Almost $1 Billion Worth of Bitcoins Stuck in Transaction Backlog

Almost $1 Billion Worth of Bitcoins Stuck in Transaction Backlog

An incredible sum of more than 900,000 bitcoins, worth almost a billion dollars, was stuck at one point last night, waiting to move, due to limited transaction capacity. At the time of writing, more than 300,000 bitcoins remain stuck. Luke-Jr, a developer of the Bitcoin Core client and a Blockstream contractor, publicly responded to the backlog by stating “[j]ust pay a $5 fee and it’ll go through every time.” Jameson Lopp, a BitGo engineer, publicly stated yesterday that if bitcoin’s price hits $10,000 without an increase in transaction capacity, fees will be $400 based on current data.....


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