Advisory: bitcoin fees have moved up and transactions are moving slowly, consider using LTC/ETH for fiat

in blocktrades •  7 days ago

There's been a sharp increase in bitcoin fees again, so if your ultimate destination is fiat (USD, EUR, etc) and you are using https://blocktrades.us to sell Steem or SBD, then I recommend that you consider receiving Litecoin or ETH instead of BTC as your intermediate currency. This will get your money to you faster and with less fees.

We have BTC that we've sent out that is still unconfirmed after 9 hours.

A similar rule applies if you are buying STEEM/SBD. I see a lot of unconfirmed BTC sent to us right now, going back over 9 hours as well.

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Sort Order:  trending

Bitcoin:
$0000 - $1000: 1789 days


$5000- $6000: 8 days
$6000- $7000: 13 days
$7000- $8000: 14 days
$8000- $9000: 9 days
$9000-$10000: 2 days
$10000-$11000: 1 day
$11000-$12000: 6 days
$12,000-$13,000: 17 hours
$13,000-$14,000: 3 hours

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...source of that chart is zerohedge.com:

$0000-$1000: 1789 days
$1000-$2000: 1271 days
$2000-$3000: 23 days
$3000-$4000: 62 days
$4000-$5000: 61 days
$5000-$6000: 8 days
$6000-$7000: 13 days
$7000-$8000: 14 days
$8000-$9000: 9 days
$9000-$10000: 2 days
$10000-$11000: 1 day
$11000-$12000: 6 days
$12000-$13000: 17 hours
$13000-$14000: 4 hours

Surprisingly, though, Zero Hedge has not reported on the widespread price pump and manipulation going on. They'll pick up on it eventually I expect.

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wait, does that mean a transaction under 1000 USD may take effectively 5 years to process? :D

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no, he's talking about how long the price stayed at one value before it changed a lot. It's nothing to do with transaction confirmation times. The most I've ever seen a transaction take was about a month or two, and that was an extreme case where a user sent a totally ridiculously small fee.

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Haha okay, glad to hear 😆

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Staggering....

the last time this happened it took almost three days for one of my bitcoin transactions (the last one I'll ever make) to clear.
Since then I use litecoin.

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Do you think BTC will hold its value long term or will the slow processing time erode its following? I have a small LTC position but majority is in BTC.

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No clue.
Lookit the history of BitCoin
Make your own decision.
I've got no idea.

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Unless the lighting network works as promised bitcoin is done for.

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Btc is a shitcoin now with the insane fees. Ether is a better alternative. BTC will most likely go down to 9k. But with ICO's ether will continue to rise.

Is your Website down today?

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It's working fine here, just tested. Are you not able to access it?

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I cannot access from iPhone safari but I can access from chrome on android. I hope I could access again from safari because I prefer using my iPhone. 😊

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From what I've heard, you need to download a later version of Safari, the problem seems to be with an earlier version.

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hello sir plz delgates 500 30k sp power i am w8 your response

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That's what I thought. But updating iOS requires wifi which is difficult for me because no DSL at where I live. I am only using cellular data and android phone as my back up. 😊

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Its working on the other browser, thank you.

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Yeah not opening for me, I'll try a different browser .

For small amount of transaction Dogecoin is the best.. Transaction fee is only 2 Doge.. It's not even 1 cent..

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DOGE is also good, as long as your fiat exchange supports it. Most support ETH and LTC now, so that's why I mostly recommend those 2, but DOGE is a great one if supported.

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I always use bitcoin ,,so it seems that i had to change it to DOGE in next.

When I was trying to buy some crypto on another exchange, I actually swapped my BTC to LTC, sent it over, swapped back and bought. And I ended up saving quite a bit.

BTC is crap. It is expensive, archaic, full of greed and crybabies that can't make up their mind about how to make the blockchain better. And it saddens me that almost every exchange uses it as the main trading source.

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But you must also respect bitcoin for it was the first but has fallen from grace. Bitcoin still has time but .....

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I use Coinpot. It is FREE to transfer 0.0005 BTC or more (within 48 hours process). I hope it remains FREE. 😊
I use SBD to buy Steem (select market) then sell STEEM to DOGE/LTC. Altcoin conversion to BTC at Coinpot is also FREE. Will publish a blog about my first Steemit cash out as soon as I receive BTC via Coins.ph (for fiat). 👍

@blocktrades will the money come soon or late? l transferred 4-5 hours ago

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Yes, it will get there eventually, but I can't say long. Based on past experience, it's never taken more than 2 days, but I have hopes based on current fee web pages that we'll get confirms within 11 hours on everything sent out. But that depends on the situation not worsening further.

Note I'm only talking about BTC we've sent out. I've had someone send BTC that didn't confirm for a month or more because their wallet had really messed up fee calculation.

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@blocktrades , Hello I guess the problem is not over yet.

How can I get support from you?

You have Discord?

I want to order something and there is an SDB deposit limit, 44 SDB?

What doest that mean?

Hello,

Something strange just happened. @steemitedcuation was renting over 6000 SP from your exchange. We have been taking any donated steem and renting SP with it so we have done many small transactions. I just rented 3 more steem worth and the 6000 disappeared. Please advise. We do not use the SP to make a profit. We use it to vote on educational posts.

Thank you.

Hello,

I sent thi message earlier but want to make sure to clarify that these rentals were for 90 days so it is not a case of the rental expiring.

Something strange just happened. @steemitedcuation was renting over 6000 SP from your exchange. We have been taking any donated steem and renting SP with it so we have done many small transactions. I just rented 3 more steem worth and the 6000 disappeared. Please advise. We do not use the SP to make a profit. We use it to vote on educational posts.

Thank you.

@blocktrades what about steem/sbd 3s transactions i have sent to you 100 steem but didn t receive anything

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You've sent in more than the input deposit limit, so our system is unable to fill your order (our inventory of SBD is very low right now due to the ongoing pump). I will manually refund your orders, but you're in a queue with several other users who tried the same thing.

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@blocktrades no i ve sent the amount when there was a sufficient amount but it seem that i was too slow since i was using my phone well thank you for the replay and for the good services and i hope that i can get my order soon or you can just send me the 100 steem because there is no available SBD supply and thank you.

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Just saw your message here, but I refunded it a while back.

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received thank you blockades ;)

Always control the courses on blocktrades


LTC → SBD




SBD → LTC

Almost no fees...
The screenshots were taken at (almost) the same time. Do not use blocktrades for trading SBD for now. It is programmed so sofistically that the price of this currency is obviously taken from many exchanges and then they count with the best course for itself (+fees).


Thank you for your help today. I appreciate it, as I am older and it is harder to understand and keep up with the trends.

Hey there, since it is my first time I ask for no judgment from you, I consider myself as a total newbie in the crypto world. My question is : I have sent 10 SBD to convert to Ethereum in my new JAXX wallet from my wallet here and I have used your website to calculate how much is the fee and how much ETH I am buying but I am not registered user and I wanted to know is there any other way to check what is happening and how long usually does it take to make the transaction?

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Upvoting my comment with the hope I will get an answer sooner :D and I am also worried that I haven’t done something right ..

@blocktrades I transferred 34 SBD 34 hrs ago how long I wait? or will there be a possibility that you just refund it?.. thank you

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It will get there eventually (probably within next couple days), it was just sent around the time when the fees increased rapidly, so it has a lower fee on it than later transactions, so it's taking longer.

If it totally fails, we'll make you whole, but we've never had a transaction fail yet due to the fee amount, so I think it's just a matter of time.

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Thank you @blocktrades for letting me know.

Nice post

While it sucks that BitCoin is slow, I'm really glad to see some real incentive to use Litecoin. It's such an underrated currency in my opinion.

Hello @blocktrades is there a way to cancel an erroneous "transfer of savings to blocktrades" - I don't see an abilit to cancel the transaction. I was trying to transfer to savings and somehow I entered blocktrades in the "to" box.

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Ok, took me a few minutes to figure out how to do it from cmdline steem wallet, but it's on its way.

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Good customer service, bravo.

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Thanks for the speedy reply.

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No, but I can withdraw it from savings and send it back to you. I think it will take like 3 days or 7 days, can't remember the withdrawal period for savings.

This may be a part of a reason @blocktrades
NiceHash has been hacked
https://steemit.com/nicehash/@desteemy/nicehash-hacked

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I think it's not very likely. My best guess without bothering to investigate further is that BTC miners did another switch to BCH for some quick profits. If so, I think those guys are reckless.

Is there a delay on delegation leasing for STEEM today? I did one yesterday that was processed right away, but the same code today has been a couple of hours already.

Is LTC clogged or not working or something now too? I have a confirmed tx from coinbase showing the LTC I sent reached the correct address

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I think the LTC network is experiencing some issues, I keep getting error pages on block explorers and blocktrades intermittently.

First of all, thank you for writing a beautiful article. It's getting worse due to bitcoin's increase in fees. Instead of BTC you talk about ETH, I might make it very successful.

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I would not touch Eth with a ten foot pole because I keep hearing about wallets getting hacked.

Hi @blocktrades, thanks for the great information ...

The more bitcoin goes up there will be changes, you give the information at the right time and hopefully people can customize it.

This information is like a pearl on the seabed, though it's hard to say it but you are happy to share the news for all of us, thanks friends and what you do is very useful for us all.

You already know what I've got to say about bitcoin and its insane fees haha... Thanks for the update ☺

Is it smart to recive steem? And how long do you think this traffic rush willast?

Why BTC is like that? Thanks for the informative sir @blocktrades

Thnx for the heads up. Was considering another buy of steem this weekend with LTC Much appreciated. This is what Charlie Lee was talking about when it comes to transaction times lower fees. 👌🏿

Just take a look at the number of unconfirmed transactions!!

Instead of using LTC or ETH, I suggest we make full use of STEEM!! Let's make STEEM popular and FLY IT TO MARS!!!

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Very True. Doing that would aggravate STEEM also. We all want STEEM to have a Significant rate of Exchange
just as It is currently with SBD.

lots of unconfirmed transactions on bitcoin blockchain over almost 100k pending

I got a server not responding when trying to send some BTC to buy some STEEM.

ahhh good to know! I'm holding out for the long game... but it's good to know about all those hidden fees! Awesome info.

What should I do ? @blocktrades

eth is not a decentralized cryptocurrency

Man, good call. So hypnotized by my habits that I hadn't really thought about it. But it is definitely time for a switch and probably has been for some time, now.

bitcoin price spikes up and high so as the transaction fee

Unfortunately, ETH now does not go at all, transactions are not even confirmed.

Kittens killed him: (

I think Bitpay only accepts BTC

@blocktrades : my transaction ID is a220d710 and memo of eba6d5dd-3509-4dd8-abf8-b813bf142c0f is still confirmed :(

It's almost 24 hours now

@blocktrades i have send to you BTC 0.03089071 for SBD purchase but not recived yet pleaes support.

Even eth is kinda shit now

I think BTC is over-valued. I also thought so when it was $200, $50, and $10, so don't ask me. :)

huh... tnx for info... BTC is getting Hot ♨. ...

Thanks @blocktrades - you offer an awesome service. It's the only one I use for crypto transfers and on top of that you provide a great service to the Steem community specifically!

This is a good time to sell the SBD for some quick cash!

thanks for your information !

These high mining fees, aren't they an argument against cryptocurrency?
Cryptocurrency was supposed to promise fast, cheap, secure transactions-- and bitcoin is not fast or cheap anymore. Other than the scarcity angle, how is bitcoin better than US dollars again?

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it's advantage of the USD is unsensored transactions. The question is why is it better than Bitcoin-Cash, Litecoin, dogecoin or any other alternative crypto-currency? Right now it seems to be rapid deflation.

@blocktrades I haven't received my refund. Please advise.

@blocktrades I have transferred the SBD to you, but hitherto have not entered into my bitcoin wallet.

BTC is on crazy drive. ETH network is clogged. LTC seems to be better option now.

did not received delegation yet - transaction was made by @getvotes: https://steemd.com/tx/3cf3d0997763b9a94c1cea5eff6d0df0c84dc34c - please refund or send delegation

hi blocktrades, i have drop you message at steemit.chat on a fail transaction and now here. .. please assist with the refund. here is the meme 5fc6e133-5683-4bdb-b809-199035f9e1fd . thank you in advance.

please help me @blocktrades , i have sent the SBD, but hitherto have not got into my bitcoin wallet

I didn't get delegation that I paid for?

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We ran out of available SP to lease, but I've since added enough to process some other small orders like yours.

34090979All aceh
all-aceh transfer 13 STEEM to blocktrades u

fb03b4bcAll aceh
all-aceh transfer 0.779 STEEM to blocktrades 13d2983b-639a-4e98-9d11-6d845380f284
Sell bitcoin
17Swph2ybef9hKL43ua8QqZibchYaAFJN5

@blocktrades recevied @all.aceh please

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memos were wrong, so I've refunded

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I want to sell 13 STEEM to bitcoin can @blocktrades and will go into bitcoin how much. please explain a little ya friend because I just found out. currently

@blocktrades it has been two days since I tried to convert my sbd into bitcoin but still nothing.. Is that possible to get refund so I can get litecoin instead of bitcoin? here is my transaction code b66e0d16-aee9-43f9-b9b9-a4b10e5bc659

@blocktrades

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We can't cancel a bitcoin transaction after we send it, so we just have to wait for it to arrive. The most I've seen it take for any transaction we've sent is a few days.

yea until the introduction of Light speed trade technology prizes will always go up

SBD bouncing off $10 .... Good time to trade SBD for Steem.

Good post.
Thanks for information

I'm new to crypto and was a part of the recent rally. Very exciting stuff. Thanks for being a great resource!

blocktrades ,, I one day ago already sent 21 steem .. but not yet signed into my bitcoin account

@blocktrades i need Steem power and you are not having enough for now should i send money in Advance or you give instant on the time you have please let me know how to work with this thanks:)

re-steeming this cause it is really considerable of you to post it.

Many thanks for the wonderful information buddy. Shall keep in mind.
Regards Nainaz
#thealliance

I have sent 3.109 SBD for 30 days delegation. In transaction details it shows no refund ID. My transaction details are
mecurator transfer 3.109 SBD to blocktrades cb3156c1-0996-43f4-945f-266c2a9a7fa6
Please fix the issue.
Expecting your early action.

Hi @blocktrades,

I have a problem with with the delegation that i have purchase. I was not able to received them. see details : Transfer 7.000 SBD to blocktrades 371228ab-67c6-4915-965c-321b98d8a867

How do I get to grow the steem power?

Hello @blocktrades
I tried to use your service changing SBD to bitcoin
I used your service first time so i missed something.
I sent 41.143SBD on your steam wallet without memo.
I want to refund or trade about it.

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Looks like it was already refunded by our support team.

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@blocktrades
I just checked it.
Thank you! :)

thanks god, because i sent it to my ETH wallet. so there's no big problem. thanl for the good info @blocktrades

Thank you for providing information and this is very clear and transparent and so for us who still lay no longer have a thousand questions. thank you for sharing

Hi @blocktrades

I just made a little post with some screenshots about this as the bitcoin network fee was around 24% for a transfer of just 120 USD.

And as I tried to move this to LTC or ETH the amount was to small to be transfered at the Exodus wallet.

That's crazy, I found websites who take 25% fees for BTC exchange and like 15% for ETH exchange.
Thank god we have blocktrades.
Keep doing ur amazing work

In a word Great information .thanks for sharing ,sir. Please check my post and upvote me. thanks sir.

Hey @blocktrades I transferred steem to litcoin by blocktrades but I wanted to Sbd to litcoin. I made it mistake. Do you think is there any solution to take back my sbd ?

@blocktrades I was trying to transfer my sbd to litecoin but I made a mistake by choosing steem. I was meant to choose steem dollars but I couldn't do it.
Is there any chance to get my sbd back so that I can convert into litecoin? please help me, I lost my sbd for nothing..

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refunded

wow informative...

Is it you who controls the internal trading of SBD to Steem ?

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Are you asking about the internal market accessible via Steemit web site? If so, no, it's a feature of the Steem blockchain.

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Yes , Someone was kind enough to explain exactly how it works.
I will make the exchange through you next time if thats ok?
Any thoughts on making an arrangement with someone to check out accounts before they renew their lease with you?

Thanks for stopping by my blog and for your upvote. I really appreciate it @blocktrades.

I just tried 5 STEEM to DOGE and 3 STEEM to LTC and received them to my Coinpot account right away. 👍
Converting DOGE/LTC to BTC via Coinpot is FREE and transferring 0.0005 BTC or more to external wallets is FREE to date. Will blog about it as soon as I receive the 0.0005 BTC to my Coins.ph account (processing is within 48 hours).

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Hello @blocktrades, is there a way to do transaction in national currencies directly?

Great information and accurate, this is very useful and hopefully the noise is no longer a discussion, thank you for sharing and you always give the best for us.

An information that must have reached the society of steemit in particular, in order to adapt to the current situation, you always give the best and we hope will always be good

@blocktrades Could you please check my transaction? b66e0d16-aee9-43f9-b9b9-a4b10e5bc659 it has been a day.

When I was trying to buy some crypto on another exchange, I actually swapped my BTC to LTC, sent it over, swapped back and bought. And I ended up saving quite a bit

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incredible. i'll try that format. bitshare has been holding my btc for over 3 days now. i just found out its better to use blocktrades like i did. its safe and fast. i wish @blocktrades have a naira wallet. it will save us a lot.