Number of unconfirmed transactions increasing exponentially

[coinplus]

Now it seems the unconfirmed transactions were filtered out or got confirmed. Any way bitcoin network passed the stress test. But still need a solution for faster transactions.

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[thebigtalk]

Well, it may be a bit of an exaggeration about the exponential part, but right now there are over 20,000 unconfirmed Bitcoin transactions. Yesterday this number was around 10,000. Personally, my own 1 BTC transaction got stuck and hasn't been confirmed for almost 20 hours already (this will be of particular interest to those who stubbornly continue to insist that Bitcoin transactions are fast and reliable)...

Your ideas, guys

Never had any problems today with any large transactions I made. Got 1 btc transaction just now and received 1 confirmation in just a matter of minutes. Looking forward for it to reach 3 confirmations. Funds came from trading with ecoin.eu

[deisik]

I think there should be a mechanism to let you cancel the transaction and rebroadcast with a higher fee. At least you should get a market feedback of the ongoing fee rate depends on the network load

It is not a problem with a TX fee. I've later had a few other transactions (with much smaller amounts) with the same fee (10k) which were confirmed without even one block missed...

Even from the same exchange

[--Encrypted--]

It is not a problem with a TX fee. I've later had a few other transactions (with much smaller amounts) with the same fee (10k) which were confirmed without even one block missed...

Even from the same exchange

can you post the tx id? might help some people to point out what's the problem (if there is a problem).

[deisik]

It is not a problem with a TX fee. I've later had a few other transactions (with much smaller amounts) with the same fee (10k) which were confirmed without even one block missed...

Even from the same exchange

can you post the tx id? might help some people to point out what's the problem (if there is a problem).

Seems to be of not high enough priority

https://www.blocktrail.com/BTC/tx/ed9406d636410b516250e514a62d1504cac507b8cb63ab6905fa2cf997289839

[lorylore]

you sure? it shows 4k+ from here. 10k~ yesterday, and 20k~ the day before yesterday.
just raise the fee a bit if you want your tx to be confirmed fast.

At the moment there are 19815 unconfirmed transactions. I'm not able to raise the fee, since I don't control it. I withdrew from an exchange. It is interesting that later withdrawals with the same fee (10,000 satoshi) went through, though...

I don't know what's going on

Checked on that time but there were not ~20,000 unconfirmed transaction.

Besides, I see blocks with a very low number of transactions (and well below 1 MB in size). So could it be a concerted action by miners to get more fees, for example?

I think since the price of bitcoin has fallen down ~20$ then people don't trade.
So the number of transaction are small, and it's Monday (lot's of work in real life)

Here's the most recent snapshot. I don't know what else I can say

http://s24.postimg.org/imyawynph/image.jpg

We checked at the same time, a bit confused
"7004 Unconfirmed Transactions Live updating list of new bitcoin transactions"
From this website? https://blockchain.info/unconfirmed-transactions , anyway the number is huge enough

[--Encrypted--]

Seems to be of not high enough priority

https://www.blocktrail.com/BTC/tx/ed9406d636410b516250e514a62d1504cac507b8cb63ab6905fa2cf997289839

that's 0.0001 for 2.7kb transaction. the right fee for that should be 0.00027.
your other transaction, the ones who got confirmed faster, may not have so many inputs.

by the way. who set the fee? you or the exchange? if it's the latter then that exchange is doing poorly with fee management.

[deisik]

Seems to be of not high enough priority

https://www.blocktrail.com/BTC/tx/ed9406d636410b516250e514a62d1504cac507b8cb63ab6905fa2cf997289839

that's 0.0001 for 2.7kb transaction. the right fee for that should be 0.00027.
your other transaction, the ones who got confirmed faster, may not have so many inputs.

by the way. who set the fee? you or the exchange? if it's the latter then that exchange is doing poorly with fee management.

I can't set the fee. But the question is still there, that is, why some blocks with tiny number of transactions (2-3 digits) and small size don't include it (and other pending transactions for that matter)

[ranochigo]

Seems to be of not high enough priority

https://www.blocktrail.com/BTC/tx/ed9406d636410b516250e514a62d1504cac507b8cb63ab6905fa2cf997289839

that's 0.0001 for 2.7kb transaction. the right fee for that should be 0.00027.
your other transaction, the ones who got confirmed faster, may not have so many inputs.

by the way. who set the fee? you or the exchange? if it's the latter then that exchange is doing poorly with fee management.

I can't set the fee. But the question is still there, that is, why some blocks with tiny number of transactions (3 digits) don't include it

Number of transaction shouldn't be the main cause here. The blocks have a size limit, hard limit is 1mb, while soft limit is around 750kb. They can choose what limit they want as long as its between the two numbers. The blocks may have already been filled by larger transactions. Many miners has also set up a policy to accept specific transactions due to the spam eg. increasing minimum transaction fees.

[deisik]

Seems to be of not high enough priority

https://www.blocktrail.com/BTC/tx/ed9406d636410b516250e514a62d1504cac507b8cb63ab6905fa2cf997289839

that's 0.0001 for 2.7kb transaction. the right fee for that should be 0.00027.
your other transaction, the ones who got confirmed faster, may not have so many inputs.

by the way. who set the fee? you or the exchange? if it's the latter then that exchange is doing poorly with fee management.

I can't set the fee. But the question is still there, that is, why some blocks with tiny number of transactions (3 digits) don't include it

Number of transaction shouldn't be the main cause here. The blocks have a size limit, hard limit is 1mb, while soft limit is around 750kb. They can choose what limit they want as long as its between the two numbers. The blocks may have already been filled by larger transactions. Many miners has also set up a policy to accept specific transactions due to the spam eg. increasing minimum transaction fees.

What about this block then? Its size is only slightly above 98Kb. Why is it not filled with all those transactions unconfirmed at that moment, huh?

Miners are getting hungry

[--Encrypted--]

What about this block then? Its size is only slightly above 98Kb. Why is it not filled with all those transactions unconfirmed at that moment, huh?

Miners are getting hungry

I'm also curious about that (after much thinking).
maybe you should move this to the bitcoin discussion, it might get more replies there. not that this topic is about economics.

[deisik]

What about this block then? Its size is only slightly above 98Kb. Why is it not filled with all those transactions unconfirmed at that moment, huh?

Miners are getting hungry

I'm also curious about that (after much thinking).
maybe you should move this to the bitcoin discussion, it might get more replies there. not that this topic is about economics.

I meant economics actually. What all this may mean for Bitcoin ecosystem, short term and long term