is driving to their websites/projects.

Just remember what happened in this forum when the price touched $10000 by the first time.. It collapsed, every body was joining to find information, and the forum went down for a few minutes if i am not wrong.

Just shows that we are really in the world of cryptocurrency now. It is just bad that either blockchains cannot keep up with the volume of transactions and tx confirmation time and fees are the ones adjusting to compromise with the increase of volume.

I hope both blockchain (ETH and BITCOIN) will have a permanent solution soon.