Why is bitcoin becoming so god damn slow?

[c0in3r]

Hello,

I was under the impression that this new currency was fast, my first payment took 3 days to confirm, was told it was something about the fees, i now have increased my fees and i've waited 2 hours, nothing..
can someone tell me why this payment wont just confirm already?
https://blockchain.info/tx-index/93d43009a1efd4a9fdc4b63e8126599234ac2fb433097095c496445040e6240e

this bitcoin thing is absolutely horrible, the fee is constantly increasing and the delay seems insane, can't be used with trust when payments are days delayed everytime you don't want to spend 10% of the amount you send in fees.

[Holliday]

You don't know how to use Bitcoin obviously. All my transactions confirm in the next block.

Bitcoin isn't suited for micro-transactions. If you are using Bitcoin to send a dollar, you are going to have a bad time.

[BitFinnese]

You don't know how to use Bitcoin obviously. All my transactions confirm in the next block.

Bitcoin isn't suited for micro-transactions. If you are using Bitcoin to send a dollar, you are going to have a bad time.

I agree, and you just nailed it.  If a person knows how to send transaction properly, he does not need to post this kind of stuff (OP's whining)  Bitcoin confirmation does not change, it is the transaction fee and rate that does change.  So in order to have a fast transaction we need to follow the transaction fee rule.

[c0in3r]

So a person wanting to use the currency must more or less be some kind of wallsreet trading expert and follow the market fees daily to use this to pay every now and again, gotcha.

paid 1$ for a 130$ transaction, seems fair enough, banks take less and its instant

absolute horrorshow.

[lizardbtc]

Bitcoin should be fast, but it is not designed to keep up with this huge amount of user activity. As it is a decentralized currency it is not that easy to change the code and let everyone agree on it. There are 2 ways that have the most supporters atm, that want to make bitcoin to work faster - SegWIt and Bitcoin Unlimited. I won't go into details of these... But they can't agree for months which to active...

If you are looking for more instant transactions I'd suggest you to look at some altcoins such as litecoin and dash for example. Their networks dont have many transactions. Litecoin even has SegWit.

What could you do to try to push your transaction is to enter your transaction ID here : https://www.viabtc.com/tools/txaccelerator/ , viabtc is a bitcoin mining pool that want to help btc users to get our transactions to confirm faster and its with no charge. Though you will still need to wait for them to mine a block but your transaction will end up confirming faster.


Here you can see fees that you need to put in order for your transaction to be confirmed within 1hour or less : https://bitcoinfees.21.co/

[Holliday]

So a person wanting to use the currency must more or less be some kind of wallsreet trading expert and follow the market fees daily to use this to pay every now and again, gotcha.

paid 1$ for a 130$ transaction, seems fair enough, banks take less and its instant

absolute horrorshow.

God forbid you should bother simply checking a website before making a transaction.

https://bitcoinfees.21.co/

Bitcoin is censorship-proof. Banks require permission. A centralized solution should always be more efficient than a decentralized one.

Clearly you, along with many others, have been spoiled by the early days of Bitcoin when there was far less competition to append the block chain.

[~Bitcoin~]

So a person wanting to use the currency must more or less be some kind of wallsreet trading expert and follow the market fees daily to use this to pay every now and again, gotcha.

paid 1$ for a 130$ transaction, seems fair enough, banks take less and its instant

absolute horrorshow.

- No you don't have to follow market fee each day, just use wallets like electrum that will just put enough fee on your transaction to get confirmation within next block.

- This fee used to be enough in past but due to lots of spam transactions filling mempool for last few days, you have to increase fee to get faster confirmation.

- Yes its horror show right now due to spam attacks, when LN and segwit will be activated in bitcoin it will again be suitable for micro transaction with cheaper fee and faster confirmation.

[The One]

Bitcoin should be fast, but it is not designed to keep up with this huge amount of user activity. As it is a decentralized currency it is not that easy to change the code and let everyone agree on it. There are 2 ways that have the most supporters atm, that want to make bitcoin to work faster - SegWIt and Bitcoin Unlimited. I won't go into details of these... But they can't agree for months which to active...

If you are looking for more instant transactions I'd suggest you to look at some altcoins such as litecoin and dash for example. Their networks dont have many transactions. Litecoin even has SegWit.

What could you do to try to push your transaction is to enter your transaction ID here : https://www.viabtc.com/tools/txaccelerator/ , viabtc is a bitcoin mining pool that want to help btc users to get our transactions to confirm faster and its with no charge. Though you will still need to wait for them to mine a block but your transaction will end up confirming faster.


Here you can see fees that you need to put in order for your transaction to be confirmed within 1hour or less : https://bitcoinfees.21.co/

I wanted to transfer BTC between two exchanges. Bought STR cheap and transferred it to another exchange and sold it, using Steller network which took less than a minute.
Waited for the one exchange "fiasco" to finish and bought cheap STR back again and transferred it to the "fiasco" exchange and converted back to BTC which was cheaper than when i started. Very profitable.

There are altcoins which can do it better than litecoin, etc. Due to Bitcoin's "civil war", one has to look at other ways to get around the long confirmation time.

[coolcoinz]

OP, your transaction landed in a pool of 63588 unconfirmed transactions in the last 24 hours and you sent it only 6 hours ago. Looking at these numbers you can expect it to confirm within the next 8 hours, so go to bed and when you wake up it should be there all fine and green.
Next time set a bigger fee. Only 4 satoshis more would have bought you a 3h confirmation! Now ask yourself if those 10 hours more that you will have to wait were worth 4 sat.

[iluvpie60]

Try using other coins for smaller transactions. If you are buying 5 dollars of coffee bitcoin is not what you want. In that case it would be better to use a prepaid bitcoin debit card that converts to usd.

Litecoin for small stuff until segwit happens for btc.

[canvan]

Not everyone is an expert so how about people stop blaming him. If we want bitcoin to be widely adopted it should be simple enough that anyone can use it efficiently.

OP, as lizardbtc already pointed out your best chance now is to use viabtcs accelerator.

[unamis76]

Great, this is what the scaling stalemate has created... Frustrated newbie users and tired experts/regular users. Good to see a post like this around here, maybe it will make some think differently.

[GetClams.com]

You don't know how to use Bitcoin obviously. All my transactions confirm in the next block.

Bitcoin isn't suited for micro-transactions. If you are using Bitcoin to send a dollar, you are going to have a bad time.

I agree, and you just nailed it.  If a person knows how to send transaction properly, he does not need to post this kind of stuff (OP's whining)  Bitcoin confirmation does not change, it is the transaction fee and rate that does change.  So in order to have a fast transaction we need to follow the transaction fee rule.

Nobody is educating newbys. That is is a huge part of the problem. There needs to be webinars and seminars to help people along.

[maydna]

You don't know how to use Bitcoin obviously. All my transactions confirm in the next block.

Bitcoin isn't suited for micro-transactions. If you are using Bitcoin to send a dollar, you are going to have a bad time.

I agree, and you just nailed it.  If a person knows how to send transaction properly, he does not need to post this kind of stuff (OP's whining)  Bitcoin confirmation does not change, it is the transaction fee and rate that does change.  So in order to have a fast transaction we need to follow the transaction fee rule.

Nobody is educating newbys. That is is a huge part of the problem. There needs to be webinars and seminars to help people along.

i think new people that start to join into bitcoin world needs to learn by own self and not depend and waiting from the other member answer so the knowledge of that new people will be increased with learning from other source. i think OP needs to wait more long to see the transaction to gets confirmed because until now, i see the transaction is still unconfirmed transactions. maybe the network is over load and it cause the transactions getting too slow to gets confirmed. so i suggested to the OP to be patience and i am sure in the end, the transactions will gets confirmed soon.

[Weatherby]

Not everyone is an expert so how about people stop blaming him. If we want bitcoin to be widely adopted it should be simple enough that anyone can use it efficiently.

OP, as lizardbtc already pointed out your best chance now is to use viabtcs accelerator.

The viabtc accelerator is always full in recent weeks and when ever i try to push the transaction through them they just showed that it is full.I do accept the fact that for everyone to be adopted bitcoin should be simple enough and the first transaction is always the difficult one ,after that you will understand how things work and you will get to know about it.

[Minecache]

Great, this is what the scaling stalemate has created... Frustrated newbie users and tired experts/regular users. Good to see a post like this around here, maybe it will make some think differently.

Yup we need a fuckin solution implemented already. Look how SegWit boosted LTC. When will people fuckin learn? Your quarrels have stagnated BTC enough.

[stiffbud]

Not everyone is an expert so how about people stop blaming him. If we want bitcoin to be widely adopted it should be simple enough that anyone can use it efficiently.

OP, as lizardbtc already pointed out your best chance now is to use viabtcs accelerator.

The viabtc accelerator is always full in recent weeks and when ever i try to push the transaction through them they just showed that it is full.I do accept the fact that for everyone to be adopted bitcoin should be simple enough and the first transaction is always the difficult one ,after that you will understand how things work and you will get to know about it.

There is a paid accelerator from btc.com : https://pushtx.btc.com/#/ If you do not mind paying to get your transaction acclerated then this is an alternative to viabtc. @OP bitcoin wasn't as slow as what is happening these days, as bitcoin gains more usrs and the more transactions happening the network becomes busy and because of that a lot of transaction are being late to be confirmed. No need to panic or be frustrated, next time just use  higher fee if you don't want to wait.

[FlamingFingers]

Your transaction fees are still low (or moderate), the best, most reasonable fees for the transaction to be confirmed in 1-2 hours fall in the 220+ Satoshi/Byte section. This delay is due to the numerous transactions that the network isn't yet prepared to confirm. We have what we call 'Spam Transactions' which are meant to slow down the network for a specific reason. We also have the block limit (1MB), which can't confirm too many transaction (the size control the number of transactions being confirmed).

[Minecache]

I really miss those old days when a confirmation took just 10 minutes and you didn't need to think about fees.

[Palodar]

I really miss those old days when a confirmation took just 10 minutes and you didn't need to think about fees.

Now that bitcoin value is really high impressive the cons of this is the transaction delays and high fees that we need to face. Every transaction now must be really indeed important.