bitcoin transactions - Slow OR Fast - page 15.

hawkins

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Quote from: xIIImaL on December 08, 2016, 11:48:55 PM

Quote from: rajasumi3 on December 08, 2016, 11:20:22 PM

bitcoin transactions are fast but due to problems in blockchain the transactions have become much slower than before .hope the programmers will make the necessary changes and make it better as soon as possible .and so that bitcoins take over the world.

Transaction might be due to you might had low fees while you transferring bitcoins which lower than minimum estimated value. However, try to have atleast minimum required balance and it will get transferred with in 4 blocks and 30 mins time interval.

correct. probably the main cause of it is the low fee. if you make a transaction, try to make feenya a little more, it could speed up the transaction. Well, add fee will not make a loss in significant amounts. if you deficiency fee, most likely, confirmation that happen to be very long

xIIImaL

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Quote from: rajasumi3 on December 08, 2016, 11:20:22 PM

bitcoin transactions are fast but due to problems in blockchain the transactions have become much slower than before .hope the programmers will make the necessary changes and make it better as soon as possible .and so that bitcoins take over the world.

Transaction might be due to you might had low fees while you transferring bitcoins which lower than minimum estimated value. However, try to have atleast minimum required balance and it will get transferred with in 4 blocks and 30 mins time interval.

rajasumi3

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bitcoin transactions are fast but due to problems in blockchain the transactions have become much slower than before .hope the programmers will make the necessary changes and make it better as soon as possible .and so that bitcoins take over the world.

Ryan Dugan

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I'm very happy with the speed. I dont use so much fpr fees and small amount go quickly bigger amounts with low fees take 20-30 minutes then they fully confirmed. Much better and quicker then banks that is for sure. With them you must sometimes wait toll the next day and then there is the reverse charge issue.

Positid

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Quote from: Harsh32 on July 24, 2016, 01:04:00 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.

yes bitcoin transaction is very slow but i think it's better because ensure it's really you or not .and your approval transaction

Transactions are instant. So. Ya. The @OP worded it incorrectly. Confirmations take time but the transaction itself is instant. Did you know credit cards take day/weeks to confirm transactions? What exactly is a better, faster method than bitcoins? Send an appropriate fee and it'll be confirmed in the next block. If you're too damn cheap then you deserve slower confirmation times.

Correct bitcoin is still faster than most other methods of international transactions like Western union, or banks transfers but I think that most people want of bitcoin very fast transactions especially if we are to move to the mainstream and use it everywhere.

But what the guy said in the first quote makes sense. Will the restaurants, stores want to accept Bitcoins as payment method, even if it takes some time to complete transaction? I think people can feel a bit uncomfortable about it.

Maybe the Bitcoin technology can advance a bit more and find a way to make the transactions faster to be completed, what do you think? Would this be possible?

Right now if you add a nice fee you can get confirmation between 0 and 30 minutes I think if we can reduce that time to something like 0 to 5 minutes then we could make payments in places like restaurants were time may not be as tight like in other circumstances.

thats right , Bitcoin confirmation is quite slow thats why other shops has a reason why not they accepts bitcoin as payments to their shops.They accept bank transactions because bank transaction is a instant transaction . They dont need to wait for a couple of minutes to wait for.confirmation.

yup and i think it is the main problem for the economic businessman because they don't want when they make a transaction, they need to wait to get 1 confirmation in almost 30 minutes or so, but they only want to wait for short time while they can do other transaction and this should be improved to be a good enough when the economic businessman wants to use bitcoin.

For me it depends on the situation. Like Bitcoin sending/receiving is ideal if you don't need the money urgently like you don't mind the wait. But if you are waiting in line or in a drive thru then it is actually impossible to be efficient using Bitcoin as mode of payment because it is slow and can make problems for the business establishment.

We must adjust because the system is just like that, depends on the situation as when more transactions are to be process then the system is slow. Why are we complaining much about the slow transaction of bitcoin when even in banks it takes 3 days to receive our international fund transfers.

Harlot

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