Bitcoin Forum

Until last week,we all had been enjoying bitcoin transactions getting confirmed with very low transaction fee.If i'm not wrong,the fee went low to even 4 satoshis/byte.But now,once again the total number of unconfirmed transactions have seem to increase from 2000 to almost 20,000 now.

Hope that very soon,once again it would return back to very low fee.

The normal activity can have peaks now and then, it's not unusual. As you can see we have reached 21 MB today (which is far from big) and we are already back to under 7 MB and 2 sat/vbyte.
Nothing to worry for now.

It's high time to arrange the old legacy addresses and move the coins to segwit enabled addresses (e.g. to combine the dust into a new segwit address). We can't be sure when will be the next period with such a low fees in the future, so it's time to act before the mempool fills up again (it doesn't matter what is the reason why the mempool fills, active transactions, spam, etc...). If you will have your coins on segwit enabled address, you'll have lower fees compared to legacy addresses.
This is needed for now, because LN in not around the corner yet...

I thought it was something to do with Coinbase ballsing up their Segwit integration so they've headed back to normal transactions for now. I could be totally wrong but they revealed themselves to be epic spammers.

I have sent two transactions yesterday and I had no problem with high fees. I set 1 sat/b fee for both of these transactions. The first one was confirmed immediately after I sent it, it looks like I was extremely lucky. The other payment got confirmed after a few more blocks, even though my TREZOR predicted that it would take about 8 hours for them to confirm (although we all know that these predictions are never accurate). I have just checked https://coinb.in/#fees and it looks like you are right. Let's hope it's only temporary growth.

Network is operating smoothly without being cluttered right now, so whatever caused the unconfirmed transactions to increase, it's over. It happened a few times already, and the network digested it without any problems. Current block generation times are very quick, and even below the 10 minute average. I remember how last year the average block generation time surpassed 15 minutes, which was insane. That's what happens when poisonous miners can troll the network easily. Transactions from SegWit addresses cost less than $0.10 in my case, and that's very weird to see the fees be this low. I am used to just automatically include fees of 0.0005/0.001 BTC, where in some cases that wasn't even enough to get your transaction confirmed within 5 blocks. :D

No. The mempool is normal and working as it should for the high priority fee 20 satoshis per byte which is very cheap by the way i think bitcoin had returned to original state before the consensus drama was started. Unlike happened last year the transaction fees were reaching to 1k satoshi per byte because of spam attacks made by jihan and friends to sabotage bitcoin and advertise bitcoin cash.

The increasing number of unconfirmed transactions is inevitable because there's so much demand because there's so low cost that there's a lot of buildup, and if it's sustainable it's very annoying to wait.

The mempool is definitely more congested than it was last week, I too set a number of payments for just 4sat/byte. I suspect that there has been a recent influx of transactions due to the news surrounding binance and the fact that South Korea are expected to relax the rules on ICOs. Even 40sat/byte is still pretty cheap compared to what we were dealing with last December.

Most people are heavily burdened with expensive transaction fees, and I also expect transaction costs to fall lower and with a fast confirmation time.