The OFFICIAL SegWit Activation Thread

[btc_n00b]

BTW.
Blockchain.info has column "Weight (kWU)".
Also, in transactions: (Fee: 0.00001905 BTC - 1.28 sat/WU - 5.12 sat/B - Size: 372 bytes) 2017-08-25 14:57:27
Anybody knows what does it mean?  
Suppose that it is related to segwit, but can't google it because too few letters for search  

[2double0]

Blockchain used to address everyone through their recommended fee that how much should be the regular fee and how much should be the priority one. I am having a transaction stuck since 4 days now, here it is:
https://blockchain.info/tx/244d914d1c153921a58dad947bd55766d478128b4fb4229583b7bf46545f80a1

I chose to go with regular fee as I saw many transactions being confirmed with even 4-5k sats in fees, so decided to send 11k in fee which is double than that. I know I didn't choose the priority one due to which this transaction is stuck atm, but could anyone help me out with this?

Is SegWit activation the reason why my transaction (seems to) have been sent in the backlog? I have tried ViaBTC's accelerator and they are just giving the same result: "Submissions are beyond limits. Please try later." If there's any miner here, could they please pick this transaction and have it confirmed through their own voluntary choice?

And everyone, congratulations to have SegWit onboard now.

I just accelerated your transaction after you message me your transaction ID as a request earlier and now your long wait is done since it's confirmed already by antpool, and get 1 confirmation.
And a friendly reminder always makes sure you set the transaction fee as a priority when using blockchain wallet if this huge spam attacks still continue it will cause you trouble.

Hey, thanks a lot for all your help dear, I got it cleared as well as the person I sold them to, is extremely happy due to this.
Just want to ask that as mempool's backlog is filling with too many transactions which were sent with low fees, will miners ever take a chance on clearing these non-SegWit transactions if they switch to SegWit transactions or will there be a monopoly and noobs will suffer?

[alyssa85]

I do not see any big improvements yet but the unconfirmed transactions in the mempool is growing smaller and smaller. Let us see if the small increase in transactions per block would help get those transactions faster.

The BitcoinCash people are proud that it took only 3 blocks to confirm all 37,000 transactions in their mempool.

There are over 70K unconfirmed transactions right now (https://blockchain.info/unconfirmed-transactions) and it's keep growing up rather than diminishing. I am not sure when wallet devs launch the update for segwit as I can't find any information about it unless trezor wallet statement. Anyone here using electrum wallet and already heard about new update? Current fees still inconvenient and all we have to do is waiting.

It's over 91k unconfirmed transactions. And remember, the default mempool size is 300mb (https://github.com/bitcoin/bitcoin/blob/master/src/policy/policy.h#L32), so once that gets filled too, people will have to rebroadcast their transactions.

[UsernameBitcoin]

Where is the party at? lol 

[Adriano2010]

How help SegWit bitcoin confirm faster? I have a bitcoin tx with 50.27sat/WU -201.08 sat/B - 372 Bytes and still unconfirmed after  6 blocks mined.  Why?

[Savik]

Guys, I'm really not the most technically savvy person in the room, but when does the mempool buildup and increasing transaction fees really become a serious problem? Is there an end in sight for this escalation? I don't want to see some sort of black swan event where BTC implodes, but to the uneducated noob cryptocurrency follower it doesn't look good.

[Minecache]

Guys, I'm really not the most technically savvy person in the room, but when does the mempool buildup and increasing transaction fees really become a serious problem? Is there an end in sight for this escalation? I don't want to see some sort of black swan event where BTC implodes, but to the uneducated noob cryptocurrency follower it doesn't look good.

If you'd been here for a few years now you'd know that we've been here before and that you need to calm the fuck down. The differenc now is that we have SegWit activated and can expect the LN protocol to soon be built into Bitcoin. If you know anything about software development you know that this shit takes time to code, test and implement. There is nothing to be worried about apart from the BCH shills. 

[btc_n00b]

Can somebody answer these questions:
Are Segwit transactions NOW faster?
Do we have two queues: segwit and nonsegwit transactions?
How miners choose what transaction to include in block: segwit or nonsegwit?

I can generate segwit addresses via bitcoind RPC calls, but for this I need to generate 1x address and convert it to new 3x address.
I just don't want to do this work if confirmation speed will not improve.

Thx.

[Kaller]

Can somebody answer these questions:
Are Segwit transactions NOW faster?
Do we have two queues: segwit and nonsegwit transactions?
How miners choose what transaction to include in block: segwit or nonsegwit?

I can generate segwit addresses via bitcoind RPC calls, but for this I need to generate 1x address and convert it to new 3x address.
I just don't want to do this work if confirmation speed will not improve.

Thx.

Segwit does not so much but lower the blocksize which allows about 30% more transactions then before. What it does is allow for Lightning Network and this is the main purpose, which will come soon.

[bitcoinmaniac52]

Now that SegWit is activated there is room for a transparent, decentralized Lightning Network. I can't wait until it gets introduced and we have nearly free, instant transactions for anything!

[craZyLovE0916]

I think this thread is going to become very, very big because SegWit is a huge milestone in the history of Bitcoin, really, this month is a big leap forward for crypto in general and we should all be proud.

[btc_n00b]

I think this thread is going to become very, very big because SegWit is a huge milestone in the history of Bitcoin, really, this month is a big leap forward for crypto in general and we should all be proud.

SegWit is a huge milestone... as huge as mempool size =)

[revswim93]

I cant wait for LN to be up and running. Really excited.

[mirx]

I cant wait for LN to be up and running. Really excited.

Its already up and running in Litecoin. For several months already.

[yugyug]

in my own point of view benefits of activating segwit is that it can lessen the network load of blockchain due to segregated transaction signature and i guess this will be implemented on a side chain so that block size is not affected and there is an opportunity of Lightning Network to came in to lessen transaction delays and transaction fees because this is the main concern of the existing problem of the current bitcoin system.

[nizamcc]

I think this thread is going to become very, very big because SegWit is a huge milestone in the history of Bitcoin, really, this month is a big leap forward for crypto in general and we should all be proud.

Yes, it will become really huge with a lot of questions from those who had been stuck due to those spam attacks as well as the lower fee that they used to try to confirm their transactions but they couldn't. I am still seeing the current number of unconfirmed transactions increasing only and there should be something major to be done as I have seen just one mining group which mined the first SegWit block, so a question arose in my mind that why the other miners are unable to? Do they need to adapt the new technology or need to implement or change something?

[TagaMungkahi]

Dear, does segwit make any changes? It seems the fee is huge. I need to pay transaction fee .0007 BTC in order to send 0.001.Why transaction fee become so high after Segwit

this is a temporary situation that has many reasons. the spam attack, the drop in hashrate for about 2 days, increase in number of transactions because bitcoin price was rising fast,...
and eventually this will be solved and fees will come down. even without SegWit.
with SegWit things will be a little better too and eventually if LN can take some of them transactions away from the main chain (like the gambling sites or exchanges,...) it can help with the fee situation.

Agreed with this, there is a lot of upcoming upgrades that needs to take place, as for me , i will wait till the transaction fees will come down, i know that this is temporary and developers will not let transaction fees to stay in that particular range.

[illyiller]

Dear, does segwit make any changes? It seems the fee is huge. I need to pay transaction fee .0007 BTC in order to send 0.001.Why transaction fee become so high after Segwit

this is a temporary situation that has many reasons. the spam attack, the drop in hashrate for about 2 days, increase in number of transactions because bitcoin price was rising fast,...
and eventually this will be solved and fees will come down. even without SegWit.
with SegWit things will be a little better too and eventually if LN can take some of them transactions away from the main chain (like the gambling sites or exchanges,...) it can help with the fee situation.

Agreed with this, there is a lot of upcoming upgrades that needs to take place, as for me , i will wait till the transaction fees will come down, i know that this is temporary and developers will not let transaction fees to stay in that particular range.

Fees might come down in the short term as the ecosystem transitions to Segwit, and also when signature aggregation and LN come into play. But in the long term, I think that most Bitcoin developers actually want to see fees increase. Core has done an incredible job implementing optimizations to keep the network running under increased load.

By and large, the point is to fit more transactions in less space. But that doesn't necessarily mean lower fees; if adoption is happening, then demand for confirmations might still outweigh the ability to increase capacity without sacrificing decentralization.

[TagaMungkahi]

Dear, does segwit make any changes? It seems the fee is huge. I need to pay transaction fee .0007 BTC in order to send 0.001.Why transaction fee become so high after Segwit

this is a temporary situation that has many reasons. the spam attack, the drop in hashrate for about 2 days, increase in number of transactions because bitcoin price was rising fast,...
and eventually this will be solved and fees will come down. even without SegWit.
with SegWit things will be a little better too and eventually if LN can take some of them transactions away from the main chain (like the gambling sites or exchanges,...) it can help with the fee situation.

Agreed with this, there is a lot of upcoming upgrades that needs to take place, as for me , i will wait till the transaction fees will come down, i know that this is temporary and developers will not let transaction fees to stay in that particular range.

Fees might come down in the short term as the ecosystem transitions to Segwit, and also when signature aggregation and LN come into play. But in the long term, I think that most Bitcoin developers actually want to see fees increase. Core has done an incredible job implementing optimizations to keep the network running under increased load.

By and large, the point is to fit more transactions in less space. But that doesn't necessarily mean lower fees; if adoption is happening, then demand for confirmations might still outweigh the ability to increase capacity without sacrificing decentralization.

I understand it, but the main problem here is the slower transaction speed and the transaction fees, with this existing problems that bitcoin developers  currently solving and bitcoin-enthusiast/bitcoin users currently main concern, bitcoin might die because of unresolved concerns, I might be wrong but if casual users cannot pay a high transaction fee, then bitcoin will not be globally acceptable, enough to make bitcoins die. This is only my opinion.

[illyiller]

Fees might come down in the short term as the ecosystem transitions to Segwit, and also when signature aggregation and LN come into play. But in the long term, I think that most Bitcoin developers actually want to see fees increase. Core has done an incredible job implementing optimizations to keep the network running under increased load.

By and large, the point is to fit more transactions in less space. But that doesn't necessarily mean lower fees; if adoption is happening, then demand for confirmations might still outweigh the ability to increase capacity without sacrificing decentralization.

I understand it, but the main problem here is the slower transaction speed and the transaction fees, with this existing problems that bitcoin developers  currently solving and bitcoin-enthusiast/bitcoin users currently main concern, bitcoin might die because of unresolved concerns, I might be wrong but if casual users cannot pay a high transaction fee, then bitcoin will not be globally acceptable, enough to make bitcoins die. This is only my opinion.

Since you bring up Bitcoin dying, let me introduce you to the Bitcoin Obituaries: https://99bitcoins.com/bitcoinobituaries/

People have been saying that rising transaction fees will kill Bitcoin for 2+ years now. Over that time, Bitcoin's price has risen 15-20x. Clearly, there is significant demand for Bitcoin usage regardless of whether the fees are rising. Could fees reach a point where it could threaten adoption? Sure, in theory. But for now, the market is telling us otherwise.

I really wouldn't worry about it too much. Batch your payments to minimize fees, and learn to hold your bitcoins for the long term.