Topic: alright someone please explain this (Read 391 times)

We know that every currency depends on its network for transactions. Sometimes the Bitcoin network slows down a bit when there are the most transactions, but then it picks up again. But not always this kind of slow work but if you want to speed up your transaction then increase your transaction free. If you increase the network's transaction free, you will see your transactions completed very quickly. And if you transact from trust wallet, then the transaction free will take a lot and it will take some time to send, so you can use mycelium, wallet to transact quickly from here.

Not all transactions with the Bitcoin are slow and not all transactions with ETH are instant it really depends on some factors which greatly affect the speed of processing the transaction sometimes traffic and sometimes how much fee are you willing to pay for processing your transaction, moreover, the transaction also depends on the Network as with the Bitcoin Lightning network you can process you transaction way faster than any other networks. In network congestion, if you had coutmized the fees on the Bitcoin network to the lowest more likely it can take days or week in some cases to process your transaction.

So buddy Bitcoin is Bitcoin and ETH is ETH haha you should know that and with proper analysis you should need to know why both networks behaves differently because their goals are different.

If you want to make it fast then you also have the option to set the fees to priority which will get it confirmed under few minutes but check out what's the average fees rate going on at that time.Even if the network is congested your transaction with high fees have chance of getting confirmed fast but if you make comparison with ETH then it's not slow and have you bother to look at the gas for confirming transaction? Most of bitcoin transactions with adequate fees get confirmed fast but I don't see any instant one on any network if we see more confirmation to make it valid transactions.

If you compare Bitcoin network with shitcoins' low volume network e.g. Matic, XRP, Link etc, obviously Bitcoin is slower and expensive. But comparing Bitcoin and Ethereum network where it's already obvious ETH network is more slower and expensive is don't make sense. Check mempool [1] and Etherscan [2], you will see the truth.

Currently Bitcoin network charge three lesser fee than Ethereum network.

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[1] https://mempool.space/
[2] https://etherscan.io/gastracker

LMAO

If you feel better, compared with Bitcoin any other coin is like a "Hotweels" car (toy) compared to a Bentley (not to repeat the example of the Ferrari).

Back on topic, a good advice is to avoid making Bitcoin transactions every time there is a big movement in price (upwards but also downwards), when many people wants to buy or liquidate. It's better to send coins when the market is calm and thus the network fluid.

If you want Bitcoin transactions to be faster than Ethereum then start using Lightning Network. Payment confirmation takes place in a few seconds. Recently Binance has also integrated the Lightning Network.

lol your right

please next time use another example than Toyota cuz i have one and i love it xD

u hurt my feelings lol

Among the many who provide answers to the OP question, only certain people can answer with leading explanations. Others I found answers from people who just answered without any knowledge about wallets. From this, I learned a lesson that it is better to be silent and participate in listening in order to understand something that is not known, rather than participating in answering but not understanding and instead showing others their inability to master the object of discussion.

Sometimes, this really happens, but sometimes, this is vice versa.
My point is, sometimes Bitcoin transactions can be very fast, and conversely Ethereum transactions or tokens that use the Ethereum network do so very slowly. This could be because it depends on the transactions on the network. There are times when Bitcoin transactions are very dense at certain times. And it could also be that at that time Ethereum transactions were slow. So transaction works faster at the same time. So it may be true that it will depend on the transaction network and the conditions on that network.

I'm not much interested in Ethereum for various reasons. I stick to Bitcoin mainly because it embodies a few very unique design principles that Ethereum lack (no shady premine, decentralization, trustless, deflationary and limited to name a few important ones).

But Bitcoin had a small rollback too in the very old days, when due to a bug someone "produced" something like 184 billion Bitcoins out of thin air. Quick find (likely not the original thread): How someones made 184 Billion Bitcoin appear out of nowhere

P.S.
Here, https://bitcointalksearch.org/topic/how-someones-made-184-billion-bitcoin-appear-out-of-nowhere-5199181.msg53001464#msg53001464, @o_e_l_e_o dug up the original threads in above topic. Kudos!

Maybe when you make a transaction (Bitcoin) you have a problem with the network, problems like this often occur in a transaction. You can't compare Ferrari to Toyota, then say Toyota is faster than Ferrari, maybe at that time the Ferrari was having engine problems or a flat tire. 
Gas fees are very influential on the speed of transaction processing, you have to make sure the gas fees that you install to process your transaction confirmation faster.

Your definition of speed is wrong because you probably don't really understand what confirmation means and what its relationship with reversibility is.

A confirmation is when a transaction is included in a block. From that point as newer blocks are found, the confirmed transaction goes deeper into the chain or gets more confirmation.
What matters here is to find a number of confirmation where the chances of the confirmed transaction being reversed by performing an attack on the chain (eg. 51% attack on PoW chains and other forms on PoS) is nearly zero.
Depending on the algorithm, the hashrate, level of decentralization, security of the protocol itself (in simple terms being bug free), and the network state this number can be different.

For example for a centralized shitcoin with a weak protocol where mining is performed by centralized powers this number can be in the thousands. In fact if you look at the deposit page of most exchanges, they require very high number of confirmation for a lot of altcoins for this reason, although not all of their values are accurate or safe but it is a good practical example.
But for a decentralized cryptocurrency like bitcoin with a solid protocol and a well spread miners and a very big hashrate this number is the lowest.

In other words, as others also pointed out, for a centralized shitcoin like ETH having only one confirmation (even with the new flawed PoS algorithm) doesn't provide nearly enough security as one bitcoin confirmation provides.

Trust wallet is not a cold storage wallet but instead hot wallet that shouldn't be used for anyting other than storing few hundreds of dollars worth of crypto. At least that's how I am treating my hot wallet.

What is slow is your confirmation time and not bitcoin transaction and you can adjust that by pumping your transaction fee if you want.

Bitcoin transaction is not slow, know this for life, you can adjust the time for your bitcoin transaction to be confirmed after carefully seeing that you make use of a lower priority fee which may be one of the reasons why you can have a slower confirmation time, always try to check the mempool and the priority for each transaction fee and select the highest fee to get your transaction confirmation immediately after the next block is confirmed.


Bitcoin is not slow, the network is not slow either, bitcoin transaction is more faster than other cryptocurrencies transactions, when the issue of scalability comes in place, bitcoin lightning network was introduced and nothing more, bitcoin transaction still remains the best fee rate and fastest, just increase your fee and get confirmed on time, who knows maybe it's from the wallet you use that doesn't display your balance on time.


Trust wallet is a cold storage wallet but not an open source wallet, i will advise you maintain using that for your alts while you get electrum wallet for your bitcoin, am sure you will notice some difference.

It is worth mentioning that Ethereum had a rollback of a transaction back in 2016 (I forgot the exact year) when there was a hack. They had a hard fork to get all the assets back for a DAO. Ethereum Classic is the real Ethereum as some of the folks didn't support the hard fork.
How much weird this sounds lol! People should be more aware of what's a secure transaction. It's definitely not only about getting transactions faster, satoshi could do it faster too. Though the reason behind is not the same, there's a reason of course why it's 10 minutes.

Since you are suggesting MetaMask, I think you misunderstood OP.
OP doesn't have any problem with ethereum transactions and is asking why bitcoin transactions are slow.

Metamask doesn't support bitcoin and OP can use electrum for bitcoin transactions.
Of course, trustwallet also allows users to set the fee rate for bitcoin transactions manually, but as it's close-source and lacks many features like RBF, coin control, etc. I recommend everyone to avoid it.

OP, if you use trustwallet.com, the answer to the problem you are currently facing and the answer you can see below.
Ohhhh, yes I forgot about that.

I believe this has something to do with the specification of the coins.  They have certain specification where the time when the network is able to produce block and got confirmed is coded on the system.  To put that simple, ETH is programmed to have a faster block production reason for faster transaction confirmation while Bitcoin is programmed to have a slower block production and that actually gives the reason why it confirms slower.

You can see the rate how the block is generated between ETH and Bitcoin and this is the reason why ETH confirms faster than BTC.



having a fast confirmation does not mean being the best crypto because we have to consider the security, community and adoption of a cryptocurrency.  There are more coins that are confirmed faster than ETH but still considered as shitcoin.

Trust wallet does not provide the option of lightening network and RBG in my opinion. Which means you can not extend the transaction fee to increase the processing priority of your transactions. For example, your transactions are getting delayed because your transaction fee must be lower then others that's why your transactions are queued below them. I also sued Trust wallet and transaction sometime when network is highly congested took more than hours. But mostly my transaction got completed in 10 to 15 minutes max.

I prefer you to not to use TW because one, it is close source so, it could also harm our funds, second, it is not mainly for BTC transactions, Third your ETH transactions are fast because the network fee doesn't effect the transaction rate here. It's the blockchain you are using makes the transaction slower and increase or decrease the priority of your transaction according to fee being paid.

If you will use matic in TW then you will know the transaction are way faster and almost free of cost. For BTC, prefer to use Electrum because it have RBF option but it will cost you way more if you are a merchant. I just prefer a person to use exchange for such small transaction you must use exchanges to make transaction using there ID or email. In this way the transaction will be free and fast.

Can you use Bitcoin to pay everything online?

Yes, you can spend the fund once the receiving ETH transaction gets its first confirmation.


Exactly.
As you know, if you make a bitcoin transaction and the fee rate is high enough, you will get the first confirmation in 10 minutes on average.
If you make an ethereum transaction and the gas price is high enough, your transaction won't be as secure a bitcoin transaction with 1 confirmation after 10 minutes.

In my experience, and this is not always and 100% accurate because, as cryptoaddictchie said, it depends on how congested is each network at a given time, transactions in the ethereum network are much more expensive lately. Maybe not a very big difference if you want to send ETH, but if you want to send tokens the transaction can cost up to 50$ sometimes: so, set the same high fee required for Ether or tokens for a Bitcoin transaction and you will see that it will be (inefficiently) immediately confirmed.

If I receive ether from someone and having 1 confirmation, but I can send it to another person after 1 confirmation? But I think I can get you now, what you meant is how secure the transaction is?  That is correct, a single bitcoin transaction is far more secure than that of ether.

How about coins that their transactions are instant? Ether transaction can take 15 seconds to 5 minutes or more. Why are the instant transaction altcoins not having the highest marketcap? This rhetorical question answers why bitcoin is superior to ether. It is not about how fast transactions are, it is about how secure the network is.

Instantly on Ethereum network, you can lose your coins on that network instantly too. It is a centralized network and risk of attack is high.

10 minutes are acceptable to get security for your on-chain transaction. If you want more quickly transaction, use Bitcoin Lightning Network but it is less secured than Bitcoin on-chain transactions.

How many confirmations are equivalent to 6 Bitcoin confirmations?. There are altcoins with faster transaction speed, confirmation time but if you want to get similar security like 6 confirmations on Bitcoin network, you will need 17 hours with Dogecoin, 15 hours with Litecoin, 4 days 21 hours with Bitcoin Cash.

Before Proof of Stake, The Merge, Ethereum network needs about 3 hours.
https://web.archive.org/web/20210811184629/https://howmanyconfs.com/

Trustwallet allow you to set the fee rate for bitcoin transactions manually.


Yes. If the gas price you use for an ethereum transactions is sufficient, your transaction would be confirmed in a few seconds. Of course, this doesn't mean ethereum transactions are faster than bitcoin transactions.

While sending from noncustodial wallet address to noncustodial wallet address?

That's probably because you set the fee too low. From what i can see on https://mempool.space/, fees are currently low so you shoulnd'thave any issues.

The best cryptocurrency is not decided by how fast trasnactions are.


Someone will correct me if I amw wrong, but I doubt that you can set the fee manually using Trust wallet whihc could explain your transactyions being slow.

Bitcoin transactions aren't slower than ethereum transactions.
You may get the first confirmation for a ethereum transaction much faster, but your ethereum transaction requires much bigger number of confirmations, so that it's equivalent to a bitcoin transaction with only 1 confirmation.

What people like most about bitcoin is because it is decentralized, unlikely ether and Ethereum network in general that is very centralized.

Trust wallet is close source, use open source wallets like Unstoppable.

If it is bitcoin, mempool congestion can make low fee transactions not to be confirmed very fast, but if their is no congestion, there is still most probability that transactions are confirmed 10 minutes on average, although it can be less than or more than 10 minutes.

Worth knowing that no gas fee for bitcoin transaction. It is called transaction fee or fee.

It depends on the network of each token or coin. Probably it is slow due to heavy usage and some transactions arent confirmed yet and also the gas fee you used must be low or not par with the current rate of gas being process at the moment.

You must make sure you are using gas fee that can compete with other users to easily approved your transactions.

hii bitcointalk community

im having BTC and ETH

my question is why BTC transaction is so slow while ETH almost instantly !!

to BTC is the best crypto ever but its slow now

im using Trust wallet ( not sure if this is relevant )

for any experience in this matter please help me 

as a seller and dealing with crypto is affecting the slow transaction time to get and makes delays in Deals ( not for everybody but to me its effecting )