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Author Topic: Why is the Bitcoin issue where transactions take longer than 1 hour STILL exist?  (Read 377 times)
ProfessionalGoogler
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January 30, 2017, 11:19:20 AM
 #1

This reminds me of companies or really any utility that does not keep up with the times.

Can we have instant transactions already?

I guess not.. some promising future that is..  Roll Eyes

Happened to me for the 2nd time today!!!  Angry
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January 30, 2017, 12:11:33 PM
 #2

The transaction become bigger, that's why you need to adapt with the situation, which means try to calculate the priority of you transaction: https://en.bitcoin.it/wiki/Transaction_fees
Add more satoshi for pay fees you can use this to predict the transaction: https://bitcoinfees.21.co

Don't too mad, with WU you need wait for a days and pay more fees than amount you want to transfer.
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January 30, 2017, 12:15:08 PM
 #3

The transaction input and size is getting bigger, the block difficulty is getting higher and so the recommended fees will have to get higher too, I guess. Unless you want your transaction to be immediately confirmed you can pay low fees, but for example my 0.0001BTC fee for a 0.02BTC transaction got confirmed in about 36 hours (1,5 days).
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January 30, 2017, 12:25:30 PM
 #4

The transaction become bigger, that's why you need to adapt with the situation, which means try to calculate the priority of you transaction: https://en.bitcoin.it/wiki/Transaction_fees
Add more satoshi for pay fees you can use this to predict the transaction: https://bitcoinfees.21.co

Don't too mad, with WU you need wait for a days and pay more fees than amount you want to transfer.

I'll see if blockchain.info allows this, I have looked before but maybe not hard enough or I'm blind..  Tongue
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January 30, 2017, 01:01:05 PM
 #5

This reminds me of companies or really any utility that does not keep up with the times.

Can we have instant transactions already?

I guess not.. some promising future that is..  Roll Eyes

Happened to me for the 2nd time today!!!  Angry

i think instant transaction not yet implemented and many people have get trouble with their transaction. this is the big problem for blockchain and i am sure that in future, blockchain will be fast and we can see our transaction is instantly completed but we need a times before we can see this.

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January 30, 2017, 01:09:01 PM
 #6

The transaction become bigger, that's why you need to adapt with the situation, which means try to calculate the priority of you transaction: https://en.bitcoin.it/wiki/Transaction_fees
Add more satoshi for pay fees you can use this to predict the transaction: https://bitcoinfees.21.co

Don't too mad, with WU you need wait for a days and pay more fees than amount you want to transfer.

I'll see if blockchain.info allows this, I have looked before but maybe not hard enough or I'm blind..  Tongue

you put any fee you want if you select "custom fee" when you send a transaction, also you can add more outputs(if I understood your doubt)

they also recommend a minimum fee, but I'm not sure you they calculate the minimum, that can be highly overestimated if your address have many transactions



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mocacinno
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January 30, 2017, 01:09:49 PM
 #7

This reminds me of companies or really any utility that does not keep up with the times.

Can we have instant transactions already?

I guess not.. some promising future that is..  Roll Eyes

Happened to me for the 2nd time today!!!  Angry

i think instant transaction not yet implemented and many people have get trouble with their transaction. this is the big problem for blockchain and i am sure that in future, blockchain will be fast and we can see our transaction is instantly completed but we need a times before we can see this.

Transactions are almost instant. As soon as you broadcast a transaction, it'll only take a couple of seconds before it's in the complete network's mempool.

However, depending on how much satoshi's per byte of transaction you added, you might have to wait a long time before a miner decides to put your unconfirmed transaction into a block (depending on the age of the transaction or the size of the nodes mempool, you might get dropped from the mempool of most nodes before you're added to a block in case you added really low fees).
Getting your tx in a block (1 confirmation) might be pretty fast, but it'll almost never be instant, since only 1 block gets added to the blockchain every 10 minutes (on average).

The lightning network is being developed for "instant" transactions.
http://coinjournal.net/a-simple-explanation-of-the-lightning-network/

ashiqdey
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January 30, 2017, 01:14:50 PM
 #8

There could be more then 1 reson for this. According to me the problem might be due to-
More demand due to more user and transaction per minute is much more than previous so there might be less minner as required

After july 2016 halving price of bitcoin had not seen much high on rate but reward had came down to 50% of previous so many minners had sold there system or switched to other coin. So due to less minner and mute user and request per minute the problem exists today.
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January 30, 2017, 01:21:42 PM
 #9

This reminds me of companies or really any utility that does not keep up with the times.

So what are those companies that reminds you when a transaction of yours takes a longer time before confirming?

Can we have instant transactions already?

I guess not.. some promising future that is..  Roll Eyes

Yes we can, it do happens as long you are going to include miners fee.

Happened to me for the 2nd time today!!!  Angry

Just chill man this is a good indication that many people are transacting today which makes the demand increasing.



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