Mempool confirmation: After 55 years

[Jating]

I just noticed this sort of sarcasm from Mempool  when I was looking at it because I want to check the latest payment from my signature campaign.



So what if there will be a time that our transaction is going to be confirmed in years though?

Damn, it's gonna be worth a life time to wait. 

[Felicity_Tide]

I just noticed this sort of sarcasm from Mempool   when I was looking at it because I want to check the latest payment from my signature campaign.

So what if there will be a time that our transaction is going to be confirmed in years though?

Damn, it's gonna be worth a life time to wait.  

Well, I don't think the Bitcoin community will allow that to happen, since we have very good and active developers that are working tirelessly to make things work. They will surely find a solution to it, though the LN has been a recent solution, but am not sure of how fast it will work for transactions like the one specified above.

OP, you should know that your transactions and balance history can be viewed using the url on the image above. Incase you care about it, do well to blur or edit that part.

[OcTradism]

I just noticed this sort of sarcasm from Mempool   when I was looking at it because I want to check the latest payment from my signature campaign.
So what if there will be a time that our transaction is going to be confirmed in years though?

It can be a bug from mempool.space. Fee rate used for the transaction is 15 sat/vbyte that is good if we see current mempools.

https://jochen-hoenicke.de/queue/#BTC,1w,weight

The attached image shows with 12 sat/vbyte, mempool.space estimates it might take ~ 10 minutes for confirmation. Even the site has conflict of information and how 15 sat/vbytes transaction can need 55 years more to be confirmed than a 12 sat/vbyte transaction?

You can try it with different block explorers and see estimating time.
https://blockchair.com/
https://blockstream.info

[btc78]

It's quite funny in theory but if this actually happens in real life then bitcoin might be deemed useless at that point. What can you even do with it if you have to wait years to just get a transaction through. It's like you are pre-ordering but the order will come years later.

I hope we do not let this happen as bitcoin is extremely helpful and useful to a lot of us. May this sarcasm be the driving force for the congestion problem to be finally solved.

[Apocollapse]

It's quite funny in theory but if this actually happens in real life then bitcoin might be deemed useless at that point. What can you even do with it if you have to wait years to just get a transaction through. It's like you are pre-ordering but the order will come years later.

I hope we do not let this happen as bitcoin is extremely helpful and useful to a lot of us. May this sarcasm be the driving force for the congestion problem to be finally solved.

You can increase the fees if the network is congested or swap your Bitcoin to Bitcoin Liquid Network in Aqua wallet, so you can send Bitcoin without need to spend too much for the fees.

As long as internet connection, device and other chains are available, Bitcoin will not become useless.

Since Bitcoin is a free market, so it's always about supply and demand, if there's something wrong, people will try to fix the problem.

[pooya87]

So what if there will be a time that our transaction is going to be confirmed in years though?

Remember that mempool is NOT a queue, it is a competition. Whoever pays the most will have higher priority to get into the next block. So what you said is not possible because you would just pay a higher fee and get into the next block.

Very high fees should not be able to last long either because theoretically if they do (eg. if you have to pay $100+ to transfer bitcoin every time for over a year) it will be the end of Bitcoin. Why would people use something that keeps getting more expensive to use when there can be an alternative that doesn't have the same problem (eg. a Bitcoin like decentralized payment system that doesn't allow spam attacks like Ordinals).

We can see that already happening as people switch to using shitcoins for transactions. The only reason why people haven't mass abandoned bitcoin is because (1) fees don't remain high for long (2) the alternatives are terrible (centralized, mutable, useless, insecure,...).
Things may not remain like this forever though...

[Mia Chloe]

So what if there will be a time that our transaction is going to be confirmed in years though?
Damn, it's gonna be worth a life time to wait.  

I don't think it's possible for a transaction to await confirmation for a period of 55 years that is about 28.5 × 10⁶ minutes? Like it's damn too long. Just like pooya87 mentioned, the mempool is actually a place of fee competition where transactions with bigger fees are given priority and thus confirmed faster. This means that the time it would take for your transaction to be confirmed using a particular fee depends on the level of competition in the block it was broadcasted.

The only logical way to keep a transaction waiting that long is to use a fee as small as no fee at all. However, Op don't forget that although you can customise fees for your transaction via a nice wallet software like electrum, the nodes on the network have a minimal fee rate and if your transaction carries a fee less than that nodes will automatically drop your transaction thus purging it out of the Blockchain. This will prevent excess transactions waiting on the mempool.

A transaction with the fee rate for 55 years will simply be a waste of computational and electric power to miners they would rather just. Drop it instead of wasting power to keep broadcasting it.

[franky1]

drama over, transaction was confirmed yesterday

https://www.blockchain.com/explorer/transactions/btc/59f7843fbb3e0fabf9f9efbdbfe1313b9562fc3796547d438e8e420df6d42929

[NotATether]

Generally, timers and things like progress bars that depend on a network to calculate how much data is left to process are always going to show a slightly inaccurate time remaining. Just download a file and check on the minutes remaining to see an example.

With mempool.space the problem is exacerbated because it's not updating this progress and time remaining as frequently, but less often.

[nc50lc]

I just noticed this sort of sarcasm from Mempool  

Confirmed transactions should've "Features" containing the script and flags displayed below the 'Timestamp'.
So you must have kept the page opened waiting for 1 confirmation for that field to show up. (do the same if you want to reproduce)

The image tells that the transaction is already confirmed at that time it was taken since the 'mempool/blockchain position arrow-up pointer' isn't visible
so it's not pointing to the yellow "future" blocks above but to a block in the blockchain on the right.

Anyways (it's a bug): github.com/mempool/mempool/issues/5196

[OcTradism]

Remember that mempool is NOT a queue, it is a competition. Whoever pays the most will have higher priority to get into the next block. So what you said is not possible because you would just pay a higher fee and get into the next block.

It is a competition among many Bitcoin users and orders in queue can be changed quickly by new demand and new waiting transactions broadcasted to Bitcoin mempools.

The issue in the transaction, that was confirmed already, is visually displaying issue from mempool.space. As a user, if OP wants, he can report that bug to mempool.space team and help their developer team to know about that bug, then figure out to fix it.

Report it on X or Github.
https://x.com/mempool
https://github.com/mempool