Bitcoin Transactions Stuck? 40K+ Unconfirmed Sparks More Debate

Is your transaction taking a long time to get through? The Bitcoin network is currently showing over 41,000 unconfirmed transactions, reigniting the call for larger block sizes.

Also read: Still No Bitcoin Scaling Solution as April Ends Without SegWit

At press time, the “Unconfirmed Transactions” record on reports 41,211 transactions still awaiting confirmation, with that number wavering in the 40-42,000 range.

Blockchain unconfirmed Bitcoin transactions map

There have been record numbers of bitcoin transactions these past few weeks, as the price soared to over $700 USD, and many users tried to rush their bitcoins to an exchange to take profits in fiat.

Several users have complained their transactions have been stuck for six, even ten hours without confirmation — despite paying the recommended miners’ fee of 0.0002 BTC per transaction, or more.

Today, the average size for a 10-minute block of bitcoin transactions is 960k, an all-time record. Note that this size is an average, not a maximum.

Kaiko - bitcoin average block sizes

New transactions are stored in miners’ “mempool” before being packaged into blocks and validated. This chart shows one mempool recording over 8MB of unconfirmed transactions at several times over the

Read more ... source: TheBitcoinNews