All I wanted was to buy directly some Steem Power over Steemit's feature to buy Steem or Steem Power. So it's been more than 4 days since I've been waiting for a transaction confirmation over the bitcoin blockchain. I've been running my wallet online for the past few days just to be sure peers can see it.
Here's a link to the transaction:
https://blockchain.info/tx-index/974f9611608519cb3c60405857cd32abb64b1079a7b58c01560203cbb8309adf
Can anyone tell me what I did wrong, or how many days I'll have to wait for a simple transaction?
Post update: The transaction has been canceled. I lost 24 Dollars, nice!
Transaction rejected by our node. Reason: Transaction was previously accepted but has been pruned from our database.
You really need to use a site like this - https://bitcoinfees.21.co/ and work out how much to send in fees. It can be super painful if you get it wrong...
Bitcoin transactions are notorious for slow transaction times (unfortunately). Unfortunately all you can do at this point is wait. The smaller the amount, the smaller the fee, and thus the longer it takes :(
There is a site out there (I think) that will give you an estimate of how long it will take. I don't know what it is though (sorry). Hopefully someone else will see your post and know the link to the site.
This is a perfect example of why STEEM is so much better than BTC. 3 second transaction times, and zero fees - leaves BTC in the dust :)
In other words Bitcoin will be dead in a couple of years If it takes it so much time to do a simple task. I have no idea why people value it so much when it's worth next to nothing.
I've been hearing more folks talking lately about Bitcoin's use more as the "reserve" cryptocurrency and mainly thought to serve as a store of value/wealth. Other cryptocurrencies like DASH/PIVX/etc with their fast block times could likely be used for your typical micro-transactions and merchandizing applications.
And Monero for applications where privacy/security is of utmost concern.
Ethereum as a "platform" to host/support all types of crypto-related applications (i.e. DAPPs) and customized blockchain/smart-contract endeavors.
And who knows, subsequent to the success of the Steemit decentralized social-media platform, what other goodies are forthcoming on the STEEM blockchain?
Keep an eye on Litecoin. It is a early fork of Bitcoin. It is closer to SegWit and Lightning Network integration. Link to coin desk article!
Or SegWit and Lightning Network will correct those issues leaving btc still at #1. Time will tell.
I ever waited for 12 hours... Yeah, that is bitcoin.
I've always seen it as a hub for all the other crypto's.
This is why I always use Ethereum to transfer my steem into USD. Much faster. Then again, might be a lot harder to convert ETH to physical cash at this point - I'm usually eating some fees on coinbase to do so
Change the settings in your wallet to set your fees to highest. This should keep your transactions from being left out of blocks. That's about all you can do until they decide on scaling issue. SegWit and Lightning Network would correct this for btc.
Good idea, thanks.
Buying steem power with steem, can be done using the power up option, directly from your steem wallet. Why did you have to use your bitcoin wallet at all?
Because I have bitcoins I wanted to use to buy Steem Power. I know how to power up. This is a different matter.
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Yeah, it should be obvious by now that Bitcoin has failed as a currency. It's irresponsible to promote it until the worst problems are fixed.