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Title: Does transaction speed decrease as difficulty goes up Post by: btchaver on May 16, 2013, 09:02:00 PM I know this is a dumb question but i was just wondering if transaction speed decreases as difficluty goes up. No is my guess because mining coins shouldnt affect the transaction yet it seems as though it might. Can someone please verify this and explain to me how exactly if the speed of transactions increases or not with hashrate or difficulty. SOrry for asking such an ingorant thing.
Title: Re: Does transaction speed decrease as difficulty goes up Post by: coastermonger on May 16, 2013, 09:06:15 PM no, the difficulty adjusts so that the blocks are found at a consistent rate. Transactions still happen effectively instantaneously, and they are confirmed at a rate roughly once every 10 minutes (albeit with a high degree of variability)
Title: Re: Does transaction speed decrease as difficulty goes up Post by: btchaver on May 16, 2013, 09:13:02 PM no, the difficulty adjusts so that the blocks are found at a consistent rate. Transactions still happen effectively instantaneously, and they are confirmed at a rate roughly once every 10 minutes (albeit with a high degree of variability) so why am i having so much trouble sending .1 or .2 btc via blockchain i am getting a message saying unconfirmed transaction?Title: Re: Does transaction speed decrease as difficulty goes up Post by: coastermonger on May 16, 2013, 10:04:15 PM I'm guessing you're not including a fee? That's fine, but if not it has to wait until it's picked up by a miner that will process fee-free transactions. This can take several hours.
Title: Re: Does transaction speed decrease as difficulty goes up Post by: btchaver on May 17, 2013, 03:58:37 AM I'm guessing you're not including a fee? That's fine, but if not it has to wait until it's picked up by a miner that will process fee-free transactions. This can take several hours. I am including a fee and it took 2 -4 hours and from mtgox to blockchain it takes 10 minutes not even sometimes 2 seconds its incredible but with sending somewhere else it took like 4-7 hours so long. and how much should i include for the mining fee what is appropriate. I used mtgox miners fee as an example to make the transaction. Title: Re: Does transaction speed decrease as difficulty goes up Post by: Abdussamad on May 17, 2013, 02:24:33 PM no, the difficulty adjusts so that the blocks are found at a consistent rate. Transactions still happen effectively instantaneously, and they are confirmed at a rate roughly once every 10 minutes (albeit with a high degree of variability) Please don't exaggerate. I have made a few transactions and most of them took 20 minutes till first confirmation. Title: Re: Does transaction speed decrease as difficulty goes up Post by: DannyHamilton on May 17, 2013, 04:22:27 PM no, the difficulty adjusts so that the blocks are found at a consistent rate. Transactions still happen effectively instantaneously, and they are confirmed at a rate roughly once every 10 minutes (albeit with a high degree of variability) Please don't exaggerate. I have made a few transactions and most of them took 20 minutes till first confirmation.There was no exaggeration. Confirmations can come in seconds, they can come in hours, but it is completely accurate to say: "they are confirmed at a rate roughly once every 10 minutes (albeit with a high degree of variability)" |