Bitcoin stuck in mempool - huge transaction volume - (update-got it through)

@trumpikas
12 mo (edited)
2 Min Read
419 words

So I was trying to send some BTC today, and I noticed the fee was higher than a few days ago.
Ok, well whatever, I had to make this transaction. Chose the normal fee size. And click Send.

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Hmm and then, after a while I went to look, if it was confirmed or not and then I noticed something weird. Oh, it's stuck in the mempool. The normal fee was almost doubeled now. What? Not sure how it showed me the lower fee size. Seems it will not go through for a while. Maybe if I'm lucky in a few hours or days? Not sure how long I will have to wait.

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Mempool full of transactions

This situation is not one you would like to be, you want to move your coins and they just get stuck thanks to my mistake. Next time I will look up, what the current BTC fee is. I usually do it with Ethereum, because it's fee is changing all the time. BTC fee has been much more stable in the past months, and I have not moved it also I think.

I don't think there is even any way to speed up that transaction like in metamask you can do for ethereum. So another thing that Bitcoin is missing.

Also Bitcoin is one of the slowest cryptos even on a less busy day, usually 30-40minutes for a few confirmations. This is what we get with this old technology. :D I really like all the other cryptos with faster/cheaper transactions. Or like Hive, where there is no fee and 3s transactions.

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Bitcoin Hashrate got chopped

Does anybody know who, why or where these transactions are coming form? There's big spike in the transaction volume in Bitcoin mempool. It's not far from the mempool transaction count ATH.

btchashrate.png

Ok, after a little bit of research I saw tweets about Bitcoins hashrate fell about 40%. It's rumoured that some Chinese miners are moving the miners after a rain period. Hmm ok, so it might go back to normal soon. If I remember, I will update when the transaction goes through.

Also the price of Bitcoin is again going up a bit from yesterday.

Updated: A few hours later it got confirmed, but I think thanks to a bitcoin accelerator that I found and used. https://btcnitro.com/
Should have looked before. This thing worked like a miracle. Next time if something like this happens I will be smarter. 😉

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