WHY BITCOIN IS DOWN!
As of 12th Jan 2018, (Australia Time) Bitcoin has 170,000 unconfirmed transactions on the network. This has been like this for some time now (2 - 3 weeks).
With only on average 2000 transactions confirmed in each block (10 min) it will take some time to bring this figure down.
The miners are able to ask a higher price to confirm a transaction, as there are so many waiting in the Q.
So the Bitcoin Network is Clogged up... this will be the downfall of Bitcoin as a Transaction coin. People will not wish to spend a $5 fee to buy a $5 coffee, not gonna happen.
I go over this and more in my video.
Cheers
GUNGA
