bitcoin transactions - Slow OR Fast - page 12.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: sportis on December 13, 2016, 04:23:50 AM

Quote from: Khailerdaz on December 11, 2016, 08:20:19 PM

Bitcoin transaction is fast because nothing impossible in technology. If someone gives you a bitcoin, you can easily convert it into something. In bitcoin transactions, it needs some of our real information to verify our identity.

Bitcoin transactions are fast when I buy something from Internet sitting on the chair front of my computer but is extremely slow when I wait in the cashier of a supermarket with 10 other people behind me expecting to pay with cash or their debit/credit cards.

It depends. If the transaction value is below $30, and you include a more than decent/appropriate fee, then it will most likely get accepted without any confimations. But if you're stingy on the fees, or your transaction value sits well above $50, then you'll surely be forced to wait for at least 1 confirmation. But then again, in this regard, I don't consider Bitcoin to function very well. It's great to complete online purchases, but not when it comes to completing payments in physical stores. Especially when it comes to larger amounts as you'll be forced to wait for at least 1 confimation.

sportis

sr. member

Activity: 406

Merit: 252

Veni, Vidi, Vici

Quote from: Khailerdaz on December 11, 2016, 08:20:19 PM

Bitcoin transaction is fast because nothing impossible in technology. If someone gives you a bitcoin, you can easily convert it into something. In bitcoin transactions, it needs some of our real information to verify our identity.

Bitcoin transactions are fast when I buy something from Internet sitting on the chair front of my computer but is extremely slow when I wait in the cashier of a supermarket with 10 other people behind me expecting to pay with cash or their debit/credit cards.

Pattart

hero member

Activity: 1190

Merit: 500

Quote from: al0729 on December 13, 2016, 03:16:02 AM

maybe for the high class restaurants or store's. But here in the philippines i dont think that bitcoin can be use as transsaction many middle class people dont know or dont have any idea about bitcoin .

I think even people who know about bitcoin, and bitcoin users today are mostly middle class, believe it or not menggunakan bitcoin bitcoin users to earn money and it is mostly middle class
I think bitcoin transaction speed fairly quickly, although there is a problem on confirmation

skyway1

full member

Activity: 224

Merit: 100

Quote from: al0729 on December 13, 2016, 03:16:02 AM

maybe for the high class restaurants or store's. But here in the philippines i dont think that bitcoin can be use as transsaction many middle class people dont know or dont have any idea about bitcoin .

Yeah many people do not know about bitcoin that what is bitcoin but i hope bitcoin will be more popular in the future and i hope that all people will be aware from bitcoin in the future and we will be support bitcoin and make it a famous currency.

al0729

newbie

Activity: 38

Merit: 0

maybe for the high class restaurants or store's. But here in the philippines i dont think that bitcoin can be use as transsaction many middle class people dont know or dont have any idea about bitcoin .

jvc12

newbie

Activity: 14

Merit: 0

the transaction of bitcoin as we all have got to know in the past few years and up till now all we have heard about bitcoin transaction is that the transaction are fast and its easy to do but if there be any time or any were by which the transaction were slow in that case i think some thing have to be don really fast.

carlisle1

hero member

Activity: 2744

Merit: 541

Campaign Management?"Hhampuz" is the Man

Quote from: Zadicar on December 12, 2016, 10:49:44 AM

Quote from: ardentvolcanoes on December 12, 2016, 10:36:41 AM

Quote from: Harsh32 on July 24, 2016, 12:04:00 AM

is it possible that bitcoin will be accepted in local stores, shops etc. since transactions are to slow and customers have to wait until their transactions are verified. And nobody wants to wait.
Can transactions be seeded up to save customers time or any other way to use bitcoin at local stores.

lol it is just like you are on the grocery and you are about pay for the stuffs that you are going to buy but you seems to be on the long queue so you really have to wait until you get near to the cashier then it is almost the same with the bitcoin transaction you often got stuck on the long queue because you are not the only person who makes a bitcoin transaction time to time although the transactions are not steady on the fast processing but still it satisfies most of the users and I think that transaction process will be improved in the future .

If bitcoins adoption will arise on a particular area and it happens on mall majority then time would be really save since bitcoin transfers are easy and theres no need to wait to confirm since bitcoins transactions are irreversible which means if you pay directly to the goods you bought then you transfer the bitcoins if it shows the transaction then its already considered as okay.

you are right, actually there's nothing to worry about with the slow transaction because like what you have said since the transactions made with bitcoin are irreversible there's nothing to worry about if the transaction will be delayed as long as you already made a transaction then everything is gonna be fine waiting for the confirmations to be completed is not a problem .

Zadicar

legendary

Activity: 1386

Merit: 1020

DGbet.fun - Crypto Sportsbook

Quote from: ardentvolcanoes on December 12, 2016, 10:36:41 AM

Quote from: Harsh32 on July 24, 2016, 12:04:00 AM

is it possible that bitcoin will be accepted in local stores, shops etc. since transactions are to slow and customers have to wait until their transactions are verified. And nobody wants to wait.
Can transactions be seeded up to save customers time or any other way to use bitcoin at local stores.

lol it is just like you are on the grocery and you are about pay for the stuffs that you are going to buy but you seems to be on the long queue so you really have to wait until you get near to the cashier then it is almost the same with the bitcoin transaction you often got stuck on the long queue because you are not the only person who makes a bitcoin transaction time to time although the transactions are not steady on the fast processing but still it satisfies most of the users and I think that transaction process will be improved in the future .

If bitcoins adoption will arise on a particular area and it happens on mall majority then time would be really save since bitcoin transfers are easy and theres no need to wait to confirm since bitcoins transactions are irreversible which means if you pay directly to the goods you bought then you transfer the bitcoins if it shows the transaction then its already considered as okay.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

It's worth remembering that bitcoin is the fastest way to send money. Credit cards take days or weeks to confirm and are rife with fraud. When I order something online, a vendor can wait for confirmation that normally takes minutes. Then the vendor can ship with absolute certainty of payment. Unlike a card, the vendor has money, not the promise of future money, but the actual money.

ardentvolcanoes

sr. member

Activity: 1050

Merit: 252

Quote from: Harsh32 on July 24, 2016, 12:04:00 AM

is it possible that bitcoin will be accepted in local stores, shops etc. since transactions are to slow and customers have to wait until their transactions are verified. And nobody wants to wait.
Can transactions be seeded up to save customers time or any other way to use bitcoin at local stores.

lol it is just like you are on the grocery and you are about pay for the stuffs that you are going to buy but you seems to be on the long queue so you really have to wait until you get near to the cashier then it is almost the same with the bitcoin transaction you often got stuck on the long queue because you are not the only person who makes a bitcoin transaction time to time although the transactions are not steady on the fast processing but still it satisfies most of the users and I think that transaction process will be improved in the future .

thejaytiesto

legendary

Activity: 1358

Merit: 1014

I just made a bitcoin transaction to make a payment, and it went smooth, the average 10 minutes for the confirmation to happen was there as always. I used bitcoin core's recommended fee. I only ever had a problem when it was during a massive ddoss spam attack, other than that during normal usage I have never had any delays. I think the problem is because people using wallets that don't recommended the proper fee.

carlisle1

hero member

Activity: 2744

Merit: 541

Campaign Management?"Hhampuz" is the Man

Quote from: Positid on December 11, 2016, 09:28:49 PM

Quote from: jossiel on December 11, 2016, 08:36:35 PM

Quote from: Khailerdaz on December 11, 2016, 08:20:19 PM

Bitcoin transaction is fast because nothing impossible in technology. If someone gives you a bitcoin, you can easily convert it into something. In bitcoin transactions, it needs some of our real information to verify our identity.

Yes surely it is fast but it depends on the miners fee you got because when you are going to send some bitcoins and the miners you paid is not that acceptable.

Then the miners will put your transaction into the last queue and they will prioritize those transactions that has acceptable and paid miners fee.

So that's the reason why sometimes our transactions are slow.

There are really times that the transactions are slow even if you choose to pay a bigger fee. But so far, it's satisfying to me.

lol i think so, It is not actually depending on the amount you are about to send and it seems you are still on the fair queue because they are not relying on the amount that you have transact but at the time that you have made a transaction so meaning to say it is not often Fast or Slow if you unfortunately chased the last queue then you really have to wait .

Positid

sr. member

Activity: 378

Merit: 250

BULL RUN until 2030

Quote from: jossiel on December 11, 2016, 08:36:35 PM

Quote from: Khailerdaz on December 11, 2016, 08:20:19 PM

Bitcoin transaction is fast because nothing impossible in technology. If someone gives you a bitcoin, you can easily convert it into something. In bitcoin transactions, it needs some of our real information to verify our identity.

Yes surely it is fast but it depends on the miners fee you got because when you are going to send some bitcoins and the miners you paid is not that acceptable.

Then the miners will put your transaction into the last queue and they will prioritize those transactions that has acceptable and paid miners fee.

So that's the reason why sometimes our transactions are slow.

There are really times that the transactions are slow even if you choose to pay a bigger fee. But so far, it's satisfying to me.

Evansloin

member

Activity: 87

Merit: 10

Some are fast and some are slow its really depending on the fee' you are using to be hones, I have sometimes fast confirms but also sometimes very slow.

jossiel

hero member

Activity: 3150

Merit: 636

DGbet.fun - Crypto Sportsbook

Quote from: Khailerdaz on December 11, 2016, 08:20:19 PM

Bitcoin transaction is fast because nothing impossible in technology. If someone gives you a bitcoin, you can easily convert it into something. In bitcoin transactions, it needs some of our real information to verify our identity.

Yes surely it is fast but it depends on the miners fee you got because when you are going to send some bitcoins and the miners you paid is not that acceptable.

Then the miners will put your transaction into the last queue and they will prioritize those transactions that has acceptable and paid miners fee.

So that's the reason why sometimes our transactions are slow.

Khailerdaz

newbie

Activity: 18

Merit: 0

Bitcoin transaction is fast because nothing impossible in technology. If someone gives you a bitcoin, you can easily convert it into something. In bitcoin transactions, it needs some of our real information to verify our identity.

TastyChillySauce00

legendary

Activity: 3010

Merit: 1028

Leading Crypto Sports Betting & Casino Platform

Quote from: Skarner21 on December 11, 2016, 05:56:13 PM

Quote from: OROBTC on December 11, 2016, 05:45:38 PM

Quote from: michnelli6 on December 11, 2016, 03:50:26 PM

Quote from: qiman on December 10, 2016, 06:00:52 AM

In the past month we had around 8 bitcoin transactions that took nearly 24 hours to confirm so it was very nerve wracking to say the least, but in the end they did finally reach their destination in tact. We are just paying more in miner's fees now to make sure they get transferred in reasonable time.

Honestly if I am doing a 8 bitcoins transaction then for sure I would pay 0.005 btc fees and hence have issues for getting the confirmation. People are used to of paying the normal 0.0001 fees but guys the fees has now a new standard which is 0.0002 or pay as per the size of it.
In simple and short, pay 0.0005 each transaction you make and you will have much quicker confirms.

Yep. Essentially ALL of my Bitcoin transactions are "important", so I pay up, typically BTC0.0002, sometimes more, sometimes less. Depending on size of transaction and how fast I want it confirmed (usually fast, I'm a busy guy).

Even BTC0.0005 is not all that much is US$: $0.38 or so, if important enough to merit fastest service from the miners. 38 cents is nothing.

0.0002 sat is not enough if you get above 200 bytes sometimes i am getting 800 or 900/b and 20k sat it takes longer time to receive.
But above 20k or if you are paying 50k sat it is more fast to be approve than the 20k fee.
The problem is we ca not know if our transaction will be high size or not..
Do you think there is a way to know it?

To calculate the transactions' size had been discussed in this link : http://bitcoin.stackexchange.com/questions/1195/how-to-calculate-transaction-size-before-sending , Though you don't really need to calculate the exact size of a transaction if the wallets you were using have had a automated fees. it will calculate the size itself and determine the recommended fees for the transaction

agamasrori

sr. member

Activity: 364

Merit: 250

Quote from: Viviyang on December 11, 2016, 04:35:22 PM

It depends on how much transaction fees you are giving and apart from that if their is heavy transaction traffic on the blockchain network then the transaction gets delay in confirmation . If you have payed the correct transaction fees , then it will take very less time to get confirmation.

Yeah, there are already two choice. People who wants faster transaction can choose to pay higher fee. But customer always choose lowest fee cost. I hope bitcoin transaction can get faster, couse I think its still litle bit slow.

Skarner21

hero member

Activity: 700

Merit: 500

Massive price drop coming...

Quote from: OROBTC on December 11, 2016, 05:45:38 PM

Quote from: michnelli6 on December 11, 2016, 03:50:26 PM

Quote from: qiman on December 10, 2016, 06:00:52 AM

In the past month we had around 8 bitcoin transactions that took nearly 24 hours to confirm so it was very nerve wracking to say the least, but in the end they did finally reach their destination in tact. We are just paying more in miner's fees now to make sure they get transferred in reasonable time.

Honestly if I am doing a 8 bitcoins transaction then for sure I would pay 0.005 btc fees and hence have issues for getting the confirmation. People are used to of paying the normal 0.0001 fees but guys the fees has now a new standard which is 0.0002 or pay as per the size of it.
In simple and short, pay 0.0005 each transaction you make and you will have much quicker confirms.

Yep. Essentially ALL of my Bitcoin transactions are "important", so I pay up, typically BTC0.0002, sometimes more, sometimes less. Depending on size of transaction and how fast I want it confirmed (usually fast, I'm a busy guy).

Even BTC0.0005 is not all that much is US$: $0.38 or so, if important enough to merit fastest service from the miners. 38 cents is nothing.

0.0002 sat is not enough if you get above 200 bytes sometimes i am getting 800 or 900/b and 20k sat it takes longer time to receive.
But above 20k or if you are paying 50k sat it is more fast to be approve than the 20k fee.
The problem is we ca not know if our transaction will be high size or not..
Do you think there is a way to know it?

OROBTC

legendary

Activity: 2968

Merit: 1895

Quote from: michnelli6 on December 11, 2016, 03:50:26 PM

Quote from: qiman on December 10, 2016, 06:00:52 AM

In the past month we had around 8 bitcoin transactions that took nearly 24 hours to confirm so it was very nerve wracking to say the least, but in the end they did finally reach their destination in tact. We are just paying more in miner's fees now to make sure they get transferred in reasonable time.

Honestly if I am doing a 8 bitcoins transaction then for sure I would pay 0.005 btc fees and hence have issues for getting the confirmation. People are used to of paying the normal 0.0001 fees but guys the fees has now a new standard which is 0.0002 or pay as per the size of it.
In simple and short, pay 0.0005 each transaction you make and you will have much quicker confirms.

Yep. Essentially ALL of my Bitcoin transactions are "important", so I pay up, typically BTC0.0002, sometimes more, sometimes less. Depending on size of transaction and how fast I want it confirmed (usually fast, I'm a busy guy).

Even BTC0.0005 is not all that much is US$: $0.38 or so, if important enough to merit fastest service from the miners. 38 cents is nothing.

Topic: bitcoin transactions - Slow OR Fast - page 12. (Read 40467 times)