Blockchain delay?

Alfa1234 · 10-27-16, 02:49 AM

Originally posted by habitualwinning

Does anyone have any info or speculation on what the correlation is between blockchain logjams and the actual price of BTC rising? It seems that every time we get a major blockchain delay issue, the price goes up pretty substantially. I find that a bit odd as I don't understand why this is and it seems counterintuitive. I would think that if there was an issue and bad publicity that the price would go down but there seems to be some kind of inverse relationship going on here.

Speculation: delays cause people to hold their money in exchanges longer and start trading with the coins -> More buying?

Volume on Kraken has almost doubled last few days.

Optional · 10-27-16, 02:53 AM

Could be market manipulation by miners trying to drive up volume whilst the fees are higher too.

Dancemanmarc2 · 10-27-16, 03:27 AM

Received confirmation at 939pm Tuesday Night. So I'm going on 31 hours. As pending.
This is outrageous.

Roscoe_Word · 10-27-16, 04:11 AM

10/26 (8:00 pm eastern) Initiated transfer Blockchain > Exchange

10/27 (3:00 am eastern) transfer arrives at Exchange

Time Lapse = 7 hours

Alfa1234 · 10-27-16, 05:36 AM

Unconfirmed transactions are down to somewhat normal levels now. Delays should shorten significantly.

daveydips · 10-27-16, 06:34 AM

Mine took 36 hours.. finally went through at 5:01 am this morning!

Optional · 10-27-16, 07:56 AM

Originally posted by Alfa1234

Unconfirmed transactions are down to somewhat normal levels now. Delays should shorten significantly.

Originally posted by daveydips

Mine took 36 hours.. finally went through at 5:01 am this morning!

USA night time probably gave miners a chance to catch up?

hustlehard617 · 10-27-16, 08:34 AM

32 hrs for me still nothing

psufan · 10-27-16, 08:43 AM

Nitro must use very small fees. Got a medium priority confirmation time on a withdrawal from them. Been about 16 hours so far.

hustlehard617 · 10-27-16, 08:48 AM

Yea mine is from nitrogen as well

Alfa1234 · 10-27-16, 09:06 AM

You can see the unconfirmed list here:

BTC Mempool

https://blockchain.info/unconfirmed-transactions

The easiest and most trusted transaction search engine and block explorer.

Anything under 20k is reasonable, under 10k is fast. At the height of the delays it was almost 70k.

Optional · 10-27-16, 09:09 AM

This was posted in another thread about Nitrogen send fees today;

Originally posted by SBR Forum

Nitrogen has increased the tipping fee on withdrawals which should meet the new expectations from miners for transaction priority and reducing wait time for blockchain confirmations.

psufan · 10-27-16, 11:19 AM

Thats good news, using the blockchain wallet tho is still slow

mana21 · 10-27-16, 12:17 PM

Going on 44 hours now...

raiders72001 · 10-27-16, 12:45 PM

Originally posted by mana21

Going on 44 hours now...

Rebroadcast it.

raiders72001 · 10-27-16, 12:47 PM

Just did a blockchain to blockchain along with a Nitrogen to Bitpay. Both had a confirmations within 12 minutes.

Anyone else still having problems?

clambake · 10-27-16, 12:54 PM

Still no confirmations on one from Nitrogen. 30 hours and counting.

raiders72001 · 10-27-16, 01:02 PM

Originally posted by clambake

Still no confirmations on one from Nitrogen. 30 hours and counting.

You can rebroadcast it by adding "?format=hex" to the end of the blockchain.info/tx URL. https://blockchain.info/pushtx

mana21 · 10-27-16, 01:40 PM

Just rebroadcasted...let's see what happens

raiders72001 · 10-27-16, 01:43 PM

Originally posted by mana21

Just rebroadcasted...let's see what happens

Keep us updated.

hustlehard617 · 10-27-16, 01:56 PM

Can someone tell me how to rebroadcast been waiting 38 hrs

Optional · 10-27-16, 02:01 PM

Originally posted by hustlehard617

Can someone tell me how to rebroadcast been waiting 38 hrs

Tutorial here

The Future of Finance: Blockchain.com Blog

https://blog.blockchain.com/2014/07/08/tutorial-how-to-rebroadcast-a-bitcoin-transaction/

Stay ahead of the curve with Blockchain.com's official blog. Explore insightful company updates, blockchain and web3 industry trends, bitcoin updates, and crypto news. Discover how Blockchain.com is shaping the future of finance.

raiders72001 · 10-27-16, 02:12 PM

If you are using the blockchain.info wallet, the default fee should now work but 18 cents will guarantee.

hustlehard617 · 10-27-16, 02:15 PM

Finally got 1 confirmation

clambake · 10-27-16, 02:33 PM

I did rebroadcast mine but still nothing. I figure I will be waiting a long time since Nitrogen sent it with the .03 cent fee

raiders72001 · 10-27-16, 02:55 PM

4 transactions out of Blockchain.info today using the default they and all went through. 2 from Nitrogen went through.

Things have gotten better. Let's hope it stays that way.

mana21 · 10-27-16, 02:56 PM

My transaction finally went through (after 46 total hours).

Thanks for the heads-up to rebroadcast, raiders72001!!!

Microphone · 10-27-16, 03:11 PM

Sent from Airbitz to 5 Dimes 4 times this calendar year. My two summer ones took 10 minutes to hit. My most recent deposits are 2.5 hours and one going on 2 hours as we speak and 5 Dimes says they can't process it.

michael777 · 10-27-16, 03:16 PM

5dimes is in the wrong,no excuses accepted

clambake · 10-27-16, 03:32 PM

Mine went through after 31 hours. Thanks for the help Raiders!

raiders72001 · 10-28-16, 02:40 AM

Originally posted by habitualwinning

Does anyone have any info or speculation on what the correlation is between blockchain logjams and the actual price of BTC rising? It seems that every time we get a major blockchain delay issue, the price goes up pretty substantially. I find that a bit odd as I don't understand why this is and it seems counterintuitive. I would think that if there was an issue and bad publicity that the price would go down but there seems to be some kind of inverse relationship going on here.

Most of the time there is a correlation. The yuan hit an all time low. That along with regulations in China caused many to put their money in bitcoins. Transactions increased and the price rose.

Microphone · 10-28-16, 08:05 AM

Originally posted by Microphone

Sent from Airbitz to 5 Dimes 4 times this calendar year. My two summer ones took 10 minutes to hit. My most recent deposits are 2.5 hours and one going on 2 hours as we speak and 5 Dimes says they can't process it.

Mine (BTC deposit into 5 Dimes) ended up taking 4 hours and had 23 confirmations withing the first 20 minutes yesterday. I don't get how this works, but it doesn't seem right. I'm sure there's more to the process than I know.

ParlayKing1986 · 10-28-16, 11:29 AM

Usually gets credited after 1 confirmation with 5d....issue on their end.

eddycash · 10-28-16, 11:47 AM

I did a 5d deposit yesterday from blockchain and never got credited. Today I get on live support and let them know that I had 137 confirmations from blockchain. After a few min, 5d manually credited my account.

Plaza23 · 10-28-16, 12:37 PM

I know it's been said here to never go circle to 5d, or vice versa but I have never had a problem.

I requested $100 payout in BitCoins around 10:30 pm. 9:15AM 5d emails me to verify address. I send them verification. 11:50 they send me notice they've sent the money. I log into Circle to see a transaction coming in that was actually 101.57 in USD. I don't even need to convert the BTC to cash. It clears by 12:20 and I cash out to the debit card I have on file there. Easy process. Only issue with Circle is it takes 1 to 4 days for the money to be in your account. But for no fees, I'm good with it.

Free payout that is this quick and easy? I like it. I hope it stays like this.