Can we still say that BTC transactions are faster? - page 4.

Assmaster2000

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Quote from: Lauda on June 09, 2016, 10:26:44 AM

Quote from: Assmaster2000 on June 09, 2016, 10:11:45 AM

Not joking, explain the difference between me subscribing to a magazine and mailing a check, and your 0-confirm transactions. Penny Stock Weekly won't be able to spend the check I sent them until it clears, your trading partner won't be able to spend the unconfirmed transaction. Where's the difference?

So you're saying the following:

Double-spending a TX is easy and can be done by anyone
It takes the same amount of time for a unconfirmed TX to get confirmed as it takes a check to be cleared.

Neither one is true.

I'm asking you to explain the difference between an unconfirmed transaction and a check in the mail (which hasn't cleared). I can rephrase the question again, if you wish.
To put this back in context:

Quote from: Assmaster2000 on June 09, 2016, 10:00:33 AM

Quote from: Lauda on June 09, 2016, 09:50:53 AM

Wrong. Transaction time is: ~1-3 seconds. Confirmation time is: ~10 Minutes.

Dropping a check in the mail is ~1-3 seconds too. Of course, the recipient won't be able to spend the money until the check clears, but that's no different from your unconfirmed transaction.

edit: Yes, a check takes longer than 10 minutes to clear, though 10 minutes is far longer than "~1-3 seconds." Speed of BTC confirms is a different topic. We're looking for fundamental differences between an uncleared check & unconfirmed bitcoin transaction.

Update: ~~I'm not going to waste more time on you.~~

plz no!!

Lauda

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Quote from: Assmaster2000 on June 09, 2016, 10:11:45 AM

Not joking, explain the difference between me subscribing to a magazine and mailing a check, and your 0-confirm transactions. Penny Stock Weekly won't be able to spend the check I sent them until it clears, your trading partner won't be able to spend the unconfirmed transaction. Where's the difference?

So you're saying the following:

Double-spending a TX is easy and can be done by anyone
It takes the same amount of time for a unconfirmed TX to get confirmed as it takes a check to be cleared.

The time difference is huge. We are talking about proper TX's here.

Update: I'm not going to waste more time on you. What you're trying to pinpoint is not of relevance.

Assmaster2000

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Quote from: TastyChillySauce00 on June 09, 2016, 10:16:53 AM

Quote from: Assmaster2000 on June 09, 2016, 10:11:45 AM

Quote from: Lauda on June 09, 2016, 10:07:07 AM

Quote from: Assmaster2000 on June 09, 2016, 10:05:39 AM

So you agree, bitcoin's fast, like checks in the mail? or?

Stop with the false analogies. Bitcoin is faster than anything available from the traditional system.

Not joking, explain the difference between me subscribing to a magazine and mailing a check, and your 0-confirm transactions. Penny Stock Weekly won't be able to spend the check I sent them until it clears, your trading partner won't be able to spend the unconfirmed transaction. Where's the difference?

using blockchain.info still can spend an unconfirmed balance in the old version, don't know with the latest blockchain.info version but once the balance confirmed,the bitcoin which has been spent will get confirmed too and it doesn't take too many time sometimes

So I can send myself money with 0tx fee, spend it from the recipient wallet, and, when it fails to confirm and comes back, like it would likely do here:

Quote from: Assmaster2000 on June 09, 2016, 06:51:57 AM

Quote from: altcoinhosting on June 09, 2016, 05:52:10 AM

Quote from: windylouw on June 09, 2016, 04:47:31 AM

Dont know will takes how long the transaction will get confirm or will get rejected.

If you're asking us how long it will take for the transaction to be added to a block: nobody knows... It can happen 10 seconds from now, or it can take several days (or more).
It's all pure luck. A miner decides which transactions he'll put in the block he's mining. He might chose your transaction, or he might chose somebody else's... A lot of times, miners chose the transactions with the highest fee per byte, some of them do make exceptions tough. Maybe one of the pool operators takes pitty and adds your transaction out of kindness, you never know Wink

Good luck!

The future is finally here.

...I can rinse and repeat? That's so cool!

TastyChillySauce00

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Quote from: Assmaster2000 on June 09, 2016, 10:11:45 AM

Quote from: Lauda on June 09, 2016, 10:07:07 AM

Quote from: Assmaster2000 on June 09, 2016, 10:05:39 AM

So you agree, bitcoin's fast, like checks in the mail? or?

Stop with the false analogies. Bitcoin is faster than anything available from the traditional system.

Not joking, explain the difference between me subscribing to a magazine and mailing a check, and your 0-confirm transactions. Penny Stock Weekly won't be able to spend the check I sent them until it clears, your trading partner won't be able to spend the unconfirmed transaction. Where's the difference?

using blockchain.info still can spend an unconfirmed balance in the old version, don't know with the latest blockchain.info version but once the balance confirmed,the bitcoin which has been spent will get confirmed too and it doesn't take too many time sometimes

Assmaster2000

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Quote from: Lauda on June 09, 2016, 10:07:07 AM

Quote from: Assmaster2000 on June 09, 2016, 10:05:39 AM

So you agree, bitcoin's fast, like checks in the mail? or?

Stop with the false analogies. Bitcoin is faster than anything available from the traditional system.

Not joking, explain the difference between me subscribing to a magazine and mailing a check, and your 0-confirm transactions. Penny Stock Weekly won't be able to spend the check I sent them until it clears, your trading partner won't be able to spend the unconfirmed transaction. Where's the difference?

Lauda

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Quote from: Assmaster2000 on June 09, 2016, 10:05:39 AM

So you agree, bitcoin's fast, like checks in the mail? or?

Stop with the false analogies. Bitcoin is faster than anything available from the traditional system.

Assmaster2000

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Activity: 84

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Quote from: Lauda on June 09, 2016, 10:02:46 AM

Quote from: Assmaster2000 on June 09, 2016, 10:00:33 AM

Dropping a check in the mail is ~1-3 seconds too. Of course, the recipient won't be able to spend the money until the check clears, but that's no different from your unconfirmed transaction.

Who says that you have to be able to spend that money instantly? I've used a lot of services which delivered the expected goods as soon as the TX arrived at their destination. You're comparing apples and tomatoes.

So you agree, bitcoin's fast, like checks in the mail?
or?

Lauda

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Quote from: Assmaster2000 on June 09, 2016, 10:00:33 AM

Dropping a check in the mail is ~1-3 seconds too. Of course, the recipient won't be able to spend the money until the check clears, but that's no different from your unconfirmed transaction.

Who says that you have to be able to spend that money instantly? I've used a lot of services which delivered the expected goods as soon as the TX arrived at their destination. This is a clear case of false analogy.

Assmaster2000

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Quote from: Lauda on June 09, 2016, 09:50:53 AM

Wrong. Transaction time is: ~1-3 seconds. Confirmation time is: ~10 Minutes.

Dropping a check in the mail is ~1-3 seconds too. Of course, the recipient won't be able to spend the money until the check clears, but that's no different from your unconfirmed transaction.

noormcs5

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Quote from: ObscureBean on June 09, 2016, 07:51:49 AM

Yea it's happened to me as well a few where it takes a while to confirm, don't know about a full hour though. I'm assuming you've included the recommended fee so all you have to do now is wait. The lightning network is around the corner so don't despair Wink

I think if we use the recommended network fee then it is most likely that transcation will be completed on time. However if we lower the transcation fee then it is most likely that the confirmation takes considerable larger times to complete.

n2004al

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Quote from: Superways on June 08, 2016, 06:40:26 AM

Can we still say that bitcoin transactions are faster?
I have send some of my bitcoins to an address and about one hour has been passed but still there is not even a single confirmation.

what do you say about the transaction timing?

I don't see any significant change at the time of confirmation. And as for me cannot be seen. The confirmation is connected mainly with the time of "producing" of a new block and the time between two blocks is fixed and cannot be changed (about 10 min). If there can be some blocks which are produced fast there must be some others which will be produced late. Your confirmation depends from the time in which is made.

Lauda

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Quote from: jacee on June 09, 2016, 09:11:41 AM

Well, the transaction is fast unlike other payment processor, what we could say that is no longer fast is the conirmation of transactions which takes longer than usual these days.

No, it does not. It requires the exact same amount of time that it always did, 10 minutes on average per confirmation.

Quote from: HeroCat on June 09, 2016, 09:12:56 AM

BTC transaction time now is even ~ 28 hours. Of course it is a long time, for example bank payments are faster. Grin

Wrong. Transaction time is: ~1-3 seconds. Confirmation time is: ~10 Minutes.

Quote from: poplolnman on June 09, 2016, 09:24:47 AM

that case are rare , i can say it could happened 1 from 100,000 transaction. it's happened to me too sometimes.

No. There is no chance of this happening if you know how to properly use Bitcoin (which includes both knowing what causes these things and knowing how to avoid them). The chance for a confirmation time of 28 hours for a proper transaction (assuming rational size, and adequate fee) is 0.

Quote from: poplolnman on June 09, 2016, 09:24:47 AM

bitcoin just need to make it consistent confirming the transaction in 1 conf only

This sentence does not make sense. Maybe you've meant after 1 block?

poplolnman

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Quote from: HeroCat on June 09, 2016, 09:12:56 AM

BTC transaction time now is even ~ 28 hours. Of course it is a long time, for example bank payments are faster. Grin

that case are rare , i can say it could happened 1 from 100,000 transaction. it's happened to me too sometimes. but i believe bitcoin are the fastest payment processor so far. bitcoin just need to make it consistent confirming the transaction in 1 conf only , i don't know how the techincal bitcoin network so i may could be wrong.

Jasad

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= jasad =

Quote from: Superways on June 08, 2016, 06:40:26 AM

Can we still say that bitcoin transactions are faster?
I have send some of my bitcoins to an address and about one hour has been passed but still there is not even a single confirmation.

what do you say about the transaction timing?

yap ialso feel that bitcoin going fasterandinever heard about delay transactions,but i think blockchain also have higher fees that last time i create transaction. but this is will good for us and better transaction should require higher fees.

HeroCat

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BTC transaction time now is even ~ 28 hours. Of course it is a long time, for example bank payments are faster. Grin

jacee

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Quote from: Superways on June 08, 2016, 06:40:26 AM

Can we still say that bitcoin transactions are faster?
I have send some of my bitcoins to an address and about one hour has been passed but still there is not even a single confirmation.

what do you say about the transaction timing?

Well, the transaction is fast unlike other payment processor, what we could say that is no longer fast is the conirmation of transactions which takes longer than usual these days.

Ains_sama

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Quote from: Superways on June 08, 2016, 06:40:26 AM

Can we still say that bitcoin transactions are faster?
I have send some of my bitcoins to an address and about one hour has been passed but still there is not even a single confirmation.

what do you say about the transaction timing?

not fast but more simple payment processor

wintermeasures

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Quote from: Superways on June 08, 2016, 06:40:26 AM

Can we still say that bitcoin transactions are faster?
I have send some of my bitcoins to an address and about one hour has been passed but still there is not even a single confirmation.

what do you say about the transaction timing?

Of course I still say bitcoin transaction is the fastest and cheaper than other transactions. Maybe it happens because too much output you requested. but just take your transaction will be successful. Thank you

akamit

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I think sometimes Bitcoin transactions become headache?
Once I requested a payment from gambling site and it took over 2000 confirmations and maybe over 15 days. Embarrassed

I don't know what was the problem, but I received the coins.

jhenfelipe

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Based on my experience, all I can say is yes, btc transactions are still faster. Like earlier I transferred funds from my old to my new wallet address and it was pretty fast, after some second of clicking the send button, I already received it to my new wallet. That's why I'm still good in transacting bitcoins, easy and convenient indeed.

Topic: Can we still say that BTC transactions are faster? - page 4. (Read 3961 times)