We've seen a lot of unconfirmed transactions on bitcoin sent to us today, and I've just had a report from one customer that the bitcoin we sent him hadn't confirmed yet. My best guess at the moment is that the rise in price of Bitcoin Cash may have caused miners to switch to it temporarily due to the extra profit they can make and this caused a sudden increase in the fees needed to get fast confirms on Bitcoin.
As you can see in link below, fees for fastest confirmations have gone up: https://bitcoinfees.earn.com/
Thanks for the report!
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1 block in the last hour.. your might be onto something here.
Thanks for the heads up!
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just got another 2 blocks in the last 5 minutes..
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Hmm, makes me wonder if they might not be ping-ponging. It's all possibly coincidence, but I'm definitely seeing an abnormally large number of unconfirmed transactions. Plenty are getting through, of course, so I think it's mostly a fee issue.
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I use this page to check on the amount of unconfirmed transactions, just in case you didn't know about it: https://blockchain.info/unconfirmed-transactions
Over 105k right now.. alarming.
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I did, but it's a good addition to the post for other readers.
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this post is so informative @blocktrades ..
thanks for sharing
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The hash rate right now on BTC is like cut in half by the BCH pump... there is also a possible transaction spam flood going on also.... but that I have yet to validate... if these keeps up next difficulty adjustment the bitcoin blocks will mine like crazy I would think
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Just wrote a quick post about this issue here if you wanna see a few notes or ask me questions.... https://steemit.com/steemit/@xiobus/bitcoin-network-slows-to-crawl-btc-fees-climb-as-bitcoin-cash-miner-price-war-goes-parabolic
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Yes this is bad, hashrate is going to BCH, you can view it live here:https://fork.lol/pow/hashrate and the Bitcoin network is getting congested : https://jochen-hoenicke.de/queue/#24h, got rid of my Bitcoin for now ....
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Thanks for this info. Updates such as this are important, and very much appreciated.
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Help ----- I sent you $30 SBD (1 SBD=$1.02) and I only received $13 USD of Bitcoin ? Are your fees now 120 % ? Is this a mistake ? I send you $30 and you take $17 in fees ???
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No, mostly that cost was the fixed fee we have to pay right now to send bitcoin (it doesn't end up in our pocket, it goes to the bitcoin network), and we just pass that expense to the customer.
There's a clear warning about it in the display when you get the deposit memo, where we recommend you only send in amounts at least 5 times the fixed fee to get a reasonable exchange rate. Also, I generally recommend buying something other than bitcoin right now, unless you're just planning to hold the bitcoin. See this post for more details (it's a bit old, so the fees for bitcoin have skyrocketed even further than when I wrote the post):
https://steemit.com/blocktrades/@blocktrades/how-to-convert-steem-sbd-to-fiat-more-efficiently
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OK - Thanks ! Lesson Learned.
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Also, note that bitcoin fees are abnormally high now, due in part, I believe, to games being played by bitcoin/bitcoin cash miners, as mentioned in this post.
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OK - Thanks - I will hold off from transferring anything into Bitcoin.
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I didn't mind losing the $ 17 so much since you had recently Upvoted one of my posts with $70 + so still a big fan of @blocktrades and will do more trades as soon as the transaction fees return to normal or hopefully with larger amounts of SBD.... would you recommend minimum of $ 200 SBD ?
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Another option is to buy Ethereum or Litecoin. Most exchange support those as well.
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Yes - I have traded my SBD for both Litecoin and Ethereum and the transaction cost is almost zero. I will buy these on the dips. Thanks. You provide a Great Service here.
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At the current rates, $200 SBD might be the right amount to use, but less should be fine once bitcoin transaction fee gets back to normal. If you're ever unsure, it's best to just use the estimator, it will give you a pretty good estimate on the rate you will get.
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OK - Thanks - I have not used that tool before- I will next time.
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I see dash is no longer on blocktrades for transactions or transfers rather. What's up with this?
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it's very true friend, chances are BTC price will rise.makanya all switch to BTC so they get to the growing profit. thanks for sharing @blocktrades.
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Hello @blocktrades, I have a bit of a constraint about steem transfer as much as 50 to @blocktrades, I mistyped memo on steem transfer to @blocktrades, I typed a bitcoin memo not a memo that has been given by @blocktrades
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They are normally good about fixing this! Sometimes they are backed up but they always have made things right for me. Just thought I'd mention it so you aren't worried. If u haven't heard from them within 24 hours leave another comment.
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We actually refunded it about 7 hours ago (just after he posted I guess), but thanks for the endorsement!
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Sir please promote me
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Any plan to introduce Bitcoin Cash Exchange ?
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You can always try https://spdybit.io/ to speed up transactions.
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Thank you
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That explains why my BTC transaction has been pending with 0 confirmations for 5 hours tonight. Hopefully the price rises overnight as I sleep as a result, so I can have more purchasing power for the OMG I wanted to swap it for. Fingers crossed because I have no other choice apparently.
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I have one pending for 22 hours with zero confirmations....
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Mine went through shortly after. Hope yours has cleared. Nothing worse than wanting to make a move and being stuck. Hopefully the market price fluctuation since then has helped you??
I have a feeling that miners switching may be involved, BUT maybe also that a backlog at the "perfect" time might push more people to chase Bitcoin Cash... or so many people were already FOMO'ing to chase it by taking BTC off of cold storage into an exchange. Who knows, but interesting times!
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It hasn't gone thru yet...it's been almost two DAYS. I'm beginning to wonder about bitcoin.
Perhaps I should consider something else?
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If you're looking for a route to fiat, Ethereum is a pretty good choice: it's fast, the fees are lower, and there's plenty of places to trade it for fiat.
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That's EXACTLY what I want.
How come, why for, Blocktrades doesn't do that?
I'd purely LOVE to be able to transfer some steem to Blocktrades, have it converted to USD and deposited directly into my Credit Union account or to my ShiftCard.
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We'd love to offer it too, but US regulations require us to have a money transmitter license to do it, unfortunately. It's something we have on our list of things to do.
Coinbase, Kraken, and BitStamp all support Ethereum and have USD gateways.
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I hope that you do so and that it's a priority.
I'm on coinbase (as you know) dunno if the 'ShiftCard'(debit card) they offer works on anything OTHER than bitcoin. I've found it to be very handy...keeping it 'loaded' with bitcoin...not so much.
I'll check out Kraken and BitStamp...
Thank you.
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Thanks @blocktrades for an update. It's been 5 hours i'm still waiting of my bitcoin to be confirm. :)
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I bought Steem Power with Bitcoin 2 days ago and havent received anything in my Steemit acc yet
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Don't worry your steem power will be sent as long as your transaction has no mistake..blocktrades.us will reciave it and give it..
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Thanks man i hope so.
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wow nice work
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@blocktrades The account was not approved when the transaction was approved steem dollar
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So this could last for few days or more i think :(
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you are may be right miners may temporarily shifted
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the transactions are really slow today
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It's been 22 hours i'm still waiting of my bitcoin to be confirm @blocktrades
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That's bitcoin Blockchain being slow, how did it work out ?
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Thanks for that BlockTrades ;P
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Hello, I sent 0.027 SBD to account to blocktrades, with the memo d94c5fec-0632-467d-a1a5-abb0591e2f62, for exchange on dogecoin, but did not receive a reply. What is the problem of exchange?
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You used a bad memo
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Bitmain accepts preorder payments for their s9 asic miners in BCash. It means that all ppl around the globe who want to mine the REAL bitcoin are forced to buy this shitty clone to pay for the equipment they need. This increases the demand and its price grows. This, in its turn, leads to the fact that for some limited periods it's more profitable to mine bch, and a lot of hashrate goes there, so the real btc blocks become harder to find and this causes the delays in btc payments. But i doubt if even the creators of bch fork believe in their coin, so most of its miners are mine-and-sell, and the price will drop the other day if no mine-and-hold big guys appear.
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This is a very good financial analysis and interpretation of what is happening to the al-Bettawn al-Tikween from the great rise
Very good content everyone reported
Always outstanding
Greetings to you
@walidsalah
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Good to see add me
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i think also like that, btcc rebound high last night, maybe transaction bitcoin also slowed because with rebound high btcc, hopefully user stay patient in situation this! Thanks for information sir!
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Thanks for sharing @blocktrades
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@blocktrades, yes.. i see many unconfirmed transactions on blockchain.. Thanks for the heads up!
This post was created using STEEMP.NET poster for Windows.
For more informations about my STEEM apps, visit @steemitcore.
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Bitcoin has always had slow confirmations. Nothing new.
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Slow is relative: normally it doesn't take days. If you look at the fee chart, you can see the fees have increased quite a lot to get a quick confirmation. I just paid 0.007 btc to get a high priority 1 confirm transaction, which was costing about 0.001-0.002.
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And that's why I stopped transacting with bitcoin. Too slow, plagued with ever increasing fees and developers fights. It's ridiculous.
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Transactions with Steem make bitcoin transactions look like a joke. It's a shame there are no reasonable liquidity USD/Steem exchanges.
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Thanks for the alert. You can Resteem this post @jossylink
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Thanks for the information @blocktrades
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@blocktrades I send befor 3 hours to exchange my steem dollar on my wallet....where is it? Please check it ...Feedback please! Thanks akashas
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Thanks for crypto news
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@blocktrades can you check again please? Befor three hours I sent to you...! If it doesn’t work, send back please.
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Looks like it processed ok, it's got 4 confirms on it: https://blockchain.info/tx/1de9e9de7b3152577ba25d9f0ff6007af322340a66b4ad71bdd3111fcbc0a326
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Lots of miners out there @blocktrades
It will all confirm nonetheless.
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Hi. I sent my first ever transaction yesterday and poof, seems its lost in cyberspace. It was for 2.063 sbd. Not a lot but i was testing how it works. Can you find what happened?
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Ok it just came back. So what did I do wrong for it to fail? Thanks
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@blocktrades As of now, there are still over 79K unconfirmed BTC transactions..
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instabilties out there not so good but we'll see better cases in short time
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I just opened up a golos account. I see that you have the same system running over there. Is it possible that I can send you SBD or Steem here and you put some GOLOS or GBG into my @captainobvious account over there? I have a feeling that Golos is going to double in the near future and would like to profit off of it.
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Hi, we don't currently support GOLOS coins.
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Why no dash ? I used blocktrades to buy dash days ago but now it's gone
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Our dash wallet was temporarily down due to a clock skew issue, it's back up now.
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Ok thanks for getting back to me.
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I sent 19.958steem dollar to your account by my mistake. Can I take my 19.958 steem dollar? This is my all of steem dollar.
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Hello sir, I sent 19.958steem dollar to you by my mistake. I forgot memo. Can I receive my steem dollar? I'm so sorry about this. thank you.
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Thanks for information
Good job @blocktrades
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Thank you for information
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Hi I just transferred 147.577 Steem to @blocktrades without first going to coinbase. I want to get it back send the Steem to my bitcoin
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refunded
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Hello. How are you doing?
I opened the Seoul Steempark in Korea
I will continue to promote Steemit in the future.
https://steemit.com/seoulsteempark/@roychoi/kr-project-opening-of-seoul-steem-park-in-korea
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my steem power was decreasing suddenly ..n now it was 10 power.plz help me
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@blocktrades Is there a delay when sending STEEM to blocktrades to be deposited in coinbase? I sent a request with bitcoin address 9 days ago, and nothing has shown up in Coinbase, and nothing has been returned to my account here. I'm a little apprehensive about sending another request. Any suggestions?
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please help me..i have transfered my money but this is what happened.
https://steemit.com/steemit/@earltizoy246/why-oh-why-need-help-please
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Hi Guys, I used blocktrades to buy Steem Power. The transaction has been confirmed but nothing has been added to my Steemit Account ??
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@blocktrades
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