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Author Topic: What we can do to confirm transactions faster?  (Read 4764 times)
bohr
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February 25, 2017, 01:50:38 AM
 #21

As of today there is not much we can do, some solutions have been proposed and now we are waiting for the activation of segwit, the only thing to do now is to add a big transaction fee besides that, there is not much to do.
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February 25, 2017, 09:05:18 AM
 #22

Currently not all blocks are full, many are still empty or only partially full.

Can you clarify what you mean by "many" and "empty"?

There are rare occasions like this (454327) but it is not many.
The rest of the blocks which are the majority are full (>998).

Sorry for bumping this, but was this ignored or missed?

This is unacceptable...
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February 25, 2017, 10:11:01 AM
 #23

>Sorry for bumping this, but was this ignored or missed?

Missed ? No.

Indeed most of the blocks are full (>998), and the few smaller blocks are produced half-empty due to the Great Chinese Firewall, which blocks some Bitcoin transactions.
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February 25, 2017, 12:52:41 PM
 #24

And second, what is the goal of a spam attack? What is gained by the attacker?

My favourite conspiracy theory is that it's some miner(s) who flood the network with transactions, forcing legitimate users to increase their fees in their normal transactions.

This works because the miner can just collect his own fees back. (of course only on the blocks they mine)  It also explains the hold up on scaling solutions.  Scaling solutions break their scam.

No proof, just fun speculation.

This doesn't seem cost effective unless fees stay elevated way longer than the flooding attack lasts. There's no way to break even on it during the attack unless you mine every block, so the only way for it to make fiscal sense is if the fees stay elevated long enough after the stack for you to recoup your original cost, which is likely in the millions of dollars. Seems like a pretty big gamble.


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February 25, 2017, 01:05:48 PM
 #25

> Sorry for bumping this, but was this ignored or missed?

This is not Reddit

the few smaller blocks are produced half-empty due to the Great Chinese Firewall, which blocks some Bitcoin transactions.

HAHA thanks for the joke. Keep trying though.

Your post history shows your real filthy agenda towards bitcoin.

This is unacceptable...
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February 25, 2017, 01:11:03 PM
 #26

Sorry if I am misunderstanding here, but are confirmations not directly related to the fee that is attached to the transaction? And if that's the case, then we definitely need to increase the miners' fee in order for the network to run smooth as well as those transactions get confirmed in an hour or two. That's what I have been seeing after the price hike.

  
  
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February 25, 2017, 01:43:43 PM
 #27

>Sorry for bumping this, but was this ignored or missed?

Missed ? No.

Indeed most of the blocks are full (>998), and the few smaller blocks are produced half-empty due to the Great Chinese Firewall, which blocks some Bitcoin transactions.
No.

The transactions cannot be removed by anyone without affecting the merkle root of the transaction. If the merkle root is changed, the block header will be changed. If the block header is changed, the SHA256 hash of the block header is also changed and will thus result in the block not meeting the target.
Sorry if I am misunderstanding here, but are confirmations not directly related to the fee that is attached to the transaction?
The first confirmation is. The time it takes can be longer depending on the time taken to find a block and if the miner wants to include your transaction.

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February 25, 2017, 02:15:56 PM
 #28

Sorry if I am misunderstanding here, but are confirmations not directly related to the fee that is attached to the transaction?
The first confirmation is. The time it takes can be longer depending on the time taken to find a block and if the miner wants to include your transaction.

So, does it mean that miners' fee should be considered as one of the important factors here, right?
I have been told by my friend that if we use at least 0.0002 per KB for a transaction during these days, we will surely get it confirmed in the least time.

  
  
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February 25, 2017, 02:26:13 PM
 #29

The first confirmation is. The time it takes can be longer depending on the time taken to find a block and if the miner wants to include your transaction.

So, does it mean that miners' fee should be considered as one of the important factors here, right?
I have been told by my friend that if we use at least 0.0002 per KB for a transaction during these days, we will surely get it confirmed in the least time.
Miner's fee is the important factor. The confirmation will only happen if a miner mines a block so that is also important.
I have been told by my friend that if we use at least 0.0002 per KB for a transaction during these days, we will surely get it confirmed in the least time.
No, its more like 0.0015BTC/KB. The average fee really varies and it is better to use https://bitcoinfees.21.co/ to estimate your fees.

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February 25, 2017, 02:44:35 PM
 #30


My favourite conspiracy theory is that it's some miner(s) who flood the network with transactions, forcing legitimate users to increase their fees in their normal transactions.

This works because the miner can just collect his own fees back. (of course only on the blocks they mine)  It also explains the hold up on scaling solutions.  Scaling solutions break their scam.

No proof, just fun speculation.


It doesn't work because although he collects his own fees, he doesn't collect additional fees for the space that these transaction use. As fees only need to be marginally higher then others, the end result is always less income then when including real transactions.
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March 01, 2017, 03:09:45 PM
 #31

100k unconfirmed transactions and developers still not implemented segwit and lightning network.
Well if developers not implementing things we need for Bitcoin what can we do to confirm transations faster?

Should we run full node?
Full node helps other users to download blockchain and verify transactions but i never heard that it helps to confirm transactions faster

Should we run miner?

I am interested to run full node and miner but seems that more miners and full nodes won't help we need segwit and lightning network to be implemented faster and more nodes and miners won't help to confirm transactions faster?

i think you should go in run a miner(rig) because now a day bitcoin being a famous or more popular as long as it can let us earn by our own hand, the demand of it will be raise up and it means there will be more user, lot of user caused of more transactions so it makes bitcoin transaction slower as not having enough rig for block confirmation. I wish someday i can buy also a rig for bitcoin. Advance Congrats if you invest at bitcoin mining rig.
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March 01, 2017, 03:47:39 PM
 #32

Full nodes you need for to take back your unconfirmed bitcoins as I know. There exist one bitcoin transaction accelerator and that's viabtc.com/tools/txaccelerator <-- Lauda posted that website in one thread as he claimed it worked and also some people has tested it already here and they claim it works, I have used it once but can't say really if it really accelerates but try yourself two different transaction with same amount and fee.

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Aareon
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March 03, 2017, 02:28:24 AM
 #33

stable altcoin...

right...

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BuySomeBitcoins
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March 03, 2017, 03:14:29 AM
 #34

Full nodes you need for to take back your unconfirmed bitcoins as I know. There exist one bitcoin transaction accelerator and that's viabtc.com/tools/txaccelerator <-- Lauda posted that website in one thread as he claimed it worked and also some people has tested it already here and they claim it works, I have used it once but can't say really if it really accelerates but try yourself two different transaction with same amount and fee.

does work, but it is not a solution, and the service is not usefull now that half bitcoins use it.

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March 03, 2017, 02:35:08 PM
 #35

Same here, its so disappointing. I sent a bitcoin from a wallet, but still unconfirmed since February. What is the best possible solution to this? Is there a 3rd party site where it can pump or make the miners mine a specific unconfirmed block? Is this possible?

https://blockchain.info/address/3AoWPw5D6xYrDV8iSv4mP4fLsJfKZhaZGJ


BuySomeBitcoins
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March 03, 2017, 03:12:00 PM
 #36

Same here, its so disappointing. I sent a bitcoin from a wallet, but still unconfirmed since February. What is the best possible solution to this? Is there a 3rd party site where it can pump or make the miners mine a specific unconfirmed block? Is this possible?

https://blockchain.info/address/3AoWPw5D6xYrDV8iSv4mP4fLsJfKZhaZGJ




49.38 sat/B - man you need at least 100 sat/B

Try to use viabtc but it is freaking impossible to submit because half the population is using it.

btcdevil
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March 03, 2017, 04:12:54 PM
 #37

Same here, its so disappointing. I sent a bitcoin from a wallet, but still unconfirmed since February. What is the best possible solution to this? Is there a 3rd party site where it can pump or make the miners mine a specific unconfirmed block? Is this possible?

https://blockchain.info/address/3AoWPw5D6xYrDV8iSv4mP4fLsJfKZhaZGJ




49.38 sat/B - man you need at least 100 sat/B

Try to use viabtc but it is freaking impossible to submit because half the population is using it.

I have tried twice Viabtc link in the last 10 days and all my transaction got confirmed very soon, Viabtc is very usefull tool to get fast confirmation of transaction for even small fee transaction also. Try it.

bones261
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March 04, 2017, 06:36:19 AM
 #38

You can be a whale. You could put a fee of .01 BTC when moving around 1000 BTC and would likely get the transaction confirmed rather quickly. The .01 fee wouldn't bother you at all. It would be chump change. $13.00 to move $1.3 million, no biggie. Grin
If you must buy a cup of coffee with BTC. Try this one. http://www.most-expensive.coffee/

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matt11235
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March 04, 2017, 07:33:20 AM
 #39

the Great Chinese Firewall, which blocks some Bitcoin transactions.
Do you have a source for this? It seems strange that it would only block some transactions.
tazmania
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March 04, 2017, 07:48:53 PM
 #40

I think it will also depend on what wallet you are using as if you are using multibit then there is no option of adding extra fees and it will take a long time to confirm even a week as I have experienced the same thing in the past so now I am using electrum wallet where you can increase the fees according to your level of emergencies and it hardly takes 10 to 15 minutes for transactions to get confirmed.

                                                                               
                
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