bitcoin transactions - Slow OR Fast - page 5.

danherbias07

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Quote from: ged00u on January 09, 2017, 04:16:24 AM

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

ged00u

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

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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...

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Quote from: GMPoison on January 08, 2017, 04:48:08 PM

Quote from: coinfast on January 08, 2017, 04:11:56 PM

If we compare with other bank transactions Bitcoin transactions are very fast, With in a few seconds you make a transaction, we will get a confirmation message.

No waiting days for transfers either, it's instant, how it should be.

Bitcoin is indeed instant but the problem is the confirmation. Without it, you can't do anything with it. Last months the queue with unconfirmed transactions grows way to big. I have seen 80k+ unconfirmed transactions. If you sent some bitcoin just before such queue with for that moment the right fee you are fucked up. I guess about the confirmation time they should increase the block size.

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Quote from: bitbob82 on January 08, 2017, 08:50:57 PM

Quote from: blackstone on January 04, 2017, 03:20:49 PM

Bitcoin transactions are pretty fast to my guess .not so much like card transactions .hope when its popilarity increase more then it transactions will faster than it is now.

i think it changes from time to time. when the traffic increase on the networking then the transaction fell down to a low level. while other time the transaction remain too fast.

It probably depends on the traffic in transactions network, when there are a lot of transactions being processed at the same time then they take more time for confirmation, but if there aren't a lot of transactions in process at a time then a transaction might take less time.

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Quote from: coinfast on January 08, 2017, 04:11:56 PM

If we compare with other bank transactions Bitcoin transactions are very fast, With in a few seconds you make a transaction, we will get a confirmation message.

Nope, it's different. The confirmation always takes over 10 minutes which mean it will take along than rather than the bank transaction.
The bitcoin system is different with the bank system. The decentralized system will make bitcoin have a lot of nodes. The bank has used the centralized system and at the same time, they've become the trust nodes.
Just take a confirmation by the bank to get the transaction will be delivered.

bitbob82

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Quote from: blackstone on January 04, 2017, 03:20:49 PM

Bitcoin transactions are pretty fast to my guess .not so much like card transactions .hope when its popilarity increase more then it transactions will faster than it is now.

i think it changes from time to time. when the traffic increase on the networking then the transaction fell down to a low level. while other time the transaction remain too fast.

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Quote from: coinfast on January 08, 2017, 04:11:56 PM

If we compare with other bank transactions Bitcoin transactions are very fast, With in a few seconds you make a transaction, we will get a confirmation message.

yeah you are right that bitcoin transaction is very much faster than bank transaction because we can buy anything in few second and we can send our bitcoin in few second so bitcoin transaction is very much faster than other service or bank.

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Quote from: coinfast on January 08, 2017, 04:11:56 PM

If we compare with other bank transactions Bitcoin transactions are very fast, With in a few seconds you make a transaction, we will get a confirmation message.

No waiting days for transfers either, it's instant, how it should be.

coinfast

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If we compare with other bank transactions Bitcoin transactions are very fast, With in a few seconds you make a transaction, we will get a confirmation message.

Taki

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Today bitcoin is on the top of evolution of the money. it took in itself all the best from other payment instruments and avoided all their drawbacks. Transactions in bitcoins are the same fast like when you make a payment with your bank's card and in some cases it's even faster cause of you don't need to put some passwords to prove the operation.

Digitalbitcoin

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Bitcoin is invention and it have certain parameter to finalize transaction made within network. As everyone know how network works when any user send BTC to other user. While this procedure user have to pay transaction fees to miner. Now these fee may vary and depend s upon size of transaction.

As normally every transaction is locked within block and when such block get solved user get confirmation within network about there BTC payment.

But my honest opinion is why to wait for transaction confirmation even when user get notification of Payment receive. Because double spend was biggest problem which is solved by Satoshi Nakamoto. SO why still have to wait for minimum confirmation of Bitcoin payment.

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Quote from: genos on January 04, 2017, 09:12:17 AM

I agree more with you that said bitcoin transactions is very slow and should wait the confirmation that usually done around less than one hour. Because actually the transactions bitcoin is very fast only few seconds but the confirmation is coming late. I think thx can be a proof for sellers and buyers to dont need wait the confirmation. But it also can double spend if you are not thoroughly.

We need to wait at least for 1 confirmation before giving the good to those that pay you in bitcoin, if you don't you run the risk of someone trying to scam you by trying to double spend their coins, it is sad but some will try to scam you that way.

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Few hours ago, I transfer some satoshis from my desktop wallet to my exchange wallet. I could say that it is slow, it takes about three hours now before it gets confirmed which usually only takes half an hour and a maximum of 1 hour when I send, I gave a good amount of transaction fee when I send it . I hope it won't stay this way and gets fixed soon.

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Quote from: blackstone on January 04, 2017, 03:20:49 PM

Bitcoin transactions are pretty fast to my guess .not so much like card transactions .hope when its popilarity increase more then it transactions will faster than it is now.

only if you pay the correct fee, and while the average is only 22k satoshi, still relatively low, the average transactions size seems to eb increase to me so you are actually paying much more

i remember in the back in the days i was paying always 10k satoshi

bravehearth0319

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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.

They both applicable to any member here, because most of the community in bitcoin world are facing this problems actually, so if the internet has strong signal it will surely fast, but if the signal is weak it surely slow.

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Quote from: blackstone on January 04, 2017, 03:20:49 PM

Bitcoin transactions are pretty fast to my guess .not so much like card transactions .hope when its popilarity increase more then it transactions will faster than it is now.

You have the option to choose a faster transaction and you have to pay for bigger fee. But in general, it depends on the network, when it's busy of course there are delays but not a big deal IMO.

blackstone

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Bitcoin transactions are pretty fast to my guess .not so much like card transactions .hope when its popilarity increase more then it transactions will faster than it is now.

GMPoison

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Quote from: mastica on January 04, 2017, 03:06:32 PM

People dont wanna to use bitcoin because it wont let them chargeback if a problem is found at the product, soo scam will happen with more easy then before, even if the seller is a reputable seller he might ignore the feedback and keep his business.

I dont see bitcoin being slow or fast, we took 9 months usually to born, soo you cant wait some minutes till the transaction be confirmed? I know being a shopping and having fun and then wanna to pay and wait its boring, but why dont you pay and when you reach those ammount you will be warned?

Although you obviously cannot chargeback a bitcoin transaction, a system could be implemented for each retailer where they send you your bitcoin back in a different transaction if there was a problem.

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People dont wanna to use bitcoin because it wont let them chargeback if a problem is found at the product, soo scam will happen with more easy then before, even if the seller is a reputable seller he might ignore the feedback and keep his business.

I dont see bitcoin being slow or fast, we took 9 months usually to born, soo you cant wait some minutes till the transaction be confirmed? I know being a shopping and having fun and then wanna to pay and wait its boring, but why dont you pay and when you reach those ammount you will be warned?

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