+95,000 Unconfirmed Transactions

[Ma907xB]

Looks like we're getting close to the amount of unconfirmed transactions that were in the market when BCH went up to $ 2,500. Difficulty Rating also shot up today. What does it all mean?

[DooMAD]

Looks like we're getting close to the amount of unconfirmed transactions that were in the market when BCH went up to $ 2,500. Difficulty Rating also shot up today. What does it all mean?

Higher prices generally mean greater mining profitably, so if the difficulty has just shot up, it could mean some miners are taking profit at these new all time highs, but then investing that profit back into some new ASIC hardware.  It would make sense from a business perspective to take advantage of such rapid gains to expand the farm.  Expect difficulty to go even higher once a new hardware manufacturer launches their miner to combat the dominance of Bitmain.

[Ma907xB]

Looks like we're getting close to the amount of unconfirmed transactions that were in the market when BCH went up to $ 2,500. Difficulty Rating also shot up today. What does it all mean?

Higher prices generally mean greater mining profitably, so if the difficulty has just shot up, it could mean some miners are taking profit at these new all time highs, but then investing that profit back into some new ASIC hardware.  It would make sense from a business perspective to take advantage of such rapid gains to expand the farm.  Expect difficulty to go even higher once a new hardware manufacturer launches their miner to combat the dominance of Bitmain.

Those Halong Dragonmint miners are unproven. 5 minimum order with an April delivery. Risky order.

[Yakamoto]

Looks like we're getting close to the amount of unconfirmed transactions that were in the market when BCH went up to $ 2,500. Difficulty Rating also shot up today. What does it all mean?

Lots of miners are turning on and the difficulty is going to probably make the problems worse, since we aren't processing more than maybe a few thousand transactions every block and we're backed up more than a few day's worth of confirm-able transactions. They really need to get the blockchain humming along again because this is going to be an issue should the blockchain be backed up this much for this long.

Maybe bigger blocks, even by 50%, weren't a bad idea if they were implemented correctly. The bad news is that the number of unconfirmed transactions just keeps going up amidst the efforts of the miners.

High fees for everyone while they chip away at the queue then.

[DooMAD]

Maybe bigger blocks, even by 50%, weren't a bad idea if they were implemented correctly. The bad news is that the number of unconfirmed transactions just keeps going up amidst the efforts of the miners.

High fees for everyone while they chip away at the queue then.

I'm still not convinced by any ideas involving one-time flat increases to the blockweight when it would only lead to more hardforks in future when the need arises yet again.  This is why people always throw the "kicking the can down the road" argument at the majority of discussions about blocksize.  If we have to touch the base blockweight at all, at least do it this way so it doesn't result in constant forks and would naturally adapt to whatever traffic the network is facing at any given time.

[ddurand]

That's why litecoin and lightning network wee created, to reduce transaction congestion.But until lightning network will be available, the number of unconfirmed transaction will increase as much transaction occurs.

[Turkish88]

i have one idea for mempool modification.
Developers must change transaction system in this way, where it operate by turns, and not by the desire of miners

[DooMAD]

i have one idea for mempool modification.
Developers must change transaction system in this way, where it operate by turns, and not by the desire of miners

I'm not quite following what you mean by "turns".  Are you suggesting that transactions should be processed on a first come/first served basis?  So that they get confirmed in the order they are picked up by the network?  If so, that would eliminate any kind of incentive for people to include a tx fee with their transactions, as they would be guaranteed to be processed in a timely fashion regardless.  Which means that as the block reward starts to reduce over time with each halving, there would be less revenue for miners.  That could cause severe damage to Bitcoin's longevity and sustainability.  

If that's not what you meant, you might need to elaborate on your idea a bit.

[fanbeila]

I think that its far better than last week's volume of almost 220,000 unconfirmed transactions when bitcoin reached its ATH price.Segwit has not helped by any way to solve this problem.It could be solved when lightning network gets activated which is still in its beta stage.

[jseverson]

That's why litecoin and lightning network wee created, to reduce transaction congestion.But until lightning network will be available, the number of unconfirmed transaction will increase as much transaction occurs.

What does Litecoin have to do with anything? It's not tied to Bitcoin by any means.

Looks like we're getting close to the amount of unconfirmed transactions that were in the market when BCH went up to $ 2,500. Difficulty Rating also shot up today. What does it all mean?

Lots of miners are turning on and the difficulty is going to probably make the problems worse, since we aren't processing more than maybe a few thousand transactions every block and we're backed up more than a few day's worth of confirm-able transactions. They really need to get the blockchain humming along again because this is going to be an issue should the blockchain be backed up this much for this long.

Maybe bigger blocks, even by 50%, weren't a bad idea if they were implemented correctly. The bad news is that the number of unconfirmed transactions just keeps going up amidst the efforts of the miners.

High fees for everyone while they chip away at the queue then.

I don't know about bigger blocks, but I'm fairly sure I saw the number of unconfirmed transaction a few days ago was about 200k, and the next time I checked it was at about 95k. It seems to have shot up again at 150k, but hey, at least it hasn't become progressively worse since 200k. Either way, the mempool has already been clogged up longer than when Bitcoin Cash launched their shill attack, and it doesn't look like things will be going back to normal soon. We may need a band-aid solution pretty soon.

[heppot]

Looks like we're getting close to the amount of unconfirmed transactions that were in the market when BCH went up to $ 2,500. Difficulty Rating also shot up today. What does it all mean?

this is one of the things I hate the most in bitcoin despite the many positive things we get from bitcoin. I am also still surprised by the most popular coin today, still not able to overcome the unconfirmed transaction constraints that are increasing, even though the fee has been raised.

[giveen]

Looks like we're getting close to the amount of unconfirmed transactions that were in the market when BCH went up to $ 2,500. Difficulty Rating also shot up today. What does it all mean?

this is one of the things I hate the most in bitcoin despite the many positive things we get from bitcoin. I am also still surprised by the most popular coin today, still not able to overcome the unconfirmed transaction constraints that are increasing, even though the fee has been raised.

How will it even be able to do it the difficulty is increasing every 2 weeks which would mean miners have to use better systems or wait for more time to mine a block which again means they will require more energy and cost will increase.

So all these transactions which are unconfirmed are with low fees so why would they simply mine and barely earn anything rather the higher fees would be given priority first.

[andamers]

Looks like we're getting close to the amount of unconfirmed transactions that were in the market when BCH went up to $ 2,500. Difficulty Rating also shot up today. What does it all mean?

Unconfirmed Transactions  is problem and we make it worst . many just things by earning and moving bitcoin between sites all this make market cap incrasing then price incrasing in other words.

people must stop thinking bitcoin is fast way to be rich

[Ma907xB]

We need a bigger block size. There will have to be another hard fork. Wouldn’t that solve the issue? Why didn’t the BTG hard fork happen? Wasn’t that suppose to have a 2MB block size?

 

[jseverson]

We need a bigger block size. There will have to be another hard fork. Wouldn’t that solve the issue? Why didn’t the BTG hard fork happen? Wasn’t that suppose to have a 2MB block size?

 

It could, but that would come with certain downsides. Whether that is worth the immediate but temporary relief is up for debate. Besides the technical issue of decentralization, there's also a political side with Bitcoin Cash being validated somewhat. Either way, it doesn't look like a small block size increase is on the table. All we have right now is inceased Segwit adoption and the upcoming Lightning Network.

The Bitcoin Gold fork did happen, but no one really cares about it. It doesn't affect the main chain whatsoever, so it isn't even relevant in this case.

[piebeyb]

the lucrative thing is that if many bitcoin miners in the world continue to grow, it will help and benefit also to them maybe
I think all back on bitcoin users themselves at least do not make unnecessary payment transactions

[mkettler]

Looks like we're getting close to the amount of unconfirmed transactions that were in the market when BCH went up to $ 2,500. Difficulty Rating also shot up today. What does it all mean?

BITCOIN really needs to step it’s game up and implement shit like lightning network asap to fix this fees bullshit that is going on ASAP

[naglas]

And do you know that China is planning to kick out miners ("bitcoin miners should make an “orderly exit” from China because they have consumed “huge amounts of resources and stoked speculation of ‘virtual currencies.”"(Techcrunch says)) and that's the big problem for BTC community, there're a lot of miners there

[Ayiranorea]

And do you know that China is planning to kick out miners ("bitcoin miners should make an “orderly exit” from China because they have consumed “huge amounts of resources and stoked speculation of ‘virtual currencies.”"(Techcrunch says)) and that's the big problem for BTC community, there're a lot of miners there

Such a news is getting circulated around the cryptocurrency community. China being a global legend supporting cryptocurrency in the past has been making lots of regulatory acts. Now the confirmations happening with bitcoin transactions were getting delayed and more transactions were getting stuck to the network is completely based on the network congestion.

[Davidbugs2]

It has been a routine now a day. Wonder if they have any solution to this problem. Fees is also becoming higher and higher.