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What does a “stuck on-chain transaction” actually mean, can someone explain? The least generous read is that they’re testing their withdrawals halting system i
by bravogamma 4y ago
What does a “stuck on-chain transaction” actually mean, can someone explain?
The least generous read is that they’re testing their withdrawals halting system in preparation.
- 323 4y agoOne possible example: their usual transactions to fill up the hot wallet are not going through because too low fees, or timelocks/multi sig issues, and now unexpectedly they need to go to the cold wallet and this takes time. I bet they are doing waay more withdrawals today, many times over their usual volume so they are hitting some capacity issues, and you can't rush these things.
- efficax 4y agowell you see, they tried to exchange it for cash and there was no cash left, so it got "stuck"
- oleganza 4y agoLOL, but no. What they probably mean is that they have a transaction that consumes $1000000 on their address and creates two outputs: $100 withdrawal for client A, and $999900 on a "change" output. Later withdrawals have to link to that change output (bitcoin is a directed acyclic graph of inputs-outputs). If that transaction is not confirmed, then later txs also cannot be confirmed and backlog grows.
- 01100011 4y ago(paraphrasing from Twitter) It means they have to let the mafia pull out their money first so that no one ends up murdered. Then they'll let the normal folks withdraw.
- steve_taylor 4y agoIt means they've run out of money.
- FollowingTheDao 4y agoIt means they are trying to stop the price of Bitcoin from collapsing. The whales have exited so it's ok.
- atx42 4y agoIt means they just need to solve the "halting problem" first and then transactions can get back to normal.
- atx42 4y agoDon't worry, they will just ask their next interview candidate and then they'll have the solution.