[bravogamma]

What does a “stuck on-chain transaction” actually mean, can someone explain?

The least generous read is that they’re testing their withdrawals halting system in preparation.

[01100011]

(paraphrasing from Twitter) It means they have to let the mafia pull out their money first so that no one ends up murdered. Then they'll let the normal folks withdraw.

[323]

One possible example: their usual transactions to fill up the hot wallet are not going through because too low fees, or timelocks/multi sig issues, and now unexpectedly they need to go to the cold wallet and this takes time.

I bet they are doing waay more withdrawals today, many times over their usual volume so they are hitting some capacity issues, and you can't rush these things.

[efficax]

well you see, they tried to exchange it for cash and there was no cash left, so it got "stuck"

[oleganza]

LOL, but no.

What they probably mean is that they have a transaction that consumes $1000000 on their address and creates two outputs: $100 withdrawal for client A, and $999900 on a "change" output. Later withdrawals have to link to that change output (bitcoin is a directed acyclic graph of inputs-outputs). If that transaction is not confirmed, then later txs also cannot be confirmed and backlog grows.

[atx42]

It means they just need to solve the "halting problem" first and then transactions can get back to normal.

[atx42]

Don't worry, they will just ask their next interview candidate and then they'll have the solution.

[FollowingTheDao]

It means they are trying to stop the price of Bitcoin from collapsing. The whales have exited so it's ok.

[steve_taylor]

It means they've run out of money.