Used Electrum, noticed the default miner fee was like $ 15 for my $ 120 payment. Manually adjusted to 90 satoshi per byte, and the calculation based on https://bitcoinfees.21.co/ at the time said it would have taken 6 hours max. 12 hours later I have zero confirmation. Couldn't add more fees to the transaction afterward….
So what happens now that my transaction isn't being mined?
Also, is this a temporary thing ($ 15 fees), or is this the new thing with Bitcoin, never had issues before with default fees and relatively low miner cost…
submitted by /u/nootnewb
I've seen a lot of questions and a lot of "GET YOUR COINS OUT OF EXCHANGES" comments. I've been looking around for some answers and stumbled upon this video (5 Min) from Andreas Antonopoulos, whom does a very good job of explaining what's going to happen and what choices you have. Hope it helps! 🙂
TL;DW: what to do
1) If you directly control the private keys to your bitcoins, you're fine: your coins aren't being invalidated or going anywhere. When the hard fork happens, you can just decide which chain you want to continue with. just HODL until things clarify.
2) If you don't control the private keys to your bitcoins (ex. on an exchange), move them to address that you control. If you don't, whoever controls your bitcoins will be deciding for you, and not all exchanges/ wallets will be supporting both sides of the fork.
submitted by /u/ChanDroid_
During the Q&A portion of a recent presentation at the Bitcoin Milano Meetup, Lightning Labs co-founder Olaoluwa Osuntokun was asked about the …
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I may be completely uneducated on the topic, but that’s why I thought I would ask. Hopefully some of your responses will help me understand both quantum computing and bitcoin mining better. Thanks!
With the current impasse that Bitcoin finds itself in, what are the theoretical and pragmatic implications of the blockchain staying at 1MB for the long term future?
Will this simply mean that transactions will take increasingly longer confirmation times? Or will there be a point where the network will simply not be able to cope with the number of transactions (if the transaction rate continues to increase). I have looked online but haven’t been able to find any answers for the blockchain illiterate that explain this.
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