Bitcoin Forum

Can we still say that bitcoin transactions are faster?
I have send some of my bitcoins to an address and about one hour has been passed but still there is not even a single confirmation.

what do you say about the transaction timing?

Yea somtimes it take long time to get confirmed even with 0.0005 fee
and also fee of sending bitcoin is too high when we send small like 0.001 with fee 0.0001 it take 10% of it

Faster compared to what?
money transfers within the same bank => probably not
money transfers between two banks in the same country => don't know
international money transfers => yes

The fee depends on the size of the transaction, not the amount of coins being transferred. It also depends on the amount of unconfirmed transactions and the fees that were added to these unconfirmed transactions, the miners usually add the transaction with the highest fee to byte ratio from the unconfirmed transaction pool, so you'd better be in this category if you want fast confirmations ;).

In order to speed things up next time, you might want to check : https://bitcoinfees.21.co/
Calculate the size of your transaction in bytes, multiply by the fee the is recommaned by this page, and maybe round up a little bit, and you'll have a reasonable chance of getting added to the next block (not 100% tough!!!).

Also, keep in mind that the average blocktime is 10 minutes. This means that some blocks will be found faster, others will be found slower. It is well possible for a transaction to be added to a block after only 1 minute, while an other transaction takes 20 minutes, but they're both still added to the next block.

Maybe not, for now. Some in my transaction take a long time to reach a block confirmation. Some system in bitcoin needs to solved. Bitcoin needs to upgrading their system on confirmation, especially for bitcoin wallet providers.

You forgot to mention cash transactions. Zero fee. Instant. :)

Cash transactions are dangerous IMO, bitcoin transactions are the fastest, @OP if you need your transactions to get confirmed faster, then pay a larger fee

Dangerous? Most of my daily transactions are cash, have been since I was a kid.
Was mugged once. Would have lost far more if used BTC, would have given my priv. key for sure.
Because am a wimp, there were three d00ds, and one had a popper.

i dont think that the bitcoin is really fast paying method there are allot of other paying methods and they all go really fast i think it only are going slow if your internet connection is bad other things does nothing.

YES.
you can still say that bitcoin transactions are faster than anything else. if by transaction you mean sending bitcoin and the other address receiving it (seeing on blockchain) it takes couple of seconds.

but what takes time is the confirmation, and zero confirmation isn't usually a bad thing. and double spends are still rare.

You said nothing about the fee that you paid.
You said nothing about inputs or outputs of the transaction.
You haven't shared the transaction ID for anyone else to look at the transaction.

Therefore, it is impossible to make a value judgement on your statement.

I've never had a transaction take more than 3 seconds to transmit and be received, so yes reasonable transactions are still very fast.

It has always been true that confirmations require blocks, and that blocks occur on average once every ten minutes.

Ten minutes "on average" can result in a block within a second, or an hour-and-a-half without a block.

In many cases, confirmations are not necessary.  When they are necessary, the security that results is typically worth waiting for (either worth it to the sender, or to the recipient).  The more important the confirmation is to the sender, the higher fee they should pay to ensure that they don't have to wait more than one block.

If you sent a un-reasonable transaction (dust outputs and/or insufficient fee), then you set yourself up for failure, and are only complaining about your own inability to properly use the system.

If you sent a reasonable transaction, then the recipient feels that they need the security that comes with a confirmation and you accepted that requirement when you chose to transact with that recipient.

It seems that a lot of members do not even know the difference between a confirmation and a transaction. As soon as the network receives the transaction, i.e. the other end holds an unconfirmed amount, your TX has arrived. This process is near-instant for Bitcoin. Besides, if you include the adequate fee then your TX will confirm (on average) in 10 minutes.

FTFY. Money transfer within the same bank? Unless you are talking about changing a few numbers within their database, then this process takes time. As an example, look at Visa purchases. They take quite a lot of time to clear, even though it seems that they are instant to the user (e.g. while purchasing at a counter).

Your thinking is completely wrong.

This. To add to this: I've never had a TX take longer than 10-20 minutes to confirm (excluding unusual block timing).

Not sure what you mean by "reasonable." You never had to wait for (at least one) confirm?

Man, that's a long time you have to wait. I don't know maybe I've made not enough transactions to be the judge here, there were around a 100 of them, but I have never experienced such a delay. Normally it takes 5-10 minutes even with the transaction fee as low as 0.0001 BTC.

I would say that your fee wasn't high enough. Please post the TXID in OP and we'll have a look. You can always check https://bitcoinfees.21.co/ (https://bitcoinfees.21.co/) to see if you've got an appropriate transaction fee for that day.

They are a sort of fast but its really laying at the fee's when you are paying these days, it really makes me angry sometimes..

It depends on the time or timing, sometimes many transaction is happening. Blockchain is always the problem. They use to get some error sometimes

Possibly a reasonable number of inputs and outputs (i.e. total size). A transaction that is, e.g. 900kB big is not usually reasonable.

There's nothing to be "angry" about. This is how the system was supposed to work; you shouldn't expect free transactions (although it was possible in the past).

Wrong. You are most likely confusing blockchain.info with the Bitcoin blockchain. These are two separate things. When there are blockchain.info relevant errors, only blockchain.info users are affected; i.e. Bitcoin remains functional for everyone else.

The title of this thread says nothing about confirmations.  Just transactions.

Transactions are VERY fast.  They rarely take more than a few seconds.

Confirmations are not transactions.  Confirmations can take longer, but they often are not necessary.

When the sender or recipient of a transaction requires one (or more) confirmations, it is either because they don't understand the purpose of confirmations, or because they feel a need for the added security that a confirmation brings.

I've engaged in transactions where either I or the other party felt a need to wait for one (or more) confirmations, but all parties were aware of that before engaging in the transaction and everyone understood that it could take more than an hour per confirmation. I've also engaged in MANY transactions (both as sender and as recipient) where neither party felt a need to wait for confirmations.

Bitcoin as a payment system can be fast or as slow depending on the particular requirements of the parties involved in the transaction. If you don't want to wait, then don't engage in transactions with entities that require confirmations.  If you want to engage in transactions with entities that require confirmations, then you need to understand that you could be waiting more than an hour per confirmation.  Complaining about it isn't going to change it.

Cash cannot compete with Bitcoin as a digital payment method for eCommerce. Try paying someone with cash in another country, and see how long you will wait for the postal service to send that money

through the postal service.  ::) ....Remittance serves were supposed to solve that problem, and they still struggling to get it right... If and when they do, you pay a premium fee for that privilege to transfer

that value. Bitcoin does this with limited fees, and at a relative speed, depending on the size of that fee. 

bitcoin transactions are very fast. just add 0.0001 btc fee per kilobyte and it will confirm in 15-20minutes or even faster than this. if it is not confirming then we can say that u have not spent enough fees.

actually sometimes i get my money that is sent form one wallet to other pretty fast, in 10 second mostly with average fee, but sometimes when i send to different wallet, it takes hour or more

and i usually send pretty large fee to send my money fast, if i send 0,02 for example i play like 0,001 so this is pretty a lot but it still takes some time for some transactions

In that case, dropping a check in the mail is the fastest way to transact. True, Grammy won't be able to spend that money until she gets the check, sticks it into her bank account, and it clears, but hey, if you want to be excruciatingly literal, there you go :)

To be honest, none of the places I shop online accept BTC either. So sorta moot.
And most of my "transacting" happens in the meatspace, in brick&mortar stores, offline. I'm old.

when compared with the others, of course. pembayan bitcoin can still be said to be fast, because it only takes a short time for it, but maybe most people have problems at the time of confirmation

Bitcoin is about decentralization and security, not speed.
If you want speed, wait for Lightning Network. Then we will have billions of transactions daily without no problems, so don't worry about it.

i just sent a payment and it was received instantly and confirmed within 10 mins ?

I have heard that it is really fast and that you do not have to pay much money to do so. I have never used it before so I cannot really comment to much on this.

lately always take a long time, a couple of weeks ago I transactions using paypal, really faster than bitcoin transactions.

What is the dangerous part of cash transaction? If it is dangerous so there will no Bank or even real money in this word.

Maybe, bitcoin is needed to improve their performance. I agree with you, sometimes if I make a transaction it takes a more time to wait for one block confirmation. It's why bitcoin will have an LN project will make bitcoin transaction without block confirmation.

Sometimes ,cause some of my transansactions  confirms  very fast. ,while others took a day to confirm all the confirmations.
They should be working on how yo transfer btc fast.

for me yes, because once you send bitcoin to another address it is instant , its already on process, you just need to wait for confirmation so that you will be able to see the bitcoin in your wallet. dont get me wrong, but when everytime i have to deal with some, once i see the transaction tx , and the receiving bitcoin in my wallet, even without the full confirmation or even if its unconfirmed confirmation i already give my part in the trade.

too many people are over selling the whole "instant transactions" premiss..

yet due to Malleability, RBF, lack of fee NO ONE should every treat it as "payment received" until its actually confirmed.

there are too many ways to have a unconfirmed transaction disappear
so stop trying to promote bitcoin based purely on unconfirmed transaction times of 'near instant'.

its almost like saying that a fast food restaurant can sell 60 burgers a minute because it only takes 1 second to hand over the burger to the customer..
but when 60 people are in queue ordering a burger, suddenly the restaurant still has a queue of irritated and annoyed customers waiting for a burger well after the minute is up.

so stop trying to twist small pieces of information to then try to suggest its the situation everyone should experience and happily accept.
again no one should be accepting zero confirms. so no one should be using the zero confirm timescales as part of their bitcoin promoting.

if you lemming are atleast honest with people and tell them that bitcoin averages a confirmed transaction within an hour.. people will still be happy..
but saying bitcoin is near instant.. then people find out that the other person hasnt accepted it.. then there are issues.

do not over promise. is basically rule one of decent promotions

Bitcoin transactions have probably been slower for me over the past months since I would usually get confirmations within the first block that appeared if I paid 0.0001 fee, but now, I would have to wait half a day sometimes.

So no, I don't think that transactions are faster in any means.

For me bitcoin transaction is not so fast if you compared to the old ones, Old transaction in back 2012 transaction is more faster than now, And sometime blockchain has a huge problem in transaction

Saying that you've included X fee is pointless. That fee might be adequate for TX A, but might be too low for TX B. What matters is satoshis/byte (which currently stands at 40 satoshis/byte).

Don't blame the network if you can't use Bitcoin properly. There have been no known problems with the blockchain either. You don't know what you're talking about.

Agree, depends on your comparision.
Bitcoin is global, on every aiport in the world you can pay with bitcoin (mobilephone) imagine that.
There is no need anymore for currency exchanges etc. true revolution

Blocksize increase for example with SegWit? It depends on the solved blocks per hour and the added fee. Never had the problem with no confirms after one hour but before I make a payment I always check the mempoolsize and open transactions

I have some old bitcoins. When I do transactions, I usually send these coins first. They have higher priority so transaction is faster.

Lightning Network or Visa.
Except Visa is real, and Lightning Network will be ready In Two Weeks^TM.

Old bitcoins are like a good old wine! With other words I hold all my coins and in ten years it needs no block to confirm a payment..surely  ::)

Yea it's happened to me as well a few where it takes a while to confirm, don't know about a full hour though. I'm assuming you've included the recommended fee so all you have to do now is wait. The lightning network is around the corner so don't despair  ;)

If someone is saying that you need to include bigger fees to make sure your transaction is processed faster, then this is not really solution to the low confirmation times problem but rather
it feels more like a workaround. Shouldn't fast confirmation be a standard with normal fee rates? Do you have to be BTC expert ans manually set every fee rate to be experiencing cryptocurrency in the fullest?

bitcoin transactions are still fast enough to be considered faster.
if you are looking for anything faster than this then you have to look somewhere else like looking into altcoins and also accept the flaws they have

Yes for me im very satisfied of the service of bitcoin its conviniet using it for my bills payment and in other transactions but theres a time my cash out took a lot of time before i recieved that was only 1 case

Based on my experience, all I can say is yes, btc transactions are still faster. Like earlier I transferred funds from my old to my new wallet address and it was pretty fast, after some second of clicking the send button, I already received it to my new wallet. That's why I'm still good in transacting bitcoins, easy and convenient indeed.

I think sometimes Bitcoin transactions become headache?
Once I requested a payment from gambling site and it took over 2000 confirmations and maybe over 15 days.  :-[

I don't know what was the problem, but I received the coins.
 

Of course I still say bitcoin transaction is the fastest and cheaper than other transactions. Maybe it happens because too much output you requested. but just take your transaction will be successful. Thank you

not fast but more simple payment processor

Well, the transaction is fast unlike other payment processor, what we could say that is no longer fast is the conirmation of transactions which takes longer than usual these days.

BTC transaction time now is even ~ 28 hours. Of course it is a long time, for example bank payments are faster.  ;D

yap ialso feel that bitcoin going fasterandinever heard about delay transactions,but i think blockchain also have higher fees that last time i create transaction. but this is will good for us and better transaction should require higher fees.

that case are rare , i can say it could happened 1 from 100,000 transaction. it's happened to me too sometimes. but i believe bitcoin are the fastest payment processor so far. bitcoin just need to make it consistent confirming the transaction in 1 conf only , i don't know how the techincal bitcoin network so i may could be wrong.

No, it does not. It requires the exact same amount of time that it always did, 10 minutes on average per confirmation.

Wrong. Transaction time is: ~1-3 seconds. Confirmation time is: ~10 Minutes.

No. There is no chance of this happening if you know how to properly use Bitcoin (which includes both knowing what causes these things and knowing how to avoid them). The chance for a confirmation time of 28 hours for a proper transaction (assuming rational size, and adequate fee) is 0.

This sentence does not make sense. Maybe you've meant after 1 block?

I don't see any significant change at the time of confirmation. And as for me cannot be seen. The confirmation is connected mainly with the time of "producing" of a new block and the time between two blocks is fixed and cannot be changed (about 10 min). If there can be some blocks which are produced fast there must be some others which will be produced late. Your confirmation depends from the time in which is made.

I think if we use the recommended network fee then it is most likely that transcation will be completed on time. However if we lower the transcation fee then it is most likely that the confirmation takes considerable larger times to complete.

Dropping a check in the mail is ~1-3 seconds too. Of course, the recipient won't be able to spend the money until the check clears, but that's no different from your unconfirmed transaction.

Who says that you have to be able to spend that money instantly? I've used a lot of services which delivered the expected goods as soon as the TX arrived at their destination. This is a clear case of false analogy.

So you agree, bitcoin's fast, like checks in the mail?
or?

Stop with the false analogies. Bitcoin is faster than anything available from the traditional system.

Not joking, explain the difference between me subscribing to a magazine and mailing a check, and your 0-confirm transactions. Penny Stock Weekly won't be able to spend the check I sent them until it clears, your trading partner won't be able to spend the unconfirmed transaction. Where's the difference?

using blockchain.info still can spend an unconfirmed balance in the old version, don't know with the latest blockchain.info version but once the balance confirmed,the bitcoin which has been spent will get confirmed too and it doesn't take too many time sometimes

So I can send myself money with 0tx fee, spend it from the recipient wallet, and, when it fails to confirm and comes back, like it would likely do here:

...I can rinse and repeat? That's so cool!

So you're saying the following:

• Double-spending a TX is easy and can be done by anyone
• It takes the same amount of time for a unconfirmed TX to get confirmed as it takes a check to be cleared.

The time difference is huge. We are talking about proper TX's here.

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Update: I'm not going to waste more time on you. What you're trying to pinpoint is not of relevance.

I'm asking you to explain the difference between an unconfirmed transaction and a check in the mail (which hasn't cleared). I can rephrase the question again, if you wish.
To put this back in context:
edit: Yes, a check takes longer than 10 minutes to clear, though 10 minutes is far longer than "~1-3 seconds." Speed of BTC confirms is a different topic. We're looking for fundamental differences between an uncleared check & unconfirmed bitcoin transaction.

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Update: I'm not going to waste more time on you.http://s33.postimg.org/z561v5ssv/mink2.jpg plz no!!

For me as my observation about the speed of the transaction between the send and receiver it takes 10 minutes before your transaction get confirm this is fastest experience in bitcoin unlike before.. Before it takes 3 minutes or instant.. unlike now..
If we compare paypal in bitcoin for transacting funds paypal is fastest and instant.. unlike bitcoin it takes 10 minutes this is just my experience as of now.. even you are increasing the miners fee..

lol it takes so many confirmations before you received a bitcoin from external account and also sending a bitcoin takes so much confirmations it will need so much time to pass before the transactions are successfully confirmed . bitcoin transactions are not getting faster instead they getting slower .

Sometimes it really took a few hours before you send a Bitcoin. Sometimes the problem is on the block chain, the confirmation of your transaction took too pong.

If you mean faster compared to bank transactions then that applies in most cases. Faster than other, more anonymous cryptocurrencies, no. There are faster alternatives with less blockchain bloatage available.

Yeah PayPal has the constant time for every transaction. For this reason people find it to be faster but with bitcoin upon sending itself it reaches with the statement of unconfirmed transaction. Some even get confirmed in a short some take long time. This doesn't mean the amount is not transacted.

Here are just a few that come immediately to mind.  There may be additional differences as well.

• Although it is generally best not to do so, it is possible to spend unconfirmed bitcoins.  It is not typically possible to spend the money from an uncleared check.
• It is quite easy to see in advance if it is extremely likely that an unconfirmed transaction will confirm.  It is typically very difficult to determine ahead of time if a check will clear.
• It is relatively easy for the sender to remove funds from an account before a check clears, while it is quite difficult to successfully double-spend a properly formed bitcoin transaction
• The properly formed bitcoin transaction will typically (more often than half the time) confirm in less than 10 minutes and rarely (if ever) take more than 120 minutes, while the uncleared check will take days to clear

A properly formed bitcoin transaction is much more analogous to a credit card transaction that has received approval from the processing company and has a valid looking signature on the receipt than to a check in the mail.

>Although it is generally best not to do so, it is possible to spend unconfirmed bitcoins.
Plz give me an example, because I want to do some serious double-spending via 0-fee tx.

>properly formed bitcoin transaction will typically (more often than half the time) confirm in less than 10 minutes
Only if the hashrate is going up. If the hashrate is constant, the average is exactly 10 minutes, because math.

>10 minutes and rarely (if ever) take more than 120 minutes
Can assure you, it happens. See thread linked above.
http://s33.postimg.org/dsfm2798v/Capture.jpg

Sure.  As of the time that I'm posting this, you can see a transaction spending unconfirmed bitcoins here:
https://blockchain.info/tx-index/153263713

However, I suspect you'll find that getting away with double spending isn't as easy as you seem to imply it is.


Yes, the average is exactly 10 minutes (or at least VERY close), and as I said, more than half of the time it takes less than 10 minutes.  I believe the median is about 8 minutes or so, because maths.


When I said "The properly formed bitcoin transaction" I hoped that the average reader on this forum would understand that included paying a reasonable transaction fee.  The thread you linked was regarding a transaction that paid no fee at all.

None of your responses seem to successfully dispute my list of differences between an uncleared check and an unconfirmed bitcoin transaction.

Your FUD doesn't impress me much.

Orly? I assumed you mean https://en.wikipedia.org/wiki/Well-formed_formula. But you didn't. Could you link me to the definition of "properly formed bitcoin transaction" you're using? Because it seems you're suggesting that "a properly formed bitcoin transaction" is a transaction that goes through, which isn't much of a definition, being both circular and unenlightening :(

...also getting into some murky shit, since you're telling me that one of the most popular bitcoin wallets is creating ill-formed transactions, transactions which, being ill-formed, should never happen ???

Imagine going to your ATM, slipping it your card, and, after keying in some numbers, seeing "Lulz, UR monyz GONE, ill-formed transaction xD looool!!" Not only did you not get any money from your ATM, but the money you expected to get is, basically, GONE. You might get it back some day, and then again, you might not.
This really is the currency of the future.

>Sure.  As of the time that I'm posting this, you can see a transaction spending unconfirmed bitcoins here:
https://blockchain.info/tx-index/153263713

What am I looking at? And why is it still unconfirmed, an hour later?

It takes 30 minutes to 1 hour for me, but I only use a few pages to transfer and I get gig rewards in an random way, so I have no idea how much it genuinely takes.

Yep.


Nah.

When I say a "properly formed bitcoin transaction" I generally mean the following:

• Transaction includes a reasonable fee for it's size
• Transaction doesn't spend any unconfirmed outputs
• Sequence numbers of all inputs equal to UINT_MAX
• No competing transactions seen on the network spending any of the same inputs
• Transaction broadcast to multiple nodes

Not sure exactly which wallet you're talking about, but yes there are several "popular" wallets that have transactions which create "bad" transactions, or do a bad job of protecting their users.  Popularity is a very poor measure of quality.


Businesses that provide you with that ATM interface are motivated by competition and desire to profit to provide a quality product.  If some hobbyist created an ATM that did dumb crap like that, would you use it?  No? What about if that ATM was popular, then would you use it? There were unfortunately wallets created early on by hobbyists without a significant motivation to create anything better than they needed for their own personal purposes.  Those wallets became popular before better wallets came along.  Eventually the market will sort out and the best designs will win, but until then popularity is a poor measure of quality.


A transaction that spends unconfirmed bitcoins.  I'm pretty sure I already stated that.


Lack of transaction fee?

Vague, ambiguous words like "reasonable" have no place in a formal definition. Also: "its.
But you told me that those could be spent?
So opt-in RBF is out? Check.
How would my wife check for that?
Ditto.

Tell you what. I googled "properly formed bitcoin transaction," netting me ...About 0 results (0.32 seconds). Safe to say not something in common usage, so:
1. Don't coin techy sounding scientistical jargon like "properly formed bitcoin transaction" without defining it first. It might impress some bimbo at your city college, but shit don't fly here.
2. Learn what a definition is.

So you're saying that the only problem with that requirement is a typo in the word "its" and you would prefer a better word that "reasonable".  Got it.  At least we agree on that point.


Yep, they can, but if you do spend them (or receive a transaction that spent them) then you should expect a significantly increased chance that the transaction WON'T confirm in the next block.  We are talking about my statement that the "properly formed transaction will typically (more often than half the time) confirm in less than 10 minutes and rarely (if ever) take more than 120 minutes", right?


Looks like we agree on that point too.


If she's sending the transaction, she doesn't need to.

If she's receiving the transaction, then she can either use a wallet or service that tells her, use a service that manages the risk for her, or determine for herself if she has enough of a trust relationship with the payer to accept unconfirmed transactions or needs to wait for a confirmation.


See above.


Bummer.  Give it time. Maybe in a few more years.


Techy?  Maybe Techie.

I apologize for not gaining your approval on my word choices ahead of time. Hope you can get over it. Unfortunately, I don't think I'll be able to seek in advance your approval of all words I choose to use in the future.  I'll just continue to use words that I feel get my thoughts across as best I can.  Perhaps I'll occasionally fail, but it's gotten me this far in life, and I doubt it will become a problem for me now.  You've made your own value judgement about the word choice, others will make their own value judgements.  Perhaps some will agree with you, perhaps some won't.  I'm not particularly concerned.


Um? Ok.


Nah.  Not interested.

No. I'm telling you that not only is your definition junk ("reasonable" is junk, for the same reason "correct answer" is not a correct answer to a math problem -- it's unenlightening, it carries no information, it tells your teacher nothing), but you also cant's write right.

>but if you do spend them (or receive a transaction that spent them) then you should expect a significantly increased chance that the transaction WON'T confirm in the next block

So, exactly like spending a check that Anon claims he sent you, then.
You can write checks (backed by zilch) before you receive Anon's check, but, if anyone tries to cash those bouncy checks you wrote, they'll bounce. But yeah, strictly speaking, you are free to spend Anon's check as soon as he tells you it's in the mail. Just like those unconfirmed tx ::)

>Techy?  Maybe Techie.
Nah, I'm good.
http://s33.postimg.org/892lhukan/Capture.gif

if you want a fast bitcoin transactions use large transaction fee anyway. especially if you send bitcoin numbers are very large then it was followed a large fee anyway. on the one day I had sent bitcoin with a large amount but the fee that I give very little. guess how long? 3 days I can only confirm the transaction. so do not play play against fee. This is very influential.

confirmation times depends on blocks as well as fees. Even though you sent more free than recommended, you've to wait until the current block to solve.

I think yes i can still say it is fast transactions.But sometimes delayed just umderstand all  things that is in on every transactions you made.Because of millions of transaction being process per day blockchain server may have problem handling it thats why sometimes it is delayed and not being confirmed.One fact is about the blocs fees and amount of transfer

Just pay higher fee. Problem solved.

Only one time my transaction took more than 2 hours why? because I used custom fee with block chain.info.
Other wise when I buy bitcoin from an exchange site with my credit card just after sending money to them when I open my wallet and
can see my bitcoins in it. I will gladly wait 5 minutes and get 3 confirmations with only 0.0001B fee.

I also think that it is still faster just delayed but I think it will be back to normal after july.

Bitcoin block target time has always remained at 10 minutes and it hasn't changed. Difficulty is automatically adjusted to suit the 10 minutes frequency every 2016 blocks. The average timing has always been close to 10 minutes even though some blocks may be longer due to variance. Miners can choose to exclude certain transaction that doesn't meet the criteria that they have set. TX fee is the main factor however.

bitcoin transactions are not very fast. Add 0.0001 btc fee per kilobyte and it will confirm in 15-20minutes or even faster than this. if it is not confirming then we can say that u have not spent enough fees.

I think its depends in your using to send your bitcoin, mine i send some bitcoin in my friends wallet using coins.ph to coins.ph my transaction is smooth. But if i transact with other wallet or i deposit in other wallet my transaction is too slow i wait only 30minutes to 1hour. I think it is not fast because many transaction are doing in everyhour so i think thats the reason why it is not pass like other altcoin.

Well, i don't know. Because when i do some transactions sometimes the confirmation is very slow, sometimes it's fast. If bitcoin can make it fast, i'm sure it's a big advantage too for bitcoin.

Everytime the price rises, there is a backlog of transactions - I'm pretty sure this is the reason the price drops back down again. Bitcoin will continue to struggle until this is resolved, and I'm amazed it hasn't already.

you're right, the transaction did happen quickly, but it sometimes feels his confirmation for a long time, sometimes its confirmation makes people bored waiting.

Same thing happened to me also a week before when am trading with someone.

Bitcoin dev need to look this. Confirmation really need faster like cash transaction. Bitcoin miners also need to look for possibilities to minimize transaction fees because its really high for small transaction.
With this type of improvements, hopping after couple of years we can use bitcoin similar to cash.

Bitcoin transactions are fast as long as you choose to include an adequate miners' fee. But I have had a couple of instances where the Bitcoin wallet I was using had technical problems and the transactions were slowed artificially and this happened mostly with the old Blockchain wallet. I think you either didn't include an optimal fee or there was something wrong with the Blockchain network for your transaction to have been unconfirmed for 1 hour. But if you are comparing Bitcoin to other digital money payment processors I am not so sure which one is faster, but Bitcoin is certainly more secure  ;)

Banks transfers between accounts on average take 3-5 working days, and maybe more, if the foreign translations. In cryptocurrency instantaneous transaction. However, when working with large amounts of evidence it is recommended to wait a few transaction network, it usually takes less than an hour.

P.S
By the way. Lastest news:
"Bitcoin Core Team has developed a solution to reduce data transfer time on the network

The update includes a number of methods to reduce the time blocks spread across the network. The basic idea is to take advantage of the fact that the memory pools in total units have similar data. Therefore, the node can send to other nodes only the graphic description of the block, and they are already create a block from scratch. This will save bandwidth since the unit as such fully should not be transmitted."

https://bitcoincore.org/en/2016/06/07/compact-blocks-faq/

Bitcoin does not care for your lack of knowledge needed to use it. There is no 'sometimes' and 'long time' for properly constructed transactions (assuming reasonable block-intervals).

You're talking about the blockchain.info wallet? Then it might be best to always properly clarify your statements, as there was almost never "something wrong with the blockchain" (since blockchain.info != bitcoin's blockchain), but there are problems with blockchain.info (from time to time).

Bitcoin is still faster.

That is off-topic.

yes bitcoin funds transfer transactions so fast. but it depends on the amount of fees that input. if appropriate, the transaction speed will be fast. but if the amount of money we send big, while we enter a small fee, the delivery will be slow.

I think that gives a greater fee will be prioritized? so the block will be faster solve those who provide greater fee?
but the reality may differ only slightly with only 10k fee satoshi. bitcoin transaction speed is medium #imo

BTC is ALWAYS faster than international transfers

also i had this explained to me more too, basically
if the btc you are sending has been static for some time (sat in wallet for weeks)
it will be confirmed quicker
if it is of more substantial amount (ie over 1 BTC)
it will be confirmed quicker
if you are sending BTC that has been moving recently (ie you bought it then sent it)
it will take longer to be confirmed, especially if smaller amount as well

No. The amount of fees that could potentially be included in a block will not be able to 'speed' up solving of it. You don't understand how Bitcoin works.

So medium speed = 1-3 seconds on average. Interesting "opinion".

I've read somewhere that the miners have moved away from this model (I'm not sure whether this is true though, as I can't find direct information about it).

The amount that is being transferred is irrelevant when it comes to priority.

That's because it only ever applied to free transactions, which miners are indeed moving away from. Core still prioritises free transactions this way when mining, but you need to change the default settings to allow free transactions in the first place. Most miners don't, but since some do, this is what determines whether a particular free transaction will take several days to be confirmed or never. It's probably better to just pay the recommended fee than to rely on this behaviour, though.

It's not delayed because of that's always repeated and waste my time only to wait for clock confirmation, I hope there is a way about this problem.
Wait for LN project to solve this problem.

sometime it not take much time but sometime it can take long time to get only 1 confirmation , i always fix fee about 0.0002 BTC but i think it always depends from the miner and not from fee

of course bitcoins transactions are the fastest you just have to include the correct amount of fees

I think faster means that it's easy to do the transaction, not how long does it takes for each transaction. Because if we use another payment system (like bank), it will take a while for us to go to the bank first. But with Bitcoin, we can do it whenever and wherever we want.

For me sorry that i can not say that btc transactions is faster than the other transaction.. if you try other company like paypal or perfect money if you send funds to other you can get it instantly unlike bitcoin.. if you are relaying how easy to transact bitcoin to other wallet how easy paypal or perfectmoney?

I would say its average because we can't compare it to paypal as paypal is proven and tested while BTC is presently progressing  and is not well maintain as paypal. When I compare money transfers between two banks in the same country I would say we just have to wait for just a minute to see our transfer reflect to our ATM but I think its not hours compared to BTC. We have this pawnshop at my country (better not to say) that it is instant as long as the sender would send the code to his receiver and can withdraw the money to any outlet of it.

i think for now bitcoin is better than the other payment because bitcoin transaction very simple and not really need to do some verification , waiting for review , etc

still faster then banks on saturday and sunday.......... love having to wait 3 days before i get my money sending to another bank in the same country.

So my assumption was correct, thank you for the information. The times of 'free transactions' are behind us.

This does not make sense.

LN is not trying to solve "this problem". One could argue that it will be able to provide near instant transactions (only after you have locked funds) since it doesn't require confirmations.

Nonsense. Bitcoin is proven and tested as well and has better "network health" (the up-time is 99.990285451% according to the website that tracks this).

bank transactions and other methods often take days and are more expensive.

especially if you want them to be international and/or if you want to send very large or very small amounts.

Yes I too think it is fast in terms of sending payments, I have not encountered any difficulties ever since I use BTC as a means of payments. It might happen some times before when there was a stress test on bitcoin network.

Just put a little of 0.0001 btc as fees and it will not find any hassle in making faster bitcoin transactions within next 10 minutes.

For me i can say transaction when in comes to bitcoins is not that too fast because always it needs confirmation it fakes 20-30mins when i am transfering in my wallet.and other transactions too.

yeah the transaction has so many confirmations before you received it to your wallet well the good thing is it only take an hour before it goes to your wallet but it will be great if it is the same with the others they only have few confirmations for those huge amount transaction how about bitcoin will be like that ?  ;D ;D

not all the time that BTC transactions are faster,..
in my experience sometimes it delayed too much
before the confirmation send to my email,..but sometimes it is faster, :)

I have tried this way and sometimes the problems is come back and waste all of my time only to wait for block confirmation. Does bitcoin need to improve their system on the transaction for now?

It really depends on the fees that you use. If you use like 10k satoshis it might take longer than if you used 50k satoshis. I don't really think that the speed has improved.

Yea after 1 confirmation.

Bitcoins transaction are faster compare to other transaction that i did before,
though sometimes it takes long time to wait before the confirmation arrive in my email.. :) ;)

definitely yes! bitcoin transaction are truly faster.  Maybe the transaction is being delay only if the net connection is very
poor so the confirmation in the email is not arriving at once. :)

Bitcoin transactions were truly faster compared to any other sources that are being used by various people according to their own convenience. Within a short time transaction happens as a unconfirmed form but confirmation takes place in a short or too.

I think paypal still fast in transaction if you compare the speed of the transaction bitcoin transaction it takes 10 minutes before you receive.. unless if you are in the same company wallet you can receive the bitcoin fast.

Nowadays the transactions of bitcoin are taking much longer time which sometimes become irritating when you need money urgently, and on bitpay while paying for a service it will be a problem, because bitpay wait only for 15 minutes for the first confirmation.

it's called bottleneck when there's so many unconfirmed transaction but the block only 1mb

Wrong. Transactions take 1-3 sections usually. Confirmations take 10 minutes on average.

Then stop being cheap and include the recommended fee.

Even if the block size limit was 1 GB it can't be helped. Certain entities would bloat the blockchain with spam occasionally.

I believe bitpay is ok with zero confirmation transaction, at least last time I used bitpay it was this case. So 15 minutes to create transaction is enough.