bitcoin transactions - Slow OR Fast - page 33.

virusasog

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Quote from: darklus123 on October 23, 2016, 12:48:16 PM

As expected that bitcoin process would really be a problem in shopping. That it is why a lot of experts are trying to build up new parties for processing options because as do other countries already did this then we surely can also make it.

Process the bitcoin for a payment means you just needs to add the high fees to get transaction completed very fast. So fees only specifies the transaction as fast or slow. So always define your urgency and pay the fees for your transaction.

darklus123

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As expected that bitcoin process would really be a problem in shopping. That it is why a lot of experts are trying to build up new parties for processing options because as do other countries already did this then we surely can also make it.

Yerm

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the transaction speed highely depends on the fee you include with the tx. its not fair to say "bitcoin transactions" are slow in general if you include a really tiny fee.

OrangeII

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now I think bitcoin transaction capability is reduced. in this case the bitcoin transaction to be slower than before, whether it was at the time of shipment or at the time of confirmation. I think bitcoin transactions in the previous year still faster. I think this was due to the increasingly popular bitcoin

choppork

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There isn't that much of a problem with bitcoin transactions at normal times. It only takes a minute or two before you can receive or send bitcoins. It's actually the fastest one that we can use right now. Using bank services and the money remittance is far more slower because you have to travel first before you can send or receive money. Paypal might be good as well but it's very likely for you to get scammed when you use Paypal.

Jeremycoin

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Quote from: ObscureBean on September 16, 2016, 04:10:29 AM

Quote from: hollandvan on September 16, 2016, 03:50:44 AM

Quote from: serjent05 on September 15, 2016, 11:08:40 AM

Quote from: PaulPogba8 on September 15, 2016, 10:53:54 AM

It is painfully slow, 50-60 minutes no block situation is usually happening, i prefer 1 min block altcoins

so true though the transaction is instant, confirmation takes too long. Merchants are not relying only on the sent transaction but it needs to be confirmed to close the transaction. it is very annoying to get the 1st confirmation because it really takes too long then the merchants need at least 2 confirmation making it double the headache. This should be addressed and solved or bitcoin will be forgotten and replace by much faster altcoin someday.

Yep, 1 confirmation takes long, if they adopt 0 confirmation payment, there will be double spend attack and fork issues.

That right there is one instance where having an account with a trusted online wallet is better than keeping your Bitcoins in a local wallet. If your Bitcoin are in a trusted online wallet, when you make a payment, the wallet company can check your account and lock down the payment amount, it can then instantly confirm with the processor that the Bitcoin is definitely on its way. So no need to wait for confirmations at all, it's a 0 confirmation payment without the risk of double spend attack. The purchases that I make from my Coinbase account through BitPay are all instantaneous, 0 confirmation payments

This is actually a good idea, but I'm not sure that everyone would be willing to use Online Wallet because as we know some people don't agree with the way we use a Bitcoin wallet with having control of the private key.
And anyway this method will break the anonymity of Bitcoin, even tho using Bitcoin in real life itself has endanger our privacy.

lol3c

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If you want bitcoin transactions to be faster then you must do something to increase the number of bitcoin users and then bitcoin will be more valuable. As a result, more local shops would start accepting bitcoin and maybe this problem would be solve.

Siyas

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Many confirm the same. I am waiting to experience it. Will probably confirm you after i make few transactions. Almost all give positive feedback on the transactions. Fees are not charges i suppose. Right? No tax, well protected and secured. Good to be part of this community.

teilwalL05

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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.

ObscureBean

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Quote from: hollandvan on September 16, 2016, 03:50:44 AM

Quote from: serjent05 on September 15, 2016, 11:08:40 AM

Quote from: PaulPogba8 on September 15, 2016, 10:53:54 AM

It is painfully slow, 50-60 minutes no block situation is usually happening, i prefer 1 min block altcoins

so true though the transaction is instant, confirmation takes too long. Merchants are not relying only on the sent transaction but it needs to be confirmed to close the transaction. it is very annoying to get the 1st confirmation because it really takes too long then the merchants need at least 2 confirmation making it double the headache. This should be addressed and solved or bitcoin will be forgotten and replace by much faster altcoin someday.

Yep, 1 confirmation takes long, if they adopt 0 confirmation payment, there will be double spend attack and fork issues.

That right there is one instance where having an account with a trusted online wallet is better than keeping your Bitcoins in a local wallet. If your Bitcoin are in a trusted online wallet, when you make a payment, the wallet company can check your account and lock down the payment amount, it can then instantly confirm with the processor that the Bitcoin is definitely on its way. So no need to wait for confirmations at all, it's a 0 confirmation payment without the risk of double spend attack. The purchases that I make from my Coinbase account through BitPay are all instantaneous, 0 confirmation payments

1Referee

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Quote from: Newcoins2020 on September 16, 2016, 03:37:06 AM

Quote from: fireball4 on July 31, 2016, 08:32:23 AM

for me the transactions are really fast, they are instant and i usually dont need to wait if the website does not ask for the confirmations tu use bitcoins

For me transactions are also really fast but sometimes when depositing money into casinos they go really slow and can take up to 30minutes even which I think is slow for bitcoin since my bank is even faster. But this could be the fault of the casino though which I can understand. But overall bitcoin transactions have been very fast for me usually within seconds.

There could be plenty of reasons of why your transaction takes longer to post. To get 1 confirmation you need to make sure you have added an appropriate fee to make pools include your transaction in their block. If you add a fee below 0.0001BTC, then certain pools might actually ignore your transaction for a while, which makes that you need to wait much longer to get your transaction to confirm. Either way, confirmations are needed for services to disallow people to potentially double spend.

Casino's can be tricked and cheated at when they don't accept at least one 1 confirmation. I remember that Primedice at some point didn't require you to have 1 confirmation in order to play. Only when you needed to withdraw your funds you would need to wait till you have 1 confirmation. This made it so easy for people to cheat and potentially walk out with plenty of coins.

hollandvan

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Quote from: serjent05 on September 15, 2016, 11:08:40 AM

Quote from: PaulPogba8 on September 15, 2016, 10:53:54 AM

It is painfully slow, 50-60 minutes no block situation is usually happening, i prefer 1 min block altcoins

so true though the transaction is instant, confirmation takes too long. Merchants are not relying only on the sent transaction but it needs to be confirmed to close the transaction. it is very annoying to get the 1st confirmation because it really takes too long then the merchants need at least 2 confirmation making it double the headache. This should be addressed and solved or bitcoin will be forgotten and replace by much faster altcoin someday.

Yep, 1 confirmation takes long, if they adopt 0 confirmation payment, there will be double spend attack and fork issues.

Newcoins2020

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Quote from: fireball4 on July 31, 2016, 08:32:23 AM

for me the transactions are really fast, they are instant and i usually dont need to wait if the website does not ask for the confirmations tu use bitcoins

For me transactions are also really fast but sometimes when depositing money into casinos they go really slow and can take up to 30minutes even which I think is slow for bitcoin since my bank is even faster. But this could be the fault of the casino though which I can understand. But overall bitcoin transactions have been very fast for me usually within seconds.

Antonio G.

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Quote from: bitbunnny on September 15, 2016, 10:06:42 AM

Quote from: Antonio G. on September 15, 2016, 09:13:45 AM

Quote from: Red-Apple on September 15, 2016, 07:19:42 AM

Quote from: machinek20 on September 14, 2016, 08:43:06 PM

for me bitcoin is slow, some of my transaction can take up until 3 hours, and as i know there are no way to increase the speed unless there are big development from bitcoin, but some of the expert claims that bitcoin debit card will be able to increase the speed

with your high rank you should know this already that bitcoin transactions are super fast and network propagates the transactions at highest of speeds.

what you are talking about is confirmation times. and there is a simple solution for that. "add standard fee" it is as simple as that and if you add the correct amount of fee based on the size of your transaction then you can see confirmation in less than 10 minutes and worst case scenario which is rare will be 1 hour.

But what should I do if I want to buy groceries in the supermarket? Should I wander inside the supermarket within an hour? It's a little bit inconvenient.

Of course this could be very inconvenient, both for you and thew store. But that is why Bitcoin debit card exists. Sometimes confirmation could be slow but with Bitcoin debit card transaction is fast and esay like with any other debit or credit card and you can use it everywhere you want. You should try it.

Oh, thats great if such cards work so fast, I definitely should try to use it, thanks Wink

marleybobthedog

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In my opinion bitcoin transaction is not at all fast, it is fastest. I am very happy to have such a system which can make our transaction with ease and too. With bank transfer world wide it really takes very long time and in this world of busy life that is too boring.

jak3

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actully bitcoin transactions are never slow they are always instant its just the confermation part takes a lot of time and pfcourse it depends on the fees to if a shop do not care much about the confirmations then they will not havw any problem of accepting bitcoins

serjent05

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Quote from: PaulPogba8 on September 15, 2016, 10:53:54 AM

It is painfully slow, 50-60 minutes no block situation is usually happening, i prefer 1 min block altcoins

so true though the transaction is instant, confirmation takes too long. Merchants are not relying only on the sent transaction but it needs to be confirmed to close the transaction. it is very annoying to get the 1st confirmation because it really takes too long then the merchants need at least 2 confirmation making it double the headache. This should be addressed and solved or bitcoin will be forgotten and replace by much faster altcoin someday.

PaulPogba8

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It is painfully slow, 50-60 minutes no block situation is usually happening, i prefer 1 min block altcoins

Kotone

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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.

Ofcourse yes it is possible that bitcoin will be accepting in some selected local shops nor store , it can be easily for us who using bitcoin everyday so that we could need to go in the exchange website to sell our bitcoin and we can now use it in sometransaction if we are buying something like buying foods etc.

emberbekas

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Quote from: Antonio G. on September 15, 2016, 09:13:45 AM

But what should I do if I want to buy groceries in the supermarket? Should I wander inside the supermarket within an hour? It's a little bit inconvenient.

That's why only few offline stores uses bitcoin as alternative payment nowadays! The confirmation still become the big problem for them. I wish in the future this problem can be fixed and the use of bitcoin in the real life more widespread.

Topic: bitcoin transactions - Slow OR Fast - page 33. (Read 40467 times)