Why does my transaction take so long to confirm?

Constantin -

With the increasing transaction volume the competition between transactions have been increasing as well. While a miner fee was not always necessary, they are currently.
As miner prioritize transactions based on their fee in comparison to the space they will take up, the transaction fee should be chosen according to the transactions size. 

The Mycelium bitcoin wallet uses an Fee Estimator which provides a Fee for a transaction to be included within the next X blocks, 
the following dynamic Miner Fees can be selected within the wallet:

  • LowPriority, to be included within the next 20 Blocks, ideally within the next 3hrs20mins. Will default to 0.08 mBTC/kb if no estimation is available.

  • Economy, to be included within the next 10 Blocks, ideally within the next 1hr40mins. Will default to 0.15 mBTC/kb without an estimation. 

  • Normal, to be included within the next 3 Blocks, ideally within the next 30mins. Will default to 0.2 mBTC/kb without an estimation. 

  • Priority, to be included within next Block (1), ideally within the next 10mins. Will default to 1 mBTC/kb without an estimation.

 

Please note that 1mBTC equals 0.00100000 BTC or 100,000 Satoshi.

If your transaction is not confirming, we recommend to check what the transactions fee is, this can be done by looking up your transaction using either your address or transaction hash (txid). If you are unsure where to find your transaction hash or the address please see our explanation on how to check bitcoin transactions and addresses

Check out bitcoinfees.21.co  to know what the recommended fee is at currently. See screenshot below:

 

You can see that the bracket of 51-60 Satoshis per byte is the first one to give an estimation of 0 blocks until confirmation

Let's look at a transaction as a example from blockcypher.com:

Link to transaction displayed above

Check your transactions fee and use this table to easily switch to satoshis and calculate your satoshi fee per byte.

When calculating what the fee is in satoshi per byte for the transaction, we see that it is within the 21-30 bracket of satoshi per byte. This means we can expect this transaction to confirm within the next 2-18 blocks in theory if no new transaction would be relayed with a higher satoshi-per-byte-fee than ours. But miners are also likely to include all the other transactions before. 

If you experience problems with confirmations, consider setting your default miner fee to priority and change it manually when confirmation time is not an issue.

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Comments

  • Avatar
    David Parrish

    Is it possible to resend an unconfirmed transaction with a higher fee? That would really be great!

  • Avatar
    Rizki Kurniawan

    @David there is a way to increase your transaction fee to speed up confirmation process if there is any transaction of yours are ignored because fee is too low. The requirement is you should be the one who SENT or Receive.

    Here is the Guide must be performed on Windows, Mac, or Ubuntu desktop
    https://www.mystellar.org/thread-159-post-522.html#pid522

  • Avatar
    David Parrish

    @Rizki, thanks! I think that will work for me.

  • Avatar
    Mizurison12

    I bought BTC but i didn't receive can you help me

  • Avatar
    Juniorfaour

    Does anyone know if these people actually answer or work? I purchased bitcoin since Thursday night. They took my money and I m sitting here waiting for my bitcoin. Today is Sunday morning and still no bitcoin.... come on seriously???????? I m am not a happy customer right now. Either return my money in full or send me the bitcoin I purchased. What the hell.

  • Avatar
    james michael presley

    Juniorfaour did you receive your bitcoins?

  • Avatar
    Nemo81 Fg

    Hi,
    Hope to have a reply.
    I'm getting very high estimate transection fee, even if I set to low priority I'm getting something like 17$ fee just to send 40$ (conversation from btc-->USD on Aug 17th).
    Is there a way to override the fee estimator and set the default value (without estimator) or to set a manual value?
    Please let me know.
    Thanks

  • Avatar
    David Parrish

    One thing you could do is export your seed to Electrum wallet and set the fee to very low. I do not know of a way to set the fee to very low or 0 in Mycelium.

  • Avatar
    Nemo81 Fg

    Thanks for the advise.
    I will try to do as u mention, but I would like to have this option available in Mycelium.

  • Avatar
    Jim Shepard

    Just over three (3) hours now on a receive transaction of 1.999 BTC to my Mycelium wallet and still ZERO confirmations. I always use the "NORMAL" fee range. Never an issue even close to this happening in the past more than two years I've been using the Mycelium wallet. What's going on?

  • Avatar
    Jerrod Pannell

    Been waiting almost 24 hrs to receive my bitcoin. This is ridiculous