Post
Topic
Board Bitcoin Discussion
Re: have a question about cancel a transaction
by
EL MOHA
on 25/12/2023, 22:11:09 UTC
Difficulty adjustment right now isn't that much so if OP can simply put his TXID here, we can see if it's already confirmed or not. And depending on the fees on how low it is because it is also changing from time to time.

I don’t think difficulty adjustment has much of a thing to do about bitcoin congestion. Rather it is to adjust the average time it is expected to get a block confirmed to the default time of 10 minutes. This changes is caused by either a higher hashrate or a lower one. This adjustment helps to keep in check some bitcoin protocols like the halving period which happens every four years. The only thing that actually reduces the congestion on the mempool is when lesser transactions are made.

Also it is not just advisable to OP to just show his TXID everywhere as it can affect its privacy rather he can simply use the block explorer himself to check the status of the transaction