Stuck transactions

As it stands, we have over 300 BTC of transactions stuck, waiting for confirmations. Based on some articles there are other exchanges dealing with a similar issue.

We have tried to double spend inputs for transactions where the TXID was no longer visible by blockr.io or blockchain.info, directly to these explorers and the transaction was rejected. This means that the transaction is still out there in the mempool and is waiting for confirmations.

And as long as there aren’t too many miners cheating on the priority formula (focusing on highest fees with no consideration to input age) the transaction should confirm in some days as the priority should in theory continue to increase.

Because we can’t afford to wait for our coins to return in days, free withdrawals have been disabled temporarily and our own share of the txfee has been raised. The mempool transaction count has dropped from 100k to just 40k. Hopefully we can soon clear the huge backlog and get the coins back.

In the meantime, we’ll do a test with CPFP (”Child Pays For Parent”). Perhaps we can provide a tool to speed up the confirmation.

https://www.cryptocoinsnews.com/bitcoins-transaction-backlog-hits-all-time-high/

https://blockchain.info/en/charts/mempool-count?timespan=30days

https://bitcoinfees.21.co/

https://themerkle.com/core-developer-bitcoin-is-about-financial-sovereignty-not-speed/

http://www.blockalerts.com/all/nothing-to-worry-about-high-transaction-fees-in-bitcoin/

https://medium.com/@jimmysong/why-bitcoin-will-get-scaling-without-segwit-or-large-blocks-772799fab021