bitcoin transactions - Slow OR Fast - page 31.

Wowcoin

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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.

Maybe they can accept it because in our country local wallet of bitcoin like php wallet if you transfer it instant to recieve it so theres no problem in transaction. But is the bitcoin come from blockchain that is a problem because we need to wait until the confirm it so the thing to do is use a local wallet to avoid slow transaction.

betohell

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Quote from: 2double0 on October 28, 2016, 07:09:34 AM

If you pay fee relevant to your transaction size, then I don't think there is any reason for it not to go through and confirm.
Pay the least fee as recommended, even BTC0.0001 would do (BTC0.0002 is the current normal fee).

yeah i think the speed of the transaction will depend on the confirmation of the fee you spend if you use only 0.0001 BTC, I think you will not get high-speed transactions?

shinratensei_

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Quote from: nara1892 on October 28, 2016, 09:10:53 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.

I also think about that. what if we need to wait 30 minutes until one hour for a transaction in general shops? it doesn't make any sense.

I think bitcoin transaction sometimes is fast, and sometimes slow.

You're wrong at all and about your understanding are missing from interpretation the definition of transaction. everywhere, every place and every time all of the type of transaction are same but it's different on the legalism gateway of the transaction, as you can see the legal financial institution are never needed any confirmation like bitcoin for making their transaction are legal because they're already having all of the legalism, and different with bitcoin are need getting a confirmation for getting their legalism, it's not about fast or not the transaction but it's caused by for avoiding the illegalism transaction and especially double spending.

ashiqdey

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adoption of bitcoin acceptance in offline local store is very low because sometimes it takes more than 1 hour and summertime 24 hours also to verify bitcoin transaction so customers couldn't wait that much time. bitcoin transaction is fastest as compared to transaction speed of banks across multi nation.

eternalgloom

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Quote from: neochiny on October 28, 2016, 07:51:21 AM

Well, I have yet to encounter a situation where the confirmation times mattered because I haven't actually seen/used a physical shop where they accept bitcoin as payment, so for me, the confirmation times doesn't really matter yet.

BUt, when/if I can finally use bitcoin in everyday transactions offline, then the confirmation times really matters. It would also help if third party apps aren't needed just to speed things up,coz those always come with additional fees as well as an extra step or two. If it was a large/expensive transaction then the time wouldn't matter, but for ordinary ones, well, having to wait 5 - 20 mins for the confirmations is a huge hassle. Hope it can somehow be shortened like paying through credit cards if not fiat. (lol.)

Confirmation times can also matter for online transactions.
When I sell Bitcoins through Bitonic.nl (Only for Belgium and Netherlands), I basically have a 30 minute window to get one confirmation, or the transaction gets cancelled and they send back the Bitcoins after it has finally confirmed.
So that's a huge pain in the ass if that happens.

danherbias07

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For me it is still faster than any money transfer. I have been using WU and Moneygram but still I am preferring this option. True that there is a real problem regarding where to get the money but in terms of sending it is really good.

nara1892

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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.

I also think about that. what if we need to wait 30 minutes until one hour for a transaction in general shops? it doesn't make any sense.

I think bitcoin transaction sometimes is fast, and sometimes slow.

Mr.grin

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Quote from: 2double0 on October 28, 2016, 07:09:34 AM

If you pay fee relevant to your transaction size, then I don't think there is any reason for it not to go through and confirm.
Pay the least fee as recommended, even BTC0.0001 would do (BTC0.0002 is the current normal fee).

you're right, by paying a fee, I think bitcoin transactions can be faster. Well, I had an experience like that. in blockchain old, you can withdraw all the money you have, but the transaction will be confirmed in a long time. however, if you pay the fee, then the transaction will happen faster

kidoseagle0312

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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.

In regardless about bitcoin, Slow or Fast transaction I think it will be depend on the location, Because in my experience here in my country not all location here have strong internet connection, there are some area that the data connection was very weak and some are strong or fast.

Doamader

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Looks like the transactions speed its normal once again, this week there were a big number of transactions around 70000 pending, does anyone found if were a spam attack, or just because the price changes people made more transactions?

neochiny

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Well, I have yet to encounter a situation where the confirmation times mattered because I haven't actually seen/used a physical shop where they accept bitcoin as payment, so for me, the confirmation times doesn't really matter yet.

BUt, when/if I can finally use bitcoin in everyday transactions offline, then the confirmation times really matters. It would also help if third party apps aren't needed just to speed things up,coz those always come with additional fees as well as an extra step or two. If it was a large/expensive transaction then the time wouldn't matter, but for ordinary ones, well, having to wait 5 - 20 mins for the confirmations is a huge hassle. Hope it can somehow be shortened like paying through credit cards if not fiat. (lol.)

2double0

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If you pay fee relevant to your transaction size, then I don't think there is any reason for it not to go through and confirm.
Pay the least fee as recommended, even BTC0.0001 would do (BTC0.0002 is the current normal fee).

Ryananda

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Yes indeed to use bitcoin as a payment method at local stores directly to me still can not run, because it's like you're saying that it takes time to obtain confirmation of the transaction. But for online stores I think it can be done because we could wait for confirmation of payment at home with ease.
Bitcoin transaction confirmation is relatively long in my opinion because it still takes time. Maybe if corrected and accelerated transaction will be very good and perfect.

mirakal

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I have experience a very fast transaction today unlike in the previous day, may transaction was already confirm in less than 5 minutes. I think it is the fastest so far although the price is rising, I hope this will last and continue.

BossMacko

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In my experience in depositing and withdrawing Bitcoin this past few days is the transaction is fast , In my coins.ph when i am sending Bitcoin to some of my gambling address it only took me less than 30 minutes or less than an hour before i received my deposits. Also i tried withdrawing some money from some gambling site and it only took less than 30 minutes before it completely appeared in my Bitcoin address.

bitkilo

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https://www.bitcoin.com/

Things are very slow today and the mem pool is large but declining so if sending any urgent transactions in the next 12-24 hours I would recommend that you add a larger size fee than usual, maybe as high as 0.0008btc

traderethereum

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for today i am trying to make withdraw from my wallet into other wallet for three times, 0.01 btc, 0.00045, and 0.00245. the first its need time for almost 1 hours to complete confirmations. the second need at least 30 minutes to get receive confirmation because i am buying something. the third i think its need 15 minutes.

yes its not stable i think but i am fine because the traffic is sometime getting busy and this is why many pending transaction we can see on blockchain.

cjmoles

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Sometimes transactions are confirmed in a few seconds and sometimes they take much longer but it all averages out to be about ten minutes per block. What gets to me is when I have to complete a transaction within around 10 to 15 minutes and I get my transaction caught up in the block that takes an hour to solve! <--- That could be problem sometimes!

ether19

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BTC. ETC. EOS

Bitcoin transactions are slow and it can get slower in the coming months if the developers team doesn't do anything about it. I have heard of plans such as introducing segwit and other techniques such as increasing the block size which can greatly increase the speed of transaction. If these plans are well executed, then it can be a big game changer for bitcoin.

Doms

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I think with blockchain.info, there is an option wherein you could add a little extra on the transaction charge in order for the processing to be faster. I am not too sure about this since I haven't tried it because I always stick to the standard rates. I have also noticed that confirmation time varies every now and then, maybe depending on how much I send or the actual size of the transaction.

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