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Author Topic: 173000 unconfirmed transactions, 13 transactions per second  (Read 4050 times)
blocklife
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November 22, 2017, 05:28:07 AM
 #61

Now it seems that it stabilized, the transaction quickly passed.


Yes right now at 28/s

and the tPool has also dropped massively!

The purpose of humanity : Genesis Chapter 1 (Rule)
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November 22, 2017, 11:49:18 AM
 #62

i dont know. and i think as time go on, transaction will increase slowly. cause many people, new member join this cryptocurrent everyday
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November 23, 2017, 03:46:27 AM
 #63

Ideally bitcoin should be able to process approximately 60+ transactions per second, but because of miners switching to BCH for bigger profit transactions gets slower. This would mean that bitcoin still needs a lot of work until it's ready for mass adoption.
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November 23, 2017, 05:44:37 AM
 #64

Ideally bitcoin should be able to process approximately 60+ transactions per second, but because of miners switching to BCH for bigger profit transactions gets slower. This would mean that bitcoin still needs a lot of work until it's ready for mass adoption.

Isn’t maximum about 7 transactions/second at the moment? Are you referring to full theoretical Segwit rate? Only about 10% of transactions are Segwit at the moment.

http://segwit.party/charts/

Average there have been 6.6 blocks/hour for last 7 days, so it is not a problem at the moment

https://fork.lol/blocks/time
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November 24, 2017, 07:18:23 AM
 #65

Mining difficulty will drop more than 25% in less than 24 hrs.

https://bitcoinwisdom.com/bitcoin/difficulty

The current backlog will be cleared fast after that.
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November 24, 2017, 10:01:19 AM
 #66

They are already, look at the Bitcoin Cash pump. But just like spamming the Bitcoin network is a futile and short lived strategy, the pump money on BCash is also short lived and futile. Sooner or later Roger Ver and whoever else is orchestrating this attack will run out of money and things will go back to normal, because there is no fucking way that out of nowhere all this transaction growth is organic and not part of an altcoin pump and dump scheme.

I think you're wrong. I know people that are noobies to crypto who are buying bcash because they think bitcoin is too expensive. It's easy to imagine that this is the case all over the world.
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November 24, 2017, 10:50:29 AM
 #67

Mining difficulty will drop more than 25% in less than 24 hrs.

https://bitcoinwisdom.com/bitcoin/difficulty

The current backlog will be cleared fast after that.

It's incredible that this horribly broken site is still believed. The difficulty is going to drop 1-2% only. See, https://fork.lol/pow/retarget, or https://btc.com/stats/diff, or https://cryptothis.com/diff/.
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November 24, 2017, 10:58:49 AM
 #68

Mining difficulty will drop more than 25% in less than 24 hrs.

https://bitcoinwisdom.com/bitcoin/difficulty

The current backlog will be cleared fast after that.

It's incredible that this horribly broken site is still believed. The difficulty is going to drop 1-2% only. See, https://fork.lol/pow/retarget, or https://btc.com/stats/diff, or https://cryptothis.com/diff/.

Thank you for this info.
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November 28, 2017, 01:11:24 PM
 #69

It seems, that btc demand is so high, that the current blockchain size can't clear the backlog. Hopefully Segwit takes off soon.

https://jochen-hoenicke.de/queue/#2w

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November 29, 2017, 06:44:33 AM
 #70

Average block size grows slowly

https://blockchain.info/charts/avg-block-size

I wish big service providers would implement Segwit..
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November 30, 2017, 07:47:53 AM
 #71

How can number of daily transactions grow, when blocks have been full for at least two weeks in a row?

https://btc.com/stats/block-size

https://blockchain.info/charts


Block size has not grown as much as daily transactions. How is there room for a transaction growth? There is of course demand, but how is there room?

Both blockchain info and btc.com show that there were 400 000 transactions during last 24 hrs.

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November 30, 2017, 08:08:12 AM
 #72

Average block size grows slowly

https://blockchain.info/charts/avg-block-size

I wish big service providers would implement Segwit..

It is coming, just be patient. Even only a few wallets are already segwit ready, so sites are probably working with wallet services to integrate the new improvements. Just because technology is available doesn't mean instant implementation. Everyone is new at this but slowly they will get there. Even the segwit transactions on the network are taking time to grow, but it is definitely growing.

But yes, can't wait for the sites I'm using to start segwit already so I can move over. Really looking forward to less fees and what not.

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Matias
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November 30, 2017, 04:14:09 PM
 #73

How can number of daily transactions grow, when blocks have been full for at least two weeks in a row?

https://btc.com/stats/block-size

https://blockchain.info/charts


Block size has not grown as much as daily transactions. How is there room for a transaction growth? There is of course demand, but how is there room?

Both blockchain info and btc.com show that there were 400 000 transactions during last 24 hrs.



Maybe  the explanation is simultaneous growth in block size and number of blocks/hour? Of course the latter will be fixed with difficulty adjustment.

https://fork.lol/blocks/time
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