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Author Topic: More than 50,000 unconfirmed transactions  (Read 16302 times)
Gleb Gamow
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February 03, 2017, 04:03:38 AM
 #201



FYI:
BTC better learn from what happened to ixcoin, when their large PoW miners dropped off it was only finding a block every few days.



You cannot really think that do you? Bitcoin has already reached critical mass where it already has passed the ponzi scheme stage and it is already entering a stage where it is already has a circular economy. If the big miners drop off that will be a welcome opportunity for the other miners waiting in line to make up for the gap. So it is not really comparable with Ixcoin.


It is a security Vulnerability nothing more nothing less,
Since BTC only updates their difficulty every 2 weeks,

Any of these scenarios could activate the issue that could cause blocks to be found intermittently.

1.  Large ASICS manufacturer drives up the Difficulty and then disconnects to cause a crash in BTC price (Shorting the Price of BTC to make money.)
2.  Someone physically damages the internet connection of a few of the largest mining Pools at the same time.
3.  Natural disasters such as tsunami take out a few large mining pools
4.  Hackers or a rogue governments DDOS the largest mining pools for a few days to prevent them from staying in sync with the network


The Solution so this is not an issue, is simple and the majority of alts have already implemented it ,
change the code so the difficulty is recalculated per every block instead of every 2 weeks.
But BTC core devs are too busy trying to get the altcoin know as LN to take over BTC to fix any onchain security threats.

 Cool

  

After this post it is hard for me to take you seriously. You are only trolling and spreading FUD especially with you telling everyone to abandon Bitcoin and hold Litecoin instead in a post right after this. You have exposed your hidden and real motivation for doing so.


FYI:
If you need to transfer fast , either pay an insanely High BTC Fee or just use LTC instead.
LTC is faster & cheaper with none of these headaches.



You are funny. Litecoin will never be as big as Bitcoin. You are getting desperate.  Roll Eyes

Wait till Vlad gets here and starts advancing his pet alt. First, let him finish eating his Romanian apple cooped up in some four-star hotel overlooking the protesters outside.
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February 03, 2017, 04:08:16 AM
 #202


LTC may not be , but at least it is working.  Wink

Funny, how you BTC shrills call everything fud, instead of working toward a fix.

Ever think of getting the issue fixed or are you guys incapable of that.  Cheesy
1 hard fork with a 4 mb blocksize and you would not have to lie and call fud all of the time.

 Cool

That does not change anything, sorry. Bitcoin is still number 1 and will stay there for a very long time. Talk to me again once Litecoin gets past the ponzi scheme stage and develop its own economy like Bitcoin. If you look at the whole cryptocurrency landscape, right now Monero has a better chance of success than Litecoin.

Welcome in my ignore list.


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kiklo
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February 03, 2017, 04:17:57 AM
 #203


LTC may not be , but at least it is working.  Wink

Funny, how you BTC shrills call everything fud, instead of working toward a fix.

Ever think of getting the issue fixed or are you guys incapable of that.  Cheesy
1 hard fork with a 4 mb blocksize and you would not have to lie and call fud all of the time.

 Cool

That does not change anything, sorry. Bitcoin is still number 1 and will stay there for a very long time. Talk to me again once Litecoin gets past the ponzi scheme stage and develop its own economy like Bitcoin. If you look at the whole cryptocurrency landscape, right now Monero has a better chance of success than Litecoin.

Welcome in my ignore list.

Your Ignore List,
LOL, See Good Things do come to those that Wait.   Cheesy

Once coinbase gets off their slow ass and makes a easy LTC wallet , your BTC world will wets their pants.

This artificial pump of BTC, gives you confidence, be real funny when those Chinese guys cash out (Won't be too much longer.)   Cheesy


 Cool

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February 03, 2017, 04:26:31 AM
 #204

I don't really know where else to go from that..   1MB will seem like 1KB soon enough.  What do..

 
1 MB was perfectly fine for Bitcoin at the beginning. But like all technology, after some time it becomes obsolete and will require an update.
The problem of bitcoin is not that it cannot be better, is is the community that can't seem to find a way how to achieve that progress, arguing and forcing different scaling solutions.

If that will continue then Bitcoin might be stuck forever with 1MB and it won't be long before users frustrated with the bitcoin network will ditch it in favor of other cryptos.


@ Mr. ignore list
Others see it too.  Smiley


 Cool
marcoman22
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February 03, 2017, 06:01:40 AM
 #205

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, im also waiting for past 4 hours.I have sent btc from my wallet to localbitcoins to cashout.I need money urgently, but just sitting infront of my laptop to see its confirmation.A critical stage has come to bitcoin community and block size issue has to be solved.
Gleb Gamow
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February 03, 2017, 06:06:55 AM
 #206



FYI:
BTC better learn from what happened to ixcoin, when their large PoW miners dropped off it was only finding a block every few days.



You cannot really think that do you? Bitcoin has already reached critical mass where it already has passed the ponzi scheme stage and it is already entering a stage where it is already has a circular economy. If the big miners drop off that will be a welcome opportunity for the other miners waiting in line to make up for the gap. So it is not really comparable with Ixcoin.


It is a security Vulnerability nothing more nothing less,
Since BTC only updates their difficulty every 2 weeks,

Any of these scenarios could activate the issue that could cause blocks to be found intermittently.

1.  Large ASICS manufacturer drives up the Difficulty and then disconnects to cause a crash in BTC price (Shorting the Price of BTC to make money.)
2.  Someone physically damages the internet connection of a few of the largest mining Pools at the same time.
3.  Natural disasters such as tsunami take out a few large mining pools
4.  Hackers or a rogue governments DDOS the largest mining pools for a few days to prevent them from staying in sync with the network


The Solution so this is not an issue, is simple and the majority of alts have already implemented it ,
change the code so the difficulty is recalculated per every block instead of every 2 weeks.
But BTC core devs are too busy trying to get the altcoin know as LN to take over BTC to fix any onchain security threats.

 Cool

  

After this post it is hard for me to take you seriously. You are only trolling and spreading FUD especially with you telling everyone to abandon Bitcoin and hold Litecoin instead in a post right after this. You have exposed your hidden and real motivation for doing so.


FYI:
If you need to transfer fast , either pay an insanely High BTC Fee or just use LTC instead.
LTC is faster & cheaper with none of these headaches.



You are funny. Litecoin will never be as big as Bitcoin. You are getting desperate.  Roll Eyes

Wait till Vlad gets here and starts advancing his pet alt. First, let him finish eating his Romanian apple cooped up in some four-star hotel overlooking the protesters outside.

After over eight hours my third transaction just got confirmed but not the second one. Odd!
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February 03, 2017, 06:51:25 AM
 #207

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!


Spam attack. Its proven.

What we need is a new brain for you. Welcome on my ignorelist.

Segwit is a great tech, because of smart contract abilities.

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February 03, 2017, 07:15:47 AM
 #208

BTC transactions are backlogged again.   Tongue


67468 Unconfirmed Transactions
https://blockchain.info/unconfirmed-transactions


 Cool


FYI:
If you need to transfer fast , either pay an insanely High BTC Fee or just use LTC instead.
LTC is faster & cheaper with none of these headaches.


FYI2:
The backlog this time is not being caused by blocks not being found like the last time.
Blocks are being found every few minutes this time, the network just can't keep up with the Transactions Volume.  Tongue
with the number of confirmation of 50.000 are still think bitcoin will replace fiat money or currency futures? I don't like to confirm to the tens of thousands, are not useful and visible only throw the time.
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February 03, 2017, 07:45:09 AM
 #209

BTC transactions are backlogged again.   Tongue


67468 Unconfirmed Transactions
https://blockchain.info/unconfirmed-transactions


 Cool


FYI:
If you need to transfer fast , either pay an insanely High BTC Fee or just use LTC instead.
LTC is faster & cheaper with none of these headaches.


FYI2:
The backlog this time is not being caused by blocks not being found like the last time.
Blocks are being found every few minutes this time, the network just can't keep up with the Transactions Volume.  Tongue
with the number of confirmation of 50.000 are still think bitcoin will replace fiat money or currency futures? I don't like to confirm to the tens of thousands, are not useful and visible only throw the time.

there is a spam attack going on and the attackers have millions of dollars at their disposal to attack the network only spending a small portion of that amount on fees.

with 10% of that amount you can cripple any bank, fiat system and easily any online payment processor such as PayPal. the difference is that if you get caught you will be prosecuted but with bitcoin it seems like they are getting away with it so far.

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February 03, 2017, 09:08:59 AM
 #210



Wait till Vlad gets here and starts advancing his pet alt. First, let him finish eating his Romanian apple cooped up in some four-star hotel overlooking the protesters outside.

Haha.  It's true, but I might start throwing apples soon. 

IXcoin is gonna rule the world.  Litecoin is just a copy of Tenebrix and is far from the ideal solution. 
Not to mention iXcoin was launched by the Satoshi Team and was the first Bitcoin clone.  But that's just a bonus.  Smiley

iXcoin - Welcome to the F U T U R E!
Gleb Gamow
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February 03, 2017, 10:59:16 AM
 #211



Wait till Vlad gets here and starts advancing his pet alt. First, let him finish eating his Romanian apple cooped up in some four-star hotel overlooking the protesters outside.

Haha.  It's true, but I might start throwing apples soon. 

IXcoin is gonna rule the world.  Litecoin is just a copy of Tenebrix and is far from the ideal solution. 
Not to mention iXcoin was launched by the Satoshi Team and was the first Bitcoin clone.  But that's just a bonus.  Smiley

Dude, are you stalking me? And don't claim that I PM'ed you so that you'll reply, for that dog won't hunt.  Wink Wink Wink Wink Wink Wink Wink Wink Wink Wink Wink Wink Wink Wink <that should be enough winks in alluding to something>
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February 03, 2017, 11:10:56 AM
 #212

BTC transactions are backlogged again.   Tongue


67468 Unconfirmed Transactions
https://blockchain.info/unconfirmed-transactions


 Cool


FYI:
If you need to transfer fast , either pay an insanely High BTC Fee or just use LTC instead.
LTC is faster & cheaper with none of these headaches.


FYI2:
The backlog this time is not being caused by blocks not being found like the last time.
Blocks are being found every few minutes this time, the network just can't keep up with the Transactions Volume.  Tongue
with the number of confirmation of 50.000 are still think bitcoin will replace fiat money or currency futures? I don't like to confirm to the tens of thousands, are not useful and visible only throw the time.

there is a spam attack going on and the attackers have millions of dollars at their disposal to attack the network only spending a small portion of that amount on fees.

with 10% of that amount you can cripple any bank, fiat system and easily any online payment processor such as PayPal. the difference is that if you get caught you will be prosecuted but with bitcoin it seems like they are getting away with it so far.



LTC fixed the spam issue in 2015.
There is nothing stopping BTC from using the same type of fix.

https://cointelegraph.com/news/litecoin-shows-there-is-a-simple-fix-for-spam-attacks-on-bitcoin

Quote
CT: Can you explain why Litecoin is ‘immune’ to the spam attack?

CL: The fix implemented in Litecoin is just to charge the sender a fee for each tiny output he creates. For example, in this specific attack, the sender is charged one fee for sending to 34 tiny outputs of 0.00001 BTC. With the fix, that fee would be 34 times as much. So it would cost the attacker a lot more to perform the spam attack. The concept is fairly simple: the sender should pay for each tiny output he/she creates.


 Cool
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February 03, 2017, 11:24:17 AM
 #213

this really is a terrible figure
this too inconvenient, I think it should be addressed immediately
market stalled


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btcdiggingmaster
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February 03, 2017, 11:30:21 AM
 #214

this really is a terrible figure
this too inconvenient, I think it should be addressed immediately
market stalled

Now slowly i am getting confirmation from the network don't worry, every body will get their money some times network will be very busy to mature the block. So we have to give it a time this is not first happend, many time happen like this.


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February 03, 2017, 03:11:14 PM
 #215

I didn't think it would happen to me but it is now. I'm still waiting for 1 confirmation for a very small transaction I made 12 hours ago. Maybe it's time to activate segwit or hard fork to Bitcoin Unlimited. Something. Anything! This cannot happen on a regular basis for a payment platform if it is to move forward.

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February 03, 2017, 03:14:16 PM
 #216

I didn't think it would happen to me but it is now. I'm still waiting for 1 confirmation for a very small transaction I made 12 hours ago. Maybe it's time to activate segwit or hard fork to Bitcoin Unlimited. Something. Anything! This cannot happen on a regular basis for a payment platform if it is to move forward.
Do whatever you want, it is what it is. sorry but just use a good fee for miners to have an incentive.
Hard fork in your dreams.














 

 

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February 03, 2017, 04:03:06 PM
 #217

this really is a terrible figure
this too inconvenient, I think it should be addressed immediately
market stalled
I have recently sent some bitcoin with around 70 satoshi per byte fee and it get confirmed within next 2 blocks. So whenever there will be attack on bitcoin network or whenever there will be lots of unconfirmed transactions in mempool just include high fee per byte than it will went through smoothly.

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February 03, 2017, 04:12:51 PM
 #218

2017

bitcoin & bitcoin classic Smiley
BrewMaster
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February 03, 2017, 04:16:33 PM
 #219

this really is a terrible figure
this too inconvenient, I think it should be addressed immediately
market stalled
I have recently sent some bitcoin with around 70 satoshi per byte fee and it get confirmed within next 2 blocks. So whenever there will be attack on bitcoin network or whenever there will be lots of unconfirmed transactions in mempool just include high fee per byte than it will went through smoothly.

you got lucky because 70 satoshi per byte was too low today almost half what is supposed to be according to that 21.co fee site. i had a transaction with low fees (about the same 70-80 satoshi per bytes) today at it took me about 5 hours to see a confirmation.

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February 03, 2017, 04:36:09 PM
 #220

The same story like as was one week ago. Many unconfirmed transactions, many people waiting more than 10 hours when their fees are about 65s/b and they cannot understand the reason. Some people yelling that is only a spam attack, and other quarrel in favor of one or the other solution (blocksize, segwit) without any solution in the end. On the other side people are speaking about mass worldwide adoption or what they will do if the government of 'x' country will ban or regulate bitcoin. At last, the only happy are miners they easily see good profits when fees are high and bitcoin price more than $1000.
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