Is it true that a bitcoin transaction can go unverified and eventually get dropped by the system?

Is it true that a bitcoin transaction can go unverified and eventually get dropped by the system?

I have attempted to transfer 0.5BTC from my personal wallet to Coinbase and it's been 5 days since I initiated the transfer. It is still pending. I started reading about this and learned that there is no guarantee in the bitcoin system to actually have any particular transaction verified. The transaction volume is high right now and transactions with higher fees get higher priority. And transactions with low fees get low priority and may not EVER get verified (or mined) before being dropped from the system. Is this true? That's a huge flaw in the system if it is. how can any kind of commerce happen with this "feature"?

http://ift.tt/2B4FUMw

Comments

Post a Comment

Popular posts from this blog

Antminer D3 Blissz Modified Firmware For Improved Performance

Image
Antminer D3 Blissz Modified Firmware For Improved Performance It is not a secret that the default firmware and even settings for many of the ASIC miners that come out from the manufacturers are hardly with the best/optimal settings and often they are also limited in what you can tweak yourself. So some more advanced users take the matter in their hands in order to further optimize for performance and or stability and reliability and even add extra features that help owners of the devices to get better profit or higher profit for example. One such case is the Antminer D3 Blissz Modified Firmware for the X11 ASICs being produces by Bitmain that you might want to give a try if you have even at least one of these ASIC miners. The custom firmware promises up to 20% lower power usage and some extra features such as ASIC voltage settings per chain as well as the ability to overclock or underclock per chain as well as more control on fan operational speeds. There are some usability improveme...
Read more

ETH To The Moon / Bank of England Cryptocurrency? / BTC Dominance / More (The Crypt0 Minute)

Image
ETH To The Moon / Bank of England Cryptocurrency? / BTC Dominance / More (The Crypt0 Minute) ►Please LIKE This Post On Steemit: http://ift.tt/2qkh4Yb Piano Instrumental By Omar Bham (Crypt0) 👍 Thank You Very Much For Watching This Video! Don't forget to smash those LIKE & SUBSCRIBE buttons :D 🎩►Become a Crypt0's News Patron: http://ift.tt/2vDXHXD ⛄►Check Out Our New Crypt0's News Amazon Storefront For Recommendations: http://ift.tt/2Br4nPB 🙇HELPFUL LINKS ►ICOs Raise One Billion Dollars In A Month: http://ift.tt/2A91Qow ►Huobi Is Now Headed To Japan: http://ift.tt/2Cbqk27 ►Verge Transaction IP Addresses: http://xvg.keff.org/ ►ScienceGuy's ETH Price Target: http://ift.tt/2CuwgGW ►Long Blockchain Corp: http://ift.tt/2BTmAFw ►Why 2018 Will Be The Year Of The Blockchain: http://ift.tt/2A2Krha ►Ethereum's Scalability Subsidy Program: http://ift.tt/2qgDNnS 🌌►Grab A Crypt0 T-Shirt: http://ift.tt/2khihd5 🚩🚩🚩A MUST HAVE ►Ledger Nano S (Top Multi-Asset Hardware Wal...
Read more