I broke BTC ?

[TheGooner]

There seems to be a massive delay with BTC transactions at the moment - nearly 18000 txs and counting ...
https://blockchain.info/unconfirmed-transactions

There seemed to be a period of 3 hours when just one block was done (approx 2000 tx) ...
And now there is a huge backlog and blocks are coming slowly ... last one 26 minutes ago
https://blockchain.info/

That suggest a backlog of 8-12 hours to catch up ...
OF course - I chose this time to make my first big value transfer to the exchange ...


WTF in going on today? Any ideas ?

[wonderpunter]

There seems to be a massive delay with BTC transactions at the moment - nearly 18000 txs and counting ...
https://blockchain.info/unconfirmed-transactions

There seemed to be a period of 3 hours when just one block was done (approx 2000 tx) ...
And now there is a huge backlog and blocks are coming slowly ... last one 26 minutes ago
https://blockchain.info/

That suggest a backlog of 8-12 hours to catch up ...
OF course - I chose this time to make my first big value transfer to the exchange ...


WTF in going on today? Any ideas ?

Less miners and more action with all the latest price drops.. could be the reason, the most I have ever had to wait is an hour

[TheGooner]

Just an hour?

Then i assume that you have not been very active this week ?
I finally got confirmations at 7:26pm my time ... fully 11 hours AFTER the first transaction was made.

Current backlog is only about a block and a half now. 15-20 mins

[wonderpunter]

Just an hour?

Then i assume that you have not been very active this week ?
I finally got confirmations at 7:26pm my time ... fully 11 hours AFTER the first transaction was made.

Current backlog is only about a block and a half now. 15-20 mins

Nope I have just been sitting on everything I'm about 20% down right now.. keep waiting and it keeps dropping lol

[Sherlock]

I do not think there is a problem with miners/hashrate: https://bitcoinwisdom.com/bitcoin/difficulty
It dropped during last 2 weeks, but recovered to all time peak.

[justbookies]

I chose this time to make my first big value transfer to the exchange ...

If the exchange is kraken I'd be interested to hear how you find them and if all goes smoothly. My payments to a UK high street bank went OK and I kept transaction sums below five figures just to be safe. I then specifically opened a euro account in UK to receive payments, though at a less well-known bank, and all payments attempted from Kraken failed on basis of invalid BIC number, which it definitely is not. Last time it took 3 days and a lot of chasing to get a reply to a query - and then it was slapdash and unhelpful. This time 24hrs so far and still waiting. In my experience they are absolutely **** at customer service (and now their systems don't recognise a valid UK bank).

[hublot]

If the exchange is kraken I'd be interested to hear how you find them and if all goes smoothly. My payments to a UK high street bank went OK and I kept transaction sums below five figures just to be safe. I then specifically opened a euro account in UK to receive payments, though at a less well-known bank, and all payments attempted from Kraken failed on basis of invalid BIC number, which it definitely is not. Last time it took 3 days and a lot of chasing to get a reply to a query - and then it was slapdash and unhelpful. This time 24hrs so far and still waiting. In my experience they are absolutely **** at customer service (and now their systems don't recognise a valid UK bank).

Have you had a chance to try www.cubits.com ?

[justbookies]

Have you had a chance to try www.cubits.com ?

Is that an exchange or are they just piggy-backing off the big exchanges and adding a fee? ie: are they a broker and so the price is worse than at an actual exchange. Can't tell from their website. Not looking for a broker just an exchange that works as it should.

[elgoog]

Gooner, all fine now?

[TheGooner]

Yes elgoog - all through now - it took around 8-10 hours for the transactions to be first confirmed - and then the other confirmations came quickly.
I did another BTC transaction last night and it was first confirmed in minutes - and 6 blocks within the hour.

Justbookies - same exchange - I did a test BTC -> EUR -> bank account transfer - all complete within 48 hours.
I was surprised it took that long as it should be a same day thing? But seemed fine.
Waiting on the bigger transaction now.

[wonderpunter]

Yes elgoog - all through now - it took around 8-10 hours for the transactions to be first confirmed - and then the other confirmations came quickly.
I did another BTC transaction last night and it was first confirmed in minutes - and 6 blocks within the hour.

Justbookies - same exchange - I did a test BTC -> EUR -> bank account transfer - all complete within 48 hours.
I was surprised it took that long as it should be a same day thing? But seemed fine.
Waiting on the bigger transaction now.

Do you think you could PM me with a good exchange to use? Will be using a EU corp, I almost set one up with Kraken but with all the negative news I decided not to, you seem to have a good working exchange so it would really help me in time for AM Football season

[Sherlock]

There are negative and horror stories about any exachnge, as there are negative stories about any bookmaker. It is important to read between rows.

I am personally still using Kraken, because they are far far the biggest in EUR<->BTC by volume: http://bitcoincharts.com/markets/currency/EUR.html

For EUR<->BTC there is no other option IMO sadly. For large transaction is then only BTC<->USD remaining, but it is more hassles with USD<->EUR and with nature of USD currency that is more strictly observed. But if I had to choose something else than Kraken for BTC->EUR, I would choose Bitstamp. They have some low volume BTC<->EUR and they have also fx USD<->EUR, so the exchange is in 2 steps but under one roof. The same is possible at btc-e, but they have usually lower exchange rate for BTC (cheapest bitcoins ever) and very problematic banking.

[eaton2003]

Longest period of time I had to wait for a transaction was well over a day and the least time I had to wait for a transaction was a couple of seconds. I do not understand how it works but I find the transactions I do from CoinApult and Bitstamp seem to be quicker than others. However even though sometimes the wait can be long I have never heard of a transaction never making it.