BTC Transaction time - page 3. | Bitcointalksearch.org

Yuki1988

hero member

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Quote from: smartmoney on September 21, 2014, 12:57:57 PM

Is there a chart somewhere showing the time it takes to get the 1st confirmation as a function of transaction fee % or transaction amount?

What is the average BTC transaction time and what other factors influence it significantly?

Not exactly what you are looking for, but here is a graph about the average confirmation time.
https://blockchain.info/charts/avg-confirmation-time

o_o

full member

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From my experience it takes anywhere between 5-20 minutes in usual conditions between two mined blocks. Sometimes it's more or less than that though and apparently there isn't a guaranteed outcome.

amaclin

legendary

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Quote from: Velkro on September 21, 2014, 03:20:00 PM

Its really bad this transaction fees, it shouldn't be optional, it should be always 1000 satoshi deducted from transaction, thats all

You are welcome to create your own bitcoin-fork or alt-coin network were the fees are not optional.
Optional fees - is a consensus rule of current bitcoin

Argwai96

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Thug for life!

Quote from: odolvlobo on September 21, 2014, 02:21:34 PM

Quote from: smartmoney on September 21, 2014, 12:57:57 PM

Is there a chart somewhere showing the time it takes to get the 1st confirmation as a function of transaction fee % or transaction amount?

What is the average BTC transaction time and what other factors influence it significantly?

This page describes the criteria used in the reference implementation for adding transactions to the next block. Some miners use other criteria. In general, paying "extra" rarely improves your chances.

https://en.bitcoin.it/wiki/Transaction_fees

I use the default settings to send, so when I have a lot of small inputs, I often get "Within 6 blocks/Medium Priority" rather than "Next block/High Priority". I'd say 90-95% of the time in my (anecdotal) experience, I get confirmed on the next block. Occasionally, though, I have to wait one more.

Velkro

legendary

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Its really bad this transaction fees, it shouldn't be optional, it should be always 1000 satoshi deducted from transaction, thats all

odolvlobo

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Quote from: smartmoney on September 21, 2014, 12:57:57 PM

Is there a chart somewhere showing the time it takes to get the 1st confirmation as a function of transaction fee % or transaction amount?

What is the average BTC transaction time and what other factors influence it significantly?

This page describes the criteria used in the reference implementation for adding transactions to the next block. Some miners use other criteria. In general, paying "extra" rarely improves your chances.

https://en.bitcoin.it/wiki/Transaction_fees

shorena

copper member

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No I dont escrow anymore.

Quote from: smartmoney on September 21, 2014, 12:57:57 PM

Is there a chart somewhere showing the time it takes to get the 1st confirmation as a function of transaction fee % or transaction amount?

1st confirmation is the next block your TX is in. It has nothing to do with the fee % and very little with amount transfered*. As long as the fee in comparisson to the size (in KB) is reasonable (according to miners) - which currently is 0.0001 per KByte - your TX will be in the next block (which on average are mined every 10 minutes).

Quote from: smartmoney on September 21, 2014, 12:57:57 PM

What is the average BTC transaction time and what other factors influence it significantly?

Transaction time (as in the other party knows about it) is almost instantly. Confirmation time depends on the time it takes to find a block. This time is regulated via the difficulty to match 10 minutes on average.

* there is something called mature inputs which might allow you to send a TX without a fee. The idea is that big inputs (much btc spend) that did not get moved a long time need no TX fee.

smartmoney

newbie

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Is there a chart somewhere showing the time it takes to get the 1st confirmation as a function of transaction fee % or transaction amount?

What is the average BTC transaction time and what other factors influence it significantly?

Topic: BTC Transaction time - page 3. (Read 2265 times)