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Where’s my money? How to work out what’s going on!

Sometimes, the Blockchain (the open ledger that stores Bitcoin transactions) runs a bit slow. Most sites will want 3 transaction confirmations  That means a number of miners will have to solve the mathematical problems to approve the transaction and verify it.

If there are not enough miners, this process can run slowly. So how do you tell what’s going on?

Ok first of all get the address you are sending to (or from!) and type it into https://chain.so this is a very interesting website because you can see the blockchain being processed!

Now you should see a screen like this….

As you can see my transaction is still processing, so the other end will show “Pending” and so will my transaction in Blockchain.

You can’t do much about this but wait, but this screen, when you refresh the page will show you when a transaction is complete!

If you want to know what the average transaction time is here you go but it does vary from second to second…

https://www.quandl.com/data/BCHAIN/ATRCT-Bitcoin-Median-Transaction-Confirmation-Time

Happy days!

 

 

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