Yesterday Bitcoin once again set the all-time records. And not only the price climb, which was truly astonishing, was a concern for traders and casual buyers. The all-time high daily trade volume of $29 billion also was noted on this day. The mainstream media scampered around, trying to keep up to date with the events. Everybody was elated, Bitcoin to the moon, they were saying. Opportunities of huge arbitrage deals were available. But there is a downside to everything. All this rage in the end led to Bitcoin, while pricey to say the least, becoming practically non-transactable.
The current backlog, as of 9:00 UTC 12-08-2017, in the mempool is more than 220000. This caused many users to complain about their transactions sitting unconfirmed for several hours despite fast fees of $7 and more. Transaction fees as high as $32 were logged, but it didn't help much, because the viral success of the largest cryptocurrency swept up not only private users, be they miners or buyers, but also all of the BTC exchanges. It didn't directly impact the blockchain, as all the trading is done on the outside resources, but the demand for fund transfer in and out of exchange platforms was still high enough to clog up the blockchain.
Casual users beware, right now may not be the best time to pay with Bitcoin, because analytics say that the mempool will clear up to manageable level in several hours, at best. Consider your assets to be a very profitable savings account, because in the nearest future it's practically impossible to cash in BTC in any reasonable amount of time.