Bitcoin congestion
Bitcoin network congestion is becoming increasingly worse with close to 200,000 transaction's awaiting confirmation.
The reason for this is not yet known.
Miners are dealing with the transactions with larger fees first and leaving the transactions with smaller fees for a few days.
There are reports of transactions being stuck for days.
I myself sent bitcoin this morning about 13 hours ago and my wallet suggested I use a lower fee so I did and it's still pending confirmation.
Fees have also risen considerably.
This just goes to show that bitcoin has a way to go before it's ready for the masses for everyday purchases.
How do you see bitcoin?
I see it as a store of value and use other cryptocurrencies as a method of payment because in reality transactions are too slow with bitcoin. I think of it more as the gold of the future.
Good thing steem is instant huh 😀
I semi agree if BTC will ever be used in a retail market it will need to be soon.
This is a long shot but sometimes actually works the transaction accelerator here: http://viabtc.com/tools/txaccelerator/
Unfortunately it's said transactions are beyond limit
Looks like that's congested too 😂
Unless something changes, bitcoin will eventually be left behind. Bitcoin has the advantage of being first, which means it will have many chances to fix this. Eventually though, this issue will hurt bitcoin if not corrected.
Any person not knowledgeable enough about crypto, try to actually use crypto and this happens will forget about bitcoin very fast
Over 24 hours now still pending confirmation!
Yeah, that's gotta be fixed in the future somehow. It's the only mainstream adoption will ever happen.
This is the Achilles heel of Bitcoin.
If you have an unconfirmed transaction, there is an accelerator that can help, viaBTC.
Upvoted!
Thanks I'm gonna try it
Although I think that bitcoin will continue to remain a large crypto (at least in terms of market cap), the flippening is coming soon. Also, right now, bitcoin is used as an "on ramp" into the crypto market, because it is one of the few coins that can easily be exchanged for fiat currency. Soon, reliance on bitcoin as this "on ramp" will be ended.
Yeah it's the gateway to crypto