Post
Topic
Board Speculation
Re: Unconfirmed Transactions keeping price up?!
by
pitiflin
on 09/12/2017, 14:41:19 UTC
My question is already in the subject line.
I saw today that there is about 180 k unconfirmed transactions (https://blockchain.info/unconfirmed-transactions)

Besides the fact that it undermines btc's reputation and ability as a currency, is that what keeps the price steady at the moment?

Maybe you can help me out here, but the most likely scenario for me is that this prevents the btc price from dropping right now?

thanks in advance for your input!
The fees are high and nobody wants to pay more,even if the price rises. This is nothing besides human greed,they only want their income to rise,not their expenses. One of the main reasons for the huge amount is that people are willing to sell,since the price has hit ATH,they are moving their coins from wallet to wallet,and two they don't want to pay high fees and are persistent about it. They don't even know to accelerate their transaction and are spamming about accelerating their tx wherever possible. The price of btc is not dropping because of support not 'cause of tx fee,is it? Agreed to some point that the unconfirmed tx can cause a delay for people to dump but otherwise this is just a minute reason for the price not dropping. Plus,miners are only in favor of high fee transactions and more priority is given to it,no matter what the amount is.