|
Title: Blockchain is slow as molasses Post by: GoBlue05 on April 13, 2017, 10:28:47 PM Does anyone know of a wallet were transactions times run much smoother and faster than blockchain. I tried sending money on blockchain four hours ago and there still hasn't even been one confirmation.
45b019dcec1bffe4f85edac8090c0b5f93e95823e3ee33d7392eddba9ad15c06 I don't use bitcoins as much as I"m sure other people on here do but when I used it a couple of years ago more consistently transactions were a lot quicker than they are now. Title: Re: Blockchain is slow as molasses Post by: xhomerx10 on April 13, 2017, 10:48:10 PM Does anyone know of a wallet were transactions times run much smoother and faster than blockchain. I tried sending money on blockchain four hours ago and there still hasn't even been one confirmation. 45b019dcec1bffe4f85edac8090c0b5f93e95823e3ee33d7392eddba9ad15c06 I don't use bitcoins as much as I"m sure other people on here do but when I used it a couple of years ago more consistently transactions were a lot quicker than they are now. Did you change the fee or is that the default? Title: Re: Blockchain is slow as molasses Post by: achow101 on April 13, 2017, 11:16:16 PM Your transaction pays a fairly low transaction fee, only 120 satoshis/byte whereas the current recommended fee is 260 sat/byte according to https://bitcoinfees.21.co/. Read https://bitcointalk.org/index.php?topic=1802212.0 for what you can do.
Title: Re: Blockchain is slow as molasses Post by: GoBlue05 on April 13, 2017, 11:26:32 PM Your transaction pays a fairly low transaction fee, only 120 satoshis/byte whereas the current recommended fee is 260 sat/byte according to https://bitcoinfees.21.co/. Read https://bitcointalk.org/index.php?topic=1802212.0 for what you can do. How is it fairly low if that was what was the default was set at? 5+ hours for a transaction is ridiculous. Title: Re: Blockchain is slow as molasses Post by: achow101 on April 13, 2017, 11:35:24 PM How is it fairly low if that was what was the default was set at? 5+ hours for a transaction is ridiculous. The default does not mean that it is a good fee. Blockchain.info is well known for having poorly written software and horrible fee estimation (if any fee estimation at all). There are many things which are "default" but are not actually good values for the default.Title: Re: Blockchain is slow as molasses Post by: xhomerx10 on April 14, 2017, 12:01:25 AM I just checked back and all my recent transactions using my Blockchain.info wallet dating back to early March of this year use the exact same fee of 120.533 sat/B. Seems like their software does suck at fee estimation as achow101 has alluded.
Title: Re: Blockchain is slow as molasses Post by: GoBlue05 on April 14, 2017, 12:07:07 AM That still is incredibly slow if it is a lower fee. Is there anyway I can cancel it so I can try resending it right away rather than waiting it out which could take a long time?
Title: Re: Blockchain is slow as molasses Post by: achow101 on April 14, 2017, 12:16:45 AM That still is incredibly slow if it is a lower fee. Not really. You are paying less than half of the current recommended fee rate. Although what is interesting is that fees recently shot up a lot. Transactions can be unconfirmed indefinitely. I have seen transactions that have remained unconfirmed for several days before being confirmed eventually.Is there anyway I can cancel it so I can try resending it right away rather than waiting it out which could take a long time? With blockchain.info, there is nothing you can do.Title: Re: Blockchain is slow as molasses Post by: GoBlue05 on April 14, 2017, 12:18:12 AM Can you recommend a better wallet service to use for next time?
Title: Re: Blockchain is slow as molasses Post by: achow101 on April 14, 2017, 12:20:14 AM Can you recommend a better wallet service to use for next time? Don't use a web wallet. Use a desktop wallet like Electrum or Bitcoin Core which actually do fee estimation and can provide ways for you to actually bump the fee of the transaction.Title: Re: Blockchain is slow as molasses Post by: GoBlue05 on April 14, 2017, 06:17:52 AM Well 12 plus hours later it's finally arrived. :D Thanks for the help and suggestions
|