Bitcoin Forum
January 21, 2018, 01:51:45 AM *
News: Electrum users must upgrade to 3.0.5 if they haven't already. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: What is the logic of working at blockonomics.co?  (Read 266 times)
Deep BTC
Member
**
Offline Offline

Activity: 101


View Profile
February 28, 2017, 07:49:17 PM
 #1

Does anyone know how this site works? You enter the bitcoin address or TX ID value. The site provides information about the approval status of the transfer process. For example, it gives information about how much time has passed through the process and how long the process will be approved as an estimate.

How to find estimate how long a transaction will be approved? How does the site calculate this?

https://www.blockonomics.co
1516499505
Hero Member
*
Offline Offline

Posts: 1516499505

View Profile Personal Message (Offline)

Ignore
1516499505
Reply with quote  #2

1516499505
Report to moderator
1516499505
Hero Member
*
Offline Offline

Posts: 1516499505

View Profile Personal Message (Offline)

Ignore
1516499505
Reply with quote  #2

1516499505
Report to moderator
1516499505
Hero Member
*
Offline Offline

Posts: 1516499505

View Profile Personal Message (Offline)

Ignore
1516499505
Reply with quote  #2

1516499505
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1516499505
Hero Member
*
Offline Offline

Posts: 1516499505

View Profile Personal Message (Offline)

Ignore
1516499505
Reply with quote  #2

1516499505
Report to moderator
1516499505
Hero Member
*
Offline Offline

Posts: 1516499505

View Profile Personal Message (Offline)

Ignore
1516499505
Reply with quote  #2

1516499505
Report to moderator
bitcoin revo
Legendary
*
Offline Offline

Activity: 1025



View Profile
February 28, 2017, 09:38:50 PM
 #2

How to find estimate how long a transaction will be approved? How does the site calculate this?

I'm guessing that the site takes the number of unconfirmed transactions, hashing power of the collective miners, the fee of the transaction, plus a few other factors, and plugs them all into a rough equation.

Cool tool. It's currently estimating one of my unconfirmed transactions to be ~3d left until confirmation, which sounds about right with the delays going on currently.

BitcoinTalk discussion quality summed up in one thread: https://bitcointalk.org/index.php?topic=2576723.0 | Looking to rent out my signature to advertise for a solid company. Contact info in my profile.
squatz1
Hero Member
*****
Offline Offline

Activity: 560


View Profile
March 01, 2017, 12:26:40 PM
 #3

Transaction approval process is with my best educated guess is going to be on the amount of time that the transaction takes to receive a specified number of confirmations on the bitcoin network, most usually this number is set to one confirmation and that could take a good amount of time depending on the fee paid for by the buyer.

The estimate is simply what it is, an estimate and that is all they can really say about it, they're just going to be waiting on that one confirmation to be able to accept the transaction. Could you send your TX in order for us to see if it's been confirmed and resolved, by this amount of time waited it really should be.

       ▀
   ▄▄▄   ▄▀
   ███ ▄▄▄▄  ██
       ████
    ▄  ▀▀▀▀
▄▄
      ██    ▀▀
██▄█▄▄▄████████
▄▄▄▄▄▄▄▄▀▀███▀▀▀
██████████████████
████▄▀▄▀▄▀███▀▀▀▀▀
████▄▀▄▀▄▀███ ▀
████▄▀▄▀▄▀████████
▀█████████████████
]
CoinPayments
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
amacar2
Legendary
*
Offline Offline

Activity: 938


★Jetwin.com★


View Profile
March 01, 2017, 12:35:09 PM
 #4

How to find estimate how long a transaction will be approved? How does the site calculate this?

https://www.blockonomics.co
I think they use api from https://bitcoinfees.21.co/api
to estimate waiting time to get confirmation.

https://bitcoinfees.21.co/ estimate how long a transaction will be in mempool (unconfirmed) using average time transaction with similar type of fee had waited in real time. How much a transaction have to wait to get confirmation depends solely upon fee per byte of the transaction.


▄▄▄████████▄▄▄
▄▄███▀▀▀ ▄  ▄ ▀▀▀███▄▄
▄██▀▀ ▄▄████  ████▄▄ ▀▀██▄
▄██▀ ▄███████    ███████▄ ▀██▄
██▀ ▄████████▀    ▀████████▄ ▀██
██▀ ██████████      ██████████ ▀██
██▀ ██████████        ██████████ ▀██
▄██                                ██▄
██ ▄                              ▄ ██
██ ███▄                        ▄███ ██
██ ██████▄                  ▄██████ ██
██ ▀████████              ████████▀ ██
▀██ ███████                ███████ ██▀
██▄ █████▀                ▀█████ ▄██
██▄ ████        ▄▄        ████ ▄██
██▄ ▀█      ▄▄████▄▄      █▀ ▄██
██▄    ▄▄██████████▄▄    ▄██▀
▀██▄▄ ▀▀██████████▀▀ ▄▄██▀
▀▀███▄▄▄ ▀▀▀▀ ▄▄▄███▀▀
▀▀▀████████▀▀▀
 

    [    ]
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!