Faster BTC confirmation time | Bitcointalksearch.org

SebastianJu

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Quote from: RealBitcoin on June 20, 2015, 09:54:09 PM

Quote from: subSTRATA on June 20, 2015, 09:50:12 PM

Quote from: RealBitcoin on June 20, 2015, 09:41:32 PM

Quote from: HeroCat on June 17, 2015, 02:43:56 AM

How to make faster BTC confirmation times from Blockchain with standart fee 0.0001 BTC Cheesy

If you have let say 500 confirmations, it takes a lot of time Grin

Buy better internet connection to the miners, then the confirmation time will be faster Tongue

im about 100% sure you have no idea what youre talking about based on this post alone. internet speeds have absolutely nothing to do with how fast a transaction is confirmed, once the transaction is broadcasted to the network your internet connection doesnt matter; the confirmation time depends on the miners and the priority of the transaction.

Miners do need internet to mine, and that depends on how fast they can broadcast their stuff. If 99% of the miners use a dial-up 128kb/s modem then that will definitely mess up the network doesnt it? Wink

You mix miners with users. For miners its worth being able to promote their newly found block fast to all nodes because then their block wins when another found block competes with it.

For a normal user it doesnt matter. It goest to a couple nodes and from there to the rest. Its practically without effect how fast your internet connection is.

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Quote from: RealBitcoin on June 20, 2015, 09:54:09 PM

Quote from: subSTRATA on June 20, 2015, 09:50:12 PM

Quote from: RealBitcoin on June 20, 2015, 09:41:32 PM

Quote from: HeroCat on June 17, 2015, 02:43:56 AM

How to make faster BTC confirmation times from Blockchain with standart fee 0.0001 BTC Cheesy

If you have let say 500 confirmations, it takes a lot of time Grin

Buy better internet connection to the miners, then the confirmation time will be faster Tongue

im about 100% sure you have no idea what youre talking about based on this post alone. internet speeds have absolutely nothing to do with how fast a transaction is confirmed, once the transaction is broadcasted to the network your internet connection doesnt matter; the confirmation time depends on the miners and the priority of the transaction.

Miners do need internet to mine, and that depends on how fast they can broadcast their stuff. If 99% of the miners use a dial-up 128kb/s modem then that will definitely mess up the network doesnt it? Wink

the miners' connection has no relation to OP's connection, and you would only need an initial connection to broadcast the transaction, after that, the transaction will be broadcast to the rest of the network. unless youre the only node in the entire network, I dont see why you would need an amazing internet connection to broadcast a transaction.

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Quote from: oblivi on June 19, 2015, 12:31:19 PM

I just don't think confirmation times are bad as they are now. We should focus on the blocksize problem and how to make Bitcoin scalable long term. People don't care that confirmation times in credit cards take 100+ days so they will not care that a Bitcoin transaction needs an average of 10 min to be considered as sealed.

I agree with you, The proposal of 20mb sizeblock is best idea to increase block limit

RealBitcoin

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Quote from: subSTRATA on June 20, 2015, 09:50:12 PM

Quote from: RealBitcoin on June 20, 2015, 09:41:32 PM

Quote from: HeroCat on June 17, 2015, 02:43:56 AM

How to make faster BTC confirmation times from Blockchain with standart fee 0.0001 BTC Cheesy

If you have let say 500 confirmations, it takes a lot of time Grin

Buy better internet connection to the miners, then the confirmation time will be faster Tongue

im about 100% sure you have no idea what youre talking about based on this post alone. internet speeds have absolutely nothing to do with how fast a transaction is confirmed, once the transaction is broadcasted to the network your internet connection doesnt matter; the confirmation time depends on the miners and the priority of the transaction.

Miners do need internet to mine, and that depends on how fast they can broadcast their stuff. If 99% of the miners use a dial-up 128kb/s modem then that will definitely mess up the network doesnt it? Wink

subSTRATA

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Quote from: RealBitcoin on June 20, 2015, 09:41:32 PM

Quote from: HeroCat on June 17, 2015, 02:43:56 AM

How to make faster BTC confirmation times from Blockchain with standart fee 0.0001 BTC Cheesy

If you have let say 500 confirmations, it takes a lot of time Grin

Buy better internet connection to the miners, then the confirmation time will be faster Tongue

im about 100% sure you have no idea what youre talking about based on this post alone. internet speeds have absolutely nothing to do with how fast a transaction is confirmed, once the transaction is broadcasted to the network your internet connection doesnt matter; the confirmation time depends on the miners and the priority of the transaction.

RealBitcoin

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Quote from: HeroCat on June 17, 2015, 02:43:56 AM

How to make faster BTC confirmation times from Blockchain with standart fee 0.0001 BTC Cheesy

If you have let say 500 confirmations, it takes a lot of time Grin

Buy better internet connection to the miners, then the confirmation time will be faster Tongue

bitnanigans

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Quote from: HeroCat on June 17, 2015, 02:43:56 AM

How to make faster BTC confirmation times from Blockchain with standart fee 0.0001 BTC Cheesy

If you have let say 500 confirmations, it takes a lot of time Grin

You can make your transaction have a higher priority by setting a higher transaction fee. However, you cannot reduce the confirmation time. That depends on the time the next block is found.

oblivi

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I just don't think confirmation times are bad as they are now. We should focus on the blocksize problem and how to make Bitcoin scalable long term. People don't care that confirmation times in credit cards take 100+ days so they will not care that a Bitcoin transaction needs an average of 10 min to be considered as sealed.

SebastianJu

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Quote from: HeroCat on June 17, 2015, 02:43:56 AM

How to make faster BTC confirmation times from Blockchain with standart fee 0.0001 BTC Cheesy

If you have let say 500 confirmations, it takes a lot of time Grin

Once your transaction got the first confirmation its not possible to change the speed of confirmations coming in since there are only 1 block every 10 minutes in average be found. And you will only get 1 confirmation each time.

Even when you get included in the first block, which means confirmation 1, cant really be adjusted. You only can try. But i already had it that i put a decent fee into it and it took hours. Since then i only pay the minimum fee and i have no problems getting included. So for me changing the fee doesnt make much sense.

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Quote from: brendanjhwu on June 18, 2015, 03:15:40 PM

Quote from: sandy47bt on June 17, 2015, 03:13:24 AM

There's no way to make BTC confirmation faster with 0.0001BTC or higher fees
Even you put very high fees, your confirmation won't be confirmed instantly, but that will guarantee you that your confirmation will be confirmed on next block

If you don't like current confirmation time, you better use altcoin

I mean the confirmation time is a little bit of a problem for in-person sales.

i believe that when bitcoin will be more accepted, no business will force you to wait there because of the confirmation, they will just accept zero confirmation

the probability that something bad can happen to that transaction, is very remote

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Quote from: oblivi on June 18, 2015, 02:31:18 PM

No confirmation will go faster than 10 min. Just set your fee to automatic, it's the best way to guarantee the transaction gets done correctly. You are free to send transactions with 0 fees, but dont complain if they get frozen for a while. We gotta pay the miners, and automatic set transaction seems like the best way to both do that and not bloat the blockchain.

it should be noted by everyone that the difficulty adjusts so that the average time to find a block is 10 minutes. Blocks have been found within a minute of each other, and they may take hours; it is a given that some blocks will take less than 10 minutes to confirm.

brendanjhwu

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Quote from: sandy47bt on June 17, 2015, 03:13:24 AM

There's no way to make BTC confirmation faster with 0.0001BTC or higher fees
Even you put very high fees, your confirmation won't be confirmed instantly, but that will guarantee you that your confirmation will be confirmed on next block

If you don't like current confirmation time, you better use altcoin

I mean the confirmation time is a little bit of a problem for in-person sales.

oblivi

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No confirmation will go faster than 10 min. Just set your fee to automatic, it's the best way to guarantee the transaction gets done correctly. You are free to send transactions with 0 fees, but dont complain if they get frozen for a while. We gotta pay the miners, and automatic set transaction seems like the best way to both do that and not bloat the blockchain.

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Quote from: Marbit on June 17, 2015, 12:39:31 PM

I suppose as much as mining rigs become faster, the confirmation processes will also gets faster with it. We will see some pretty cool and super fast processors soon.

No matter how fast the rigs become, they can't possibly make the blocks found quickly. The difficulty will adjust itself so that the blocks are found every 10 minutes or so.
BTC was mined with CPU initially; then came GPUs, then ASICs. But confirmation times haven't changed because difficulty has risen to keet the block interval at about 10 minutes.

@OP: With higher fees you can hope that your transaction will be given priority by the miners, but it doesn't help with block times. So higher fees doesn't mean having 500 quick confirmation.

cryptworld

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It is imposible

Just set a good fee,sit down and wait for it to be confirmed,you can't do anything else

subSTRATA

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I cant tell if youre asking for the first confirmation to come faster or if you want your transaction to be confirmed at a rate faster than other transactions; in either case, with the former, a higher transaction fee will cause the miners to prioritize your transaction more; and the latter is impossible as all transactions are confirmed when a block is mined, and this rate cannot be controlled.

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Quote from: Rmcdermott927 on June 17, 2015, 10:41:33 PM

I imagine that at some point in the future people will be tired of waiting long times for confirmation and perhaps there will be a protocol change where block times will be faster along with an adjusted block reward to offset the extra blocks being generated.

Confirmation would just be a definite assurance that the transaction doesn't spend from a already spent output. Once the transaction is relayed, those with a record that the output is already spent will ignore that transaction and it cannot be relayed throughout the network as the node will just reject the transaction. Faster confirmation time also mean more bloating and less security. If block is adjusted to 1 minute, the minimum assurance against doublespend attack should be 10 minutes. Needless to say, the stale blocks will be high.

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I imagine that at some point in the future people will be tired of waiting long times for confirmation and perhaps there will be a protocol change where block times will be faster along with an adjusted block reward to offset the extra blocks being generated.

iram66680

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Quote from: Marbit on June 17, 2015, 12:39:31 PM

I suppose as much as mining rigs become faster, the confirmation processes will also gets faster with it. We will see some pretty cool and super fast processors soon.

Incorrect, even if mining rigs starts to get faster, the difference can't be seen from a long term. Bitcoin protocol readjust the difficulty based on average time taken to generate the previous 2016 blocks and attempt to get it to 10minutes. If a group of machine suddenly come online at the start of the difficulty period, the network will only be faster but they will be fast only for 2016 blocks. Unless, after that, the hashrate increase again, only then the network will be faster than 10 minutes.

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Quote from: HeroCat on June 17, 2015, 02:43:56 AM

How to make faster BTC confirmation times from Blockchain with standart fee 0.0001 BTC Cheesy

If you have let say 500 confirmations, it takes a lot of time Grin

you can't get faster time with same fee , you must increase fee of that transaction , I think your transaction can be confirmed in 1second if your fee is 0.1BTC Grin

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