Bitcoin Transaction Stuck? ViaBTC Pool Will Accelerate It For You!
Yesterday we had more than 70k transactions stuck - meaning some people have to wait up to 48h to get first confirmation.
Today when writing this post there is 45k in queque.
While sending BTC consider checking fees to be used on https://bitcoinfees.21.co/
But what to do if you have sent something with too low fee already ?
ViaBTC pool have come with solution - Transaction Accelerator
Simply go to their page https://www.viabtc.com/tools/txaccelerator/
Put your TXID and fill captcha. Now when they mine new block they will try to broadcast your transaction in it.
If it works for you consider to donate them: 16ENAMhrY9nwRH63isFKjQgTf1UD173jdq
Keep it mind this is just a temporary solution not fix of the small blocks problem.
That's good of them. Thanks for sharing. Resteemed to pass the word along.
Thanks i think it may save some lives ;))
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What can we do about it ?
How is this calculation made up? Which algorithms are used?
Our good friend and many others like @carrinm have been affected and frustrated. Hope he sees this post.
It should help around 35k people right now :))
Thank you for sharing with the community. Relinked in Activism on steemit.chat.
Thanks for support :)
resteemed, good job.
Thanks man appreciated!
i will help you to push tx (transaction acceleration )Try our service contact info : https://telegram.me/emmaanjelina
Forum link
https://bitcointalk.org/index.php?topic=1937408
Heh, that is one of the reasons I am not keeping money in Bitcoin. Also nicely illustrates a lot of points that @dantheman was writing about. Seems like too much of a network effect, that Bitcoin can't process at peak usage (even if such usage is a malicious attack). :-D
I remember when there was such an attack on Steem, and the blockchain didn't buckle a bit, and it was only possible because of a bug in the bandwith throttling logic, but even then there was no problem for the common user.
Yeah this blocks are a big problem also the fees may become crazy expensive if the price gets too high
This is actually a huge stopper on the way of wider adoption of Bitcoin. As the latecomer to the cryptocurrency scene, I heard about it from time to time since 2008-2009, but I am not invested into it. But I understand its technical limitations, and they are something that stop me from investing into it. I might get a little as a store of value, but currently I think that there are much better alternatives. Steem is one of them, for PoW based blockchains I prefer Dash (and since I am working with guys on ETC based project — ETC).
hit me up on telegram or so ;)
If blockchain expands then fees will go downward not upward
its not that simple on BTC and all parties that have to get consensus
No, larger blocksize == lower transaction fees, because less competing to get into the next block.
The problem is disk space requirement. I don't think its really a problem though, 2TB drives are cheap
Very useful, thanks for this!
Quite right that this is not a solution as such ... in terms of my bus analogy getting a transaction "accelerated" simply means that next time the ViaBTC bus arrives it will allow your transaction on board instead of the transactions that are first in the queue. Of course it will break down if too many uses the "accelerator".
Still it has saved the day for quite some people until now - because sometimes it really is critical to get a confirmation on a transaction you expected to get confirmed yesterday already.
If you have an inbound transaction into i.e. Mycelium, or an outbound "partial" transaction from a wallet like Mycelium, there is another trick one can do - "Child Pays for Parent" - make another transaction and slap a high fee on it. The chain of transactions will most likely be confirmed within some few blocks. This won't work if you're receiving funds into your Localbitcoins wallet for instance, then there is nothing to do but wait ... or eventually, try and use that "accelerator".
There is the third way; arguably the best, but it requires that the sending wallet supports it in the first place, and that the feature is enabled: RBF, "Replace by fee". With RBF, one can change a transaction after it's sent as long as one applies higher fee - i.e. optimize the transaction by including more recipients or higher amounts (instead of sending multiple transactions), add higher fees to get it processed faster, or ... revert the transaction. Due to the last possibility, RBF is a politically hot potato - normally one can be reasonably sure that a transaction will get confirmed sooner or later, one can trust a 0-conf, but when the RBF-flag is enabled on the transaction, the sender can take the funds back.
What a great post! Thank you for the heads up, my friend! Awesome stuff! :)