It looks like bitcoin transactions have returned to the new normal again since the Segwit switchover. You no longer need to pay $10 USD to get a transaction through in a reasonable amount of time and the queue of pending unconfirmed transactions have dropped back to normal levels.
To put the relative performance in perspective, over the past couple of days we were seeing Bitcoin transactions on BlockTrades that took 2 days to confirm. Similar transactions with similar fees paid are now processing in an hour or less through our system.
Here's the current report from https://bitcoinfees.21.co. Previously transactions paying fees up to 180 sat/byte were showing Inf (basically it means the confirmation guestimator had no idea how long the transaction would take). Now it's estimated 0-90 minutes for transactions in that fee range.
Bitcoin fees still aren't nearly as cheap as they used to be, however, in part because of the rise in price of Bitcoin. So I still recommend transferring reasonably large amounts when you make a transfer.
This is good news. Any thoughts on what this means for Bitcoin Cash?
Hopefully that it will triple in value in two weeks. I purchased when it was at the top for a few minutes a month back then halved its value :( sigh... nice post @blocktrades Cheers ;) @decentralization
@decentralization : I agree that You say, I assume
this is an opportunity business crypto
Or use LTC, much cheaper and faster.
I am using LTC for transactions such as moving between markets due to low fees :)
Smart steemian you are.
That's some serious word :D I singed up today :D
Hmm yeah, it is good, and mining of LTC is good and easy too :)
what kind of hardware do you use for mining LTC?
hmm ok you can find in here
https://steemit.com/cryptocurrencies/@cryptocoiners/got-some-free-coins-in-just-less-than-24-hours
I looked...I didn't see any hardware.
use antminer D3 for LTC if you want a specific hardware for mining
https://www.cryptocompare.com/mining/bitmain/antminer-d3-miner/
emm. I'll ask you for an answer
to the question @everittdmickey
I have a batch of LTC....looking to add more...a nice run of late.
@taskmaster4450 I also have Titan Miner (KNC Batch 1-300 + MH Scrypt)
I get with the price: US $ 2,800.00 in the year 2016 ago
Better yet use Steem, even faster and free.
@slavix Im agree
Dash is even cheaper and faster than LTC.
or just use Steem and never deal with transaction fees/ Why even use Any fee when you can move money around with no fee?
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True!
upvote , darling
Just use steem instead!
Exactly!
Yes the transaction fees are never free on any other coin that I know of, and steem being free to send makes steem usable as money not just as some social media site. The money thing should just be advertised first and foremost, like bitcoin, bitcoin is just seen as money and people don't need it to have a social media site that comes with it!
Support and grow where you are, it is for good reason.
it is better to use steem
edit...Thank you for your response and for sorting things.
Sent follow up message via wallet transfer:
Transfer 1.903 STEEM to blocktrades
memo.....442e8750-0849-48ea-8c1f-29887c09001
Can you confirm transaction .........cannot find at Bitshares. Please assist.
Miners are back from BCH to BTC and Segwit blocks started showing up.
its starting to sound like Segwit will become its own fork of Bitcoin now? or are we just going to have lightning network BTC transactions soon for cheap and very fast?
And will Bitcoin Core just always have incredibly higher and higher fees now?
jesus christ , bitcoin fees could get so high that any amount of bitcoin under $100 will be wiped out
has anyone ever stopped to realize how much 0.0006 BTC is when Bitcoin is $100,000 a bitcoin? its $60 ! is that a reasonable transaction fee? Damn will bitcoin core juyst stop gaining value and will new versions of bitcoin just gain all the money? will coinbase just go out of business now? or will they add the new coins? what is the current transaction fee of bitcoin cash? 24 cents? wow that sucks litecoin is muchc heaper isnt it? well since steem is the cheapest at 0 it makes the most sense
steem wins the transaction fee debate period and for this reason steem will have all the small investments of the world, people who want to transfer money freey will use steem
steem will be used as the ultimate digital money, why use anything else? its the best crypto for the masses
Are you the owner of zerohedge.com? Love the site BTW.
LTC is great alternative. :)
This post received a 1.5% upvote from @randowhale thanks to @vysmek! For more information, click here!
I just voted for you for witness. I see you've been supporting #teamcanada hard so thought u deserved it. Cheers
Great news, I love @blocktrade for the good news update, so as what will be a thought to get this on an application for much logger
Whether there is influence with the amount of exchange that we send or the effect of rice happening at the price of being up and down !
And @blocktrades thank you for information
Your article is so great, and I love it so much, if I could be like you, I would do the same ,,, @blocktrades
https://steemit.com/introduceyourself/@jasonmunapasee/perkenalkan-diri-jasonmunapasee-2017826t225425220z
please apvote me.
done!
Information about Bitcoin Network transaction speed and fees:
https://steemit.com/bitcoin/@tipu/how-to-check-bitcoin-transfer-speeds-and-how-busy-the-bitcoin-network-is
thanks for the link, very interesting
That's good to see, now hopefully wheni get my paycheck i won't be having to pay those large transaction fees i did last week. Still, I'll figure out a way too stop using bitcoin on the daily and use it more like gold. Only using to spend on large transactions, or just bag holding.
It seems clear this is the early stages of an evolutionary and revolutionary process. So exciting.
Yes it's, and I'm very that I'm part of it.
Saya baru saja membuat perkenalan diri di steemit, mudah-mudahan saja anda mau mengunjunginya
https://steemit.com/introduceyourself/@medica/introduceyourself-or-perkenalan-saya-2017829t91016635z
I like your post @blocktrades and thank you for information.👍👌😊
Hey guys I think your service is great and I really like your logo so I turned it into an animated gif. Hope you don't mind :)
And here's a post explaining how I made it which includes a selection of different sizes. Enjoy
Thanks.
@animate
PS. I've also popped you a little memo just in case you miss this reply.
From @beukahma1 to @blocktrades
I look forward to your help and support here,
please help me,
because this is my first introduction ,, I really expect this from you,
for my initial capital to play steemit ,, @blocktrades
Hello sir. @blocktrades help me please, I have bad day. My post very
@blocktrades - That is a relief to know. I lost a fair bit of money in transaction fees recently when I decided to change exchanges. at 180/byte, the fees are still high and 0-90 minutes time is not idea for quick online transactions but at least things seem to have started returning to normal. If bitcoin is to have a wider application and acceptance, this issue will need to be resolved. Of course, advent of debit and credit cards based on crypto will enhance acceptability to a large extent since the transaction times would not then matter except for that one transaction when we transfer balance to the card account.
Thanks for the heads up. Upvoted.
Regards,
@blocktrades my gf @ihatebanana still has a pending transaction that she sent over 1.5 days ago and hasn't even shown up in her wallet yet. Any help with this?
I see a transaction from her from yesterday. The bitcoin was sent and confirmed, so if it's not showing up check that her bitcoin wallet is synched.
Hi!! I send 6.400 SBD one hour ago and they haven´t appear in https://blocktrades.us/, I mean in your page the transaction is not reflected, thanks in advance for information
Hi Alex, you put your litecoin address in the steem memo field instead of the memo from our system. I've refunded your SBD, so you can try again with the proper memo.
Oh my god!! @blocktrades excuse me for my mistake!!! I feel very ashamed!!
Thanks so much!!
@blocktrades your website appears to be down, please check out, been trying to access it
Thanks, will have her check!
hi @blocktrades ! i check my bitcoin wallet , but i have not received anything.
Hi, you can see the funds were sent here: https://blockchain.info/tx/6bf1f607d5c740e6375924a6af2756bb79e9e33f49bc34f5d4bad205788590c1
Make sure your bitcoin wallet is synched up to the blockchain.
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i have not recyve my btc. my id transaction acbc7135-bde6-4ce5-bbaa-2c789ef09528
refund, thanks!!!
You didn't send enough SBD to pay the bitcoin transaction fee. I've refunded your SBD, but please read this post to trade with us effectively: https://steemit.com/blocktrades/@blocktrades/how-to-convert-steem-sbd-to-fiat-more-efficiently
@blocktrades I sent 2 transactions yesterday (one for steem $ one for SBD). No BTC received in my wallet. I was only sent 6 cents instead of $11 lol?
Please voet my comment
Yikes, my last btc transfer gave me quite a scare, took forever and yes, the fees too. I agree with the rest that ltc is way better in terms of speed and fees.
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Buy bitcoin with steam. From @steemboad. To @blocktrades. very battle his way very easily. and from steam power we're going to steam. Send it to the address blocktrades. as much as you want. will be prompted by @blocktrades but do not forget the memo @blocktrades you love. We do not fill into the memo. Thanks @blocktrades has shared a post that I really like. and can i learn how to buy bitcoin bitshares. and others. from steam and steam power.
Thanks
I wish I could get more steem but those bitcoin fees really eat at what I want to invest! So sad...
@blocktrades ! You guys are solid, the rest of the exchanges do whacky stuff, use you guys daily!
if i make a transfer of 1sbd would it be transferred? how long would it take?
That might be the Sunday effect where transactions drop.
The hashrate has moved back to bitcoincash, which means there may be delays again on the bitcoin network.
I sent $ SBD through blocktrade and I am still waiting to see it come up in my Quadriga dashboard. Question, the amount that I transferred was less than $5 could that be the reason why it has not shown up? That is the first time that I transfer that small of amount but wanted to test it. Thank you
Yes, the amount is too small. I've refunded your Steem Dollars. Here's a post that may be helpful to you when trading with us: https://steemit.com/blocktrades/@blocktrades/how-to-convert-steem-sbd-to-fiat-more-efficiently
Thank you very much, I appreciate that. I am an older person so it has been a challenge learning all the in's and out's, thanks for the patients.
Great blog by the way, I just wanted to say a big thank you very much, for the upvote on my Mix Grill blog!!
very helpful information from you. @blocktrades
good news from @blocktrades , thanks you so much
Design for you @blocktrades
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Hello @blocktrades I've recently made transfer from STEEM to ETH but didn't receive the money. I use your service frequently but something like this hasn't happened to me until now. The reference id is:
90565cc5-5883-4d10-bace-3e430e6fc6cd
Please, refund if possible. Thank you!
edit: Also, I've written to your contact email too, so if you help me here you can just ignore it.
Lingtning network is going to be added to bitcoin. then the transaction fees will be very and ver small.
Saya belum faham benar mengenai #bitcoin atau #bloktrades namun membaca artikel ini, jadi sedikit menambah ilmu. Memang semua itu perlu #introduce dan #science untuk melangkah kesana.
Terimakasih atas share nya @blocktrades.
Incredibly well-lit, lTC is faster and cheaper anymore.
I have read about eSteem application in good-karma post. Very eager for all who install eSteem application. All posts are sent makes all users steemit more spirit in using it.forgot my apvote master. @jasonmunapasee do not visit my page.
I really want to be like you, who have good articles and useful for lovers of steemit,
please help and support me, I really want to be like you @blocktrades
thank you
We work for people those who have lost all the in natural storms for them we want steem supports from you.
.
Good post! Thanks
imo btc fees get more low for micro transactions and userfriendly (stores,restaurant,shops) but when implement the LN and more compatibility with segwit the fees will not be a problem
Upvote @shamuel bloktrades
Ah finally, wellt here is always other cryptos
Didn't work. I tried the @blocktrades service to make a transaction to Ethereum. It was a small amount (as a test) and nothing appeared. Please help or refund, thanks; Memo: 88828c02-d815-4d67-a5b4-707daa5eab0c
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