bitcoin transaction too slow

world. Alas, Bitcoin is just as popular as ever, but the total transactions per day has levelled off, most probably because of the current 1 MB limitations. Instead, why not try Bitcoin Cash? It simply becomes a ponzi scheme/pyramid scheme/greater fools game if investors pour money into something for no other reason than they think other investors will pour money into. If the ideals that allowed Bitcoin to become popular in the first place are ignored, minimized, and disrespected, it wont end well. What Do People Really Want Peer to Peer Money? Now that Segwit has been activated, we can all see the fees are only getting worse.

Why is My Bitcoin Transaction Taking So Long?

bitcoin transaction too slow

They may be real bitcoin transactions, but you cant use them to scale the network without big centralized hubs to connect everyone (think Banking.0). Theres only 1MB of emails beantworten geld verdienen data allowed per Bitcoin block, or in other words, only 1 MB of data allowed every 10 minutes. The idea is that eventually, when these second layer systems are built, working, and adopted, then capacity will be spectacular, transactions will be fast, and fees will be low. Some major corporations wanted to spike the block size to as high as 8 MB to ease the flow. Well, you can call it moving things off the blockchain, you can call it non-bandwidth scaling mechanisms, you can call it layer 2 solutions, you can call it transforming Bitcoin into a settlement layer. I have no objection to these peoples use of Bitcoin for those purposes. They are high by design. This denotes the number of transactions in the mempool over the last 72 hours, having endured some sort of delay in processing.

Right now Bitcoin price is rising, the media loves itand it will probably keep rising in the short term. Well it could be a lot of things, but essentially it means moving transactions off the main blockchain to other systems like sidechains, lightning networks, etc. There are two big problems with bitcoin as a currency: its value is unstable and its transaction processing is too slow. Its a piddling amount of data, considering that my home internet connection has a download speed thats 420,000 greater.

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