bitcoin transactions - Slow OR Fast - page 6.

BitHodler

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Quote from: farhaan on January 04, 2017, 08:56:00 AM

Bitcoin transaction is pretty good but time taken for confirmation of transaction is more. It is a great issue which has to be solved so that all small business shops start accepting bitcoin payment.

Confirmation times are not an issue for merchants accepting Bitcoin at all.

The far majority of the merchants make use of a payment processor such as BitPay to handle all Bitcoin related transactions.

The merchant gets a message that the payment went through and then sends out whatever you purchased. There is no merchant involvement in Bitcoin at all.

cpfreeplz

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Quote from: ?? on ??

it took me one hour or more to recieve my coins now~!

That's not what the op asked. He asked if TRANSACTIONS are slow or fast. Transactions are nearly instant so the question was worded wrongly. If you don't have a confirmation on your transaction yet that doesn't mean the transaction is slow, it means they paid you a piss poor fee because whoever sent it to you didn't care when it got to you, or was just cheap (or of course they don't understand how bitcoins work. Like yourself lol).

ahmia39

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Quote from: ?? on ??

it took me one hour or more to recieve my coins now~!

for me, bitcoin transactions quickly. fastest than other currency Wink

farhaan

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Bitcoin transaction is pretty good but time taken for confirmation of transaction is more. It is a great issue which has to be solved so that all small business shops start accepting bitcoin payment.

shinscarlet

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Quote from: fuathan on January 03, 2017, 09:22:01 PM

Nowadays. transactions are really slow... I hope they can find a better way to do the transactions. Huh

When BTC spreads all around the world they need fast transaction speed.

I just faced this problem too and this is really a problem when it comes to an urgent transaction

genos

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Any store can buy, sell, and accept Crypto

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.

chairul.muttaqin

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Bitcoin transaction is pretty fast, if some people said that 10 minute for confirmation is a long time, they have to compare it with world wide bank tranfer money that need a few days and the fee is so high, also it is very difficult and not practicaly to send money to different bank. So bitcoin is fast enough.

Rizky Aditya

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Quote from: Juggy777 on January 03, 2017, 05:16:43 AM

I had my first super slow experience on Monday when I the coins showed pending in my account. I knew it would confirm in a few hours, so I kept waiting and waiting and nearly 48 hours later it took place. This was the slowest transaction that happened with me. Really was surprised that it took so long, but was glad that it finally did come. Though on other occasions it normally happens really quickly. Any one else had such slow transaction from Monday?

I have not really been experiencing slow transactions. I haven't been sending or receiving Bitcoin lately, but when I have, they have pretty fast transactions. Hopefully it doesn't slow down and when it does, it is normally not for a very long time. As in, your next transaction could be really fast.

goldcoinminer

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Quote from: Mr.grin on January 03, 2017, 10:38:23 PM

Quote from: GMPoison on January 03, 2017, 10:31:36 PM

Quote from: fuathan on January 03, 2017, 09:22:01 PM

Nowadays. transactions are really slow... I hope they can find a better way to do the transactions. Huh

When BTC spreads all around the world they need fast transaction speed.

Transactions are instant, confirmation is what takes so long, correct?

If so, is there any fraud that can be committed between the delivery time of the coins and the confirmation time of the coins? Sometimes it can take a while for a transaction to be confirmed, but if there is no fraud that could take place between that time then merchant could simply see that you made the payment nearly instantly at a check out line for example and it could be as simple as that.

Yes you're right. all the constraints of bitcoin transactions occur only in confirmation, because I also see that sending bitcoin occur instantly. it is probably because so many transactions simultaneously, so it takes time to confirm transactions carried out on the same second. even the best of programs, will make a time-out to make it under control.

The thing is, no program that is perfect, what we can do for now is to bear with it. It's not the big weakness of bitcoin because our money can still be receive by our transacting party. We must not ask for a perfect one if we can be satisfied with bitcoin still.

RealBitcoin

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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.

Yes via bitcoin credit/debit cards, Bitcoin blockchain is the settlement layer, however for purchases that you want to be instant, you will most likely use a 3rd party bank card, which will probably be issued by banks in the future, once they embark Bitcoin.

This way both banks and cryptocurrencies can survive and actually cooperate. We only need to get rid of fiat money, but the other tools can stay, since they proved themselvesto be easy to use.

We are going cashless anyway, the question is, will you have Euro/Dollar on your card or Bitcoin?

Mr.grin

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Quote from: GMPoison on January 03, 2017, 10:31:36 PM

Quote from: fuathan on January 03, 2017, 09:22:01 PM

Nowadays. transactions are really slow... I hope they can find a better way to do the transactions. Huh

When BTC spreads all around the world they need fast transaction speed.

Transactions are instant, confirmation is what takes so long, correct?

If so, is there any fraud that can be committed between the delivery time of the coins and the confirmation time of the coins? Sometimes it can take a while for a transaction to be confirmed, but if there is no fraud that could take place between that time then merchant could simply see that you made the payment nearly instantly at a check out line for example and it could be as simple as that.

Yes you're right. all the constraints of bitcoin transactions occur only in confirmation, because I also see that sending bitcoin occur instantly. it is probably because so many transactions simultaneously, so it takes time to confirm transactions carried out on the same second. even the best of programs, will make a time-out to make it under control.

Positid

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Quote from: GMPoison on January 03, 2017, 10:31:36 PM

Quote from: fuathan on January 03, 2017, 09:22:01 PM

Nowadays. transactions are really slow... I hope they can find a better way to do the transactions. Huh

When BTC spreads all around the world they need fast transaction speed.

Transactions are instant, confirmation is what takes so long, correct?

If so, is there any fraud that can be committed between the delivery time of the coins and the confirmation time of the coins? Sometimes it can take a while for a transaction to be confirmed, but if there is no fraud that could take place between that time then merchant could simply see that you made the payment nearly instantly at a check out line for example and it could be as simple as that.

I don't think there's a fraud that's going to happen because I have never experience that once in my life here in crypto. It's just slow when the network is busy and that's it.

GMPoison

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Quote from: fuathan on January 03, 2017, 09:22:01 PM

Nowadays. transactions are really slow... I hope they can find a better way to do the transactions. Huh

When BTC spreads all around the world they need fast transaction speed.

Transactions are instant, confirmation is what takes so long, correct?

If so, is there any fraud that can be committed between the delivery time of the coins and the confirmation time of the coins? Sometimes it can take a while for a transaction to be confirmed, but if there is no fraud that could take place between that time then merchant could simply see that you made the payment nearly instantly at a check out line for example and it could be as simple as that.

fuathan

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Aleph.im

Nowadays. transactions are really slow... I hope they can find a better way to do the transactions. Huh

When BTC spreads all around the world they need fast transaction speed.

skyway1

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Quote from: akar87 on December 30, 2016, 10:50:43 AM

Quote from: grandy on December 30, 2016, 10:37:38 AM

Quote from: Akash1243 on December 30, 2016, 12:35:18 AM

Quote from: Rishabh riyz on December 29, 2016, 11:40:32 PM

See bitcoin transactions depends upon the speed of youe internet
But usually it takes upto 1 hour

This is so wrong bitcoin transaction has nothing to do with your Internet speed, it depends on how mood of miners really lol but usually if you send more fees it will get confirmed faster.

yes that is right to say it really do not depend on the internet speed but depend one your transaction fee, if you pay a little high fee for transaction then your transaction will be too fast.

for me bitcoin transaction is fast. because i always use pay the transactions higher.

Yeah bitcoin transaction is very much faster than other service and bitcoin technology is very much advance and still i never face to any problem with bitcoin transaction because bitcoin transaction is smooth and faster .

Gameroid

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Quote from: Blitzboy on January 03, 2017, 05:22:00 AM

Quote from: Omega Weapon on January 02, 2017, 10:31:21 PM

The confirmation time depend on a lot of factor like how buys is the network, the miners, the fee you send in your transaction and the use you want to give to bitcoin, if you only want to move money from one country to another then bitcoin is very fast but if you want to buy something and need a confirmation in seconds then bitcoin is slow.

I agree with you, it's all about how you want to use bitcoin. In compare with fiat money or bank system, bitcoin seems to be the fastest way to transfer money from one place to another, especially when the transactions are overseas. But in the meantime, it takes quite much to buy something or to have payments in bitcoin, and in this case fiat money is the one which takes control Grin

actually it depend on some factors and to me i think the main factor is that of the traffic when the rate of buying and selling bitcoin increase the transaction also respectively change, the second factor is he fee structure if you are paying high fees then the transaction can be fast and if you pare paying low fee then the transaction will slow down and will take some more time.

Daifotis

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Quote from: Blitzboy on January 03, 2017, 05:22:00 AM

I agree with you, it's all about how you want to use bitcoin. In compare with fiat money or bank system, bitcoin seems to be the fastest way to transfer money from one place to another, especially when the transactions are overseas. But in the meantime, it takes quite much to buy something or to have payments in bitcoin, and in this case fiat money is the one which takes control Grin

It's not that fiat or bitcoin is on take control now, it's just that both have different lines of dominating the way we use our money.

For convenience in physical transactions, fiat dominates over bitcoin while at some point, bitcoin is better in terms of online transacting. And other cases might happen to like fiat dominates bitcoin over online transacting depends on the system people are using.

Blitzboy

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Quote from: Omega Weapon on January 02, 2017, 10:31:21 PM

The confirmation time depend on a lot of factor like how buys is the network, the miners, the fee you send in your transaction and the use you want to give to bitcoin, if you only want to move money from one country to another then bitcoin is very fast but if you want to buy something and need a confirmation in seconds then bitcoin is slow.

I agree with you, it's all about how you want to use bitcoin. In compare with fiat money or bank system, bitcoin seems to be the fastest way to transfer money from one place to another, especially when the transactions are overseas. But in the meantime, it takes quite much to buy something or to have payments in bitcoin, and in this case fiat money is the one which takes control Grin

Juggy777

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I had my first super slow experience on Monday when I the coins showed pending in my account. I knew it would confirm in a few hours, so I kept waiting and waiting and nearly 48 hours later it took place. This was the slowest transaction that happened with me. Really was surprised that it took so long, but was glad that it finally did come. Though on other occasions it normally happens really quickly. Any one else had such slow transaction from Monday?

TastyChillySauce00

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Quote from: Kasabus on January 03, 2017, 12:48:33 AM

Quote from: abel1337 on January 02, 2017, 11:14:43 PM

Quote from: Omega Weapon on January 02, 2017, 10:31:21 PM

The confirmation time depend on a lot of factor like how buys is the network, the miners, the fee you send in your transaction and the use you want to give to bitcoin, if you only want to move money from one country to another then bitcoin is very fast but if you want to buy something and need a confirmation in seconds then bitcoin is slow.

I agree , It is depending on the situation. If you want to send money in other countries it is quite fast if you compare in other money sending services like remittance center , bank transfer and other digital transfer.

Well, compared to bank and other remittance center, bitcoin is way faster because once it is sent it is automatically sent to a specific address. Banks double check the transaction before clearing it, and lots of regulations they must have to consider with fund transfer, there's even a possibility that transaction can be on hold or freeze.

It's right if after you send the bitcoin it will directly and instantly arrived in the receiver's address but I think it's still unconfirmed yet when confirmation in blockchain system is really a thing and really important.
No one is going to consider the transaction done until the confirmation arrived hence it's the only thing that make bitcoin transaction slower than ordinary transaction through bank transfer

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