June 17th 2016
We have received numerous requests for help with MultiBit Classic related to the delay for transactions making themselves into blocks. We wanted to provide some quick pointers to help those that are experiencing this issue.
First, we suggest all users immediately upgrade to the latest version of MultiBit HD, v0.3.0 (Now known simply as MultiBit). In the near future we will no longer be able to provide support for MultiBit Classic. Making the move now ensures that we can help you with the transition. That said, the problems MultiBit Classic users are experiencing have actually been preventing a smooth upgrade since our recommended approach is to move funds using a bitcoin transaction.
Due to the recent rise in the volume of transactions on the Bitcoin network, fees have risen. Unfortunately, MultiBit Classic's preset fee levels are too low for bitcoin transactions to make blocks quickly. This problem can also potentially get worse.
First, if you have a stuck transaction, we want to assure you that your bitcoins are safe. The transaction will eventually either make a block and reach their destination, or it will be dropped from the mempool. So in either case, the stuck transaction will typically resolve itself within a few days.
Unfortunately, there is no easy way to "unclog" a transaction in this state. So for these, we recommend waiting, knowing it will resolve itself.
If you do need to make a transaction, whether your upgrading to another wallet or sending funds to someone else, we suggest waiting until off-peak hours. These times fluctuate, but normally on weekends there is less transactional load and your success rate with transactions making blocks will be higher.
We have had several users report that they keep re-trying transactions until they eventually make the blockchain, and this seems to have worked. Although this is extremely inconvenient, you can be assured any transaction will either be processed or dropped, so you do not have to worry about sending your bitcoins to a black hole. The only risk is that you lock up your bitcoins temporarily while attempting this approach.
If you absolutely must have immediate access to your bitcoins, and you understand the risks involved in this process, you can export your private keys to a third party wallet. This should be considered your last resort, as it carries extreme risk. You could potentially expose your private keys in plaintext, giving hackers access to your funds. You should also carefully examine the security practices of wallet your importing your keys into.
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