BTC confirmation is so fast now

[iamvip987]

 
today i send a transaction with 2$ fee and it got confirmed in just 2 minutes  

[timikulit]

This is because bitcoin is starting to finish his backlogs

https://blockchain.info/unconfirmed-transactions

the transaction speed and its corresponding fees is now coming back to normal

[davis196]

today i send a transaction with 2$ fee and it got confirmed in just 2 minutes  

How much btc did you send for a 2$ fee,OP?
All the unconfirmed transactions will be cleared,but i`m wondering who is sending all the spam micro-transactions ,that flood the blockchain.I thought that the Segwit2x supporters and devs are responsible for this ,but  Segwit2x was cancelled.Perhaps some miners are going this in order to increase the transaction fees.

[kueyen]

Posts like this make me happy. Means the take rate of bitcoin is increasing

[iamvip987]

today i send a transaction with 2$ fee and it got confirmed in just 2 minutes  

How much btc did you send for a 2$ fee,OP?
All the unconfirmed transactions will be cleared,but i`m wondering who is sending all the spam micro-transactions ,that flood the blockchain.I thought that the Segwit2x supporters and devs are responsible for this ,but  Segwit2x was cancelled.Perhaps some miners are going this in order to increase the transaction fees.

a 400$ Btc worth

[pooya87]

bitcoin confirmations are always at the same speed! they are as fast as the time that it takes to find a block which is 10 minutes on average.

what is changing is the fees and because of that the priority that individual transactions get.
the fees change based on how many transactions are being made and how many of them are being confirmed. recently because of a temporary big drop in bitcoin hashrate, fewer blocks were found and as a result less transactions were mined. additionally due to price dropping many bitcoin transactions were made all of which caused the mempool (number of unconfirmed transactions) to grow.

this means a competition to get higher priority by paying higher fees.
and none of this has anything to do with "confirmation speed"

[Pan Troglodytes]

today i send a transaction with 2$ fee and it got confirmed in just 2 minutes  

I sent a 6$ transaction and it was confirmed at no time, but if the 2$ were to be as effective, I am so angry at myself for throwing away the 4$ difference

[iamvip987]

now it got only 20k unconfirmed transaction when the bch bump it was 200k fake transaction +

[jseverson]

It is? Awesome. Time to move coins then. I honestly thought it would take longer for things to stabilize, but I'll take it. This just proves that Bitcoin cannot be taken down so easily. I would like to note that $2 is a rather high fee though. You should be able to get by with some cents on a normal day.

Just to reiterate, the reason why so many transactions were stuck this past week is because the mempool got spammed by presumably the same actors that pumped Bitcoin Cash. Everyone had to pay higher to get priority because of the sheer volume of transactions. That being said, be careful what/who you support.

[~Bitcoin~]

now it got only 20k unconfirmed transaction when the bch bump it was 200k fake transaction +

Those unconfirmed transactions were actually not fake, miners have left bitcoin mining and started mining bitcoin cash because they were getting more than what they can get from bitcoin mining. So difficulty was high but number of miners were low so transactions with quite good amount of fee also got stucked for few hours.

[nappoleon]

Partly because, hashrate is back to at least 10M TH/s so mempool starts to reduce significant amount of transactions from its pool. I'd suggest to plan your transactions moving forward and monitor the hashrate. It's good to do transcation when the hashrate and mempool is healthy.

[NUFCrichard]

today i send a transaction with 2$ fee and it got confirmed in just 2 minutes  

I sent a 6$ transaction and it was confirmed at no time, but if the 2$ were to be as effective, I am so angry at myself for throwing away the 4$ difference

You should always look here:

https://bitcoinfees.earn.com/

Before sending Bitcoin. As I type, if you wanted to send 15 sats per byte, it would be confirmed relatively quickly still.
That would make the average transaction fee required to be $2.50.

It's still a lot really, if paypal cost $2.50 everytime you used it, I think it would be far less popular.  It is at least much better than  it was last week!

[NUFCrichard]

now it got only 20k unconfirmed transaction when the bch bump it was 200k fake transaction +

Those unconfirmed transactions were actually not fake, miners have left bitcoin mining and started mining bitcoin cash because they were getting more than what they can get from bitcoin mining. So difficulty was high but number of miners were low so transactions with quite good amount of fee also got stucked for few hours.

It seems more than a coincidence that miners left Bitcoin for Bitcoin Cash at the exact time that the segwit2x fork was postponed and a load of transactions hit the blockchain and the Bitcoin Cash price skyrocketed.

It seems like it was an attempt by someone to get the Bitcoin Cash price up, or maybe even a shot at the number 1 spot.

I guess it doesn't really matter too much to miners if Bitcoin or Bitcoin Cash is number one, they just point their miners in a different direction.

[alani123]

Let's not be foolish. The bar shouldn't be set higher each time Bitcoin goes though a backlog of transactions. 2$ in fees is not cheap by any measure. There are better alternatives even within the crypto world and Bitcoin still hasn't done much to address how easy it is for fees to rise rapidly, making transactions more expensive for everyone.

[mindrust]

Let's not be foolish. The bar shouldn't be set higher each time Bitcoin goes though a backlog of transactions. 2$ in fees is not cheap by any measure. There are better alternatives even within the crypto world and Bitcoin still hasn't done much to address how easy it is for fees to rise rapidly, making transactions more expensive for everyone.

I am OK with 2$ fees. No big deal.

It is not ideal for coffee purchases obviously but LN is coming to fix that too.

[Coins and Hardwork]

This is because bitcoin is starting to finish his backlogs

https://blockchain.info/unconfirmed-transactions

the transaction speed and its corresponding fees is now coming back to normal

I think with a lot of matters going down these days it really need something to get back to users. The news about the bug is something and I think it will be dissappearing soon.

I hope this transactions become the usual, I don't ever wanna read a thread again about having a slow transaction confirmation about bitcoin.

[Dudeperfect]

Well, it depends on the current network load and fees that you are including for the transaction confirmation. It's a good thing that your transaction got confirmation within few minutes but to be honest, we have to work on this issue as it is not the same case for everyone. Paying Bitcoin for micro-transaction needs high fee and that's what keeps the majority of the Bitcoin users away from using Bitcoins for low volume transactions (especially transactions in the offline market). However, I am sure that we will find a concrete solution for this issue soon. Not everyone is as lucky as you.

[nappoleon]

Let's not be foolish. The bar shouldn't be set higher each time Bitcoin goes though a backlog of transactions. 2$ in fees is not cheap by any measure. There are better alternatives even within the crypto world and Bitcoin still hasn't done much to address how easy it is for fees to rise rapidly, making transactions more expensive for everyone.

So what are you proposing? Either way, ever heard of altcoins? Anyway, In my opinion, this is a symptom of growth. Once L2 is live it won't be like this.

[athanz88]

today i send a transaction with 2$ fee and it got confirmed in just 2 minutes  

How much btc did you send for a 2$ fee,OP?
All the unconfirmed transactions will be cleared,but i`m wondering who is sending all the spam micro-transactions ,that flood the blockchain.I thought that the Segwit2x supporters and devs are responsible for this ,but  Segwit2x was cancelled.Perhaps some miners are going this in order to increase the transaction fees.

a 400$ Btc worth

Wow, a 400 usd transaction and only cost you 2 usd is great things to see now, and you can say the transaction is fast, that is a very very great things. As we know before it has a lot of unconfirmed transaction, higher fees, and longer time to make a confirmed transaction. I hope all the unconfirmed transaction will be cleared soon.
You re wondering who spammed the micro transaction? I guess there are rumours around that saying china and some organized people trying to make bitcoin dead by moving their money to some coins, and it makes a lot amount of transaction and we suffer from it a bit, but i know bitcoin will comeback stronger. Because bitcoin is the main thing.
Thanks for the information. I didnt make any transaction lately because of the price and the amount of unconfirmed transaction, but now hearing this from you, maybe i will do some later. Thanks !!

[CodyAlfaridzi]

Good to hear, OP!

So it's finally over. Last week we had almost 200k+ transaction backlog when the hashrate is less than half of today hashrate. Couldn't blame the miner when they jump to BCH because of profitability. Let's hope we could solve this issue somedays. Having to pay for almost $10 for fee in a simple transaction isn't nice.

Let's not be foolish. The bar shouldn't be set higher each time Bitcoin goes though a backlog of transactions. 2$ in fees is not cheap by any measure. There are better alternatives even within the crypto world and Bitcoin still hasn't done much to address how easy it is for fees to rise rapidly, making transactions more expensive for everyone.

I am OK with 2$ fees. No big deal.

It is not ideal for coffee purchases obviously but LN is coming to fix that too.

Well, I'm OK with not being able to buy coffee with Bitcoin. It sorts of an overkill. But if Lightning Network could make it possible, surely nice.

[wisdomcn]

Most time that could be some little delay in the transaction conformation, even in our commercial banks when comes for transaction the do have some delay. At times it can be as a result of program update. Or as a result of traffic in transactions. That should not make anyone to panic when there is such experience.

[erickkyut]

today i send a transaction with 2$ fee and it got confirmed in just 2 minutes  

That's a good news to hear. I'm happy that the transaction confirmation is very fast now. Maybe it is one of the reasons why Bitcoin's price stabilized at around $7k and almost reached $8k. I hope that the transaction fees will be much more lower next time. It is good to hear news such as this. I'm praying that it will continue.

[Fujiati]

today i send a transaction with 2$ fee and it got confirmed in just 2 minutes  

I am doing a transaction today, and as your words are indeed very fast transactions, this will be better for us in the world of cryptocurrency,

[alexzorgo]

Just the next stage of war for leadership in the world of cryptocurrencies ended. I think, ahead still we are waited by such "entertainment" because of such people as Roger Ver and his supporter friends. Miners switched the capacities back to bitcoin blockchain, but problem not to them. And it just effect, and the reason in imperfection of code of blockchain. I hope, Lightning Network will solve at least this part of problems.

[Jamie Oliver]

Because your luck is very good, because to the next block 2 minutes before you sent the radio, so you feel very quickly, if you when just confirmed to the radio, so you will feel very slow.

[Sachinist]

The backlog was created by bitmain hashrate manipulation to pump their Bcash trash.

I sent a few transactions yesterday using send to many for just 10k sats, which is less than 80 cents. That's a totally reasonable fee.