Bitcoin Punishment => 8 Hour's To transfer coin from Blockchain...

[BitcSeo]

I wonder what is happening in bitcoin network. 8 hour's to transfer coin from blockchain   into localbitcoin wallet.

Currently, this is happening who knows what is going to happen within the next 3-5 year's.


Thanks

[mining1]

It's "digital gold", what do you expect ? Have faith in it, say your prayer, and maybe chinese cartel decides to agree on a development path. Or you can simply stop using it.

[mocacinno]

I wonder what is happening in bitcoin network. 8 hour's to transfer coin from blockchain   into localbitcoin wallet.

Currently, this is happening who knows what is going to happen within the next 3-5 year's.


Thanks

Do you want me to take a look at what went wrong, maybe help you try to avoid the same problem in the future, or did you just wanted to vent after waiting 8 hours for a confirmation? (which i totally understand).
If you want me to take a look at what went wrong, i'd need a tx id.

[BitcSeo]

It's "digital gold", what do you expect ? Have faith in it, say your prayer, and maybe chinese cartel decides to agree on a development path. Or you can simply stop using it.

Right now it has increase to 82 hour's. I know this may sound unbelieveable but, it the truth.

Can someone here explain to me what is happening?

Thanks

[mocacinno]

It's "digital gold", what do you expect ? Have faith in it, say your prayer, and maybe chinese cartel decides to agree on a development path. Or you can simply stop using it.

Right now it has increase to 82 hour's. I know this may sound unbelieveable but, it the truth.

Can someone here explain to me what is happening?

Thanks

If you post your txid, i'll have a look...

[BitcSeo]

It's "digital gold", what do you expect ? Have faith in it, say your prayer, and maybe chinese cartel decides to agree on a development path. Or you can simply stop using it.

Right now it has increase to 82 hour's. I know this may sound unbelieveable but, it the truth.

Can someone here explain to me what is happening?

Thanks

If you post your txid, i'll have a look...

ok, i will get back to you in few minutes

[BitcSeo]

It's "digital gold", what do you expect ? Have faith in it, say your prayer, and maybe chinese cartel decides to agree on a development path. Or you can simply stop using it.

Right now it has increase to 82 hour's. I know this may sound unbelieveable but, it the truth.

Can someone here explain to me what is happening?

Thanks

If you post your txid, i'll have a look...

ok, i will get back to you in few minutes

here is it : https://blockchain.info/tx/76e8ba354b6ad26a6af7124a0f3f66a66708865953db6634b4d018e279463301

[mocacinno]

here is it : https://blockchain.info/tx/76e8ba354b6ad26a6af7124a0f3f66a66708865953db6634b4d018e279463301

Here's a full analysis, as well as possible sollutions:
https://www.mocacinno.com/feecheck.php?txid=76e8ba354b6ad26a6af7124a0f3f66a66708865953db6634b4d018e279463301

Bottom line: the wallet you used added a fee of ~120 satosi's/byte, while at the time of writing, my wallet would recommand a fee of at least 180 satoshi's/byte if you want a 95% chance of getting a confirmation within 30 minutes. https://bitcoinfees.21.co/ even recommends 220 sat/byte. So, in hindsight, your wallet *should* have added twice the fee it used, but since it your wallet didn't use opt-in RBF to create the transaction, it's to late to change it now.

The good news is that 120 sat/byte is not so low that it's a hopeless situation... https://bitcoinfees.21.co/ estimates the average waiting time for this fee to be <~1440 minutes at the time of writing.
120 sat/byte will also allow you to use viabtc's txaccelerator (link to the tool can be found by following the link i posted at the top of this post)

[Nagadota]

here is it : https://blockchain.info/tx/76e8ba354b6ad26a6af7124a0f3f66a66708865953db6634b4d018e279463301

Here's a full analysis, as well as possible sollutions:
https://www.mocacinno.com/feecheck.php?txid=76e8ba354b6ad26a6af7124a0f3f66a66708865953db6634b4d018e279463301

Bottom line: the wallet you used added a fee of ~120 satosi's/byte, while at the time of writing, my wallet would recommand a fee of at least 180 satoshi's/byte if you want a 95% chance of getting a confirmation within 30 minutes.

The Blockchain wallet sets fees of 120 satoshi/byte by default.  Their "fee estimation" is just finding out what the transaction size will be and setting the fees to 120 satoshi per byte.

With the network having been very congested you're unlikely to get a transaction confirmed for a long time using Blockchain's terrible fee and timing estimation.  They have no idea how long your transaction will take to confirm, either.

Your best bet is to check the fees on bitcoinfees.21.co and try and set your fees relative to the 120 satoshi per byte set by the Blockchain wallet.

[BitcoinHodler]

This is more like "not educating yourself => punishment".
1. your fee is low. check out https://bitcoinfees.21.co/ or use a proper wallet that does proper fee suggestions. i suggest bitcoin core or electrum. i have checked them both and they give very good fee suggestions.

2. from 2017-04-28 09:48:25 (when you broadcast your tx) to 2017-04-28 12:30  (now)  is not 8 hours or 82 hours as in your second comment. although this is debatable.

3. learn about RBF and how to use it. again electrum offers pretty easy usage of it in case of this when your fee is not high enough.

4. use viabtc acceleration tool

5. also a good idea to take a look at this topic when you had more time: https://bitcointalk.org/index.php?topic=1802212.0

[alyssa85]

here is it : https://blockchain.info/tx/76e8ba354b6ad26a6af7124a0f3f66a66708865953db6634b4d018e279463301

It is to do with the age of your input - it was less than a day old.

Bitcoin prioritises according to age. 1btc should be able to be sent 1 day later, at the lowest fee. 0.1btc should be able to be sent 10 days later with the lowest fee. and so on.

If you are sending very young inputs, you need to raise your fee in order to get priority.

Tl:dr always spend your oldest coins and let the newer inputs age.

[BitcSeo]

here is it : https://blockchain.info/tx/76e8ba354b6ad26a6af7124a0f3f66a66708865953db6634b4d018e279463301

Here's a full analysis, as well as possible sollutions:
https://www.mocacinno.com/feecheck.php?txid=76e8ba354b6ad26a6af7124a0f3f66a66708865953db6634b4d018e279463301

Bottom line: the wallet you used added a fee of ~120 satosi's/byte, while at the time of writing, my wallet would recommand a fee of at least 180 satoshi's/byte if you want a 95% chance of getting a confirmation within 30 minutes. https://bitcoinfees.21.co/ even recommends 220 sat/byte. So, in hindsight, your wallet *should* have added twice the fee it used, but since it your wallet didn't use opt-in RBF to create the transaction, it's to late to change it now.

The good news is that 120 sat/byte is not so low that it's a hopeless situation... https://bitcoinfees.21.co/ estimates the average waiting time for this fee to be <~1440 minutes at the time of writing.
120 sat/byte will also allow you to use viabtc's txaccelerator (link to the tool can be found by following the link i posted at the top of this post)

OK, thank you. i have always use the default fee suggestion when sending bitcoin and in most cases it used to arrive in time.

[mocacinno]

here is it : https://blockchain.info/tx/76e8ba354b6ad26a6af7124a0f3f66a66708865953db6634b4d018e279463301

It is to do with the age of your input - it was less than a day old.

Bitcoin prioritises according to age. 1btc should be able to be sent 1 day later, at the lowest fee. 0.1btc should be able to be sent 10 days later with the lowest fee. and so on.

If you are sending very young inputs, you need to raise your fee in order to get priority.

Tl:dr always spend your oldest coins and let the newer inputs age.

This was true in the past, but nowadays, only very few miners still reserve space in their blocks for high priority transactions.

[unamis76]

I wonder what is happening in bitcoin network.

Nothing. What's happening is lack of scaling. Workarounds are above...

[Kprawn]

here is it : https://blockchain.info/tx/76e8ba354b6ad26a6af7124a0f3f66a66708865953db6634b4d018e279463301

Here's a full analysis, as well as possible sollutions:
https://www.mocacinno.com/feecheck.php?txid=76e8ba354b6ad26a6af7124a0f3f66a66708865953db6634b4d018e279463301

Bottom line: the wallet you used added a fee of ~120 satosi's/byte, while at the time of writing, my wallet would recommand a fee of at least 180 satoshi's/byte if you want a 95% chance of getting a confirmation within 30 minutes. https://bitcoinfees.21.co/ even recommends 220 sat/byte. So, in hindsight, your wallet *should* have added twice the fee it used, but since it your wallet didn't use opt-in RBF to create the transaction, it's to late to change it now.

The good news is that 120 sat/byte is not so low that it's a hopeless situation... https://bitcoinfees.21.co/ estimates the average waiting time for this fee to be <~1440 minutes at the time of writing.
120 sat/byte will also allow you to use viabtc's txaccelerator (link to the tool can be found by following the link i posted at the top of this post)

OK, thank you. i have always use the default fee suggestion when sending bitcoin and in most cases it used to arrive in time.

Would you care sharing the information on what wallet service you used, so that we can collectively try to address this? Some of these wallet

services do not have the option to "configure" your own fee, so you have to contact the wallet provider to inform them of this situation. These

spam attacks are causing fee spikes and the wallet providers are not adjusting fees correctly when this happens and it causes frustration like

this. 

[ePesoInitiative]

I just use https://coinb.in/#newTransaction

No headaches

[bartolo]

These delays in transactions are a clear message that says that it´s necessary to solve the problem of scalability as soon as possible. One of the great advantages of Bitcoin has always been the speed of transactions, it´s important to maintain this and avoid the frustration of users.

[Ayers]

I wonder what is happening in bitcoin network. 8 hour's to transfer coin from blockchain   into localbitcoin wallet.

Currently, this is happening who knows what is going to happen within the next 3-5 year's.


Thanks

did you used the correct fee? the fee is now very high maybe you used a low one and hopefully in the next years they will fix this will segwit or another solution for handle better capacity

here is it : https://blockchain.info/tx/76e8ba354b6ad26a6af7124a0f3f66a66708865953db6634b4d018e279463301

as expected you used half of the fee, it's the reason of the delay, people always open topic and complaing about the speed of transaction, but we always discovered that they used incorrect fee

[Sniper44]

Would you care sharing the information on what wallet service you used, so that we can collectively try to address this? Some of these wallet services do not have the option to "configure" your own fee, so you have to contact the wallet provider to inform them of this situation.

people (wrongfully) call blockchain.info wallet as blockchain, or blockchain wallet. and OP said "transfer coin from Blockchain..."
and they DO have an option to manually configure fees. it is the same place right after you make the transaction and are about to send it in a button saying "more" option or something like that.

[iamTom123]

This is at the cor of the problem which the Bitcoin community is debating right as to the right and acceptable solution to satisfy the majority of stakeholders. Of course, this is leading to increase in fees as we have to shoulder the cost of the transfer...the bigger your fees the more you are prioritize by the miners...as it looks like an auction style. Anyway, am hoping and confident that soon the problem can be given its correct solutions. Good thing that the value of Bitcoin is now ignoring this problem.