BTCC Ceo Bobby Lee lied officially.

[rslsrkr]

It is quite known by now that BTCC launched their new service Blockpriority to expedite the blockchain confirmations for its customers officially announced in their press page here :https://www.btcc.com/news/article/btcc-launches-blockpriority.To quote I tried to experiment with the situation being a BTCC customer also take some advantage of the new service :

This new service is automatically provided to our customers free of charge and works by submitting bitcoin transactions sent to or from any BTCC wallet address directly to BTCC’s mining pool for rapid confirmation. BTCC’s mining pool is one of the largest in the world, with approximately 13 percent of the global bitcoin network’s hashing power.
 
BlockPriority prioritizes all of our customers’ transactions, including those who pay zero transaction fees. Customers who pay lower transaction fees on other exchanges or wallet services may have to wait before the bitcoin network confirms their transactions.

On 24th Nov I inititated 2 transactions :
1.From my blockchain.info wallet to Localbitcoins wallet with regular fee of 0.0001 btc.
2.From my blockchain.info wallet to Localbitcoins wallet routed through Justpay(a wallet service by BTCC) just to expedite the 3 confirmations required by justpay which takes aprrox 1 hr through normal wallet service with fee 0.0 btc just to experiment with the said notion.
PS : The above is an experimental approach made in lieu for using it for future transaction purposes.

Findings :
1.It took almost an hr for the coins to reach localbitcoins account : https://blockchain.info/tx/d8da3d819ae8f38f3e845eb1e974dc11ff0c4b4d9a6f1ecd8dcea894ea3dd40d
2.It never got confirmed writing at time 6:02 GMT.The max network propagation was 6% with 24 nodes connected : https://blockchain.info/tx/5f44bdac799a29241dc1556d63a8877e3b776a2908e19da4a4ba3fcb7130a6f7

Conclusion : BTCC doesn't offer Blockpriority or nay such service.

For those who think if the address attached is Justpay wallet address or to save their time finding out.Here's a screenshot :

[franky1]

my understanding is that BTCC does not do anything beneficial because they only own 13% of the hash..

that means in one hour only 1 block (out of ~6) is POSSIBLY mined by BTCC's pool.
remember they can only get choosy with transactions in their own pool


this means that BTCC only puts their customers tx's ahead of others in ~1 block an hour..

so dont expect a guaranteed movement of funds in 10 minutes.. just expect the possibility that it will be done in under an hour

[RealPhotoshoper]

Bobby Lee: "Mt.Gox is doing business in the USA as well as in other countries. I heard that Mt.Gox did break some laws in the USA. They didn’t get a license when they were dealing with cash business. We’ve already registered in China and we put our customers’ money in a third-party company"
maybe you just unlucky,or maybe bobby lee not in love with USA.

[Patatas]

The transfer time taken from blockchain wallet to localbitcoin usually takes time than any other transfer I have noticed.Usually they need at least 3-4 conformations for the transfer to take place .From what I have experiences it took maximum 30 mins for the coins to get deposited in localbitcoins wallet .You should check your blockchains public keys and see the nodes its going through in the next hops .Or maybe there could have been issue with American Servers .

[NorrisK]

Also, prioritizing does not mean right away that you can go about and use 0 fees.. They may still want you to send the standard fee for the transaction..

Else it makes no sense for them, only to offer a slightly better service.

[franky1]

Also, prioritizing does not mean right away that you can go about and use 0 fees.. They may still want you to send the standard fee for the transaction..

Else it makes no sense for them, only to offer a slightly better service.

best analogy is..
disney world.

offering VIP customers the option to get on a ride without queuing..
small print. 'no queue' rides only operate once an hour

[Small]

If I understand correctly, your second transaction is from Blockchain.info, going to BTCC. As you said, the network propagation is very low, hence the mining pool might not have even seen your transaction. They may very well be prioritizing their customer's transaction but there is nothing they can do if majority of the nodes do not want to relay it and it won't reach their pool. Most nodes are refusing to relay your transaction as it can't be considered as a free transaction and has a fee below the network relay fee. What they can do is to offer a page for users to directly broadcast raw transactions to the pool.

[franky1]

If I understand correctly, your second transaction is from Blockchain.info, going to BTCC. As you said, the network propagation is very low, hence the mining pool might not have even seen your transaction. They may very well be prioritizing their customer's transaction but there is nothing they can do if majority of the nodes do not want to relay it and it won't reach their pool. Most nodes are refusing to relay your transaction as it can't be considered as a free transaction and has a fee below the network relay fee. What they can do is to offer a page for users to directly broadcast raw transactions to the pool.

BTCC node that runs the service has listed their pool as a supernode. that means out of the 24 nodes connected one of them is their miningpool..

the question is not about delays of relaying it to the mining pool's mempool.. its about how often the mining pool wins the blocksolving game before other pools in the world do.

which based on 13% hash power is only about one block an hour

i just grabbed the last 30 blocks from 385395 back to 385365

out of 30 blocks (5 hours) it should average 5 blocks solved..
. i count 4
block 385394
block 385388
block 385386
block 385377

so lets just realise that its not like BTCC will confirm your tx every 10 minutes guaranteed..

[Small]

If I understand correctly, your second transaction is from Blockchain.info, going to BTCC. As you said, the network propagation is very low, hence the mining pool might not have even seen your transaction. They may very well be prioritizing their customer's transaction but there is nothing they can do if majority of the nodes do not want to relay it and it won't reach their pool. Most nodes are refusing to relay your transaction as it can't be considered as a free transaction and has a fee below the network relay fee. What they can do is to offer a page for users to directly broadcast raw transactions to the pool.

-snip-
the question is not about delays of relaying it to the mining pool's mempool.. its about how often the mining pool wins the blocksolving game before other pools in the world do.

which based on 13% hash power is only about one block an hour

i just grabbed the last 30 blocks from 385395 back to 385365

out of 30 blocks (5 hours) it should average 5 blocks solved..
. i count 4
block 385394
block 385388
block 385386
block 385377

so lets just realise that its not like BTCC will confirm your tx every 10 minutes guaranteed..

Might be wrong on that but it is certainly weird no matter how you see it.

BTCC even though controls only a small portion of the hashrate, they have mined many blocks after OP broadcasted his transaction. Many of the blocks are not even half full, some even at 0.1MB which means that they can still mine OP transaction without difficulty and confirm it. Unless the service has not yet launched or the mining pool hasn't seen it, there is no reason that it is still unconfirmed.