Of course, this doesnt count the unconfirmed transactions that were cancelled after a few days or the number would be of several millions.
any "cancelled" transaction is broadcasted and finally propagates through the network one way or another. i currently have 1 transaction that is staying out there for about 2 weeks (just moving coins to cold storage with low fee and don't care).
so the number you quoted is the total of all of the transactions. nothing is really cancelled unless you double spend it with higher fee.
and if anything this number is bigger because of all the double spends and all the Opt in RBF transactions which makes a transaction exist more than once in the mempool because not all nodes recognize it and they will reject it while others replace it with the new one.
Currently, even paying 0.003 btc/kb (0.0007 on a 223 bytes transaction) wont grant you a fast confirmation (
https://bitcoinfees.21.co/ shows some transactions that paid this still unconfirmed: you might have to wait several hours).
yes it does. paying 300-330 satoshi per byte ensures confirmation within next block.
this is sad but true, sad because the fees have gone up a lot because of stubbornness!
And the issue isnt only the price, its also the insecurity. If you dont pay the right fee, you are stuck. Not everyone has a client with a fee calculator or knows how to use it.
i disagree with this part. being stuck is mostly users' fault specially if they are using a bad client and then because of large number of transactions and high fees and all the rest.
and i say it is user's fault because this is bitcoin and the main purpose of it is to give user full control over everything, and it is mandatory that anyone who wishes to use bitcoin needs to learn some pretty simple things. and one of those many things these days is knowing what fees are and how much is needed.
Every person stuck will swear he wont use bitcoin again. Every retailer with complaining customers will move to an alt coin.
this is sadly true!
but the worst part is that altcoins are no prize themselves. things will get way worse if any one of them is used in massive scale.
irrelevant.
altcoins are getting pumped and their marketcap is a fake number. this was explained a million times.
You were expecting this rally on bitcoin price to keep going and going in the middle of this mess? Really?
the rally is mostly traders, and also people who buy bitcoin for whatever reason! long term storage or any other form of usage. and although they would love a lower fee and no headache they will continue to do so because there is a lot more benefits to using bitcoin than just low fees.
The time is coming for us to pay the price for this chaos. Thank you, developers and miners.
Miners are having their fees party, but the music is about to stop and there wont be enough chairs for us to sit safe.
i agree.
