Only 9300 unconfirmed transactions today

[farhaan]

If i'm not wrong,there were almost 300k unconfirmed transactions during christmas making it very difficult to even sell bitcoins to enjoy the high price.Such a situation even made steem to get back from accepting bitcoin payments.

But now,today there were only 10,000 unconfirmed transactions.

         https://blockchain.info/unconfirmed-transactions

   

[Aura]

You're right, the mempool was really high during Christmas. This development is great for micro-payments, because it means lower fees. This graph shows that the fees are decreasing with the mempool: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html.

[GREATLOVE]

If i'm not wrong,there were almost 300k unconfirmed transactions during christmas making it very difficult to even sell bitcoins to enjoy the high price.Such a situation even made steem to get back from accepting bitcoin payments.

But now,today there were only 10,000 unconfirmed transactions.

         https://blockchain.info/unconfirmed-transactions

   

So, that means that if bitcoin get up there are a lot of unconfirmed transactions than today. I think because if bitcoin getting higher there area lot of holders will sel and when in down there are a lot of investor who holds.

[Kravious]

Bitcoin right now, since it is almost known worldwide would undergo natural growth. Well, i'm hoping that those people investing in stocks would convert to investing in crypto. That would  surely boost the value rapidly. 

[captin crunch]

If i'm not wrong,there were almost 300k unconfirmed transactions during christmas making it very difficult to even sell bitcoins to enjoy the high price.Such a situation even made steem to get back from accepting bitcoin payments.

But now,today there were only 10,000 unconfirmed transactions.

         https://blockchain.info/unconfirmed-transactions

   

In the end of December everything was overloaded, it was boom of buying and selling, no it is going its normal way.

[Catch-22]

It's understandable since at times like this when we HOLD until we can.  I think buying is also affected by the price since it has been into dip for sometime now.  Bitcoin investors are having second thoughts on buying.

[supermine]

If i'm not wrong,there were almost 300k unconfirmed transactions during christmas making it very difficult to even sell bitcoins to enjoy the high price.Such a situation even made steem to get back from accepting bitcoin payments.

But now,today there were only 10,000 unconfirmed transactions.

         https://blockchain.info/unconfirmed-transactions
 

It shows that now people are started to hold bitcoins so it is good news and the price will increase if they continue to hold.Yeah at the time of Christmas there were nearly 300K unconfirmed transactions and the fee for a single transaction is get into $100 for a simple transaction too.But the bitcoin community needs to implement the lightning network as soon as possible because there will be traffic again if the price bumps so lightning network is the permanent solution to clear the number of unconfirmed transactions.Thee fee is very very cheap now only fraction in a dollar that is a good thing.

[JPCain]

Bitcoin is in as stronger place as its been for a while. Some great developments in the background weak hands have sold.

For me the only risk is the value of the Crypto Market Cap. Whales could buy up and control the market for the foreseeable future

[jtipt]

You're right, the mempool was really high during Christmas. This development is great for micro-payments, because it means lower fees. This graph shows that the fees are decreasing with the mempool: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html.

Yeah the mempool has been cleared since a week now, even 2-3 sat/byte are enough for confirmation in the next block or 2 blocks. Right now only the 1 sat and such older transactions are left in the pool.

[Booooooo]

If i'm not wrong,there were almost 300k unconfirmed transactions during christmas making it very difficult to even sell bitcoins to enjoy the high price.Such a situation even made steem to get back from accepting bitcoin payments.

But now,today there were only 10,000 unconfirmed transactions.

         https://blockchain.info/unconfirmed-transactions

   

Is this due to the beginning of the functioning of the lightning network in the bitcoin network? Transactions have become very fast, this should be reflected in the price of bitcoins.

[buwaytress]

I didn't think it'd get this low actually, last two weeks it was already quite a good time to do low fee txs like the wallet consolidation I'd been putting off for months.

Was just saying at the time that it's possible that if Segwit and LN get the adoption long overdue, we may never again see mempool reach 100k. Just hit me actually, rising mempool has usually correlated with demand and price. Are we about to lose one more pointer to where the market is heading?

[bitart]

...   

Is this due to the beginning of the functioning of the lightning network in the bitcoin network? Transactions have become very fast, this should be reflected in the price of bitcoins.

Lightning network is not yet here officially. It works on the test network, and the number of the LN nodes and connections on the mainnet are growing day by day but it's still a testing period, so this won't affect the transaction fees directly. Segwit is the thing that has an effect on the transaction fees, as if more and more wallets are using segwit, the transactions would get smaller then before, so one block would contain more transactions like before, so the price of getting into a block (tx fee) will become lower a bit. Also, as already mentioned here, Christmas was a really busy period of the year, so now there are less people who want to send a transaction, this also makes the tx fee lower.

[imapessimist]

It's just stagnant at present.  Waiting for new people to come in and boost the price.  And other people to hold. 

[tegarp90]

maybe the volume of transsactions goes down since the price of btc dropped so deep, not many people is sending btc right now

[$$$sparkles$$$]

If i'm not wrong,there were almost 300k unconfirmed transactions during christmas making it very difficult to even sell bitcoins to enjoy the high price.Such a situation even made steem to get back from accepting bitcoin payments.

But now,today there were only 10,000 unconfirmed transactions.

         https://blockchain.info/unconfirmed-transactions

   

History repeats itself. Prices normally crash during the holiday season due to the massive sell and cashing out (Did someone gave you a luxurious gift for Christmas? Lol! ). But the season has long passed and the market will soon recover. More greens than reds pretty soon (Oooo, green and red, Christmas colors right?). Time to buy and hold...or HODL as most members are using in this forum (Shout out to that guy who was drinking Whisky at the time!). Cheers! 🥂

[seven2smoke1]

If i'm not wrong,there were almost 300k unconfirmed transactions during christmas making it very difficult to even sell bitcoins to enjoy the high price.Such a situation even made steem to get back from accepting bitcoin payments.

But now,today there were only 10,000 unconfirmed transactions.

         https://blockchain.info/unconfirmed-transactions

   

Now, it's around 6000 unconfirmed transactions, It's too good for us. The fastest and cheapest transaction fee is currently 120 satoshis/byte it's around 27,120 satoshis. according to https://bitcoinfees.earn.com/. Too low, I hope it will be like that even if the bitcoin price will increase.

[BelieveInBitcoin]

Finally the backlog is being cleared.

[rommelzkie]

^ not yet there is still 5,000 pending transactions. If it reaches to 100 or even 10 a lot of investor would be happy because their transaction is now cleared out.

[JesusCryptos]

You're right, the mempool was really high during Christmas. This development is great for micro-payments, because it means lower fees. This graph shows that the fees are decreasing with the mempool: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html.

During Christmas Bitcoin was sailing in ATH territory and many people were moving Bitcoins, either to buy or to sell them. Now that the market is depressed most of the people hodl and don't move coins - this explains the empty mempool.

[handsomes]

I think the transaction now is crash because of season or events like during Christmas the value can erupt $10,000 very huge before but now a days so very dump because of transaction.