69,000 (69K) Unconfirmed Transactions! ....WTF...???

[bamboylee]

69K unconfirmed transactions is nothing special anymore. There are nodes that have had over 100K of unconfirmed transactions in their mempool. Lauda is spot on regarding the heavy spam attack on the network. It's utterly annoying that an entity gains so much pleasure out of choking the network with rubbish transactions. Look at the generated block fees today http://blockr.io/block/list/ it's party time for pools.

That spam can be viewed as a network test. How effecient bitcoin network can be if it get mainstream and have that much of valid transactions? Currently, as we can see, it is not performing well. We need segwit badly, unfortunately, miners are not so keen on adopting it.

[shinratensei_]

Die waiting for segwit or use Dash instant transactions, top 3 at coinmarket now:

https://coinmarketcap.com

LOL this guy is misguided.

[Quote author = DomainMagnate link = topic = 1813712.msg18067441 # msg18067441 date = 1488665159]

That is stupidity.Who is behind All These? I guess the only one benefitting with this is miners.There is no reason otherwise for a non-miners to do this.
[/ Quote]
https://blockchain.info/charts/transaction-fees

We are on the bullish chart of the total transaction fees on the blockchain. No doubt the miner gets a lot.

[n0ne]

This might be a temporary problem which will soon gets sorted. From the last year end onwards when price increases gradually the unconfirmed transactions too have increased much. Later when stability is experienced gradually faster confirmation takes place.

[jonald_fyookball]

This might be a temporary problem which will soon gets sorted. From the last year end onwards when price increases gradually the unconfirmed transactions too have increased much. Later when stability is experienced gradually faster confirmation takes place.

If you mean temporary because eventually we'll have a scaling solution implemented, I agree.

If you mean because it will just go away on its own, I don't.

[Wind_FURY]

Die waiting for segwit or use Dash instant transactions, top 3 at coinmarket now:

https://coinmarketcap.com

Stop promoting the shitcoin everywhere. It is a clear pyramid scheme that is dying.

You cannot blame him. It is in a bubble that is ready to pop anytime. He is desperate for greater fools to enter the fray so he could sell his bags to them. This is nothing new in the forum.

[jonald_fyookball]

Die waiting for segwit or use Dash instant transactions, top 3 at coinmarket now:

https://coinmarketcap.com

Stop promoting the shitcoin everywhere. It is a clear pyramid scheme that is dying.

You cannot blame him. It is in a bubble that is ready to pop anytime. He is desperate for greater fools to enter the fray so he could sell his bags to them. This is nothing new in the forum.

I happen to be both a bitcoin investor and also someone that actually uses Bitcoin (to pay employees via remittances).

This past week was the first time one of my employees actually complained to me about the payment because it
took them 2 days to get their bitcoins through their bank processor to their bank.  

If this network congestion isn't solved soon AND I find myself able to use an alternative cryptocurrency (assuming its cheaper than paypal),
why wouldn't I do so?  Hint: I will.

And if that happens, I would seriously consider liquidating a large portion of my bitcoin investment as
well, based on the conclusion that Bitcoin's utility has been damaged while at the same time other
competitors offer more value.

Food for thought.

[RoommateAgreement]

And if that happens, I would seriously consider liquidating a large portion of my bitcoin investment as
well, based on the conclusion that Bitcoin's utility has been damaged while at the same time other
competitors offer more value.

this will soon happen to all of us.
i used to think the spam attackers are doing it for political reasons to force some fix for the block size but now i think it is people who are out there to harm bitcoin because at this point this is what they are doing.

[Bit_Happy]

...
It was on the front page...

Being such an urgent topic, it is good to see so much attention.

I happen to be both a bitcoin investor and also someone that actually uses Bitcoin (to pay employees via remittances).

This past week was the first time one of my employees actually complained to me about the payment because it
took them 2 days to get their bitcoins through their bank processor to their bank. 

If this network congestion isn't solved soon AND I find myself able to use an alternative cryptocurrency (assuming its cheaper than paypal),
why wouldn't I do so?  Hint: I will.

And if that happens, I would seriously consider liquidating a large portion of my bitcoin investment as
well, based on the conclusion that Bitcoin's utility has been damaged while at the same time other
competitors offer more value.

Food for thought.

[Qunenin]

69K unconfirmed transactions is nothing special anymore. There are nodes that have had over 100K of unconfirmed transactions in their mempool. Lauda is spot on regarding the heavy spam attack on the network. It's utterly annoying that an entity gains so much pleasure out of choking the network with rubbish transactions. Look at the generated block fees today http://blockr.io/block/list/ it's party time for pools.

That spam can be viewed as a network test. How effecient bitcoin network can be if it get mainstream and have that much of valid transactions? Currently, as we can see, it is not performing well. We need segwit badly, unfortunately, miners are not so keen on adopting it.

Yes, the miners needs to come up with a solution. It will be no good if we keep on going like this as confirmation time is increasing day by day and tx fee are also high. Many altcoins have new technologies which give zero confirmation time. Guess we need to adopt such technologies.

[Holliday]

Being such an urgent topic, it is good to see so much attention.

Urgent?! This has been going on since late 2015. Did you just wake from a coma?

The only people giving it "so much attention" are the same five guys who never shut up along with the signature spammers who post incomprehensible dribble everywhere.

[Dream 1000 BTC]

In recent 1 month, more and more unconfirmed transactions are there, greedy miners refuse to signal SegWit because they want more mining fees, bitcoin will be killed by those greedy morons.

[Lauda]

If this network congestion isn't solved soon AND I find myself able to use an alternative cryptocurrency (assuming its cheaper than paypal),
why wouldn't I do so?  Hint: I will.

And if that happens, I would seriously consider liquidating a large portion of my bitcoin investment as
well, based on the conclusion that Bitcoin's utility has been damaged while at the same time other
competitors offer more value.

Nobody really cares if you leave or stay to be frank. You are part of the current problem as you're strongly advocating against a extremely tested solution (Segwit).

And if that happens, I would seriously consider liquidating a large portion of my bitcoin investment as
well, based on the conclusion that Bitcoin's utility has been damaged while at the same time other
competitors offer more value.

this will soon happen to all of us.
i used to think the spam attackers are doing it for political reasons to force some fix for the block size but now i think it is people who are out there to harm bitcoin because at this point this is what they are doing.

Bullshit. They can spam any other shitcoin in no time. Heck, it is much easier to spam some of them.

Being such an urgent topic, it is good to see so much attention.

Urgent?! This has been going on since late 2015. Did you just wake from a coma?

The recommended fee-rate recently jumped a lot. This was not evident in 2015 nor 2016. Up to Q4 2016 the recommended was always between 15-20 cents.

[Herbert2020]

how soon can we get things right?

i don't expect anything anytime soon. miners revenue has gone up 530% because of the combination of price rise and fee rise to 200% what it was before and they are loving the spam attack so far.

why would they want to change anything!

[jonald_fyookball]

If this network congestion isn't solved soon AND I find myself able to use an alternative cryptocurrency (assuming its cheaper than paypal),
why wouldn't I do so?  Hint: I will.

And if that happens, I would seriously consider liquidating a large portion of my bitcoin investment as
well, based on the conclusion that Bitcoin's utility has been damaged while at the same time other
competitors offer more value.

Nobody really cares if you leave or stay to be frank. 
 

Me personally, no.  Obviously there will be others who make the exact same logical conclusions and decisions.

Bitcoin's value comes from its utility and if that utility declines while competitors' rises, the results will be predictable.  But believe whatever you want.

[Lauda]

Me personally, no.  Obviously there will be others who make the exact same logical conclusions and decisions.

Bitcoin's value comes from its utility and if that utility declines while competitors' rises, the results will be predictable.  But believe whatever you want.

You sound like a copy of Ver. Standard PR talk, zero valuable knowledge or expertise in the relevant field (assumption). No surprise there.
The way forward is simple: Segwit now, HF and LN later.

[1Referee]

Yes, the miners needs to come up with a solution.

Solution is Segwit. Only thing that miners need to do is signalling support for Segwit.

It will be no good if we keep on going like this as confirmation time is increasing day by day and tx fee are also high.

Confirmations take long to come through because people don't add a network-situation-appropriate transaction fee.

Many altcoins have new technologies which give zero confirmation time. Guess we need to adopt such technologies.

Altcoins barely enjoy any real world usage, and thus don't suffer from the same annoyances as Bitcoin does. It's pointless to adapt their "technologies" as we first have Segwit, and then Lightning Network to focus on. With both implemented Bitcoin has set a massive step towards being more future proof.

[jonald_fyookball]

Me personally, no.  Obviously there will be others who make the exact same logical conclusions and decisions.

Bitcoin's value comes from its utility and if that utility declines while competitors' rises, the results will be predictable.  But believe whatever you want.

You sound like a copy of Ver. Standard PR talk, zero valuable knowledge or expertise in the relevant field (assumption). No surprise there.
The way forward is simple: Segwit now, HF and LN later.

...and you sound like a blockstream fanboy.  Obviously we won't change each other's opinions.

[Vaccinus]

This might be a temporary problem which will soon gets sorted. From the last year end onwards when price increases gradually the unconfirmed transactions too have increased much. Later when stability is experienced gradually faster confirmation takes place.

how it get sorted if they cannot reach any consensus? miners do not agree on segwit and dev do not agree on mienrs decision, and what about the merchants they don't care, what they are saying for this situation?

[Mario274]

I also have to wait a long time before to confirm my transaction. This is very uncomfortable, I do not have time to promptly transfer the Bitcoins multiple times. I think that more people will use Bitcoin, the more will this problem arise

[Lauda]

...and you sound like a blockstream fanboy.  Obviously we won't change each other's opinions.

That's just bullshit as always. I have no affiliation with Blockstream and actually have conflicting views with some of their members.

miners do not agree on segwit and dev do not agree on mienrs decision, and what about the merchants they don't care, what they are saying for this situation?

The ones that have voiced their opinions are in support of Segwit, the other part of them are just neutral/silent.

I also have to wait a long time before to confirm my transaction. This is very uncomfortable, I do not have time to promptly transfer the Bitcoins multiple times.

Pay the required fee to get into the next block and it is most likely that you will.

I think that more people will use Bitcoin, the more will this problem arise

Correct. Ask your miners/pools to start signaling Segwit.