Re:There are now more than 200k pending Bitcoin transactions
by westurner on Tuesday December 19, 2017 @05:31PM
(#15965049)
The OT link does say "Transactions Per Second 22.54".
The solutions for this 3 hour backlog of unconfirmed transactions include: implementing SegWit, increasing the blocksize, and Lightning Network.
Re:There are now more than 200k pending Bitcoin transactions
by viraptor on Tuesday December 19, 2017 @05:36PM
(#15965089)
I think the link counts incoming transactions. I.e. you can always schedule more, but it doesn't mean they're going to be acted on in a reasonable timeframe.
Re:There are now more than 200k pending Bitcoin transactions
by godelski on Tuesday December 19, 2017 @06:09PM
(#15965321)
And the website provided in the link shows 4.42 transactions per second. Which at the current ~220k pending transactions, that's ~14hrs.
Edit: after refreshing the page it still had about 220k pending transactions but was doing ~11.34 transactions per second. Equating to ~5hrs.
Edit 2: Again refreshing it went to 24.61 (2.5 hrs). Another refresh went to 11.56 (5hrs). So there are some clear stability issues. But your max of 7transactions/second comes into question, or this site.
https://en.wikipedia.org/wiki/Bitcoin_scalability_problem