Confirmation became really fast, what has happened?

[Quietman]

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...)

This is quite an improvement with bitcoin. Maybe the fees have something to do with it too. That's a huge fee I guess for 0.05BTC. If you are going to convert it into cash. Let's wait on what will happen until August come. Hoping for the better for bitcoin.

[niisarearning]

Even i felt the same i got some transaction got confirmed its about 5k sathoshi it is very small amount but it is also got confirmed very quickly .But last 2 months my micro transaction taking days or cancelling payment now its really quick.

[ImHash]

Just less than 3 month ago we were paying 120 sats/b and still we used to complain about how high the fees were, I'd say Wu succeeded in his plans, I only blame him because Antpool is the largest of all the pools, so whatever happens I blame them. they have made people to be surprised when their transaction gets confirmed after paying more than 120 sats/b.

[DoublerHunter]

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.

[Prodigan786]

It's because of spammers stops spamming like bitmain and others for increasing the transaction fees . It will be more regulated after august first am waiting day to see the huge changes

[stompix]

It's because of spammers stops spamming like bitmain and others for increasing the transaction fees . It will be more regulated after august first am waiting day to see the huge changes

Regulated? What will happen on August the 1st? We will elect the goverment of Bitcoin?

I don't buy the spam attack scenario.
The number of transactions died in  the mempool but I would really want to see graph showing the average number of inputs and outputs per block in the last month.
A lot of services changed their behavior, not sending individual payments anymore and saving a lot of space in the blocks.
And a lot of users simply stopped sending tx. There was no point anymore sending 10$ worth when you pay 2$ fee.
So they just waited for the sum to grow bigger and do 1 instead of 4.

[Sniper150]

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.

[Lucius]

I was sending some BTC in last few weeks and I must say that some transaction were very quickly confirmed,although I used very small fee and then push them with ViaBTC.But some of them are confirmed in just few minutes without intervention of ViaBTC.When you send 0.3+ BTC with only 0.40$ fee and that transaction is confirmed in less then 5 minutes you have to be surprised

Just as some assume maybe spam attack is stop or slow down,but fee is always depends on how much network is congested so sometimes confirmations are faster than usual.If you need transaction confirmed quick than just pay proper fee,or try your luck like me

[Netnox]

Looks like the number of transactions have gone down. And look at the block 474015, which was mined by BTC.TOP. They have included all the transactions which paid a fee of greater than 0.524 sat/Byte. They might have included zero fee transactions also, but the size ran out.

[bamboylee]

If you have not mentioned it, I would not have noticed it. The number of unconfirmed transactions have gone way down. It is now only less than 10K. That could have contributed to faster transaction. The fee should be lesser too.

[iqlimasyadiqa]

The fact is that the current transactions are running very slowly. You use a fee above normal so you can get a very fast transaction.
Some people complain about this, they get a very long bitcoin delivery time.

[Netnox]

Another block was mined by BTC.TOP (474024) a few minutes back, and they included some transactions with tx fee of less than 0.5 Sat / Byte. But still the other mining pools such as AntPool and BTC.com are refraining from doing the same. It is quite possible that at least some of the zero-fee transactions will get cleared today.

[Juggy777]

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...)

Luck and timing I believe would be the answer to your question. Luck cause when you did there may not be that many transactions, and that's why it happened. Timing I think played a major role in your transaction happening, and that's why it was easier. But anyway I think you should be happy, and relating it to the august 1st is too early.

[Meuh6879]

Done : It's empty.



And blocks loose weight, now : https://insight.bitpay.com/blocks

---

Be carefull with fees : relay policies are always online ... since 0.14.x version of Bitcoin Core.
https://bitcoincore.org/en/releases/0.14.0/

Minimum Fee Rate Policies

Since the changes in 0.12 to automatically limit the size of the mempool and improve the performance of block creation in mining code it has not been important for relay nodes or miners to set -minrelaytxfee. With this release the following concepts that were tied to this option have been separated out: - incremental relay fee used for calculating BIP 125 replacement and mempool limiting. (1000 satoshis/kB) - calculation of threshold for a dust output. (effectively 3 * 1000 satoshis/kB) - minimum fee rate of a package of transactions to be included in a block created by the mining code. If miners wish to set this minimum they can use the new -blockmintxfee option. (defaults to 1000 satoshis/kB)

The -minrelaytxfee option continues to exist but is recommended to be left unset.

[Adbitco]

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.

[stompix]

Another block was mined by BTC.TOP (474024) a few minutes back, and they included some transactions with tx fee of less than 0.5 Sat / Byte. But still the other mining pools such as AntPool and BTC.com are refraining from doing the same. It is quite possible that at least some of the zero-fee transactions will get cleared today.

This morning was also a bit lucky..
At 11 we had more than 10 blocks and 9 one hour before.
There is also a huge spike in the hashrate so we might consider than until the next adjustment we might get up to 10% more blocks.

[Polar91]

With that matter, it is a good news because it seems that they have already think of an effective way to process confirmations on time. Maybe they have created solutions to prevent congestions in the mempool so that processing won't take longer time anymore. Now people will not get into their nerves waiting for the very long process. It is a great news to spread to fellow users that have short patience in waiting for long confirmation period.

[deisik]

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

But what made them switch the bots off?

It kinda looks they might be preparing something really nefarious and nasty, even nastier than what we have seen so far. What is the logic behind their current actions? As to me, it would make sense to put more pressure on the network as the Judgment day draws nearer. But obviously, it is not that simple, and they may be up to something frightful. I will never believe that they have changed their mind, all of a sudden, so what could we expect next?

The funds that were used to spam the network are now being used to organize events and to pay developers to work on the new "solution" or the funds simply ran out

If it were miners behind these waves of spam, they wouldn't be paying anything

[Amph]

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

But what made them switch the bots off?

It kinda looks they might be preparing something really nefarious and nasty, even nastier than what we have seen so far. What is the logic behind their current actions? As to me, it would make sense to put more pressure on the network as the Judgment day draws nearer. But obviously, it is not that simple, and they may be up to something frightful. I will never believe that they have changed their mind, all of a sudden, so what could we expect next?

The funds that were used to spam the network are now being used to organize events and to pay developers to work on the new "solution" or the funds simply ran out

If it were miners behind these waves of spam, they wouldn't be paying anything

the theory that say that behind the spam there is a chance that miners are making it, make sense , because by spamming they force users to pay higher fee to have their TX prioritized over the spam

basically miners are paying for the fee increased, they invest in the spam to have higher fee and roi on their same spamming....this may sound awkward, but it could make sense

[Krimster]

Mempool is not overcrowded with transactions, meaning almost every transaction can get cobfirmed within the next block or so. It seems like they have stopped their spamming efforts to shove bigger blocks into our asses. Seems fair enough and great for everybody, I guess.

It SEEMS fair enough and great, but I, for one, am shitless scared about the whole thing. It seems very strange that they have suddenly stopped spamming the net. More to the point, the fact that the spamming has stopped in such a coordinate manner speaks very ill about the situation...