Bitcoin Forum

So at 2011 you can easy send 1 BTC Because price was too low

how long did it take for every  transaction  need to be confirmed

I think same like today - 10-30 minutes.
Power of protocol is rising proportional.

I was not there in 2011, but I know some people that did transactions in the early days, and confirmations were not relevant. 0 confirmations were safe because of the lack of interest and resources put into a potential double spend attack, so you could instantly receive the coins and then spend them.

People like Roger Ver falsely sell the narrative of this being taken away by Core devs because they refuse to  raise the blocksize, what they don't get is the fact that 0 confirmations will never be safe again, and they were never intended to be a viable way to safely spend coins, even satoshi said so.

Exactly, things have slightly changed from then. For now, with zero confirmation, transaction most likely won't be activated as you have to exercise patient a bit for a more liable access to transaction.

Yeah the world of bitcoin changed a lot specially its trading price. For in the first that bitcoin wasn't that priced yet maybe people just ignored it. But now its a big in price. People who stored it for a long time were so lucky now that it was big in price.

Which is why we must expose on a daily scammers like Roger Ver and Craig Steven Wright aka Fake Satoshi, which are trying to brainwash people into thinking 0 confirmations aren't safe because of the blocksize being too small.

Just for the record, Satoshi vs FakeSatoshi:

http://image.ibb.co/fFuWJ6/fake_vs_real_satoshi.png

if in 2011 ago indeed including easy every time transaction dude but the problem is often in thank is the price bitcoin still very low and make income earned the bitcoiner also still not maximum and make a difference to be upside down in the year ahead continues increased significantly.

So why in 2011 you can send with fast speedand 0 conformed without problem but not can’t

and how how fee?

As far as I remember every transactions that time still requires confirmation but the significant difference is that sending fee is very cheap and transaction tikes are almost instantaneous. I can send using the minimum recommended fee which is 0.0001 BTC for fast transactions and cheaper fees if one doesnt want his transaction to be confirmed within 10mins. Still, the longest time for my transaction to receive confirmation that year is 30mins even if I am using cheaper fees than 0.0001 BTC.

That’s a lie, you’re totally wrong.
I got into Bitcoin in 2015, and as of then, every transaction made is received instantly in few seconds and it is confirmed in few minutes. Every Bitcoin that is being sent to me was received in a second. But these days, it takes up to 10 to 15 minutes for a high priority to arrive. Low priority takes forever.

You would be still needing a confirmation on your transaction, even more then one confirmation( because the network power was significantly weaker , it was much easier for someone to double spend, so 6-7 confirmation at 2011 equals one confirmation now days.

The big difference was the fee you pay for the miners, because there were not a lot of transaction at that time, you could be simply broadcast transactions with 0 fee and they would still be included and the next block( blocks were empty, so no reason not to include yours).

Miners were basically earning only from block reward.

I think in 2011 there are a bit lower fees because it was new. You got also many bitcoins when you were using 2011 so maybe the fees were 1 bitcoin for 1000 bitcoins that you will be sending.

The time was so fast in 2011 it was nearly instant for me i know a friend who was using bitcoins in 2011.

Why go back in time? We need to look back and do better our future. Now I see that bitcoin needs constant upgrades. I have nothing against miners, but they show their inability to agree. This is bad and eventually can destroy bitcoin. I do not believe that it is impossible to come up with a mechanism in which everyone wins.

Nice thanks for that comparison, I hope that the real Satoshi Nakamoto will come out and give these fake ones that are trying to destroy bitcoin a lecture on what's good and right thing to do and also what is the wrong.



I didn't catch up on 2011 but on 2015 I agree on this.
I made some transaction before and it's totally in an instant and things go wrong because of the congestion and widely spread popularity of bitcoin.

I only start mid 2017 and the confirmation of transaction was based on the choosed transaction fees, and i feel that it is too expensive since i am earning small amount of satoshi every week. And also i think because the huge value of bitcoin that is why the fees continues to increase.

Transaction throughput before still needs confirmation and my guestimate is that around 30 minutes or less is the average or not the fastest time that your confirmations get it. And the only difference as of today is the fee. Before its really cheap because bitcoin hasn't gain widely acceptance that time, however today there are a lot of users that's why you need to pay higher fees plus the difficulty to mine a block is also difficult as compare to 2011.

Was there any significant difference? I mean, i haven't as well been dealing with btc that early but he probably would be hearing people who did back then screaming about the changes if ever there were. And btc was not that prominent then to warrant that much attention

I think its the same as now although there are more people and services that accepts bitcoins today.

you can send up to 10 bitcoins within 24 hours of your transaction will be processed in seconds.
 

If we look at the graph of the bitcoin since the time it was introduced to this world, then we’ll get to know that bitcoin has no doubt earned lot of good name with each passing day. In addition to this, the market price of bitcoin as well as number of investors who are investing in bitcoin have been increased significantly. Bitcoin is no doubt making a very good reputation then it was having previously.

Currently each BTC transaction needs 6 confirm can be completed, the average loss of 20-30 minutes with each transaction only. I feel good because of the high security   8)

Yes, in 2011 bitcoin was present but it was not well developed at that time and only few people knew about it. Most of the people didn't  believe in bitcoin and its demand was not very much. With the time it get developed and people started using it and it gave them a very good profit.

With time the demand of bitcoin will also increase along with its development, so the future of bitcoin looks bright and also its price may increase as well.

10-30 minutes each time a transaction.

i think nobody here are being the witness when bitcoin at 2011 so we maybe only can estimated it but probably not so diffferent just like now it took 30 minutes to reach first confirmations but possibly too will more faster because at that year bitcoin transactions was rare and not massive just like now

Nope, I don’t see anything that seems to be the same as of today speed of transaction compared to that of 2011, because back then, I remember that Bitcoin arrives within seconds to the receivers wallet than it does now.

I was still a newbie as of then, and all the Bitcoins I sent and received were handled instantly (I’m not sure of confirmation, all I know is that it has a faster speed) this time transaction on high priority takes up to 10 or 15 minutes, and low priority is forever and ever.