I can't complain too much about the confirmation times, whenever i am expecting coins they seem to confirm within about 10min max depending on what fee the tx is sent with.
Things did slow down a week or so ago when the mempool got a little backed up but that sorted itself out pretty quick.
Topic: bitcoin transactions - Slow OR Fast - page 29. (Read 40467 times)
i think we should think about lowring the confirmations why dont you just accept 0 confirmations or make a special wallet which accepts zero confirmation by this you can have the instant transactions with extremly low fees
I believe that currently anyone is allowed to accept 0 confirmation transactions if they want but it is not a wise idea as the transaction you accept may be "double spent" with a higher fee to someone else shortly after.Would you really feel safe accepting a transaction before it has been confirmed by the network?
another altcoins even have faster process than bitcoin
bitcoin claimed as the fastest transaction ever , but today i feel it's not
unless yeah you accept the 0 confirmation tx which it's not recommended as vulnerable.
I hope this problem will not happen more often because I heavily rely on my transaction in the blockchain.
i think we should think about lowring the confirmations why dont you just accept 0 confirmations or make a special wallet which accepts zero confirmation by this you can have the instant transactions with extremly low fees
I believe that currently anyone is allowed to accept 0 confirmation transactions if they want but it is not a wise idea as the transaction you accept may be "double spent" with a higher fee to someone else shortly after.Would you really feel safe accepting a transaction before it has been confirmed by the network?
another altcoins even have faster process than bitcoin
bitcoin claimed as the fastest transaction ever , but today i feel it's not
unless yeah you accept the 0 confirmation tx which it's not recommended as vulnerable.
i think we should think about lowring the confirmations why dont you just accept 0 confirmations or make a special wallet which accepts zero confirmation by this you can have the instant transactions with extremly low fees
I believe that currently anyone is allowed to accept 0 confirmation transactions if they want but it is not a wise idea as the transaction you accept may be "double spent" with a higher fee to someone else shortly after.Would you really feel safe accepting a transaction before it has been confirmed by the network?
another altcoins even have faster process than bitcoin
bitcoin claimed as the fastest transaction ever , but today i feel it's not
unless yeah you accept the 0 confirmation tx which it's not recommended as vulnerable.
i think we should think about lowring the confirmations why dont you just accept 0 confirmations or make a special wallet which accepts zero confirmation by this you can have the instant transactions with extremly low fees
Lol yeah I also think that is why stores or merchants else does not want to say that the payment is made when you've sent bitcoin, they'll wait at least a transaction received one confirmation, I think it was the right idea, because it is possible that the transaction will be canceled when the process transactions are very old and has not received one confirmation though, so wait for confirmation going to be done by all merchantsGrocery Store let you buy foods with 0 confirmations,
you leave the store with his product, BTC never receives any confirmations , so the Merchant just got robbed by you.
Double Spend:
Quote
A double spend is an attack where the given set of coins is spent in more than one transaction.
There are a couple main ways to perform a double spend:
Send two conflicting transactions in rapid succession into the Bitcoin network. This is called a race attack.
There are a couple main ways to perform a double spend:
Send two conflicting transactions in rapid succession into the Bitcoin network. This is called a race attack.
90% of the Merchants accepting BTC for actual Physical Products are immediately converting to Fiat within minutes of receiving it to avoid any possible loss,
because their bills are in FIAT, and they are running a business not playing the markets.
Fluctuations of a few bucks could cost a corporation Millions. (The more Confirmations the more they can be certain it was recorded on the blockchain.)
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.
I agree that bitcoin transaction is instant and the only problem is the delayed of the confirmation. But the problem in crediting bitcoin is that, bitcoin "transaction" does not stop with just sending it, receiver needs at least 2 to 3 confirmation before they credit the transaction. And this confirmation is the problem due to the time it needs to be confirmed. And I think this problem maybe solved by the implementation of SegWit (Segregated Witness)
SegWit can't fix it
Quote
Since old nodes will only download the witness-stripped block, they only enforce the 1 MB block size limit rule on that data.
IE: Because China refuses to updatehttps://bitcoincore.org/en/2016/01/26/segwit-benefits/
Quote
It is not possible to solve this problem without either a hardfork, or substantially decreasing the block size. Since segwit can’t fix the problem, it settles on not making it worse: in particular, rather than introducing an independent limit for the segregated witness data, instead a single limit is applied to the weighted sum of the UTXO data and the witness data, allowing both to be limited simultaneously as a combined entity.
Lightening Network is BTC's Best Chance , but it will also fail , if BTC Transaction capacity is unable to keep up when the transactions it has to put on the Blockchain.
Which at the BTC current transactions limits, makes that Lightening network failure a When , not an if.
i think we should think about lowring the confirmations why dont you just accept 0 confirmations or make a special wallet which accepts zero confirmation by this you can have the instant transactions with extremly low fees
Lol yeah I also think that is why stores or merchants else does not want to say that the payment is made when you've sent bitcoin, they'll wait at least a transaction received one confirmation, I think it was the right idea, because it is possible that the transaction will be canceled when the process transactions are very old and has not received one confirmation though, so wait for confirmation going to be done by all merchants
I have had no problems lately at all using circle poloniex.
oh boy i would have not started an argument with you if i new how clueless you are. your post is prove enough, but you are here to promote some altcoin anyway, so you will not care if i just go back to the topic.
Let us assume the blocktime would be reduced to 5 or even 2 minuets. This would mean faster confirmations, but would it really solve the problem or would it only make it a little less painful. and at what cost? we would reach the 21 million faster, halvings would occur in shorter time periods and the price would go significantly down. without solving the problems we would only buy more time to solve them.
Let us assume the blocktime would be reduced to 5 or even 2 minuets. This would mean faster confirmations, but would it really solve the problem or would it only make it a little less painful. and at what cost? we would reach the 21 million faster, halvings would occur in shorter time periods and the price would go significantly down. without solving the problems we would only buy more time to solve them.
Yo Dum Dum,
The Transactions problem is because they can not hold enough transactions in 1 block to keep up with demand.
Seriously , how can you be so stupid to not understand what a kid in kindergarden would.
2 Blocks in 10 minutes allows Double the Transactions as 1 block in 10 minutes
Halving dates & PoW Rewards can be updated , just as easy as Block Speed , Change a few variables and done.
Go sit in the corner and put your hat on.
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.
I agree that bitcoin transaction is instant and the only problem is the delayed of the confirmation. But the problem in crediting bitcoin is that, bitcoin "transaction" does not stop with just sending it, receiver needs at least 2 to 3 confirmation before they credit the transaction. And this confirmation is the problem due to the time it needs to be confirmed. And I think this problem maybe solved by the implementation of SegWit (Segregated Witness)
i think we should think about lowring the confirmations why dont you just accept 0 confirmations or make a special wallet which accepts zero confirmation by this you can have the instant transactions with extremly low fees
I believe that currently anyone is allowed to accept 0 confirmation transactions if they want but it is not a wise idea as the transaction you accept may be "double spent" with a higher fee to someone else shortly after.Would you really feel safe accepting a transaction before it has been confirmed by the network?
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 influential Because you can easily send your
money with other people.It is a big help to people who
consume time in sending money.
That statement shows me , you don't understand how BTC works.
So I shall do my best to enlighten you.
Changing the Block Speed to 5 minutes , means that instead of 1 block created in 10 minutes, we now have 2 blocks created in 10 Minutes.
2 Blocks can contain Twice the amount of Transactions as 1 Block.
(Feels like I am teaching a kindergarden class. )
China internet infrastructure is substandard compared to Europe & US & Japan & South Korea.
Faster Block Speeds and Larger Block Sizes would strain their infrastructure and give these other countries an edge in mining BTC.
Ergo to maintain their higher than 51% mining control, they have to block these updates which would quickly fix BTC transactions issues.
While they have over 51% control of BTC , it is Centralized to China, meaning there will be no changes or updates unless they approve it.
You should study a 51% attack , as without understanding that , you will be clueless to the fact BTC has been centralized for over a year now.
oh boy i would have not started an argument with you if i new how clueless you are. your post is prove enough, but you are here to promote some altcoin anyway, so you will not care if i just go back to the topic. So I shall do my best to enlighten you.
Changing the Block Speed to 5 minutes , means that instead of 1 block created in 10 minutes, we now have 2 blocks created in 10 Minutes.
2 Blocks can contain Twice the amount of Transactions as 1 Block.
(Feels like I am teaching a kindergarden class. )
China internet infrastructure is substandard compared to Europe & US & Japan & South Korea.
Faster Block Speeds and Larger Block Sizes would strain their infrastructure and give these other countries an edge in mining BTC.
Ergo to maintain their higher than 51% mining control, they have to block these updates which would quickly fix BTC transactions issues.
While they have over 51% control of BTC , it is Centralized to China, meaning there will be no changes or updates unless they approve it.
You should study a 51% attack , as without understanding that , you will be clueless to the fact BTC has been centralized for over a year now.
Let us assume the blocktime would be reduced to 5 or even 2 minuets. This would mean faster confirmations, but would it really solve the problem or would it only make it a little less painful. and at what cost? we would reach the 21 million faster, halvings would occur in shorter time periods and the price would go significantly down. without solving the problems we would only buy more time to solve them.
BTC is too slow, it will never be fast enough or have the transaction capacity to fullfill a Global role.
Even the Lightening network fix, that is supposed to allow it to handle more will fail if BTC can't handle the volume, which it can't.
Coins like ZEIT with a 30 second block speed are Taylor made for Global use.
BTC with 10 minute block speed is pathetic.
Do you know if BTC was not controlled by China, then the rest of the community could go to a 5 Minute Block speed , which would double their transactions capacity or even a 2 minute block speed which would increase their transactions capacity by 5X .
But China won't allow that so they don't lose their Dominance.
Centralized Control of BTC really sucks, doesn't it.
i do not understand how a block speed of 5 or 2 minuets would change anything about the chinese dominance. hey you could open the worlds biggest mine and take the control from the chines. also you could make your rules then. Even the Lightening network fix, that is supposed to allow it to handle more will fail if BTC can't handle the volume, which it can't.
Coins like ZEIT with a 30 second block speed are Taylor made for Global use.
BTC with 10 minute block speed is pathetic.
Do you know if BTC was not controlled by China, then the rest of the community could go to a 5 Minute Block speed , which would double their transactions capacity or even a 2 minute block speed which would increase their transactions capacity by 5X .
But China won't allow that so they don't lose their Dominance.
Centralized Control of BTC really sucks, doesn't it.
saying there is a centralized control of bitcoin is like calling a democracy a dictatorship, because a party you dislike was elected.
That statement shows me , you don't understand how BTC works.
So I shall do my best to enlighten you.
Changing the Block Speed to 5 minutes , means that instead of 1 block created in 10 minutes, we now have 2 blocks created in 10 Minutes.
2 Blocks can contain Twice the amount of Transactions as 1 Block.
(Feels like I am teaching a kindergarden class. )
China internet infrastructure is substandard compared to Europe & US & Japan & South Korea.
Faster Block Speeds and Larger Block Sizes would strain their infrastructure and give these other countries an edge in mining BTC.
Ergo to maintain their higher than 51% mining control, they have to block these updates which would quickly fix BTC transactions issues.
While they have over 51% control of BTC , it is Centralized to China, meaning there will be no changes or updates unless they approve it.
You should study a 51% attack , as without understanding that , you will be clueless to the fact BTC has been centralized for over a year now.
FYI:
It is absolutely amazing ,
how many people are clueless to who controls BTC.
It was supposed to be decentralized by no one person, or one company , or one Government ever having over 51% mining.
China has had over 51% mining control over BTC for more than a year now.
BTC control has Centralized to China.
Reason being the 51% security attack warned about by Satoshi himself.
Reference: In his Bitcoin paper, Satoshi identified several issues, with the 51% attack being the greatest.
http://www.btcpedia.com/bitcoin-51-attack/
how many people are clueless to who controls BTC.
It was supposed to be decentralized by no one person, or one company , or one Government ever having over 51% mining.
China has had over 51% mining control over BTC for more than a year now.
BTC control has Centralized to China.
Reason being the 51% security attack warned about by Satoshi himself.
Reference: In his Bitcoin paper, Satoshi identified several issues, with the 51% attack being the greatest.
http://www.btcpedia.com/bitcoin-51-attack/
Quote
So what is the 51% attack? To understand that you have to understand how Bitcoin works. Essentially Bitcoin is a collection of nodes performing “virtual work”, the more work you do the higher your rating on the network. So what happens when malicious users get together and manage to do more “virtual work” than the “good people” ? Well that is the 51% attack, and it basically means you can wake up tomorrow with zero Bitcoins in your wallet. It means any business that accepts Bitcoins can get robbed and have all their goods taken with fake Bitcoins. It also means if they wanted, governments, large corporations or hackers can “shut down the network” by refusing to accept any new transactions. Complete network shutdown. Can’t do anything with your Bitcoins, neither can anyone else.
FYI2:
China is the World's Leading Manufacturer of ASICS, they are always going to keep the fastest and most efficient ASICS for their pools.
Waste of Fiat trying to beat them on BTC, they have already won, BTC Future is theirs to control.
Smartest move is to just use another coin without the limitations of BTC.
That is why I use ZEIT it is faster, higher transactions capacity, Truly Decentralized (Everyone that owes it can mine it) , Protected from 51% attacks by the chaos effect of Coin Age, requires no more electricity than a light bulb to run.
BTC is too slow, it will never be fast enough or have the transaction capacity to fullfill a Global role.
Even the Lightening network fix, that is supposed to allow it to handle more will fail if BTC can't handle the volume, which it can't.
Coins like ZEIT with a 30 second block speed are Taylor made for Global use.
BTC with 10 minute block speed is pathetic.
Do you know if BTC was not controlled by China, then the rest of the community could go to a 5 Minute Block speed , which would double their transactions capacity or even a 2 minute block speed which would increase their transactions capacity by 5X .
But China won't allow that so they don't lose their Dominance.
Centralized Control of BTC really sucks, doesn't it.
i do not understand how a block speed of 5 or 2 minuets would change anything about the chinese dominance. hey you could open the worlds biggest mine and take the control from the chines. also you could make your rules then. Even the Lightening network fix, that is supposed to allow it to handle more will fail if BTC can't handle the volume, which it can't.
Coins like ZEIT with a 30 second block speed are Taylor made for Global use.
BTC with 10 minute block speed is pathetic.
Do you know if BTC was not controlled by China, then the rest of the community could go to a 5 Minute Block speed , which would double their transactions capacity or even a 2 minute block speed which would increase their transactions capacity by 5X .
But China won't allow that so they don't lose their Dominance.
Centralized Control of BTC really sucks, doesn't it.
saying there is a centralized control of bitcoin is like calling a democracy a dictatorship, because a party you dislike was elected.
BTC is too slow, it will never be fast enough or have the transaction capacity to fullfill a Global role.
Even the Lightening network fix, that is supposed to allow it to handle more will fail if BTC can't handle the volume, which it can't.
Coins like ZEIT with a 30 second block speed are Taylor made for Global use.
BTC with 10 minute block speed is pathetic.
Do you know if BTC was not controlled by China, then the rest of the community could go to a 5 Minute Block speed , which would double their transactions capacity or even a 2 minute block speed which would increase their transactions capacity by 5X .
But China won't allow that so they don't lose their Dominance.
Centralized Control of BTC really sucks, doesn't it.
Even the Lightening network fix, that is supposed to allow it to handle more will fail if BTC can't handle the volume, which it can't.
Coins like ZEIT with a 30 second block speed are Taylor made for Global use.
BTC with 10 minute block speed is pathetic.
Do you know if BTC was not controlled by China, then the rest of the community could go to a 5 Minute Block speed , which would double their transactions capacity or even a 2 minute block speed which would increase their transactions capacity by 5X .
But China won't allow that so they don't lose their Dominance.
Centralized Control of BTC really sucks, doesn't it.
In my opnion besides the time we have the taxes.
To someone make a purchase in a store with bitcoin, he will have to buy bitcoin on a exchange and pay taxes and after it the owner of the store will have to use an exchange again to convet to fiat to pay bills/employees and others things, so in this way you have to spend 5% on taxes
which is no longer the case if we all switch to bitcoin. i mean the exchanging between fiat and bitcoin. i have no doubt that it is possible to have a region only use bitcoin for all money transfers, but would it be better or faster as what we have now? i doubt that! To someone make a purchase in a store with bitcoin, he will have to buy bitcoin on a exchange and pay taxes and after it the owner of the store will have to use an exchange again to convet to fiat to pay bills/employees and others things, so in this way you have to spend 5% on taxes
In my opnion besides the time we have the taxes.
To someone make a purchase in a store with bitcoin, he will have to buy bitcoin on a exchange and pay taxes and after it the owner of the store will have to use an exchange again to convet to fiat to pay bills/employees and others things, so in this way you have to spend 5% on taxes
To someone make a purchase in a store with bitcoin, he will have to buy bitcoin on a exchange and pay taxes and after it the owner of the store will have to use an exchange again to convet to fiat to pay bills/employees and others things, so in this way you have to spend 5% on taxes
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.
good idea if bitcoin can be accepted in daily life like local store and shop . but if transactions very slow . how about debit bitcoin ? i think thats good Can transactions be seeded up to save customers time or any other way to use bitcoin at local stores.
Bitcoin transaction is fast as compared to money transfer across multi countries because generally it takes 1 to 10 minutes and it takes upto 1 hour only in some cases. But bank transfer takes more time then this and also bal cut l have transaction fees but with bitcoin we can do the same task with little fees. But bottom acceptance in local shop with make the situation worst because no customer will want to wait till the payment is verified.
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