PSA: Bitcoin Confirmation Times (READ)

[Copperhorse]

If you are sending bitcoin and want a confirmation within 30 minutes make sure your mining fee is at least 0.0003164 BTC ( https://bitcoinfees.21.co/ ). There is a backup of transactions right now because the maximum size of a block is 1MB. Currently the network is having a heavy load (Only expected to keep increasing as Bitcoin gets more popular and wont be fixed until 95% of miners switch over to SegWit, Bitcoin Unlimited, or something similar) so the miners are taking people who are giving them higher fee. If you put a low fee (Or no fee) expect your transaction to take multiple hours, multiple days, or even multiple weeks because there are going to be people using the appropriate fee who the miners will prioritize over you.

So please stop creating threads about how your bitcoin transactions are taking long to confirm. If they taking long it's your fault not the bitcoin networks fault.

[[MPGH]Ben]

And they will never increase the block size. q.q

[Copperhorse]

And they will never increase the block size. q.q

That's what it looks like right now, and as more people use Bitcoin the fee will keep increasing to get your transaction included in the 1st available block.

[Dynasty]

My fees are automatically calculated with blockchain wallet and they are at 0.0007241

[Confluency]

Can you give me a quick Tl;DR on Bitcoin?

What the fuck is mining it etc?

[Palesantos]

Can you give me a quick Tl;DR on Bitcoin?

What the fuck is mining it etc?

Bitcoin is like Paypal, but Unstoppable type.
Bitcoin mining is like Computer doing mathematical competition. If it mines a block (do well and get 1st), you get the grand prize ($$).

as long as fees keep increasing, it will not encourage more bitcoin users. Although considering the odds.

[Tide]

Bitcoin is very nice

[Jigsu]

how do we mine btc then ?

[CloudUser]

Accelerators can speed up the process but require a minimum fee on the transaction you made.

[RustySteel]

a better way to put this is how many satoshi you pay per byte.

right now to send your transaction quick enough without waiting too long, the fee is around 140 satoshi/byte

[Luverdark]

Thanks for posting this. Kinda got sick of those threads, people have been posting them for ages and not had the common sense to up their fees.

[MesaVerde]

And they will never increase the block size. q.q

If they increase the block size they will still get .5$ fee for life time :# :# they want it to get increased

[Arun's Ballsack Rag]

We need SegWit...