Topic: bitcoin transactions - Slow OR Fast - page 28. (Read 40467 times)
Bitcoin transaction is fast, but the confirmation may take some time. It depends how much the bitcoin amount is sent. If you sent a big amount then pay for more fees to get confirmation faster, if you pay it in low fees, it may take a long time to get confirmation.
No doubt that bitcoin transaction is very fast i can not encounter that it take an hour to confirm my transaction that is why i also recommend bitcoin to all my friends to use for their online transaction and the feedback is great.
It all depends on how much fees you are paying for the transaction. Sometimes I don’t think it necessary to transfer funds from my one wallet to another or from exchange to my wallet because usually I calculate and manage funds at night and thus it doesn’t matter even if it took 4 hours to complete the transaction but it reduces fees so not every time I look for fast transaction.
I don`t have rich experience like people that commented this topic, my transactions was mostly too and from casino. Sometimes this deposits and withdraws are going very fast, like in couple minutes I receive bitcoin, and after maximum half an hour they are confirmed.
Also I had situation when I waited incredibly long, and in that times its a bit boring to wait but what to do, there is no other way. I don`t hurry and for me this waiting is not a big deal, but I can imagine that people that need speed for their businesses this confirmation time can be a killer. I think this will be sorted with time.
Also I had situation when I waited incredibly long, and in that times its a bit boring to wait but what to do, there is no other way. I don`t hurry and for me this waiting is not a big deal, but I can imagine that people that need speed for their businesses this confirmation time can be a killer. I think this will be sorted with time.
As i know the transaction its instant, but we need the network to confirm it, soo usually takes 30- 1 hour to get 3 confirmations, that the most people does use to accept a deposit, considering bitcoin has a big security level, i dont care have to wait a bit.
I think the transaction of bitcoin its takes 30-60 minutes to confirmed transaction. I think also if you send or recieve bitcoin bigger its takes 2-4 hrs . but if you send or recieve bitcoin low it takes 30-60 minutes . the worst scenerio other people wait 24-48 hrs to confirmed transaction that is very worst for me and for them.
The size of the transaction should have little to do with the confirmation times dependent on the correct fee being added.A simple 1 input 1 output tx with a 0.0002btc fee should confirm within 10min no matter if the amount sent is 0.001btc or 1000btc.
I think the transaction of bitcoin its takes 30-60 minutes to confirmed transaction. I think also if you send or recieve bitcoin bigger its takes 2-4 hrs . but if you send or recieve bitcoin low it takes 30-60 minutes . the worst scenerio other people wait 24-48 hrs to confirmed transaction that is very worst for me and for them.
Bitcoin transactions are incredibly fast if you compare it to the clearing times that Western Union and other money transfer "experts" offer. It is instantaneous across the globe, no matter where you are and who you are. However, the confirmations that are required are often taking a long time and is quite annoying especially if you are trying to take advantage of arbitrage between the markets.
I can't say its very fast for something done online. Of course Western Union and other Remittance centers are slow you have to communicate and confirm if there is enough money in that branch your are sending in, you don't also expect that the one you are sending money will be expecting that money fast. In Bitcoin for a virtual currency the transaction time now is so long that hoping for it to be present in local businesses is slim to none.I can't that it is also fast because there are times that when I am receiving some payments it is taking very long.
But that is not even taking for a day maybe the longest would be 1 hour only. And I can say that waiting time is really long before it gets confirmed.
Because I know some transactions that are reaching even days.
Bitcoin transactions are incredibly fast if you compare it to the clearing times that Western Union and other money transfer "experts" offer. It is instantaneous across the globe, no matter where you are and who you are. However, the confirmations that are required are often taking a long time and is quite annoying especially if you are trying to take advantage of arbitrage between the markets.
I can't say its very fast for something done online. Of course Western Union and other Remittance centers are slow you have to communicate and confirm if there is enough money in that branch your are sending in, you don't also expect that the one you are sending money will be expecting that money fast. In Bitcoin for a virtual currency the transaction time now is so long that hoping for it to be present in local businesses is slim to none. 
Bitcoin transactions are incredibly fast if you compare it to the clearing times that Western Union and other money transfer "experts" offer. It is instantaneous across the globe, no matter where you are and who you are. However, the confirmations that are required are often taking a long time and is quite annoying especially if you are trying to take advantage of arbitrage between the markets.
If you compare it a letter in the Mail, then yes, it would seem fast.
But when you compare it to other forms of electronic payments, it is super slow.
Visa Cards, PayPal, other Crypto coins are all lightening fast compared to BTC.
Confirmations are required to keep people from double spending the coins, ignore receiving the recommend confirmations at your own peril.
My favorite altcoin can do 4 full confirms in ~2 minutes, you guys should bug the BTC developers and ask them why they can't match an alt coin for speed.
FYI:
Just to Prove what I am saying,
Here is ZEIT Block Explorer : https://chainz.cryptoid.info/zeit/
Watch the blocks scroll by lightening fast and the age showing the Seconds between each Block.
Then Look at the BTC BlockChain
https://blockchain.info/
Ask the BTC devs why it takes them 10 to 20 minutes for 1 block, but yet an alt coin can run thru a block about every 30 seconds.
Bitcoin transactions are incredibly fast if you compare it to the clearing times that Western Union and other money transfer "experts" offer. It is instantaneous across the globe, no matter where you are and who you are. However, the confirmations that are required are often taking a long time and is quite annoying especially if you are trying to take advantage of arbitrage between the markets.
For me i can say that bitcoin transaction is really fast and i do not encounter the delay like sending bitcoin to my friends it take only 10 - 20 seconds then they already received it like also if exchange to fiat it only take 5-10mins i can take it easily.
Ok,
exactly how are you sending BTC that it is received by your friends in 10-20 seconds.
The BTC BlockChain Block Speed is 10 minutes, so what you are saying is impossible,
You can't even get 1 confirmation on the blockchain in that amount of time.
Only way that would be possible is an Off Blockchain transfer, which if that is the case you aren't even using the BTC blockchain and is totally irrelevant to the topic.
So enlighten us , how you are doing the impossible.
How fast a transaction is depends on the fee you gave the miners, how busy is the network and what kind of transaction you are having since buying something from a local store needs to be very fast while buying something for which you need to sign a contract does not need to be that fast.
There is no fix time to determine how fast the transaction in the blockchain as sometimes it's fast and sometimes it's low. You are right it depends on the miners, if the volume is high and miners are low of course what will happen is that the transaction is low.Whatever it is in overall bitcoin transaction is still fast.
BTC transfers are so slow, it is painful.
You can tell when people have never used other coins.
Credit cards are faster,
90% of the Altcoins are way faster.
Use Litecoin or Dogecoin , if you are Partial to Chinese PoW mined coins.
You see the difference and wonder why you wasted 30 minutes to and hour on BTC, when LTC & Doge are way faster. (Cheaper to send too)
FYI:
ZEIT is Faster than all 3 of them.
Only 2 minutes to complete 4 Confirmations.
BTC takes ~30 minutes to complete 3 confirmations.
For me i can say that bitcoin transaction is really fast and i do not encounter the delay like sending bitcoin to my friends it take only 10 - 20 seconds then they already received it like also if exchange to fiat it only take 5-10mins i can take it easily.
How fast a transaction is depends on the fee you gave the miners, how busy is the network and what kind of transaction you are having since buying something from a local store needs to be very fast while buying something for which you need to sign a contract does not need to be that fast.
There is no fix time to determine how fast the transaction in the blockchain as sometimes it's fast and sometimes it's low. You are right it depends on the miners, if the volume is high and miners are low of course what will happen is that the transaction is low.Whatever it is in overall bitcoin transaction is still fast.
How fast a transaction is depends on the fee you gave the miners, how busy is the network and what kind of transaction you are having since buying something from a local store needs to be very fast while buying something for which you need to sign a contract does not need to be that fast.
No doubt that bitcoin transaction is very fast i can not encounter that it take an hour to confirm my transaction that is why i also recommend bitcoin to all my friends to use for their online transaction and the feedback is great.
Bitcoin transactions may be faster than a bank taking 3-4 business days,
but this discussion was (initially) about using Bitcoin in a retail store setting.
This one of Bitcoins biggest challenges in my opinion.
No store is going to accept BTC payments unless they have a confirmation time near instant, because customers simply will not wait.
Until this technical problem can be solved, we are forced to use outside companies to load BTC onto a credit card,
or a third-party app to perform some sort of confirmation or escrow.
Until Bitcoin can get almost instant transaction confirmation it will always need to be partnered with another tech when used for purchases in-person,
or be used only as an online payment system.
but this discussion was (initially) about using Bitcoin in a retail store setting.
This one of Bitcoins biggest challenges in my opinion.
No store is going to accept BTC payments unless they have a confirmation time near instant, because customers simply will not wait.
Until this technical problem can be solved, we are forced to use outside companies to load BTC onto a credit card,
or a third-party app to perform some sort of confirmation or escrow.
Until Bitcoin can get almost instant transaction confirmation it will always need to be partnered with another tech when used for purchases in-person,
or be used only as an online payment system.
For me bitcoin transactions is fast.
Because you can easily send your
money with other people.It is a big help to people who
consume time in sending money.
true agree I agree with you. because you can send bitcoin anywhere very fast and simple. I think it's a problem confirmation is not too influentialBecause you can easily send your
money with other people.It is a big help to people who
consume time in sending money.
With bitcoin nobody has to ever worry about "business days" again
They system is different as banks are centralize and bitcoin is decentralized, so for decentralized (no checking if transactions are illegal or not).
For me bitcoin transactions is fast.
Because you can easily send your
money with other people.It is a big help to people who
consume time in sending money.
true agree I agree with you. because you can send bitcoin anywhere very fast and simple. I think it's a problem confirmation is not too influentialBecause you can easily send your
money with other people.It is a big help to people who
consume time in sending money.
With bitcoin nobody has to ever worry about "business days" again
For me bitcoin transactions is fast.
Because you can easily send your
money with other people.It is a big help to people who
consume time in sending money.
true agree I agree with you. because you can send bitcoin anywhere very fast and simple. I think it's a problem confirmation is not too influentialBecause you can easily send your
money with other people.It is a big help to people who
consume time in sending money.
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