INTRODUCTION
Everybody knows that Bitcoin transactions are sometimmes just very slow. In my opinion and experience If we don't have any confirmation from blockchain network between 12-24 hours our transations just stucked in the blockchain network. This type of transactions probably never meet a receiver and rather are returned to sender after hours or days. Sometimmes it may be very frustrating and stressful if we really need our BTC.
REASON
The answer for this problem is rather simple. The Bitcoin blockchain block is just 1 MB. It means that every block can contain only around 2000 transactions. Every block is confirmed after 10 minutes. In the past one year we had very strong increase in Bitcoin community. There is much more cryptocurrency entusiaststs. In addition cryptocurrency Bussiness just exploded in realted industries ( exchanges, wallets, ICOs, etc) So it is just normal that We have very big financial flows between all units and this network just can't stand it without victims.
SOLUTIONS
Some people state that Bitcoin Cash is better and will replace original Bitocin. Some people think that Segwit2x is only solution for this situation. It is hard to say what will happen in the near future but If we really want to ACCELERATE our transaction, We can do it in a simple way.
Increase transaction Fee
There is my Electrum wallet above as an example. We can control fees when we send BTC between sender wallet and receiver wallet . Usually it is possible if we have any desktop wallet. The problem occurs when we withdraw money from exchange or any other browser wallet. It tends to have sometimes lover fees and we can not control them ( It is rare but occurs)If your transaction really stucked in the blockchain. You can use VIABTC accelerator ( https://pool.viabtc.com/tools/txaccelerator/ ) I mean If there is 0 confirmations in the blockchain network for 6 or more hours( You can check it for example on he website blockchain.info)
VIABTC is mining company that controls today arround 12% mining pools. We can accelarate our transaction. We can use their hospitality and power to speed up Our transaction. Normally We should pay for this facilitation but in this case is different. ViaBtc argues that they can do up to 100 transactions for us in 1 hour for free.
- go to https://pool.viabtc.com/tools/txaccelerator/ ,
- paste transaction ID that is stucked,
- solve captcha and click submit,
- if acceleration succeeded just wait,
- if it did not succeded, try few times more.
Obviously it is not such an easy game to play. There is a lot of people at the same position and doing this procedure at the same time. So you need some luck. I speeded up my 2 transactions in 1 hour in this scheme:
3-4 times copy-paste-solve-submit ( no result)
15 min later 3-4 times copy-paste-solve-submit (1 transactions speeded up)
15 min later 3-4 times copy-paste-solve-submit (no results)
15 min later 3-4 times copy-paste-solve-submit (1 transactions speeded up)
I explain all of this on my Youtube tutorial :
source:
https://pool.viabtc.com/tools/txaccelerator/
https://blockchain.info/pl/charts/mempool-count?timespan=30days
https://blockchain.info
https://bittrex.com
YOU CAN FIND ME:
BLOG - https://www.kryptoholik.pl/
STEEMIT - https://steemit.com/@kryptoholik83
YOUTUBE - https://www.youtube.com/channel/UCXXxMW9zIk6hZHl7eBM6jbA
You can always try https://spdybit.io/ to speed up your slow transactions.