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Only Idiot who will buy $5 burger with $100 fee....
Not going to happen on our life time with bitcoin
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Completely to out of bitcoin right now..... This problem just about to blow....since last few week, lot user experiencing long confirmation delay which its not very good at all. Solution will come in few month where unconfirmed transaction will react 500K trx....and it mean more than 3Billion USD in value stuck in network....i completely lost faith in bitcoin See you on another life data: https://blockchain.info/unconfirmed-transactionsI don't really understand how this gets so bad? Whenever I have transacted it happens in a matter of minutes, could this be due to the possibility of low fees that people pay or small amount of transaction that's why this network gets jammed? I don't really understand how and why this issue is not solved as of now? I hope things get sorted out very soon, not good news for the crypto king. Bitcoin only able handle 3-4 trx/second. And number of transaction more higher than that at moment. And transactions confirmation queue base on how much fee you willing to pay...its mean there will be always unconfirmed transactions...always. |
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As of right now, the number has decreased to 240k. It was nearly 300k about 24 hours ago. Things are actually slowly starting to normalize.
I'm sorry that you lost faith on Bitcoin, but you should've known this could happen. The scaling problem is well documented. The roadmap probably didn't expect it to get this bad this soon. The growth has been astronomical the past few days, with futures trading opening and stuff. This is still somewhat a good problem to have. What I do know is that fixes are on the way, and I'd rather wait until then. Good luck to you.
but this already happened since last few week, and number unconfirmed transaction still more than 200K. Its mean lot people transactions got stuck on network for few days even weeks. And fee to get confirmed is about 100+ USD/trx. This about to blow up, wait until more people pissed off with unconfirmed transactions.... And there no solution in next few month, there some new about lightning network, but it will take at least 6 month to implement on real network....its too loong. |
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I just looked at the graphs of litecoin, bitcoin, bitcoin cash and ethereum at coinbase and they all started a downward spiral at the same time (07:44 am Florida time) and the reached a bottom at 9:16 am. I have never seen anything like this before. Was there any new information around this time or is this just some manipulating all four at the same time with their bots?
This is kind of shocking.
Time to exit or temporary exit at moment. I made right decisions few days ago. Price will drop below 10K in couple of days and no one know what happen after. |
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What is your opinion on Bitcoin? What do you think the future of Bitcoin is?
DEAD! |
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Completely to out of bitcoin right now..... This problem just about to blow....since last few week, lot user experiencing long confirmation delay which its not very good at all. Solution will come in few month where unconfirmed transaction will react 500K trx....and it mean more than 3Billion USD in value stuck in network....i completely lost faith in bitcoin See you on another life data: https://blockchain.info/unconfirmed-transactions |
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Maybe he need emergency money or something. Or want to quit from bitcoin fast |
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and 3-4 transactions per second are just like a joke, because bitcoin is processing about 30 transactions per second at the moment , This may be the main reason of why the whole blockchain is so congestioned at the moment, i know that this is the real reason behind all this thing.
The lightening network has not been implemented yet, because they were going to extend the block sizes and they haven't been changed yet, it is a little bit strange.
But yes, it needs to be changed, what would happen when it reaches 50 per second? it will explode.
Match doesn't lie. There only 3-4 trx/second.... if there true 30 trx/second....there will be non stuck transactions on mempool... |
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Last few days, price drop to low and until today there still about 90K unconfirmed transactions. Many believe someone commit a "crime", spamming bitcoin network with low transactions which it not absolutely true. I'll give you current calculation of bitcoin capacity: Bitcoin transactions capacity:FYI, bitcoin transaction capacity doesn't have correlation with hash rate. > Block = 1 block/10 minutes, 6 block/hour & 144 block/day. > Block Size: 1mb/block > Transactions/block: 2150 Total transaction capacity/day: 309.6000 This mean bitcoin only able handle 3-4 trx/second. questions is how big current transactions right now? Go to this page: https://blockchain.info/unconfirmed-transactionsYou can see average transaction up to 55 trx/second on peak hours. But we need look 24 hours average for this With current real transaction volumes, bitcoin hard to handle all transactions. It why lot transaction stuck on mempool right now. This give miner ability to force you to pay higher fee if you want to get confirmed. This like bribery in other words. And when transactions volumes higher than max transaction volumes, doesn't matter how much fee you willing to pay, there always some transaction will stuck on mempool. It why there was segwit2 proposal..but miner doesn't support it. Because if block size bigger, there will be 0 transaction fee and they doesn't like it. We are on status quo right now.... At same time, bitcoin already get peoples attentions...which mean more people come in to trade bitcoin? What do you think will happen with bitcoin when more people join? I'm really worried about this |
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I have 2 concerns about the congestion issue.
First, the number of transaction and ppl adopting bitcoin grow faster and even valid transactions will have to wait days for confirmation.
Second, I saw the discussions of ppl involved in segwit2x and all other modification in the bitcoin protocol, the problem here is that the consensus about adopting a change in it is basically up to developers and miners. Well, miners just want things the way it is now, it is more profitable and they will probably take it to a extreme until they are forced to do a change.
Anyone knows any news that would address this issues?
Please, don't use your on rage on me, I just want a calm and thoughtful discussion.
1. Bitcoin transaction volume capacity This is calculation for that: (average) => Block = 1 block/10 minutes, 6 block/hour & 144 block/day. => Block Size: 1mb/block => Transactions/block: 2150 Total capacity/day: 309.6000 Doesn't matter how much fee you willing to pay, doesn't matter hash rate we have....that number will not changed. Because of this you need pay bigger free to get prioritized by miner, but when transactions volume higher than max volumes, doesn't matter how much fee you willing to pay....your transaction will stuck. 2. Segwit2 Miner doesn't agree with this because if block size bigger, so automatically will include all transactions. No one willing to pay transactions fee, and miner doesn't want this to happen. right now we are on status quo...and this will keep continue. I don't know when this will resolved, this involving money and people interest.... This main reason i want to quit, because soon transaction will become bigger and bigger, new people come and most people will not accept their transactions stuck for few days. This could lead bitcoin fall....trust gone. |
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I really don't understand why so many people don't support Segwit2X. The situation could have been much better.
Because miner doesn't want it. Simply, if size bigger...there will be almost no transaction fee. i'm not sure why 100K+ $ reward per block still not enough for them. Some of them earn 1M $/day just from reward...and still they want more |
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Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.
If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.
I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.
At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.
If that's how you feel then you may do so, however i suggest that check the figures of previous unconfirmed transactions that was way higher. The trend as well does not speak that it is going down, in fact when you compare the market stability from previous months, Bitcoin is doing pretty well, that drives the transaction cost also.. Just don't be impulsive, weigh other factors and be open to other perspective. I monitoring transaction volumes last few days....unconfirmed transactions decreased. But it will take few days to confirm all transactions. Remember, bitcoin only able handle about 300K transactions/day. And average normal transaction now between 290K-330K transactions. This mean there will be huge problem if lot people join bitcoin market right now, and current bitcoiners not able to do transactions more often! |
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Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.
If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.
I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.
At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.
I'm not sure if your aim is about your concern pertaining to this issue because this has been a problem in Bitcoin ever since that really needs to get fix! But if this is your tactical way to encourage everyone to switch with bitcoincash then you can't count on me..
Bitcoin remains the head of Crypto-currency for real decentralization!  Indeed, this problem since beginning. But now become very critical due of more people use bitcoin and price increase/down only in few days/hours. And now it become more mainstream, which mean affect will be more great. And there no solution yet... |
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In bitcoin technology, there no way do identify which spam or not.
It just because transaction volume already reach the limit, bigger than bitcoin can handle....sad but i have to admit it. Average daily transaction already reach the limit. No space anymore for new adopters or bigger transactions volume.
Of course not. A transaction is a transaction. But we all know what's going to clog and what won't as do the people sending them. Many wallets won't let you choose fees that low and with others you have to actively create them. They know what they're doing. When this isn't happening there is still more than enough capacity. In August the mempool was empty and zero fee transactions often got through. With Bitcoin without second layers there will always be a limit and people will always attack BTC by exploiting it. 2-3-4MB blocks won't make much difference. It is right. This has been argued a long time ago and just keeps popping up every time a newbie wants to FUD. Blocksize is not a solution to this problem. It will just take more spam tx but nothing can stop them from clogging the system even if you raise the blocksize. So what solutions? Soon transactions will reach 10tx/s (24 hours average). Even all are legit transactions and willing to pay high fee, still there will have lot unconfirmed transactions per day. Current capacity only about 7-8tx/s (24 hours average). Are you willing spent 15-50 $/day on transaction fee? when you need to transfer only less than 1000 $ |
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In bitcoin technology, there no way do identify which spam or not.
It just because transaction volume already reach the limit, bigger than bitcoin can handle....sad but i have to admit it. Average daily transaction already reach the limit. No space anymore for new adopters or bigger transactions volume.
Of course not. A transaction is a transaction. But we all know what's going to clog and what won't as do the people sending them. Many wallets won't let you choose fees that low and with others you have to actively create them. They know what they're doing. When this isn't happening there is still more than enough capacity. In August the mempool was empty and zero fee transactions often got through. With Bitcoin without second layers there will always be a limit and people will always attack BTC by exploiting it. 2-3-4MB blocks won't make much difference. So it will be problem and problem....and trust gone. Remember, bitcoin value only about trust and faith. If this keep happening, people wont use it anymore and decrease value. Not everybody use bitcoin with huge transactions. Often they use to send 300-1500$, which it doesn't make sense to spent 15-50$ on transactions fee. And they have to wait few hours or days to get their transactions confirmed... Except there no alternative. |
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Yes, but there will took 1 month to confirm all these unconfirmed transactions.
Current transactions about 6 tx/s. Assume if there nothing special happening anymore...
and soon transactions become crowd again, then....i don't want talk about this. I'm scared
Incorrect. It'll be a few days at the absolute max. Many of the spam transactions aren't intended to be confirmed. They'll never be processed and will return to where they were sent from soon. Their sole purpose is to drive up fees and make you feel the panic you're expressing. In bitcoin technology, there no way do identify which spam or not. It just because transaction volume already reach the limit, bigger than bitcoin can handle....sad but i have to admit it. Average daily transaction already reach the limit. No space anymore for new adopters or bigger transactions volume. |
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This is what BCC is "said" trying to fix through making 2mb block size. (correct me if im wrong). Why wont core implement this in butcoin will there be a problem?
BCC/BCH is creating these network problems to try and force people to use their coin. Fees were 90% or more cheaper a few days ago. Is there ten times more use? No. If Core did implement 2MB block then the people in control of BCC/BCH would spam that too. They're out to kill Bitcoin and this is one of the ways they're attacking it. And 90k is far from the highest. It's been over 200,000 in the past. Yes, but there will took 1 month to confirm all these unconfirmed transactions. Current transactions about 6 tx/s. Assume if there nothing special happening anymore... and soon transactions become crowd again, then....i don't want talk about this. I'm scared |
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Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.
If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.
That is 130k like 2 days ago. Aint that a good cut? You should not be listening to those who are just doing it for their own greed. At least make your own research about it. If you will just go with the trend then are you even a human? You cannot decide for yourself anymore. I check network daily past 5 days. 90K last 2 days and not much changed. Before reach 190K unconfirmed transactions... Like i said, network can't handle all transactions at moment. Except you willing pay 20-50 $/transactions.... If you only do bit transaction per day, this cost is acceptable. But if you do lot transaction per day, this cost doesn't make sense at all....there no way to solve this until next fork(if all stake holder agreed on certain rule). But for now, time to quit...maybe until bitcoin solve it problem. |
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Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.
If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.
I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.
At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.
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