bitcoin transactions - Slow OR Fast - page 4.

Babayega31

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Quote from: agamasrori on January 09, 2017, 09:36:57 PM

Quote from: Viakor on January 09, 2017, 04:41:57 PM

Most of the times they go fast due to the fact that its easy to send them and I use a standard fee so they are arriving pretty fast!

Yes I agree, we can send our money with low fee. Although we have to wait atleast 10 minute to complete the transaction but I am fine with that. Atleast I do not have to do difficult prosedur to send my money such as when I transfer my money using paypal or bank transfer.

Bitcoin transaction is really fast and hassle free as my own experience transacting using my online wallet i never encounter more than 5 mins processing and it amazed me a lot. That time I am sending money to my friend which owe an amount of btc from me in just less than a minute the amount is already sent and confimed.

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Quote from: Viakor on January 09, 2017, 04:41:57 PM

Most of the times they go fast due to the fact that its easy to send them and I use a standard fee so they are arriving pretty fast!

We can send our money with low fee. Although we have to wait atleast 10 minute to complete the transaction but I am fine with that. Atleast I do not have to do difficult prosedur to send my money such as when I transfer my money using paypal or bank transfer.

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Most of the times they go fast due to the fact that its easy to send them and I use a standard fee so they are arriving pretty fast!

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Quote from: 1Referee on January 09, 2017, 06:41:46 AM

Quote from: Lauda on January 09, 2017, 06:32:14 AM

I disagree unless you're talking about 'fiat' as in cash only. Compare the speed of SEPA transactions, international bank transfers (et. al.) to Bitcoin transfers, and you will see how superior it truly is.

I was pointing at doing daily shoppings in physical stores. In that regard, fiat through cash, or fiat through payment via NFC with phone or bank card are superior. Benefits are that everything is instant, no fees involved, people enjoy insured payments, etc. If you look at Bitcoin when it comes to transferring money from one point to another, then yes, it's surely superior to what fiat related infrastructures can offer.

But nowadays if you look at the shops you will find that even in third world countries people like to use digital system of payment (for example bank cards) even in local shops which have ATM for the reason of security and as these cards are from banks so they have a good fees. In that case if people know about bitcoin then they will adopt it for their shops because bitcoin is a digital currency with digital way of payment and do not involve any third party and is available with lowest fees.

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Quote from: virusasog on January 09, 2017, 10:21:48 AM

Quote from: millgates on January 09, 2017, 10:14:07 AM

Bitcoin transaction is fast, just compare it with banks money transfer that really difficult and high fee. Also bitcoin transaction is the most practicaly that I ever know.

I do not know why you comparing the bitcoins with the banks. If you have faster bitcoin transaction means simply make high fees on that transaction. That would move faster. Personally I would suggest you use the minimum amount as fees. Maximum 20 to 40 minutes would be transaction time.q

20 to 40 minutes of transaction confirmation is not an ideal for offline transaction such as buying items in groceries, etc. Just imagine how long will the lane gets when every person have to wait that long in their transaction. This is the main reason why merchant are hesitant to accept Bitcoin in their offline shop.

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Quote from: Bestwishes745 on January 09, 2017, 04:05:39 PM

Quote from: sadiq basha on January 09, 2017, 04:43:50 AM

Bitcoin transactions are normal but the time taken for confirmation message of that transaction is more. It has to be solved otherwise buying goods in shops using bitcoins would remain only as a dream.

I think it currently do not have any issue for the shops as some of the companies accept bitcoin with zero confirmation but if a problem of zero confirmation started then people will want for 1 confirmation. The developers have to work for the purpose that they device a tool for bitcoin technology that first confirmation is completed as soon as possible without any delay.

It's not merchants but the payment processors such as BitPay that make up the rules of how they accept and rank incoming transactions. In case of a low amount valued at around ~$20 then with a proper fee (according to current network situation), then it will get accepted instantly without the need to wait for confirmations to come through. For online payments it's not really a big deal to wait for that confirmation, but when you're standing infront of the checkout desk in a store, then it's completely different.

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Quote from: sadiq basha on January 09, 2017, 04:43:50 AM

Bitcoin transactions are normal but the time taken for confirmation message of that transaction is more. It has to be solved otherwise buying goods in shops using bitcoins would remain only as a dream.

I think it currently do not have any issue for the shops as some of the companies accept bitcoin with zero confirmation but if a problem of zero confirmation started then people will want for 1 confirmation. The developers have to work for the purpose that they device a tool for bitcoin technology that first confirmation is completed as soon as possible without any delay.

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Quote from: pinoycash on January 09, 2017, 04:45:43 AM

Most of my transaction got confirmation within 15 mins upto 1 hour after sending, i hardly experience waiting more than 1 hour for a transactions to confirm, im using coinpayments and coins.ph as wallet and works fast

some time it really take a little time to conform but when the traffic increases then the conformation take a lot of tie some time it take hours to complete one conformation. i think this process must to be make more fast.

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Quote from: sadiq basha on January 09, 2017, 04:43:50 AM

Bitcoin transactions are normal but the time taken for confirmation message of that transaction is more. It has to be solved otherwise buying goods in shops using bitcoins would remain only as a dream.

I dont see why you saying make any shop with bitcoin will remain a dream, you know you can get a debit card use your bitcoin balance to make the payments, i dont know where those card will be accepted, but i do remember to someone went into market and pay with his card of bitcoin. I do understand you do wanna to pay directly with your phone, get the code and transfer the bitcoins, but those will require extra time, and at the moment the confirmations might be an issue since the money can be double spent.

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Quote from: millgates on January 09, 2017, 10:14:07 AM

Bitcoin transaction is fast, just compare it with banks money transfer that really difficult and high fee. Also bitcoin transaction is the most practicaly that I ever know.

I do not know why you comparing the bitcoins with the banks. If you have faster bitcoin transaction means simply make high fees on that transaction. That would move faster. Personally I would suggest you use the minimum amount as fees. Maximum 20 to 40 minutes would be transaction time.q

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Bitcoin transaction is fast, just compare it with banks money transfer that really difficult and high fee. Also bitcoin transaction is the most practicaly that I ever know.

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Quote from: Tanic on January 09, 2017, 06:53:46 AM

I thought if you work for YoBit campaign you use that site for your transactions

I use YoBit and there all operations are fast. The maximym that I was waiting is like 30 mins when my friend transferred to me like 0,5 BTC. With little ammounts everything happen for a minute.

Yeah you only sent that amount not wrong if the transactions confirmation is around 30 minutes. Because the amount of bitcoin you send have the impact to how long the confirmation .

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Quote from: Tanic on January 09, 2017, 06:53:46 AM

Quote from: pinoycash on January 09, 2017, 04:45:43 AM

Most of my transaction got confirmation within 15 mins upto 1 hour after sending, i hardly experience waiting more than 1 hour for a transactions to confirm, im using coinpayments and coins.ph as wallet and works fast

I thought if you work for YoBit campaign you use that site for your transactions

I use YoBit and there all operations are fast. The maximym that I was waiting is like 30 mins when my friend transferred to me like 0,5 BTC. With little ammounts everything happen for a minute.

Yobit is a trading cryptocurrency site. I have no experience with Yobit but maybe you are talking about direct sharing of Bitcoin. The thread is talking about Wallet to wallet transactions which is usually slower. Right now my fastest was 1 hour. But it does not concern me as I don't spend it after all. It can be considered slow for people who have businesses.

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Quote from: pinoycash on January 09, 2017, 04:45:43 AM

Most of my transaction got confirmation within 15 mins upto 1 hour after sending, i hardly experience waiting more than 1 hour for a transactions to confirm, im using coinpayments and coins.ph as wallet and works fast

I thought if you work for YoBit campaign you use that site for your transactions

I use YoBit and there all operations are fast. The maximym that I was waiting is like 30 mins when my friend transferred to me like 0,5 BTC. With little ammounts everything happen for a minute.

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Quote from: Lauda on January 09, 2017, 06:32:14 AM

I disagree unless you're talking about 'fiat' as in cash only. Compare the speed of SEPA transactions, international bank transfers (et. al.) to Bitcoin transfers, and you will see how superior it truly is.

I was pointing at doing daily shoppings in physical stores. In that regard, fiat through cash, or fiat through payment via NFC with phone or bank card are superior. Benefits are that everything is instant, no fees involved, people enjoy insured payments, etc. If you look at Bitcoin when it comes to transferring money from one point to another, then yes, it's surely superior to what fiat related infrastructures can offer.

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Terminated.

Quote from: danherbias07 on January 09, 2017, 03:20:33 AM

Yeah with a lot of transaction going on it cannot be handled. Same with computers which if you happened so many application it slows down.

Analogy is flawed, stop posting nonsense.

Quote from: danherbias07 on January 09, 2017, 03:20:33 AM

Are those who confirm this transactions can be enlarged? It is the miners right?

Read this: English Grammar for Dummies.

Quote from: 1Referee on January 09, 2017, 04:56:44 AM

That being said, Bitcoin is not the ultimate currency tool that you can use for your daily shopping needs. Just keep using fiat as that offers a far better/faster payment experience. Bitcoin usage nowadays has to come from people looking to use Bitcoin as store of value, or as an investment tool.

I disagree unless you're talking about 'fiat' as in cash only. Compare the speed of SEPA transactions, international bank transfers (et. al.) to Bitcoin transfers, and you will see how superior it truly is.

Quote from: Mr. Big on January 09, 2017, 06:23:31 AM

Just to update you guys, after five hours, I now see one confirmation in my tx...It's too long, I think there is something that makes the confirmation too long, maybe there's really so many transactions, I don't know, I am not sure since I am not expert at this but, is this a sign that we need a much bigger transaction fee so it will be confirmed fast?

It's quite simple: Your included fee rate in satoshis/byte is under the recommended. You can see the required information here. You don't need to be any kind of tech expert, you just need to use your brain (that is for those that have one).

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Quote from: danherbias07 on January 09, 2017, 03:20:33 AM

Quote from: ged00u on January 09, 2017, 03:16:24 AM

Quote from: Mr. Big on January 09, 2017, 02:45:03 AM

I could say that it gets slower and slower, The other day, it took me few hours to receive my payment, and it is not like that before, it's taking too long now... Today, I send at around 2:00 PM Philippines time, and until now, it is still unconfirmed in the blockchain, I pay .0005 for the transaction fee and it is almost the same as paying small amount for it...

But it's okay, I'll just wait for it patiently, since I can't do anything to make it faster...

can not agree more. Bitcoin transaction is getting slower and slower over every year. I think the main reason is because the number of people using bitcoin increases which raises the number of transactions. This process makes the miners can not confirm all transactions at the time. I do not know what will happen if everyone on this planet uses Bitcoin. The transactions may be slower than ever.

Yeah with a lot of transaction going on it cannot be handled. Same with computers which if you happened so many application it slows down. Are those who confirm this transactions can be enlarged? It is the miners right?

Just to update you guys, after five hours, I now see one confirmation in my tx...It's too long, I think there is something that makes the confirmation too long, maybe there's really so many transactions, I don't know, I am not sure since I am not expert at this but, is this a sign that we need a much bigger transaction fee so it will be confirmed fast?

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Quote from: sadiq basha on January 09, 2017, 04:43:50 AM

Bitcoin transactions are normal but the time taken for confirmation message of that transaction is more. It has to be solved otherwise buying goods in shops using bitcoins would remain only as a dream.

It won't be solved as in block times getting lowered. In some cases your transation will also get accepted without any fees, but that's mostly only the case when you purchase digital goods that can be withdrawn by the merchant in question. That being said, Bitcoin is not the ultimate currency tool that you can use for your daily shopping needs. Just keep using fiat as that offers a far better/faster payment experience. Bitcoin usage nowadays has to come from people looking to use Bitcoin as store of value, or as an investment tool.

pinoycash

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Most of my transaction got confirmation within 15 mins upto 1 hour after sending, i hardly experience waiting more than 1 hour for a transactions to confirm, im using coinpayments and coins.ph as wallet and works fast

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Bitcoin transactions are normal but the time taken for confirmation message of that transaction is more. It has to be solved otherwise buying goods in shops using bitcoins would remain only as a dream.

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