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Author Topic: 134k unconfirmed transactions now. I'm starting to get really worried about this  (Read 5721 times)
vv181
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November 13, 2017, 05:25:05 PM
 #161

Yeah, we should be very concerned about that, So I wouldn't call it just a pump because there is major disagreement to which is the real bitcoin. The miners will decide its simple. no matter what is happening there is great manipulation and its done right and perfectly.

Miners aren't qualified to decide. All they should do is mine. They don't have the vision or the intelligence to make decisions for everyone else.


In my opinion, Bitcoin is so flawed since BCH was created. It allows the miners to flip flop between coins at any time, so it's the miners that set the pump and dumps.
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November 13, 2017, 05:26:41 PM
 #162

Why has this not been resolved yet?

On sunday there were talks of the bch difficulty going up which would turn the miners back to btc but i'm still seeing over 100k unconfirmed and high fee's all around. 4 days with this issue so far.

Is it ever going to improve?

Because Bitcoin is still under attack this isn't over, the upside is that every time they try and fail they get weaker.

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November 13, 2017, 05:27:39 PM
 #163

The clogged up mempool is NOT the only PROBLEM!

I just paid close to $40 fee to send some BTC.

WTF?!?!

How the hell can Bitcoin be used as a currency or for buying anything?

If I was to pay someone in another country, I'd rather mail a check in an envelope.

Dart18
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November 13, 2017, 05:31:07 PM
 #164

The clogged up mempool is NOT the only PROBLEM!

I just paid close to $40 fee to send some BTC.

WTF?!?!

How the hell can Bitcoin be used as a currency or commerce?

That is why you are paying much because of the damn traffic.
As long as you will pay more you will be the priority.
Pfft and you just knew tht now?.
I am not worried until now. This things already happened before.
 Are all who comments hdre are newvbies?

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FrueGreads
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November 13, 2017, 05:35:12 PM
 #165

Yeah, we should be very concerned about that, So I wouldn't call it just a pump because there is major disagreement to which is the real bitcoin. The miners will decide its simple. no matter what is happening there is great manipulation and its done right and perfectly.

Miners aren't qualified to decide. All they should do is mine. They don't have the vision or the intelligence to make decisions for everyone else.

I wouldn't say that miners lack the vision or intelligence to make decisions. I would just say that it's not just up to them, so they can't really decide anything alone. Yes right now they are swapping to BCH because it's more profitable to mine it, but if we prefer bitcoin, and don't sell our coins, BTC will still be more valuable, and as the difficulty adjusts, it will again be more profitable to mine BTC instead of BCH, and miners will switch back to BTC.

It's a business for them, and they are in it for the profit, I totally get it, but in the end they can't really decide anything. The market is ruled by supply and demand, so if the demand is still bitcoin, they will switch back to the most profitable coin to mine.

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November 13, 2017, 05:42:03 PM
 #166

The clogged up mempool is NOT the only PROBLEM!

I just paid close to $40 fee to send some BTC.

WTF?!?!

How the hell can Bitcoin be used as a currency or commerce?

That is why you are paying much because of the damn traffic.
As long as you will pay more you will be the priority.
Pfft and you just knew tht now?.
I am not worried until now. This things already happened before.
 Are all who comments hdre are newvbies?

Are you saying that Bitcoin is going to become less popular because traffic is going to down?  What happens when Bitcoin becomes more popular?  Will I pay $80 fees to get my BTC sent in a fast time?

Here's the latest block mined:  https://blockchain.info/block/0000000000000000000df6d1c8c0ddd830af3e56d53d03dee729196f57ae7397

Transactions Fees:  2,691.49305778 BTC

Number of Transactions:  2159

Average fee per transaction:  0.001755369 BTC

If BTC = $6,500, then average fee is $11.41.

A paper check in an envelope is cheaper.

cryptodickhole
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November 13, 2017, 06:01:51 PM
 #167

The tps rate has recovered slightly, miners are slowly moving back to btc as bch mining pools get more flooded and less profitable.
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November 13, 2017, 06:02:26 PM
 #168

In general there is a play going on to make the bitcoin disreputable and BCC strong versus bitcoin. On the other hand this makes me uncomfortable I am so there is so many of you around like me.
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November 13, 2017, 06:05:18 PM
 #169

Anyone have the latest count on unconfirmed transactions?

It's about a 100,000 and it's come down a lot. See the following graph:

https://jochen-hoenicke.de/queue/#24h

Note that at 7 p.m. GMT BCH does it's consensus hardfork to adjust it's difficulty adjustment. Their difficulty should drop which should see some miners switch back to them.

Frank0209
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November 13, 2017, 06:06:11 PM
 #170

LOL. Maybe this is the main reason of Bitcoin price dump a lot. This case is the result of high mining difficulty of Bitcoin, because of the difficulty is too high, a lot of miners have changed to mine another cryptocurrency with lower difficulty, it made the number of block founded decreased and the number of stuck transaction increased. But for now I think people are finding the way to solve this problem that why the price of Bitcoin is rising back again.
cl37007
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November 13, 2017, 06:11:17 PM
 #171

This is a very worrying state of affairs as it proves to some degree that this 'decentralized' currency is not fully decentralized if a few people can manipulate the system like this so easily. Makes me concerned for the future of BTC.

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burnedbyfees
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November 13, 2017, 06:12:19 PM
 #172

Along with Bitcoin spam transactions they're also trying to make emergency adjustments to BCH mining difficulty while they pump BCH price. They also have "BCH much wow" sockpuppets roaming the web talking up to coincide with pump movements.

It's not something that's sustainable, they can only do it in burst and each burst gets more pathetic as the cryptocommunity wises up and tells them to fuck off.

Transactions will clear when they've burnt through too much money and give up, there's also only so long collaborators like Shapeshift can justify putting a hold on Bitcoin transactions.

Take note of what all of these people are doing now, remember who betrayed and tried to manipulate you when the dust settles.

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November 13, 2017, 06:16:28 PM
 #173

People panicking isn't going to help the issue when they try taking their bitcoin out and putting it into something else. If I was mining bitcoin I probably would switch to bitcoin cash if it was more profitable.

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November 13, 2017, 06:17:09 PM
 #174

In all essence... this might be the game within the game? If the miners see every user is paying $10.00+ per every transaction.... someone is getting rich off of this. So why change it? This entire thing for a week smells like a test and setup.
gentlemand
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November 13, 2017, 06:17:51 PM
 #175

I wouldn't say that miners lack the vision or intelligence to make decisions. I would just say that it's not just up to them, so they can't really decide anything alone.

Well, plenty of them do feel that they can decide for everyone else and that's what they've been trying to repeatedly. I do not believe that one small subsection should have the power that they do.

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November 13, 2017, 06:22:51 PM
 #176

146k  and trend is going up again

At the same time also it doesn't seem that miners have switched  from btc  to bch (at least for the last hours) as it was the case yesterday



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November 13, 2017, 06:23:29 PM
 #177

It went to almost 200K and is now down to around 115,000. Even at this level, the fees is unsustainable. And do you know the worst thing about this whole episode? We can't blame the miners for this. It is not their fault. See this:

https://blockchain.info/blocks

All of them are making use of the 1 MB block size limit.

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November 13, 2017, 06:24:45 PM
 #178

Bitcoin is frequently attacked with spam transactions in order to create a bottle neck in the block chain and push people into panic mode.

No need to panic. Bitcoin is A Ok.
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November 13, 2017, 06:25:50 PM
 #179


I think because miners are temporarily pumping BCH, another bitcoin drama. I'm not sure if everything is back to normal now since bitcoin price is starting to recover again and BCH is getting dumped again. I hope that transactions would go faster now, because a lot of people are worrying about their bitcoin transactions.

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November 13, 2017, 06:26:13 PM
 #180

Hilarious OP, has no one stumbled across that page before, you know, the mempool one - it's fine, once this gets to a certain level, the BTC masternode comes in and hoovers up all the transactions, and fees  Wink

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