The price fluctuations in bitcoin space is nothing new but most times during such fluctuations the mempool tends to gets logged making transactions stuck longer than expected. Found this great tool that gives an estimate of how long it will take for transactions to confirm!
"It has been over 10 hours and my bitcoin transaction still hasn't confirmed yet...This is one of the main reasons btc has not gained mainstream adoption yet as a peer to peer electronic cash. Imagine how users & businesses feel when it takes this long to confirm."
Bitcoin transaction did not receive money, launched a complaint, how long can the money to the account?
hello everyone,Today I sold a bitcoin through paypal, but the seller did not pay for it. I complained and did not release the bitcoin. I sent an email to the customer service,I want to know how long it will take for bitcoin to return to my account
Do bitcoin transactions without an affixed miner's fee typically still get processed? If so, how long is the typical wait period?
Additionally, now that I think of it, how long is the typical wait period with the typical fee attached? And can you attach any size fee you want to offer? From these questions it's probably obvious I don't have a wallet outside an exchange yet. Was thinking of setting one up, but the total amount of fees required to go from cash to a bitcoin wallet to cash again, while understandably necessary, sure does seem discouraging. (Also while I'm at it, anyone have any non-hardware wallet recommendations? Seems like I've seen a lot of people suggesting good things about Electrum)
From an economist's perspective, how will the upcoming halving of bitcoin's mining reward affect the currency's ecosystem? The users, miners, energy consumption, security, transactions, fees, etc.? And what effect will this gradual reduction towards zero inflation have in the long term? Thanks
Edit : "reduction towards zero inflation"... and then gradual deflation due to permanently lost funds.
Ryan Walker on Twitter: "Been helping people learn how bitcoin transactions can be relatively cheap as long as they aren't URGENT. Made a decision tree to help. Until scaling solutions (lightning, schnorr) arrive you should still rarely ever pay more than $1 to transfer non-urgent transactions."
I sent bitcoin from blockchain to pax ful and since morning the transaction is yet to be confirmed and I don’t know if anyone have had such issues and please if there’s can you pleas advice me on steps to take now how long it will be
Devil's advocate: how long can bitcoin continue to grow/appreciate in value if it's continuously expensive to use? (transaction fees)
Can we please talk about this? Yes, I'm very involved in this community and I know the upgrades that are coming "down the pipeline". Imagine somebody who is just a normal person, wanting to use crypto. Why on earth would they use Bitcoin? It's an incredibly frustrating experience, as right now the network can only handle 400,000~ transactions per day on the higher end (Yes, I recognize Segwit isn't fully utilized) Long story short, does Bitcoin have enough momentum to survive until the "holy grail" of low fees on the network is reached? I've been using Bitcoin since 2013 and it's reached the point where it's just a frustrating experience. I don't even want to tell friends about it or use it personally. The only reason I'm still HODLING is because it's treated me so well in the past, and I have "that other coin" as insurance due to the fork.
How long does it takes to confirm a Bitcoin(BCH) transaction? [Lost 10$ already because of delay]
I transferred from my Local Indian exchange to Binance because prices were 10$ cheap in India, it's taking really long time more like 30 mins still not even single confirmation!!! now prices reduced more than 20$ than my buy price :( Last time I did same with XRP it was like really fast... Please tell when Will I receive in my account : 12KBkDPYXTfnoTmKnruVrjNz2GuFqGdcdX
how long is it going to take for some evil mastermind to trigger an IED thru a bitcoin lightning transaction. hmmm https://t.co/6bFgCWUPPv - Crypto Dynamic Info - Whales's
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How long before Bitcoin network can scale up to the gold stabdard of being able to accomodate 1.5m transactions per day, just like Visa does?
How long before Bitcoin network can scale up to the gold stabdard of being able to accomodate 1.5m transactions per day, just like Visa does? I believe scalability is the main issue facing btc right now, once solved the issues around speed and congestion should dissappear. Next if they can just lower the transaction fee then it really has no competitors considering bitcoins brand image.
Fun with numbers: Here is a rough estimate of how long it would take to exhaust all bitcoin addresses if a new address was used for every single transaction world wide.
So from what I can tell there are 2160 possible addresses, and from what I read there are roughly 10000 card transactions per second globally. Assuming that's not even half of the actual transactions that take place, and realizing with bitcoin there will be additional types of transactions, I will say someday we could see 50000 transactions per second. So in one year there would be 50000 x 60 x 60 x 24 x 365.25 = 1.58 x 1012 = 240.52 transactions. This means we could calculate that it could take 2160 / 240.52 = 2119.48 years to use every address. Even at 1000000 ts it would take about 2116 years. That's a long friggin' time! EDIT: I had some trouble getting the numbers to display correctly, but I think it is right now. EDIT 2: I made a math error, 2160 / 240.52 = 2119.48 EDIT 3: It should be noted that collisions will occur before this point, but due to collisions it would actually increase how long the exhaustion would take.
How long until bitcoin is the cheapest crypto to use for transactions.
Current fee is $20. Give or take. Cheapest crypto is 1 cent per transaction. This excludes zero fee cryptos as they are buggy as hell and hardly work, if at all. Open LN channel, use it for 4000 transactions, close channel. That would give us an "average" fee of 1 cent per transaction. In reality lets assume the average person does 100 transactions per channel (admittedly that number is a pure guess). For LN to be cheaper than 1 cent per transaction "on average" then fees have to drop back to $1. So with a $1 on-chain fee LN will make the "average" bitcoin payment fee 1 cent. I remember paying up to $1 for transaction fees back in 2013 / 2014. So i guess my question is, will LN adoption push fees back down to sub $1, and keep them there? Otherwise even with LN fully adopted we would still be considered to have expensive fees on average. Have on-chain transactions by other use-cases, (like data auditing, and others that require timestamping on-chain that wont move over to LN), already taken us to a level where we will never see sub $1 fees again even with LN? Edit: I guess if fees are expected to stay relatively high ($1 - $5) even after LN adoption, would it then be feasible for me to fund a channel once per month? Is it safe to permanently keep funds in LN? Is the end game here that all new users will just buy bitcoin through LN and store their funds on LN? If so I didnt know it was possible to have LN cold storage. Is that even a thing? Will we have hardware wallets that run on LN? I guess that possible?
Okay I’m new to bit coin and wanted to know how long it takes for a transaction to be complete. If I bought 1 bitcoin could I immediately sell it a few minutes later? I’m well aware of how bitcoin itself works I’m just curious about how long transactions take.
With Bitcoin taking so long with each transaction time, how is Japan getting by?
I am extremely unclear on how Bitcoin is functioning in Japan except only knowing that it is currently booming there from news sources. How often are people using bitcoin in everyday purchases? How are people paying for things with Bitcoin without having to wait 20-30 minutes for the transaction to finalize? Or are people not really using Bitcoin to buy things and just hodling?
Well, each confirmation is equivalent to the Bitcoin transaction being included in one block (grouping of Bitcoin transactions), and each block takes about 10 minutes. So two confirmations equal approximately 20 minutes. A bitcoin transaction can take anywhere from 10 minutes to over a day. Find out how long a bitcoin transaction typically takes with any transaction. Once the transaction is verified it then “waits” inside the Mempool (i.e. in some sort of a “limbo” state). It’s basically waiting to be picked up by a Bitcoin miner and entered into a block of transaction on the Blockchain. Until it is picked up it’s considered an “unconfirmed transaction” or a “pending transaction”. Fun fact: In December 2017, the Bitcoin transaction fees reached $40-$50, leaving transactions with low fees such as $1-$10 stranded. Bitcoin: The Actual Transaction Time. Apart from the two constraints mentioned above, there is a fixed computational time of 10 minutes which the miners take to mine a valid Bitcoin block. In any case, the average time a Bitcoin transaction takes for confirmation is 10 minutes, and that’s because the Bitcoin’s block timing is 10 minutes. But this isn’t true every time because your Bitcoin transaction confirmation can take up to several hours and sometimes even days after you have made a transaction. Think I am exaggerating?
How To Get Your Bitcoin Transaction Confirmed with CPFP
Today I will show you how to speed up your #bitcoin transactions using a website called ViaBTC. ViaBTC is a giant mining pool, this allows them to have huge impact when they tell their miners to ... How To Double Spend Your Stuck Bitcoin Transaction with FSS-RBF - Duration: 8:22. m1xolyd1an 88,276 views. 8:22. How to Trace a Bitcoin Transaction using a Bitcoin receiving address - Duration: ... The time it takes for this to happen is highly variable. Sometimes a confirmation can take ten minutes and sometimes more than two hours, but on average, it takes about an hour. You’ve probably... bitcoin unconfirmed transaction how long how to cancel unconfirmed bitcoin transaction how to reverse unconfirmed bitcoin transaction. Category People & Blogs; Show more Show less. Mining is a process of adding transaction records to the Bitcoin’s public ledger called the Blockchain. It exists so that every transaction can be confirmed, and every single user of the network ...