Unconfirmed Transactions Problem

[BitHodler]

Perhaps you need to pay more fees.
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Maybe core devs want you to pay more fees, so they are happy about the 40k transactions waiting?
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Maybe core devs want smaller transaction volume?  If they leave the blocks at 1 MB, then people will have to pay higher fees.  If people have to pay higher fees, then less people will use bitcoin.  If less people use bitcoin, then there will be less transactions.  If there are less transactions, then the 1MB blocks won't be full anymore. If the 1MB blocks aren't full, then people won't need to increase the fees anymore.  The system will eventually reach an equilibrium.  Maybe core devs want Mush smaller transaction volume with much higher fees?

Yes, I have to pay more fees, like 10 cents at least instead of 6 cents. I raised my tx fees in Electrum.
I don't know what Core devs think but they all should think different. Just look at Jeff Garzik's tweet about that.
Jeff Garzik ‏@jgarzik  11 hr.
Just paid $0.19 equiv. in #bitcoin transaction fees, to send $2.00 equiv. in BTC.

That's almost 10% fees  

This is madness to pay so much percentage...

I agree that the higher fees are not a good thing for everyone sending and receiving transactions. And especially not when it comes to transactions only worth a few bucks.

This however is the result of the greediness under the major pools. They decide which transaction they will add in their block, and which one not (based on financial priority).

Right now you can see it as an auction. People are somewhat outbidding each other to get their transaction added in the next block. Pools are just enjoying all these little extra's that they generate.

[Felimon]

Why is this a bad thing.  There are unconfirmed transactions all of the time.  The only way to put a stop to this is to add more miners.  With the cost of mining, that may not be an option, but does it really matter?  They will confirm, they just need time.  For the fees we pay to have this done, I see no issue with it.

[MicroGuy]

Why is this a bad thing.  There are unconfirmed transactions all of the time.  The only way to put a stop to this is to add more miners.  With the cost of mining, that may not be an option, but does it really matter?  They will confirm, they just need time.  For the fees we pay to have this done, I see no issue with it.

Yeah, let's get some more miners ... that will fix everything.

[jeffersonairplane]

Why is this a bad thing.  There are unconfirmed transactions all of the time.  The only way to put a stop to this is to add more miners.  With the cost of mining, that may not be an option, but does it really matter?  They will confirm, they just need time.  For the fees we pay to have this done, I see no issue with it.

It's a terrible thing for any business (eg. gambling sites, especially on-chain ones) that require fast confirming transactions for payments. Some people, regular users of bitcoin may not be aware that their transaction or payment is not being sent because of the built up unconfirmed tx, and end up blaming the company/service provider for this problem. Time-sensitive orders and purchases where people use bitcoin to transact suffers greatly from this issue.

[Felimon]

Why is this a bad thing.  There are unconfirmed transactions all of the time.  The only way to put a stop to this is to add more miners.  With the cost of mining, that may not be an option, but does it really matter?  They will confirm, they just need time.  For the fees we pay to have this done, I see no issue with it.

It's a terrible thing for any business (eg. gambling sites, especially on-chain ones) that require fast confirming transactions for payments. Some people, regular users of bitcoin may not be aware that their transaction or payment is not being sent because of the built up unconfirmed tx, and end up blaming the company/service provider for this problem. Time-sensitive orders and purchases where people use bitcoin to transact suffers greatly from this issue.

I have to claim ignorance at this point, so I have to ask the questions.  I did not know this could happen for I use coinbase and there has never been much of an issue for my transactions.  So when there is still a backup of unconfirmed transactions like this, why do some transactions go through and some do not?  If they are not confirmed for a long period, will they go back to the sender, chancing the receiver loosing funds on something they already gave out?

[Felimon]

^^^  I am sorry, I do not know everything hen it comes to bitcoin, but why would you pay a fee that high?  Is it something you choose or is it something the system charged you?  As I have stated in the past, i use coinbase and my fees are minimal for some reason.  I have never paid above .0001 doe a fee on any of my transactions unless I am using another site, such as bust a bit, or similar.

[BitcoinRonnie]

Does this mean that if I send some bitcoin right now that it will take a long time to be confirmed?  I like playing dice and I was about to play, just do nto want to waste my time on here if it will take a bit to get confirmed to play.

[~Bitcoin~]

Wow lots of unconfimed transactions, relax they will confirm somehow...this is good ....indicates world are using bitcoin...

Those unconfirmed transaction may also include lots of transaction also which have enough fee or quite lower than recommend fee so over few blocks those get confirmed however by that time there will be even same number of transaction with similar fee structure get added and we are seeing same number all time however most of those stucked transaction get through and only few with 0 fee get stucked.

[DannyHamilton]

I have to claim ignorance at this point, so I have to ask the questions.  I did not know this could happen for I use coinbase and there has never been much of an issue for my transactions. 

Coinbase pays the fee for you.  If the fees continue to rise, then I suspect that eventually Coinbase will no longer be able to afford to do that, and they will eventually start subtracting the fees that they pay from your balance.

So when there is still a backup of unconfirmed transactions like this, why do some transactions go through and some do not?

It is determined by the amount of fees per byte of transaction size that you pay.  The miner (or mining pool) that solves a block gets all the transaction fees of all the transactions that get their first confirmation in his block.  The miner (or mining pool) is allowed to choose which unconfirmed transactions they want to confirm in their block.  The miner (or mining pool) is not allowed to create blocks that are larger than 1 megabyte in size. Therefore, there is an incentive for the miner (or mining pool) to choose the transactions that pay the highest fee per byte until their block is full.  Then all the remaining transactions have to wait in line until the next block.  If additional transaction are broadcast while everyone is waiting for the next block, and those additional transaction pay a higher fee, then the additional transactions will get confirmed, while the existing transactions that pay a lower fee will continue to wait.
 

If they are not confirmed for a long period, will they go back to the sender,

Effectively ,yes.  Literally, no.

In a literal, technical, way the bitcoins don't ever leave the control of your wallet until the transaction is confirmed. Therefore, if the transaction is unconfirmed then it is technically possible to replace that transaction with a different transaction, and in doing so, the original transaction becomes invalid and vanishes from the bitcoin network.

Effectively this means that until the transaction is confirmed, your wallet software can choose to forget that it sent the original transaction and show those bitcoins as being "back under the control of the sender".

chancing the receiver loosing funds on something they already gave out?

Yes.  This is why the receiver of the bitcoins should never give out anything of value in exchange for bitcoins unless either the transaction has enough confirmations to reach the risk tollerance of the transaction recipient, or the transaction recipient has a trust relationship with the sender.

[OpenTalkLab]

This is a weird situation where transaction taking so long to get confirm.About 50k unconfirmed transaction now.It's good sign for bitcoin too the amount of bitcoin user increased a lot.

Maybe it's time we need more powerful miners or maybe 5 minutes for every block will be effective to handle this kind of situation.Some people talked about increase the amount of fee.Giving $1 for a $10 transaction makes no sense.

[N-rG]

Calm down? No  

I sent 14 BTC, after 24h no show. I sent 30 BTC with double fee, no show. And another 30 BTC with a lot of fees. Still no show.
That makes trading impossible if you dont want to keep all your BTC at the exchange wallet what maybe get hacked sooner or later.

Now i'm waiting for 74 BTC...due to that i already lost 10% profit chance.

[Omegasun]

Calm down? No 

I send 14 BTC, after 24h no show. I send 30 BTC with double fee, no show. And another 30 BTC with a lot of fees. Still no show.
That makes trading impossible if you dont want to keep all your BTC at the exchange wallet what maybe get hacked sooner or later.

Now i'm waiting for 74 BTC...due to that i already lost 10% profit chance.

Lol. Why does you keep sending huge amount while your first deposit is too slow to confirmed? Hahahah.
I'm waiting too for 24hrs when i withdraw my 1 btc from exchanged. It is still unconfirmed until now.  What happening to the blockchain.

[xhomerx10]

It's a little congested right now. I'm waiting on a small transaction from 14 hours ago.  I've never waited this long before.

[Labumi]

It's a little congested right now. I'm waiting on a small transaction from 14 hours ago.  I've never waited this long before.

Usually this happens because we provide a fee which is not recommended by any transaction in the bitcoin. That I prove that I do  transactions  with a fee that is not advised of the bitcoin so after that I have to wait until a couple of days and I finally get 1 confirmation. something very interfere with and this can give a bad effects when we conduct transactions on something that requires confirmation in advance

[N-rG]

Calm down? No 

I send 14 BTC, after 24h no show. I send 30 BTC with double fee, no show. And another 30 BTC with a lot of fees. Still no show.
That makes trading impossible if you dont want to keep all your BTC at the exchange wallet what maybe get hacked sooner or later.

Now i'm waiting for 74 BTC...due to that i already lost 10% profit chance.

Lol. Why does you keep sending huge amount while your first deposit is too slow to confirmed? Hahahah.
I'm waiting too for 24hrs when i withdraw my 1 btc from exchanged. It is still unconfirmed until now.  What happening to the blockchain.

I need the BTC for trading. And as I wrote I increased the fee massively at the end.

[NeuroticFish]

This is a weird situation where transaction taking so long to get confirm.About 50k unconfirmed transaction now.It's good sign for bitcoin too the amount of bitcoin user increased a lot.

Maybe it's time we need more powerful miners or maybe 5 minutes for every block will be effective to handle this kind of situation.Some people talked about increase the amount of fee.Giving $1 for a $10 transaction makes no sense.

Actually I believe it's a spam attack.
We've had it about a week ago too, back then the mempool rose to 23MB then and it took one day to clean up and get to normal.
Now I see again a rise to 16MB yesterday and one more started last night and still continuing, now reaching about 28MB. Somebody is clearly trying something... it's ugly and needs time to clean.. after the spam stops...

[bL4nkcode]

It's a little congested right now. I'm waiting on a small transaction from 14 hours ago.  I've never waited this long before.

Yeah, this is really frustrating I've been waiting for 9 hours this time for just 0.025 transactions, and I've send a small amount of btc to a gambling site but it as what others experiencing this time, its 0 confirmation since I've send it. 

[Omegasun]

Calm down? No 

I send 14 BTC, after 24h no show. I send 30 BTC with double fee, no show. And another 30 BTC with a lot of fees. Still no show.
That makes trading impossible if you dont want to keep all your BTC at the exchange wallet what maybe get hacked sooner or later.

Now i'm waiting for 74 BTC...due to that i already lost 10% profit chance.

Lol. Why does you keep sending huge amount while your first deposit is too slow to confirmed? Hahahah.
I'm waiting too for 24hrs when i withdraw my 1 btc from exchanged. It is still unconfirmed until now.  What happening to the blockchain.

I need the BTC for trading. And as I wrote I increased the fee massively at the end.

Even though you increased the fee. There will be no changed because of so many pending unconfirmed transaction. I think you became suspicious when the transaction takes too long to confirmed. When my 1 btc withdrawal takes 1hr without confirmation, i decided to stop withdraw other funds so that they will not got stuck up. Btw i hope our BTC will ne process as soon as possible.

[Ai7xpressTV]

yes a lots of unconfimed transactions..

[OpenTalkLab]

Calm down? No  

I sent 14 BTC, after 24h no show. I sent 30 BTC with double fee, no show. And another 30 BTC with a lot of fees. Still no show.
That makes trading impossible if you dont want to keep all your BTC at the exchange wallet what maybe get hacked sooner or later.

Now i'm waiting for 74 BTC...due to that i already lost 10% profit chance.

if you don't know, Your 2nd transaction won't get confirm as your first transaction is still unconfirmed.Try to contact with pool winner's the will be add your transaction on next block.Maybe with a little tip.

Nothing you can do but wait and keep patients