Bitcoin Forum

I just made couple of transactions ,and all transactions take up to 30 minutes to get first confirmation,so I am thinking even the first confirmation take so much times , will that means Bitcoin is not a good way to do payment?

And I notice that the vitality of the Bitcoin network,actually,is weaker than before ?why ? Because many miners dropped out?

Congratulations on your bitcoin transaction.

What fee did you pay for the transaction?

When I swipe creditcard at the store money doesn't leave my account until the next day.

I guess I should wait a full day to get that candy bar then.

It takes at least 6 months for a non-refundable transaction.

13 months in some cases!

It would take at least 30 hours if you want to wire transfer at a bank, 30mins is extremely quick if you ask me.

30 minutes is not too late. If you want them quickly then add more miner fee.

Wrong comparison. Theyre will be somone responsible for that mpney u paid to get that candy of yours. But no one responsible in bitcoin.

Except yourself, that's the whole point of it. No one controls YOUR money!

If you swipe your credit card, the credit card company should provisionally debit your account the amount of the transaction before it is finalized.

After the transaction is "finalized", you as a consumer have 60 days from the time you receive your statement (for a total of roughly 90 days from the time of the transaction) to dispute the transaction. From that time, there is an unknown additional time the bank has to forward the dispute to the merchant, however the bank has 30 days to respond, or if they cannot complete their research within that time, they can extend it by an additional (I believe) 45 days).

Even if a dispute is successful a merchant is still able to take legal action against a consumer if they received goods/services but did not pay (because of the dispute), although this is very costly

Just the other day I was watching the blacklist and some guy made double transaction using btc in 5 minutes... Is it only possible in the TV.

Was he buying a candy bar?

To do a double spend you set up a transaction on the other side of the world and set up your transaction. When you do your current transaction you quickly process your transaction on the other side of the world.

The transaction is grouped in among miners on both sides of the world, whichever miner gets that block will be the successful transaction. Once it sees that that transaction already occurred it will be dropped.

After the first 10 minutes it is pretty much set. But it is just about mathematically impossible after 60 minutes.

Seriously I'm just wondering is it due to the codes or how it is supposed to work that way or is there the common factors like miners issue. It can take 5 minutes to receive first confirmation but sometimes it drags until half an hour. Just what are the variables that cause this inconsistency

It could be due to any number of factors. If you didn't send it with a fee, it may have taken some extra time to process.

But don't rely on blockchain.info it shows "No Transaction Found" but actually your transaction is processes and being confirmed.
Just check on other block explorers too like btc.blockr.io

Finding blocks is a random process. Random processes, by their very nature, are not regular, so there is no regular interval between blocks. Instead, the difficulty is adjusted automatically by all miners so that 6 blocks are generated per hour on average.

Onkel Paul

You have pay more fees if you want a quickly confirmation, it depends of many things.

No.

http://btc.blockr.io/block/list/

327489    2014-10-29 11:44:39
327488    2014-10-29 11:01:10


generation of block is variable ... like the demand and offer on bitcoin.

but block generation median time is rock stable : https://bitcoinwisdom.com/bitcoin/difficulty -on the left-

1 block: 9.8 minutes
3 blocks: 29.2 minutes
6 blocks: 58.5 minutes

it may depend on the site where you play. I never make transactions even in less than 1 minute. so bitcoin still okay I guess

I think you set the fee low while the tx size is high, so confirmation time is long
Usually if you use default fee (0.0001 BTC), confirmation time only 3 - 10 minutes

If you use online wallet, let the wallet set the fee automatic
Or you can set higher fee

The median time it takes for the miners to find new blocks is far from this stable. It can sometimes take the miners over an hour to find one additional block, or three or four blocks can potentially be found within a matter of a minute or two. You really need to look at much longer periods of time in order to get an accurate measure of average block confirmation times

It's miners refusing to add your tx into their mined block.
Attached fee too small ~~

Someday, the off-chain mode walllet service will make the tx instantly without any delay.

There are already a number of wallet services that can do this for you. Coinbase is probably the most popular one, however you can also use things like ghash vouchers or btc-e codes to get the effect of an instant confirmation.

Realistically however, you can look at a TX and know relatively quickly that a TX will confirm or not.