Re: Why havent my bitcoins confirmed through blockchain after 24 hours?
So just so i know for next time... how do i control how much i donate as a transaction fee, as to avoid this problem in the future. I would be more than happy to give more in a transaction fee to avoid this.
Also im not sure what im doing wrong on transaction accelerator. Put my address in and it wont register. The box goes red
You need to put the transactionID... not your address... so use: 5bfea6cc69c229c18ef6c836063ca9e7b72d17030477aa6607e2770750f6415fAlso im not sure what im doing wrong on transaction accelerator. Put my address in and it wont register. The box goes red
its hilarious that miners dont grab every fee they can while the getting is good, those fees could be a million dollars in a few months, at the current skyrocketting size
They do... that is why the ignore the small ones and take the big ones... they only get 1 meg of space to use to put transactions into a block and currently there is 110 megs (or 110 blocks worth of transactions waiting)... This is why the "sats per byte" measurement of a fee is so important... Ask yourself, would you want 1,000,000 bytes * 400 sats/byte fees... or 1,000,000 bytes * 20 sats/byte fees?
I see. But I mean with all the miners out there they cant be doing more blocks? So that tells me theres massive growth yet for the bitcoin network if transaction fees are not gobbled up instantly no matter the amount. What will happen when blocks are no longer being mined to make coins? They will be purely transactions? Where is the size 1 meg? a block is purely transactions. Whether you are mining for generating a new bitcoin or mining transactions there is no differences. I think there just needs to be less work then on making the difficulty so huge and more work on making fees minimal, this is probobly a direction the dev's could go in. Or make the difficulty so large that its more profitable to mine transactions alone, instead of the transactions which produce a fresh bitcoin.