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Topic: bitcoin transactions - Slow OR Fast - page 34. (Read 40467 times)

legendary
Activity: 2912
Merit: 1068
WOLF.BET - Provably Fair Crypto Casino
September 15, 2016, 10:06:42 AM
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. 
member
Activity: 84
Merit: 10
September 15, 2016, 09:13:45 AM
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.
hero member
Activity: 1470
Merit: 655
September 15, 2016, 07:19:42 AM
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.
hero member
Activity: 2996
Merit: 536
Leading Crypto Sports Betting & Casino Platform
September 15, 2016, 04:51:06 AM
Bitcoin transactions are quite fast these days as the cryptocurrency gets widely accepted for example topping up your mobile is close to instant as one does not need to wait for a confirmation
Bitcoin transactions are not fast, and I don't know what you mean my mobile topping up being related to this because it is relatively apparent that a transaction time =/= how quickly you can see funds in your phone given from a bank.

Bitcoin transactions will be fast once there is a decentralized lightning network, and that is likely still a ways away.
Is bitcoin transaction depend on internet connection?
The transaction is not depending on your connection but for you know as the transaction is always instant is not too fast or slowly, but the problem it only always needs a confirmation before for making the transaction is like getting a legalism.
legendary
Activity: 840
Merit: 1000
September 15, 2016, 04:30:29 AM
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

You can increase the speed of transactions if you add higher fees, and if you do that then it won't take more then 20 minutes for your transaction to get confirmed.
legendary
Activity: 1232
Merit: 1029
September 15, 2016, 04:26:06 AM
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
Usually my transactions are getting included into next two or three blocks itself.

When I am dealing with a trusted person my bitcoin transactions are almost instant yes it is super fast. Once they confirm they have sent money and I receive them instantly, I do check for the fees they have included. That's all.

When you are transacting with new person or stranger, you need to worry about confirmation and its time. This type of situation only I feel bitcoin is not instant but not slow.
hero member
Activity: 840
Merit: 501
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
legendary
Activity: 2940
Merit: 1083
September 14, 2016, 07:11:02 PM
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.

bitcoin transaction time =/= transaction confirmation time.

transactions are super fast and it only takes a couple of seconds to reach the merchant's wallet. but the confirmation time is long and it can be from seconds to 10 minutes on average or 1 hour in the worst case scenario.

and shops can accept this based on the fact that fraud (which would be to double spend) will not happen that often and the risk would be even lower than accepting credit card as payment.

But it wont be a problem right? There is this open and closed parenthesis that is saying you are about to receive this kind of money anf it cannot be cancelled anymore so it could rely on that. The merchants will just be the one confirming it to the customer that they have received it. Through text or any means of communication.
newbie
Activity: 56
Merit: 0
September 14, 2016, 05:34:50 PM
Bitcoin transactions are quite fast these days as the cryptocurrency gets widely accepted for example topping up your mobile is close to instant as one does not need to wait for a confirmation
Bitcoin transactions are not fast, and I don't know what you mean my mobile topping up being related to this because it is relatively apparent that a transaction time =/= how quickly you can see funds in your phone given from a bank.

Bitcoin transactions will be fast once there is a decentralized lightning network, and that is likely still a ways away.
Is bitcoin transaction depend on internet connection?
legendary
Activity: 1218
Merit: 1007
September 14, 2016, 05:31:18 PM
Bitcoin transactions are quite fast these days as the cryptocurrency gets widely accepted for example topping up your mobile is close to instant as one does not need to wait for a confirmation
Bitcoin transactions are not fast, and I don't know what you mean my mobile topping up being related to this because it is relatively apparent that a transaction time =/= how quickly you can see funds in your phone given from a bank.

Bitcoin transactions will be fast once there is a decentralized lightning network, and that is likely still a ways away.
legendary
Activity: 1232
Merit: 1091
September 14, 2016, 05:22:46 PM
In my opinion, bitcoin transaction it could be fast if theres only one confirmation.  It could be good if theres a lot of locals store will accept bitcoin as payment method.   Im hoping and waiting that it possible to be happen after 2years from now.

even to get 1 confirmation can sometimes take a long time. still faster than a transaction using a credit card or ATM card. sending bitcoin is currently the longer I think. I even sometimes annoyed, when selling to the exchanger and it can wait up to 10 minutes more to get 1 confirmation.

Confirmations don't only depend on the block times. You as person has a lot influence in the way of adding appropriate fees etc. Pools nowadays are very picky and tend to ignore certain transactions for a while. Especially those that have a very high-byte low-fee ratio. That being said, transactions with Bitcoin are instant. So it makes it basically the fastest tool to send money from A to B no matter where in the world you are.
sr. member
Activity: 364
Merit: 250
September 14, 2016, 05:14:26 PM
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.
Faster Bitcoin transaction will happen atleast next 5 -10 years. there gonna be release 5 G and 6 G connection, that make everything we do with internet activitty is faster until tera bytes per second. Can it make bitcoin transaction faster?
legendary
Activity: 854
Merit: 1000
September 14, 2016, 04:54:59 PM
Bitcoin transactions are quite fast these days as the cryptocurrency gets widely accepted for example topping up your mobile is close to instant as one does not need to wait for a confirmation
It is entirely different thing.When you top up your mobile from sites that support mobile recharge,you first upload btc to your account in that site.When you ask for recharge,you get recharge instantly because that site already has your btc and they use fiat to recharge
hero member
Activity: 798
Merit: 500
September 14, 2016, 04:42:27 PM
i think if that really happen, shop will look for transaction instead of confirmation , because even with high fee doesn't guaranteed if confirmation will be faster

I think the transactions are irreversible so if a person will pay and the transaction will appear on the receiver address then they should not have to fear any more as once the sender click on the send button then there remains no any option to reverse that bitcoins.
full member
Activity: 162
Merit: 100
Reich mir die Hand
September 14, 2016, 01:33:31 PM
BTC transactions are not slow. The time requirement of a transaction's process could be influenced by the actual state of the blockchain, but usually it should not be a problem with a proper amount of fee. In the cases when the blockchain has much to process, it is not a problem because local stores would use BTC as an alternative next to fiat.
member
Activity: 112
Merit: 10
September 14, 2016, 01:15:09 PM
Bitcoin transactions are quite fast these days as the cryptocurrency gets widely accepted for example topping up your mobile is close to instant as one does not need to wait for a confirmation
legendary
Activity: 1960
Merit: 1026
September 14, 2016, 01:07:55 PM
In my opinion, bitcoin transaction it could be fast if theres only one confirmation.  It could be good if theres a lot of locals store will accept bitcoin as payment method.   Im hoping and waiting that it possible to be happen after 2years from now.

even to get 1 confirmation can sometimes take a long time. still faster than a transaction using a credit card or ATM card. sending bitcoin is currently the longer I think. I even sometimes annoyed, when selling to the exchanger and it can wait up to 10 minutes more to get 1 confirmation.
legendary
Activity: 1526
Merit: 1179
September 14, 2016, 12:53:51 PM
In my opinion, bitcoin transaction it could be fast if theres only one confirmation.  It could be good if theres a lot of locals store will accept bitcoin as payment method.   Im hoping and waiting that it possible to be happen after 2years from now.
I am quite sure you are talking about making deposits at exchanges that require your coins to have at least 3 confirmations in order to post?

That's done because of security reasons. Exchanges can definitely let 1 confirmation deposits post in your account, but why taking a risk when you can have the safety you want with 3 confirmations.

Remember, exchanges hold peoples coins, and thus need to make sure no one can cheat and steal coins.
full member
Activity: 224
Merit: 100
September 14, 2016, 12:20:15 PM
In my opinion, bitcoin transaction it could be fast if theres only one confirmation.  It could be good if theres a lot of locals store will accept bitcoin as payment method.   Im hoping and waiting that it possible to be happen after 2years from now.
sr. member
Activity: 434
Merit: 250
★Bitvest.io★ Play Plinko or Invest!
August 01, 2016, 02:46:04 AM
i sent my signature campaign money from bitvest tonight to bitvest to invest it and i did see the pending right away but it took like 30 minutes to fully
go through to the point where i could use it. Pretty slow
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