bitcoin transactions - Slow OR Fast - page 32.

NeuroticFish

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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.

Slow.
If you want to be sure of the transaction - and a proper store will always make sure it doesn't lose money - you need at least one confirmation.
On good days a confirmation takes some 20 minutes. On bad days, especially with the current spam attacks / clutter on the network, you need high fees just to make sure your transaction goes through within hours. The unlucky ones wait for days, just check the threads around.

So it's slow. And unless something is done, it will become even slower and more expensive.

thepo1m

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I think it is neither, it is okay for security reasons, I have never expereince low transactions with Bitcoin the way people always talk about it, because the transaction fee I always put is significant enough to push through the transaction on time. I think you should try to increase your transaction fee

Monumental

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Quote from: Andromaque on October 26, 2016, 06:47:51 AM

You don't need to wait that long. After 1 confirmation, you're good to go I think. And for recurrent customers, it's also possible after 0 confirmations too I think.

The problem is that the time to first confirmation is too long. It some times takes many hours to do.

Andromaque

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You don't need to wait that long. After 1 confirmation, you're good to go I think. And for recurrent customers, it's also possible after 0 confirmations too I think.

ekoice

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Only confirmation time is more when compared to transaction time of Bitcoins.Unless it is solved, traders will not be ready to accept Bitcoins.

Xenophoto

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The bitcoin transaction would actually depend on how much fee did you pay. The more fee it is, the more it will become prioritized. In normal times, it will take much less than 5 minutes but there are times when it takes hours before you can get your payment or the person you're having transaction with gets your payment.

Once you've sent your bitcoins without fees, all you can do is wait for it to get received. You didn't pay any fee so don't expect it to be a top priority just because you're ranting everywhere about how slow bitcoin transaction is.

Wapinter

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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.

The confirmation time might have gone up over the time but still bitcoin is faster than any other money tranfer methods.
With Bitcoin money moves fastest even internationally.Bank wire transfer are fast when you have to send money where that Bank operates but bitcoin has no such limitations

Mastsetad

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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.

That is actually right that if a store is willing to accept bitcoin as a payment method and they come to know about those long waiting confirmations they would probably think twice because no one would like their customers to face a problem like that, if someone buys something from there paying with bitcoins and the transaction takes hours, what would he do?

TastyChillySauce00

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Quote from: mirakal on October 25, 2016, 12:46:46 AM

It not stable for now, I have been waiting for my bitcoin for almost 4 hours and still it is unconfirmed in the blockchain, I hope this problem will not happen most of the time and although this happens I am quite positive that this is due to massive demand of bitcoin.

that's actually the real struggle here for bitcoin to become a currencies that getting used to shopping in an offline world,no one want to wait for a confirmation,even the merchants enable zero confirmation,then the merchants will have the risk of getting double spend transaction

wintermeasures

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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.

Yes Bro it is Possible And I Will Be Happy If it Really Happens Then I Don't Want to Exchange My Bitcoins Into Fiat I Can Pay With My Bitcoins Earnings If I Want to Pay For My Shopping.....
But it Not a Big Problem that Someone Has to Wait For the Funds to Be Confirmed.....

mirakal

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It not stable for now, I have been waiting for my bitcoin for almost 4 hours and still it is unconfirmed in the blockchain, I hope this problem will not happen most of the time and although this happens I am quite positive that this is due to massive demand of bitcoin.

Tanic

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The only transaction I have made with bitcoin is transferring my coins from one wallet to another. And yes, in some cases I should wait pretty long time to money appear on the wallet where I transferred and that long waiting made me worry a little. But when I cash out my bitcoins on my card this transactions always happen immediately. So if bitcoin be popular payment in stores I think they created something to people don't wait at all.

genos

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Quote from: ?? on ??

The network is really congested lately. Again right now 14000+ unconfirmed transactions:
https://blockchain.info/unconfirmed-transactions

It's becoming really really annoying to wait for these BTC transactions to get confirmed god knows when.

Slow or fast bitcoin transaction is depend on the traffic, if there are so many people mske a transaction in the same time it will make transaction confirmation slower. You right it just anoying. I think bitcoin transaction is still slow, I hope the wallet developer can help to fix this problem. I ever wait until 24 hour just to complet one transaction.

shinratensei_

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Quote from: knightkon on October 24, 2016, 04:29:04 PM

I do not think that transaction speeds are the issue here. Confirmations may be a small issue for they are slow, but once the transaction is in due, it seems that the seller will receive their funds once it is confirmed. It is hard to see how someone will try to get by that, but I am sure they will try!!

That's right, all of the transaction in the world is same. and correct, the confirmation in bitcoin are been an issue in bitcoin and that's the main reason for the transaction of bitcoin. I guess this is will get resolved by the lighting project and the transaction of bitcoin will be fastest in the future.

knightkon

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I do not think that transaction speeds are the issue here. Confirmations may be a small issue for they are slow, but once the transaction is in due, it seems that the seller will receive their funds once it is confirmed. It is hard to see how someone will try to get by that, but I am sure they will try!!

abel1337

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For me bitcoin transactions now is a bit faster than before. The tramsaction will appear in blockchain a few seconds after you withdrawn your bitcoins from a site and take a couple of minutes confirming it. Few months ago bitcoin confirmation has a problem. My transaction almost take 12 hours for 2 confirmation inly thats why for me bitcoin transactions now is a bit faster than before

Doamader

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This issue has a solution thats the debit card of bitcoin, that will make the transaction to be done instant, if we do wait to bitcoin became instant confirmations we will die before that happens for sure, the most of the bitcoins are being used online soo i do believe each one of us can wait those transactions get confirmed, sure would be great if were faster.

kryptqnick

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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.

Well, transactions don't take that long. Judging from my experience I can say that it takes about a minute. Yes, it is still too long for customers to wait but isn't it possible to make some receits shops will give as a guarantee? I think we could figure out something. I would be happy if it was possible to use bitcoin in supermarkets.

ekoice

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Yes confirmation time for Bitcoin transactions is slow. Its also a major issue for merchants not willing to accept bitcoin.It has to be solved by any means.

barbara44

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Quote from: teilwalL05 on September 16, 2016, 08:41:06 AM

For me it is really fast and accurate when I wanted to withdraw my money through my bitcoin wallet I can easily withdraw it to my bank partner and use it if I want it. Bitcoin transaction for me is really fast.

Of course, it is fast and accurate, consider if you were to make the payment through banks, that may take you almost hours if not days if the amount you are sending is very large. Whether bitcoin transaction takes fifteen or thirty minutes it is still very fast when compared with payment through fiats.

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