Confirmation became really fast, what has happened?

[Minor1301]

Did anyone have algorithm that is used (or some formula) for confirmation?

[Barcode_]

It seems that the mass spamming of micro transaction onto blockchain network have stopped at least for now, and it is good news for every bitcoin users as the networks seems to be more stable now, and everyone is able to enjoy the faster transaction speed and also paying lesser miners fees for confirmations now, a few of my transactions was able to confirm within 30 minutes time even though I have used a low miners fees

[carlisle1]

It seems that the mass spamming of micro transaction onto blockchain network have stopped at least for now, and it is good news for every bitcoin users as the networks seems to be more stable now, and everyone is able to enjoy the faster transaction speed and also paying lesser miners fees for confirmations now, a few of my transactions was able to confirm within 30 minutes time even though I have used a low miners fees

wow that's nice to know since I haven't got that much bitcoin to transfer so I didn't notice the change better to know that it was fixed somehow and the transaction is more faster than before and just adding from my local wallet the fee also got lowered so its really nice to do some transactions.

[JohnBitCo]

I just read some news about bitcoin and i read that it is about implementing the beta version of the code for the upcoming fork and i think that is the reason why most of the confirmations now are faster than before and it is a sign that the fork in august 1 will become a very good addition for bitcoin transaction and also confirmation speed.

If that is so, then it means there is no drawback of this and after August 1 , we shall see a big rise in the price. Slow Confirmation was the only problem in bitcoin blockchain and if that is solved then we see a new rise in the price of bitcoins.

[LFC_Bitcoin]

miners stopped spamming the network in an attempt to force bigger blocks.

Pretty much this in as few words as possible. I'm sure they'll start spamming again as we get close to August 1st though unfortunately.

[digaran]

A scaling solution seems to have been reached, so spammers decided to stop, meaning that you can now get confirmations with no fees or almost no fees.

Plus the hype has died down lately.

Its confirmation really fast that's right. If you need money to cash it out the only thing you need is the internet. There are no transaction fees if you choose to cash it out in security bank. My girlfriend used security bank because there are no fees. You just enter your control number to get your money. It's easy to use this kind of remittance. But I'm not yet experienced that because here in my province don't have any security bank. I hope that will have security bank soon in my province.

What a bunch of utter bull shit, I'd fack that girlfriend of yours just for being your GF, though I think she would easily spread for me given the level of your stupidity. OH MY FACKING LOLZ, why the hell should we care about your security bank? this is Bitcoin you fack and it has nothing to do with cashing out remittance and your province, sorry I just had to let it out. lol
I've been paying $0.14 cents for my TXs lately, the ominous triangle of Roger-Gavin-Jihan are coming to their non-senses. lol

[megynacuna]

miners stopped spamming the network in an attempt to force bigger blocks.

Pretty much this in as few words as possible. I'm sure they'll start spamming again as we get close to August 1st though unfortunately.

I hope not but even if they do I doubt if they'll be able to get the results they seek because a solution is imminent and negative orchestrations against Bitcoin will not wash. It's too late for them in my opinion if they are indeed responsible for those spam attacks.

[Reid]

Its confirmation really fast that's right. If you need money to cash it out the only thing you need is the internet. There are no transaction fees if you choose to cash it out in security bank. My girlfriend used security bank because there are no fees. You just enter your control number to get your money. It's easy to use this kind of remittance. But I'm not yet experienced that because here in my province don't have any security bank. I hope that will have security bank soon in my province.

I think you posted on the wrong thread my friend. Better clean this up.

Regarding the transaction. I think the fee was really high. I dont pay that much for a day transaction.   
It doesnt go beyond 100k sats for that amount.
If it is really faster now it is good. Havent done a tx yet so i wouldnt know.
If the spams are out then it is another good news but there is no clarity if this will be for long term or you just got the priority.

[bitart]

Nowdays I've got used to the fact that bitcoin transactions were just hanging in the mempool for quite a long time, but today I just realized that something has happened.
I've started a transaction of 0,05 BTC (not a huge amount) with the possible lowest (and slowest) low-prio fee, and I thought that it will take days to get confirmed (or at least one day). The fee was about 0,0034... BTC (159 sat/byte).
In an hour (or less), it was confirmed, the first 4 confirmation was done in 15 minutes. I was totally surprised. I've checked the mempool later on, it has been settled, it seems. These are the first few weeks since the beginning of May when the mempool isn't full.
I don't know what has happened, but it seems promising. (Or not, if it's in connection with the August 1st deadline, but who knows... I don't, but if anybody knows, please help me to understand what is going on behing the scenes...)

That isn't a very low fee for the transaction you did mate. Moreover it is possible there may be no much congestion when you made the transaction, hence the reason why it was quite fast but all the same 0.0034 isn't a small transaction fees.

Exactly, 0.0034 can't be considered to be low fee. Although compared to the amount op sent I had to add almost the same amount of fee for a much lesser amount to be confirmed. So it's good to know that the fee has lowered a little but still it's very high and nothing to be satisfied with.

OK then, now I'm totally confused
I've started the transaction from a mobile wallet. I have chosen the lowest priority from the drop down list, with the lowest fee possible.
It seems that the lowest fee is still above the average, and that mobile wallet has no option to input any fee, just has the possibility to choose the priority (and the matching pre-calculated fee).
It's high time to change the mobile wallet, I guess, as you all tell me that that fee was way too high for this amount...
I've understood that priority doesn't determine the fee, so I need a wallet where I can input a really low fee and send the transaction to an accelerator.

[joebrook]

Nowdays I've got used to the fact that bitcoin transactions were just hanging in the mempool for quite a long time, but today I just realized that something has happened.
I've started a transaction of 0,05 BTC (not a huge amount) with the possible lowest (and slowest) low-prio fee, and I thought that it will take days to get confirmed (or at least one day). The fee was about 0,0034... BTC (159 sat/byte).
In an hour (or less), it was confirmed, the first 4 confirmation was done in 15 minutes. I was totally surprised. I've checked the mempool later on, it has been settled, it seems. These are the first few weeks since the beginning of May when the mempool isn't full.
I don't know what has happened, but it seems promising. (Or not, if it's in connection with the August 1st deadline, but who knows... I don't, but if anybody knows, please help me to understand what is going on behing the scenes...)

That isn't a very low fee for the transaction you did mate. Moreover it is possible there may be no much congestion when you made the transaction, hence the reason why it was quite fast but all the same 0.0034 isn't a small transaction fees.

Exactly, 0.0034 can't be considered to be low fee. Although compared to the amount op sent I had to add almost the same amount of fee for a much lesser amount to be confirmed. So it's good to know that the fee has lowered a little but still it's very high and nothing to be satisfied with.

OK then, now I'm totally confused
I've started the transaction from a mobile wallet. I have chosen the lowest priority from the drop down list, with the lowest fee possible.
It seems that the lowest fee is still above the average, and that mobile wallet has no option to input any fee, just has the possibility to choose the priority (and the matching pre-calculated fee).
It's high time to change the mobile wallet, I guess, as you all tell me that that fee was way too high for this amount...
I've understood that priority doesn't determine the fee, so I need a wallet where I can input a really low fee and send the transaction to an accelerator.

I totally agree, a change in the mobile app of blockchain will be totally welcome so that we can have faster transactions on the go.I will welcome any knowledge about how to speed up transaction even with the lowest fees because the current fees are just too much especially when u need a faster confirmation.

[doomloop]

A scaling solution seems to have been reached, so spammers decided to stop, meaning that you can now get confirmations with no fees or almost no fees.

Plus the hype has died down lately.

Its confirmation really fast that's right. If you need money to cash it out the only thing you need is the internet. There are no transaction fees if you choose to cash it out in security bank. My girlfriend used security bank because there are no fees. You just enter your control number to get your money. It's easy to use this kind of remittance. But I'm not yet experienced that because here in my province don't have any security bank. I hope that will have security bank soon in my province.

now a day’s bitcoin demand is going high people who use bitcoin is increased because of its high demand and smooth availability bitcoin workers are working on it to make it faster and simple soon it will be more convenient and fast. People will not have to wait so long for conformation it will make it easier for all people. 

[squatz1]

Simple: Bitmain and Roger Ver have stopped spamming the network. If you look at the mempool graph it was clear it was just another attack by the big blockers to bitch and moan about high fees and confirmation times.

Just wait for the hardfork drums to start making noise again, they will turn their spam machines again to try to force support for their altcoin.

This is going to be the big one when it comes to this issue, hoping more and more people will be able to see it through and see these guys for the little shits that they are. They pretty much spent a ton of money to be able to fuck up this network for a long time, and as bad as that sounds they then go ahead and try to propose an alternate consensus to fix the network problem which they caused-- it's fucking shitty, but that's the world we live in these days.

Hoping that this stays on for awhile so I'm able to get more and more friends involved in Bitcoin, it's been tough with the network congestion and high fees to be able to justify them coming over to the dark side.

[bamboylee]

OK then, now I'm totally confused
I've started the transaction from a mobile wallet. I have chosen the lowest priority from the drop down list, with the lowest fee possible.
It seems that the lowest fee is still above the average, and that mobile wallet has no option to input any fee, just has the possibility to choose the priority (and the matching pre-calculated fee).
It's high time to change the mobile wallet, I guess, as you all tell me that that fee was way too high for this amount...
I've understood that priority doesn't determine the fee, so I need a wallet where I can input a really low fee and send the transaction to an accelerator.

Your fee is just 159sat/byte, I say that is lower than the fees in the previous months where it the fee is above 200 sat/byte. It reached 0.0034 maybe because you have multiple dust inputs.

What wallet are you using?

[ahmedjamal1998]

Well that's pretty shady.
I often hear about those "scam" attacks on the bitcoin network but I just thought it was some kind of a theory.

But that type of sudden decrease in the mempool size makes totally no sense to me !
Looks like there is some real stuff going on. It's been 3 days and the no. of unconfirmed transactions is pretty much 8k which is great.

Hopefully this type of small amount transaction pressure stops forever.

[Meuh6879]

Your fee is just 159sat/byte, I say that is lower than the fees in the previous months where it the fee is above 200 sat/byte. It reached 0.0034 maybe because you have multiple dust inputs.

1) With Bitcoin Core, you can generate what fee you want.
https://bitcointalk.org/index.php?topic=1868604.0


2) New policy in Bitcoin Core (and so, on the whole Bitcoin Network) is : 1000 satoshi/kB for relaying.
https://bitcoincore.org/en/releases/0.14.0/

[DoomDumas]

Simple: Bitmain and Roger Ver have stopped spamming the network. If you look at the mempool graph it was clear it was just another attack by the big blockers to bitch and moan about high fees and confirmation times.

Just wait for the hardfork drums to start making noise again, they will turn their spam machines again to try to force support for their altcoin.

I totally agree..  Some folks are making a lot of noise, in hope to push some update to the protocol that may help them make more money, even if it can hurt badly Bitcoin.  Those just think about getting richer and dont care about the quality of the protocol.

Bitcoin is like HTTP, the low level code must be very solid and stay backward compatible..  Changes to low level code in a protocol must be made very carefully and stay very solid..  This is the fundation that make Bitcoin what it is..

Thanks to the core devs, they are very very professional and we all howe them a well working Bitcoin for all thoses years, keep up the great work..

[investinator]

Well that's pretty shady.
I often hear about those "scam" attacks on the bitcoin network but I just thought it was some kind of a theory.

But that type of sudden decrease in the mempool size makes totally no sense to me !
Looks like there is some real stuff going on. It's been 3 days and the no. of unconfirmed transactions is pretty much 8k which is great.

Hopefully this type of small amount transaction pressure stops forever.

Well if it wasn't a spam attack on the network it means bitcoin isn't as popular as we thought it was which would be a bad thing. I'd rather believe we are just having a temporary quiet period rather than think bitcoin was actually failing both to scale and to be popular.

[BillyBobZorton]

Well that's pretty shady.
I often hear about those "scam" attacks on the bitcoin network but I just thought it was some kind of a theory.

But that type of sudden decrease in the mempool size makes totally no sense to me !
Looks like there is some real stuff going on. It's been 3 days and the no. of unconfirmed transactions is pretty much 8k which is great.

Hopefully this type of small amount transaction pressure stops forever.

Just take a look at any mempool graph and you will see there huge peak that subsided right after the segwit2x crap and bitmain blog was posted. What a coincidence.

This seems so strange to me, and im trying to be partial and neutral but this points out to another spam attack to try to push the big blocker agenda forward and put the companies in a tricky situation where they would look bad if they don't accept the big block agenda given that the blocks are full. Now that they get the NYA, they stop spamming. Ridiculous manipulation of big blockers at play.

[Doms]

Is the network finally being decongested, hence resulting in faster confirmations or it just so happened that it was an off peak hour at the time you made your transaction? Whatever it was, I hope this is the start of faster confirmations and lower fees moving forward and let's keep our fingers crossed and hope that this will be the norm.

[GoodOne]

Is the network finally being decongested, hence resulting in faster confirmations or it just so happened that it was an off peak hour at the time you made your transaction? Whatever it was, I hope this is the start of faster confirmations and lower fees moving forward and let's keep our fingers crossed and hope that this will be the norm.

+1 "I hope this is the start of faster confirmations and lower fees moving forward and let's keep our fingers crossed and hope that this will be the norm"