Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 06/02/2016, 22:01:29 UTC
Quote from: ronald98 on February 06, 2016, 08:46:33 PM
Quote from: jbreher on February 06, 2016, 07:29:18 PM
Quote from: danielW on February 06, 2016, 07:43:23 AM
We are nowhere close to "everything will suck soon" tm. You guys have been saying that for a year now btw.

Actually several years. We've been repeatedly pointing at the same stupid, unnecessary hard ceiling, and pointing out that the inexorable trend of increasing transactions has us on a clear intersect.

In the meantime, we have recently gone from things never sucking in regards to capacity, to things sucking for brief flashes of time. The issue is not how much one needs to pay to get a transaction through, the issue is that with the current block size, no more than about 350,000 transactions can be processed in a day. Period. No matter how much money is thrown at the transactions.

There have been times when I had to wait for multiple full blocks before my transactions got included in one. The time from sending the transactions to getting six confirmations was hours, not an hour like it's supposed to take. At other times when the blocks weren't full and if I got lucky getting included in a block and getting six confirmations took less than an hour. The problem's already manifesting itself, but intermittently.


I recall in the past, I had to wait for six confirmations to be able to use my coins; however, I believe that these days, I have only been needing to receive 3 confirmations before I am able to access my coins.  Maybe I need to look more closely at this as well in order to verify my own access thresholds?    Yet, so far in my bitcoin experiences, I have not really been rushed to have to move my coins a second time, once I've already moved them.  On the other hand, I understand that some other people can become more anxious, and possibly slightly less than half of the instances in which my transactions are being confirmed on the blockchain, I am sending the coins to someone else (rather than sending to myself or receiving the coins from someone else).