When long comfirmations becoming a major and a long term problem, what to do??!!

[magd 5231]

Long transactions and assurances are a very big problem and miners are not responsible for most of those assurances. They are trying hard to speed up transactions. In my opinion, the solution can be provided by the agency responsible for each currency.

[Yunusalemu 0]

wow i am so very happy to read this very article jof yours it is quite packed with a whole tones of information, about the topics at least now i too can brag about what to actually do in other to fix long confirmation. thanks for posting this. 

[teminalibug 309]

On 4/11/2020 at 8:38 PM, Adrian Adkins said:

If mining activities are cut in half, I think that many small miners will stop their activities, as Bitcoin mining will no longer be profitable for them. Of course, if bitcoin prices rise to very high prices, this is not necessary.

So when they stop mining would it cause the transactions confirmations to take too long or not confirmed at all, because i  heard that miners are the ones casing long confirmations.

[Rezort 846]

It simply happens because of the huge popularity of bitcoin that was not actually ready for it at all, so the best we can do is to trade bitcoin and then make transaction in some different crypto.

[Ridam 7455]

Yes i have read about the same problems before too and there is some issue in particular blocks of btc so the transaction takes longer than usual, and at that time we should keep patience for the confirmation as it's the only way we could do at that time.

[Upright 2688]

That's why we are dealing on coins which are of the proof of work protocol, all transactions would have to validated by the activities of the miners, as I don't really know if every coin whose transactions are to be processed, are by the activities of the Miner's, as I know that not all coins are being mined to increase their supply

[Brand1 1336]

The reason for the slow transactions is due to the stoppage of a large number of computers that confirm the operations from working, but fortunately these computers have returned to work and the transactions started to be completed quickly and I am sure that the transactions will be very fast in the future because of the large number of computers that will be used

[iloveyobit 6599]

I also have the same thinking, what if the miners around the world stop mining and from it the confirmation of transfers will stop and the field will not return any benefit, are there any solutions?

[CryptoMaxim 3829]

My opinion on this is that I believe that over time if the price of bitcoin will not rise and halving after a limited time is inevitable. Then the Commission for transfers will grow.

[ProjectJourneyman 170]

ETH is suffering from the same problem of high transaction fees as the network gets clogged.  I see that as a sign that it's not the right technology.  Although ETH is working on an upgrade, there are better options already.  In the BTC world, people are just forking the code and creating competing clones.

The best option is a more scalable coin that combines the best of the newer features of chains.

I think NRG does this, but I'm not intending to shill it in this post.  Just saying BTC isn't the best crypto anymore.

[Whited35 15285]

Miners set priority for those transactions which has higher fee it means if users have paid really a small transactions fee, more time may be required for transactions to be confirmed from the miners. Not only the case of Bitcoin, I am noticing the same things on Ethereum network. 

[ProjectJourneyman 170]

Honestly, for as much as BTC miners get paid if they can't push out sufficient transaction speed it's because the limits of the BTC design (and PoW) have been hit.  The amount of computational effort per transaction is crazy inefficient.

[George10 9932]

Yes as a crypto user I encountered such challenges before where transaction fees becomes so high and having some delays in blockchain confirmations and this does worry many though we do trust the miners but it's not just comfortable to have a transaction not confirmed for a long time hope such issues must be worked upon and be improved.

[Raqeebzy 6456]

On 3/9/2020 at 6:20 PM, teminalibug said:

If you have been in crypto world for long enough you sure have experienced those times when the fees of bitcoin went very up and also

transactions taking more than 2 days to get confirmed. It was never a big problem because we were sure than miners would finally get to our transaction and confirm it it was just on a long list.

 

But what id that happens then miners get no reason ti mine transaction getting stuck and fees become too high, what worse eventually miners get a reason to quit, maybe it become very unprofitable, especially after the halving or is just banned.

 

Do we ever think about that? by the way is that possible or not?

Confirmation might takes more than required but at long run, it will be confirmed because miners will keep on mining although some miners with less sophisticated hardware might need to quit because of the mining difficulty. In the long run, halving will definitely because of the  pump that might follow, new will keep coming in an unconfirmed transactions can be dealt with.

[Calvinpriva 17296]

Long transactions are very bored, but i don't know why this happens. Maybe those miners are getting small commissions as you said and thats why they take time to confirm our transactions.

[Dmasked 1840]

Confirmations do take a lot of time  sometimes but that is only because only about 6 to 7 transactions are processed per second. That coupled by a lot of pending transactions, delays the processing time to days. And about the bitcoin mining not being profitable, i donot think that would be a problem. After each halving the mining difficulty increases and the rewards decrease which may and will cause some small time miners to shift to other bitcoin forks but with the increased price and increased transaction fees, that would not be much big of a problem.

[Yomose 3704]

14 hours ago, Calvinpriva said:

Long transactions are very bored, but i don't know why this happens. Maybe those miners are getting small commissions as you said and thats why they take time to confirm our transactions.

The main reason for longer confirmation time and transactions trapped in mempool is because of low transactions fee, if taking longer, there are sites that the donor can increase the fee to make the transaction faster. 

[Jaysen0104 536]

It is a big problem to everyone if they experience slow transaction with the high fees. So that you need to choose the right and legit exchange or wallet that can serve you to have fast transactions.

[Trader21 1199]

23 hours ago, Jaysen0104 said:

It is a big problem to everyone if they experience slow transaction with the high fees. So that you need to choose the right and legit exchange or wallet that can serve you to have fast transactions.

That is really indefinite that none can predict what will happen. But to tell the truth it will be so bad to see changing from low fees to high fees of transaction. Maybe as you said we must try choosing exchange, which has low fees. 

[Saj555 2250]

Bitcoin blockchain sometimes gets slow and criticised due to the higher amount transactions or withdrawals. That is a very frustrating thing to experience. But whenever you do any kinds of withdrawal like this you need to have patience. And the fees are low in some of the exchange platform. Use those for the transactions and withdrawal for a better experience. Try to withdraw in partly number of btc. 

[BitcryptoHan 2557]

On 6/20/2020 at 11:39 AM, Shakib Al Hasan75 said:

Bitcoin blockchain is sometimes slow and critical due to excessive transactions or withdrawals.  It’s very frustrating to experience.  But you need to be patient whenever you withdraw this kind of thing.  And some of the exchange platforms have low fees.  Use them for transactions and withdrawals for a better experience.

If you transfer with high transactions fee, the transaction takes less than $15 minutes before confirmation, but some use low transaction fee to the extent that some like to edit the fee. 

[Teminali69 1081]

Then there fact that crypto are fast in transactions would lose meaning, but that kind of problem does not happen on all coins just some of them. Coins like XLM and XRP are very fast.

[BitcryptoHan 2557]

2 hours ago, Teminali69 said:

Then there fact that crypto are fast in transactions would lose meaning, but that kind of problem does not happen on all coins just some of them. Coins like XLM and XRP are very fast.

It depends on the transaction fee for bitcoin, because bitcoin is the most used, that is why this question is important, and the time for a transaction to complete takes an average of 10 minutes, but some edit the fee so low that it will be trapped in mempool. 

[gourav789 2834]

sometime this is happen , but transcation is pending more than 2-3 day's . This is really look strange . maximum time I wait for transaction is 8 hour .

I think everyone should wait or increased Transaction speed for complete your transaction .

[satella17 65]

On 3/9/2020 at 11:20 AM, teminalibug said:

If you have been in crypto world for long enough you sure have experienced those times when the fees of bitcoin went very up and also

transactions taking more than 2 days to get confirmed. It was never a big problem because we were sure than miners would finally get to our transaction and confirm it it was just on a long list.

 

But what id that happens then miners get no reason ti mine transaction getting stuck and fees become too high, what worse eventually miners get a reason to quit, maybe it become very unprofitable, especially after the halving or is just banned.

 

Do we ever think about that? by the way is that possible or not?

the feeds go up with the coins and if it is something bad that but with the delfi they are going down a lot