Having hard time buying Bitcoin
 

I purchase small amount of bitcoin but i got a notice from my provider that the network is so congested there are 160,000 pending transactions. I am not sure if it's worldwide or to their system only.

There was a small dip earlier so need to grab some bitcoin.

Bitcoin is again over $16k now and my purchase is a little useless now. :winkwink:

Yes it's so convenient...

Coinbase just sent you 0.000608 BTC (worth $9.99 USD) using Coinbase.

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They received the same bonus.

Earn more by inviting your friends with this link: https://www.coinbase.com/join/569d36c9dca944488d000409

There ya go! You, too, can earn your first $10 in BTC with Coinbase. They are responding rapidly to the increased network congestion.

there are 224686 unconfirmed transactions., this will bump the tx fees, which is bad for bitcoin users .

Or, the Miners will buy another x386 to handle the new demand. Supply and Demand economics. More transactions to confirm, more computers to process transactions they are already earning fees from. Scalability. Increased scale often lowers the price.

TDA is one of the largest stock brokers and you can't even load a chart on a high volume day there. Be prepared for the same to happen to these tiny Bitcoin exchanges.

If you have an IBAN bank account go to www.Bitcoin.de - you can buy and sell directly from your account and don't have to send money to them first (which is also much more secure)

Um, what? The transactions are backlogged because Bitcoin Core's block size is limited to 1MB, which was an arbitrary limit imposed years ago by Nakamoto to prevent a DoS. Despite being aware of the potential for overload for some time (years), the Core team refuse to raise this limit, and continue to push their Lightning off-chain settlement solutions... but that product doesn't actually exist yet. So now we're left banging hard against that limit for the next 12 or 18 months until they get their act together and release a usable product. Coincidentally many of the core members are from a company that will offer this product commercially.

This stubborn refusal to raise the block limit despite pending doom is one of the main reasons Bitcoin Cash was created.

Adding mining power will not achieve anything because Bitcoin Core is limited to 144MB worth of blockchain transactions per 24 hours.

Maybe do some research instead of just spamming your reflink in every fucking thread. :2 cents:

Yes but this is great for Bitcoin holders and bitcoin in general. Now that its harder to get what people want, it makes people want it all that much more. No wonder the value is shooting through the roof.

So what you're saying is bitcoin just failed it's test? Met it's limits? It could never handle a World of transactions?

Good advice ! :2 cents:

Stress test failed. :2 cents:

things are going great!!

going smoothly again

people should be looking into Litecoin instead. It's jumping up and cheaper.

They are working on Lightning Network which will fix all this

That really sort of defeats the intended purpose of bitcoin/blockchain doesn't it? Moving the transactions off the blockchain? So it just becomes final ledger? Looks to me like lightening becomes the fiat of bitcoin.

I will sell you BTC

this is correct .

I always kick myself in the ass over missed opportunity's. money is over rated

You mean like when porn wasn't free and hard to get your (sticky) fingers on?

It's easy.

Go through GDAX instead of coinbase. Use a bank wire transfer.

Buy Litecoin as a Market Limit purchase, pay no fees.

Transfer Litecoin to whatever exchange you want it on. It's there quickly. Exchange back to Bitcoin. Carry on with life and laugh at everyone missing the boat.

If you cant use a bank wire for whatever reason... buy through coinbase if you must... I hate their high fees... but buy litecoin instead. Then transfer it instantly to GDAX, sell litecoin, buy bitcoin, pay no fees.

Continue laughing at everyone.