monero confirmation time increasing? (hackertalks.com)

submitted 1 year ago* (last edited 1 year ago) by jet@hackertalks.com to c/monero@monero.town

7 comments fedilink hide all child comments

Weird experience. I'm used to the 20 minute confirmation time. I just did a transaction and it's confirming very slowly, almost 30 minutes now for 10 confirmations.

Was there some protocol change?

you are viewing a single comment's thread
view the rest of the comments

[-] jet@hackertalks.com 2 points 1 year ago

https://www.coinwarz.com/mining/monero/hashrate-chart

The hashrate does seem to be down. So as the price of XMR dips, the miners reduce, and the hashrate reduces, and confirmation times increase?

[-] IP2@monero.town 2 points 1 year ago

as the price of XMR dips, the miners reduce, and the hashrate reduces

and difficulty takes some time to adjust, hence confirmation times are longer. I don't remember the exact numbers off the top of my head but it is not instantaneous.

[-] VolunTerry@monero.town 2 points 1 year ago

This makes some sense to me as more of a feeling without digging up enough data to confirm the suspicion, but I'd love others with more expertise to chime in.

Isn't part of the price>miners>hash>confirmation feedback loop you're suggesting typically accompanied by corresponding upticks or downticks in interest, use and transaction volume as well?

Plus, I thought the dynamic block size and dynamic fees usually helped smooth this out and keep the confirmation times within a relatively predictable range of upper and lower bounds.