Topic: bitcoin transactions - Slow OR Fast - page 25. (Read 40467 times)
in the end, the higher the transaction fees, the faster it gets to confirm transaction, hmmm
This Bitcoin lighting project should be the end for slow transaction cause each month and year, things re getting slower and slower. Anyway, I see BTC as a store of value not as every day currency. But some speed would be good.
In the future sure somethign should be made to make the confirmations time being lowere to 1 -2 minutes, i dont know how bad this can be for the security issues, bitcoin its currently the most safe way to make a transaction, while others ways does have some problems.
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.
i think at very low transaction charge we can pay easily because confirmation is like a natural process in the bitcoin world , so we don't have need for payment confirmation at shop .Can transactions be seeded up to save customers time or any other way to use bitcoin at local stores.
The latest transactions I have done are on the slow side, and I always use the recommended fee by core software, but at the end of the day it always goes through. Let's just hope segwit makes things a bit faster until we have the lightning network, which I hope can solve all those problems.
It depends on each day sometimes fast and sometimes slow depends on blockchain speed.I got 1 time instant deposit and withdrawal i couldnt beleive how was so fast.
Transactions are being dependent on how much is the fee so mostly what is happening when a transaction has high fee and that is already in the blockchain unconfirmed transaction. The miners will see it and they will prioritize and confirm your transaction immediately. That is why your transaction as just like becoming instant.
It is also not one of the things that define the factored into the confirmation is done. Because I never tried to make deals with the fee already recommended by the senior who already understand about it all. And the most decisive confirmation in any transaction done is block and from the block they employed miners bitcoin
It depends on each day sometimes fast and sometimes slow depends on blockchain speed.I got 1 time instant deposit and withdrawal i couldnt beleive how was so fast.
Transactions are being dependent on how much is the fee so mostly what is happening when a transaction has high fee and that is already in the blockchain unconfirmed transaction. The miners will see it and they will prioritize and confirm your transaction immediately. That is why your transaction as just like becoming instant.
It depends on each day sometimes fast and sometimes slow depends on blockchain speed.I got 1 time instant deposit and withdrawal i couldnt beleive how was so fast.
Actually the transactions for bitcoin is dependent upon the transactions making by the user. If the transaction is easy well it is a fast transaction but if the transaction is difficult of course it will take a long time to be done.
first in 2014 when I began to recognize bitcoin, bitcoin transactions very fast .. maybe because its still a little bit, but now in addition to a large fee, bitcoin transactions are also counted slightly slowed from previous years..
That's not true. First of all, transactions come through instant, it's the confirmation times that will make you wait. I am using Bitcoin since very early 2013, and there is no difference in confirmation times from my experience. Some times I had the luck to get 3 or 4 confirmations in 30 minutes, and some times I had to wait like +45 minutes in order to get a single confirmation. That's still the case for me.
However, in order to achieve the same, I have to include a significantly higher fee compared to how it was back in the days when I started with Bitcoin in 2013. I was sending transactions without any fees, and they got included in the first block nearly all the time. Right now it's completely different. Low value transactions without any fees are ignored directly.
Some months ago, I have sent 1BTC that was sitting like 6 months in my wallet without any fees, and it got confirmed after 11 blocks. I did the same with 0.10BTC that has been sitting in its wallet for about a week, but the result was that it didn't get confirmed at all. And it's not even dust. Pools nowadays make most of their decisions based on the financial benefit, and not based on which transaction gets more priority.
first in 2014 when I began to recognize bitcoin, bitcoin transactions very fast .. maybe because its still a little bit, but now in addition to a large fee, bitcoin transactions are also counted slightly slowed from previous years..
For me its fast enough. Let's remember; no one earns from any transaction. (The fees are just very minimal, and a lot of people share that) Unlike in banks, where every transaction the bank receives something that's why it's fast to send money through bank transfers. However, if you are transferring from one bank to anther, that is another story. Transferring money over to other banks will incur expensive transaction fees and will probably take long. Unlike in bitcoins; you can send money to anyone in the world for a minimal fee and with little wait time.
https://blockchain.info/
Height Age Transactions Total Sent Relayed By Size (kB)
438677 3 minutes 2853 23,070.32 BTC BTCC Pool 998.86
438676 36 minutes 294 870.02 BTC GBMiners 749.19
33 minutes before it found 1 Block
Height Age Transactions Total Sent Relayed By Size (kB)
438677 3 minutes 2853 23,070.32 BTC BTCC Pool 998.86
438676 36 minutes 294 870.02 BTC GBMiners 749.19
33 minutes before it found 1 Block
Not a wait for a long time, it is just like cards using, and also when you use your ATM card, than off course you have wait, only 10 min less than and maximize. So same situation in bitcoin when you use in store and also when you will use in billing payment and other way, But i think should use it because it is different way and also should know the different technology.
Before segwit added i experience of long time to confirm for every transaction in some free online wallet like coinbase . i think even in yobit when i was planning to transfer my funds to other trading site it takes a long time to confirm i notice in the transaction that there is a block lock before it confirm it takes few hours ago before i receive i notice the fee is low according to priority. so i think there is update for bitcoin transaction that is why i am halving again about transaction and now it increase the transaction fee for high priority.. i tested that even in free it fine for me but using blockchain and high fee it takes few minutes to receive..
Bitcoin transactions are fast, the most problems that users had is about confirmations, sometimes the blocks are full and if they use low fees it can takes more than 1 hour to confirm. If you use the correct fees there isn't any problem.
In electrum wallet there is a choices if you want within a block to 1 up to 25 block before it confirms i choose the maximum to send because its cheap fee and i takes few minutes to receive so it is depends in your fee to increase your priority you should put your fee into maximum or even within 2 blocks before it is confirm it takes few minutes for me to receive.. but if you pay for lowest fee sometime it takes few hours to receive.. Now a days, Bitcoin transactions are used to be slower than before because the amount of people that are using bitcoin are dramatically growing every month or even weeks. Getting slower transactions or confirmations doesn't mean that the bitcoin is getting to the end but this is a good signal that our community is growing bigger and bigger we just need some addition for miner to bear the growing population of bitcoin users so that the transactions or confirmations will be maintained.
Actually the problem is directly with the BTC code itself, numbers of Miners is irrelevant.
Either of the following would fix BTC transactions problems.
1. Increase the Block Size
or
2. Change the Block Speed to 5 minutes to Double Transaction Capacity or 2 minutes to Quadruple Transactions Capacity
(This Option will also make the confirmations much faster.)
(However China is refusing to update, so problem is Political in the BTC community not Technical as the above would fix it.)
(The Fact China can block the needed changes , proves they are the Masters of BTC and the rest of you are their Servants.)
(Want Freedom Go to an Proof of Stake Altcoin the Chinese don't Control.) (Their ASICS are useless against Proof of Stake)
Now a days, Bitcoin transactions are used to be slower than before because the amount of people that are using bitcoin are dramatically growing every month or even weeks. Getting slower transactions or confirmations doesn't mean that the bitcoin is getting to the end but this is a good signal that our community is growing bigger and bigger we just need some addition for miner to bear the growing population of bitcoin users so that the transactions or confirmations will be maintained.
At first time I getting in bitcoin world almost one years ago bitcoin transactions more faster rather than now, one years ago when I sent some bitcoin , it only take a few minutes to confirmed transactions.
But now when i need to sent my bitcoin into someone should wait more than 10 minutes for confirmation of transactions. Even i ever wait almost 30 minutes.
Bitcoin transactions are fast, the most problems that users had is about confirmations, sometimes the blocks are full and if they use low fees it can takes more than 1 hour to confirm. If you use the correct fees there isn't any problem.
Now a days, Bitcoin transactions are used to be slower than before because the amount of people that are using bitcoin are dramatically growing every month or even weeks. Getting slower transactions or confirmations doesn't mean that the bitcoin is getting to the end but this is a good signal that our community is growing bigger and bigger we just need some addition for miner to bear the growing population of bitcoin users so that the transactions or confirmations will be maintained.
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