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Vitamin King
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April 06, 2015, 06:56:40 PM
 #1

https://blockchain.info/tx/60c026b6ac9c4c81b3522aabee10464f38357efa14494cd41e06b76399685236

How long will it take for this Tx to get confirmed ?
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April 06, 2015, 06:59:22 PM
 #2

without fee Estimated Confirmation Time   Within 6 Blocks (Medium Priority)
You dont know when it come to you.

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kingcolex
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April 06, 2015, 07:22:56 PM
 #3

They paid a low fee so it may take a bit, by the way www.cloudmining.website is probably a ponzi scam, just don't be surprised when they vanish.

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April 06, 2015, 07:24:04 PM
 #4

fee is present : http://btc.blockr.io/tx/info/60c026b6ac9c4c81b3522aabee10464f38357efa14494cd41e06b76399685236

but, when you follow the tree ... unconfirmed transaction ( http://btc.blockr.io/address/info/1LKW6fiftaQg8UPp32ptdgJW587XXCDk3p ) and without fee.
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April 06, 2015, 07:26:01 PM
 #5

Low fees, might take a bit

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April 06, 2015, 09:40:59 PM
 #6

Low fees, might take a bit

Seems the Tx is now confirmed. But how come 0.0001 BTC is a low Tx fee ? I used to know that is the standard !!!

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April 06, 2015, 10:30:41 PM
 #7

Low fees, might take a bit

Seems the Tx is now confirmed. But how come 0.0001 BTC is a low Tx fee ? I used to know that is the standard !!!

Me too...maybe inflation is beginning to rear it's ugly head. I mean you couldn't really call the miners greedy if they were jumping all over themselves to get at 0.00015 BTC

However, what's to stop them from holding off their service for 0.0005 BTC? Or even .001% on any transactions above a single BTC? I'd hate to think they'd start microibiting and satoshying us all to death but what's to stop them?

When time is of the essence maybe show your appreciation for timely service with a little generosity. Just a thought.

fdyl


 
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April 06, 2015, 10:51:57 PM
 #8

number of transaction rise ... fees decrease.
normal way.

because network like flux ... to validate more bitcoins created.
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April 07, 2015, 01:12:59 AM
 #9

I was in same situation I sent  2kB size with 0.0001 fees it took 4 hours for first confirmation.

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April 07, 2015, 02:05:49 AM
 #10


try to wait 24 hours, if still not confirmed, try to contact help support there.
or maybe u can ask the reciever or payer is it alr sent or not.

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April 07, 2015, 02:14:28 AM
 #11


try to wait 24 hours, if still not confirmed, try to contact help support there.
or maybe u can ask the reciever or payer is it alr sent or not.

There is no need to wait at this point Smiley it shows confirmed.

But this is what happens when you send a small fee.  Sending no fee is even worse though.
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April 07, 2015, 02:54:20 AM
 #12


try to wait 24 hours, if still not confirmed, try to contact help support there.
or maybe u can ask the reciever or payer is it alr sent or not.

There is no need to wait at this point Smiley it shows confirmed.

But this is what happens when you send a small fee.  Sending no fee is even worse though.

It's not only about the fee amount, but also the age of the coins, the older Bitcoin(Bitcoin that haven't been transferred for a long time), the faster confirmations you will get.
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April 07, 2015, 04:13:08 AM
 #13

Seems the Tx is now confirmed. But how come 0.0001 BTC is a low Tx fee ? I used to know that is the standard !!!

0.0001BTC/1000 byte is recommened fee. 0.0001BTC for every tx won't get high priority. You should increase 0.0001BTC for every 1000 bytes. The transaction he/she received is 1286 bytes. So if they have added 0.0002BTC as fee, it would have got higher priority.

Me too...maybe inflation is beginning to rear it's ugly head. I mean you couldn't really call the miners greedy if they were jumping all over themselves to get at 0.00015 BTC

However, what's to stop them from holding off their service for 0.0005 BTC? Or even .001% on any transactions above a single BTC? I'd hate to think they'd start microibiting and satoshying us all to death but what's to stop them?

Miners aren't deciding how much to put as standard fee. However, they can decided what all transactions they want to include. There will be miner who will accept transactions with recommended fee.

When time is of the essence maybe show your appreciation for timely service with a little generosity. Just a thought.

fdyl

They have to pay electricity fee. 0.0001BTC/1000 bytes as recommended fee isn't high IMHO.

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April 07, 2015, 06:04:31 AM
 #14

Thank you Muhammed Zakir!  Smiley

Your reply coaxed me into Google mode and I found that indeed daily transactions continue to rise. https://blockchain.info/charts/n-transactions?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address= I can only assume this is a good thing...but I've been wrong before.

Now I don't know how I can find out how many bytes are in the average Tx but just using a guesstimate, until someone can give me a more concrete number, I'll say it's a thousand for the sake of the math. If this is the case then 100,000 transactions times 0.0001 adda up to only 10 BTC per day. That's 10 BTC spread over all miners...per day. Not a whole heck-of-a-lot.

What am I missing  Huh


BTW I was advocating for paying a higher Tx fee. Predicated on need for speed of course.  

Just found this http://www.coindesk.com/questions-linger-daily-bitcoin-transactions-pass-100000-milestone/

If you scroll down to the comments section someone calling themself  In search of a Japanese Wife said this 4 months ago.

"Blockchain also has a chart showing the number of transactions using blockchains own wallet. I note the increase in the transactions of the blockchain wallet over the last 12 months is of a similar size & shape to the increase in transactions in general. Basically I can assume that the increase in bitcoin transactions is (almost fully) due to an increase in the use of the blockchain wallet. Anyone concur?"

Wellllll? Does anyone here? Concur, I mean...with In search of a Japanese Wife.




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April 07, 2015, 10:31:03 AM
 #15

Thank you Muhammed Zakir!  Smiley

Your reply coaxed me into Google mode and I found that indeed daily transactions continue to rise. https://blockchain.info/charts/n-transactions?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address= I can only assume this is a good thing...but I've been wrong before.

Don't believe everything you see on Blockchain.info. Their details sometimes are wrong though not all.

Now I don't know how I can find out how many bytes are in the average Tx but just using a guesstimate, until someone can give me a more concrete number, I'll say it's a thousand for the sake of the math.

You can find the size of a transaction by decoding tx or after you rely it, you can see size on blockchain explorer. Most wallets calculate tx fees accurately and they set 0.0001BTC/1000 bytes unless you change it or chose low or manual fee. If the fee is low than recommended, most wallets warn you anyway.

If this is the case then 100,000 transactions times 0.0001 adda up to only 10 BTC per day. That's 10 BTC spread over all miners...per day. Not a whole heck-of-a-lot.

What am I missing  Huh

Some transactions are more than 1000 bytes and it will have more than 0.0001BTC as fee. Some transactions even have zero fee. Miner who find the block get 25BTC from coinbase which is newly minted coins and the transaction fees will be also taken by the miner. So if there is 100,000 transactions each with 0.0001BTC fee, the miner will get 60BTC. If it is a pool who get it, they will take the fee from it and distribute it to the miners who mine on their pool.

Note: Only the miner or pool who find the block gets reward, others will get 0BTC.

BTW I was advocating for paying a higher Tx fee. Predicated on need for speed of course.  

Just found this http://www.coindesk.com/questions-linger-daily-bitcoin-transactions-pass-100000-milestone/

If you scroll down to the comments section someone calling themself  In search of a Japanese Wife said this 4 months ago.

"Blockchain also has a chart showing the number of transactions using blockchains own wallet. I note the increase in the transactions of the blockchain wallet over the last 12 months is of a similar size & shape to the increase in transactions in general. Basically I can assume that the increase in bitcoin transactions is (almost fully) due to an increase in the use of the blockchain wallet. Anyone concur?"

Wellllll? Does anyone here? Concur, I mean...with In search of a Japanese Wife.

I don't think so. How can the use of Blockchain.info wallets increase transactions? It would have been better if you say "increase of the use of Bitcoins increased the number of transactions". Besides, the transactions you see aren't fully from Blockchain.info wallets AFAIK. They may have a different chart for that.

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April 07, 2015, 11:33:48 AM
 #16

If this is the case then 100,000 transactions times 0.0001 adda up to only 10 BTC per day. That's 10 BTC spread over all miners...per day. Not a whole heck-of-a-lot.

What am I missing  Huh

Some transactions are more than 1000 bytes and it will have more than 0.0001BTC as fee. Some transactions even have zero fee. Miner who find the block get 25BTC from coinbase which is newly minted coins and the transaction fees will be also taken by the miner. So if there is 100,000 transactions each with 0.0001BTC fee, the miner will get 60BTC. If it is a pool who get it, they will take the fee from it and distribute it to the miners who mine on their pool.

Note: Only the miner or pool who find the block gets reward, others will get 0BTC.

They don't get 25BTC from "coinbase", its just the bitcoin network that rewards the miners with 25BTC for solving a block.

Now I don't know how I can find out how many bytes are in the average Tx

Just see the size of the transaction on this page- https://blockchain.info/tx/60c026b6ac9c4c81b3522aabee10464f38357efa14494cd41e06b76399685236
The size is mentioned in the summary. In your case its 1286bytes.

Stay hungry. Stay foolish.
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April 07, 2015, 11:55:08 AM
 #17

They don't get 25BTC from "coinbase", its just the bitcoin network that rewards the miners with 25BTC for solving a block.

You are mistaken, my friend! You are talking about "Coinbase" company, I am talking about Coinbase transaction. The first transaction in a block. From "coinbase" miner get 25 newly minted Bitcoins.

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April 07, 2015, 12:07:39 PM
 #18

They don't get 25BTC from "coinbase", its just the bitcoin network that rewards the miners with 25BTC for solving a block.

You are mistaken, my friend! You are talking about "Coinbase" company, I am talking about Coinbase transaction. The first transaction in a block. From "coinbase" miner get 25 newly minted Bitcoins.
Oh yeah, I really though you were talking about the coinbase conpany(cause that company is the only thing that comes to mind when you hear of the word "coinbase").
So you meant coinbase which is - A special kind of transaction, called a coinbase transaction, has no inputs. It is created by miners, and there is one coinbase transaction per block. Because each block comes with a reward of newly created Bitcoins (e.g. 50 BTC for the first 210,000 blocks), the first transaction of a block is, with few exceptions, the transaction that grants those coins to their recipient (the miner).

Hope I am getting it right. Thanks for telling it. I never knew we used to call that thing as "coinbase transaction".

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April 07, 2015, 12:24:43 PM
 #19

Oh yeah, I really though you were talking about the coinbase conpany(cause that company is the only thing that comes to mind when you hear of the word "coinbase").
So you meant coinbase which is - A special kind of transaction, called a coinbase transaction, has no inputs. It is created by miners, and there is one coinbase transaction per block. Because each block comes with a reward of newly created Bitcoins (e.g. 50 BTC for the first 210,000 blocks), the first transaction of a block is, with few exceptions, the transaction that grants those coins to their recipient (the miner).

Hope I am getting it right. Thanks for telling it. I never knew we used to call that thing as "coinbase transaction".

Yup, that's the one I was talking about. Forgot to mention that 25BTC isn't permanent. Reward is halved every 210,000 blocks. Current block count is 351,113, so when block count reaches 420,000, reward will be halved, i.e. miner will only get 12.5BTC. 68,887 more blocks to go for the decrement of the reward. Assumimg blocks are minted roughly every 15-30 minutes, it will take about 717.6 to 1,435.1 days. This may not be accurate and maybe completely wrong, so don't rely on this completely.

Help can be expected anytime. Wink

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April 07, 2015, 12:24:59 PM
 #20


try to wait 24 hours, if still not confirmed, try to contact help support there.
or maybe u can ask the reciever or payer is it alr sent or not.

There is no need to wait at this point Smiley it shows confirmed.

But this is what happens when you send a small fee.  Sending no fee is even worse though.

It's not only about the fee amount, but also the age of the coins, the older Bitcoin(Bitcoin that haven't been transferred for a long time), the faster confirmations you will get.

not only that, but there are others parameters too, like position queue, or how many transactions are sent in that time you send your(this is a very important value)

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