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Title: confirmation time Post by: nathangonmad on April 11, 2013, 06:04:41 PM So I was trying to sell some BTC on localbitcoins.com and the buyer pulled out after I put the BTC into escrow so I need to wait for them to confirm in escrow before we can cancel. This was a hour ago and the BTCs still haven't confirmed. How long does this roughly take?
Title: Re: confirmation time Post by: Ja on April 11, 2013, 06:13:25 PM This site (http://blockchain.info/charts/avg-confirmation-time) tracks the average confirmation time. Do you know the policy for localbitcoins.com for posting your ballance? Sometimes services require at least 3 confirmations before it will show your ballance. This can take some time...
The longest I had to wait was about an hour and a half I believe. EDIT This is some helpful info from their FAQ page: https://localbitcoins.com/faq#how_long_wallet (https://localbitcoins.com/faq#how_long_wallet) if you are still having issues. Quote I made a transfer from localbitcoins.com and it is not showing on the receiving end! Check the address you sent on blockchain.info. It will show you the status of the transfer. Usually one confirmation takes about ten minutes, but it varies. If everything looks all right, you should contact the receiving service. Note that different services require different amount of confirmations. If the transfer doesn't show on blockchain.info or blockexplorer.com when searching with address after 30 minutes, please send contact support@localbitcoins.com and state when you sent, to what address and what amount, and we will inspect the case. Title: Re: confirmation time Post by: nathangonmad on April 11, 2013, 06:17:20 PM Its 3 confirmations, so I guess its the waiting game.
Title: Re: confirmation time Post by: nathangonmad on April 11, 2013, 06:29:19 PM Still not confirmed = /
Title: Re: confirmation time Post by: nathangonmad on April 11, 2013, 06:43:48 PM https://blockchain.info/address/1Hn5jiyaPpxpM8s7G69AvXYTqhu71LsxvA
Is there something wrong? This is it and its been like this for 3 hours now. Why isn't it confirming? Title: Re: confirmation time Post by: Ja on April 11, 2013, 06:51:44 PM It just hit 3 confirmations while I looked at it, check your balance now.
There must be a lot of bitcoin moving through the network if it took this long. Title: Re: confirmation time Post by: Derechef on April 11, 2013, 08:10:26 PM Are transactions slower when there is a lot of transactions going on at the same time?
Title: Re: confirmation time Post by: Ja on April 11, 2013, 08:15:30 PM I believe the traffic would affect the speed (I'm not sure how much though). This cool graphic (http://spectrum.ieee.org/img/06Bitcoin-1338412974774.jpg) shows a flowchart of how coins actually get transferred within the network.
Title: Re: confirmation time Post by: sauna on April 11, 2013, 08:19:25 PM Confirmations occur as new blocks are found, which can vary a bit.
If you want to see where your transaction is use this site http://blockchain.info/ You can search by the destination address or the transaction hash. Title: Re: confirmation time Post by: Abdussamad on April 13, 2013, 10:47:45 PM This site (http://blockchain.info/charts/avg-confirmation-time) tracks the average confirmation time. How many confirmations is that tracking? Time till one confirmation or 6 or what? Title: Re: confirmation time Post by: DannyHamilton on April 16, 2013, 10:47:30 PM This site (http://blockchain.info/charts/avg-confirmation-time) tracks the average confirmation time. How many confirmations is that tracking? Time till one confirmation or 6 or what? Based on the values, it looks like average time to first confirmation. |