Silk Road forums
Discussion => Silk Road discussion => Topic started by: oldschoolclubkid on April 11, 2013, 01:25 am
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Ok so I hadn't used MtGox in about two weeks and I noticed something today when I went to transfer funds out to SR a pop up came up and said
You elected to send a transfer without paying a Bitcoin Network fee. Such transactions may take longer to be proceeded by the Bitcoin Network, up to a few days. Are you sure you want to proceed this way
I went a head and processed it with out the fee since I had done it many times with out the fee and it normally takes an hour, did it with the fee once and it took and hour also so didnt see the point but this pop up is new. Its now been 3 and a half hours and still no coins in SR. Now I know Mt.Gox had a pretty hard day and may just be behind. My question is this do we really have to pay to have a transaction process in an hour or we can have to wait up to three days, something doesn't seem right there and if that's the case I will no longer be using Mt.Gox. Its only 0.0005BTC Fee For Faster Processing but with coins over 200 usd and that will add up quickly.
Any thoughts
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It's nothing to do with MtGox charging a fee the fee is for the miners on the bitcoin network that process the transactions, they can choose not to accept blocks to process that don't have fees.
https://en.bitcoin.it/wiki/Transaction_fees (clearnet)
Adding the voluntary fee means your transaction will likely be processed quicker then one that doesn't have one hence an hour processing time vs three days with no fee.
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Well the fee option showed up a while back I tried it but it wasn't really any faster, with out the fee was only taking about an hour. But now if they are going to take 3 days to process with out the fee then I would surely hope that the fee gets it done with in an hour. Regardless I think I will still be using a different exchange.