Help... why is my bitcoin transaction from blockchain taking over 24 hours?

[c0in3r]

Hello,

I have been using bitcoin for a couple of years on and off now and at first the experience was always quick and rapid, but lately it's really gone bad, my last tranaction took around 12 hours to complete and my current one is still waiting to confirm and it's been almost 20 hours now, how is this the future of money if it's so slow?

Is it my bitcoin wallet software that is outdated? I'm using MultiBit 0.5.18 which is an old version.

Please help me, recommend me a fast wallet, i can't deal with this slowness. whats going on?

[NeuroticFish]

Hi,

With the tiny information you gave I can tell that:
* The network is very busy. The mempool (not yet processed transactions) is 37 MB instead of the usual / nice 2-8 MB.
* There's a high chance the tx fee you paid is small, much smaller than the currently recommended 100 satoshi / byte.

I recommend Electrum, where I know for sure that you can adjust the fee by hand before sending.

Edit: if you send the tx ID I can see how small your fee was. I look here to see how busy the network is and what fee I should use.
Edit2: another recommended wallet is the Bitcoin QT, where afaik you can have all the control you need (even re-send the transaction with higher fee), but I don't use that one.

[c0in3r]

Hi,

With the tiny information you gave I can tell that:
* The network is very busy. The mempool (not yet processed transactions) is 37 MB instead of the usual / nice 2-8 MB.
* There's a high chance the tx fee you paid is small, much smaller than the currently recommended 100 satoshi / byte.

I recommend Electrum, where I know for sure that you can adjust the fee by hand before sending.

Edit: if you send the tx ID I can see how small your fee was. I look here to see how busy the network is and what fee I should use.
Edit2: another recommended wallet is the Bitcoin QT, where afaik you can have all the control you need (even re-send the transaction with higher fee), but I don't use that one.

Thanks for the tips, okey i realize the "fee" when doing a transaction is something i've always ignored, and it's not an option to set it in the bitcoin wallet i use, which makes me believe perhaps it wasn't a thing when i started using bitcoin 3 years ago? It appears the fee for this transaction was 0.0001 btc or 0.09$ i don't know if that's 100 satoshis or not but i guess i'm below the limit to get prioritized.

So from what i understand the transcation rates are slower these days because more transactions are occuring? That means more people are using bitcoin?

I'll look into moving my stuff into another bitcoin client for now, thanks

[vnvizow]

Hi,

With the tiny information you gave I can tell that:
* The network is very busy. The mempool (not yet processed transactions) is 37 MB instead of the usual / nice 2-8 MB.
* There's a high chance the tx fee you paid is small, much smaller than the currently recommended 100 satoshi / byte.

I recommend Electrum, where I know for sure that you can adjust the fee by hand before sending.

Edit: if you send the tx ID I can see how small your fee was. I look here to see how busy the network is and what fee I should use.
Edit2: another recommended wallet is the Bitcoin QT, where afaik you can have all the control you need (even re-send the transaction with higher fee), but I don't use that one.

Thanks for the tips, okey i realize the "fee" when doing a transaction is something i've always ignored, and it's not an option to set it in the bitcoin wallet i use, which makes me believe perhaps it wasn't a thing when i started using bitcoin 3 years ago? It appears the fee for this transaction was 0.0001 btc or 0.09$ i don't know if that's 100 satoshis or not but i guess i'm below the limit to get prioritized.

So from what i understand the transcation rates are slower these days because more transactions are occuring? That means more people are using bitcoin?

I'll look into moving my stuff into another bitcoin client for now, thanks

Transactions are still happening at a normal rate but many pools now prioritize which blocks to mine to maximize resources. At current rates each block carries along ~9000 btc in mining fees alone so the block reward itself is minuscule. That's why a higher mining fee usually equal to a faster transaction, I waited for 3 days on a payment once cause the other guy included tiny fees.

[RealBitcoin]

Hello,

I have been using bitcoin for a couple of years on and off now and at first the experience was always quick and rapid, but lately it's really gone bad, my last tranaction took around 12 hours to complete and my current one is still waiting to confirm and it's been almost 20 hours now, how is this the future of money if it's so slow?

Is it my bitcoin wallet software that is outdated? I'm using MultiBit 0.5.18 which is an old version.

Please help me, recommend me a fast wallet, i can't deal with this slowness. whats going on?

• Either you sent a too small fee
• Or the network capacity limit is too small
• Or both

Looking at segwit, it doesnt looks like it will activate anytime soon.

And a 2mb hardfork is for some people unthiknable, so this is a big problem.

[paullinator]

Hi,

With the tiny information you gave I can tell that:
* The network is very busy. The mempool (not yet processed transactions) is 37 MB instead of the usual / nice 2-8 MB.
* There's a high chance the tx fee you paid is small, much smaller than the currently recommended 100 satoshi / byte.

I recommend Electrum, where I know for sure that you can adjust the fee by hand before sending.

Edit: if you send the tx ID I can see how small your fee was. I look here to see how busy the network is and what fee I should use.
Edit2: another recommended wallet is the Bitcoin QT, where afaik you can have all the control you need (even re-send the transaction with higher fee), but I don't use that one.

Thanks for the tips, okey i realize the "fee" when doing a transaction is something i've always ignored, and it's not an option to set it in the bitcoin wallet i use, which makes me believe perhaps it wasn't a thing when i started using bitcoin 3 years ago? It appears the fee for this transaction was 0.0001 btc or 0.09$ i don't know if that's 100 satoshis or not but i guess i'm below the limit to get prioritized.

So from what i understand the transcation rates are slower these days because more transactions are occuring? That means more people are using bitcoin?

I'll look into moving my stuff into another bitcoin client for now, thanks

0.0001 is really small for the current network conditions as we're typically seeing 0.0002 to 0.0003 for a small transaction. Give Airbitz a try as it very dynamically calculates fees based on the network condition as well as the size (in bytes) of your transaction and amount of your transaction. airbitz.co/app

[MFahad]

Hi,

With the tiny information you gave I can tell that:
* The network is very busy. The mempool (not yet processed transactions) is 37 MB instead of the usual / nice 2-8 MB.
* There's a high chance the tx fee you paid is small, much smaller than the currently recommended 100 satoshi / byte.

I recommend Electrum, where I know for sure that you can adjust the fee by hand before sending.

Edit: if you send the tx ID I can see how small your fee was. I look here to see how busy the network is and what fee I should use.
Edit2: another recommended wallet is the Bitcoin QT, where afaik you can have all the control you need (even re-send the transaction with higher fee), but I don't use that one.

Thanks for the tips, okey i realize the "fee" when doing a transaction is something i've always ignored, and it's not an option to set it in the bitcoin wallet i use, which makes me believe perhaps it wasn't a thing when i started using bitcoin 3 years ago? It appears the fee for this transaction was 0.0001 btc or 0.09$ i don't know if that's 100 satoshis or not but i guess i'm below the limit to get prioritized.

So from what i understand the transcation rates are slower these days because more transactions are occuring? That means more people are using bitcoin?

I'll look into moving my stuff into another bitcoin client for now, thanks

Transactions are still happening at a normal rate but many pools now prioritize which blocks to mine to maximize resources. At current rates each block carries along ~9000 btc in mining fees alone so the block reward itself is minuscule. That's why a higher mining fee usually equal to a faster transaction, I waited for 3 days on a payment once cause the other guy included tiny fees.

The payments are processed in blocks and if someone uses less transaction fee than normal, then its slows down confirmation process for everyone. I always put more transaction fee than normal to get it processed more quickly.  It has also something to do with Halving.

[mobnepal]

You can try using blockchain.info wallet which have fee recommendation so that you can be sure that your transaction will get confirmed in next block. You can adjust fee according to your need and if you like to calculate fee yourself this may be helpful for you https://bitcoinfees.21.co/

[youdamushi]

I'm a bit afraid though. There is no reason for the number of transactions to be reduced hence for the transaction fees to go down...
Problem is that it seems like the trend is clearly up.

Currently it costs at least 15 cents for a small transaction... what's next?
I'm not going to pay 1 dollar everytime i want to send money:/

[examplens]

~~snip

The payments are processed in blocks and if someone uses less transaction fee than normal, then its slows down confirmation process for everyone. I always put more transaction fee than normal to get it processed more quickly.  It has also something to do with Halving.

So you want to say, that couple people with the lowest fee can slow down transactions and confirmation for all other, regardless of who pays recommendation fee (he knows to be high)
I am not sure for that. correct me if I'm wrong
regards

[Qartersa]

Generally speaking the problem lies with the blockchain as it is super busy because of the number of transactions that got stuck because of that number of transactions. This happened before, I heard this was some kind of attack to discourage people from using bitcoins I can't confirm for sure.

[Kprawn]

We have Blockstream to thank for this. They deliberately avoided a update to the block sizes to force people to upgrade to SegWit. 

Nah, seriously .... someone are currently spamming the network with tx's in an attempt to force some change in the protocol. We would

never know who is behind this, but someone are definitely trying to make a point.  { In the process, people are getting fed up with

the delays and abandoning Bitcoin }

[NUFCrichard]

• Either you sent a too small fee
• Or the network capacity limit is too small
• Or both

Yep, Bitcoin is getting more expensive to spend.
Bitcoin is running also at full capacity and can't keep pace with transactions, even though the number of users is very small.

I sent a transaction recently that took 20h to go through, even though I left my old Electrum at the standard fee.

No need to change anything though!

[Catmony]

I mostly try to include 0.0002 fee atleast for every transaction this days and it usually get confirmed within hour (max) but it used to be only 0.0001BTC before so it seems after halving fee have sky rocketed and ongoing attack on network with dust transaction is another reason for increase in fee per transaction. However size of transaction is main factor for determining enough fee.

[kaijialex]

As others have mentioned, you need to increase the transaction fees to an amount that you would be sure that the miners will include your transaction in the next block to be mined.

How much fee you should pay changes every block, and an easy way to make sure that the fee is enough is to use a wallet that calculate this fee for you, I used Electrum in the past, and it did a great job at calculating the fees which made all of my transactions appear just in the next block.

Hope this helps.

[BitcoinPC]

You can try using blockchain.info wallet which have fee recommendation so that you can be sure that your transaction will get confirmed in next block. You can adjust fee according to your need and if you like to calculate fee yourself this may be helpful for you https://bitcoinfees.21.co/

I always used blockchain.info to get information about transaction fee and confirmations. On your recommendation
i just tried this site https://bitcoinfees.21.co/  but it always timeout. I wonder if its problem at my end ?

[mobnepal]

You can try using blockchain.info wallet which have fee recommendation so that you can be sure that your transaction will get confirmed in next block. You can adjust fee according to your need and if you like to calculate fee yourself this may be helpful for you https://bitcoinfees.21.co/

I always used blockchain.info to get information about transaction fee and confirmations. On your recommendation
i just tried this site https://bitcoinfees.21.co/  but it always timeout. I wonder if its problem at my end ?

No it is working on my side, i think you have slow internet. This site is not a wallet but just calculate the fees per byte of transaction size so that you can put enough fee depending upon your size of transaction.

This tool can also be helpful to estimate time for confirmation of any bitcoin transaction.

[shillfudder]

Here's what I do:

First, I check what fees are needed to confirm a transaction under an hour.
https://tradeblock.com/bitcoin/

It says here that roughly 30 satoshis per byte is needed to confirm quickly.

And then I go here. https://coinb.in/#newTransaction

I could tweak the fee according to the actual size of transaction. If you have many inputs, it will be more expensive. But a simple transfer with one input would be a lot cheaper. Try it out, test it.

[ibuddy122505]

It pretty strange though it is nothing wrong with the service or wallet you are using.This is causing couple of reason on the network to work really slow.If you will ensure that your transaction will take priority is to include exceptionally high custom transaction fee.In the case i will advice you to increase that manually and make it enough so that it will get confirmed in 1 block.

[Mr.grin]

Well, I was less experienced using desktop wallet. but, I think there might be something strange if within 24 hours, the transaction has not been confirmed. maybe you can contact the admin of the wallet when the wallet provides ticketing services for the consumer, or may be there is some improvement, so maybe a little longer transaction.