For this reason, at the moment I strongly recommend use of an alternative coin for anyone going to fiat(USD/Euro/etc) if their fiat exchanger supports another coin (Ethereum and Litecoin are the most likely alternatives). For more details about why you should consider an alternative coin, see my previous post that covers this subject in depth:
https://steemit.com/blocktrades/@blocktrades/how-to-convert-steem-sbd-to-fiat-more-efficiently
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Bitcoin transactions taking longer after segwit switchover
22 days ago
blocktrades69 in blocktrades
I haven't had a chance to look into this in depth yet, but I wanted to alert customers as soon as possible. We've seen bitcoin transactions taking a lot longer to confirm since the bitcoin network switched over to segwit. The lag time has been high for both incoming bitcoin from customers and our outgoing transactions of bitcoin. We have more unconfirmed bitcoin transactions than we've ever seen, and some transactions are still unconfirmed after 20 hours!
For this reason, at the moment I strongly recommend use of an alternative coin for anyone going to fiat(USD/Euro/etc) if their fiat exchanger supports another coin (Ethereum and Litecoin are the most likely alternatives). For more details about why you should consider an alternative coin, see my previous post that covers this subject in depth:
https://steemit.com/blocktrades/@blocktrades/how-to-convert-steem-sbd-to-fiat-more-efficiently
From what I've been able to read about segwit, this sounds like it's a temporary issue, and overall fees should actually drop somewhat in the coming days. But in the meantime, strategic use of a different intermediate currency could save you time and money!
Here's a link that shows how fees and transaction confirmation times have increased recently:
https://bitcoinfees.21.co/
The table on the link above can be confusing, so to make it a little simpler to understand, it's reporting 20 hour confirmation times for only moderate sized transactions for which over $4 USD equivalent worth of bitcoin were paid as transaction fees. The most unfortunate part is those reported times have only been getting worse throughout the day.
@blocktradee
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://steemit.com/blocktrades/@blocktrades/bitcoin-transactions-taking-longer-after-segwit-switchover
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You understand that Segwit works as it should is both parties have Segwit addresses who are in the transaction, right? Don't blame the unconfirmed transactions pool on that.
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Litecoin is super fast with low fees. Cheap to buy too. Atomic swaps will make it easier to exchange.
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