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Title: What plans to deal with more and more unconfirmed transactions Post by: D5128FPJ on December 21, 2017, 02:25:07 PM There are thousands of unconfirmed transactions lately.core team is there any plan? Title: Re: What plans to deal with more and more unconfirmed transactions Post by: AdolfinWolf on December 21, 2017, 04:32:45 PM There are thousands of unconfirmed transactions lately.core team is there any plan? There's already a number of solutions implemented, Segwit is an example. There's 3mb for witnesses in every block but they barely get used. Partly because noone really uses segwit adresses yet, which is a shame. There's also plans to make a "Lightning network", which would greatly reduce the fees on small purchases and and would be great for companies like steam.. See https://www.youtube.com/watch?v=rrr_zPmEiME for a good explanation about it. Title: Re: What plans to deal with more and more unconfirmed transactions Post by: DannyHamilton on December 21, 2017, 05:08:21 PM Pay higher transaction fee.
Problem solved. If the transaction fees get high enough, then less people will create less transactions (because they don't want to pay the fees). That will reduce the number of unconfirmed transactions. Then fees can get cheaper. Problem solved. Title: Re: What plans to deal with more and more unconfirmed transactions Post by: AdolfinWolf on December 21, 2017, 06:27:18 PM Pay higher transaction fee. Problem solved. If the transaction fees get high enough, then less people will create less transactions (because they don't want to pay the fees). That will reduce the number of unconfirmed transactions. Then fees can get cheaper. Problem solved. And this will eventually result in Bitcoin Cash( Or any other altcoin with bigger blocks & faster blocktimes) overtaking bitcoin. Why would anyone want to use a currency where you should pay 30$ to make a 50$ transaction that will go through in a reasonable amount of time? You don't solve the problem by paying higher fees, you simply prolong it.. Until you either need to pay even higher fees.. (Or until bitcoin is worthless and has no usecase anymore, because no one uses it anymore... ::)) Quote If the transaction fees get high enough, then less people will create less transactions (because they don't want to pay the fees). Which would essentially kill the idea bitcoin was once build on -- being your own bank is becoming pretty hard when you need to pay 15$ in fees for your 5$ coffee.People will simply start using services like poloniex to do their transactions, which only charge 0.0001 to make a transaction. *Centralizes* |