Post
Topic
Board MultiBit
Re: Help... why is my bitcoin transaction from blockchain taking over 24 hours?
by
c0in3r
on 25/01/2017, 12:34:35 UTC
Hi,

With the tiny information you gave I can tell that:
* The network is very busy. The mempool (not yet processed transactions) is 37 MB instead of the usual / nice 2-8 MB.
* There's a high chance the tx fee you paid is small, much smaller than the currently recommended 100 satoshi / byte.

I recommend Electrum, where I know for sure that you can adjust the fee by hand before sending.

Edit: if you send the tx ID I can see how small your fee was. I look here to see how busy the network is and what fee I should use.
Edit2: another recommended wallet is the Bitcoin QT, where afaik you can have all the control you need (even re-send the transaction with higher fee), but I don't use that one.

Thanks for the tips, okey i realize the "fee" when doing a transaction is something i've always ignored, and it's not an option to set it in the bitcoin wallet i use, which makes me believe perhaps it wasn't a thing when i started using bitcoin 3 years ago? It appears the fee for this transaction was 0.0001 btc or 0.09$ i don't know if that's 100 satoshis or not but i guess i'm below the limit to get prioritized.

So from what i understand the transcation rates are slower these days because more transactions are occuring? That means more people are using bitcoin?

I'll look into moving my stuff into another bitcoin client for now, thanks