bitcoin transactions - Slow OR Fast - page 36.

serjent05

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Quote from: avikz on July 31, 2016, 08:04:31 AM

The transaction speed depends on the amount and the network fees paid for that...If the amount is high and the fees are less, it may take up to 30 minutes.

But I have exchanged a very small amount from an exchanger which is less than $20 and the transaction was instant. Did not take any time to get confirmed. So I guess the appropriate fees should be paid to the network.

I think it is the confirmation speed not the transaction speed, Transaction is instant as it is been told again and again. The one that is slacking is the confirmation speed, this depends on the priority which is dependent on the amount of transaction fee you input in your transaction. Transaction is fast but confirmation is so so

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Quote from: ezehy2014 on July 31, 2016, 09:31:45 AM

Through the use of the bitcoin debit card now, I think people will want to use it in their local stores base on how secured it is.

i guess debit cards should be really fast, to be honest i remember planning to buy a card though, i hope that it will be instant for me in the future

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Quote from: ezehy2014 on July 31, 2016, 09:31:45 AM

Through the use of the bitcoin debit card now, I think people will want to use it in their local stores base on how secured it is.

It must be secured, and using it will be more instant in local stores and the transaction are almost considerably good and fees are low so it is good to use it rather credit cards and all !

xdrpx

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I've had issues with a couple of large transactions where there was a delay even though I had paid the necessary minimum transaction fees. I've had two such transactions that weren't confirmed for about 4-5 hours. But those are rare situations, and most of my other transactions went on normal, and took about 10-20 mins to get 6-7 confirmations. I feel it'd be fine to accept Bitcoin transactions in stores, if used through an off-chain payment handler.

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Through the use of the bitcoin debit card now, I think people will want to use it in their local stores base on how secured it is.

romero121

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Transaction at times though good transaction fee has been paid, due to network down the transaction gets bit delay than the normal transaction time for the one with the similar transaction fee.

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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.

Possible.. in BitPay payment gateway you don't need wait the confirmation. As evidence u can try buy 1 games from steam with Bitcoin.

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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

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Quote from: avikz on July 31, 2016, 08:04:31 AM

The transaction speed depends on the amount and the network fees paid for that...If the amount is high and the fees are less, it may take up to 30 minutes.

But I have exchanged a very small amount from an exchanger which is less than $20 and the transaction was instant. Did not take any time to get confirmed. So I guess the appropriate fees should be paid to the network.

bitcoin transaction times are fast, what you are thinking is the confirmation time. and since OP is asking about merchants using bitcoin in his question ["will be accepted in local stores, shops etc"] in this case the transaction time is the only important thing and that is fast enough for being accepted by these vendors.

avikz

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The transaction speed depends on the amount and the network fees paid for that...If the amount is high and the fees are less, it may take up to 30 minutes.

But I have exchanged a very small amount from an exchanger which is less than $20 and the transaction was instant. Did not take any time to get confirmed. So I guess the appropriate fees should be paid to the network.

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Quote from: Sniper44 on July 31, 2016, 04:12:52 AM

Quote from: Imoote on July 31, 2016, 04:10:48 AM

Maybe if bitcoin used for direct payments will require considerable time. Due to delivery takes at least 5 minutes. If pending also be more than that. Maybe it will make people wait to successfully send and I think it's still slow and needs to be updated again so be quick.

you have to start reading more of the topics that you give reply to.
it has already been discussed that bitcoin transactions are super fast and only the confirmation is slow which is not a big deal at all if you think about the chances of fraud.

Chances of fraud? Not gonna happen, bitcoin is very transparent in terms of transaction online because we have a public ledger that we can view in every transaction and for the transacting party that would ease their mind as there is an assurance they can see in the blockchain.

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Quote from: Imoote on July 31, 2016, 04:10:48 AM

Maybe if bitcoin used for direct payments will require considerable time. Due to delivery takes at least 5 minutes. If pending also be more than that. Maybe it will make people wait to successfully send and I think it's still slow and needs to be updated again so be quick.

you have to start reading more of the topics that you give reply to.
it has already been discussed that bitcoin transactions are super fast and only the confirmation is slow which is not a big deal at all if you think about the chances of fraud.

Imoote

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Maybe if bitcoin used for direct payments will require considerable time. Due to delivery takes at least 5 minutes. If pending also be more than that. Maybe it will make people wait to successfully send and I think it's still slow and needs to be updated again so be quick.

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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 think that bitcoin transactions are quite fast, so that is not a problem of bitcoins for sure, and when i paid with bitcoins in real life store, my payment was confrimed in 2 minutes

severaldetails

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It always depends waht you understand by fast.
My last transaction took more than one hour to be confirmed. But I don't need it any quicker than that. So it was fast to me.
Of course, my last paypal transaction only took a few seconds. Compared to that, the bitcoin transaction could do quicker.
On the othere hand, a bank transaction takes a day. Much slower than bitcoin.
Everything a point of view.

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Quote from: BitcoinChicken on July 30, 2016, 02:13:15 PM

Bitcoin transactiions are bery fast for me and i am happ very with that crypticurrency it is fatser transaction with bitcoin then with bank account to account.

long as I use bitcoin, the transaction is always fast, but there are times when the confirmation was long ago, but it was very rare. Well, I guess it was a little hamper our activities as a businessman to conduct transactions quickly, but it was all fine as long as it runs smoothly

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Quote from: ASHLIUSZ on July 31, 2016, 01:03:41 AM

Quote from: Superbitzz on July 30, 2016, 04:05:13 PM

in different time the transaction of bitcoin have different reaction. some time the transaction of bitcoin take a lot of time and we wait for the confirmation, while in some time the bitcoin transaction done in few seconds so there no fixed time for bitcoin transaction, but it is a fact that early or later the transaction is completing in any case.

Bitcoin users were up in arms about their transactions taking a long time to be processed by the network, the reason for the frustration appears to be much more unsettling and banal. Sometimes it will be fast.

If you want it to be fast then you will not need to wait for more confirmations to effect the transfer when you are transacting with someone in the internet, but for more merchant of exchange they will need to wait for at least 3 confirmation to credit your payment but for me base on experience less than 30 minutes is already fast.

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Quote from: Superbitzz on July 30, 2016, 04:05:13 PM

in different time the transaction of bitcoin have different reaction. some time the transaction of bitcoin take a lot of time and we wait for the confirmation, while in some time the bitcoin transaction done in few seconds so there no fixed time for bitcoin transaction, but it is a fact that early or later the transaction is completing in any case.

Bitcoin users were up in arms about their transactions taking a long time to be processed by the network, the reason for the frustration appears to be much more unsettling and banal. Sometimes it will be fast.

Superbitzz

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in different time the transaction of bitcoin have different reaction. some time the transaction of bitcoin take a lot of time and we wait for the confirmation, while in some time the bitcoin transaction done in few seconds so there no fixed time for bitcoin transaction, but it is a fact that early or later the transaction is completing in any case.

BitcoinChicken

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Bitcoin transactiions are bery fast for me and i am happ very with that crypticurrency it is fatser transaction with bitcoin then with bank account to account.

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