High Bitcoin Transation!!

[mirtotanota]

hello

i have question, why bitcoin transaction fee is to high at this time? i should add 172 sat/B for my transaction to confirm in 20 minutes, 10 days ago my transactions confirmed only with 10sat/B
and can i speed up my transactions? i found a website : bitaccelerate.com that says they speedup transactions, is it really work?

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[Peanutswar]

You can visit our thread into services ▂▃▅▆█ Accelerate your transaction + RECOVER UR BTC SENT TO BCH ADDY (VV) █▆▅▃▂ and FREE/PAY BITCOIN TRANSACTION ACCELERATOR

[pooya87]

it is because there are currently a lot more transactions in the memory pool waiting to be included in a block than there is block size. and that increase is probably because of the price rise that we had recently.

there is no way to "speed up" your transaction apart from paying a higher fee to get a higher priority. the sites you see called "accelerator" are either scammers or mining pools that are asking for an even higher amount of money (compared to the fee that you would have paid for high priority tx) to include your tx in the block they find.

[blue Snow]

You can visit our thread into services ▂▃▅▆█ Accelerate your transaction + RECOVER UR BTC SENT TO BCH ADDY (VV) █▆▅▃▂ and FREE/PAY BITCOIN TRANSACTION ACCELERATOR

He asking "why bitcoin transaction fee is to high", don't need Accelerate transaction or anything service. Your accelerator does't make fee become low,

[Husna QA]

-snip- why bitcoin transaction fee is to high at this time? -snip-

There are several reasons why blockchain fees are so high, among them, as explained by pooya87.
Here I quote a few other explanations:

Blockchain fees depend on several factors including network congestion, transaction confirmation times (affected by liquidity providers), and transaction size (as measured in kilobytes; affected when converting crypto from multiple inputs such as faucet earnings or other micro-transactions).

A somewhat technical answer requires an understanding of how the bitcoin network works.
You can read it in the book of Mastering Bitcoin 2nd Edition (see "Transaction Fees" on page 126) by Andreas M. Antonopoulos (https://aantonop.com/)
Reference:
https://aantonop.com/
https://wirexapp.com/help/article/my-blockchain-fee-is-too-high-why-what-should-i-do-0079
https://support.bitpay.com/hc/en-us/articles/115004439366-Why-is-my-recommended-bitcoin-miner-fee-so-high-

[Little Mouse]

This is now a pain. I have a facebook group about bitcoin in my local and I have seen a lot of users are posting about this.
Due to a lot of people moving coins here and there, and bitcoin has a limited block size which is not enough to include all the tx in the block (can be included 1 MB maximum), people are fighting to get their tx included in a block. That's why the fee is high.

He asking "why bitcoin transaction fee is to high", don't need Accelerate transaction or anything service. Your accelerator does't make fee become low,

Actually, he was talking about accelerator too.

[nc50lc]

i found a website : bitaccelerate.com that says they speedup transactions, is it really work?

No, they just rebroadcast your transaction, there's no acceleration happened at all.
Simply broadcasting your transaction to your peers (if your using a full node) or your wallet's servers (if it's SPV/custodial) is enough to propagate a standard transaction.

You can safely say that it's well propagated (the tx is all over the network) the moment that you can view it on most blockexplorers.

Here's how that service accelerates transactions:

Our service will rebroadcast the transaction via 10 Bitcoin nodes.

This can be considered as real transaction accelerator (but have issues):

• https://www.viabtc.com/tools/txaccelerator/ - issues: Limited to 100 free submissions per hour | minimum of 10sat/B

[Vaculin]

What wallet you are using?

I tried the free service online but it seems not working to me, when my transaction is stuck, I will just increase the fee and rebroadcast it.

This kind of features is present in Electrum Wallet.

[cryptoaddictchie]

This is the reason why I used ethereum. ETH has fast transaction speed than Bitcoin. Withdraw fee is less in ethereum.

You cant simply compared the fees of eth to bitcoin now, if you havent noticed bitcoin just recently concluded the halving and the miners are probably decreased by now so the mempool was saturated leaving a huge drop om hash rate. Well no arguement if eth transaction speed is faster since they are not calculating their fees based on transaction but using the gas limit system. But I believe bitcoin case of high transaction fee right now will drop sometime. But if you are familiar with the lightning network you can use that to have a cheaper transaction fee.

[stompix]

hello
i have question, why bitcoin transaction fee is to high at this time? i should add 172 sat/B for my transaction to confirm in 20 minutes, 10 days ago my transactions confirmed only with 10sat/B

The halving happened and the difficulty didn't adjust correctly to show the drop in mining hash rate as it happened close to the middle of the period.
That's why in the last 24 hours we have 127 blocks mined out of 144 normally, a decrease in capacity by 17 blocks or 30k transactions.

and can i speed up my transactions?

Without paying a bigger fee as others suggested or if you can't grab a place at viabtc free accelerator, nope, there is no other way.

i found a website : bitaccelerate.com that says they speedup transactions, is it really work?

There are only two ways to accelerate your transactions:
- pay a higher fee, directly or indirectly
- convince a miner or mining pool to include your transaction in his next block even if you pay less than others (viabtc is doing this for 100 tx an hour)

LE:
Oh, and if the transaction is nothing important or urgent, wait for the weekend, usually it drops to 2-3/sat level.

[crzy]

What wallet you are using?

I tried the free service online but it seems not working to me, when my transaction is stuck, I will just increase the fee and rebroadcast it.

This kind of features is present in Electrum Wallet.

Increasing the fee is possible if you want to do a faster transactions.
Right now the fees is too much for bitcoin maybe because of the halving and the cost of mining might increase because of the update. This is normal when the miners decided to stop mining for a while and there's a lot of blocks that needs to be solve, the result is increased on the transactions fees.

[Annisa_crypto]

Recently halving just got over, that is why we are seeing a big difference of fees.Miners added more blocks to the database also.There are some wallets charges some fees as well.

[Assface16678]

Today we are now facing a huge problem which is the transaction fees after the halving most of them are rapidly increasing and it is not favorable to the whole economy and users who make bitcoin as the payment transaction. One of the factors of this is the miners some of them are going to stop mining for a while because of the halving block they half the earning of the miners and also because of this kind of pandemic outbreak there are a lot of miners cannot pay their electric bills because of having less opportunity to make work outside their houses. But this is not the limitation. Still, there are some miners to continue their job because they want to make more earnings.

You can visit our thread into services ▂▃▅▆█ Accelerate your transaction + RECOVER UR BTC SENT TO BCH ADDY (VV) █▆▅▃▂ and FREE/PAY BITCOIN TRANSACTION ACCELERATOR

He asking "why bitcoin transaction fee is to high", don't need Accelerate transaction or anything service. Your accelerator does't make fee become low,

Due to some process because of choosing the less transaction fee the OP is asking too how to make more the procedure even the transaction is slow.  With the help of those services the OP does not need to wait for a long time.

[Pffrt]

Due to some process because of choosing the less transaction fee the OP is asking too how to make more the procedure even the transaction is slow.  With the help of those services the OP does not need to wait for a long time.

They actually do nothing. viabtc is the one who will include low fee tx if anyone applies for but still you have to pay minimum fee to get your tx confirmed through viabtc. Most of the so called tx accelarator are fake and can do nothing.

[Coin_trader]

-snip

Most of the so called tx accelarator are fake and can do nothing.

Agreed that most tx accelerator are fake since there is no such services like that because most miners are prioritising high fee transaction unless a mining company itself offer that services. They are just rebroadcasting the tx so that it will not left behind on the queue of the miners list of pending transactions.

This happened to me recently when I input the cheapest amount of transaction fee using electrum wallet. My mistake was I did not check that the mem pool are too clogged that's the block confirmation was too slow. Because of that, I missed the opportunity to short BTC while it's on 9800 mark price.  


EDIT: I used this https://bitaccelerate.com/ accelarator website in my previous pending transaction. It will rebroadcast your transaction to the 10 mining pool that they have connection. You can use the site every 6 hours until it receives 1 confirmation.

[The Cryptovator]

If I am not wrong this problems happening after the Halving. Most likely some miners stop mining since reward become half as a result hash rate dropped rapidly and transaction become high. That's the reason it's taking time to confirm your transaction and fees become more higher. I don't know which wallet are you using, if you have control of your private keys then likely you could speedup your transaction by increasing fees. For that you have to use the wallet who support increse fees like Electrum.

This can be considered as real transaction accelerator (but have issues):

• https://www.viabtc.com/tools/txaccelerator/ - issues: Limited to 100 free submissions per hour | minimum of 10sat/B

Agreed. This would work for OP if he have problem but have to continues try since it's free.

[Pmalek]

People are to worried about getting a quick confirmation and go into panic mode if their transaction hasn't confirmed fast enough. Only a small part of the people actually need that fast confirmation, the rest can just use lower fees and wait 3-4 days. It's not the ideal solution but why the hurry if you are just moving the coins to one of you private wallets meant for storage?! 

[aioc]

This is the reason why I used ethereum. ETH has fast transaction speed than Bitcoin. Withdraw fee is less in ethereum. The lowest withdraw fee in for Dogecoin. Also, the shit coin withdraw fees are less.

I can't ever leave Bitcoin even if the fee is high I can store it, but this pandemic made me trade it on fiat and the fee that I incur is way too high from the past transactions I've had in the past to my local exchanger, I have to add more fee or I have to wait for hours and even a day to get my transaction to confirm, I hope things will be better in the next few days.

[Febo]

i have question, why bitcoin transaction fee is to high at this time?

Halving caused it with more interest for Bitcoin and with instability with block times because of hash rate drop.  I dont understand why developers dont make difficulty adjustment more often then once every two weeks.

[NeuroticFish]

Halving caused it with more interest for Bitcoin and with instability with block times because of hash rate drop.  I dont understand why developers dont make difficulty adjustment more often then once every two weeks.

Difficulty adjustment happens every 2016 blocks, it's not at 2 weeks and if the things will continue like now it may very well take more than 2 weeks this time.

And every time there are big fluctuations in the price the mempool gets more crowded. Still nobody seems to blame the arbitrage bots.