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Author Topic: More than 50,000 unconfirmed transactions  (Read 15784 times)
cpfreeplz
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January 29, 2017, 03:40:11 AM
 #141

This is a problem that must be quickly solved, the network has been chaos for days. Medium priority transactions take 5-6 hours to confirm. At least it's an easy thing to solve, the tricky thing is getting acceptance for solution. Decentralization is like this.  Grin

Medium priority is really arbitrary. Talk in Satoshis per byte so people know what exactly you're referring to on any given day.

I'm finding that the fees are just where they have been lately so if you cheap out (20 Satoshis/byte) you'll be waiting hours.














 

 

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rapta
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January 29, 2017, 04:07:30 AM
 #142

Adjust your fees and your transactions will sail through.  Smiley
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January 29, 2017, 06:21:21 AM
 #143

Is there any possible way that BTC can achieve the transaction speeds needed to become the primary currency of a major country at least?

I am not an expert at all but from what I am gathering here SegWit is only a temporary solution and more block size expansion would be needed in the future

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January 29, 2017, 06:44:32 AM
 #144

This is a problem that must be quickly solved, the network has been chaos for days. Medium priority transactions take 5-6 hours to confirm. At least it's an easy thing to solve, the tricky thing is getting acceptance for solution. Decentralization is like this.  Grin

Blockchain cant be decentralized. First of all transaction  Fees should not be altered as medium or low priority can slow down the entire block. A few times high priority transaction takes even 30 mins to confirm. This issue is still unaddressed in bitcoin and need to solve in order to make bitcoins more effective.

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January 29, 2017, 07:08:39 AM
 #145

Is there any possible way that BTC can achieve the transaction speeds needed to become the primary currency of a major country at least?

I am not an expert at all but from what I am gathering here SegWit is only a temporary solution and more block size expansion would be needed in the future



if you don't pay the correct fee there is nothing can speed up the transaction for you, just take a look at the ongoing unconfirmed transaction, the majority are lower than the average which is 25k satoshi now

people should really take a look at this when they send their coins, https://bitcoinfees.21.co/
Herbert2020
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January 29, 2017, 07:26:29 AM
 #146

Is there any possible way that BTC can achieve the transaction speeds needed to become the primary currency of a major country at least?

I am not an expert at all but from what I am gathering here SegWit is only a temporary solution and more block size expansion would be needed in the future



if you don't pay the correct fee there is nothing can speed up the transaction for you, just take a look at the ongoing unconfirmed transaction, the majority are lower than the average which is 25k satoshi now

people should really take a look at this when they send their coins, https://bitcoinfees.21.co/

paying higher fees is not the solution, it is like an escape temporarily for users to compete with each others and the spam attacks to get a faster confirmation. and things may not be as bad as it seems these days but soon there will come a time that real transactions will be stuck waiting for confirmation no matter how much higher fees they pay because simply there is not enough room in a block to include all of them.

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PovertyByte
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January 29, 2017, 08:43:37 AM
 #147

Is there any possible way that BTC can achieve the transaction speeds needed to become the primary currency of a major country at least?

I am not an expert at all but from what I am gathering here SegWit is only a temporary solution and more block size expansion would be needed in the future



if you don't pay the correct fee there is nothing can speed up the transaction for you, just take a look at the ongoing unconfirmed transaction, the majority are lower than the average which is 25k satoshi now

people should really take a look at this when they send their coins, https://bitcoinfees.21.co/

Thing is I don't know anything about paying or not paying the fee. Far as I know I just scan a code and send some BTC and I figure the fee is standardized
Farma
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January 29, 2017, 09:16:49 AM
 #148

Is there any possible way that BTC can achieve the transaction speeds needed to become the primary currency of a major country at least?

I am not an expert at all but from what I am gathering here SegWit is only a temporary solution and more block size expansion would be needed in the future



if you don't pay the correct fee there is nothing can speed up the transaction for you, just take a look at the ongoing unconfirmed transaction, the majority are lower than the average which is 25k satoshi now

people should really take a look at this when they send their coins, https://bitcoinfees.21.co/

paying higher fees is not the solution, it is like an escape temporarily for users to compete with each others and the spam attacks to get a faster confirmation. and things may not be as bad as it seems these days but soon there will come a time that real transactions will be stuck waiting for confirmation no matter how much higher fees they pay because simply there is not enough room in a block to include all of them.
pay a high fee is not a good solution, and it probably will not make people stop to make transactions. Well, maybe it is unconfirmation very much. it may also be caused by deficiencies transaction system performance, which is rather difficult to keep pace with the number of transactions that occur per minute.

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January 29, 2017, 12:16:00 PM
 #149

This is a problem that must be quickly solved, the network has been chaos for days. Medium priority transactions take 5-6 hours to confirm. At least it's an easy thing to solve, the tricky thing is getting acceptance for solution. Decentralization is like this.  Grin

Blockchain cant be decentralized.
Blockchain is decentralised. Theres no central entity controlling it.
First of all transaction  Fees should not be altered as medium or low priority can slow down the entire block. A few times high priority transaction takes even 30 mins to confirm. This issue is still unaddressed in bitcoin and need to solve in order to make bitcoins more effective.
Blocks are never and will never be slowed down because of any transactions. A transaction that pays a high fee/size will have a higher chance of getting included in the next block as compared to another transaction who paid lesser fee/size.















 

 

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DooMAD
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January 29, 2017, 12:45:14 PM
 #150

paying higher fees is not the solution, it is like an escape temporarily for users to compete with each others and the spam attacks to get a faster confirmation. and things may not be as bad as it seems these days but soon there will come a time that real transactions will be stuck waiting for confirmation no matter how much higher fees they pay because simply there is not enough room in a block to include all of them.

It's a point I've raised many times before, but it seems to fall on deaf ears.  People start talking about how it'll supposedly be better when the microtransactions are gone and it'll be just "legitimate" transactions (as if legitimate is something consensus has arbitrarily defined) remaining.  But it doesn't change the fact that finite space is finite and full means full.  In reality, in this economy, microtransactions should be seen as a "buffer" or "padding", so once they're gone, it means everyone queues when they get caught out by the guess-the-fee lottery.  There's a sweet spot we ideally need to hit, where there aren't too many microtransactions and enough so that larger transactions aren't delayed.  But some just aren't interested because they believe not having a buffer is somehow healthier.  Plus no one really knows how to maintain said sweet spot, since network traffic is almost impossible to predict.  Adaptive blocksizes are problematic to implement and it doesn't feel like progress is being made in that area.

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January 29, 2017, 01:16:06 PM
 #151

Sh*t! It's happening again! We really need to increase that damned block size!

I've been waiting for more than 6 hours for a transaction to be confirmed, and I'm shocked to see there are more than 50,000 in the queue.

https://blockchain.info/unconfirmed-transactions

We need SegWit, or an urgent block size increase. For the sake of BTC, something needs to be done, fast!

Yes, with current block size, only 7 transactions per second can be made.There is a big difference of opinion within the bitcoin community about increasing block size.Its not good for businesses who nhave adapted bitcoin.There are still thousands of dollar investments waiting to be invested in bitcoin related business.So, it has to be solved.
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January 29, 2017, 03:41:02 PM
 #152

It is one of the most complicated arguments in the Bitcoin market right now. For the moment there is no long-term solution for this situation. Increasing the transaction fees will just make a short term solution as that will have some negative impact of the market.  Sad

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January 29, 2017, 04:08:13 PM
 #153

It is one of the most complicated arguments in the Bitcoin market right now. For the moment there is no long-term solution for this situation. Increasing the transaction fees will just make a short term solution as that will have some negative impact of the market.  Sad
The transaction delay we are facing is not a new problem and the issue is looming for some time now and you can add an extra fee to jump up the transaction queue and it will create issues at a later stage without any doubt as the transaction fees keep on increasing with time and is not a good news for normal bitcoin users and the core team has to come up with a solution for this issue.

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bit1
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January 29, 2017, 06:46:51 PM
 #154

paying higher fees is not the solution, it is like an escape temporarily for users to compete with each others and the spam attacks to get a faster confirmation. and things may not be as bad as it seems these days but soon there will come a time that real transactions will be stuck waiting for confirmation no matter how much higher fees they pay because simply there is not enough room in a block to include all of them.

It's a point I've raised many times before, but it seems to fall on deaf ears.  People start talking about how it'll supposedly be better when the microtransactions are gone and it'll be just "legitimate" transactions (as if legitimate is something consensus has arbitrarily defined) remaining.  But it doesn't change the fact that finite space is finite and full means full.  In reality, in this economy, microtransactions should be seen as a "buffer" or "padding", so once they're gone, it means everyone queues when they get caught out by the guess-the-fee lottery.  There's a sweet spot we ideally need to hit, where there aren't too many microtransactions and enough so that larger transactions aren't delayed.  But some just aren't interested because they believe not having a buffer is somehow healthier.  Plus no one really knows how to maintain said sweet spot, since network traffic is almost impossible to predict.  Adaptive blocksizes are problematic to implement and it doesn't feel like progress is being made in that area.
OK, I just want to say something about this if you let me, about "legitimate" transactions, in the world in which we move some things are based on precisely the fact that need be defined but not always  from the beginning, there are certain criteria that need to be fulfilled to make use of some thing or service, an example could will be more clear, in most of the countries vehicles are used where the steering wheel goes of the left side taking as reference to the driver and in others the right side, beyond which at some point there was no consensus to make all the steering wheels of the car on the same side, each one chose to make his own method, and that is what is actually being seen, solutions to scalability are already given by those who have focused on carrying them out, everyone can easily realize this, only need to check the number of nodes daily  for a period of time and see which client are running the most of nodes, and the rest will depend on the performance of each network, although it was not related to scalability, ETH did this, if at any point it fails, we must not forget that it was mentioned at the beginning as an experiment.

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January 29, 2017, 06:51:06 PM
 #155

It is one of the most complicated arguments in the Bitcoin market right now. For the moment there is no long-term solution for this situation. Increasing the transaction fees will just make a short term solution as that will have some negative impact of the market.  Sad
The transaction delay we are facing is not a new problem and the issue is looming for some time now and you can add an extra fee to jump up the transaction queue and it will create issues at a later stage without any doubt as the transaction fees keep on increasing with time and is not a good news for normal bitcoin users and the core team has to come up with a solution for this issue.

If this continue for a long time yet many persons won't want to start using bitcoins. Some good investors can stop using it too because this problem. Consequently bitcoin can lose price, popularity and reach to ostracism as crypto-currency.
An altcoin can come with a better system for this issue with transactions and become the new main crypto currency. Bitcoin needs to solve it fast or it won't be what it's now anymore.

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January 29, 2017, 06:54:33 PM
 #156

at least it's an easy thing to solve, the tricky thing is getting acceptance for solution. Decentralization is like this.  Grin
Thats sadly right... i mean, its easy solution but with decentralization and many groups of interest solution could be impossible :/.
I hope there will be solution to this, coz 5 hours confirmation time is joke compared to 10 minutes from satoshi whitepaper.

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January 29, 2017, 06:55:03 PM
 #157

It is one of the most complicated arguments in the Bitcoin market right now. For the moment there is no long-term solution for this situation. Increasing the transaction fees will just make a short term solution as that will have some negative impact of the market.  Sad
The transaction delay we are facing is not a new problem and the issue is looming for some time now and you can add an extra fee to jump up the transaction queue and it will create issues at a later stage without any doubt as the transaction fees keep on increasing with time and is not a good news for normal bitcoin users and the core team has to come up with a solution for this issue.
It has been suggested to do something about it, like Segwit or Classic (can't remember what classic does), so something like that would aim at fixing these issues.

If I'm correct a lot of the issues we have with fees simply comes down to people constantly sending bigger and bigger fees, if we could get people to stop doing that a lot of our issues would be fixed, minus the quantity of transactions and those issues.














 

 

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shinratensei_
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January 29, 2017, 11:31:30 PM
 #158

It is one of the most complicated arguments in the Bitcoin market right now. For the moment there is no long-term solution for this situation. Increasing the transaction fees will just make a short term solution as that will have some negative impact of the market.  Sad
The transaction delay we are facing is not a new problem and the issue is looming for some time now and you can add an extra fee to jump up the transaction queue and it will create issues at a later stage without any doubt as the transaction fees keep on increasing with time and is not a good news for normal bitcoin users and the core team has to come up with a solution for this issue.
It has been suggested to do something about it, like Segwit or Classic (can't remember what classic does), so something like that would aim at fixing these issues.

If I'm correct a lot of the issues we have with fees simply comes down to people constantly sending bigger and bigger fees, if we could get people to stop doing that a lot of our issues would be fixed, minus the quantity of transactions and those issues.
Simply answer we are just need the blocksize increase with large scale to processing the transaction it will reduce the spam attack's effect to the bitcoin transaction priority.

But soon we won't use Segwit and BC won't, either

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January 30, 2017, 02:16:48 AM
 #159

Unconfirmed Transactions Rising Again

Observe the blockchain  https://blockchain.info/
1 hour 18 minutes since the last block meaning no transactions received even 1 confirmation let along the 3 needed to complete a transfer of BTC.
450661    1 hour 18 minutes    1708    19,052.31 BTC    ViaBTC    742.18


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January 30, 2017, 03:52:05 AM
 #160

Here we go again. Another transaction that was made over 3 hours ago and still no confirmations made. If this takes days then this is a first for me. I might tell Kwukduck I am sorry and that all hell will break loose in the forum soon.

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