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Author Topic: How do BTC transaction work?  (Read 91 times)
Jehuda
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December 15, 2017, 08:14:07 PM
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Hello I have asked this question on several forums and got no answer.

I was wondering how is it that Chain.so is struggling so hard to process all its BTC transactions. On 13/12 I have sent 0.07862241 BTC from my Hashlfare wallet and payed 0.00078572 in fees (so not a low fee transaction). Hashflare confirmed it but and my transaction has still not arrived in my Exodus wallet after 2 days. Yet when I send the same amount from my Exodus wallet for example or any other wallet for that matter and pay the same fee the transaction gets processed in under one hour. I also cannot find the transaction ID on https://blockchain.info/ it only exists on Chain.so. I do understand that miners prioritize the transaction with the highest fee and (my transaction being one of them) can somebody here be so kind and enlighten me about how is this even possible that after 2 days my transaction is still not confirmed ? I am just trying to understand the logic behind this.
Many thanks
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December 16, 2017, 12:23:19 AM
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Hello I have asked this question on several forums and got no answer.

I was wondering how is it that Chain.so is struggling so hard to process all its BTC transactions. On 13/12 I have sent 0.07862241 BTC from my Hashlfare wallet and payed 0.00078572 in fees (so not a low fee transaction). Hashflare confirmed it but and my transaction has still not arrived in my Exodus wallet after 2 days. Yet when I send the same amount from my Exodus wallet for example or any other wallet for that matter and pay the same fee the transaction gets processed in under one hour. I also cannot find the transaction ID on https://blockchain.info/ it only exists on Chain.so. I do understand that miners prioritize the transaction with the highest fee and (my transaction being one of them) can somebody here be so kind and enlighten me about how is this even possible that after 2 days my transaction is still not confirmed ? I am just trying to understand the logic behind this.
Many thanks

If it is not on Blockchain.info but it does show up on some other blockchain lookup tool, it probably means that the transaction is still unconfirmed and was in this status long enough for Blockchain.info to drop it from their own mempool. This means that unless the transaction does end up getting confirmed, they will stop broadcasting it. Also, it is important to note that a transaction with a higher fee may have less priority than one with a lower fee depending on the actual size of the transaction in bytes. What matters is the fee per byte, not the raw fee itself. If you go to https://btc.com/stats/unconfirmed-tx you can check what a good transaction fee is, which right now is showing at around 400 satoshi per byte. If your transaction has less than that, you might have to keep waiting longer or have the sender resend it or double spend it.

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December 16, 2017, 08:24:02 AM
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I was wondering how is it that Chain.so is struggling so hard to process all its BTC transactions. On 13/12 I have sent 0.07862241 BTC from my Hashlfare wallet and payed 0.00078572 in fees (so not a low fee transaction). Hashflare confirmed it but and my transaction has still not arrived in my Exodus wallet after 2 days.
Chain.so does not process any transactions. Chain.so, just like other nodes, verify your transaction and that is all. For it to get confirmed, a miner has to include your transaction in their block and mine it.

Yet when I send the same amount from my Exodus wallet for example or any other wallet for that matter and pay the same fee the transaction gets processed in under one hour. I also cannot find the transaction ID on https://blockchain.info/ it only exists on Chain.so. I do understand that miners prioritize the transaction with the highest fee and (my transaction being one of them) can somebody here be so kind and enlighten me about how is this even possible that after 2 days my transaction is still not confirmed ? I am just trying to understand the logic behind this.
Many thanks
The total transaction fee isn't the factor that affects if your transaction gets mined. With the limited size, miner has to proritise transactions most efficiently. To do this, they take the fees/size or fee/byte and prioritise based on that. With the same fee, your transaction from exodus probably had a higher fee/size.

As with it not appearing on Blockchain.info, the transaction might have not been propagated well. The most common factor is due to differing mempool rules or having too low of a fee/size. It is definitely normal for transactions to be unconfirmed up to weeks, if you didn't have enough fee.

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December 17, 2017, 07:34:30 PM
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Hello I have asked this question on several forums and got no answer.

I was wondering how is it that Chain.so is struggling so hard to process all its BTC transactions. On 13/12 I have sent 0.07862241 BTC from my Hashlfare wallet and payed 0.00078572 in fees (so not a low fee transaction). Hashflare confirmed it but and my transaction has still not arrived in my Exodus wallet after 2 days. Yet when I send the same amount from my Exodus wallet for example or any other wallet for that matter and pay the same fee the transaction gets processed in under one hour. I also cannot find the transaction ID on https://blockchain.info/ it only exists on Chain.so. I do understand that miners prioritize the transaction with the highest fee and (my transaction being one of them) can somebody here be so kind and enlighten me about how is this even possible that after 2 days my transaction is still not confirmed ? I am just trying to understand the logic behind this.
Many thanks
I hope the transaction process picks up randomly and not based on where the request come from. Also it doesn't go in to the same pool every time. I don't know why it takes much time to confirm.
Why are you still struggling with that wallet if it happens frequently. Better to change the wallet or use transaction accelerator
Miner need to process it on priority since its a fee based. No way except pay high. Its increasing more.
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