Bitcoin's not Sending? Bitcoin Unconfirmed Transactions OVER 100,000 as Prices Tank (My Bitcoins Have Been "pending" for Hours!)
When I first began writing this, there were only around 99,000 unconfirmed transactions but it peaked at around 100,000!
When a block just cleared, the transactions went down to around 97,000 and with 10 minute block times, 100,000 transactions equate to around an average wait time of over 5 hours!
Bitcoin's scalability issues have plagued it for a while. I found an article from June outlining the first time bitcoin's backlog did not clear in a month, where some people had waited weeks for one confirmation.
However, as more people start using and adopting bitcoin, this will only get worse. Bitcoin was originally an innovative idea by the creators with a pseudonym of Satoshi Nakamoto, with the potential to revolutionize money and payment. However, with the current day, bitcoin isn't the vision Satoshi had in mind.
Many believe that bitcoin cash is closer to Satoshi Nakamoto's original vision and thus the recent pump in price, triggered by the cancellation of the hard fork (and then uncancellation of it).
I just can't wait for a day where this speculation and volatility dies down a bit so I can go back to happily trading altcoins.
Over 100,000 unconfirmed again
My transactions have been pending for over 5 hours already, do you know why?
probably because your tx fees weren't high enough, so others get priority, something like that haha
This is the trouble with BTC, the stupid in fighting that stops any progress solving the insane TX fees and huge backlogs. 101191 unconfirmed at time of posting.
Why people opposed 2X fork is beyond me. It will be the death of BTC unless people can sort their differences and solve this
I agree, this is why so many people are moving to bitcoin cash (8mb), and even bitcoin gold.
I read somewhere about the reasons against 2x and it did make sense but i didn't understand half of it haha
It is simple. BS in fighting of keeping to the original white paper vs changing to solve the issues. Pissing competition over who appears right.
The original design was a master piece of game theory to bootstrap BTC but nobody expected it to become what it has and now the cracks are starting to show. Now at 120000 unconfirmed and climbing as people try to get out I think. I am in BCH now and enjoying the gains. If it keep growing at this rate it will overtake ETH in market cap quick.
and now 130000 unconfirmed
img credz: pixabay.com
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