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Topic: Will Bitcoin get faster transactions like Litecoin? - page 4. (Read 3381 times)

hero member
Activity: 1106
Merit: 521
I know how disappointing it is for having to wait around 15 to 30 minutes for a Bitcoin transaction to get confirmed by the network. But I think faster transactions could be achieved if devs decide to improve the code. Just look at Litecoin, Dogecoin, and Ethereum. They have faster confirmation times and some good features. I have no doubt that Bitcoin will be improved in the near future and it will remain as the top crypto currency.
What do you think about it?  Smiley

im not sure your understanding how crypto currencies work, to change the confirmation time of Bitcoin would be to change Bitcoin, which would probably destroy it at this stage.  there are a set amount of Bitcoins to be created on a set time scale, with each confirmation.  Every 10mins 25BTC and after (roughly) July 2016 every 10 mins 12.5BTC and so on halving every 4 years.  

Can you see how lowering the confirmation time would be detrimental?  it would need to either create more Bitcoin or some confirmations would not create any bitcoin which miners need at this stage to reward them...... litecoin, dogecoin and ethereum are all set up with vastly greater amounts to be created.  For example litecoin confirms i think 4 times faster but also is set to produce 4 times more coins.  dogecoin and ether dont have any limet on the coins created as far as i am aware, all tho i do stand to be corrected on this one.  

21,000,000BTC is all that is ever going to be created, this is what makes each bitcoin valuable and scarce.

i find it really strange that someone who is a full member on bitcointalk dosnt understand this Huh Huh Huh confirmation times on bitcoin will never be changed
legendary
Activity: 3220
Merit: 1363
www.Crypto.Games: Multiple coins, multiple games
I know how disappointing it is for having to wait around 15 to 30 minutes for a Bitcoin transaction to get confirmed by the network. But I think faster transactions could be achieved if devs decide to improve the code. Just look at Litecoin, Dogecoin, and Ethereum. They have faster confirmation times and some good features. I have no doubt that Bitcoin will be improved in the near future and it will remain as the top crypto currency.
What do you think about it?  Smiley
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