Unconfirmed Transactions, Support & Open Dialogue
Lately, there have been issues with unconfirmed transactions in the Bitcoin world. One experience I had dealing with this problem was on February 29th as I waited three days for a large sum transaction to confirm. This is the longest I’ve had to wait for confirmation. However, quite a bit of the time since then, most of my transactions have taken longer....
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When at least three miners do not confirm the Bitcoin transaction, it remains unconfirmed and unconfirmed transactions can be canceled. What happens if you send Bitcoin to an Ethereum address?Technically, you cannot send BTC or Ether (ETH) from a Bitcoin wallet to an Ethereum wallet. Most wallets will warn you if you try to send Bitcoin to an Ethereum wallet or ETH directly to a Bitcoin wallet.Bitcoin transmitted to Ethereum wallets is frequently lost and unrecoverable. Before sending BTC, ETH or any other cryptocurrency, make sure the destination address is correct. Otherwise, you risk....
Hash rate has also tumbled on the Bitcoin network. The Bitcoin network has slowed down amid Bitcoin’s (BTC) new price highs, causing a large number of unconfirmed transactions.According to mempool transaction count on Blockchain.com, the number of unconfirmed Bitcoin transactions surpassed 100,000 on Oct. 27. This is the highest number of unconfirmed Bitcoin transactions recorded since late 2017 when Bitcoin hit $20,000.The all-time high of unconfirmed transactions in the Bitcoin mempool was recorded in early December 2017, accounting for about 180,000 transactions, according to data from....
The Bitcoin network hashrate has dropped significantly over the last four days sliding from a high of 161 exahash per second (EH/s) to 90 EH/s on October 27. Today, the Bitcoin hashrate has improved a hair as the network’s security is currently hovering around 100 EH/s. However, the mempool log of unconfirmed transactions has spiked […] The....
Over the past 24 hours, the blockchain has been inundated with small, spam-like transactions that are large in data size, but significantly small in bitcoin value transferred. At the peak, there were more than 50,000 unconfirmed transactions waiting to be mined into a block, resulting in delays for normal transactions to be confirmed. While the network has been working to decrease this backlog - transactions are down to 31,000 at time of this article's writing - the type of transactions that are being sent suggest this is a continuation of a stress test that has been put on the system.....
The only viable way to bypass this backlog is for users to spend a higher transaction fee. However, that is not the "pushy" direction in which Bitcoin should evolve by any means. The past 24 hours have been somewhat turbulent for the Bitcoin ecosystem. With the number of unconfirmed transactions surpassing the 43,500 mark just over a day ago, things weren’t looking great. But it looks like the mempool is showing signs of a desperately needed decline in unconfirmed transfers. Another stark warning that the scalability of Bitcoin needs to be addressed today rather than tomorrow. It....