https://blockchain.info/charts/n-transactions
Network is currently at about 1 tps.
Topic: Bictoin: Only 7 Transactions Per Second. Not gonna fly... - page 2. (Read 3025 times)
7 tps can be raised, it is an artificial limit which didn't exist in the original client. It was added after the fact as a denial of service prevention mechanism.
BitPay times out if the TX IS NOT SEEN IN 15 MINUTES. This means 0-confirm. My guess is you used a client which wasn't synced to the blockchain and your tx was never sent until >15 minutes after the invoice was created. You probably shouldn't use the QT client it really isn't designed for "users". I would recommend using a lite client like multibit or electrum which handles all the "hard stuff" (like keeping synced with blockchain) for you.
Still keep fudding. You probably should sell all your Bitcoins now, you know it is going to fail so sell while you still can.
BitPay times out if the TX IS NOT SEEN IN 15 MINUTES. This means 0-confirm. My guess is you used a client which wasn't synced to the blockchain and your tx was never sent until >15 minutes after the invoice was created. You probably shouldn't use the QT client it really isn't designed for "users". I would recommend using a lite client like multibit or electrum which handles all the "hard stuff" (like keeping synced with blockchain) for you.
Still keep fudding. You probably should sell all your Bitcoins now, you know it is going to fail so sell while you still can.
Its Bitcoin Black Friday and a lot of people are using Bitcoin today to make purchases.
And guess what: I can't check out on some stores.
I am assuming this has something to do with Bitcoin's limit of 7 transactions per second, across the *entire* network.
It's possible something is wrong with the store I am using, too.
But Visa and Mastercard which can handle 2,000 transactions per second.
My Bitcoin QT client took well over 20 minutes to generate the first confirmation.
Maybe that's why the BitPay interface on this shopping cart eventually timed out - after 15 minutes.
If so, this is a network speed issue, right?
I feel like this is a huge, huge problem that needs to be addressed yesterday.
I know Gavin and the dev team are well aware of it, but now here we are on Bitcoin Black Friday
And its possible some people can't even use Bitcoin to buy things?
Is this where Litecoin comes in, with its faster speed?
Making it the true currency of commerce, while Bitcoin gets pushed to the back as a "store of value" instead? (sad face)
-Burger-
And guess what: I can't check out on some stores.
I am assuming this has something to do with Bitcoin's limit of 7 transactions per second, across the *entire* network.
It's possible something is wrong with the store I am using, too.
But Visa and Mastercard which can handle 2,000 transactions per second.
My Bitcoin QT client took well over 20 minutes to generate the first confirmation.
Maybe that's why the BitPay interface on this shopping cart eventually timed out - after 15 minutes.
If so, this is a network speed issue, right?
I feel like this is a huge, huge problem that needs to be addressed yesterday.
I know Gavin and the dev team are well aware of it, but now here we are on Bitcoin Black Friday
And its possible some people can't even use Bitcoin to buy things?
Is this where Litecoin comes in, with its faster speed?
Making it the true currency of commerce, while Bitcoin gets pushed to the back as a "store of value" instead? (sad face)
-Burger-
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