Bitcoin is too slow - page 14. | Bitcointalksearch.org

RodeoX

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Quote from: mark coins on June 14, 2016, 11:47:22 AM

Exactly and the day I started to use bitcoin, I have never used banks or WU for making money transfers as bitcoin is taking care of it in best possible way.

Me as well. I dumped my PayPal account in 2010 when I switched to bitcoin for online purchases. Ever since then they have sent me at least 1 spam email a week. About once a year I ask them if they are using BTC yet. Then I say "Ok, well let me know when you do."

Quote from: illodin on June 14, 2016, 11:50:04 AM

Taking a few minutes for my transaction getting added to the ledger would be acceptable. A few seconds would be ideal.

30-60 minutes is not when all I can do is sit with my thumb up my ass waiting for it to be accepted and needing the money to move.

Consider what you are selling/buying.
If I were selling a yatch then I would want to see 5 - 6 confirmations. That is an hour or so wait, but not that long considering the scale of the purchase. If I were selling a flashlight then I would not wait at all. The effort and expense of faking a Tx is far greater than the gain of a flashlight. This why McDonald's can take a credit card for a burger. They have no idea if the Tx is legit, but they do know it is not feasible to make a fake card to get a burger.

lister storm

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Quote from: illodin on June 14, 2016, 11:50:04 AM

Quote from: Denker on June 14, 2016, 11:19:30 AM

Quote from: illodin on June 14, 2016, 10:35:42 AM

Transactions are too slow. Will someone fix it or do we need a better coin?

Don't know what you're talking about to be honest.
Transactions happen almost instantly.And confirmation as usual ~10 minutes.
So everything is fine and nothing needs to be fixed.
Maybe try to be a bit more precise to tell us what kind of problem you have.

Taking a few minutes for my transaction getting added to the ledger would be acceptable. A few seconds would be ideal.

30-60 minutes is not when all I can do is sit with my thumb up my ass waiting for it to be accepted and needing the money to move.

it rarely takes from 30 to 60 minutes in order for your transaction to get confirmed in my opinion but it sometimes happens, either way its still not the longest time you might need to wait

for me bitcoin is definitely not too slow for me, i have never had any problems with waiting for my transactions to be confirmed and i think that the 10 minute block time is really fast

illodin

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Quote from: Denker on June 14, 2016, 11:19:30 AM

Quote from: illodin on June 14, 2016, 10:35:42 AM

Transactions are too slow. Will someone fix it or do we need a better coin?

Don't know what you're talking about to be honest.
Transactions happen almost instantly.And confirmation as usual ~10 minutes.
So everything is fine and nothing needs to be fixed.
Maybe try to be a bit more precise to tell us what kind of problem you have.

Taking a few minutes for my transaction getting added to the ledger would be acceptable. A few seconds would be ideal.

30-60 minutes is not when all I can do is sit with my thumb up my ass waiting for it to be accepted and needing the money to move.

mark coins

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Quote from: salmanahmedone on June 14, 2016, 11:45:00 AM

Quote from: RodeoX on June 14, 2016, 10:45:08 AM

Bitcoin transactions are the fastest global transactions ever created in the history of history. Only an "in-person" cash transfer is faster. For comparison, a credit card takes 2 - 60 days if all goes well. No "fix" is needed as it works great.

Yes bitcoins transactions are not only faster and Cheaper also. Think of any credit card and see how much taxes it detects o each transaction and so many fees associated with it like maintenance fee, yearly fee etc etc. Bitcoin is the best coin and we do not need any other coin for its replacement.

Exactly and the day I started to use bitcoin, I have never used banks or WU for making money transfers as bitcoin is taking care of it in best possible way.

salmanahmedone

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Quote from: RodeoX on June 14, 2016, 10:45:08 AM

Bitcoin transactions are the fastest global transactions ever created in the history of history. Only an "in-person" cash transfer is faster. For comparison, a credit card takes 2 - 60 days if all goes well. No "fix" is needed as it works great.

Yes bitcoins transactions are not only faster and Cheaper also. Think of any credit card and see how much taxes it detects o each transaction and so many fees associated with it like maintenance fee, yearly fee etc etc. Bitcoin is the best coin and we do not need any other coin for its replacement.

RodeoX

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The revolution will be monetized!

Quote from: Amph on June 14, 2016, 11:05:11 AM

Quote from: RodeoX on June 14, 2016, 10:45:08 AM

Bitcoin transactions are the fastest global transactions ever created in the history of history. Only an "in-person" cash transfer is faster. For comparison, a credit card takes 2 - 60 days if all goes well. No "fix" is needed as it works great.

i have my doubt that even a cash in eprson transaction is faster, usually you need to check carefully in real life with cash how much you are exactly givin, two times at least, it's easy to be wrong there

I was thinking of a confirmation rather than a transaction. I think you are right about an actual Tx. Mine normally take 1 - 3 seconds, and I suppose that it is faster than getting a dollar from your pocket.

Lauda

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How many threads are you people going to open? Is it so hard to use Google? There is a huge difference between transaction speed [1] and confirmation speed [2].
[1] - Usually 1-3 seconds for reasonable transactions.
[2] - 10 minutes on average.

Quote from: freshman777 on June 14, 2016, 11:09:21 AM

You are confused, because what you take for Bitcoin is spam. Spam can be slow.

Exactly. Don't blame the network if you don't know how to properly use it.

Quote from: RastoMan on June 14, 2016, 11:23:08 AM

The mempool size is 19.5 MB now.

No. That mempool size is calculated based on specific settings that the node has. If you accept all transactions you should assume that the mempool is "going towards infinity" due to spam.

Quote from: RastoMan on June 14, 2016, 11:23:08 AM

I paid the transaction fee which should let the transaction confirm within 1 block, it is still not confirmed after 2 hours.

Provide a transaction ID.

ABCbits

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10 minutes shouldn't be that long for most condition, altcoin might offer faster confirmation but they can't handle lots of transaction or offer better security.
Also, some merchants already accept zero confirmation so you don't have to wait at all.

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Quote from: marlboroza on June 14, 2016, 11:02:04 AM

Quote from: illodin on June 14, 2016, 10:35:42 AM

Transactions are too slow. Will someone fix it or do we need a better coin?

Transactions are fast. Maybe you didn't pay enough transaction fee, so your transaction is slow now? Can you give us txid?

The mempool size is 19.5 MB now. I paid the transaction fee which should let the transaction confirm within 1 block, it is still not confirmed after 2 hours.

Denker

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Quote from: illodin on June 14, 2016, 10:35:42 AM

Transactions are too slow. Will someone fix it or do we need a better coin?

Don't know what you're talking about to be honest.
Transactions happen almost instantly.And confirmation as usual ~10 minutes.
So everything is fine and nothing needs to be fixed.
Maybe try to be a bit more precise to tell us what kind of problem you have.

SquallLeonhart

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I don't think that bitcoin transactions are too slow, its has never been major issue for me as my transactions gets confirmed maximum in 20 minutes and I don't understand why people keep on complaining about it.

freshman777

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You are confused, because what you take for Bitcoin is spam. Spam can be slow.

Cuidler

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Quote from: illodin on June 14, 2016, 10:35:42 AM

Transactions are too slow. Will someone fix it or do we need a better coin?

If you need many small and fast transactions you might be looking at instant transactions with lighting network / thunder as a new feature for Bitcoin, currently in development and expect it later this year. It has downsides as well because you need to lock in Bitcoins you can use later anytime (but instantly) with lighting network / thunder, but it might fit your need much better.

Other than that, average 10 min block times are going to stay with Bitcoin for a reason, reducting to 5 min you would loose half the security for 1 confirmation anyway, dont fall in cheap tricks of some altcoins with super fast confirmations, because it comes with downsides as well.

icanscript

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Quote from: ~Bitcoin~ on June 14, 2016, 11:03:38 AM

Quote from: illodin on June 14, 2016, 10:35:42 AM

Transactions are too slow. Will someone fix it or do we need a better coin?

the main problem is with block size rather than tranasaction speed, so we really need 2mb block size alteast to make bitcoin transaction fast.

That wouldn't help in the instance that a block is not found though. sure when one is found you can fit more tx in if you did use a low fee.

but realistically you can use most services and send from wallet -> wallet within 60 minutes still.

Amph

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Quote from: RodeoX on June 14, 2016, 10:45:08 AM

Bitcoin transactions are the fastest global transactions ever created in the history of history. Only an "in-person" cash transfer is faster. For comparison, a credit card takes 2 - 60 days if all goes well. No "fix" is needed as it works great.

i have my doubt that even a cash in eprson transaction is faster, usually you need to check carefully in real life with cash how much you are exactly givin, two times at least, it's easy to be wrong there

marlboroza

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Quote from: illodin on June 14, 2016, 10:35:42 AM

Transactions are too slow. Will someone fix it or do we need a better coin?

Transactions are fast. Maybe you didn't pay enough transaction fee, so your transaction is slow now? Can you give us txid?

~Bitcoin~

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Quote from: illodin on June 14, 2016, 10:35:42 AM

Transactions are too slow. Will someone fix it or do we need a better coin?

the main problem is with block size rather than tranasaction speed, so we really need 2mb block size alteast to make bitcoin transaction fast.

OrangeII

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I guess there are some things that make it to be slow, maybe you send bitcoin with a very large number, or maybe this time the OP was very busy because, so many people who buy and sell their bitcoin due to price increases

bitconerian

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Quote from: illodin on June 14, 2016, 10:35:42 AM

Transactions are too slow. Will someone fix it or do we need a better coin?

It's fine, OP. Just how bad are you jonesing for bath salts, anyhow?

bitbunnny

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How do you mean they are slow? The transactaions are executed within the half an hour, in.average, sometimes even faster. So,I see nothing to complain to. Only very rarely some transactions get stuck in the blockchain confirmation.

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