Post
Topic
Board Bitcoin Discussion
Re: How long will this take?
by
NorrisK
on 01/03/2016, 06:59:46 UTC
The miner preference says low... Which means you have paid fees that are too low. It's not that if you pay double the fees every time, you're guaranteed to have a high priority. It all depends on the size of the transaction, and in this case the size is pretty big.

Suggested fee is 10,000 satoshi per kb, he paid 20,000 for 1.600 kb. It should be fine. The only thing I can immagine is that the transaction is made up of 7 smaller transactions and that is unpreffered by the miners (but this is also the reason for the greater size, hence the higher fees).

Yesterday I bought paypal money in exchange with btc and the deal was smooth as usual.

I sent the bitcoins and the transaction is here > https://live.blockcypher.com/btc/tx/2c8e29c797ec493df08b35b4012029445ea2bc420e32a685e6708f359a0ad5af/

Already 15 hours has passed and not a single confirmation has been done. Will this transaction reverse or just take more time than usual because of blockchain spams transactions?

I do not really think the fees is too low. Is it?

Be safe and use a .0005 fee until we get a blocksize increase.

0.0005 is way to much for a transaction like this. I've never had issues with transactions going through, no matter if I used the suggested fees. Even incoming transactions from exchanges, using less than 10,000 satoshi (exactly the suggested amount of satoshi for the size of the transaction in the ratio of 10k satoshi per kb), went through fine.

I would hold of on transactions for the moment until things settle a bit unless you absolutely have to.