Confirmations are getting faster ?

[rizzlarolla]

Now 21 fees have moved up. From 50 to 70 sat.
https://bitcoinfees.21.co/

All the 50 sat payers, who paid the recommended fee half an hour ago are now stuck, underpaying.
Spam to you?

You're full of problems, and not interested in credible solutions. Constant negativity only attracts negative people, do try to come up with something more appealing, it's possible someone might even listen to you

I'm not seeing how this increases transaction capacity...

Haven't checked properly but it doesn't. (It cant)
It just helps to out bid other fee payers.
So the cycle goes on.

Hey, have a look here
I just rolled out these Bitcoin queue real-time charts for fun...

I just saw that earlier. Looks good. (I will try to post my feedback later  )

[Carlton Banks]

We cant all fit in to 1mb anymore.

"We" won't be able to fit into 2MB either. Like I said before, your logic involves infinite, unrestrained block growth, which damages decentralisation.

This is a problem that requires careful thought, not the first idea that comes into some amateur's head. If Satoshi had thought like that, he would never have come up with Bitcoin in the first place. Innovation required, not kicking the can down the road.

[rizzlarolla]

We cant all fit in to 1mb anymore.

"We" won't be able to fit into 2MB either. Like I said before, your logic involves infinite, unrestrained block growth, which damages decentralisation.

This is a problem that requires careful thought, not the first idea that comes into some amateur's head. If Satoshi had thought like that, he would never have come up with Bitcoin in the first place. Innovation required, not kicking the can down the road.

Innovation can be happening while we kick the can down the road.
The two things are not incompatible.

As Franky always say's, You don't seem to be able to see any thing between here and infinity. Strange.

[pedrog]

We cant all fit in to 1mb anymore.

"We" won't be able to fit into 2MB either. Like I said before, your logic involves infinite, unrestrained block growth, which damages decentralisation.

This is a problem that requires careful thought, not the first idea that comes into some amateur's head. If Satoshi had thought like that, he would never have come up with Bitcoin in the first place. Innovation required, not kicking the can down the road.

The possibilities here are not just 1 or infinity, there are a lot of numbers between those two...

But if I get rich without bitcoin actually being used by a lot of people I don't really care, I only have to make 1 transaction, to the exchange.

[ardentvolcanoes]

maybe blockchain has a few number of entry and transactions on the day that you have experienced a fast confirmations . i don't think that the transactions are getting faster maybe you just got luck so you have a transaction that has a few confirmations . and yeah don't take it seriously man . 

[b0art]

these block speed today really slowing down  so long for 1 conf

[rizzlarolla]

What are you talking about? That is not true according to the source that I tend to use:

There's over 40 thousand transaction paying a 1-10 satoshis/byte fee, also known as spam.

That is 21,co, the same site I sourced.

Forget the spam for a minute Landa. (1 - 10 is not a recommended fee)
I am talking about recommended fee payers.

Screenshot the 50 sat/byte. (8700 transactions at 50)
An hour ago (or less) 50 sat/byte was the recommended fee.
Now all those fee payers, who thought they had paid correctly (cos they did) are at the moment stuck in underpaying limbo.

Lauda, I owe you a bit of an apology.

That screenshot you show IS the 50 sat column I then called for.
It was rushing too much. Sorry.

I don't know why the screenshot figure was so low (it was 8000+ for me then, and it is 6000+ now?)

My point still stands.

edit. I got it now. It is not the 50 sat column I asked for it is the 60 sat column.
Obviously there are less transactions waiting as people thought 50 sat was ample. (50 was recommended to them)

I'll let the apology stand as It took me so long to work out. 

[useless4]

I do not think, that BTC confirmations times are much faster, can be more than 24 hours or so. 

well bitcoin average confirmatiion time is not changing at all so i doubt that the confirmations are getting faster

[Lauda]

Forget the spam for a minute Landa. (1 - 10 is not a recommended fee)

I'm not "Landa" and no, I'm not going to forget the spam (as my node is impacted by it). Those transactions aren't the only ones that are spam though.

Screenshot the 50 sat/byte. (8700 transactions at 50)

No. You've that there are more than 10k unconfirmed transaction that have paid said 50 satoshi/byte and over, this is not the case.

Now all those fee payers, who thought they had paid correctly (cos they did) are at the moment stuck in underpaying limbo.

Too bad.

Newer transactions with bigger fee will take precedent, if transaction rate doesn't go down your transactions will never confirm and eventually will get drop.

Hyperbolic doomsday nonsense as always.

Innovation can be happening while we kick the can down the road.
The two things are not incompatible.

As Franky always say's, You don't seem to be able to see any thing between here and infinity. Strange.

You seem to miss the vital points there. 1) HF's are not safe (not when the network has zero experience with them); 2) People will demand more. Even 2 MB block size limit is not safe without the added limitations (Gavin's BIP) due to quadratic scaling. How about we wait for Segwit and linear scaling of the time before proceeding? There should be at least (some) room for a block size increase afterwards?
Update:
I was just about to create a post when I've noticed your update. I accept the apology and have used strikethrough for my previous answer to you (it can be ignored now).

My point still stands.

What point?

[matt4054]

[rizzlarolla]

Thanks for accepting my apology.

But your strike through.
I said that there were more than 10k unconfirmed transaction that have paid said 50 satoshi/byte and over.
This was true. this was the case.

https://bitcoinfees.21.co/
Same source.

And there are still over 10,000 transactions 50 sat/byte or more. How can you not see that?
(block just found, now down to "around 10,000")

[~Bitcoin~]

It depends on lag between transaction which keep changing and if transaction has confired only after 30 to 40 minutes in few transaction before your transaction than your transaction may get confirmed within 2-3 minute as bitcoin network automatically try to adjust confirmation time of 10 minute on average.

[rizzlarolla]

Matt,

The 50 sat/byte is mixed with the "over 10 sat/byte"?

That makes 50 sat/byte look a bit spammy.
And it means it does not show what I am talking to Lauda about.

Would it be better 50 sat/bite and over (not 51 as now?)
10 - 49 sat/byte

[Lauda]

And there are still over 10,000 transactions 50 sat/byte or more. How can you not see that?
(block just found, now down to "around 10,000")

That number represents the total amount of transactions today. We have both made another mistake, we can not look at the range 41-50 (which I initially dismissed; I'm sorry) because that range includes transactions that have < 50satoshi/byte as well, and we can't know how many represent "fee == 50 satoshis/byte". As far as >50 satoshis/byte is concerned there are ~ 2.3k unconfirmed transactions [1].
[1] - Screenshot for archival.

[rizzlarolla]

And there are still over 10,000 transactions 50 sat/byte or more. How can you not see that?
(block just found, now down to "around 10,000")

That number represents the total amount of transactions today. We have both made another mistake, we can not look at the range 41-50 (which I initially dismissed; I'm sorry) because that range includes transactions that have < 50satoshi/byte as well, and we can't know how many represent "fee == 50 satoshis/byte". As far as >50 satoshis/byte is concerned there are ~ 2.3k unconfirmed transactions [1].
[1] - Screenshot for archival.

Apologies accepted. (my spelling corrected)

But I don't understand what number you are now speaking of! lol.

My 10.000 figure is correct. (now starting to go down)
Do you agree?

[Lauda]

But I don't understand what number you are now speaking of! lol.

The website shows the unconfirmed amount of TXs in a range in 1 color, and the total amount of TXs in X amount of hours (transactions which were confirmed) as a shade of blue.

My 10.000 figure is correct. (now starting to go down)
Do you agree?

Are you counting the 41-50 range as well? Otherwise it makes no sense if you only count the unconfirmed transactions that have 51 satoshi/byte and above.

[rizzlarolla]

Ah, yes, I see.

I was counting that column.   (the 41 - 50 pending column, in my 10,000. just to be clear)
Good. I think we understand now?

Sometimes talking can work, eh?

[Lauda]

Good. I think we understand now? Sometimes talking can work, eh?

Yes, we understand each other now.

I was counting that column.   (the 41 - 50 pending column, in my 10,000. just to be clear)

You've stated that there were >10k unconfirmed transactions with a fee of > 50 satoshi/bytes. The point that I was trying to make is that this column here:


includes transactions with a fee of < 50 satoshis/bytes (specifically 41-49) and that we can not know exactly how many are at 50 satoshi/bytes.
I've bolded the important parts. Hopefully you will understand what I wanted to say.

[matt4054]

Matt,

The 50 sat/byte is mixed with the "over 10 sat/byte"?

That makes 50 sat/byte look a bit spammy.
And it means it does not show what I am talking to Lauda about.

Would it be better 50 sat/bite and over (not 51 as now?)
10 - 49 sat/byte

It's a stacked chart, meaning you can either read partitions or total.

I have arbitrarily chosen to make fee groups like this:

(1) 50 satoshi / byte or greater,
(2) 10 satoshi / byte or greater,
(3) all transactions

Obviously (2) contains (1), and (3) contains both (1) and (2). But you can easily use the difference to figure out the number of transactions / queue size with less than 10 satoshi / byte, over 50 satoshi / byte, between 10 and 50, etc.

[robelneo]

Is it me (just luck) or the confirmations are really getting faster ? last time I got transaction confirmed in eight minutes and now in 2 minutes only while I was getting them in like 15-20 minutes.

like all the respond you are just lucky I have to wait 20 to 30 minutes to get it fully confirm,but that is ok with me as long as the bitcoins are arriving not more than an hour,it is still fast in my opinion..