bitcoin transactions - Slow OR Fast - page 40.

dragunfly

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Quote from: Harsh32 on July 24, 2016, 01:04:00 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.

transactions aren't slow at all, if you pay normal fee, i usually pay like 7 cents fee and my transactions are usually very, very fast, less than 30 seconds

Maesters1-

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it has different result in different occasions. some time time transaction speed increase so much and within seconds the transaction is conformed but some time it take a lot of time may be hours to conform the transaction.

Monumental

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Quote from: X-ray on July 25, 2016, 08:05:08 AM

Quote from: romero121 on July 25, 2016, 08:01:11 AM

Bitcoin transactions were really fast, because within few seconds a primary confirmation in the form of unconfirmed state as a notification is got. At times the speed depends upon internet network too for its confirmation.

You can't consider unconfirmed transaction as a "transaction" because it's still not confirmed by the network and you don't know whether it could possibly rejected by the network or it will be succeed

That is right. It is too risky to accept an unconfirmed transaction if some amount of money is involved.

GreenBits

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Quote from: TastyChillySauce00 on July 25, 2016, 07:57:19 AM

Quote from: CraigWrightBTC on July 25, 2016, 07:52:54 AM

Quote from: Harsh32 on July 24, 2016, 01:04:00 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.

Of course yes, bitcoin can be accepted in local stores even if it is need much time until every local stores accept it. And The solution for low transaction is using high fees when costumers makes payment on local stores. It will save costumers time.

high fees won't affect that much compared to normal fees,still being included in the same block and need to wait till the block been solved,so it's not going to success,the only way is enabling 0 confirmation transaction or just wait it and hoping the transaction confirmed in few minutes not hours

But there is always inherent risk in accepting 0 confirmation transactions as proof of payment, there is always the possibility of double spend. But, I admit it would be hard to launch a double spend attack while checking out at a register.

serjent05

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Quote from: X-ray on July 25, 2016, 08:05:08 AM

Quote from: romero121 on July 25, 2016, 08:01:11 AM

Bitcoin transactions were really fast, because within few seconds a primary confirmation in the form of unconfirmed state as a notification is got. At times the speed depends upon internet network too for its confirmation.

You can't consider unconfirmed transaction as a "transaction" because it's still not confirmed by the network and you don't know whether it could possibly rejected by the network or it will be succeed

But still you called it a transasction. Transaction is transasction, either it is rejected or accepted. The confirmed one is called succesful transaction or accepted transaction , the unconfirmed one is called unconfirmed transaction and the rejected is called rejected transaction. See the point there?

Code:

trans·ac·tion
tranˈsakSH(ə)n,tranˈzakSH(ə)n/
noun
an instance of buying or selling something; a business deal.

synonyms:	deal, business deal, undertaking, arrangement, bargain, negotiation, agreement, settlement; proceedings
"property transactions"
the action of conducting business.

synonyms:	conduct, carrying out, negotiation, performance, execution
an exchange or interaction between people.
"intellectual transactions in the classroom"

X-ray

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Quote from: romero121 on July 25, 2016, 08:01:11 AM

Bitcoin transactions were really fast, because within few seconds a primary confirmation in the form of unconfirmed state as a notification is got. At times the speed depends upon internet network too for its confirmation.

You can't consider unconfirmed transaction as a "transaction" because it's still not confirmed by the network and you don't know whether it could possibly rejected by the network or it will be succeed

romero121

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Bitcoin transactions were really fast, because within few seconds a primary confirmation in the form of unconfirmed state as a notification is got. At times the speed depends upon internet network too for its confirmation.

TastyChillySauce00

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Quote from: CraigWrightBTC on July 25, 2016, 07:52:54 AM

Quote from: Harsh32 on July 24, 2016, 01:04:00 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.

Of course yes, bitcoin can be accepted in local stores even if it is need much time until every local stores accept it. And The solution for low transaction is using high fees when costumers makes payment on local stores. It will save costumers time.

high fees won't affect that much compared to normal fees,still being included in the same block and need to wait till the block been solved,so it's not going to success,the only way is enabling 0 confirmation transaction or just wait it and hoping the transaction confirmed in few minutes not hours

CraigWrightBTC

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Quote from: Harsh32 on July 24, 2016, 01:04:00 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.

Of course yes, bitcoin can be accepted in local stores even if it is need much time until every local stores accept it. And The solution for low transaction is using high fees when costumers makes payment on local stores. It will save costumers time.

TastyChillySauce00

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just make the merchant allowing 0 confirmation transaction,as the sender sending the current money in front of merchant and being monitored by the merchant himself,i think it's fine,just need to make sure if there's nothing suspicious activities on the sender's address and all funds are already confirmed

Jimbola3

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Quote from: diodio5 on July 25, 2016, 05:31:57 AM

Quote from: skyway1 on July 25, 2016, 02:29:45 AM

i do not think that bitcoin transaction is slow , bitcoin transaction is too much faster than other , i think bitcoin is just one in all that its transaction is very much faster .

lol I think compared to the western union payment method certainly bitcoin has transactions faster. but if compare with the same type on cryptocurrency. I think the transaction on cryptocurrency has a high speed. but will have a different time on the confirmation. but I think bitcoin slower than other cryptocurrency

yeah so it makes bitcoin more secure then others too and make more people to trust in it rather in other cryptocurrencies and waiting for 10 minutes that i can do to get better service Cheesy

!

xuan87

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this has become one of the biggest problem for local store, and even worse sometimes the transaction can take until 1 to 2 hours to successful, maybe paying like debit card is one of the answer however i dont really know the speed transaction when you are using bitcoin debit card because there are no store accepting bitcoin in my place

icecube45

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Yes perhaps on transactions directly in reality, bitcoin transaction takes a long time to require between 5-15 minutes. For some people they do not like to wait that long. If the system can be quickly updated and it would be better to deal directly only takes no more than 1 minute. But to buy online bitcoin very quickly as though waiting for a few minutes we did not wait and do not spend energy.

MinerHQ

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If we compare with any other bank transaction Bitcoin transaction is very fast. We will get confirmation message within a few minutes. But Bitcoin payment is bit slow because the customer has to wait until the shoppe owners confirm that their payment as been recived successfully. So this is a very long process. The main problem is the currency to Bitcoin calculation it will take huge time.

diodio5

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Quote from: skyway1 on July 25, 2016, 02:29:45 AM

i do not think that bitcoin transaction is slow , bitcoin transaction is too much faster than other , i think bitcoin is just one in all that its transaction is very much faster .

lol I think compared to the western union payment method certainly bitcoin has transactions faster. but if compare with the same type on cryptocurrency. I think the transaction on cryptocurrency has a high speed. but will have a different time on the confirmation. but I think bitcoin slower than other cryptocurrency

btvGainer

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Quote from: Harsh32 on July 24, 2016, 01:04:00 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.

Bitcoin is not slow if you compare it woth other payment methods.It only takes 10 minutes to get any transaction confirmed on blockchain and then btc is instantly available to sellers wallet

emberbekas

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Bitcoin confirmation will run slowly when prices rise dramatically. For example, couple weeks ago when bitcoin touched 800 usd, some of my transactions experiencing a relatively long delay, approximately 12 hours to get a confirmation. Bitcoin rose dramatically made people tend to move their bitcoins into the exchangers to convert to their local currencies. That's what makes the transaction so slow. Under normal conditions, the confirmation requires less than 10 minutes.

Overall, bitcoin transaction runs as expected!

BitcoinTeacher

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I think that for shops is better to add bitcoin.It looks for me that 0-60 minutes transaction is really good for bitcoin.It is better to add bitcoin then payment processor like paypal,skrill,payeer,neteller,payooner,okpay,advision and other because of lower fees and bitcoin is anonymously so it dont need any verification id to save them.

StarofBTC

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Quote from: croutonhexagon on July 25, 2016, 01:07:40 AM

Bitcoin transaction Confirmation always depends upon the Transaction Fees and on the Bitcoin Network and Now Many Merchants are accepting Bitcoin as a Payment Processor....

Some how fee effect the transaction yes. if you add very small transaction fee for a large amount of transaction the your transaction well surely get confirmed slowly and take some extra time.
I heard some peoples complaint that their transaction not getting confirm after more then 24 hours. that's could be the reason of the fee. and some time the mining blocks also make transaction slow.

skyway1

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i do not think that bitcoin transaction is slow , bitcoin transaction is too much faster than other , i think bitcoin is just one in all that its transaction is very much faster .

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