65214 Unconfirmed Transactions

[cpfreeplz]

There are currently 65214 Unconfirmed Transactions on the Bitcoin network at time of posting.

What does that imply? Is this good? I have a transaction of 0.01 BTC that has been stuck for almost 24 hours despite a fee of $0.13. What has to change?

Your post means absolutely nothing. What the hell is $0.13 in terms of a fee? How many Satoshis per byte was the fee? If you had 100 inputs you'll be waiting a long time whereas if you had 1 or 2 you'll see a way faster transaction. Your fee based on the number of bitcoins means nothing. 1 input of 1000BTC will cost the exact same to send as 1 input of 0.01BTC. Next time look at the dynamic fee and choose accordingly.

[-ck]

Just enlighten me please, isn't confirming the transactions called mining? also if you find a block you'll get the fees and if you run a node with desktop computer you are technically mining but will never find a block and never receive any thing whatsoever.
It's the pools that should run as many full nodes as they can but are they?

One thing we should let people know, you can mine with 5m rigs and link them just to 1 node or you can have 5m rigs and link each one to a node to have 5m nodes, but if you want to find a block faster than others it's better if you do everything with that one node.

But the network problem is way over that, and it's about the limitations in the source code itself, so if you run 10m full nodes you'll be limited to find a block every 10 minutes and in each block only a limited number of transactions can fit.

Confirming the transactions is indeed done by mining (and mining only) but running a node on your computer - or any computer - is not mining. That stopped being possible 5 years ago... Mining bitcoin is done with dedicated ASIC mining hardware only and most hardware is directing its power towards pools that construct work for them that then submit blocks. The pools only need one node to submit the block, running more nodes does nothing for them (except perhaps create more places to distribute the block from.) You misunderstand a lot of what's going on.

[wavespump]

Spammers gonna spam

It is said that not the spam issue, the blockchain is staganant due to small block size, enlarge it to 2MB is important and will be improved soon, if miners don't accept to do this, bitcoin network will be crowd like this in the futre, it is negative to bitcoin adoption.

[Meuh6879]

https://blockchain.info/unconfirmed-transactions



not so high ...



https://tradeblock.com/bitcoin/

http://statoshi.info/dashboard/db/memory-pool?from=1485562273433&to=1486167073433

[Meuh6879]

it is negative to bitcoin adoption.

no, it's a positive way to force the NODES to upgrade ... because they don't understand why her transaction is stuck.

because when the cash will be STOPPED.

[neochiny]

There are currently 65214 Unconfirmed Transactions on the Bitcoin network at time of posting.

What does that imply? Is this good? I have a transaction of 0.01 BTC that has been stuck for almost 24 hours despite a high fee. Do we have too many unconfirmed transactions on the network?

Hmm. I had to do a transaction yesterday and was shocked when I checked bitcoinfees21 for the suggested fees.
It was @160 per byte and the unconfirmed transactions was just under 70k. Thing is, it wasn't a problem.

I just aimed for fee with the lowest 'pending'. Incidentally, it was at 140-160 range.
My transaction's got 1 input and 1 output and so I only paid 30k sat.  The size turned out to be 190bytes so I got within the 140-160 range I was aiming for.(157bytes)

Got 1 confirmation within 2 minutes, 3 confirmations in 10-15 minutes.

For now, it was just a matter of adding 10k to my usual 16 - 20k fees. I do hope it doesn't double/triple in future, especially for times when I got a lot of inputs.

[aarturka]

Yep m*rons get up your a*ses and run a BU node so they can take over with less hostile approach!!! there are now only 50k unconfirmed transactions, I had one my self and it only took less than an hour and got first confirmation soon after I used viabtc accelerator.

[shamzblueworld]

I am using multibit wallet and for more than 24 hours all my btc there has gone to unconfirmed, is it a wallet issue or related to this ongoing phenomenon?
Are we to expect the solution any time soon?

[Pursuer]

it can have a couple of causes:
1) the spammers that are spamming the network with their large number of transactions
2) because of price rise more people are moving bitcoin around either to sell on exchanges or from exchanges out to their cold storages. and that always creates a large number of transactions.

and the solution is as it always have been to solve the block size issue.

[C0RE]

It is a very bad approach to sit back and do nothing.  So get off your ass and do something.  At least go start a BU node.  It is not that hard.  Can anyone give a link to simplified instructions how to set up a BU node for the morons?

Several hackers who are acquaintances of mine, said me that they want decentralisation and hack every one who starts BU node and take away all bitcoins from them, that's very easy because BU has many flaws and bugs.
I can't say for sure but appears that they were not joking

[Yakamoto]

It is a very bad approach to sit back and do nothing.  So get off your ass and do something.  At least go start a BU node.  It is not that hard.  Can anyone give a link to simplified instructions how to set up a BU node for the morons?

Several hackers who are acquaintances of mine, said me that they want decentralisation and hack every one who starts BU node and take away all bitcoins from them, that's very easy because BU has many flaws and bugs.
I can't say for sure but appears that they were not joking

While possible, and I won't disagree because I don't know the platform and your friend is likely more knowledgeable with the various flaws and exploits that exist for a system like that, I find it surprising he's so confident that the node system for BU is that weak. I would expect for them to have something at least on par with the system we have going right now, but what do I know.

[Mr.grin]

lately always happens Unconfirmed Transactions of the blockchain. This would be very bad if this kind of thing always happens. maybe this can reduce people's interest in bitcoin. because bitcoin is very popular with the transaction so quickly. I hope this can be overcome.

[Amph]

Don't think I've ever seen this many unconfirmed transactions before (I do have an awful memory though, long story).
This must be another spam attack to have over 60,000 unconfirmed transactions though, no?

No.  In case you've been living under a rock, it is not due to spam but rather due to Blockstream intentionally crippling the system so there will be a need for their 'solution'.  It is nothing less than a hostile takeover of the protocol.

It is a very bad approach to sit back and do nothing.  So get off your ass and do something.  At least go start a BU node.  It is not that hard.  Can anyone give a link to simplified instructions how to set up a BU node for the morons?

If this is not due to increase in adoption, then we have still plenty of room to scale, if this is just someone that intentionally want the block to be higher when it's not the time yet, then just leave he doing it until he run out of money

the block should be increase only if it is geniunly needed, and since there is no proof of that, and you can't say this just by looking at the price increase, it result in fud to me

[lottery248]

i guess some of the transaction is based on the money laundering - they will not be revealed with such a large amount of transactions. state me if i have anything wrong.

[instacalm]

At time of posting now it is only at about ~18k, ~15k even. It appears to be fluctuating and peaking at 50-70k of total unconfirmed transactions. The transaction of mine that had been stuck has now been confirmed, after a day. I'll make sure to send with even higher fees in the future.

[Red-Apple]

At time of posting now it is only at about ~18k, ~15k even. It appears to be fluctuating and peaking at 50-70k of total unconfirmed transactions. The transaction of mine that had been stuck has now been confirmed, after a day. I'll make sure to send with even higher fees in the future.

you shouldn't just pay higher fees. instead you should check and make sure how much is high enough. it means visiting a website such as 21.co in order to figure out how much satoshi per byte you should pay.

in the future that you want to spend something, it is possible that the number has finally stopped going up and started at normal levels and you no longer needed to pay high amounts.

[hajimasan]

its not uncommon fact now. we all know that after July halving many manner had switched their system from mining bitcoin to mining other profitable coins and-and a fact is because of very less bit and high difficulty in bitcoin. since July halving price of bitcoin is almost at the same range may be since-since 1 month It had reached $900 but that doesn't make sense now because once dinner have given u mining bitcoin they would not switch to bitcoin back.

[paul gatt]

There are currently 65214 Unconfirmed Transactions on the Bitcoin network at time of posting.

What does that imply? Is this good? I have a transaction of 0.01 BTC that has been stuck for almost 24 hours despite a high fee. Do we have too many unconfirmed transactions on the network?

terrible, someone to stop it in any way
market stalled, much work can not be completed
why this happens repeatedly? I do not understand the reason for it

[DeathAngel]

At time of posting now it is only at about ~18k, ~15k even. It appears to be fluctuating and peaking at 50-70k of total unconfirmed transactions. The transaction of mine that had been stuck has now been confirmed, after a day. I'll make sure to send with even higher fees in the future.

Yeah it's not worth sending a transaction with the standard fee at this time. At times like this you have to send with a slightly higher fee to avoid the uncertainty & anxiety that an unconfirmed transaction brings. 

[Cred]

What are the transactions that people are sending through bitcoin?

Why are they paying large fees and not holding off or using another channel? Why do they have to go through bitcoin if they aren't to do with bitcoin speculation?

Do people sending BTC transactions even know that they are going into a clogged up queue?