What's real use of segwit activation?

[ekoice]

Dear all
         Yesterday i sent 0.036 BTC from my electrum wallet to my localbitcoins account.Electrum wallet showed me automatically a fee of 0.0003 BTC.I adjusted it to 0.0005 BTC.Already 24 hours gone,still transaction was not confirmed.Some times,it shows 84 hrs to get confirmed,then 6 hrs,then again 84hrs then again 20 minutes,then again 84 hrs.I clearly understand that the miners are not showing any interest in confirming my transaction.Now today,i sent another 0.0112 BTC again with a transaction fee of 0.0003BTC.Four hours gone,still showing 84 hrs for confirmation.I am in desperate need of money now.Now,i just have a question that what's the use of activating segwit and increasing block size then?So,what i understand is that miners think "You all do whatever you wish,activate segwit or not,we are the only authorised people to decide what the transaction fee should be"
I think i have catched their mind voice correctly.Just i want to know what you all people think about this? Is segwit activation then just an eye wash?

[ekoice]

If i'm terribly wrong,please explain.

[CryptoBry]

Dear all
         Yesterday i sent 0.036 BTC from my electrum wallet to my localbitcoins account.Electrum wallet showed me automatically a fee of 0.0003 BTC.I adjusted it to 0.0005 BTC.Already 24 hours gone,still transaction was not confirmed.Some times,it shows 84 hrs to get confirmed,then 6 hrs,then again 84hrs then again 20 minutes,then again 84 hrs.I clearly understand that the miners are not showing any interest in confirming my transaction.Now today,i sent another 0.0112 BTC again with a transaction fee of 0.0003BTC.Four hours gone,still showing 84 hrs for confirmation.I am in desperate need of money now.Now,i just have a question that what's the use of activating segwit and increasing block size then?So,what i understand is that miners think "You all do whatever you wish,activate segwit or not,we are the only authorised people to decide what the transaction fee should be"
I think i have catched their mind voice correctly.Just i want to know what you all people think about this? Is segwit activation then just an eye wash?

I am not a technical guy in fact i could only spell SegWit but have not yet fathomed what it really means...but i understand that SegWit could partially help in making the transactions faster and at a lower cost. But there are also some who are saying that the SegWit we just witnessed may not really be enough so we have to the next phase which can happen in November.

As for me, here in my side of the world, I have never encounter such a long delay in relaying Bitcoin even if they can just be small in value. I don't know if we are just lucky or what. I am hoping that soon your situation will not happen to many people as this can partly discourage Bitcoin holders and would not encourage many people to also adopt Bitcoin.

[buwaytress]

Not sure how much satoshi/byte your eventually paid as you didn't clarify but it sounds like you paid a flat fee. With Electrum, I recommend unchecking the manual and dynamic fee boxes and then entering your own static fee adjusted to the current network situation and/or your needs. For example, yesterday I still had a 60+ satoshi per byte fee that bitcoinfees.21.co estimated would confirm in 20 hours. It was fine for me as it wasn't an urgent tx. Turned out to be pretty accurate (as it usually is for me) and confirmed a few hours ago.

Also the estimate for Localbitcoins is just an estimate. Bitcoinfees.21.co is a lot more accurate. You can post your txs here and I'll see if they can be accelerated.

On Segwit: we are not quite there yet. It is still in the lock-in period, and activates about a week from now when full nodes will begin validating SW txs.
On Blocksize increase: that's Bitcoin Cash for now.

[Beerwizzard]

As  I know SegWit is not fully launched yet.
Have you tride to use any accelerator? Seems like your fee will be accepted for acceleration. It won't confirm your transaction instantly but it will help if it is stuck.

[Merovius]

From what I have read elsewhere, SegWit is supposed to be at least a partial solution to the problem of the bitcoin network not being able to handle a greater number of transactions per second as we move toward mass adoption. I am not sure exactly what effect it could have on the transaction fees, however. Perhaps someone who is more familiar with the technical aspects of this can explain.

[olubams]

Dear all
         Yesterday i sent 0.036 BTC from my electrum wallet to my localbitcoins account.Electrum wallet showed me automatically a fee of 0.0003 BTC.I adjusted it to 0.0005 BTC.Already 24 hours gone,still transaction was not confirmed.Some times,it shows 84 hrs to get confirmed,then 6 hrs,then again 84hrs then again 20 minutes,then again 84 hrs.I clearly understand that the miners are not showing any interest in confirming my transaction.Now today,i sent another 0.0112 BTC again with a transaction fee of 0.0003BTC.Four hours gone,still showing 84 hrs for confirmation.I am in desperate need of money now.Now,i just have a question that what's the use oPre-activating segwit and increasing block size then?So,what i understand is that miners think "You all do whatever you wish,activate segwit or not,we are the only authorised people to decide what the transaction fee should be"
I think i have catched their mind voice correctly.Just i want to know what you all people think about this? Is segwit activation then just an eye wash?

Thank you for coming up with this because I mself have been asking the same question if there would be any difference to fees. Although, I cannot convert it accurately in dollar equivalent but if it has reduced from the one being paid during the Pre-August 1 era, then its better of otherwise, the August 1 issue is just another of those noises. But at the same time, based on understanding, August 1 should increase the block size which should then reduce the fees but let's still hope SegWit will live up to the expectations of many of us.

[krishnapramod]

Dear all
         Yesterday i sent 0.036 BTC from my electrum wallet to my localbitcoins account.Electrum wallet showed me automatically a fee of 0.0003 BTC.I adjusted it to 0.0005 BTC.Already 24 hours gone,still transaction was not confirmed.Some times,it shows 84 hrs to get confirmed,then 6 hrs,then again 84hrs then again 20 minutes,then again 84 hrs.I clearly understand that the miners are not showing any interest in confirming my transaction.Now today,i sent another 0.0112 BTC again with a transaction fee of 0.0003BTC.Four hours gone,still showing 84 hrs for confirmation.I am in desperate need of money now.Now,i just have a question that what's the use of activating segwit and increasing block size then?So,what i understand is that miners think "You all do whatever you wish,activate segwit or not,we are the only authorised people to decide what the transaction fee should be"
I think i have catched their mind voice correctly.Just i want to know what you all people think about this? Is segwit activation then just an eye wash?

Segwit isn't activated yet. Once activated you can opt for Segwit transactions. With Segwit more transactions can be accommodated in a block and the transaction size also gets smaller so quicker transactions and a slightly lower fee. Segwit does solve the scalability issue to an extent, but isn't the ultimate solution. Segwit opens the door for other scalability solutions and one of them is LN.

Some miners will spam and try to manipulate fee. With on chain transactions miners control the fee, but with LN, off chain transactions gives users the choice to have instant transactions at a very small fee.

Segwit will get activated next week and other implementations would be integrated soon.

[Yuhee]

Dear all
         Yesterday i sent 0.036 BTC from my electrum wallet to my localbitcoins account.Electrum wallet showed me automatically a fee of 0.0003 BTC.I adjusted it to 0.0005 BTC.Already 24 hours gone,still transaction was not confirmed.Some times,it shows 84 hrs to get confirmed,then 6 hrs,then again 84hrs then again 20 minutes,then again 84 hrs.I clearly understand that the miners are not showing any interest in confirming my transaction.Now today,i sent another 0.0112 BTC again with a transaction fee of 0.0003BTC.Four hours gone,still showing 84 hrs for confirmation.I am in desperate need of money now.Now,i just have a question that what's the use of activating segwit and increasing block size then?So,what i understand is that miners think "You all do whatever you wish,activate segwit or not,we are the only authorised people to decide what the transaction fee should be"
I think i have catched their mind voice correctly.Just i want to know what you all people think about this? Is segwit activation then just an eye wash?

Segwit isn't activated yet. Once activated you can opt for Segwit transactions. With Segwit more transactions can be accommodated in a block and the transaction size also gets smaller so quicker transactions and a slightly lower fee. Segwit does solve the scalability issue to an extent, but isn't the ultimate solution. Segwit opens the door for other scalability solutions and one of them is LN.

Some miners will spam and try to manipulate fee. With on chain transactions miners control the fee, but with LN, off chain transactions gives users the choice to have instant transactions at a very small fee.

Segwit will get activated next week and other implementations would be integrated soon.

Well technically the money you are transfering is just a small number to the priorities of the miners on how much they would confirm. I see that he said needs money but i think the minimum fee is .001. With that fee you could expect longer transaction. Because i transfered .006 to a site and it just took 30 minutes and i risked .001 payment. So i guess try and that minimal fee if you want faster transaction.

[DoublerHunter]

The real use of segwit activation for me is to incrase the block size so it can accept more transaction and it can lessen the stuck transaction because the room for transactions will become bigger. Segwit activation also helps for a faster transaction and it is a huge help for the future because we already expected a lot of demand in the future so the early segwit activation will help bitcoin to cope all of the possible demand in the future.

[BillyBobZorton]

Dear all
         Yesterday i sent 0.036 BTC from my electrum wallet to my localbitcoins account.Electrum wallet showed me automatically a fee of 0.0003 BTC.I adjusted it to 0.0005 BTC.Already 24 hours gone,still transaction was not confirmed.Some times,it shows 84 hrs to get confirmed,then 6 hrs,then again 84hrs then again 20 minutes,then again 84 hrs.I clearly understand that the miners are not showing any interest in confirming my transaction.Now today,i sent another 0.0112 BTC again with a transaction fee of 0.0003BTC.Four hours gone,still showing 84 hrs for confirmation.I am in desperate need of money now.Now,i just have a question that what's the use of activating segwit and increasing block size then?So,what i understand is that miners think "You all do whatever you wish,activate segwit or not,we are the only authorised people to decide what the transaction fee should be"
I think i have catched their mind voice correctly.Just i want to know what you all people think about this? Is segwit activation then just an eye wash?

Segwit isn't activated yet. Once activated you can opt for Segwit transactions. With Segwit more transactions can be accommodated in a block and the transaction size also gets smaller so quicker transactions and a slightly lower fee. Segwit does solve the scalability issue to an extent, but isn't the ultimate solution. Segwit opens the door for other scalability solutions and one of them is LN.

Some miners will spam and try to manipulate fee. With on chain transactions miners control the fee, but with LN, off chain transactions gives users the choice to have instant transactions at a very small fee.

Segwit will get activated next week and other implementations would be integrated soon.

You can bet money on spam attacks happening again around next month or october. They probably did this Bitcoin Cash thing to scam every fool that believes in big blocks, and then with this extra money that they scammed, they will use it to spam the BTC chain again in order to push the segwit2x scam. They go from scam to scam to keep funding the next spam attack.

Hopefully nobody loses their real BTC for segwit2xCoin again.

[ekoice]

Dear all
         Yesterday i sent 0.036 BTC from my electrum wallet to my localbitcoins account.Electrum wallet showed me automatically a fee of 0.0003 BTC.I adjusted it to 0.0005 BTC.Already 24 hours gone,still transaction was not confirmed.Some times,it shows 84 hrs to get confirmed,then 6 hrs,then again 84hrs then again 20 minutes,then again 84 hrs.I clearly understand that the miners are not showing any interest in confirming my transaction.Now today,i sent another 0.0112 BTC again with a transaction fee of 0.0003BTC.Four hours gone,still showing 84 hrs for confirmation.I am in desperate need of money now.Now,i just have a question that what's the use of activating segwit and increasing block size then?So,what i understand is that miners think "You all do whatever you wish,activate segwit or not,we are the only authorised people to decide what the transaction fee should be"
I think i have catched their mind voice correctly.Just i want to know what you all people think about this? Is segwit activation then just an eye wash?

Hi i have tried viabtc accelerator and it shows the message submissions are beyond limits.please try later.So i'm posting my tx id below.If any one helps to get my transaction accelerated by any means,it would be a great help for me.thanks in advance.Here is my tx id

d02943e7417c509296f279f995eb4311e1bca5310a6e06769a705b07b108614c

[ekoice]

Finally,my transaction has got confirmed.Thanks to all for the reply and especially to buwaytress,who sent it to accelerator for confirmation.

[xskl0]

These fees are not acceptable. Switch to Bitcoin Cash

[Kronos21]

Probably it was a problem for a company that maintains the ATMs. Yesterday and this morning I was sending bitcoins without any problems and at the lowest rate per transaction payment came within 15 minutes.

[d1ceplayer]

Segwit has gotten activated! I thought it was to be activated in September. And now a day, more people are using Bitcoins, so may that’s the reason why the confirmation is taking this much time. Also, I do not think so that miners want to show their power or ignoring the transactions due to such reasons. Be a little more patient.