Millions in Bitcoin stalled by unconfirmed transactions

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Certainly the stagnation of bitcoin transactions has been a problem. The volatility of the prices after $ 7,500 and then its rapid decline to around $ 6,400, add to this stagnation a rather uncomfortable moment.

Earlier this year, plans for the SegWit were activated, however it was assumed that an increase in block size to 2 MB would be made, which was and still is indispensable. The SegWit2X update sought to increase the size of blocks to make transactions much faster and, ultimately, avoid blockages in the system. Last week, however, the SegWit2X update was canceled creating a wave in the cryptocurrency community that is feeling strong.

Once the SegWit2X update was suspended, bitcoin prices fluctuated enormously and at this point they have overwhelmed the blockchain once again, giving rise to the obligatory question of what will happen if the 2MB update does not materialize?

Low-cost transactions are useless at present, as it will be weeks until they end. Trying a transaction of this type basically guarantees that your funds will not be seen for more than two or three weeks. This means that to transfer your bitcoin, you will have to increase the cost of your transaction.

Therefore, your best option if you need to make a transfer is to go to Bitcoin Fees, a website created to help determine how much time a user is willing to wait and how much they are willing to pay for their bitcoin transaction. On the other hand, the alternative to this is to try to use ViaBTC transaction accelerator. Although it is free, it is also very limited.

In general, bitcoin has seen better and alternative days like bitcoin cash and ethereum are starting to increase in value due to recent events. Without a consensus on how Bitcoin will evolve, its use will certainly be limited as currency, and this reality will substantially affect the growth of the acceptance of cryptocurrencies if an eloquent education to the public in this regard does not occur.

 

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