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Bitcoin transaction not confirming

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There looks to be a problem in the Bitcoin network at the moment.      With 122,000 unconfirmed transactions at time of writing (and rising).

A look here,   shows the average which is usually half an hour at most, spiked to a huge 1,105 minutes on the 14th of May.  (18 hours)   

On searching Google, I find other people were writing about this being a problem on other occasions when the number of unconfirmed was only around 40K.

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Just some quick math as of Monday morning, May 22, 2017.

166,000 unconfirmed transactions @ 4.6 transactions per second =~ 36,000 seconds =~ 10 hours.

There is a commission on these transactions, (Total fee =~ 95 BTC,)

Theoretically, those commissions or fees are set by the computational difficulty of confirming the transactions by the supply of computational power to break a certain iterated SHA-256 hash versus the demand (or commission the buyer offers on the market to confirm the transaction.)

You could buy a house with the fees alone associated with those unconfirmed transactions.

Edited by Stinger XX
quick math

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