CASPERWAIT$
Twitter @wernerhotdog
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Can someone tell me the advantage of Bitcoins for the USA gambler?
roguejuror
rouge
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network anomaly
I think related to this
At issue, is that when a user sends a bitcoin transaction, an extra cost is attached in the form of a fee. Effectively, bitcoin transaction fees serve as a way for users to bid to be included in a block, with that cost rising or falling with demand for space.
Adding to the current problems is that a number of bitcoin wallets use a hard-coded fee amount: 0.0001 BTC (about 4 cents). Fees determine the priority that a transaction will receive as miners bundle them into the latest block. The higher the fee, the more priority it typically receives.
Signs suggest that the commonly used amount, at least for the time being, may not be enough, which in turn is affecting wallets that are still using standard fees.
The result is that some transactions with low priority remain unprocessed, which in turn is putting added pressure on users and businesses.
follows
This week's occurrence appears to be of a different sort, involving a string of transactions with relatively high fees something that appears to be pricing out users who are using hard-coded fees that, as a result, leaving them at a disadvantage.
Users paying the standard wallet fee of 10 satoshis per byte would have to wait between five and 67 blocks for transactions to confirm, a process it estimates could take as many as 13 hours.
I think related to this
At issue, is that when a user sends a bitcoin transaction, an extra cost is attached in the form of a fee. Effectively, bitcoin transaction fees serve as a way for users to bid to be included in a block, with that cost rising or falling with demand for space.
Adding to the current problems is that a number of bitcoin wallets use a hard-coded fee amount: 0.0001 BTC (about 4 cents). Fees determine the priority that a transaction will receive as miners bundle them into the latest block. The higher the fee, the more priority it typically receives.
Signs suggest that the commonly used amount, at least for the time being, may not be enough, which in turn is affecting wallets that are still using standard fees.
The result is that some transactions with low priority remain unprocessed, which in turn is putting added pressure on users and businesses.
follows
This week's occurrence appears to be of a different sort, involving a string of transactions with relatively high fees something that appears to be pricing out users who are using hard-coded fees that, as a result, leaving them at a disadvantage.
Users paying the standard wallet fee of 10 satoshis per byte would have to wait between five and 67 blocks for transactions to confirm, a process it estimates could take as many as 13 hours.
