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Author Topic: I payed $20 for a BTC transaction 2 hours ago, still 0 confirmations  (Read 970 times)
SMB-2525
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November 12, 2017, 09:58:06 PM
 #21

The hash rate has fallen by 50% because miners moved to BCH
https://blockchain.info/charts/hash-rate?timespan=30days
Some commentary on the the underlying scaling problem.
https://cointelegraph.com/news/lightning-must-strike-soon-bitcoin-facing-backlogs-as-scalability-solution-awaited

There will be a huge decrease in hashing difficulty for bitcoin on November 17. That will increase the efficiency of the remaining miners and fees will drop and the backlog will clear.

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November 12, 2017, 09:59:28 PM
 #22

I think in no time it should be resolved since it's a general issue
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November 12, 2017, 09:59:58 PM
 #23

Damn...20 bucks for a transaction....and still no confirmation? That is fucked up mate...never paid more than 2 bucks,still way too much.
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November 12, 2017, 10:01:32 PM
 #24

https://blockchain.info/unconfirmed-transactions
now 165K in list... it was over 168K 7 hours ago... slowly getting better))
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November 12, 2017, 10:05:12 PM
 #25

If you know what is good for you, don't sell your BTC. this is the best time to buy from those selling theirs. Since CME added BTC to its platform, I knew this would happen and the spamming BTC network is obviously from them. Expect the price to drop to 3000$ ... They are cheats and can never be trusted. This is what they did to the Traditional financial zone that made the old system less trustworthy. Now they trying to hijack this from the masses again.

BCH is just taking advantage of the same pressure and I believe calculated a time to strike the BTC network. Honestly, this will be the biggest sabotage of the BTC network.
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November 12, 2017, 10:09:42 PM
 #26

Wow that is really bad , this is a big hit for btc , so easy to disrupt.
I hope a solution will come.

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November 12, 2017, 10:10:57 PM
 #27

I payed $20 for a BTC transaction 2 hours ago, still 0 confirmations.. how long do you reckon it could take ?
Don't be surprised that you paid too much just to get 0 confirmation. Always monitor unconfirmed transactions through https://blockchain.info/unconfirmed-transactions and if you see that there's hundred thousands transactions that are stuck there, think twice if you do really need to transact for that moment. There's an attack with the bitcoin network that results to delayed transactions.

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November 12, 2017, 10:13:00 PM
 #28

A lot of miners have switched to mining bitcoin cash, since the bitcoin difficulity got harder in the last couple of days hence why the transaction are starting to get slow and they get unconfirmend..

So, will miners now just switched to whichever bitcoin version is easier to mine?

If so, the transaction backlog will swing wildly from one version of bitcoin to the other as the difficulty changes, all the miners switch coins and mine until that difficulty changes, then switch back, etc. And you could expect this kind of delay every difficulty change and it will get worse every time there is a bitcoin fork.
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November 12, 2017, 10:13:19 PM
 #29

not normal - need actual details to help here...

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November 12, 2017, 10:14:02 PM
 #30

Calm down, the number of late transaction s rapidly going down, this attack will be finished very soon. Conclusion, it has FAILED as all these attacks before you.

YOU CANNOT KILL BITCOIN so stop trying.


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November 12, 2017, 10:15:54 PM
 #31

it's not about how much you paid in fees for your transaction , it's about how many people used higher fee than yours
the blockchain at the moment is facing huge amount of transactions ( 167K at the time of post ) so that's the problem

also a lot of miners stopped mining and went to mine BCH

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November 12, 2017, 10:19:36 PM
 #32

It's a bit weird but i wouldn't be so worried about that.

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November 12, 2017, 10:23:47 PM
 #33

Calm down, the number of late transaction s rapidly going down, this attack will be finished very soon. Conclusion, it has FAILED as all these attacks before you.

This is no attack... the transaction rate is close to normal. Miners switched to Bitcoin Cash, because it is more profitable. Block time was huge, transactions were not processed. Situation will normalize, because difficulty for BCH just exploded, but this is the second time this year, that we were close to 200K transaction backlog. This MUST NOT happen again, otherwise people lose trust in bitcoin.

This is what happens if mining is centralized. The greedy miners actually don't care about transactions waiting to be confirmed. It's all about profit.

The bitcoin team must increase the block size as soon as possible, otherwise BCH will take over in the long run. The situation is very serious.
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November 12, 2017, 10:30:11 PM
 #34

A friend had the same experience,think it better to pause transaction,when things get normalice you can then do your transfer

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November 12, 2017, 10:31:24 PM
 #35

Miners want to control bitcoin and make more money. However if they destroy there will be nothing for them. Greedy people.

They want to destroy a good idea, bitcoin.
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November 12, 2017, 10:36:19 PM
 #36

I payed $20 for a BTC transaction 2 hours ago, still 0 confirmations.. how long do you reckon it could take ?

Do not worry if there is no confirmation yet. Keep calm and believe that it will be confirmed sooner. You know if it is a big transaction, they will not confirm it very soon because they will check it for many times for accuracy and no mistakes. It may give you a little bit fear because the confirmation is delayed but I know that it will come sooner not later than this day.

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November 12, 2017, 10:44:54 PM
 #37

I payed $20 for a BTC transaction 2 hours ago, still 0 confirmations.. how long do you reckon it could take ?
You're playing into Bitmain's game. They switched to BCC and are spamming the BTC network to make it slower. People like you are paying a lot of money in fees for no reason. The only solution is to wait it out they won't keep their spam forever. If you send with normal fees that you'd pay 2 days ago, like $2 it will still get confirmed. We are repeating the situation from 2 months ago.
Bitcoin is currently mining less than 3 blocks an hour, which is why there are so many unconfirmed transactions.
BCH's difficulty adjusts tonight, so some of the hashrate might come back to bitcoin, in which case the transaction backlog will get cleared.
Wonderful, I was reading this article yesterday on the web:

$700 Million Stuck in 115,000 Unconfirmed Bitcoin Transactions
https://www.cryptocoinsnews.com/700-million-stuck-115000-unconfirmed-bitcoin-transactions/

And i asked myself, what the hell is going on again? Is this another form of DDoS attack on blockchain or what?
Thank God now since everything will be ok in few days. I first though some lazy punks are trying slow people down, man. Grin



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Maestro75
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November 12, 2017, 11:30:47 PM
 #38

I payed $20 for a BTC transaction 2 hours ago, still 0 confirmations.. how long do you reckon it could take ?

This is the hard time for the bitcoin because the transaction fee is getting higher due to the less number of miners available but the transaction take sometimes i think atleast 6 hours to complete your trancation.
Saying higher is putting it mildly. It is outrageous! Imagine paying $3 on a transaction of a mere $20 and one had to wait for 24hrs two days ago for it to pull through. OP, no one can really give you the exact time your transaction can pull through.

Processing transactions on time has always been the bane of Bitcoin. One would have thought that the previous fork would have addressed it.

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November 12, 2017, 11:32:28 PM
 #39

Higher... visa and mc would b ****** **** hourly for 14$/transaction fee, if miners don't return it will only b going downwards.
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November 12, 2017, 11:58:59 PM
 #40

I payed $20 for a BTC transaction 2 hours ago, still 0 confirmations.. how long do you reckon it could take ?

You need to be patient on this one even if you made a high transaction fee but because of the
large volume of transactions that are being solved then delays are happening right now.

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