Returning to bitcoin after 2 years! shocked at confirmation time!

[eaLiTy]

This was not the bitcoin i had seen!
What in the world has happened to bitcoin
It is almost one day and the transaction has not been confirmed and as a result i am not able to trade in any exchange..
i have heard that the transaction confirmation time has increased but never expected this worst case.. at this rate everyone will soon abandon bitcoin and this is the reason perhaps bitcoin dominance has come down significantly in the crypto space

If you really checked the price of bitcoin you would not say that the dominance of bitcoin has come down significantly ,yes there is a significant change in transaction delays and the price of transaction has increased in the past few months and if you are not able to provide the required fees then your transaction might get rejected.

[DoublerHunter]

There is already a lot of things that have been changed ever since. A lot of people now are using bitcoin and a lot of volumes of both money and users are coming to bitcoin everyday so there is no surprising moment for bitcoin if the transaction confirmations takes a lot of time because the network is getting more crowded and that is causing so much traffic to the network.

[johnwest]

This was not the bitcoin i had seen!

What in the world has happened to bitcoin


It is almost one day and the transaction has not been confirmed and as a result i am not able to trade in any exchange..

i have heard that the transaction confirmation time has increased but never expected this worst case.. at this rate everyone will soon abandon bitcoin and this is the reason perhaps bitcoin dominance has come down significantly in the crypto space

This thread number 1000 complaining about the confirmation time.
This happens every time when bitcoin price skyrockets,but  you are returning to btc ,so i assume you didn`t know about that.

I think he havnt saved any BTC in the past and after seeing the price, he got a heart attack and got frustrated. For that kind of price the fee will also be higher than the normal mate. But still it is low if you compare other service providers as well as currencies.

[Weatherby]

I think he havnt saved any BTC in the past and after seeing the price, he got a heart attack and got frustrated. For that kind of price the fee will also be higher than the normal mate. But still it is low if you compare other service providers as well as currencies.

It is really hard to compare bitcoin transaction with any other transaction platforms and you really cannot compare the price difference as it is not fair, it is really frustration to see the price of transaction is getting higher with the price ,we need to increase the block limit to accommodate more transactions and that is the only solution here.

[iamTom123]

There is still no consensus as to what solution to adopt to clear the scaling problem affecting Bitcoin right now. The division now clearly happening in the Bitcoin community though not affecting the price but definitely making transactions more costly and a lot delayed. You are right, the Bitcoin today was not the Bitcoin two years ago. Hope solutions can be afforded soon so that we can move on and Bitcoin can already be growing according to its real potential.

[Sr.Urbanist]

whats wrong w eth

Probably nothing.  It's really cool, but there seem to be secrets with the pre-mining and DAO.  Also, it's just not my space.  For me it's a bit of a Rube Goldberg Machine. I'm sure there is a lot of money to be made with the major banks jumping into the space.  However, they "are switching" to PoS.  Putting the pre-mining, DAO, PoS, bank investments and unlimited number of tokens together leads me to a slope of centralization.

I do own a little ETC for speculation.

Send $50 of LTC , transaction fee was 1 penny.
I also am moving to LTC , it arrived so fast at it's destination compared with bitcoin , it was a pleasant surprise.

It is a pleasure to use and an old bitcoin chain, so it has many of the same characteristics.

[btc_angela]

There is still no consensus as to what solution to adopt to clear the scaling problem affecting Bitcoin right now. The division now clearly happening in the Bitcoin community though not affecting the price but definitely making transactions more costly and a lot delayed. You are right, the Bitcoin today was not the Bitcoin two years ago. Hope solutions can be afforded soon so that we can move on and Bitcoin can already be growing according to its real potential.

Exactly. The politics going on with this scaling issue has been the main bottleneck for some time now that is make bitcoin not really ideal for micro-transactions. The only way around is to used a higher transaction fee so that chances of you getting to the next block to process your transaction is high. We are all hoping that the issue can be resolved to help bitcoin grow and be mass adopted.

[Sr.Urbanist]

The only way around is to used a higher transaction fee so that chances of you getting to the next block to process your transaction is high.

I find I can send 20 transactions to another wallet with no fee and, when I need them to go through, I send a small transaction with a high fee and it picks them all up. I don't know why, but as long as it's wallet address A-->B for each transaction it seems to work.

[alyssa85]

No one is going to abandon bitcoin except you.

And me.  I'm moving to LiteCoin, as soon as they get SegWit figured out and this warning on my core node goes away:

1. 2MB blocks
2. 2.5 minute tx times
3. Can buy on Coinbase
4. A couple PH of security (mining)
5. It's not ETH
6. LOW transaction fees (merchant acceptance)

Not everyone is a Bitcoin maximalist.

Segwit has already been locked into litecoin. see

https://www.cryptocoinsnews.com/litecoin-successfully-activates-segwit/

Litecoin is the biggest digital currency to successfully activate segwit which went live around 6PM London time on the 10th of May 2017 with segwit transactions now available for use depending on the litecoin wallet.

It is now immediately available to use if your service provider has upgraded to support segwit.

The Lightning Network (LN) is now to be deployed, a second layer protocol on top of litecoin which can handle thousands of transactions per second by using the base, on-chain layer, only as a settlement for payments.

Not many people are using it though - possibly because they don't realize it has gone live.

[The One]

In all that time you didn't bother to learn how to use Bitcoin? That's unfortunate.

There is more competition to append the block chain these days and if you want to be first in line (priority) you have to outbid other users.

Bitcoin is not an auction.

Queue jumping in the real world is bad manners.

[MysticOne]

This was not the bitcoin i had seen!

What in the world has happened to bitcoin


It is almost one day and the transaction has not been confirmed and as a result i am not able to trade in any exchange..

i have heard that the transaction confirmation time has increased but never expected this worst case.. at this rate everyone will soon abandon bitcoin and this is the reason perhaps bitcoin dominance has come down significantly in the crypto space

  At a time when this is many peoples first encounter with bitcoin due to the ransomware the long confirmation times will definetly be turning many off. If Bitcoin wants mass adoption to take place it has to lower the tx time. Nobody wants to be waiting in a store to confirm a tx for 4 hours.

[Sr.Urbanist]

Segwit has already been locked into litecoin.

Yup.  I think it's neat, but I'm not all that into 2004 Ripple tethering.  I am interested to see what it brings.  For now, my Litecoin node holds no $LTC. I'll pull my coins back into my node from Jaxx once the warning goes away within the software.  

Any idea when they are going to release the software to accommodate the new rules?  

[dothebeats]

You came back at the wrong time, when some entity are doing their rounds of spam attack which is already on-going for a few weeks now. Their reason I know nothing about, but the 'only' workaround for the slow confirmation times is raising your few a little bit more to get it confirmed much faster and be placed in high priority.

[LFC_Bitcoin]

Simply pay the proper fee. Most clients include that functionality by now.

This. Being a cheap ass on the fee will get you what you deserve -- a delayed confirmation time.

[bouren]

This was not the bitcoin i had seen!

What in the world has happened to bitcoin


It is almost one day and the transaction has not been confirmed and as a result i am not able to trade in any exchange..

i have heard that the transaction confirmation time has increased but never expected this worst case.. at this rate everyone will soon abandon bitcoin and this is the reason perhaps bitcoin dominance has come down significantly in the crypto space

Situation has turned worst. Yesterday, I tried to send $0.7 via btc but as soon as I clicked 'send', $1.03 fees attached with my transaction.
The day was not much ago when bitcoin used to be the saviour of micropayments but consider present, the fees hit $1+.
The time has come when bitcoin need to resolve scaling in order to maintain its legacy.

[btcforall777]

Too bad it will take a "catastrophe" to force the community to make a decision on block size issue. Nonetheless, the issue will be resolved and we will continue to move forward.

[Sr.Urbanist]

... some entity are doing their rounds of spam attack

What are you talking about? 

[MingLee]

This was not the bitcoin i had seen!

What in the world has happened to bitcoin


It is almost one day and the transaction has not been confirmed and as a result i am not able to trade in any exchange..

i have heard that the transaction confirmation time has increased but never expected this worst case.. at this rate everyone will soon abandon bitcoin and this is the reason perhaps bitcoin dominance has come down significantly in the crypto space

Your quick rundown on this entire fiasco is basically a bunch of repeated spam attacks have been driving up the unconfirmed transactions while also increasing the fees, and now it's a game of trying to get your transactions confirmed within a decent time while also trying to not pay a ton in miner's fees. It really is a mess but no-one is interested in figuring things out.
People won't be abandoning yet. There's still too much to lose.

[cramcram21]

This was not the bitcoin i had seen!

What in the world has happened to bitcoin


It is almost one day and the transaction has not been confirmed and as a result i am not able to trade in any exchange..

i have heard that the transaction confirmation time has increased but never expected this worst case.. at this rate everyone will soon abandon bitcoin and this is the reason perhaps bitcoin dominance has come down significantly in the crypto space

I think the transaction was pretty fast 2 years ago because the number of users aren't big yet,
And right now we have so many bitcoin users who are sending and receiving in the same time so I think it is one of the reason why the confirmation takes time.

[Betwrong]

You are unlucky to come back in the middle of a spam attack, probably related to the review of the ETF result that will happen in Monday.

In the last spam attack some of my transactions also took some days to be confirmed, but they eventually got confirmed.

Things will return to normality, eventually

I think that's the most important thing here, even with the lowest fee transactions get confirmed sooner or later. A friend of mine waited more than 3 days lately and even started to panic because he's not much into Bitcoin and he thought he might lose the money.

But of course for people who do trading waiting so long is unacceptable. And that's why it became impossible to trade small amounts. But with bigger amounts, when you can easily afford paying $1.5 for transaction, you can trade even now.