Topic: Last block took 23 minutes to get mined - page 2. (Read 2706 times)
I think Bitcoin, like gold, will be reserved for larger transactions and other coins, most likely Litecoin, will be for day to day use.
yep its suppose to even out to 1 hour per 6 confirms..
but with so many ASICS hitting the pools daily, the retarget of difficulty is happening sooner and sooner to try to stablise the delay's or super speeds of confirms.
imagine it if each retarget was still a 2 week gap.. we would have at first some nice 10minute gaps.. then during the week, moving down minutes, then to seconds per confirm.. then after a week of super fast confirms, it retargets (to even out to a months worth of averaging 10 minutes).. making the next 2 weeks take a couple hours per confirm, just to counter the 'few seconds' confirms in previous week.
but with so many ASICS hitting the pools daily, the retarget of difficulty is happening sooner and sooner to try to stablise the delay's or super speeds of confirms.
imagine it if each retarget was still a 2 week gap.. we would have at first some nice 10minute gaps.. then during the week, moving down minutes, then to seconds per confirm.. then after a week of super fast confirms, it retargets (to even out to a months worth of averaging 10 minutes).. making the next 2 weeks take a couple hours per confirm, just to counter the 'few seconds' confirms in previous week.
So if someone sent a payment 20 minutes ago, they still would not have seen any confirmations.
I think confirmation time is one of the major drawbacks of Bitcoin going mainstream and local because lets say someone went to a bar, and ordered their drinks and its time to pay. They pay, and would have to sit at the bar for 23 minutes until they even got one confirmation?
And as I am typing this, I sent a payment at xx:53 and its now xx:18 and only have gotten one confirmation because just a second ago the block was mined. 23 minutes for and 0 confirmations is pretty slow
What are your opinions?
I think confirmation time is one of the major drawbacks of Bitcoin going mainstream and local because lets say someone went to a bar, and ordered their drinks and its time to pay. They pay, and would have to sit at the bar for 23 minutes until they even got one confirmation?
And as I am typing this, I sent a payment at xx:53 and its now xx:18 and only have gotten one confirmation because just a second ago the block was mined. 23 minutes for and 0 confirmations is pretty slow
What are your opinions?
block height 260292 took 23 minutes... oh now lets make some panic news that bitcoin is too slow to use...
block height 260293 took 2 minutes... silence, no complaints
block height 260294 took seconds... silence, no complaints
block height 260295 took seconds... silence, no complaints
block height 260296 took 4 minutes... silence, no complaints
block height 260297 took 6 minutes... silence, no complaints
need i say more
yeah but for the people who get caught in the 23 minute block it sucks, and it is slow.
well most of the time you'll need 6 confirmations, which takes about 1 hour.
so if 1 of the 6 blocks took 23 mins and other blocks to 5 mins or seconds. kinda mostly always evens out to about 1 hour...
So if someone sent a payment 20 minutes ago, they still would not have seen any confirmations.
I think confirmation time is one of the major drawbacks of Bitcoin going mainstream and local because lets say someone went to a bar, and ordered their drinks and its time to pay. They pay, and would have to sit at the bar for 23 minutes until they even got one confirmation?
And as I am typing this, I sent a payment at xx:53 and its now xx:18 and only have gotten one confirmation because just a second ago the block was mined. 23 minutes for and 0 confirmations is pretty slow
What are your opinions?
I think confirmation time is one of the major drawbacks of Bitcoin going mainstream and local because lets say someone went to a bar, and ordered their drinks and its time to pay. They pay, and would have to sit at the bar for 23 minutes until they even got one confirmation?
And as I am typing this, I sent a payment at xx:53 and its now xx:18 and only have gotten one confirmation because just a second ago the block was mined. 23 minutes for and 0 confirmations is pretty slow
What are your opinions?
block height 260292 took 23 minutes... oh now lets make some panic news that bitcoin is too slow to use...
block height 260293 took 2 minutes... silence, no complaints
block height 260294 took seconds... silence, no complaints
block height 260295 took seconds... silence, no complaints
block height 260296 took 4 minutes... silence, no complaints
block height 260297 took 6 minutes... silence, no complaints
need i say more
yeah but for the people who get caught in the 23 minute block it sucks, and it is slow.
So if someone sent a payment 20 minutes ago, they still would not have seen any confirmations.
I think confirmation time is one of the major drawbacks of Bitcoin going mainstream and local because lets say someone went to a bar, and ordered their drinks and its time to pay. They pay, and would have to sit at the bar for 23 minutes until they even got one confirmation?
And as I am typing this, I sent a payment at xx:53 and its now xx:18 and only have gotten one confirmation because just a second ago the block was mined. 23 minutes for and 0 confirmations is pretty slow
What are your opinions?
I think confirmation time is one of the major drawbacks of Bitcoin going mainstream and local because lets say someone went to a bar, and ordered their drinks and its time to pay. They pay, and would have to sit at the bar for 23 minutes until they even got one confirmation?
And as I am typing this, I sent a payment at xx:53 and its now xx:18 and only have gotten one confirmation because just a second ago the block was mined. 23 minutes for and 0 confirmations is pretty slow
What are your opinions?
block height 260292 took 23 minutes... oh now lets make some panic news that bitcoin is too slow to use...
block height 260293 took 2 minutes... silence, no complaints
block height 260294 took seconds... silence, no complaints
block height 260295 took seconds... silence, no complaints
block height 260296 took 4 minutes... silence, no complaints
block height 260297 took 6 minutes... silence, no complaints
need i say more
Cool, I did not know that double spending is expensive to do. Mind explaining how double spending is done? And what the costs are?
Credit card payments aren't fully verified either, and yet all merchants accept them. Part of the cost of each credit card transaction pays for the fraudulent transactions that happen on a daily basis.
Furthermore, no one will attempt a double-spend for a $5 drink. Its very expensive to do, so it would only happen for larger amounts.
Furthermore, no one will attempt a double-spend for a $5 drink. Its very expensive to do, so it would only happen for larger amounts.
So if someone sent a payment 20 minutes ago, they still would not have seen any confirmations.
I think confirmation time is one of the major drawbacks of Bitcoin going mainstream and local because lets say someone went to a bar, and ordered their drinks and its time to pay. They pay, and would have to sit at the bar for 23 minutes until they even got one confirmation?
And as I am typing this, I sent a payment at xx:53 and its now xx:18 and only have gotten one confirmation because just a second ago the block was mined. 23 minutes for and 0 confirmations is pretty slow
What are your opinions?
I think confirmation time is one of the major drawbacks of Bitcoin going mainstream and local because lets say someone went to a bar, and ordered their drinks and its time to pay. They pay, and would have to sit at the bar for 23 minutes until they even got one confirmation?
And as I am typing this, I sent a payment at xx:53 and its now xx:18 and only have gotten one confirmation because just a second ago the block was mined. 23 minutes for and 0 confirmations is pretty slow
What are your opinions?
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