Transaction delayed for hours on buying SBD with bitcoin and misunderstanding on my part ?

seccentral (47) in steem • 8 years ago

Heya,

I wanted to spend some bitcoin and buy close to 4 SBD , thought i'd give it a go on https://blocktrades.us/ since it worked well in reverse (SBD to bitcoin was processed very fast) . Ran into a problem: Transaction won't go through. Waiting for confirmation since yesterday now.

This is how it looks like on blocktrades:

5/12/2017 12:27 AM 0.004 BTC 0 of 1≈ 4.155 SBD seccentral

transaction ID : https://blockchain.info/tx/ca7c869d697e3d1ebd591716f74ea20384f9f3cd1ca5cf3a1caff818e86c87bc

Is this normal ? Can anybody tell me and also what's up with the ~17$ transaction that sits alonside my originally intended ~7$ ?

steem

8 years ago by seccentral (47)

$0.05

6 votes

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andu (58) · 8 years ago

your BTC transaction is unconfirmed, not been included in any block. Most probably because you used a very low miner fee and they're not happy to include it quickly. Last time I did that it took over a week to be included in a block and I think I got lucky. Other have waited many weeks.

Most probably blocktrades goes through with the conversion when there is at least 1 confirmation.

Also, ignore cryptocash. It's posting comments with cat photos all around. most probably through a bot.

$0.00

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seccentral (47) · 8 years ago

Ok, so (i'm new to this btw) when i changed almost 20 SBD for bitcoins the transaction went through in about 60 sec.
What do you mean i used a low miner fee ? I had no option to use any fee anywhere.

$0.00

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andu (58) · 8 years ago

when you are sending a bitcoin payment (depending on the wallet you use) there is a miner's fee required. If you set that miner's fee to the lowest possible, it could be they would not process your transaction with priority, sometimes taking weeks to get it processes. It sucks I know and you're not the first to get this :)

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seccentral (47) · 8 years ago

I see. Blockchain.info wallet and I saw no miner fee setting anywhere

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andu (58) · 8 years ago

on your transaction link there is a

Fee per byte 120.533 sat/B

Which is small, compared to the recommended:

Which fee should I use?
The fastest and cheapest transaction fee is currently 200 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 45,200 satoshis.

$0.00