bitcoin transactions - Slow OR Fast - page 7.

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Quote from: umar_alfaroq on January 02, 2017, 10:14:56 PM

normally it takes not more than 10 minutes per transaction to be completed. or else you are not paying the transaction fee high enough

Don't focus too much on the 10 minute block times. Bitcoin having 10 minute block times doesn't mean your transaction will get a confirmation every 10 minutes. Assuming you included an above average fee, then it may take anywhere from 1 to +60 minutes to have your transaction confirmed. This 10 minute block time thing is just an average number that is the outcome of every difficulty adjustment that is meant to keep the average block time at 10 minutes.

Mlich

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Quote from: umar_alfaroq on January 02, 2017, 10:14:56 PM

normally it takes not more than 10 minutes per transaction to be completed. or else you are not paying the transaction fee high enough

For me it takes longer than that inspite setting higher network fees than the blockchain wallet suggests. Maybe the delay is as a result of fewer miners caused by the having. Huh

qiman

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Yesterday I had one transaction take 9 hours to confirm through the blockchain and another one only took one hour, but yes I have noticed the blockchain has slowed down a little bit since I have started using BTC.

alexander212

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Quote from: Kasabus on January 03, 2017, 01:48:33 AM

Quote from: abel1337 on January 03, 2017, 12:14:43 AM

Quote from: Omega Weapon on January 02, 2017, 11:31:21 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 not something new friends, because now we can also get it in E-bank. There we can also transfer quickly and will surely benefit the same bitcoin (delivery rate), but in the E-Bank or Bank we can not get the advantage we already know through price bitcoin. There we can get a greater advantage in having or buying a lot of bitcoin when prices are low and keep it until the high price

Kasabus

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Quote from: abel1337 on January 03, 2017, 12:14:43 AM

Quote from: Omega Weapon on January 02, 2017, 11:31:21 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.

abel1337

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Quote from: Omega Weapon on January 02, 2017, 11:31:21 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.

Omega Weapon

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The confirmation time depends on a lot of factors like how busy 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.

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Quote from: Positid on December 30, 2016, 07:17:01 AM

Quote from: traderethereum on December 30, 2016, 01:52:37 AM

Quote from: Rishabh riyz on December 30, 2016, 12:40:32 AM

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

not really, its depend on the network traffic and if the network can handle many of transactions then i think for completing the transacting its less than 1 hour and i have many time to receive the bitcoin amount in less than 30 minutes.

That's normal and I get used to it already, like now, I receive my money in less than 5 minutes and just right in time when I needed my money.

i have this experience too but i think one hour is the longest time that i have experience, because when i am sending and receiving bitcoin, at least need thirty minutes to complete the confirming and i am fine with that. as long as i see that there is a deposit in my wallet even it is not confirming, then i am sure the amount will be load in my wallet.

umar_alfaroq

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Quote from: agamasrori on January 02, 2017, 11:00:35 PM

Quote from: umar_alfaroq on January 02, 2017, 10:14:56 PM

normally it takes not more than 10 minutes per transaction to be completed. or else you are not paying the transaction fee high enough

But if we compare it with world wide bank transaction, bitcoin is still faster than it. If we use bank system its really difficault, not practicaly and the fee is really high. So I think bitcoin transaction is fast enough.

Yes exactly, i wasn't complaining though, and totally agree with you. the bank transaction sucks especially on overseas and international transactions. it's just, complicated.

agamasrori

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Quote from: umar_alfaroq on January 02, 2017, 10:14:56 PM

normally it takes not more than 10 minutes per transaction to be completed. or else you are not paying the transaction fee high enough

But if we compare it with world wide bank transaction, bitcoin is still faster than it. If we use bank system its really difficault, not practicaly and the fee is really high. So I think bitcoin transaction is fast enough.

aolley

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I think for btc to be taken in stores some sort of second layer or 0-conf insurance needs to happen. But it's not too hard to imagine some sort of btc-standard behind your credit card money, though there are so many possibilities along those lines we get into much smallbase conjecture.

umar_alfaroq

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normally it takes not more than 10 minutes per transaction to be completed. or else you are not paying the transaction fee high enough

whizter

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Quote from: traderethereum on December 30, 2016, 01:52:37 AM

Quote from: Rishabh riyz on December 30, 2016, 12:40:32 AM

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

not really, its depend on the network traffic and if the network can handle many of transactions then i think for completing the transacting its less than 1 hour and i have many time to receive the bitcoin amount in less than 30 minutes.

i think it also depend on transaction fee, if you pay more then the transaction will be faster than you if you pay a minimum fee. but it also a fact that the transaction also depend on network traffic.

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Quote from: grandy on December 30, 2016, 11:37:38 AM

Quote from: Akash1243 on December 30, 2016, 01:35:18 AM

Quote from: Rishabh riyz on December 30, 2016, 12:40:32 AM

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.

grandy

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Quote from: Akash1243 on December 30, 2016, 01:35:18 AM

Quote from: Rishabh riyz on December 30, 2016, 12:40:32 AM

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.

Positid

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Quote from: traderethereum on December 30, 2016, 01:52:37 AM

Quote from: Rishabh riyz on December 30, 2016, 12:40:32 AM

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

not really, its depend on the network traffic and if the network can handle many of transactions then i think for completing the transacting its less than 1 hour and i have many time to receive the bitcoin amount in less than 30 minutes.

That's normal and I get used to it already, like now, I receive my money in less than 5 minutes and just right in time when I needed my money.

traderethereum

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Quote from: Rishabh riyz on December 30, 2016, 12:40:32 AM

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

not really, its depend on the network traffic and if the network can handle many of transactions then i think for completing the transacting its less than 1 hour and i have many time to receive the bitcoin amount in less than 30 minutes.

Rishabh riyz

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Exactly i also agree ;)with you guys

ReLieD

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Quote from: Akash1243 on December 30, 2016, 01:35:18 AM

Quote from: Rishabh riyz on December 30, 2016, 12:40:32 AM

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.

Exactly . I agree with you . It depends on the fees paid by the user. The more he will pay the more faster you will receive.

Akash1243

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Quote from: Rishabh riyz on December 30, 2016, 12:40:32 AM

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.

Topic: bitcoin transactions - Slow OR Fast - page 7. (Read 40387 times)