a block quickly, it's important that you include a sufficient miner fee. Fees are High Because Transaction Capacity Has Become an Artificially Scarce Resource. Even though Core has modified (some would say subverted) the original vision of Bitcoin, there are reasons why it still can succeed. The bad news is that this network traffic may produce delays of a few hours to a few days for some users and a wait time of weeks for a small number of users. I know I have waited for 2-3 hours myself for a transaction over the last month, and this seems like it can be avoided, but you will have to be proactive, and not all wallet providers give you this flexibility. Maybe you havent noticed it, but I know I have. Ultimately, I think people do want peer to peer money and in time will understand what that means.
Why does Bitcoin have Ridiculously High Fees and Slow Confirmations? If youve tried to use Bitcoin recently, youve probably noticed its getting expensive. The average fee spiked as high as 9 recently. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money.
Bitcoin too slow confirmation
Without this artificial limit, there could still theoretically be a scarcity for transaction space, but it would be purely market driven (based on the willingness of miners to produce bigger blocks.). Here is a chart showing current fees per byte - and it thinks that a current fee of 200 Satoshis per byte or 45,000 satoshis per typical 226 byte transaction will get the job done. Bitcoin is defined in its seminal whitepaper as A Peer-to-Peer Electronic Cash System. BUT, bear in mind that BTC is getting more and more popular, and currently the high price is generating interest and there are a lot of people trying to do transactions. They are high by design. If your bitcoin transaction to a BitPay merchant has not confirmed yet, you will need trabajar por internet 10 hora to wait for it to be confirmed by bitcoin miners. The, bitcoin Core developer capacity roadmap says: there is a lot of activity ongoing related to non-bandwidth scaling mechanisms. We'll continue to post here on the BitPay blog as we make progress. Heck, I paid 12 a few days ago and still had to wait hours. For your transaction to be considered fully confirmed by most BitPay merchants, your transaction will need to have six confirmations.
Or, take sidechains, which are alternate blockchains. Basically the BTC infrastructure is swamped with transactions - there is a block mined every 10 minutes or so (usually - sometimes 20-30 minutes) and that will confirm between 2500 to 3000 BTC transactions. Source : fo so theoretically, you get your first confirmation in somewhere between 0-19 minutes, and then that set of transactions contents will be confirmed by subsequent blocks every 10 minutes or so - so to get to 6 confirmations takes 6 blocks or around. What is a non-bandwidth scaling mechanism?