Bitcoin's all backed up

According to /r/btc, miners aren't doing their job and there's like 30k unconfirmed transactions. I just tried transfering coins to a market and it's been an hour and it's still only "pending" in electrum. If i increase the transaction fee, would it help?


Comments


[20 Points] None:

Needs more fiber


[11 Points] sapiophile:

It's not that miners aren't doing their job, it's that Bitcoin is at capacity. We need a larger max blocksize, and we need it yesterday.


[9 Points] droppingwhen:

Yes increasing the transaction fee will always help.


[2 Points] None:

No probs here. My transactions all went fine, 3 confs in under 30mins.


[2 Points] sapiophile:

Note that unless the party you're paying has enabled opt-in RBF (Replace By Fee) and your wallet also supports it, if you just re-send a transaction with a higher fee, you may end up paying twice, and you won't know for three days until your first transaction expires from the mempool (if it does).

This is basically the nightmare scenario that folks in the Bitcoin community have been warning about - Bitcoin is beyond capacity, and in this situation there is not much that can be done except to use a higher fee the first time. This is why I believe we desperately need a hard fork to increase Bitcoin's capacity, like in the proposed BitcoinXT, Bitcoin Unlimited and Bitcoin Classic protocols.

Just hang tight for a bit, this is likely to die down soon enough, but this transaction of yours might be in limbo for 72 hours or so. In the future, use a wallet that computes necessary fees for you, and then potentially even increase the fee a little above that. Until the hard fork happens, this is going to be the way things go, more or less.


[1 Points] idkwtfnotme:

Having the same problem, moved coin at 945 est and still no confirmations. :(


[1 Points] brightmoor:

6 blocks mined in the last hour, and 3 within the last 15 minutes. Seems normal to me.

As of 30 seconds ago it was showing just over 26k unconfirmed txns. Not the usual 9-12k I normally see it at (admittedly I only look at it a few times a month), but still nowhere near where it hit last year when they were running those 'stress tests'.


[1 Points] mtspirate:

No problems here, bought some btc from an atm this morning, first confirmation within 20 minutes.


[1 Points] Darknet_Retard:

Will this affect Circle purchases?


[1 Points] MaruchanMan:

I sent bitcoin to my DHL wallet and it's been peding in electrum for about a 36 hours or so. I just want my drugs man.


[0 Points] None:

Bitcoin needs more FIBER in its diet!!!!!!!!!


[0 Points] Vendor_BBMC:

Bitcoin is working fine. Its maximum block-size politics.

Was that marketplace alphabay? Because it's March, the month their wallet issues start.