wow ,almost 30,000 unconfirmed trans

[deisik]

Something strange is happening, unusualy large number of transactions is not confirmed. Like the network is stuck. I agree that it would be good that community tries to do something about it but would realy this BoyCott BTC on 24 hours solve the problem? The aswer probably lies in the cause of this problem. Do we know exactly what it is?

The same thing happened over a year ago (namely, in July, 2015). There were also thousands of unconfirmed transactions stuck with almost empty blocks popping up on the blockchain now and then. I didn't hear a viable explanation of that event apart from that it was a test for "Bitcoin limits". Though it looked more like a collusion between miners demanding higher fees...

And people still continue to insist that there can be none

All that drama, its "just" 60-70k on my node, we hit 80k last month ~10/27. Bitcoin with 1 MB blocksize and no further additions like e.g. SegWit will be unable to handle the demand from time to time. Get ready to pay even higher fees or learn to be patient. (Bitcoin) Black Friday and Christmas are coming, this is just a hint at what will come soon

That may be a good pretext

[mindrust]

Is the system under attack again or it is happening because of the miners? Even if a small portion of those transactions dont get confirmed, bitcoin will be dead for good. I hope devs got a solution for that kind of an attack.

What are you talking about? That is false. If your transaction ends up *stuck*, you do not lose Bitcoin nor does anything bad happen. Eventually the network drops it and you can create a transaction with a bigger fee (you could attempt RBF via Electrum right away, but I do not know which miners support that).

It seems you don't have a smallest clue about how bad that can be turned out.

Let's say i wanted to buy something from a seller. I sent him bitcoins. He saw the transaction with the highest priority and shipped my purchased stuff to me.

But somehow, the transaction didn't confirm!!!

And what happens if i am not willing to pay again?

Who's got fucked?

That was what i meant. It will definitely kill bitcoin. Nobody will trust it again.

[Lauda]

It seems you don't have a smallest clue about how bad that can be turned out.
-snip-
That was what i meant. It will definitely kill bitcoin. Nobody will trust it again.

False. Anyone who believes that zero confirmation transactions are safe is either very misinformed, ignorant or delusional (or other?). Regardless of the situation with the network, accepting such transactions always carries a certain risk. I'm pretty sure merchants do not evaluate the TX priority. When dealing with non trivial amounts, anonymous people and such you should always wait for at least a singular confirmation. For example, trying to cheat Steam like this is ludicrous as they know who you are and can completely block your account for fraud.
Note: There is no *fix* to this. Even if the block size was 100 times larger, the network could still be flooded (regardless of whether they are genuine transactions, academic research or just malicious spam).

[NeuroticFish]

Thank you for the long and interesting read, but as long as it's not supported by the official dev team, that's still an altcoin, whatever some say.

95% is correct, but as you say, 8% of the hashrate is a moveable feast. kiklo is currently trolling Bitcoin every chance there is, in favour of some altcoin he's promoting. Not sure if Zeitcoin is any good, not looked at it.

Thanks for the support. Yes, it's not only the pool manager that counts, it's also the miners. And the miners will go wherever there's more money to be milked. (ZCash short history is the latest example on that.)
Still, 95% is a big number, and worrisome...

All that drama, its "just" 60-70k on my node, we hit 80k last month ~10/27. Bitcoin with 1 MB blocksize and no further additions like e.g. SegWit will be unable to handle the demand from time to time. Get ready to pay even higher fees or learn to be patient. (Bitcoin) Black Friday and Christmas are coming, this is just a hint at what will come soon

That may be a good pretext

I tend to agree with deisik here. If the number of unconfirmed transactions would keep growing, then yes, it's the network that cannot support Bitcoin's success.
But the reality tells that there are some strange waves now and then (which I keep thinking that they may be some sort of spam attack), then everything is calm for days and weeks until another tsunami comes.

Friday (18th) with less than 35 sat / byte my transaction got confirmed in some 30 minutes. Monday and yesterday that would not happened...
I will even watch the network for the next window I can send a transaction with 1000 satoshi fee

False. Anyone who believes that zero confirmation transactions are safe is either very misinformed, ignorant or delusional (or other?).

Usually they are badly misinformed. It's not that hard to get to believe that all is good when blockchain.info shows the transaction (even if red and unconfirmed).

[x4]

Wow ,almost 30,000 unconfirmed trans now

Are the miners sleeping? LOL

30,000 is just so small rather this last month unconfirmed transactions that reach 70,000+. And I guess the main reason is the rapidly increasing of bitcoin price thus when bitcoin price increase transaction fee will increase too thats why the first transaction will be unconfirmed because it will not match the transaction fee that the current price have.

[deisik]

Something strange is happening, unusualy large number of transactions is not confirmed. Like the network is stuck. I agree that it would be good that community tries to do something about it but would realy this BoyCott BTC on 24 hours solve the problem? The aswer probably lies in the cause of this problem. Do we know exactly what it is?

The same thing happened over a year ago (namely, in July, 2015). There were also thousands of unconfirmed transactions stuck with almost empty blocks popping up on the blockchain now and then. I didn't hear a viable explanation of that event apart from that it was a test for "Bitcoin limits". Though it looked more like a collusion between miners demanding higher fees...

And people still continue to insist that there can be none

All that drama, its "just" 60-70k on my node, we hit 80k last month ~10/27. Bitcoin with 1 MB blocksize and no further additions like e.g. SegWit will be unable to handle the demand from time to time. Get ready to pay even higher fees or learn to be patient. (Bitcoin) Black Friday and Christmas are coming, this is just a hint at what will come soon

That may be a good pretext

How dare you!!! Miners would never do that 
Anyway this unconfirmed transactions problem is becoming recurrent again and again.

Caesar's wife must be above suspicion

I don't really know how much the next Bitcoin update (SegWit?) could actually help matters in this respect (everyone is welcome to chime in on this), but could it be one of the miners' subtle ways of telling us all to switch to it as quickly as possible? Forcing the update the hard way, so to speak. Or refrain from switching to it altogether. What is the current consensus about what's going on?

[Lauda]

I don't really know how much the next Bitcoin update (SegWit?) could actually help matters in this respect (everyone is welcome to chime in on this), but could it be the miners' subtle way of telling us all to switch to it as quickly as possible?

Segwit benefits. Segwit adoption. Without going into the details and only mentioning the part relevant to this thread, it should increase the throughput to around ~1.7-2x of what we currently have. In other words, a block size limit of 1.7 - 2 MB (depends on the user usage patterns).

Forcing the update the hard way, so to speak. Or refrain from switching to it altogether? What is the current consensus about what's going on?

No. The miners have to be the ones to update to Segwit since it is a soft fork. It's backwards compatible so users technically do not need to upgrade, but then they won't be able to *enjoy* its benefits.

[yayayo]

95% is a huge number. I don't know the data, but I really hope the you are wrong. Because then this will take a (too) long time to get traction...
And BTC unlimited.. is an altcoin. If they want to mine altcoin, nobody forces them to stay on this chain....
And if they leave this chain, their 8% doesn't matter anymore.

95% is correct, but as you say, 8% of the hashrate is a moveable feast. kiklo is currently trolling Bitcoin every chance there is, in favour of some altcoin he's promoting. Not sure if Zeitcoin is any good, not looked at it.

Yeah, kiklo is a well known altcoin troll. Almost all of the professional anti-SegWit trolls and UnlimitedCoin worshippers are heavily active in the altcoin world. That's not surprising, because all they hope is to destabilize Bitcoin for that their altcoins become more valuable. Their guru, Roger Ver, serves as a role model, manufacturing dissent by repeating the same FUD over and over again out of pure self interest (generating a quick fiat buck).

Any intelligent individual can clearly see the tremendous benefits SegWit brings and that it's a greatly superior solution for scaling Bitcoin than simple max block size increases, which are a viable threat for the decentralization of the network.

The obstructionist efforts of the Andresen/Hearn/Ver-clan will collapse sooner than they are anticipating. But maybe Roger Ver's motive is even more profane: Profiting from insider trading, by publicly announcing the end of his futile opposition at a certain point in time to spark a price jump.

ya.ya.yo!

[Hugroll]

Something strange is happening, unusualy large number of transactions is not confirmed. Like the network is stuck. I agree that it would be good that community tries to do something about it but would realy this BoyCott BTC on 24 hours solve the problem? The aswer probably lies in the cause of this problem. Do we know exactly what it is?

Its probably people just trying to spam with network with minuscule transactions with 0 fees, Itll clear up eventually.

[Lauda]

Its probably people just trying to spam with network with minuscule transactions with 0 fees, Itll clear up eventually.

False. Please do research before posting or not not post at all.


Full information can be found here.

[mindrust]

It seems you don't have a smallest clue about how bad that can be turned out.
-snip-
That was what i meant. It will definitely kill bitcoin. Nobody will trust it again.

False. Anyone who believes that zero confirmation transactions are safe is either very misinformed, ignorant or delusional (or other?). Regardless of the situation with the network, accepting such transactions always carries a certain risk. I'm pretty sure merchants do not evaluate the TX priority. When dealing with non trivial amounts, anonymous people and such you should always wait for at least a singular confirmation. For example, trying to cheat Steam like this is ludicrous as they know who you are and can completely block your account for fraud.
Note: There is no *fix* to this. Even if the block size was 100 times larger, the network could still be flooded (regardless of whether they are genuine transactions, academic research or just malicious spam).

And how's that going to work for bitcoin with a half ass working network?

People keep dreaming about using bitcoin in their daily life yet it craps out by a network flood.

I wouldn't accept bitcoins if i were a fastfood franchise owner or another business something like that one. (grab and go)

Are people going to wait for hours to get their transactions confirmed before they leave walmart? Ridiculous.

[Carlton Banks]

And how's that going to work for bitcoin with a half ass working network?

People keep dreaming about using bitcoin in their daily life yet it craps out by a network flood.

I wouldn't accept bitcoins if i were a fastfood franchise owner or another business something like that one. (grab and go)

Are people going to wait for hours to get their transactions confirmed before they leave walmart? Ridiculous.

IRL transactions don't work very well with Bitcoin, you're not telling us anything new. May I suggest you do something productive with your outrage, as what your doing now is commonly referred to as a "tantrum".

[Dudeperfect]

I am not an expert in mining or bitcoin transaction issues but I genuinely think that this is just a matter of high traffic and appeals like boycott btc would work nicely if supported by everyone or at least most of the bitcoin users. Paying higher transaction fees might not work so we must give something on our individual level so I support boycott btc movement. No one should get panic because this is a temporary issue and will resolve soon.

[Thijsson]

Hope it'll not get more so we have to pay higher fees. I do a lot of micro payments like 1$ and have to pay 0,1$ in fees sometimes. :/

[yayayo]

Its probably people just trying to spam with network with minuscule transactions with 0 fees, Itll clear up eventually.

False. Please do research before posting or not not post at all.


Full information can be found here.

Thanks for linking this site again. The graphical overview is useful for determining the right fee depending on the desired confirmation time. It would be nice to have a similar feature for Bitcoin Core (I know there's already a pullbar to increase transaction fees, but it's not as useful as this overview).

The overview quite clearly shows that there is a large percentage of transactions in the mempool with very low fees (1-10 Sat/byte). So if you ask me, Hugroll is partly right. You can still get very fast confirmation by paying highly reasonable >80 Sat/byte, which normally are just a few cents per transaction.

I know that all seasoned frappuccino purchasers will hate me for this comment...

ya.ya.yo!

[Dahhi]

Wow ,almost 30,000 unconfirmed trans now

Are the miners sleeping? LOL

I believe the miners are waiting for people to increase their transaction fees - but then no one wants to pay more money...

[Pai Mei]

are the blocks full or are the miners getting greed with the transaction fee?

or someone send thousants of transactions at once?

[BitcoinHodler]

Its probably people just trying to spam with network with minuscule transactions with 0 fees, Itll clear up eventually.

False. Please do research before posting or not not post at all.


Full information can be found here.

i just want to add that spam attack he probably had heard and now is talking about is about the old spam attack that was happening (it was never with 0 fee) instead it was with lots of transactions with minimum fee. if i remember correctly it was 0.0001BTC with 0.0001BTC amount of fee.

[Lauda]

And how's that going to work for bitcoin with a half ass working network?
People keep dreaming about using bitcoin in their daily life yet it craps out by a network flood.

Calm down. It seems that there are plenty of misconceptions due to lack of technical knowledge. Bitcoin can not remain decentralized and process Visa-like amounts on chain unless there are some breakthroughs. Just run the math yourself:
Visa does 2000 TPS on average. Let's say that their daily peak is 4k. That is over 1300 times higher than Bitcoin. We are talking about 1.3 GB blocks here.

Are people going to wait for hours to get their transactions confirmed before they leave walmart? Ridiculous.

That's where things like LN come into play. Those TXs are instant and there are no confirmations.

I am not an expert in mining or bitcoin transaction issues but I genuinely think that this is just a matter of high traffic and appeals like boycott btc would work nicely if supported by everyone or at least most of the bitcoin users. Paying higher transaction fees might not work so we must give something on our individual level so I support boycott btc movement. No one should get panic because this is a temporary issue and will resolve soon.

Please do not post then. The boycott Bitcoin *movement* is a bad joke.

I believe the miners are waiting for people to increase their transaction fees - but then no one wants to pay more money...

There are two problems with this post: False assumption and hasty generalization fallacy. 'No one wants to pay 30 cents to transfer $1m right?'

[shorena]

are the blocks full or are the miners getting greed with the transaction fee?

or someone send thousants of transactions at once?

Looks mostly full to me -> https://www.blocktrail.com/BTC/blocks/1