More than 50,000 unconfirmed transactions

[Searing]

Got a bitmixer.io sig campaign payment of 5 bucks or so....(they probably sent it with no fee lol) It has been 2 days unconfirmed...this could be a long wait lol

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[Vivace92]

Oops, I just know that there are many confirmation on every transaction. Then what's the advantage lots of confirmation?

[ranochigo]

This is one of weakness bitcoin, confirmation very much and varied. I think it should be addressed as will be a waste of resources. What the function of the confirmation very much? I am sure there is no benefits, because if you already send fact can not be canceled.

Prevent the double spend, reaching your legality because every transaction has got validated by miner. You must read more about that.  

Technically, every transaction is validated by the nodes that relays it. If it doesn't follow the rules they have (eg. spending a spent output), they will not be relayed. Miners are merely "stamping" the transaction into the Blockchain. Before this, they are just in the mempool.

Oops, I just know that there are many confirmation on every transaction. Then what's the advantage lots of confirmation?

Imagine your transaction as sweets, blocks as huge bricks piled ontop of the sweet. The more bricks there are, the harder it is to get the sweet and replacing it. Thus, it makes it harder to double spend.

[vennali]

The no. of unconfirmed transactions are constantly kept over 50000. It was over 70000 yesterday and went below 50000 for about 2-5 mins sometime back but then again pushed over 50000. Is it happening because the spammers are still on it constantly trying to keep the unconfirmed transactions over 50000? or has the spamming been stopped but the no. of transactions have been high now generally and coz of that the unconfirmed transactions are constantly above 50000?

[-ck]

The no. of unconfirmed transactions are constantly kept over 50000. It was over 70000 yesterday and went below 50000 for about 2-5 mins sometime back but then again pushed over 50000. Is it happening because the spammers are still on it constantly trying to keep the unconfirmed transactions over 50000? or has the spamming been stopped but the no. of transactions have been high now generally and coz of that the unconfirmed transactions are constantly above 50000?

It won't stay high; it looks like intermittent injections to keep it high as I said a few posts back.

[1Referee]

Got a bitmixer.io sig campaign payment of 5 bucks or so....(they probably sent it with no fee lol) It has been 2 days unconfirmed...this could be a long wait lol

You're a legendary member and don't even bother to check the standard transaction details? Hmm... It has in fact a fee included, namely 0.0001BTC. I have submitted your transaction to the pool ViaBTC in order to speed up the confirmation of your transaction before the transaction drops entirely. It's of course no guarantee that it will get confirmed any time soon due to ViaBTC only having just over 6% of the total network power. ViaBTC is your only chance of getting your transaction confirmed. For everyone else wondering ; https://www.viabtc.com/tools/txaccelerator/

[rexxarofmoknathal]

Got a bitmixer.io sig campaign payment of 5 bucks or so....(they probably sent it with no fee lol) It has been 2 days unconfirmed...this could be a long wait lol

You're a legendary member and don't even bother to check the standard transaction details? Hmm... It has in fact a fee included, namely 0.0001BTC. I have submitted your transaction to the pool ViaBTC in order to speed up the confirmation of your transaction before the transaction drops entirely. It's of course no guarantee that it will get confirmed any time soon due to ViaBTC only having just over 6% of the total network power. ViaBTC is your only chance of getting your transaction confirmed. For everyone else wondering ; https://www.viabtc.com/tools/txaccelerator/

Why is that his only chance of the transaction getting confirmed. Doesn't every tx get confirmed eventually?

But I had no idea about that service before, thanks for sharing that 

[vennali]

Got a bitmixer.io sig campaign payment of 5 bucks or so....(they probably sent it with no fee lol) It has been 2 days unconfirmed...this could be a long wait lol

You're a legendary member and don't even bother to check the standard transaction details? Hmm... It has in fact a fee included, namely 0.0001BTC. I have submitted your transaction to the pool ViaBTC in order to speed up the confirmation of your transaction before the transaction drops entirely. It's of course no guarantee that it will get confirmed any time soon due to ViaBTC only having just over 6% of the total network power. ViaBTC is your only chance of getting your transaction confirmed. For everyone else wondering ; https://www.viabtc.com/tools/txaccelerator/

Ive tried it and got the message that the request was successful. I'm a little skeptical of it to work but i'm willing to try it as long as it is not harmful. Let's see if my transaction gets confirmed in an hour or so. It it does, I'll edit my post and write about it.

[Searing]

Got a bitmixer.io sig campaign payment of 5 bucks or so....(they probably sent it with no fee lol) It has been 2 days unconfirmed...this could be a long wait lol

You're a legendary member and don't even bother to check the standard transaction details? Hmm... It has in fact a fee included, namely 0.0001BTC. I have submitted your transaction to the pool ViaBTC in order to speed up the confirmation of your transaction before the transaction drops entirely. It's of course no guarantee that it will get confirmed any time soon due to ViaBTC only having just over 6% of the total network power. ViaBTC is your only chance of getting your transaction confirmed. For everyone else wondering ; https://www.viabtc.com/tools/txaccelerator/

I stand corrected. I would have been just fine if you would have done the transaction with NO FEE. It is not acceptable that even with NO fee it has taken this long. My view was
more about the process then actually any blame, if you took at as so I apologize.

As to the point I obviously blew..trying to say....wtf is going on where it takes 2 day for ANY transaction to happen. IF according to some this is because of the block size
situation..then something better move or we will see more of this kinda thing.

Also is it really a spam attack or is  it just finally come home to roost?

Again, from my post .it was just weird you can't with a fee or without a fee get a 5 buck transaction thru. I mean hell you certainly can't buy anything on www.newegg.com
in that they have only (or did) a 1 hour turn around time when I did it fall of 2016.

So confused/befuddled and generally concerned ..especially if you guys feel it is somewhat due to the block size debate and the various btc dev groups talking over each other.

anyway pm apology sent. (Crow it tastes like Chicken!)

[talkbitcoin]

Got a bitmixer.io sig campaign payment of 5 bucks or so....(they probably sent it with no fee lol) It has been 2 days unconfirmed...this could be a long wait lol

You're a legendary member and don't even bother to check the standard transaction details? Hmm... It has in fact a fee included, namely 0.0001BTC. I have submitted your transaction to the pool ViaBTC in order to speed up the confirmation of your transaction before the transaction drops entirely. It's of course no guarantee that it will get confirmed any time soon due to ViaBTC only having just over 6% of the total network power. ViaBTC is your only chance of getting your transaction confirmed. For everyone else wondering ; https://www.viabtc.com/tools/txaccelerator/

Ive tried it and got the message that the request was successful. I'm a little skeptical of it to work but i'm willing to try it as long as it is not harmful. Let's see if my transaction gets confirmed in an hour or so. It it does, I'll edit my post and write about it.

:O
how can it be harmful? you are submitting what already exists (your transaction ID) it is not even the hex format it is just the ID (irreversible double sha of hex).
and there is nothing to be skeptical of! viabtc is a mining pool which you can see their hashrate on blockchain.info charts and they are doing this for a limited number of transactions (i think 100 each block) that have a minimum amount of fee but still low amount.

[1Referee]

Why is that his only chance of the transaction getting confirmed. Doesn't every tx get confirmed eventually?

But I had no idea about that service before, thanks for sharing that  

Pools in the early days prioritized transactions in a whole different way, where right now, their only priority is to scoop up as many transaction fees as possible. In this case, the transaction of searing will not get picked up unless other people's transaction fees are declining, where it results that the 0.0001BTC included fee to byte ratio changes from being not interesting to relatively interesting, and thus you have more chances of getting it confirmed. But looking at the mempool, I don't see that happening yet. That's why the transactiona accelerator from ViaBTC comes handy if it really works. And nope, if pools don't pick up your transaction, then after a few days it will vanish, where the coins return back to your wallet.

-snip-

No worries. I totally get your point when it comes to current situation. It's indeed a big shame that it takes so insanely long for certain transactions to get confirmed, while it was praised to be the main purpose of why Bitcoin was created (to easily transact without third party interference). It must be some sort of spam attack considering the massive peak in transactions. It isn't natural growth at all. But these attacks come and go, it will only take some time. Interesting chart; https://blockchain.info/charts/mempool-size?timespan=1year

As we speak, your transaction is confirmed by ViaBTC. It really works.

[wuvdoll]

This is one of weakness bitcoin, confirmation very much and varied. I think it should be addressed as will be a waste of resources. What the function of the confirmation very much? I am sure there is no benefits, because if you already send fact can not be canceled.

Prevent the double spend, reaching your legality because every transaction has got validated by miner. You must read more about that.   

And non technical guys should make sure that they ask the senders to send at least 0.001 fees each transaction and while paying doing the same ourself. Also I am quite worried that the number of unconfirmed transaction are just increasing day by day .. hope gets sorted soon.

[GoodLuck2]

This is the Chinese Cashing Out before the Price Drop.

Longer you wait to do the same , the more capital you will lose.  


 

What makes you think the price will drop? We can see big volumes no small down tick it's an indicator that whales buying furtively.  
Bitcoin makes x3 by summer 2017  

Price has gone down $15 in the last 20 minutes, BTC is heading down,
Chinese are selling because the new trading fees on their exchanges mean they won't be able to manipulate the price like when it was zero fees.
Watch the Charts tonight and decide for yourself.  
http://coinmarketcap.com/currencies/bitcoin/#charts
Select 1d so you can see the decline begin.

 

Why it's all about the Chinese? Why they have big amount of money in this business? Why another countries can't be like Chinese so they can make a move for bitcoin too? Why?
So many unconfirmed transactions from Chinese users before the price down is mean they know what will happen next.

almost 50 to 60 persent of user of bitcoins are from china and now china is the biggest user of it so if any currency has so much of user from same country it has a great impact on that currency...., so you cannot underestimate their part......!!!

[countryfree]

It seems to be over, with unconfirmed transactions down to 37,000 but it remains scary. I don't know who made that mess, and I hope someone will be able to identify him, but it's hard not be impressed. I mean the network has been spammed for some 48 hours! BTC has enemies and they aren't a lone, bored teenager. It takes significant means to send so much spam. I hope core developers will find solutions to prevent this in the future.

[Wind_FURY]

I often think that too many confirmation useless, one thing which could make the bitcoin not ideal so that there are opportunities for other coins that can be used to replace the bitcoin.

A idiotic comment from a person who probably does not care about Bitcoin. Most people like you only care about how you will make money out of this new innovative idea. For your information the more confirmations you transactions have the more secure it is in the blockchain. So if you really care about all your inputs, give it at least 3 confirmations before you can really call it yours.

I am worried that if it took 50.000 confirmations then how if 1 million transactions simultaneously? Of course one time transaction could fail.

Consensus takes time. Who says Bitcoin is efficient in that area? You want something fast? Use cash. You get your confirmation as soon as the cash is in your hands.

[Vivace92]

well it turns out there are many confirmation bitcoin transaction, what their impact with up to 50.000 confirmations? I don't know, because when I received the bitcoin then it takes about 1 hour can I use.

[pooya87]

This is one of weakness bitcoin, confirmation very much and varied. I think it should be addressed as will be a waste of resources. What the function of the confirmation very much? I am sure there is no benefits, because if you already send fact can not be canceled.

Prevent the double spend, reaching your legality because every transaction has got validated by miner. You must read more about that.   

And non technical guys should make sure that they ask the senders to send at least 0.001 fees each transaction and while paying doing the same ourself. Also I am quite worried that the number of unconfirmed transaction are just increasing day by day .. hope gets sorted soon.

it does not go up consistently because it is mostly fake and you can not keep the fake spam attack up forever. right now it is about 10K which is 1/5 of when it was started. and it has always been like this, they spam attack the network then the number grows then people panic and start double spending and also paying so much higher fees and it fades away in a couple of days.

[streazight]

It was 57k unconfirmed transactions about 15 mins back and I thought it was getting better since everyone is posting about it being over 70k. Now, it is going back up. Crossed 60k unconfirmed transactions. Ive been waiting for about 18 hrs for my transaction to get confirmed. Hoping that happens in a couple of hours. It really sucks that it is taking soo long. Hopefully this will pass soon.

Usually if people pay 0.0005 BTC fees then it confirms within the next 3 three blocks, but I wonder that if everyone starts paying 0.0005 then even that would be less and maybe 0.005 would be new standard. Really not sure why this is happening and I hope this is temporary.

[richardsNY]

It was 57k unconfirmed transactions about 15 mins back and I thought it was getting better since everyone is posting about it being over 70k. Now, it is going back up. Crossed 60k unconfirmed transactions. Ive been waiting for about 18 hrs for my transaction to get confirmed. Hoping that happens in a couple of hours. It really sucks that it is taking soo long. Hopefully this will pass soon.

Usually if people pay 0.0005 BTC fees then it confirms within the next 3 three blocks, but I wonder that if everyone starts paying 0.0005 then even that would be less and maybe 0.005 would be new standard. Really not sure why this is happening and I hope this is temporary.

It's just some sort of a spam attack against the network, which isn't anything new since it happens once in a while. And yes, it's just temporary since it would be too costly for the entity behind this attack to continue doing this for weeks in a row. Sad thing is that they don't care about Bitcoin as the only people suffering right now are the users itself, and not the people they really want to target. Good thing is that the mempool seems to be going back to pre spam attack levels.

[Kevin77]

We would all love for the network to process thousands of transactions per second without any trade-offs, but at present, that is not possible. Simply increasing blocksize creates a problem known as "cost externalizing".

Exactly ! I hope though that the miners increase in numbers because that is the only solution I see to these slow confirmations. And I personally start using dogecoins and other alt coins when these sort of things happen in life. And once it solves I can change the alts to btc at minimal fees.