Transactions wait longer BUT Pools generate small blocks

[Come-from-Beyond]

http://blockchain.info/charts/avg-confirmation-time (went up)

&

http://blockchain.info/charts/avg-block-size (less than 256 Kb)

&

http://blockchain.info/unconfirmed-transactions (more than 6000 awaiting transactions)

&

My personal transaction waiting too long


Any ideas how to fix this issue?

[1714490695]

1714490695

[1714490695]

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[1714490695]

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[1714490695]

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[1714490695]

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[Foxpup]

To fix the issue, pay more fees. 250kB is the limit of how much of a block can be filled with transactions paying only the minimum fee (under the Satoshi client rules). Since this limit is being hit on a regular basis, transactions paying the minimum fee are forced to wait. To overcome this limit, a transaction must pay more than double the minimum fee - how much more depends on how large the block is; miners will not produce large blocks unless correspondingly large fees are paid (because large blocks are more likely to be orphaned, so large fees are demanded to compensate for this increased risk).

Transaction volume has reached the point where transaction fees have a significant effect on confirmation times. I recommend paying at least BTC0.00025 per kB to ensure fast confirmation. If transaction volume continues to increase, even higher fees may be required.

[Technomage]

Good explanation Foxpup. The lesson is: don't send 0-fee tx.

[Come-from-Beyond]

To fix the issue, pay more fees.

Is it extortion? There were a lot of 100K blocks, plenty of room for my transaction. I hope pool owners won't cooperate until a good alternative of Bitcoin pops up.

[grue]

To fix the issue, pay more fees.

Is it extortion? There were a lot of 100K blocks, plenty of room for my transaction. I hope pool owners won't cooperate until a good alternative of Bitcoin pops up.

Miners have no obligation to include transactions.

[pivavar]

To fix the issue, pay more fees.

Is it extortion? There were a lot of 100K blocks, plenty of room for my transaction. I hope pool owners won't cooperate until a good alternative of Bitcoin pops up.

Miners have no obligation to include transactions.

Sure. Especially if they enjoy BTC price decline caused by this jam.

[deepceleron]

To fix the issue, pay more fees.

Is it extortion? There were a lot of 100K blocks, plenty of room for my transaction. I hope pool owners won't cooperate until a good alternative of Bitcoin pops up.

You mean like an international money wire, where your payment is routed through unknown banks who each take their own random fee before it gets to its destination a week later $50 lighter, and you have to fill out the FinCEN AML paperwork. Don't send multiple payments under $10,000 either, or maybe they will all be "forfeited" for attempting to skirt AML laws. You might even have to leave your house.

Western union moneygram? US->US sending $1 costs $5.

[oakpacific]

Try to find an alternative which would even consider to send any amount for you for just 7 U.S cents.

[Come-from-Beyond]

Try to find an alternative which would even consider to send any amount for you for just 7 U.S cents.

I'll wait for eMunie, it looks promising.