I love it when a prediction comes together!


Bitcoin transaction time getting longer and longer, as it pops bolts and spouts steam on its way to... The Halvening.

1st graph from June - new high of 25 hours.
2nd graph from July - new high of 77 hours.
3rd graph from Sept - new high of 181 hours.
4th graph from Oct 1 - new high of 430 hours.

It's gratifying to see this level of failure. Bitcoin is processing items queued from weeks ago, which increases average transaction time to 430 hours (18 days). This confirms to me that Bitcoin's losing a "heap" (yuk yuk) of transactions (20K?) every day, which creates re-transmits, cancellation transactions, etc, which consume more bandwidth. I did some rough calculations and guesstimate that an expired transaction uses 2X to 3X more bandwidth than a completed transaction.