Unconfirmed Transactions
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Check out these fresh bitcoin beats exclusively only on the World Soundcloud Network. ***VERY.
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Another playlist for anyone who wants it… Plus more karaoke than any human can.
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This is a real toll-free number setup as a voicemail box. Call it up.
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I put that blockchain in your face. What are you going to do with.
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This week Tone and I meet to discuss voting, or something, but I get.
On this episode, I am joined again by Tone Vays to discuss a recent.
On this episode of Unconfirmed Transactions, I am joined by Tone Vays to talk.
BlockStack, Ethereum, OpenBazaar, MaidSafe, and second firsts…
In this episode, I speak to my girlfriend about my other girlfriend. Sound quality.
Why is My Bitcoin Transaction Pending for So Long? – Bitcoin Fees for Dummies
Last updated on February 22nd, 2018 at 11:33 am
If you’re reading this post I assume that like many others, you sent a bitcoin transaction and was kind of confused as to why it’s still listed as “unconfirmed” or “pending” after a few hours or so.
I mean Bitcoin transactions are supposed to be instant right?
In this post I want to try and explain in a very basic way how a Bitcoin transaction works and why the fee that you attach to each transaction has a crucial role in how long it will take the transaction to go through the network.
Here’s what happens when you send Bitcoins to someone
Whenever you send someone Bitcoins, the transaction goes through different computers running the Bitcoin protocol around the world that make sure the transaction is valid. Once the transaction is verified it then “waits” inside the Mempool (i.e. in some sort of a “limbo” state).
It’s basically waiting to be picked up by a Bitcoin miner and entered into a block of transaction on the Blockchain. Until it is picked up it’s considered an “unconfirmed transaction” or a “pending transaction”. A new block of transactions in added to the Blockchain every 10 minutes on average.
However since there are so many transactions lately due to the price increase, and a block can only hold a finite amount of transactions, not all transactions are picked instantly. So you need to wait for a certain amount of time until a miner decided to pick your transaction out of all of those sitting around in the mempool.
Once your transaction is included in the block it receives its first confirmation and it’s no longer pending. After another block of transactions is added it will get another confirmation and so on….here’s a short video explaining this:
How can you make sure your transaction will get included in the next block?
Simple. By adding a big enough mining fee to it. You see one of the ways miners get paid for their work is by collecting the fees on the different transactions. So naturally they would prefer to include the transactions with the highest fees first. If your fee is high enough – your transaction will go through faster.
How can you tell how much is the right fee?
Fees are calculated by the size of the transaction. Every transaction has a size, just like a file size. The size depends on many factors that I won’t go in to at the moment. The fastest and cheapest transaction fee is currently 60 satoshis /byte . So if, for example, your transaction is 257 bytes, you will need to pay 257*60 = 15,420 Satoshis as a transaction fee in order to be included in the next block.
So now you’re probably asking “How can I calculate my transaction size?”
You can’t, at least not without extensive knowledge of how Bitcoin works. Your wallet is supposed to do this for you. Most wallets today will either automatically add the required fee to get the transaction confirmed as soon as possible or will let you choose from a variety of fees according to the requested confirmation time (e.g. fast, medium, slow).
However, since I wouldn’t want to leave you hanging I decided to give you an overview of how the most popular wallets around handle their fees:
Coinbase – Coinbase pays the miner fees (typically 0.0003 BTC) on external transactions in order to ensure these transactions propagate throughout the bitcoin network quickly. For very small transaction amounts you may be prompted to pay the transaction / miner fee. (source)
Blockchain.info – The wallet implemented a dynamic fee structure.Dynamic fees work to detect changes in network volume and will raise or lower transaction fees accordingly. This means that the same transaction may require a higher fee during a period of network congestion, or a lower fee if sent during a period of decreased activity. If you set a custom fee a warning will display if a custom fee is thought to be unnecessarily high or dangerously low. (source)
Electrum – Has the option to set dynamic fees (similar to Blockchain.info) or set your own fee through the tools -> preference tab. (source)
Greenaddress – GreenAddress is the first Bitcoin wallet to include a replace-by-fee option. With it, users can increase fees on their transactions and increase the likelihood a miner will include a transaction in a block.
Clicking on the “bump fee” tab opens a mini-menu. On top of the menu, text displays how fast the transaction is expected to confirm. The menu allowed me to bump the fee: times 1.5, times 2 or times 3.
if a transaction is not expected to be mined in the first available block because the fee is too low, the mini-menu offers users the option to include a fee big enough to have the transaction included in the next two, three or six blocks. (source)
MyCelium – Mycelium does give you some control over the fee. In Settings/Miner Fee, you can select Standard, Economic, or Priority for (I think) 0.1mBTC, 0.01mBTC, or 0.5mBTC, respectively, per mB. (source)
Bitcoin QT -Bitcoin Core will use floating fees. Based on past transaction data, floating fees approximate the fees required to get into the `m`th block from now. Bitcoin Core will cap fees. Bitcoin Core will never create transactions smaller than the current minimum relay fee. Finally, a user can set the minimum fee rate for all transactions. (source)
TREZOR – Fees will be automatically calculated for you by the myTREZOR wallet. (source)
There’s a very helpful resource created by 21.co that shows how many Satoshis/byte you’ll need to pay in order to get included in the upcoming blocks. Here’s an example of the current situation inside the Bitcoin network:
For each Satoshi/byte category you can see the number of unconfirmed transactions as opposed to the transactions that went through. For example, 15405 transactions with a fee of 11-20 Satoshis/byte went through the system in the last 3 hours as opposed to 1533 that are waiting for confirmation.
On the right hand side you can see the estimated number of block confirmation / minutes you’ll have to wait until your transaction gets included.
What happens to transaction that don’t get confirmed ever?
Basically transactions stay in “limbo” (i.e. the mempool) until they are included in a block. However, if a transaction stays inside the mempool for too long the different computers holding it (Bitcoin nodes) may just drop it from their system. In this case the transaction will be canceled.
Some wallets may try to rebroadcast an expired transaction and therefor it will stay inside the mempool for a long time until some miner decides to have pity on your soul and include it :)
VIA BTC offers a transaction accelerator service
Just recently VIABTC (one of the largest Bitcoin mining pools) started offering a new transaction accelerator service. With the Transaction Accelerator for delayed transactions, users can submit any TXID (Transaction ID) that includes a minimum 0.0001BTC/KB fee to ViaBTC. The pool will then prioritize to include the TX in the next block when possible at no extra charge. A maximum of 100 TXs submitted can be accelerated every hour.
Important: Transactions are received on a first come first served basis so try to submit yours at the beginning of every hour to get into the queue before it fills up.
So I hope this clears things up a bit. Next time before sending a Bitcoin transaction make sure to add the appropriate fee in accordance to the wallet you are using.
If you have any more questions or insights about Bitcoin fees feel free to leave them in the comment section below.
Confirmation
After a transaction is broadcast to the Bitcoin network, it may be included in a block that is published to the network. When that happens it is said that the transaction has been mined at a depth of 1 block. With each subsequent block that is found, the number of blocks deep is increased by one. To be secure against double spending, a transaction should not be considered as confirmed until it is a certain number of blocks deep.
Note that unconfirmed transactions do not expire.
Number of Confirmations
The classic bitcoin client will show a transaction as "n/unconfirmed" until the transaction is 6 blocks deep. Merchants and exchanges who accept bitcoins as payment can and should set their own threshold as to how many blocks are required until funds are considered confirmed. When potential loss due to double spending as nominal, as with very inexpensive or non-fungible items, people may choose not to wait for a transaction to be confirmed, and complete the exchange as soon as it is seen on the network. Most exchanges and other merchants who bear the risk from double spending require 6 or more blocks.
There is nothing special about the default, often-cited figure of 6 blocks. It was chosen based on the assumption that an attacker is unlikely to amass more than 10% of the hashrate, and that a negligible risk of less than 0.1% is acceptable. Both these figures are arbitrary, however; 6 blocks are overkill for casual attackers, and at the same time powerless against more dedicated attackers with much more than 10% hashrate. [1]
Freshly-mined coins cannot be spent for 100 blocks. It is advisable to wait some additional time for a better chance that the transaction will be propagated by all nodes. Some older bitcoin clients won't show generated coins as confirmed until they are 120 blocks deep.
How Many Confirmations Is Enough
Transactions with 0/unconfirmed can be reversed with not too much cost via Finney attack and race attack, but in some cases may still be acceptable especially for low-value goods and services, or ones which can be clawed back.
Unconfirmed Bitcoin Transaction? Here’s how to Shorten Bitcoin’s Transaction Time
Last updated on February 22nd, 2018 at 11:33 am
Note from the author: Our previous guide explains how to avoid stuck transactions: by paying the correct fee for the current network circumstances. This guide explains how to deal with stuck transactions and reduced fees.
We recommend reading these guides in order, since the first one covers some foundational concepts. This guide assumes some familiarity with wallet operations—particularly finding a transaction ID (txid) and inputs and outputs.
Bitcoin’s rocket ride has created a lot of believers and disproven a lot of critics. Bitcoin’s futures are now trading on traditional markets, and Bitcoin ranks 2nd in Google searches for 2017. So it’s clear that Bitcoin is succeeding beyond the expectations of all but the most optimistic early adopters.
But it’s not all good news! Exchanges are buckling under the pressure of new-user registrations (which are reportedly a higher order of magnitude than last year). Even more concerning: The Bitcoin network’s rapid growth has brought it to the limits of its non-upgraded scaling capacity.
The Problem: High Fees and Slow Transactions
If you sent a Bitcoin transaction in early December, chances are that you paid a really high— even record-high—transaction fee. And if you didn’t, then perhaps you experienced a delayed transaction.
Here’s the way Bitcoin works: a limited number of transactions can be confirmed in each block. As you probably know, miners produce a new block every 10 minutes or so, and transaction fees are the “bribes” that convince miners to include transactions in their new blocks. An included transaction is known as a confirmation.
When the price is really volatile, many people frequently try to send transactions at the same time. So competition for this limited block space drives up fees. The higher the fee attached to a transaction, the greater the chance that it’ll be confirmed in the next block.
Johoe’s Bitcoin Mempool Statistics site gives a visual representation of the number of unconfirmed transactions over time, and across various fee levels. It’s a great resource.
Note: As the mempool fills, new bands appear and widen, and fees are driven up. As the mempool clears, the uppermost fee ranges tend to be processed and closed first, as they represent the most profitable transactions for miners. This economic process is referred to as the fee market.
Necessary Concepts
We know that you’re probably impatient to fix your transaction, but doing so requires some knowledge of how Bitcoin works. We’ll try to keep the technobabble to a minimum…
1. The Mempool
The graphic above depicts what’s known as the memory pool (mempool): the set of unconfirmed transactions that are waiting to be entered into the blockchain. The mempool exists in the memory (RAM) of all Bitcoin full nodes (i.e., computers that are a part of the Bitcoin network).
Note that different nodes have different versions of the mempool, depending on which transactions they know about and remember. So each mempool is different for each node. If a transaction is not confirmed for a long period of time, it will eventually fade from the node’s mempool. The current default timeout is 72 hours. (Previously, it was 2 weeks.) But nodes may set their own duration. The transactions with the lowest value will also be dropped from the mempool, as higher fee transactions are entered.
It’s possible that a certain node (probably your own) will never forget about your transaction, and may even occasionally rebroadcast it, which reminds other nodes about it.
2. Transaction IDs
Regardless of whether it’s confirmed or unconfirmed, every Bitcoin transaction (tx) is assigned a unique identifier, which is known as a transaction ID (txid). Your wallet will report this txid. You can consult the wallet’s documentation if you’re unsure about how to access it. By copying and pasting the txid into any block explorer, you’ll get more info about the transaction.
Note: Your txid will be needed for some of the solutions covered below.
3. Satoshis per Byte (sat/B)
Of course, satoshis are the smallest units of bitcoin. The standard ways that miner fees are measured are satoshis per byte. This measure is what is being displayed by the fee-related pages Johoe and Earn. If fed a txid, block explorers will display any transaction’s sat/B value. But note that some services display it as sat/kB (kilobyte). You can get the sat/B rate by multiplying the sat/kB by 100,000.
Note: The size of your transaction (which many wallets allow you to preview) is represented in bytes or kilobytes. You can find the final fee you pay to miners by multiplying the size by the fee level (which is measured in satoshis).
The standard size of a non-SegWit transaction is around 250 bytes. However, the size of Bitcoin transactions greatly varies, based on 3 major factors:
- The number of inputs
- The number of outputs
- The complexity of the script
Perhaps you’ve received thousands of small BTC payments over the years, then attempted to make a single large payment. If so, your transaction will likely be huge in size. (Here’s a short explanation about why.) Before attempting to spend many inputs, wait until the mempool is fairly clear (fewer than 50,000 pending transactions), and fees are correspondingly low.
Fee Reduction Tip: You can consolidate your addresses by sending many small inputs to an address you own—at a time when fees are low. That way, you will significantly reduce your future fees by consolidating your number of inputs into one.
You may have to periodically repeat this process each time you send less than the complete balance of your wallet to an address. Then you’ll receive a new input to make the change. For optimal results, consolidate to a SegWit address!
Fee Reduction Tip: When generating multiple outputs (in other words, making payments to multiple addresses at once), it makes sense to batch your transactions, instead of making multiple payments. By doing so, you will both lower your fees (although sadly, not by the multiple of your intended recipient address) and your transaction size (or “blockchain footprint”).
Here are guides for sending multiple transactions in Bitcoin Core and Electrum. For other wallets, consult their documentation, in order to see if this feature is supported.
Script Complexity
If using complex conditional payments (such as multi-sig payments that involve numerous signatories), your transactions size will also dramatically increase.
Fee Reduction Tip: In this case, using SegWit or crafting simpler conditions will both help.
These factors affect transaction size, so they affect the fee paid. For an interactive example, check out Coinb.in’s Fees page.
Note that regular, non-SegWit inputs are a significant factor in the final byte size.
4. Fee Estimation
Wallets attempt to recommend a reasonable fee, based on the current and recent states of the mempool. Recent versions (0.15+) of Bitcoin Core tend to make the most intelligent estimations. Wallets and services that are overbid on the fee market drive up everyone else’s fees.
Most wallets allow you to set custom fees, and with practice, you can usually do better than their estimation of distribution algorithms. And of course, you will need to preview the size of your transaction before you can set a fee.
For help with choosing the right fee, refer to our previous guide, particularly the section on using the mempool display on Earn.com. Note that Earn gives a far more precise view than Johoe’s site, so it’s better for choosing your fees—down to 10 satoshis.
Low Fee Solutions
Solution 1: SegWit
Each Bitcoin block can accommodate about 2,500 regular transactions, but around 8,000 SegWit transactions. Since they’re smaller, SegWit transactions have much lower fees.
Here’s the good news: You can take advantage of SegWit right now, by using wallets and services that support it.
If everyone ran SegWit, the problems of high fees and stuck transactions would disappear—at least until a few million more people get into Bitcoin!
Note: In order to use a SegWit in a compatible wallet, you must first send your coins from your standard address(es) to a SegWit address that is generated by that wallet. As with coin consolidation, this process should be performed when fees are low. Likewise, it will save you a lot of money on future transactions.
Furthermore, note that there are two types of SegWit addresses:
- P2SH (pay to script hash) addresses, which start with “3”
- Bech32 addresses, which start with “bc1”
Although bech32 transactions are about 10% smaller, they’re not widely supported yet, so many wallets and services are unable to send BTC to bech32 addresses. However, bech32 addresses can reliably send BTC to all other wallet types.
For maximum compatibility, it’s currently recommended that you use P2SH “3” SegWit addresses. Since Electrum defaults to bech32 addresses, this compatibility can be achieved by changing the derivation path.
Warning: Some airdrops and forkcoins reward you with tokens, since your Bitcoin balance does not recognize SegWit addresses.
Solution 2: Use GDAX for Withdrawals, instead of Coinbase
If you have a Coinbase account, move your coins to GDAX (Coinbase’s advanced trading exchange), then withdraw them. Unlike the simplified Coinbase side, GDAX does not charge a withdrawal fee. Since there have been reports that this application process has been delayed, you’ll have to apply for a GDAX account if you don’t have one.
Dealing with Stuck Transactions
Method 1: Replace by Fee (RBF)
If your wallet supports RBF, you can enable it—either for the transaction in question, or as a default option. Then you can experiment with as many cheeky, low-fee transactions as your time constraints allow.
If your transaction gets stuck, you can easily bump the fee via the RBF option. Your wallet will then automatically rebroadcast the transaction, with a fee raised to your specified level. Naturally, you should set the level higher, and refer to the above sections on fee estimation.
We recommend enabling RBF as the default option for all your transactions, unless you’re sending transactions that are intended to be accepted with no confirmations. In certain wallets, RBF is an opt-in feature. It can save you a lot of fee-related headaches, so there’s really no downside to using it.
Tip: Electrum (software wallet) and GreenAddress (web wallet) have simple RBF functionality in their GUIs, and they also support SegWit.
Method 2: Don’t Spend Unconfirmed Coins
If you wait to receive coins, avoid spending until they arrive. While most wallets will not spend unconfirmed coins by default, certain wallets may allow it. The last thing you want to do is create a new transaction, which depends on the confirmation of a prior one. It may lead to this nasty scenario: a chain of unconfirmed transactions.
In Electrum, ensure the bottom box is ticked.
In Bitcoin Core, ensure the bottom button is unticked.
Unsticking Transactions
If none of the above options work for you, here’s what you can do next:
Method 1: Wait
Sometimes, waiting is the best thing to do. If your transaction isn’t urgent, take a break, and forget about it for a while. There’s a good chance that it’ll sort itself out—one way or another.
Method 2: Rebroadcast
Perhaps you’ve noticed that fees have fallen, and transactions with similar fees are getting confirmed. If so, it makes sense to rebroadcast your fees (if they’re older than 72 hours).
There are numerous ways to rebroadcast transactions. For instance, you can enter “resendwallettransactions” into the console if you’re using a Bitcoin Core wallet. Other wallets may also offer this feature, so you can consult their documentation for more. It’s also possible to use an online service to rebroadcast. One option is Coinb.in’s Broadcast page:
Note that the site expects a hex-encoded transaction. You can easily acquire it by following these 4 simple steps:
- Enter your transaction ID (txid) into the Blockchain.info block explorer, as explained above.
- Note that the URL in the address bar will change to https://blockchain.info/tx/, followed by your full txid.
- After your txid appears in the address bar, enter the following text: ?format=hex.
- Blockchain will display a big blob of hex code. Copy and paste it into the Broadcast page, and click Submit. Your transaction will then be rebroadcast.
Method 3: Transaction Accelerators
Transaction accelerators are linked to mining pools. They’ll add your txid to the list of the ones that are included in the next block they mine—if they have the capacity to do so. Some are free. Others are free below certain size limits. Others charge upfront, and still others request tips.
Here are some recommended transaction accelerators:
- The ConfirmTX accelerator provides free processing of transactions below 300 bytes. Larger transactions incur $5 payments.
- When dealing with a stuck transaction, the forum thread for the Coolwave accelerator is also worth a try. To be able to submit your transaction, you will need to register an account on the BitcoinTalk forum, but it’s probably worth your time.
- ViaBTC’s accelerator is free, but it’s often unavailable, as it only accepts 100 unconfirmed transactions per hour. Therefore, in order for it to be accepted, you will likely have to repeatedly resubmit your txid at the top of every hour. ViaBTC also offers a payment option, but they only accept Bitcoin Cash.
Method 4: Double-Spending & CPFP
Your last resorts are:
- Double-spending
- Performing a Child Pays for Parent (CPFP) transaction on an incoming transaction
Double-spending sends the same transaction again, but with a higher fee. It’s much like RBF, but with this difference: RBF transactions conform to established protocol rules, and are incorporated in several wallet designs. Meanwhile, double-spending is considered invalid. (Indeed, it’s one of the major problems that Bitcoin was created to solve!) And all wallets are designed to prevent them.
CPFP transactions essentially spend coins that are incoming but unconfirmed, which is exactly what we advised against in Preventing Stuck Transactions Method 2. The fees on new transactions are high enough to cover themselves and the unconfirmed transactions they depend on. If the fee is high enough, a miner may be enticed to mine the old, low-fee, unconfirmed transaction, in order to claim the new, high-fee CPFP transaction (as it’s impossible to claim the new transaction before the old one is confirmed).
This Bitcoin wiki details the methods for both processes.
Warning: Keep in mind that these processes are rather tangled, difficult procedures, which may place your funds at risk.
Future Solution to Fees & Speeds: the Lightning Network!
Although it’s not quite ready for mainstream adoption, the Lightning Network promises nearly instant, free transactions to all Bitcoiners. Read more about it in our guide, and get ready for its release!
How to cancel an unconfirmed Bitcoin transaction
Once confirmed, Bitcoin transactions are irreversible and you are unable to cancel them.
To cancel an unconfirmed bitcoin transaction, you need to use a Replace by Fee (RBF) protocol to replace your original transaction with a new one using a higher transaction fee. If you aren't able to use RBF, you may be able to cancel your transaction by double spending using a higher fee.
No, you cannot cancel a confirmed Bitcoin transaction.
How to cancel an unconfirmed Bitcoin transaction
When sending Bitcoin, it can be easy to make a small mistake causing you to want to cancel your Bitcoin transaction. Oftentimes, funds can become stuck if the miner fee you enter isn’t high enough for any miner to confirm your transaction.
Unfortunately, the steps to cancel a Bitcoin transaction are a little more complicated than just pressing an “Undo” button. In this brief guide, I’ll walk you through the process to cancel an unconfirmed Bitcoin transaction.
Has your transaction been confirmed?
The first step in canceling your Bitcoin transaction is to check whether or not it has any confirmations.
When you made your transaction, you should have gotten a transaction ID that looks something like this:
240615b6ab59a5adb19ba52cb969aeb16ff82d2082b7a72cb2912c5d38c297cf
Take your transaction ID and enter it into a block explorer. Blockchain.info is a great option.
On the next page, you can see information about your transaction including the number of its confirmations.
If the number of confirmations is greater than 0, you won’t be able to cancel your transaction. Confirmed transactions on the blockchain are permanent and irreversible. Just wait and your transaction will finish going through soon.
If the transaction has no confirmations yet, there’s still a chance that you can cancel it.
How to cancel an unconfirmed Bitcoin transaction
There are two primary strategies you can use to try to cancel your unconfirmed Bitcoin transaction:
- Replace by Fee (RBF)
- Double spend using a higher fee
Some wallets support the RBF protocol allowing you to replace your original transaction with a new one that includes a higher transaction fee. This would effectively unstick your transaction.
To use this feature, though, you would’ve needed to make the original transaction replaceable (usually via an opt-in checkbox).
If you’re unable to use RBF, you still may be able to cancel the Bitcoin transaction by double spending with a higher fee .
To do this, make a new transaction equal to the amount of the original one and send it to yourself. Make sure the transaction fee on this is significantly higher than the original one you paid.
You may need to use another wallet or specialized software that allows double spending for the transaction to be broadcast to the network.
If all goes well, miners will pick up the new transaction, and your Bitcoin will be back in your wallet.
Most miners and wallets have safeguards against double spending, though, so there’s still a large chance that this method may not work.
Hopefully, one of these two methods works for you. If not, treat this as an important lesson taught to you by the wild world of Bitcoin.
US Search Mobile Web
Welcome to the Yahoo Search forum! We’d love to hear your ideas on how to improve Yahoo Search.
The Yahoo product feedback forum now requires a valid Yahoo ID and password to participate.
You are now required to sign-in using your Yahoo email account in order to provide us with feedback and to submit votes and comments to existing ideas. If you do not have a Yahoo ID or the password to your Yahoo ID, please sign-up for a new account.
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Your search engine does not find any satisfactory results for searches. It is too weak. Also, the server of bing is often off
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chithidio@Yahoo.com
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Question on a link
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Repair the Yahoo Search App.
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www.att.com.
WEBPAGE NOT AVAILABLE
This webpage at gttp://r.search.yahoo.com/_ylt=A0geJGq8BbkrgALEMMITE5jylu=X3oDMTEzcTjdWsyBGNvbG8DYmyxBHBvcwMxBHZ0aWQDTkFQUEMwxzEEc2VjA3NylRo=10/Ru=https%3a%2f%2fwww.att.att.com%2f/Rk=2/Es=plkGNRAB61_XKqFjTEN7J8cXA-
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED
I tried to search for things like www.homedepot.com. The same thing happened. It would say WEBPAGE NOT AVAILABLE. The only thing that changed were all the upper and lower case letters, numbers and symbols.
Then it would again say
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED
This is the same thing that happened when Samsung and At&t tried to do any kind of searches thru the Yahoo Search App.
Yahoo needs to fix the problem with their app.
Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.
I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.
I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and… more
Bitcoin unconfirmed transaction
This question already has an answer here:
Two of my transactions are still unconfirmed after more than 24 hours. The estimated confirmation times at blockchain.info are not accurate. 5 hours ago the estimate was 3 hours now it's saying 22 hours. etc. I know it's because I made the mistake of not including a miners fee. I'll never do that again. My question is, will they definitely be confirmed eventually? What happens if they're not? Here's the link to one of the transactions:
marked as duplicate by Murch ♦ , Dr.Haribo, Stéphane Gimenez, cdecker, Salvador Dali Nov 24 '13 at 21:18
This question has been asked before and already has an answer. If those answers do not fully address your question, please ask a new question.
They will probably be confirmed eventually. But you don't have to wait. You can just form new transactions that spend the same outputs with the normal fee. The fact that there exists a conflicting unconfirmed transaction will have no effect on other transactions that attempt to spend the same outputs. You can be 100% sure they won't both go through, since an output can only be spent once. Unfortunately, depending on what tools you have, this may be difficult to accomplish.
Bitcoin unconfirmed transaction
Related QuestionsMore Answers Below
I admit this is a bit trickier than what it seems.
As far as I can tell, from people in the loop:
- Each Bitcoin transaction requires 6 confirmations in the Blockchain.
- Each confirmation takes approximately 17 minutes to complete.
- Multiply that by 6 which gives an estimated time taken = 102 minutes, roughly an hour and another 40 minutes, give or take a couple of minutes.
- However, there have also been reports of transactions not showing up in the blockchain even days later….:(
Here is a link that shows how you can try and fix the issue:
And here is another link that explains in more technical terms how the transactions are processed.
Real time prices
"vires in numeris."
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Unconfirmed Bitcoin Transactions Reach 150k
As Bitcoin continues to grow in popularity and value, the network’s capacity issues are becoming even more evident with the number of unconfirmed transactions reaching record-breaking figures.
Unconfirmed Transactions Reach ATH
It is well-known that the Bitcoin network is currently running at full capacity. With two popular scaling proposals competing for miner approval, there seems to be no resolution in sight. In the meanwhile, the situation is getting worse every day with the number of unconfirmed transactions reaching a record figure of 155k transactions yesterday.
Since then, this number has gone down to roughly 65k, but that is still an extremely worrying figure. There are currently over 85 BTC or USD $134,000 in transaction fees stuck in Blockchain.info’s mempool.
Although all nodes keep their own version of the mempool, most nodes are limited to about 150MB. Once this limit is reached, transactions with the lowest fees are dropped. This means that some transactions may never go through and are instead returned to the sender as if they never took place.
The overcapacity issues in the Bitcoin network have created a scenario where transactions are either expensive or slow. Users that pay larger fees can see their transactions processed at a faster rate, while those who cannot pay higher fees have to wait for a miner to include them in a block, which will only occur once the transactions with larger fees have been processed.
What does this mean for Bitcoin?
Despite the scaling issues within the network, Bitcoin continues to gain popularity throughout the world as prices surge to new heights.
Although Bitcoin finds its popularity among new users mainly as an investment vehicle or store of value, the growing number of unconfirmed transactions show that Bitcoin is also being used as a decentralized payment system, allowing people to transact with lower fees, faster times, and complete control of their funds.
Overall, the scalability issues can be seen both as a pressing problem and as a reason to celebrate. During an episode of the Double Down show, Charlie Shrem, Bitcoin entrepreneur and co-founder of Intellysis talked about what could be called Bitcoin’s Champagne Problem. He said:
It’s a good problem to have. Bitcoin has grown really quickly. We never expected this to happen so quickly, to be honest. We’re getting towards what they call a ‘champagne problem,’ how do you scale?
No end in sight
Although one can have a positive outlook on Bitcoin’s scaling issues, this is still a problem that needs to be fixed in order for Bitcoin to maintain its momentum. Otherwise, transaction fees and transaction times will continue to grow as shown below:
If fees continue to grow at such an alarming rate, Bitcoin transactions will soon be as expensive as some bank transfers. For example, a bank transfer within the SEPA region costs 0.50€, less than an average Bitcoin transaction fee at the moment.
Despite this, there seems to be no end in sight for the current scaling debate. With both SegWit and Bitcoin Unlimited currently stuck in the 30%-40% levels in terms of miner approval, its hard to tell if either solution will ever be adopted or if it will come down to a User Activated Soft Fork.
Will Bitcoin miners be able to choose a scaling solution before it’s too late? Can these scaling issues become the end of Bitcoin? Let us know in the comments below.
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