Please click above banner as I get revenue from that

Saturday, May 13, 2017

While Bitcoin Price Hits Record Highs, Nearly 100,000 Transactions Are Stuck in a Backlog

While Bitcoin Price Hits Record Highs, Nearly 100,000 Transactions Are Stuck in a Backlog

Bitcoin is currently operating at over capacity following a significant price increase by around $600 in just one week. 100,000 transactions are now stuck, unable to move, weighing around 68MB.

That means 68 blocks would be needed to clear the backlog, taking around 11 hours, but that’s only if there are no further transactions being made in the meantime. As new transactions do come in, older ones either drop off, or keep waiting in a now longer queue.

To jump the queue, you can pay a higher fee. Vinny Lingham, co-founder of Gyft which accepts bitcoin, stated average bitcoin fees are now more than $1 and rising.

Full story at http://bit.ly/2qgkjMu

Tweet This Story

 

 

 

Donation:
If you appreciate the things I share,
consider making a contribution no matter
how small via PayPal. If you use Bitcoin you can
send donations to my Bitcoin Wallet:
12pAsyMdZoTHPvkiRAZiuQhC8bF4DLbYpQ

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.