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Bitcoin Transfers are Slow, a Lot of Unconfirmed Transactions
1 Mar2016
If you’ve made a Bitcoin transfer in the last hours you probably are wondering why it still hasn’t gone through. The reason is that that the number of unconfirmed transactions on the Bitcoin blockchain is really large at the moment, so things are moving slowly. The wait time for transactions with standard network fees could take quite some time, so be aware of that when sending payments or transferring BTC between wallets. Increasing the network fee might help in moving your transfer faster than others, but with such high number of unconfirmed transactions it could still take more time than usual. There is no very apparent reason why the number of unconfirmed transaction is over 35 thousand at the moment, so it could as well be somebody testing/flooding the network with many small transactions. Issues like that are bringing up yet again the question about the increase of blocksize over the current limit of 1 MB, even though it has been a few months since we’ve last had too many unconfirmed transactions, it is issues like these that might become more common in the future due to the small block size and larger number of transactions happening.
– To check the number of unconfirmed transactions on the Bitcoin network at the moment…
- Publihsed in: Crypto News
- Related tags: Bitcoin transactions slow, blockchain backlog, slow confirmation time, unconfirmed transactions
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4 Responses to Bitcoin Transfers are Slow, a Lot of Unconfirmed Transactions
ED
March 3rd, 2016 at 17:53
Not better today, still unconfirmed after 3h!
admin
March 3rd, 2016 at 18:32
It is better, but the number of unconfirmed transactions is still pretty high.
In order to move a transaction faster what you can do is increase the fee and thus get a higher priority in the list of waiting ones.
Chong Sai Heng
June 15th, 2016 at 19:14
My transaction been pending more than 24 hours, crazy.
What should I do now. Continue waiting???
admin
June 15th, 2016 at 20:25
When the number of unconfirmed transaction is increasing the only way to get your transfers faster is by increasing the transaction fee you pay guaranteeing a higher priority of the transaction you send, otherwise you will have to wait.