Bitcoin Forum

I wanted to see what all this BTC was about from watching videos I was told the transactions were instant and that this would be the currency of the future... well I am kind of disappointed come to find out that it is in fact not instant... I have been waiting over 4 hours for this transaction to confirm to play some poker and by that time I can't even register to the tournament I wanted anymore because the priced dropped and the tournament is over.

Puuuurfect...


And not only that but the fees you need to pay just to send a little amount makes it really impractical and I doubt this will be considered a currency anytime soon unless something changes.

Using Bitcoin in the poker world or sports betting will be the norm soon I think, but what you say is correct, fee is becoming a problem, and when you are looking for a quick deposit to a website, you will need to pay more fees.
By the way, I am not sure if you used a service like Advcash top up, or did you send a manual payment? If the latter, the delay could also be due to the poker website which needs to credit your account manually, once they receive the transaction? Just a thought, I think the problem could be that. Just contact their customer service to know if Bitcoin payments are credited manually or automatically by their system.
Otherwise, 4 hours is a bit too long I think. Last time I send a payment in Bitcoin to Fairlay, it was credited withing an hour.

Maybe when you transfer the account, the block is more congested. This is also where bitcoin is needed to improve. Sometimes it takes a long time to extract bitcoins. I once extracted bitcoins to my wallet on the exchange, and spent a whole day in debt, which led to a missed investment opportunity. :(

A transaction is technically instant; confirmations are just verifying that you're not trying to double-spend and confirm for the rest of the network that it's gone through with no issues. Companies can set it for 1 confirmation, 0 confirmations if they want to, but those are security risks.

And the fees haven't been this high in a fairly long time, I'm surprised that they are this high in a way but at the same time it makes sense they're high because everyone is trying to get involved is also trying to push their transactions through.

But hey, if you don't want to us it that's fine. The rest of the marketplace can agree or disagree however it wants.

Bitcoin is good for HODL right now but nothing else. Transaction fees are insane for any regular joe like you and I. If you can stick to alts like Litecoin for that kind of stuff because transaction fees are much lower and they can still be valuable.

I learn BTC from my friend, first learn he teach how upgrade the position. After that i try to do posting everyday.
And next he tell how do get a job from signature campaign, he teach me step by step. Next I can do by myself.

Similar situation to my experience but it was a relative in my case and he had a mining rig in his room that he showed me and then I became interested after seeing how he makes money by not lifting a finger.

I do not who told you about instantly sending/receiving ; but I think it is very logical that transferring coins take some time to be loaded ( X number of confirmations ) and concerning fees ; I do agree with you; they are relatively high ( especially when we compare'em with small amounts that we want to transfer ) I think it's one of the major inconvenience of this crypto

Like it or not I think it is hard for a token such as Bitcoin to be worth $10k+ and have low transaction fees. I also do not think this is a problem as there are off-chain scaling solutions being worked on and there are lots of other cryptocurrencies one can use at many places. You also have the option of paying a bit higher fees, as still paying $5-$10 to transfer $10k someplace almost instantly isn't that bad. Try using Western Union, your bank, or Paypal to transfer large sums and you will be socked a lot more in fees.

As far as those $5.00 coffee purchases, learn to use cash or keep you bank card or phone bank app handy. I don't think Bitcoin is going to replace those services anytime real soon for the small everyday purchases. Too many people think it needs to be an all or nothing solution implemented right now. The current banking system took years and years to get where it is at, while Bitcoin has only been around for less than 10 years. Give it some time to grow and develop and if you dislike it so much you can always stick to the traditional banking system.

It is not that hard for Bitcoin to get over that price...I don't know what you're talking about.
There is a lot of people that want it.

What are you talking about? I never said anything about it being hard for bitcoin to be worth over $10k, I said it is hard to have it be worth that much and at the same time expect the fees to stay low. Moving $10k in any other system will cost you probably $50 in fees, so even paying $5 to make the transaction move faster (which the OP was talking about) is still not a bad deal.

Exactly that's the main objection i have about crypto-currency. On one hand we advertise that it is the safest and fastest future way for money transaction and on the other hand we have to deal with this kind of delay. Well to make you at ease people at blockchain development projects are working hard to make transaction fast by increasing blockchain size and increasing computation capabilities.

No one uses bitcoin to make transfers now, ETH is already much faster and cheaper

lol, I just woke up and my transaction still doesn't have any confirmation it has been over 10 hours now, i'd like to have my btc confirm sometime this century if possible.

How much did you sent and how much you paid for the fee? Before transactions are instant but because of the growing community of bitcoin and there are too many people that are transacting and it cause the network to traffic so miners need to do something about it on whoever will pay the highest pay will be put in their priority queue. While those low fees will still confirmed but don't expect it will be early.

Well, it is not btc fault, you are dumb as HELL.

Why didn't you made a little research before sending money? Bitcoin is taking more than 40 minutes to receive the first confirmation , if you dont put fees higher than $4 your TX will get stucked for more than 4 hours.

Probably you putted $1 worth of fees, and that is the reason of why you have been waiting so long.

If you dont know how a system works, then why do you use it?

And yes, no one is using bitcoin to send transactions between $10 and $50, because the fees are a good % of that.

It was a roller coaster for me when I entered Cryptoverse. I started few months ago. First, I invested in Electroneum during the ICO then suddenly, I was introduced to this lending platforms. I am a little bet hesitant but since I am a risk taker, I invested in it hoping it will stick until the end. I was able to learn from you tube bloggers and friends. I started to increase other social media sources and used in the Cryptocurrencies. At first, I thought that Facebook is the main medium but turned out to be the least one. I started subscribing to bloggers, updating my Twitter and then Creating new account in Telegram, Discord and other media sites. My mind was blown on how wide is the world of Cryptoverse. Before entering bitcoin and alt coins, I am a trader in stock market. It was nice but money is slow and the hype and dump market is not my type since I dont have resources to keep up with the whales in the market unlike in Cryptocurrencies. I entered bitconnect though I still not like the secrecy behind their platform. As a risk taker, I wanted to lower the risk of lossing all my investment in one platform thus I took every profit from my Bitconnect and wanted to invest on other ICOs. I came from the stock market and from my word it was termed as IPO or Initial Coin Offering.Initial Coin Offerings spawn like mushrooms everyday. The challenge is to look for those ICOs with promising returns. The number risk in these ICOs is exit scams. I started to invest in UTrust and Crypterium and Inda Hash. At least I have Electroneum which I thought will give me fast returns due to too much hype. I realized this ICOs are long term investments and not short to middle term thus started to look for those faster medium until I stumbled with Hextracoin. It was next after Regal Coin. I was amazed on my friend's ROI in Regal thars why I opted to take some from my BCC earnings and put it to Hextra Coin. Unfortunately, after 30 nights of attempting to buy the ICO for this new lending coin I failed miserably. My coin was stucked in their platform and unable to withdraw for several weeks. I thought I was scammed until they reopened. I was very insulted in not being able to buy some. If I was able to buy my 240 $ dollar investment would have been 40X by this time of writing and will be more this month. It was a big failure but did not stop only on that. Another Lending Coin ICO whom I joined named ELektra Exit Scammed on us followed by Nex Coin. Whats worst is because of my frustration in not being able to buy in Hextra Coin ICO, I went all in Elektra Coin hoping to gain more money. I had to learn to take on the loss. It took me a week to accept and move on. I continued investing on upcoming ICOs until I got a jackpot on my new ICOs. I dont want to Jinx it so I will keep 3 new successful ICOs in my mind. Hope was restored. I did a good job in diversifying to control the risk of being scammed. I took everything as a lesson and I am moving forward. I will be investing more. By the way, I tried trading in Bittrex and was unsuccessful even though I joined Pump and Dump groups im Telegram. I learned another big lessons not to be involved on them again. They usually buy first then Pump the coins, as it goes up they dump it so that they earn while you loss yours. Please, avoid those groups and learn to trade the right way. Wait the tide and the waves. I am now sleeping less than before and watching you tube reviews and news more ever than before. I love this job and I am going to invest here until I am able to earn what I am earning in my Job. By that time, I am going to quit and do full time on this business. I have too many things to learn and I will learn as much as I can. I am negative profits at the moment but I have positive feedback and earning is coming soon. I am waiting for it to appreciate before I reap them. To all, Caveat. Always learn to control your emotions but always avoid risks as much as possible. If you take a risk, make sure that it can do big returns to worth of the risk. Diversify your portfolio. Learn FUD and FOMO rules and due deligence always.

Welcome to the club in that the reality is always different from what its painted to be. But in all fairness, you weren't here during the good old days when the confirmation is almost instant but now with so much traffic on the network, its making it seems impossible. For your quest to use it, its obvious the game would be over but you can leave it there on the wallet if its not much so that you won't be in the same dilemma in case you want to bet on another game. I guess that's what we have yo live with until there is a solution to what is being faced currently.

Yes, and the main problem is the fees and the delayed time of transactions, you should put enough fees to get your transactions confirmed very quick, unless you should use ETH, because you can pay less fees and also the transactions is immeditaly confirmed.

First of all Tamil actress se that even 1 year ago people do not worry about paying some big transaction fees because they do not even worth $1 and they are 10 times smaller than banks transaction fees so the transactions are almost instant but during this year send the price reached $10,000 then those transactions these became a lot more valuable then before and now people are saying the same transition fees but they are worth more in the real world. It all matters on the developers now there trying to fix this problem so we can pay even less transaction fees for transferring Bitcoins. And by the way Bitcoin transaction is instant is the confirmation you have to wait for just to be sure that no hacker hacks your money.

Hey man this is a really long post and super informative. Thanks for your contribution to the forum! By the way, I share a lot of similarities as you in your journey with crypto. I was scammed by one of these so called mining company sites that in fact is just a Ponzi scheme. I did not lose  alot of money though, thankfully. It could have been much worse.

Yes these are the current issue related to bitcoin, but i am hopeful that such issues will hopefully be overcome very soon. In future we can expect that bitcoin will become more updated and all the issues which are now creating problems for its users they will surely be overcome and we will be enjoying using bitcoin in a more good way.

i learned bitcoin from my friends on gr in fb, at that time i saw bitcoin posted up and i started learning and finding out to make less income to cover life. And I have earned money from bounty campaigns

I think you are right. High fee with small transaction and longer transaction waiting to confirm are the main reason why bitcoin can not be future currency.
I think and i prefer bitcoin as investment only. So i take profit from price movement.

If Bitcoin has problems like this eventually an altcoin will take it's place and become the new Bitcoin. Unless bitcoin can iron this out I don't see Bitcoin being used for smaller everyday transactions. I still use Bitcoin when I spend over $50 then it's worth the fee but less then that and I may as well not even buy what I want or I simply charge my account I'm using to shop with using Bitcoin and the I use the recharged funds as I please.

And what's the point in holding if Bitcoin is not usable for transactions? Makes me wonder when I read your post (no offense).

if you want real experience about bitcoin try this site and learn who to earn / exchange bitcoin with low fee and trusted way then start making money from hold/invest bitcoin and finally share us your story.

I agree with you completely being upset with your experience with bitcoin. Yes, there is a problem in scalability of bitcoin at the moment fees are going parabolic and transactions are taking ages to confirm. At the moment bitcoin is not ready to be accepted as a currency at all most of the persons investing in bitcoin considers it a  store of value and investment to increase their wealth.
So whenever you do want to transact somewhere using bitcoin try adding more fees it helps to confirm the txn faster.

I think that most of us who are involved in bitcoin issues are sufficiently informed about these limitations because it is not something new, so I do not see the need to result in these criticisms. Like it or not, bitcoin has lost its functionality as a daily currency and is now basically a store of value. But that should not worry you too much, if the casino in which you wanted to bet does not accept other cryptos as a means of payment, it is certainly a bad casino and you should look for more versatile options because now there are many casinos willing to accept altcoins more convenient than bitcoin .

My journey with Bitc has not been that profitable as of the moment since I quite just started. But I am definitely gaining lots of knowledge while being part of this system. I believe we need to get the tools first before getting into the inner parts of things...😁

So far my experience with bitcoin is absolutely incredible. Since they are my hero which helps my life become convenient and easier in all aspects;
because of this I can save more time which I can spend in my personal activities.

My experience in bitcoins is awesome. They give an opportunity to earn money in legal way without spending too much effort for it. At the same time they help my life become easier and more convenient.

Ok, I am a big optimistic when Bitcoin is concerned, but yesterday I paid 13 USD to send a payment. This is worrying... what if next year the standard fee to send a quick payment is 20 USD? or 30 USD?
Something needs to be done...

Bitcoin is not designed for small payments, that much was obcious from the start and discussed by devs including Satoshi himself in quite a bit of details. Now when it costs a lot of money and has large transaction fees it's more like digital gold (you don't pay with gold usually, don't you?) than a day-to-day currency.

maybe the system is maintaining, so it keeps you waiting, or the bitcoin sale and purchase transactions that make the system slow. and I think you should be patient at such a moment.

I heard it from my friend...i have seen many video from youtube and i am still learning to get a signature campaign job so that i can earn more profit....

Well I cannot disagree here, for sure I will have no problem buying a car with my Bitcoins even if I need to pay 50 USD fee. But the initial idea of Satoshi Nakamoto was to use it as an online payment only and for any service, not only high prices. even my flight ticket to go back home once a year cost me approximately 1000 USD, it is not cheap, and a fee of 30 or 50 USD will represent 3-5% of that, not too good all things considered ;)

the transaction of the bitcoin are also fast in these days , since I faced the problem today that is technical problem we can face in any service , and also in case of the games of gambling if you are facing the problem of confirmation then surely I would like to suggest you to change your Gambling site like to. Go for the cloudbet or nitrogensports.eu etc where you will get deposit without the need of the confirmation .
And also you can see that bitcoin is not only made for the Gambling for which you making it responsible for the problem that you are facing , here already the team of the bitcoin is making new new improvement in the bitcoin technology with hard fork that is Making the bitcoin more better and hopefully they can make experiment of making double the block from 1 mb to 2 mb , so your problem will solve after this experiment , since they were thinking to to this exoer this year but due to no full support of vote to do this change they postponed the idea of change in technology for next time .