It IS relevant when you have only 2 blocks created in 40 minutes (like right now) and a merchant that requires at least 3 or 4 confirmations.
A payment processor will cover this. You send the money through them and all is good.
Topic: No matter how much we love BTC, confirmations take way too long! (Read 8492 times)
A payment processor will cover this. You send the money through them and all is good.
June 07, 2017, 08:21:18 PM
If you really love bitcoin, the time of confirmation is not a worrying issue, we have all the measures to resolve it. And of course, transaction fees are not a problem, we have systems that support bitcoin transaction processing, however, the amount is always limited, only 100 transactions are supported per hour. Today, I will give you a place that supports our transaction. http://Https://www.viabtc.com/tools/txaccelerator/
Remember, only the first 100 deals are processed per hour.
Remember, only the first 100 deals are processed per hour.
This is the stupidest thing I've ever read. How are fees not a problem? Do you think Bitcoin was created for the purpose of charging $5 in fees per transactionss and thus making it impossible to be used for micro-transactions?
The ViaBTC transaction accelerator is just one way to try to mitigate the problem we are experiencing at the moment. It is an option that we should never need and that can not be used as a solution, mainly because they only allow the acceleration of 100 transactions per hour. Meanwhile we have + 100k unconfirmed transactions every day.
June 07, 2017, 08:01:35 PM
As the subject gets more obvious and important, I've been ignoring the thread & have not posted for almost 3 whole years.
Can't you people just accept it and move on!!!
This topic may have been created 3 years ago but it's more relevant now than it ever was. Besides if you don't want people posting here why don't you lock the thread? Can't you people just accept it and move on!!!
June 06, 2017, 02:45:58 AM
Exactly i completely agree with that bitcoin transaction for lower amount and lower transaction fees are taking way too long and also it goes unconfirmed transaction or pending for more than week some times it get cancel also . Its breaking bitcoin original purpose
June 05, 2017, 09:33:14 PM
« Not completely serious »
This topic was started almost 3 years ago.
As the subject gets more obvious and important, I've been ignoring the thread & have not posted for almost 3 whole years.
Can't you people just accept it and move on!!!
This topic was started almost 3 years ago.
As the subject gets more obvious and important, I've been ignoring the thread & have not posted for almost 3 whole years.
Can't you people just accept it and move on!!!
June 05, 2017, 05:59:41 PM
When im doing a transaction last month in already taking months to cconfirm so i guess it is really hopeless for the bitcoin because of so many users and the transactions are getting stock in the blockchain but today i guess its already came back almost all of my transactions just takes less than 12 hours so not bad at all.
June 05, 2017, 05:48:12 PM
We can't do anything about the confirmation time because it is true that it's taking a lot of time before it gets confirmation, the only thing that we can is to adjust our fees so we can experience a faster transaction but it will cost more bitcoin but it is worth it if you are in a rush.
Your fee will be determining the priority of your transaction. If you have a high fee and the transaction gets high priority to get signed on the 1 - 10 blocks. And it will take up to 0 - 30 minutes. The accelerator will push your priority transaction to the early block.
And you will able to get fast confirmation rather not use the accelerator.
June 05, 2017, 05:46:03 PM
Compared to what? Bitcoin is the fastest payment network there is. 
I'm sorry, but just no.There are a lot of next-to-instant payment methods like Paypal and Credit Cards, and even most altcoins are faster than BTC now.
June 05, 2017, 05:28:02 PM
Compared to what? Bitcoin is the fastest payment network there is.
I'm sorry, but just no.There are a lot of next-to-instant payment methods like Paypal and Credit Cards, and even most altcoins are faster than BTC now.
In terms of transactions moving from point A to B, PayPal and others might be the fastest as long as payments occur within the ecosystem of these services, but the main point of importance is the time they need to settle. In most cases Bitcoin transactions settle (i.e. confirm) usually within 20-30 minutes. PayPal and others have a settle time of more than 60 days in which people can charge back if they so wish -- that's quite a difference, isn't it?
June 05, 2017, 05:04:03 PM
I always will understand this situation, BTC really take way tok long to confirm transactions. Even me it took 2 days tk confirm the transactions and others still experiencing this kind of problem. Hoping this will resolved immediately.
Do not really expect this to be resolved that easily,we need to have an upgrade in our networks to accommodate more users and with new users coming into bitcoin these things can be resolved only through an upgrade and when it is done then these issues will be gone but it is really hard to tell when these things will be solved as there are more things playing behind the scene . June 05, 2017, 04:39:03 PM
Compared to what? Bitcoin is the fastest payment network there is.
I'm sorry, but just no.There are a lot of next-to-instant payment methods like Paypal and Credit Cards, and even most altcoins are faster than BTC now.
In terms of transactions moving from point A to B, PayPal and others might be the fastest as long as payments occur within the ecosystem of these services, but the main point of importance is the time they need to settle. In most cases Bitcoin transactions settle (i.e. confirm) usually within 20-30 minutes. PayPal and others have a settle time of more than 60 days in which people can charge back if they so wish -- that's quite a difference, isn't it?
June 05, 2017, 04:30:45 PM
Compared to what? Bitcoin is the fastest payment network there is.
I'm sorry, but just no.There are a lot of next-to-instant payment methods like Paypal and Credit Cards, and even most altcoins are faster than BTC now.
We can't do anything about the confirmation time because it is true that it's taking a lot of time before it gets confirmation, the only thing that we can is to adjust our fees so we can experience a faster transaction but it will cost more bitcoin but it is worth it if you are in a rush.
If the cost of the transaction increases very expensive, we should use a reasonable fee, it will not significantly affect the transaction speed. In addition, we should use more supportive measures, viabtc is a concrete example.
We can't do anything about the confirmation time because it is true that it's taking a lot of time before it gets confirmation, the only thing that we can is to adjust our fees so we can experience a faster transaction but it will cost more bitcoin but it is worth it if you are in a rush.
Loving the bitcoin is not enough to fasten up the transaction speed, you are not the only one who is using bitcoin, because there is a lot of transaction in the blockchain processing by the miner, and we have to wait for it, because it is going to some confirmations first before we received it or before we send it to someone. And if you do want to have faster transaction, pay higher transaction fees, so you could have the right to shout it out that it is way too long to be confirmed even though you paid high transaction fees.
Maybe what we need is a company like Visa or MC to supply a service where we deposit bitcoin and they issue the charge as fiat there wouldn't be any conformation time because the confirms would already have happened when you made the deposit.
Well, you said it, there are companies like that they are called Visa and MasterCard, you want to use them? Go ahead pay with your fiat money, you have a choice.But Bitcoin was designed to be p2p network not to rely on 3rd party services for everything.The only exception I can make is when we will have SegWit + LightniningNetwork activated.
I will be something like having off-chain transaction with the help of hubs communicating with each other as 1st layer of the network. This is the best viable solution I know ATM.
BTC should stop justify its current state by comparing itself to the worse.
It should do better than the best, not the worse!
It should do better than the best, not the worse!
Maybe what we need is a company like Visa or MC to supply a service where we deposit bitcoin and they issue the charge as fiat there wouldn't be any conformation time because the confirms would already have happened when you made the deposit.
April 29, 2017, 08:51:35 AM
Its frustrating to wait longer for confirmation when you need money on emergency basis as even after adding higher fees you need to wait for a long time to get bitcoins in your wallet but I am really ok with that as bitcoin is offering me some best benefits which is never possible with fiat.
If you really love bitcoin, the time of confirmation is not a worrying issue, we have all the measures to resolve it. And of course, transaction fees are not a problem, we have systems that support bitcoin transaction processing, however, the amount is always limited, only 100 transactions are supported per hour. Today, I will give you a place that supports our transaction. http://Https://www.viabtc.com/tools/txaccelerator/
Remember, only the first 100 deals are processed per hour.
April 29, 2017, 08:47:09 AM
It IS relevant when you have only 2 blocks created in 40 minutes (like right now) and a merchant that requires at least 3 or 4 confirmations.
The Bitcoin confirmation time is about protecting from double spends. So 1 confirmation means it's unlikely the transaction could be reversed as in you would need a hell of a lot of mining power. 6 confirmations and you're transaction is pretty solid.
So a merchant would generally only wait for confirmations for large transactions. For small transactions it is enough to detect the transaction is in the network, i.e. more or less instant.
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