Bitcoin is at over 43K unconfirmed transactions

Re:Bitcoin is at over 43K unconfirmed transactions by joosters on Wednesday October 26, 2016 @06:29AM (#12795319)

...because every user knows the satoshis/byte ratio of their transaction, right?

And even if they did, we'd even up with a backlog of the same transactions, all paying higher fees. Bitcoin is barely managing 2 transactions/second at the moment, higher fees won't speed this up.

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Re:Bitcoin is at over 43K unconfirmed transactions by Taek on Wednesday October 26, 2016 @12:51PM (#12798128)

The wallet should handle this for you. No reason that the user should ever realize that there's a Satish/byte ratio. Imagine instead:

"Bitcoin Surge! It's currently 25 cents per transaction to use Bitcoin."

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Re:Bitcoin is at over 43K unconfirmed transactions by ereli1 on Wednesday October 26, 2016 @07:19AM (#12795553)

if the fee would be higher on average, do you think that'll attract CPU power from other cryptocurrencies networks?

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Re:Bitcoin is at over 43K unconfirmed transactions by joosters on Wednesday October 26, 2016 @07:50AM (#12795678)

No, the fees are still insignificant compared to the block reward.

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Re:Bitcoin is at over 43K unconfirmed transactions by palunon on Wednesday October 26, 2016 @10:43AM (#12796810)

Even if that did, the difficulty would increase and you'd get the same number of transaction/second

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