Post
Topic
Board Bitcoin Discussion
Re: I know it's a bit random
by
Md Ezaz Ahmed
on 08/07/2023, 05:19:02 UTC
I know it's random and blocks are only found on average once every 10 minutes. And there is the conformation bias, but I am beginning to think I *do* have a superpower and it's the ability to stop blocks from being found.
Sent a 6 sat/vb transaction 40 minutes ago, seconds after the last block. And now....no blocks for 40+ minutes.

And 6 sat/vb is not going to happen for 4+ blocks.

Feels like every time I send a TX with *just enough* of a fee to probably make it into the next block.

Just a Friday complaint, back to your regularly scheduled forum reading.

-Dave
I understand your frustration with the situation. It can be quite annoying when you send a transaction with a low fee and then have to wait for a significant amount of time for it to be confirmed.

While the average block time is 10 minutes, it's important to note that this time can vary. In some instances, blocks have been found every 2 minutes, while in others, it has taken over an hour. The reason for this variability is that the block time is not constant but rather depends on the amount of computing power being used for mining.

When there is a high amount of computing power being used, blocks are found more quickly. This is because miners are in competition with each other to find the next block. The miner who finds it first gets to add their transactions to the blockchain and receive the block reward.

Conversely, when there is less computing power being used, blocks are found at a slower pace. This is because there are fewer miners competing, resulting in a longer time for someone to find a block.