Topic: Sick of the confirmation time... (Read 4201 times)
Slow confirm times can be annoying sometimes, but most of the time it's not too big of an issue. It is usually less processing time than fiat methods of exchanging money anyhow.
Everything's relative.
I got paid by cheque 2 week's ago and it took 10 days to clear in my Building Society account.
and the parasite's still had the nerve to charge me for it too.
I got paid by cheque 2 week's ago and it took 10 days to clear in my Building Society account.
and the parasite's still had the nerve to charge me for it too. If you're tired of the confirmation time you are probably gambling and waiting for your deposits to clear...
For most everything else it is not really a concern. I mean I could see how you would be tensely waiting for a confirm if sending millions of dollars worth of BTC in one transaction or something, but for everyday purchases and whatnot it's not really a big deal in my opinion.
For most everything else it is not really a concern. I mean I could see how you would be tensely waiting for a confirm if sending millions of dollars worth of BTC in one transaction or something, but for everyday purchases and whatnot it's not really a big deal in my opinion.
That is the thing most gambling sites you don't even need a confirmation and some others just the one that is never really a problem i am not sure why it annoys the op and some others i am not to fussed with the wait it should never be longer than 45minutes although i have has a few transactions that have taken a few hours that was annoying but it was a one off so not to bad.
LTC confirms much faster.
This is a disturbingly common misconception. The security afforded by a 2.5 minute average confirmation block is 1/4 that of a 10 minute average confirmation block.
IT might be 1/4 as much security, but, at least for that first confirmation, you can at least see that it had valid inputs. That is worlds more security than accepting a zero confirmation transaction.
Thanks btcbobby. Sometimes posting here is like talking to a rock
for a small purchase the security of LTC is PERFECT!!
now for a real estate transaction, the conf. time of BTC, compared to the fiat transaction that takes days, is also PERFECT
Jedem das Seine!
http://en.wikipedia.org/wiki/Jedem_das_Seine
If you're tired of the confirmation time you are probably gambling and waiting for your deposits to clear...
For most everything else it is not really a concern. I mean I could see how you would be tensely waiting for a confirm if sending millions of dollars worth of BTC in one transaction or something, but for everyday purchases and whatnot it's not really a big deal in my opinion.
For most everything else it is not really a concern. I mean I could see how you would be tensely waiting for a confirm if sending millions of dollars worth of BTC in one transaction or something, but for everyday purchases and whatnot it's not really a big deal in my opinion.
What happens if I'm a new node that just finished syncing, and receive a 20-min block with reduced difficulty? I have no way to know an agreement has happened, and will reject the block.
So? You'd be one node of the thousands... you're rejection should have no bearing on what the other nodes do...
That means that if your proposal was accepted right now, there would only ever be 7118 nodes for ever and ever. No new node will be able to join because they see an invalid blockchain.
once the other nodes confirm the block and a subsequent one, would your node not then accept it as being part of the chain and move on? Seems highly illogical and a major flaw in the design if it wouldn't.
Highly illogical? It's the other way round. A node shouldn't care what the other nodes do, it should be able to validate the blockchain on its own. If not, then we start to add trust to the system, which is precisely what Bitcoin is designed not to need.
What should happen is if a block takes more than 15 minutes to find, the difficulty should temporarily plunge.
Also, how can that be implemented without a central time server?
Does each node not have the time of the last block? When the clock on each node is over 15 minutes from the last block, send out a request to other nodes to confirm that they too agree it's been over 15 minutes, if there is a consensus among say 60% of the nodes that the time since the last block was over 15 minutes, then temporarily reduce the difficulty until the next block is found; then it goes back up to where it was.
What happens if I'm a new node that just finished syncing, and receive a 20-min block with reduced difficulty? I have no way to know an agreement has happened, and will reject the block.
So? You'd be one node of the thousands... you're rejection should have no bearing on what the other nodes do... once the other nodes confirm the block and a subsequent one, would your node not then accept it as being part of the chain and move on? Seems highly illogical and a major flaw in the design if it wouldn't.
What should happen is if a block takes more than 15 minutes to find, the difficulty should temporarily plunge.
Also, how can that be implemented without a central time server?
Does each node not have the time of the last block? When the clock on each node is over 15 minutes from the last block, send out a request to other nodes to confirm that they too agree it's been over 15 minutes, if there is a consensus among say 60% of the nodes that the time since the last block was over 15 minutes, then temporarily reduce the difficulty until the next block is found; then it goes back up to where it was.
What happens if I'm a new node that just finished syncing, and receive a 20-min block with reduced difficulty? I have no way to know an agreement has happened, and will reject the block.
What should happen is if a block takes more than 15 minutes to find, the difficulty should temporarily plunge.
Also, how can that be implemented without a central time server?
Does each node not have the time of the last block? When the clock on each node is over 15 minutes from the last block, send out a request to other nodes to confirm that they too agree it's been over 15 minutes, if there is a consensus among say 60% of the nodes that the time since the last block was over 15 minutes, then temporarily reduce the difficulty until the next block is found; then it goes back up to where it was.
37 damn minutes without a block... waiting... waiting... waiting... still nothing.
Am I the only one? Lol
Yes.
I have charged kraken 3 times = less than 1 hour (6 confirmations needed).
What should happen is if a block takes more than 15 minutes to find, the difficulty should temporarily plunge.
Also, how can that be implemented without a central time server?
Considering that the algorithm relies 100% on randomness, if you hate it then you shouldn't be using Bitcoin.
For what purpose though? Other than to just be random. This is one of the biggest flaws with BTC and will probably be the ultimate reason that an Alt ends up used by merchants instead.
What should happen is if a block takes more than 15 minutes to find, the difficulty should temporarily plunge.
For mining. The proof of work algorithm needs randomness so that nobody can just start creating blocks every second. Please show me an altcoin that doesn't use randomness at all.
It's a real bitch. What the worst thing is is when it trolls you and skips over your transaction, and you have to wait until the next block
Considering that the algorithm relies 100% on randomness, if you hate it then you shouldn't be using Bitcoin.
For what purpose though? Other than to just be random. This is one of the biggest flaws with BTC and will probably be the ultimate reason that an Alt ends up used by merchants instead.
What should happen is if a block takes more than 15 minutes to find, the difficulty should temporarily plunge.
you can use services like greenaddress.it
your transactions will not be confirmed immediately but they are are protected by both your signature and by a signature they apply when they get your permission via two factor. With this protection, comes the fact that people receiving Bitcoin from you can trust the funds instantly as they provide a 'special' signature to your transaction when you require instant confirmation.
your transactions will not be confirmed immediately but they are are protected by both your signature and by a signature they apply when they get your permission via two factor. With this protection, comes the fact that people receiving Bitcoin from you can trust the funds instantly as they provide a 'special' signature to your transaction when you require instant confirmation.
the problem is not the slowness only, but the recently randomness(i hate that)
Considering that the algorithm relies 100% on randomness, if you hate it then you shouldn't be using Bitcoin.
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this is bad for merchants
For the third time, merchants can and do accept unconfirmed transactions just fine, unless you're selling a car or a house (in which case, the whole paperwork will take much more than the confirmations anyway).
the problem is not the slowness only, but the recently randomness(i hate that), due to those little bit diff adjustment i presume
this is bad for merchants
this is bad for merchants
I find almost every time it's really important I get a transaction confirmed fast it takes like an hour for at least one confirmation. The annoying thing is there is usually three blocks minutes apart before my transaction, then an eternity waiting for the next ones after I make the transaction.
Some exchanges only require one confirmation, in which case it can be fast, but it can take forever for the exchanges requiring six confirmations.
i guess its same with everyone .... we cant really help it neither we can do something to speed it up ...
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