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

[7jaka7]

2 years ago, we don't really care about fees of payment transaction blockchain and we can easily send and receive bitcoin in just minutes. But now, I can't understand​ why I have to pay miner to confirm my transaction when they have reward on block they solve.

As i understand it blocks are new generated bitcoins, and fees which we are paying with every transaction is their payment... And once no new bitcoins will be generated through blocks only fees will keep the thing going. So fee is a must be.

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[shield132]

Yeah, things are going from normal to worst. One good thing is that price has increased but as mentioned, confirmation time is terrible and plus we have to pay very, very high fees and still confirmation time sucks.
We need something to fix current situation because things aren't going good and day to day using of bitcoin becomes terrible. I think bitcoin will lost it's users if something won't happen and situation won't be fixed.

[Xester]

First of all Op after a long break getting back to bitcoin is simply good and soon he'll omit the transaction confirmation is not at all an big issue. In the past the transaction fee is low as the price is low along with the low usage. Now everything has increased even with big fee confirmation delay happens just because of increased user profiles.

The reason why the miner fee is increasing is because of the hard time to mine bitcoins. The reason is that there is a spam attack on the blockchain that causes delay and eats upon the blocksize. The miner fee was placed by the web wallet host and by the exchangers so that your btc transaction could be process much faster. The higher your miner fee the faster your confirmation will be.

[lottery248]

man, due to most of the altcoins are traded with bitcoin, the bitcoin dominance is never been less than 50% unless the allowance of trading between fiats and alts directly. i know the spee dof transaction is too slow, but bitcoin is still the most popular cryptocurrency, after all, and has better ability to trade. the high transaction volume, and the higher difficulty of working in bitcoin, resulting the everhigher fee for faster confirmation.

Yeah, things are going from normal to worst. One good thing is that price has increased but as mentioned, confirmation time is terrible and plus we have to pay very, very high fees and still confirmation time sucks.
We need something to fix current situation because things aren't going good and day to day using of bitcoin becomes terrible. I think bitcoin will lost it's users if something won't happen and situation won't be fixed.

+1 until the blockchain size growth doubles for higher amount of transactions.

[szpalata]

Well that's  the sad story we've all been meted with and instead of building a consensus on how to solve the problem the community is rather divided and everyone seeking fame with his opinion. I don't know when it's going to be solved but this doesn't auger well for Bitcoin.

[susila_bai]

Ya this is the main issue of problem facing by the bitcoin users and even when paying high fees the confirmation of transaction is taking very long time, until this is not solved bitcoin may get more negative aspects

[DoublerHunter]

Ya this is the main issue of problem facing by the bitcoin users and even when paying high fees the confirmation of transaction is taking very long time, until this is not solved bitcoin may get more negative aspects

The high fees can be solved as well as the slow confirmation time in the blockchain network and the solution for me is the, segwit like in the litecoin which will make the transactions faster and the fees might go down and that is when we are going to have a non-hassle transactions and problems again.

[RoommateAgreement]

Ya this is the main issue of problem facing by the bitcoin users and even when paying high fees the confirmation of transaction is taking very long time, until this is not solved bitcoin may get more negative aspects

The high fees can be solved as well as the slow confirmation time in the blockchain network and the solution for me is the, segwit like in the litecoin which will make the transactions faster and the fees might go down and that is when we are going to have a non-hassle transactions and problems again.

i am really happy about litecoin, because as we all know it is the exact copy of bitcoin and it has always been considered as the silver to bitcoins gold. and my happiness is because now that this copy of bitcoin has activated SegWit, many of miners can finally change their mind and join the SegWit train and with a bigger support we can finally activate it even if it means using UASF.

[paul gatt]

Well that's  the sad story we've all been meted with and instead of building a consensus on how to solve the problem the community is rather divided and everyone seeking fame with his opinion. I don't know when it's going to be solved but this doesn't auger well for Bitcoin.

There are still many different opinions on this issue. People do not have a common idea, so they always contradict each other, and the problem becomes more difficult to resolve. Basically, bitcoin needs larger block numbers, but security needs to be met.

[radjie]

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 also feel that the transaction within a day can not be confirmed, This is due to the increase in users bitcoin transaction to effect the confirmation of many.
Perhaps scientists are trying to improve the convenience of bitcoin transactions.

[mmo4me.2016]

I think, the price of the new BTC surprised you, while the confirmation time is high but it is inevitable when the number of transactions increased dramatically.

[stompix]

No one is going to abandon bitcoin except you.

6. LOW transaction fees (merchant acceptance)

Not everyone is a Bitcoin maximalist.

You know what is the only thing you can buy with LTC?  Bitcoin!!!!!

Ya this is the main issue of problem facing by the bitcoin users and even when paying high fees the confirmation of transaction is taking very long time, until this is not solved bitcoin may get more negative aspects

Paying the fee recommend at http://bitcoinfees.21.co/ has always worked for me.
If you transfer more than 100$ don't be stingy over a few cents.

The reason why the miner fee is increasing is because of the hard time to mine bitcoins. The reason is that there is a spam attack on the blockchain that causes delay and eats upon the blocksize. The miner fee was placed by the web wallet host and by the exchangers so that your btc transaction could be process much faster. The higher your miner fee the faster your confirmation will be.

Lols, hard time to mine bitcoins?
Please, spend alt least 5 minutes reading how bitcoin mining and block transaction work.
It's not even funny when poeple so involved in btc don't have a clue about the basics.

[sikke]

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

That is true, confirmation time has increased in last few months slightly, but the change is not so big as you may think.
It is more about what fee are you wiling to pay for a transaction, because if you want to get your transaction confirmed in the first block, then you should just go with a fee that is high enough to be very attractive to miners. After all, they have profits from doing that, so they are seeking for the transactions that give the biggest bounty: where the fee is highest.

Usually, average fee right now is somewhere between 35-50k satoshi, not 20k like previously.
I advise you to use https://bitcoinfees.21.co/ , it is very useful for doing transactions at blockchain.

[MachineZero]

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

I second that.

Made two transactions at the same time last night. LTC and BTC. Both with recommended fees.
BTC confirmed once before LTC did. It was 220/sat per byte.
Bitcoin is a utility that apparently has huge adoption. Pay accordingly.

As for mass adoption, congestion will clear when greed makes friends out of adversaries. So funny that people getting sucked into debate when they really get nothing out of it. This is a power grab, not an issue of ignorance. Either side trying to drum up support, when in the end, a truce between the parties is the only way to move forward on scaling.

[Hazir]

This was not the bitcoin i had seen!
What in the world has happened to bitcoin

At the time you left bitcoin there wasn't enough people to use it. Hence confirmation times were shorter.

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

Go ahead and pick any altcoin of your choice. Altcoins are 'fast' because there is barely anyone sending any transaction. Bitcoin was the same once.
Do you think that if that altcoin will have bitcoin's user base and its network would be directly an constantly spammed everyday, it would be still as  fast as it is now?

[inck]

I think it would be a really great idea if wallets would integrate a feature that shows how long the transaction will take approx with different dynamic fee settings.

[roadbits]

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

That is true, confirmation time has increased in last few months slightly, but the change is not so big as you may think.
It is more about what fee are you wiling to pay for a transaction, because if you want to get your transaction confirmed in the first block, then you should just go with a fee that is high enough to be very attractive to miners. After all, they have profits from doing that, so they are seeking for the transactions that give the biggest bounty: where the fee is highest.

Usually, average fee right now is somewhere between 35-50k satoshi, not 20k like previously.
I advise you to use https://bitcoinfees.21.co/ , it is very useful for doing transactions at blockchain.

Because of this late transaction now all sites are increased the confirmation fee to get fast confirmation. Before it was standard fee 0.0002 BTC if we pay this amount the transaction will confirm within few minutes. But now it's doubled we have to pay 0.0004 BTC to get fast confirmation. The speed increased, but the fee is bit high we can't do anything we must pay.

[iluvpie60]

Fees go up as demand increases. Everyone should realize that. Also the rewards per block are less and less. Miners need btc pirces higher andore fees to keep going.

[Sr.Urbanist]

No one is going to abandon bitcoin except you.

6. LOW transaction fees (merchant acceptance)

Not everyone is a Bitcoin maximalist.

You know what is the only thing you can buy with LTC?  Bitcoin!!!!!

I accept Litecoin. You can buy pepper seeds from me with Litecoin. All I have left is Yum-Yum and Thai Pepper.  I am sold out of the rest. 5 Yum-Yum for .109 LTC or 20 Thai for .109 LTC. Very high quality genetics and origin sourced.  

EDIT: You can also buy USD.

I use shapeshift.io/ and enter the BTC address for purchases as a way to avoid speed up my transactions.

If you transfer more than 100$ don't be stingy over a few cents.

What if you are sending 10.15 Venezuelan Bolívar for some rice?

https://www.forbes.com/sites/realspin/2017/02/03/why-venezuelas-currency-crisis-is-a-case-study-for-bitcoin/#3d03eb4619b2

I think it would be a really great idea if wallets would integrate a feature that shows how long the transaction will take approx with different dynamic fee settings.

It's difficult to tell because sometimes it takes an hour, usually once per day, for a new block to propagate. I use btc.com to see recommended fees.  I like the idea of being able to tell what fee you will attach is good because I rarely pay more than 0.0002225; it just takes a while, though not always.

When it comes to block size there is this:

[giletto]

Yeah man, you have to accept the truth. Too many people are using Bitcoin and the technology of Bitcoin is not being improved yet. That is why it is still remaining slow and may become slower in the future