Bitcoin Forum

Transactions are too slow. Will someone fix it or do we need a better coin?

Transactions are fast.

Confirmations can sometimes be slow depending on when a block is found.

Recently I have been finding the network quicker.

But still I think each block find average time is still quite good ~12 Minutes or so. (Don't quote me on this)

There is nothing that needs to be fixed... bar maybe block size (but thats debatable (I think its debatable))

Bitcoin transactions are the fastest global transactions ever created in the history of history. Only an "in-person" cash transfer is faster. For comparison, a credit card takes 2 - 60 days if all goes well. No "fix" is needed as it works great.

How do you mean they are slow? The transactaions are executed within the half an hour, in.average, sometimes even faster. So,I see nothing to complain to. Only very rarely some transactions get stuck in the blockchain confirmation.

It's fine, OP. Just how bad are you jonesing for bath salts, anyhow?

I guess there are some things that make it to be slow, maybe you send bitcoin with a very large number, or maybe this time the OP was very busy because, so many people who buy and sell their bitcoin due to price increases

the main problem is with block size rather than tranasaction speed, so we really need 2mb block size alteast to make bitcoin transaction fast.

i have my doubt that even a cash in eprson transaction is faster, usually you need to check carefully in real life with cash how much you are exactly givin, two times at least, it's easy to be wrong there

That wouldn't help in the instance that a block is not found though. sure when one is found you can fit more tx in if you did use a low fee.

but realistically you can use most services and send from wallet -> wallet within 60 minutes still.

If you need many small and fast transactions you might be looking at instant transactions with lighting network / thunder as a new feature for Bitcoin, currently in development and expect it later this year. It has downsides as well because you need to lock in Bitcoins you can use later anytime (but instantly) with lighting network / thunder, but it might fit your need much better.

Other than that, average 10 min block times are going to stay with Bitcoin for a reason, reducting to 5 min you would loose half the security for 1 confirmation anyway, dont fall in cheap tricks of some altcoins with super fast confirmations, because it comes with downsides as well.

You are confused, because what you take for Bitcoin is spam. Spam can be slow.

I don't think that bitcoin transactions are too slow, its has never been major issue for me as my transactions gets confirmed maximum in 20 minutes and I don't understand why people keep on complaining about it.

Don't know what you're talking about to be honest.
Transactions happen almost instantly.And confirmation as usual ~10 minutes.
So everything is fine and nothing needs to be fixed.
Maybe try to be a bit more precise to tell us what kind of problem you have.

The mempool size is 19.5 MB now. I paid the transaction fee which should let the transaction confirm within 1 block, it is still not confirmed after 2 hours.

How many threads are you people going to open? Is it so hard to use Google? There is a huge difference between transaction speed [1] and confirmation speed [2].
[1] - Usually 1-3 seconds for reasonable transactions.
[2] - 10 minutes on average.

Exactly. Don't blame the network if you don't know how to properly use it.

No. That mempool size is calculated based on specific settings that the node has. If you accept all transactions you should assume that the mempool is "going towards infinity" due to spam.

Provide a transaction ID.

I was thinking of a confirmation rather than a transaction. I think you are right about an actual Tx. Mine normally take 1 - 3 seconds, and I suppose that it is faster than getting a dollar from your pocket.

Yes bitcoins transactions are not only faster and Cheaper also. Think of any credit card and see how much taxes it detects o each transaction and so many fees associated with it like maintenance fee, yearly fee etc etc. Bitcoin is the best coin and we do not need any other coin for its replacement.

Exactly and the day I started to use bitcoin, I have never used banks or WU for making money transfers as bitcoin is taking care of it in best possible way.

Taking a few minutes for my transaction getting added to the ledger would be acceptable. A few seconds would be ideal.

30-60 minutes is not when all I can do is sit with my thumb up my ass waiting for it to be accepted and needing the money to move.

it rarely takes from 30 to 60 minutes in order for your transaction to get confirmed in my opinion but it sometimes happens, either way its still not the longest time you might need to wait

for me bitcoin is definitely not too slow for me, i have never had any problems with waiting for my transactions to be confirmed and i think that the 10 minute block time is really fast

Me as well. I dumped my PayPal account in 2010 when I switched to bitcoin for online purchases. Ever since then they have sent me at least 1 spam email a week. About once a year I ask them if they are using BTC yet. Then I say "Ok, well let me know when you do."


Consider what you are selling/buying.
If I were selling a yatch then I would want to see 5 - 6 confirmations. That is an hour or so wait, but not that long considering the scale of the purchase. If I were selling a flashlight then I would not wait at all. The effort and expense of faking a Tx is far greater than the gain of a flashlight. This why McDonald's can take a credit card for a burger. They have no idea if the Tx is legit, but they do know it is not feasible to make a fake card to get a burger. 

transactions are very, very fast, of course, sometimes for some reasons even i have to wait, but longest time i waited was 20 minutes and then i got my money so i'm not mad

and i don't know, maybe they takes so long for you because you didn't paid enough of fees for that, as my friend once sent some money without fee and he waited 2 days to get money

The transactions are really faster. The one i made last time was a so fast that i wondered what happened to the site. I even told my spouse about this. At time due to network issue you might have faced it. But indeed, its really faster.

there is no need to be fix in the transaction, it looks like you just need to add a 'little' fee to obtain confirmation faster than usual. ;D
usually ~15 minutes your transaction getting confirmed if you use recommended fee by network

 29082 Unconfirmed Transactions  :o :o :o :o

https://blockchain.info/unconfirmed-transactions?show_adv=true

It depends on the block size dude it would a confirmation before it goes to your wallet or to where you have deposit .
 It doesnt need to be fixed maybe it is slow for sometimes it just because of the number of transactions that blockchain is taking . So be patient .

Over 20k transactions of spam. There is less than 5k unconfirmed transactions in the usually recommended range (or above) which is 40 or 50 satoshis/byte.

You have no idea what you're talking about.

This isn't English.

Slow? In my opinion its much faster then year ago. Based on my experience, before I waited for transactions to complete, now everything is done in few minutes.

I don't know what some people expect from this, to send it in mili second? Where people hurry so much. If you wish to get somewhere on time, start in time.

Spammers got so used to excellent service they complain now that they don't get it. Outrageous.

Transactions are fast enought, confirmations could take some time but it depends on the fee. Sometimes users compare it with credit cards "fast transactions", when buy with credit cards seems fast, but the real thing is that sellers have to wait from 1 to 3 days to "confirm" the money on their accoutn.

Well could someone fix Bitcoin then please so it can't be spammed so I can send money when I want to? Or do we need a better coin?

Idea: Put some bits in a paper wallet for offline transactions to give to the other person. They can sweep them or whatever.


But Bitcoin is great for online transactions. Yeah, 10+ minutes until you get a couple of confirmations but it works well in my opinion.

Another thread, same story: OP is confusing transaction time and confirmation time

Transaction time: instant
Confirmation time: 10 minutes


If you can "fix" it and/or come up with a better coin, feel free to do so :D

A lot of better coins out there but you guys are emotionally attached to one.

i think bitcoin transactions is pretty fast for me even though with default fee only need 10-15 minutes to confirm the transactions but if you want more faster just increase the fees and it would solved your problem

I sent one 6 hours ago and zero confirms so far? is that possible?

What isn't broken does not need fixing.

It is also possible that your transaction never confirms (with the improper fee settings). Please provide us with the TX ID.

I'm sending 0.21btc

fee was 0.00002298 btc

I never touch the fee setting it is just default as it always has been.

I've seen 2 hours before but not this long ever.

The amount that you're sending is irrelevant. What matters is the size of your transaction.

You've included 2 cents when the recommended for the median TX size is 10 cents? You do not need to wonder why your TX isn't confirming.

What wallet are you using and what version?

Well i don't think it would be fix .because the more users it can be the more time it will takes to make a success confirmation that was only problem on transacting bitcoins.

Lmao . I dont think that bitcoin transactions are too slow, because the last time i transferred bitcoin to my wallet it doesn't take an hour but its just only 40minutes , theres nothing to be fixed with transactions because sometimes the blockchain is holding a lot of transactions so it means transactions are not toltally instant .

bitcoin core and I just downloaded this wallet in the last week from the bitcoin main website and installed it. I have never adapted the default fee slider on any version before and never had any issues.

So just wait and it will confirm in a few days or it will never confirm and eventually be returned to the wallet?

Last night bitcoin have some issue, have a lot of transaction is stuck and not get a confirmation for some hours. and many people said with me if he got stuck o their transaction and not get a block confirmation.

Me too bro, I have a huge transaction last night and until now the transaction is not finished, Its better to fix their issue immediately

If you mean the designed confirmation time, I think this is not a problem because issue can be addressed on merchant processing side.

But if you mean delays due to full blocks, that is issue must be fixed by core developers. Wonder why it not fixed yet? :D

~~

I think bitcoin transaction is a transaction that is the fastest compared to the other services, you may send bitcoin current density occur and have to wait longer that common. No system is perfect friends, except artificial god. Thank you

Could you provide the transaction ID?

Bitcoin Core does rebroadcast the transactions to prevent it from dropping out of the mempool and it would definitely confirm, the time can be quite long though. Or else, you can start Bitcoin Core with -zapwallettxes and resend it after a while[1]. The estimate fee can be fairly inaccurate at times, especially if the transaction volume suddenly surges.
[1] https://bitcointalk.org/index.php?topic=1289559.msg13273042#msg13273042

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They take a fraction of a second. What keeps people waiting is the confirmation time. The block is kept at 10 minutes intervals and reducing it would also reduce the security of one confirmation and would in turn likely to require merchants to wait for more confirmations.

It won't get fixed. It was slow since the beginning.  That's why litecoin is invented.  Litecoin is way faster than bitcoin and it proved that it's also reliable.

 3 confirmations of bitcoins usually take 30 mins to 1 hour and that's a lot of time for me.

I think no one can fix it because the it's depend on how many users are sending and receiving bitcoin :).

Bitcoin Price is indeed unpredictable because there are several factors that can affect its value whether it will soar or fall. However,as stated, if you see this perspective in a broader sense, you will take note that the change in price of bitcoins is solely in the hands of bitcoin users.

You need some patience for it if you have Bitcoin and waiting is important otherwise you are not to be able to earn some money with it and that is bad.
So you have to know that the price of Bitcoin is also not going to rise that fast and it was stable for a long time and it have not to recover.

Transction are fast depending on its amount and block status i think.Because if blocks where crowded then your transaction specially for big amounts maybe hanged

Stop posting bullshit like this.

I'm going to say this again, and please do not go around complaining about your TX(s) when it is your fault.There are two (main) factors involved here:
1) Recommended fee in satoshis/byte.
2) Your transaction size.
Just because a fee of X was 'okay' a week ago, that does not mean that it will be 'okay' today.

transaction speed may vary. if theres a lot of request then  it maybe going very slow but  it depemds just like what ive said.

Stop posting bullshit like this. lol.

Transaction is instantaneous, confirmation takes more time.

Confirmation for credit card transactions take up to 180 days, yet, I don't see you complaining about it and im sure you use credit cards a lot. So learn what transaction, confirmation, node decentralization etc means before crying about small blocks.

That would be a fairly significant problem if it was a true global currency!

Anyone who has sent Bitcoins to an exchange to try to trade when the price moves quickly will know that it takes a long time for your transaction to be confirmed 6 times.
That said, when you buy something online or spend bitcoins somewhere, you can also see that it is recognised in 1-5 seconds.  For small amounts that is great, if confirmations are needed, then it wouldn't be a great idea to not buy online.

Very rightly said, people don't complaint about credit cards, but they do complaint about bitcoin transactions, but the fact is they ignore the advantages of bitcoin and focuses only on one minus point.

Only if you completely ignore all the other cryptos, of which Bitcoin is one of the slowest. Most secure maybe, but definitely not the fastest.

Transaction is instantaneously broadcast, but may never confirm.
Therefore, worthless.

Why would credit card users complain about that 180 days?
Their contract is immediate and goods are received.

Are you saying bitcoin is ok, in comparison, if confirmation takes less than 180 days?

Damn, a lot of people feeding the troll here...

best thing about bitcoin is it's speed  comparing to other banking methods in the world. lol I  have paypal and visa but still not able to
Get some money in them from other country, but already have at least 200 transactions world wide with bitcoin. never say is slow but the best.

how can you say that look the present rate of bitcoin and then compare it with a month before. you will see that how fast the bitcoin is.

I see you're account farming? Can I help?
clippy.gif

So far if you are paying sufficient fee, the confirmation time will be faster... However, that's the "CONFIRMATION" time. Further discussion on this will lead to the blocksize debate...

Transaction wise, it is almost instant.

Comparing to CC's doesn't work because someone takes the risk until the purchases clear. This is not the case with Bitcoin.

Confirmations take 10 minutes on average.

This doesn't make sense.

A block size limit increase could possibly ease the problem temporarily, but that is it.

If you pay more than the minimum relay fee (currently 0.00005), and a little bit more than the estimated fee for confirmation in 25 blocks (estimatefee 25) then your transaction will get included in a block within an hour or two, almost guaranteed. Free transactions (the ones without a tx fee) still get included provided the priority is very high.

Transactions are broadcast in seconds, and after about 10 seconds, if there is no double-spend attempts and if the minimum fees are included, you can be sure that particular transaction will get confirmed. That's how bitpay and other bitcoin payment processors work. They don't need to wait for a block or a confirmation.

Only small websites like bitcoin casinos wait for a block or more before allowing you to play. Some exchanges wait for 3 confirmations or more.

If you are transacting Bitcoin to websites that require 0 confirmations to use the funds you will get your coins credited and ready to use almost momentarily. Credit and debit card transactions are instant too, but there is some time required for their transactions to clear behind the scenes so to speak on the banks' end. The Bitcoin network on the other hand can 'clear' the transactions over the network before the funds become available to spend, and I don't think this feature makes Bitcoin slow but rather more secure in a way. My 2 cents on the matter.

transaction of bitcoin may varry if theres a lot of requests then it is slow but if theres a few request then its fast.

what if the average number of tx with proper fee exceeds the block limit, it's not guaranteed anymore that my transaction with proper fee, will be confirmed in 1-2 hours right?

True. There are other coins based on bitcoin that are now faster. And some very old systems are also fast. For example Hawala (حِوالة) , which means transfer, is an Islamic banking system based on trusted brokers. It is basically instantaneous but requires profound trust.
Satoshi and I don't like the need to trust. But anyway, good point.

That is exactly what I was trying to tell pereira. It was his bad not mine.


Duh. Your statement is not relevant to what I asked pereira here.
I doubt that irrelevant comment is even true. Link please?
Blocks take 10 minute on average to find.

Correct. Exactly what happened yesterday.

hehe, it is not instantaneous , it has two forms and both of them take at least 1 hour (1 to 3 hours) to confirm. but the only good thing about it is that it is free, there is zero fees for sending this kind of transaction :)

There is no guarantee, but there is high probability that your transaction will get confirmed in a block. If the average tx with proper fee exceeds the block limit, the estimate moves higher. If you pay more than the minimum, or higher than the average or estimate, then you will get a higher probability of your transaction being confirmed sooner.

Right now:

estimatefee 25
0.00024126

estimatefee 2
0.00057960

So you just pay a tx fee higher than that lower number above and you'll be fine. If you pay a fee higher than the second number, your tx will simply be confirmed in an estimated 2 blocks time. This is from the bitcoin core estimatefee command.

A long time ago, the fee was 0.01, then lowered to 0.001. 0.0005 isn't that bad, it's still less than a dollar equivalent.

That is true there are always people who think that the coin is rising to slow but that only depends about what you are doing with the coin just holding is not profide the price increase...

Simple, all the transactions that didn't make it to the block will be labelled as 'spam'. Problem solved.

But seriously, if demand exceeds block capacity, then there's no such thing as 'proper' fee.

Bitcoin is not slow and many people thinks that it is slow and that is because they dont have the patience to wait a long time until the value will be higher.
And that is why patience is important in Bitcoin because you have choose the right moment to sell it and that is important.

Aw crap. Another staff member talking bollocks!

"If you pay more than the minimum, or higher than the average or estimate, then you will get a higher probability of your transaction being confirmed sooner."
Wow what a plan. Dont tell every one though or..

"If the average tx with proper fee exceeds the block limit, the estimate moves higher."
Leaving all the previous high fee payers stuck in the mempool.

Oh well "it's still less than a dollar equivalent."  until...

"the estimate moves higher." Doh!

The bitcoin is going to slow and that is only because there are to many people who are just holding them and i know that for sure. Because if we all spent some coins the price will rise allot trust me.

You are a complete idiot.

I have never experienced any problems with the transactions and it always worked pretty fast with me. I do not have any complaints about Bitcoin. 

Such bad advice on fees from staff here.


"almost guaranteed". In the past , yes. Now and in the near future, probably not.
And if it is not, then your transaction is stuck for as long as it takes.
This is exactly the sort of fee Lauda calls spam. (or at least tells people it is not a high enough fee, in most cases)
Fine if you don't mind waiting it out.


Most coins of course will not have this high priority rating.
Free transactions are (usually) spam. (ask Lauda)
Most free transactions will not get broadcast, or will be dropped from the mempool in a few days.

Anyone using Dabs advise will run into delays.
And Lauda will tell you it is your own fault for not paying correct fees.

None of the posts in this thread so far have really explained the problem.

Bitcoin's 0-confirmation transactions have three major flaws:

1. They are too slow for certain types of microtransactions such as clicking the mouse to access some Internet resource. No one wants to wait 5+ seconds every time they click the mouse. The reliability against a double-spend increases as propagation of the transactions across the full node network completes. This depends on the weighted average of hashrate and the slowest latency on the network. Thus the way to improve this speed is to centralize mining, which is probably why ButtCON has been getting faster as mining has essentially become entirely centralized and only an illusion of decentralization remains (https://bitcointalk.org/index.php?topic=1505886.msg15218691#msg15218691).

One might argue that no one will bother to double-spend such small valued instant microtransactions, but in fact these are the most vulnerable to double-spending because the the payee can't delay the access for many seconds, the payer can't get caught in the virtual act unlike retail and because there might be an incentive to sabotage an Internet merchant or service (e.g. competing social networks attacking each other covertly, politically/religiously motivated attack, etc).

Some references:

https://www.reddit.com/r/btc/comments/3ze0sz/why_bitcoin_0_confirmation_transactions_are_safe/
https://chrispacia.wordpress.com/2015/11/29/on-zero-confirmation-transactions/
https://blog.blockcypher.com/from-zero-to-hero-bitcoin-transactions-in-8-seconds-7c9edcb3b734

2. The Bitcoin block chain can't scale to handle the level of transaction rate that microtransactions would require without being centralized.

3. It seems the core developers may be intent on implementing Replace-by-Fee and destroying 0-confirmations, although RBF will apparently be opt-in so it wouldn't destroy all 0-confirmations. Although RBF seems to have a legitimate use-case for being able to prevent transactions from getting stuck if the fee ends up being too low in a free market competition for setting transaction fees:

https://bitcoinmagazine.com/articles/bitcoin-core-developer-jonas-schnelli-explains-controversial-transaction-replace-by-fee-feature-1454343556

Also the collusion between Blockstream and the Chinese mining cartel (https://bitcointalk.org/index.php?topic=1413819.msg15216870#msg15216870) potentially breaks 0-confirmations by not increasing the block size sufficiently to handle all transactions that have a sufficient fee, which by definition is not spam. Which btw may incentivize payers to use RBF. Perhaps Blockstream may be trying to push towards Lightning Networks, which is also flawed and can't scale decentralized either (https://bitcointalk.org/index.php?topic=1319681.msg15122014#msg15122014).


Note many people may think that instant microtransactions are irrelevant, but when that ends up being the future economy of the Knowledge Age and displaces the retail and tangible economy by several orders-of-magnitude, then the dinosaur (Model T) will be Bitcoin.

I never said that it was your 'bad'. I was just adding my input to that view.

1) It is not irrelevant. 2) It is true. Unless you want to include irrational transactions (unusual size, unusually low fee in comparison to the recommended one) in your calculation.

Exactly, and this is why we tell people that confirmations take 10 minutes on average per confirmation.

Not necessarily all, but most are. Whoever complains about the network when they've included a fee that is several times lower than recommended is very ignorant (the nicest way to put this). The only time when this might work is if there are practically almost no transactions in the mempool.

I stand by those words. If this wasn't the case, everyone would be affected (which is not the case here).

I also have no problem with that, I think there is a problem in the way, but I did not know it. This week I am doing transactions with bitcoin, but I did not get into trouble, because the transaction took place fairly quickly and satisfactorily

you should compare the bitcoin transaction speed not talk about it absolutely.

when you compare bitcoin with other payment methods and also check the average time not a single bad luck or low fee timing you see that it is fast.

If we're talking about some alt coins, they can get it done in less than a minute. So... Considerably the OP is right and wrong at the same time. BitCoin is fast, but there's faster.

Regardless of what rank I have, what did I say that is not true or incorrect? Did you mean "nonsense" or you just have contempt for the facts?

It is what it is. You either work with it, or find a way around it. The simple solution, for most end users, is to pay a fee. Or to wait.


If you pay higher, your delay is less. If you pay less or none, then you will have to wait.


Nothing is going to change anything I said, I was simply stating how it is now.

Bitcoin was never meant for these types of microtransactions. That's where alt coins and lightning and other off-chain transactions come in. Or giant online wallets. Or whatever.

So you've answered the OP's question about do we need another coin.

Ok, you were saying it was pereiras bad, like I said.


Average block time is not the same as average transaction time.
Unless you exclude all transactions that take longer than 10 minutes you say?


You really mean if you pay a high enough fee to be included into the next block, the average comfirmation time would be 10 minutes?
Not the same thing
("we", who else is giving this false info, other staff?)


I agree. So why are staff telling users to do this?


And I agree. (that the fee was to low to get into a "core restricted" 1mb block)
So why are staff telling people to use a low fee and hope for the best?

Oh, I see your depth of knowledge on the subject now.
Thanks for contributing.

I never said that they were the same thing (re-read my post). Transactions take a few seconds at most, and blocks are solved (on average) every 10 minutes.

No. I mean if you properly use Bitcoin (which involves using the proper fees and software which is not outdated) you will get a confirmation every 10 minutes (on average).

Anyone that isn't spamming this thread (and others) with useless posts and knows a bit more about Bitcoin.

Being a staff member does not imply having a high knowledge of the underlying technology that Bitcoin uses (Note: I'm not saying that dabs does not). I don't understand the point behind his post. This part of his post:
is false.

Thanks Lauda.

Sorry about that. There was some confusion on my part. estimatefee 25 means exactly that, it will probably confirm in 25 blocks from the time you send the transaction. It has been my experience that most of my own transactions confirm in less than 25 blocks, but some of them have indeed taken longer.

If you want a high probability of confirmation within the hour, you use a fee higher than estimatefee 6 gives you.

For most transactions that I have dealt with, anything higher than estimatefee 25 worked. For escrow transactions, since it is part of my fee, I make the buyer or seller pay for the tx fee and intentionally make it higher such that it confirms in 1 or 2 blocks. I also do not proceed with the the escrow until there is at least 1 confirmation to the escrow address, regardless of tx fee, so that part is up to the sender.

The only time I've had to use what I consider microtransactions was when I used to play Satoshidice and the minimum bet was 0.01 and I included a fee of 0.001 but that was a long time ago. I've only discovered bitcoin in 2012, so there are many people who know a lot more about this than I do.

I'm just another user of bitcoin.

"Just pay a higher fee" isn't a proper solution though, if we would all pay the recommended fee, than that fee would keep on increasing, because there can only be so many transactions in a block, eventually the fee will become high enough that people will start to move over to other blockchains with proper scaling solutions.

Thanks. How hard to understand that can that be?

And to think this was "planned" by Core. This is Cores dynamic fee market. It is not some f*** up!
And it will get worse and worse every day, until segwit is rushed out.

More likely, with the ensuing loss of faith in Core, a sudden hard fork to bigger blocks.
(For the median transaction size of 333 bytes, this results in a fee of 26,640 satoshis (0.17$).

i never thought of it like this but then why has there because such a crazy spike in the mempool graph in last day or so? it's not like everyone woke up and decided to start paying higher fee

https://bitcoinfees.github.io/#1d

Well, not necessarily. It gives you an estimate probability, but combined with the flat relay fee it would end up with a flat fee. What I mean is, would this really work with transactions of any size (hint: It won't). A very important factor is the satoshis/byte included fee factor. If it is lower than the recommended one, then: now ---time---> confirmation - will increase.

Nobody claimed it was a 'proper' solution to some problem which was not the topic here. It comes down to whether the transaction needs the priority or doesn't.

There are no blockchains that are decentralized with what you've just described.

Segwit is not being rushed out. This is probably the biggest review of any change to-date.

Only irrational and greedy baboons would rush into a HF.  ::)

For me its not slow. Its going good, sometimes its very fast, sometimes I wait a bit. But I have patience, so I don't wish to bother my mind with stupid things.
If you wish faster, pay higher fee and that is it. But people wish fast and cheapest possible.
I wouldn't change nothing, for me everything is working just fine.

Oh, well Core claim it a proper solution. (it's called a dynamic fee market)

So how can fees be off topic here.
We need to know about fees, so as to know if "bitcoin being slow" was user error.

Anyone not "Just paying a higher fee" is at fault "for bitcoin being slow", according to Core.
This is the Core roadmap.
Bitcoin will be slow for user not "Just paying a higher fee".
Indeed, "Just paying a higher fee" is the only solution, bar a block size increase.

I just get on the next bus. If you really want to ride the bus that is full, you need to pay someone already sitting in that bus to get out, and that gets expensive.

Unless it's the end of the world, I'm not paying a fee higher than I need to, and I'm willing to wait. If it is the end of the world, maybe that bus isn't a good idea anyway.

Unfortunately, this is how it is with bitcoin.

I just imagine that bitcoin is a check or cheque that clears much faster than the bank issued ones. Maybe it's not faster than Western Union now, but it's still cheaper. And I'll take bitcoin over paypal any day.

usualy transaction become slow if price of bitcoin going up or down so many traders become arbitase. it is just my opinion.

The problem is, the next bus is full aswell and the one after that too... there is just no way that bitcoin can support more people than it can now without scaling.
I fully agree with you that bitcoin is better than paypal or any bank but that doesn't mean it can't get even better.

Okay, what mushroom are you on?
The thread clearly states about transactions and not about the rise and the fall of bitcoin value. Seriously, is it really that hard to read what the thread is about? ???

People will be always complaining. I know people who are angry because Bitcoin is not confirming the moment they his "send" button.

And to we will have some pretty amazing upgrades soon. To name a few:

1. There's work being done on hard fork code to increase blocksize.
2. Implementation of Segregated Witness is also on the way.
3. Separation of transaction and signature data is coming.
4. Lightning Network could potentially change bitcoin forever.

There will always be a bus that has one or more available seats. It is, understandably, at a very inconvenient time.

You are right sometimes transactions take too long to be completed,i am waiting since yesterday to receive 2 payments..this is what i dislike most in bitcoin but it is not enough to prevent me from using it.

its been almost an hour since a block now, but yes I agree we will always just end up tolerating this because what Bitcoin offers is amazing just inconveinient...  :-\

I am not agree with you, bitcoin is going slow no doubt, but as you say that if we are not saving our bitcoins and utilize it than bitcoin price suddenly grow, i think you are wrong, if you know that we are save our bitcoin its mean people are buying it and than they save it now, so that why bitcoin price is going up, if we all are use our bitcoins and sell it now than suddenly price will be come down. In this way, bitcoin's price never increase, and the saving way is the best for increasing the price.     

The block size capacitiy is too small. The block is almost more than 990 kB each block now. That causes long confirmation time.

Yeah, nowadays the transactions are too much slow, I will never try any other coin as it is bitcoin only which satisfy me for investing in there, the developers should have to work for fixing it.

If you pay your friend, he can wait. I have to pay my purchase, if that payments takes a day to confirm, I will not receive the goods in time.

Is there any plan to implement the 2MB block size increase as promised by some Core representative agreed in the Hong Kong meeting?

No. A higher block size limit does not solve this "problem".

Transactions are not slow. The transaction time is the same as it has always been (near instant). Please stop posting nonsense.

A implementation was not promised and the people who were at the Hong Kong meeting are not Core representatives. They can and have only represented themselves. Learn the difference.

Double quoted for emphasis!
There is no bitcoin inc. or official anything. It is one of the most important features of bitcoin. NO ONE HAS MORE POWER THAN YOU DO. It is the choices of bitcoin's many users who decide what will be adopted.  not a few guys in a meeting. You may be thinking of dollars and traditional banking. In that case you decide nothing. You are a "little man" and only a rich person is wise enough to make decisions about your money.

Hrm...

Well, I guess we've tossed out the white paper in favor of some populist "NO ONE HAS MORE POWER THAN YOU (barely literate sig ad penny farmer) DO" mantra.


Do you honestly think the miners in HK thought they were negotiating with just a few random individuals that had no influence on the direction of the Core client?

If they did think they were negotiating with representatives from Blockstream and Core... how do you suppose they feel now about having their agreement torn up and thrown in the air like confetti?

Not so great, I imagine.

https://i.imgur.com/S89dQkA.png

kindly try to sent bitcon from blockchain wallet to other wallet,and you can see its fast or slow,i think bitcoin tranaction have faster than other transaction,esspesially paypal or banks transafer. if you still thnk that bitcoin transaction too slow,check your wallet,or change to other wallet.

proper fee is the correct fee you need to pay to not get any delay and be in the queue among those that have high priority, but what if the demand is so high and it increase so fast, that the increase in fee need to be done between each transaction? even proper fee would not work in this case, because by the time you pay your fee and send the transaction, now the proper fee will be higher than the previous proper fee, this thing is fucked up...lol

Bitcoin transaction are actually very fast. Instant. The thing that can make bitcoin slow are the confirmations. Which vary from 2 - 8 confirmation (this differs per company)

The problem is that for the same amount of fee, you do not know if you can get confirmed in 1 or 20 blocks.

Bullshit, Paypal is definitely faster than Bitcoin, it's pretty much instant. Bitcoin is indeed faster than bank transfer, but generally it can take a while until you get like 3+ confirmations on your transaction..

Paypal is faster to transfer their internal USD tokens but the actual payment takes some weeks, even months to finalize, and can be revoked. Bitcoin payments are usually finalized after 1-6 confirmations, can't be revoked after that. Still Bitcoin is slow, like this block yesterday that took 1.5 hr and you can't do nothing but wait.

When the Paypal fully adopts the bitcoin, the bitcoin transaction through Paypal will also be instant.

At a high level, a transaction is only confirmed when it is permanently included in the Bitcoin blockchain.

we dont need better coin,for me bitcoin already fast,its for payment,if i pay something when i buy something on online shop,i just need some seconds to get my services,like pay a bill. but for money transafer,yes i agree,bitcoin too slow.

paypal still need confirmation from network,just like coinbase or bitpay API,paypal will DO this way so there's nothing "instant" word unless they are enabling 0 confirmation

I don't believe that bitcoin is slow. Actually when I send my bitcoins to my blockchain wallet in less than a minute it is already transferred. But maybe you are not using blockchain wallet then there will be delays because other wallets need many confirmations. But for me it is fast, you may also change your wallet to blockchain to experience a much faster transaction.

Even though you can see the transaction within a few minutes, it will take some time to confirmation, depending on the network congestion.

Slow?  When I bought my first bitcoin, everything went so quick and simple.... it took like 4 hours for the whole process. I was lucky to start a new wallet.

Timeout Bitcoin-translation, using standard size of the commission, can take at this time is quite long vremya.Uvelichenie committee size can speed up your operation, but the transfer could still take more time than usual. It is not clear the reason for such a large load on the network, perhaps this is just another stress test Bitcoin network with a large number of small transactions. Similar problems once again raise the question of increasing the Bitcoin block size by which recently held a lot of heated debate.

Transaction of bitcoin slow? I think not  it depends of how much you send for me bitcoin transaction is smooth and fast I already had my bitcoin in just a minute .

yeah maybe you're talking aboutr an unconfirmed balance which suddenly appear on your wallet after someone sending an exact amount of bitcoin but i guess OP talking about the confirmation because so many company which accept bitcoin need atleast 1 confirmation,sometimes it took about ~15 minutes

i do not thing so that bitcion is too slow i think it is the fasted crypto currency of the world. it is number one currency of the world. you can compare the price f the bitcoin with other crypto currencies. bitcoin is still on number in all crypto currencies. you can see the present price of the bitcoin.

Usualy transaction are too slow if price of bitcoin going down or up because there are many people who send bitcoin between markets or if fees for transaction are too low.

At this stage of the bitcoin development, it should concentrating attracting more people, so the fee should be lower.

Agreed !! Transaction in bitcoin are very slow it takes too much time, If this problem is solved then many people get their money on time and  use their money on time where they want to spend.

I don't think that confirmation time is keeping out new users from using bitcoin. Have you tried bank transference, many people uses it, and its very slow from 1 to 3 days.

i feel like bitcoin is average in transaction times. the transaction broadcasts within seconds, just takess hours to confirm. so you should be pretty safe using bitcoin as long as its not a double spend. banks take way longer than a couple of hour.

For now i satisfied what speed of transaction of bitcoin even it takes 10 minutes or more but last month i experience of delay it takes  day before i receive my bitcoin in my wallet and i think thats why its too long to receive because the sender is paying below the default fee..
And i hope they fix it that even low fee they can confirm it fast..

no I don't think so. bitcoin is too fact, infact fast than any other crypto currency.

well, there are indeed faster digital currencies in terms of confirmations. so in that aspect bitcoin isn't the fastest crypto currency. or are you talking about something else?

Do you think the bitcoin confirmation is too fast? It is 10 mins. It is slower than most other currencies, for example, Ethereum.

Bitcoin is not slow when used for sending money abroad like remittances or gifts to friends and family. This is the biggest strength of Bitcoin - the very low to non-existent fees. Bitcoin can get a little bit inconvenient when used for daily shopping with small amounts like buying a cup of coffee or a sandwich because most vendors will wait for some confirmations in order to be sure that the transaction will be legitimate and this is where Bitcoin is lacking some speed. But for these situations people could use cash instead and be on their way without waiting.

yea, we are seeing that the transactions of bitcoin are too much slow but still it is much better then the transaction period taken by banks, we can easily transact our money within a few minutes and it sometimes takes some hours , but you may have noticed that banks take days for transaction your money from one place to another.

A ew days a go I also tried to transact about 0.14 BTC from my xapo to an exchange, and I was wonder to see that it took about more than 6 hours, I think it is not good for the future of bitcoin, the developers would have to do some better for it and have to secure bitcoin from all the issues like that, with that bitcoin can have chances to become global currency.

Bitcoin crypto-currency is not fast dear, it is slow as compared to other currencies.. Transaction on bitcoin takes at least 1-2 days. First we have to exchange it to other currencies because many countries don't accept bitcoin so it takes time.

I had a two hours transaction today from a blockchain.info wallet to poloniex with medium priority and 0.26$ fees.
I consider that as too slow.

Although bitcoin transaction are slow sometimes and it take 6 confirmations to complete, but most merchants online accept the payment on 1 confirmation only.

i agree that it is too slow to use the same way as i use credit card. but for internatinal money transfers it is extremely fast!

Spoiled brats, go complain to your bank that takes 4 days for a transaction to settle.

Isnt the 10 minute confirm time enough for ya?

yep, international transfers can take very long, but where i live even interbank trasactions are faster than 4 days. yet, not even close to btc!

I don't know about a bank that takes 4 days to settle a transaction but I do know that money transfers takes somewhere along half a day. And comparing that to bitcoins, it's definitely a lot better.
Some people just do not know how to pay the profer tx fees that's why their confirmations aren't only 10 minutes, rather it takes a lot of time for them.

I think those transaction would depend on you proximity. Example in banks, it would take longer if you are transacting in a different bank from where you made your account. I think the same principle is followed here?. Depends on where you made your transaction.

In my experience the longest time i had to wait is 1 hour. Especially the confirmation. Except for yobit as to it has many tacticalities and updates

yes it is a fact but it is not its nature. and specially when halving is approaching. now i am warring about the present condition of  the bitcoin. although it is good if bitocin can maintain itself stable like the present position but usually in present condition the bitocin price should be boost up for all time high price.

Unluckily,i have to agree hundred percent with you.
Last night i've been waiting 3 hours for 1 confirmation,and now im waiting about 2 hours,for 1 confirmation too.
It is probably because too many ppl transfering,or rather that mining gets less profitable.
I hope it will get fixed,i need faster transactions!

It seem pretty fast to me, usually around 15 to 20 minutes for confirmations. Maybe there is a coin that would be better, but I don't think bitcoin is going anywhere.

Neither one of you know what you're talking about.

Stop posting bullshit and learn how to use Bitcoin properly. You don't even know the difference between transaction and confirmation times. In addition to that, your reasoning is horribly wrong. The primary reason for which your transactions (which are near-instant) do not get confirmed within the next block is because you're being cheap with the fees.

Transaction times are near-instant, confirmation times are 10 minutes on average (your 15-20 minutes is normal). Anyone who posts here without knowing the difference is either very ignorant or a signature spammer (false complaints just to boost post count up).

have you tried paying higher fees for your transactions? i too sometimes have to wait for confirmations but i don't really
complain about it, miners prioritize high paying transaction fees and the cheap ones is the second priority, it wont hurt you
adding more transaction fee to speed up your confirmation and realize that bitcoin transactions are not slow.

yes its also seems to me very fast. if you are talking about he price increase then view the previous 3 months record and then compare it to other crypto currencies then tell me either they are slow or fast.

that's right just adding more few cents in the transaction fees won't hurt people's wealth,few cents can't even be used to buy cola and why need to wait transaction longer while few cents could help,but there's still exist people whose stingy enough to use 0.0001 fees nowadays unfortunately and keep complaining

This thread was created to say the transactions are slow but i have experience it. It is really as fast as it can. The price is very slow in increasing now a days. Few weeks back, it really increased quickly to $800. But now a days it is very slow in increasing.

This time I think the bitcoin transactions and confirmations are getting faster right now , I have almost 10 transactions before and I received each of them in just 15 or 20 minutes I think the good day with bitcoin for this year is starting .

Yeah i experience too past 2 days and now that the transactions are very fast.. and i think this is because many miners are online right now thats why the confirmation is very fast..

That is true,i have been waiting for long yesterday,but now i got it all.
It is really faster now,transactions which need 1 confirmation get's confirmated in about 10-15 minutes now.
I like this ;)

maybe 10minute for a single transaction is quite long if you are paying for a snackbar but i see it on different point of view i think it normally makes our transaction secure and puts it inside a chain where it is not only permanent but also they are verified by nodes so for this kind of security the 10min time is worth

That is good and i think confirmation of transaction is very usual in online that they need to secure all our transactions and they need to confirm if the other address is legit and there are no online transaction like bitcoin are instant.

I dont know what really just happened but it looks for me like bitcoin transaction's are going faster and faster!
I did some transfer which need's 2 confirmation,and it got there in just 2 minutes,how is it possible?
I have been waiting few times about 3-4 hours for 1 conf,and it goes so fast now,smooth as hell!

I think bitcoin already upgrade their system because there are more users which is complaining about the long confirmation of their transaction and i think bitcoin should always gather the issues and concern about their services what is they need to improve to impress all the users.

Bitcoin transactions are now faster than ever. When I tried transferring my bitcoin from blockchain wallet to my other blockchain wallet in an instant it is transferred. There will be delays if you send to or from an external account, but the delay is no longer within hours but only in minutes. If it will reach an hour 1 hour is a maximum time for waiting.

I don't know why people are always ranting about bitcoin's confirmation taking a lot of time. Tbh, just move on to another wallet. Maybe the one that you have has a not-so-good service. Whenever I send bitcoin, it only takes 2 minutes. The maximum time is 10 minutes before the other party receives it. I use coins.ph (it's for the people of Philippines).

The only thing that can be accelerated, if the recipients are waiting for confirmations - is to get to the nearest block. If the Commission is sufficient for normal priority transactions - this is a sure sign that it will soon be included in the list on the pools, and will not hang out for hours, waiting for an opportunity, when few transactions on the network, and pools that have no hitting inserted.

The confirmations may take a while depending on a website but in general; Bitcoin transactions are indeed the fastest. Once a confirmation has been made then you are 100% sure that you're going to get your money. If you want to make a quic withdrawal to buy a sale why not plan ahead so that you can buy it when the sale is ready.

how you can say that bitcoin transaction  is too slow  ??? i also use bitcoin and i think bitcoin transaction is much more better than other like banks and bitcoin transaction is too faster .

yes it look fast if we examin the last three monts progress. but what about the last 2 weeks. while halving is approaching expecting tomorrow or day after tomorrow. i think for the last 2 week the bitcoin is stick. because the people were expecting tha the rate of bitcoin will cross the 1000 USD limit. but still nothing of such things are happening yet.

But you have to exchange your btc in the currency that is accepted in your country and this will take a lon time, Isn't it?? If you can buy goods online then transaction is very good for user.

True, and if whats slow about bitcoin is in the exchange from bitcoin to currency then thats more on the banks, brokerage, or exchange rather than the bitcoin itself. Bitcoin is very fast for making payments as bitcoin allows one to move millions of dollars in just mere seconds!

But i can able to exchange my bitcoin in currency in my country without any problem because in my wallet there is a rules that you will need to follow to exchange it easily and without delay. I think in your case there is a time or rules you can not follow that is why you encounter that problem

Transactions were not slow, at rare instances such situation arises. Other than this only due to network problem such slow transaction happens.

Thing is confirmations take time the transaction itself takes time. It would be good if there was some way only 2/3 confirmatoins are needed before a double spend risk is ogone.
But you can also check the fee of every transaction.

Hi, illodin, what do you mean transactions are too slow? Well I think it depends on the amount that you sent and how long did it take by the way before your transactions were processed. Usually it only took 2 minutes to 30 minutes before my transactions  were processed but sometimes it will took 6 hours or more if it has a problem or the transaction was not found and I have no idea why it happens sometimes. I dont know if it is because of the wallet i am using or because of Blockchain.

It does not depend's on amount you have sent sometimes
sometime ago i have send about 0.003 and i was waiting for it around 12 hours,and tell me how it is
possible to wait so long,for such an small amount to be confirmed? it is just annoying,luckily it is fast now.

Too slow in what? I have not come across anything like with BTC. The transaction is too fast. Even when you exchange the btc to your currency, it is really fast. It depends on the traders reply. I have experienced no issues on this. Very quick, safe and secured.

It's might be slower than other cryptocurrencies, but it's also more safer than others. If faster is more valuable than safer, then you are right about it.

At the current time point of the bitcoin development, we should concentrate on attracting more users and improve their user experience. So slow confirmation is not acceptable.

Well for me, Confirmation is not that slow. I usually got 3 confirmations in just half an hour. I dont know why you are experiencing that delay in your transaction. And we cant deny the fact that sometimes, confirmations are slow. My slowest transaction  took about 12 hrs before 1 confirmation. That was when blockchain was upgrading. But so far now its fast.

Transaction can be too slow or delaying when you add low transaction fee. if you add valid fee for valid amount of bitcoin transaction then the transaction will done fast enough. I think OP just faced that issue thats why he is telling bitcoin is very slow. otherwise bitcoin is faster then any other payment system.

even you fulfill the minimum recommended fees, there's still possibilities for the transaction to got a delay,when bottleneck happening,too many transaction need to be confirmed when the block only max 1mb it'll result slow transaction

Yeah, I am also noticing that the transactions of bitcoin are faster enough, with bitcoin I can send and receive any amount of money only within a few minutes while if we look at other transaction systems like western union and banks then there a lot of problems at there and the time of transactions take days.

Can you usually get confirmation in the first few minutes after you send the money? I do not have such experience.

Bitcoin will never be a direct payment method, it will be a third-party guarantee or a speculative commodity

i do not think that bitcoin transaction is too slow   , because i also use bitcoin and i do not face to any problem in bitcoin like slow transaction etc . bitcoin transaction is too faster and bitcoin  is very much better then other currency .

Transactions are not slow but the thing is that first you have to search a honest person who will exchange your bitcoins into dollars or other currencies than you will send your bitcoins to that person and than he will give back to you your amount, this procedure can take a time Isn't it?

I think we are just used from the past that is going fast. The ledger is getting longer. Actually it is still faster than any money transfer company. I would still prefer bitcoin.

Yes, the time it takes for the network to confirm securely that the transfer took place takes a lot, compared to other forms of money transfer, such as credit card.

However, the trust that the Bitcoin Blockchain conveys is a very positive point, not to mention that the fees charged by Blockchain to effect the transaction do not compare those charged by credit card companies.

If you are looking for fast transactions, but which are still in beta, there are Altcoins that focus on speed of transactions, such as Vcash (XVC), which has the zerotime technology.

no transactions are not slow it depends number of blocks, and when fined a block confirmation need from 1 minute to 30 min) max time is 1 hr

And some time the transaction fee also effect the transaction. when you add low fee for transferring a lot of bitcoin. then the transaction will surely stick for long time. and even some time it never confirm and again the funds reverse to sender's wallet.

what dou you mean slow ? the transaction is fast or its only just your internet connection so that you can't see it or because you didn't pay enough transaction fee pay the fee or sometimes it takes 3-6 confirmation because its totaly credited on your account and  I don't understand why people keep on complaining about it.  ??? ??? ???

Alright...
i have changed my mind,these confirmations are taking really,really long.
I have been waiting today 5 hours to get 0,035 confirmed,you call that fast? hell no

I too have experienced it. even up to 2 days of my transactions can only be accepted. One of the problems is the amount of the fee we have to pay. but still the fastest transaction takes about 10 minutes more

It all depends on the fees that were placed along with the transaction. If they were too small, then you're out of luck and it will take a while for the transaction to confirm due to it being a lower priority. If they were normal or high, then maybe you're unlucky and it's taking a while.

But for everyday transactions Bitcoin is definitely too slow. If I have to wait 10 minutes to buy a soda and a candy bar, I would rather pay in fiat.

This is thing to consider to make instant transaction. As All transactions are one way so why put on wait for waiting if its already showing on explorer.

It depend on which block should have to mine to verify transaction. As in general it took 10 Minutes to mine one block. Also it depend on network difficulty, block height, and total hashpower.

All transactions do already come through instantly. The only thing that we don't have control over when sending or receiving transactions, are the confirmations. If you trust a certain party or person that sends you some coins, then you can even spend the unconfirmed transaction/coins if you so wish.

It doesn't necessarily have to be something to do with the internet connection or transaction fee. I have on a few rare occasions had transactions take close to 1 hour for 2 confirmations. And yea it can be quite frustrating if that happens when you urgently need a transfer.

Maybe transactions are slow comparing to how fast you want them to be, but I don't know any transaction which is faster than btc one

i agree with you , you are right that bitcoin transaction are not slow , i think bitcoin transaction is much more faster than other currency .

I do feel paypal is faster than btc, however these are ofcourse completely different things, and uncomparable with each other.

the present price and the increase in the price of bitcoin can proof this statement wrong. i think bitcoin is too fast as we compare it to other currencies. and if we lock the previous record of the bitcoin.

you are right that bitcoin transaction are not i also use bitcoin and i do not feel that bitcoin transaction is slow i feel that bitcoin transaction is too much faster than other currency and i think you are right that due to the network problem such slow transaction happens .

Not sure about street transaction but very confident about all your plastic and online transactions.  They are actually quicker than you think; 1 confirmation can use at most 15minutes for its be processed and it all depends on the block size. Otherwise be patient, you assured your transaction will happen anyway.

Can anyone help me with one thing?
im wondering about transactions,exactly about confirmations in let's say for example 2025.
In 2025 we will see a big % of bitcoins already mined out of pool,so mining will get less profitable.
So if there will be less miners (probably) and more transactions,what is going happen with confirmation time?
Im just not sure about this,anyone got some idea?

Blocks will be mined every 10 miniutes on average, regardless of more or less hash power.
The difficulty is adjusted every 2 weeks approx.
So as long as any hash power change is not too vast and sudden, then the difficulty will trail closely by.
That is also why blocks are still 10 miniutes now, as they were 5 years ago, even though hash power has continually grown.
(sudden hash power changes can disrupt block times adversely, and is valuable as part of a hard fork consensus mechanism)

There is no reason mining should be less profitable if there are more transactions.
More transactions should equate to more user, more users should equate to higher value, higher value should compensate less block reward.

Confirmation times wil depend on mempool backlog, or not.
If bitcoin has adequately scaled, then the mempool backlog will be low.
If bitcoin is still stuck at 1mb as now, then the mempool backlog could render bitcoin unusable.

 ;)

Yeah bitcoin transaction is fast but people says bitcoin is too slow because the transaction is delay. Delay in confirming the transaction not to say bitcoin is too slow because confirmation of the securities is to check if your transaction is accurate.

Depending upon the different mining pool there will be small variation in the time for confirmation. But every transaction provides a unconfirmed transaction status within a very short which itself gives the assurance that bitcoin is transferred.

I have to agree with this statement.  Even know the confirmations are a little on the slow end sometimes, there is always a confirmation that the transaction is underway.  Very seldomly do you have an issue with the transfer not being completed once you get the confirmation that there is a transaction.

I never think about the faster or not of the bitcoin transaction but in my theory. The transaction is an instant no needed a time for this but different for the confirmation of the transaction in every place is always needed a time, you wrong ,all of the transaction it's same. nothing get too fast or slowly.

i think the transaction problem should be solve very quickly. actually it is creating problems. for example a person is doing shopping and he has to pay in bitcoin. so how much he will stay there for conformation and the shopkeeper  is not ready to let him go with out conformation.

Transactions are not slow. It is the number of confirmations that somehow slow down your transactions. Confirmation differ from one site to another some have one, others have two, three, four, five , six, seven, and eight. But make sure to include a miners fee to you every transaction so that it will be more faster. Without the fee you are waiting longer than you will expect.

That is correct, you do not expect for free. But the confirmation is not that too slow there is a minimal case but not always. Because base on my experience i can not encounter the slow transaction with bitcoin.

I think faster transactions entail higher fees, that is your transaction will be prioritized in the queue. It is really a bit of a hassle to wait for your transaction to be confirmed if you are using it on a physical shop. I remmber reading something that paying for a drink took 10 minutes before the transaction was cleared.

We must check the recommended fee before processing the transaction and recommended fee is always different.0.0001btc is a base fee and mostly this is not the recommended fee thats why transaction stay unconfirmed for long time

I think bitcoin is quite faster than other payment. even in terms of transactions and how to get it. other than that bitcoin has a small fee. if you say that bitcoin is slow, then I would ask if there is faster than the bitcoin? may indeed occasionally bitcoin will be slow, but I guess it is because so many people using bitcoin

if you need faster transactions the simply switch to a wallet which accepts 0 confirmations because bitcoin transfers are instant but it takes time only at confirmations process.

Actually i never have an issue about the slow transaction until now. I mean, my transaction always fast, at least got 1 confirmation on 5-10minutes. For me, bitcoin is not slow.

Well for me, Confirmation is not that slow. I usually got 3 confirmations in just half an hour. I dont know why you are experiencing that delay in your transaction. And we cant deny the fact that sometimes, confirmations are slow. My slowest transaction  took about 12 hrs before 1 confirmation. That was when blockchain was upgrading. But so far now its fast.

Confirmation time is one of the huge perks of having your Bitcoins in a trusted online wallet. Whenever I pay for stuff via BitPay and send the coins from my Coinbase wallet, the transaction is completed instantly, the second it is broadcasted through the network even with 0 confirmations. And that's because, Coinbase automatically confirms with BitPay that I indeed have the amount and that it's been sent. So no waiting time at all  :)

transaction without confirmation mean the funds actually still owned by the sender,when it got rejected the funds will get back to the sender address so we can't actually call it a transaction or finished transaction

It never happened with me that a transaction was rejected and sends came back to me even if i have not paid the recommended fee.
Yes my transaction sometimes stayed unconfirmed for 7-8 hours maximum..but never rejected

yeah it takes time for the confirmation of transaction but everything about is good and i am all satisfied with it ! new coin ? noo please, it wont get that high as bitcoin is !

there is no need to wait days for the transaction to get rejected and the funds show up again. you can just double spend your coins, but with this time an appropriate fee included. if this transaction gets confirmed, the other transaction will simply vanish.

it is still faster than bank wire transactions

And money transfers like western union.
Well, I would admit that sometimes the transaction takes more time than what is to be expected. Some people, however, are just not paying enough tx fees that's why their transactions are taking quite the longer time required.

That may be "seldomely", but the sender can force it to happen. I can easily send you a payment and double spend it before it confirms. If you didn't wait sending me the thing I paid for, you get nothing.

The only way that Bitcoin can compete against payment transfer giants such as VISA and whatnot, is by the 2 layer solutions such as the Lightning Network, because on chain transactions will never be useful for fast cheap and big volume action, this will always require stuff like Lightning. SO once we have Lightning a lot of this will be fixed.

I think so. Maybe Visa should integrate bitcoin in its network. That is almost instant transactions for fiat.

yes most of the time the conformation is not rejecting. but some time it create problems. some times it need so much time to conform the transaction. and you will wait for that. that is the only problem other wise the transaction never rejected.

I am wondering if there is any faster altcoin which is worth investing in, suggestions?

if you don't add an appropriate fee, then the waiting can become annoying as pools simply ignore your transaction. that's why you always need to add at least 0.0001btc in fees. if your transaction size is relatively high, then you will need to up your fee even more.

The Ethereum is very fast. The block time is around 14 seconds. So you almost get instant confirmation.

I think it is because actually,ethereum is pretty large of course,but not large as bitcoin.
i guess there are many big mines on ethereum but probably the transaction amount is greatly smaller than on bitcoin.

That is right. There are fewer transactions on the Etherum network. But there is no block size limit there.

All lies. Bitcoin has no competition.

Besides, you aren't supposed to use BTC for transactions, it's for hodling. Soon, it will absorb all the world's wealth and make us very rich.

Tl;dr: Quit yer bitchen.

What?? what do think will happen if bitcoin users will just hold their coins? do you think the price will just keep
rising? wake up!!! bitcoin will collapse without circulation without transactions. bitcoin is made to be used and not to
be held and just wait for the price to increase.

of course the confirmations are really slow, especially if you need to wait for a few of them, it sometimes really pisses me off though at least it is really reliable and safe

There are many faster altcoins and you can create another one yourselves. I dont think it is worth investing in any altcoin, these are pump and dump coins to take advantage of these newbies investing in altcoins in a hope to get rich. Basically if you have no use for a coin, it is not worth buying it.

i think from the slow here the statement mean that the transaction process or the exchange of currency take a lot of time. and that is a fact there is no doubt about this because bitcoin transaction and conformation take a lot of time.

The transaction of bitcoins becomes irreversible and so unable to reject, no matter how long time will take to get the first confirmation, once you click and confirm the send button from your wallet, so we cannot call for a transaction as rejected

Mining gets less and less profitable every halving,and there are more and more people using bitocoin every day.
That is what probably causes the confirmations to go so slow,i dont think we  can change this except buying huge mine by ourselves ;D

I don't think slow, my transaction delay is around 2 mins and it's not a problem for me and for my friends for example, but i know that many people have delay around 10 mins and it's not so fair.

I also conduct transactions with bitcoin and the time it takes about 10-20 minutes. But once upon a time and this is the fastest transaction I've ever done that About a 1 min. I think if you send a transaction from the exchanger will be less time consuming because of the process we have to check on their website first, not as we send from wallet. :)

I think the delay of the transaction is not the problem of bitcoin because it is online there are more confirmation to be approved by the securities/administrator. And i think there is no instant transaction in online.

Tonight it is extremely slow. I sent a payment and it is 1 hour and 15 minutes now waiting for at least 1 confirmation to come in.
Never waited this long for just 1 to show up. Anyone know what the hold up is tonight?

If you pay more than the minimum relay fee and a little bit more than the estimated fee for confirmation in 25 blocks then your transaction will get included in a block within an hour or two, almost guaranteed. Free transactions (the ones without a tx fee) still get included provided the priority is very high.

I included a 0.0001btc transaction fee with a 0.0069btc send. This I could not modify, it was set amount by the wallet that I use.
Is that enough for it to be confirmed hopefully in the 2 hour time frame of 1st confirmation?

Yah. sometimes confirmation is too slow because the transaction of bitcoin you choose is transaction that has a small fee . it depends on you to how you send your transaction in bitcoin. Because there are option if you want fast you need to choose the high fee, but if you choose the lowest fee you need to wait untill the  confirmation is done

No, the transaction is always instant and maybe the confirmation is getting a delayed but for 10 minutes it's normal nothing have any problem in there. you I sure your means the transaction getting delayed is the confirmation of the transaction.

You probably have a slow internet connection, I don't think there has ever been a transaction that took up to a day. However as the size of the block chain increases, we might have that, maybe 25 years from now.

Though there are altcoins that take less than 10 minutes but that's because they have a smaller blockchain size.

i agree with you , you are right that bitcoin transaction is faster than other currency and i think bitcoin just take 5 or 10 minute for confirmation and i also agree with you that bitcoin is not slow . 

I think the plodding pace of transactions appears to be due to blocks reaching their upper size limit of 1 megabyte with more frequency, and unconfirmed transactions clogging up the “memory pool,” a distributed database that lives on every computer running bitcoin software.

10 minutes is decent. We don't want something too quick or that will create no traffic, which is what the miners like. 10 minutes is good, but what's not is when blocks take 2 hours to mine. That's what sets me on edge. There should be a fail safe for blocks after miners have spent 30 minutes searching. But afaik that's not possible.

although it take more than 10 min but 10 min is also enough. how can Taxi driver stay for you for 10 min so that you can transfer bitcoin to him. or how can you stay at a shop after shopping or the shopkeeper will stay for you to transfer you bitcoin to pay the bill.

What you mean with "we need to wait untill the transaction of confirmation is fast"? No matter how much you wait, if your transaction has a decent fee tied to it, then the chanses of getting your transaction confirmed are much greater. But then again, it's still up to the pools to include your transaction into the next block.

Well the transactions are pretty quick, but, if you're making a payment with it and it's of a time sensitive nature and having to wait for multiple confirmations may cause issues.

But there are work arounds, paper wallets, preloaded ready to hand over to seller, much like fiat.

hahaha. you must be kidding or you don't know about transactions and their way of work?
a transaction has no connection to the sender and the receiver. when someone send some bitcoin to a bitcoin address, then it is done from the side of sender. now it is up to the main system to done that transaction.
some time transaction will get slower because of block size. and some time transaction get slower because of the transaction fee sender paying.
that's it.

That is right, sadly.

Confirmations are taking ages. I wish the devs were smarter and coded bitcoin faster at first, so we wouldn't had to use coins like Litecoin. Who betatested this thing? Confirmation times are definitely not acceptable at all. Prices can change too much while i wait for my damn confirmation.

you are totally right that transaction is faster than other currency and i also using bitcoin and i know about bitcoin transaction its transaction too much faster you are right that take 5 or 10 minute and its time is too short than other currency .

Even now the transactions were not that slow as few users quoted. Nothing to get disappointed, within a minute every transaction gets a status of unconfirmed transaction which itself primarily confirms the transaction.

but i think the primary transaction also take more that 5 minutes. i think 4 to 5 mints  are still more time for conformation. i think the time duration must be in seconds and not in minutes.

It is still much faster than many international momey transfers through banks. :)

I do not really have any knowledge with mining at all, since I gave up when I found it so complicated on how to set it up. But from what I've read before, wasn't it that blocks are mined every 10 minutes?

10 minutes is too much. if you want bitcoin that people should use it then i think it is important that the trisection period must be very very little. may be in second. because the customer and the trader do not wait for such a long time.

The current block times are not messed with since Satoshi released the code to the public. And I am quite sure that it will never happen. I agree that some times it's quite annoying when you want your tx to get confirmed quickly, but there is nothing that we can do other than waiting. Some times I get 3 confirmations within 10 minutes, and some times I need to wait more than 30 minutes.

if you are transacting with some you trust then you shouldnt have a problem waiting for confirmations because they will come eventually. however most people dont trust the other party and therefore require the confirmations to show its a double spend, this is the weakest point of using bitcoin in my opinion. (waiting hours for your money)

hahahaah !!!! Bitcoins may be faster than international money transfer through banks but as a digital currency it's transaction are quite slow. People have no patience in this fast phase generation. Some of the Companies don't want to use bitcoins due to it's slow confirmation of transaction.

You can try Ethereum, the first confirmation is usually within 20 seconds. It is much faster than most other coins.

I think cryptocurrency have nearly the same speed transaction with the bitcoin itself. even if you find altcoin faster than bitcoin.
I'm sure you'll still use bitcoin of the altcoin it. bitcoin is more accepted and more popular. you will not be able to use altcoin alone

well bitcoin speed is really great in my opinion the transactions are nearly instant in my opinion while confirmations are kinda slow, i hope there will be something done about it

I didnt noticed a slow into the transactions, i had mooved some bitcoin some minutes ago and it took around 15 minutes to get 1 confirmation and my money credited, soo i believe its getting faster as the fees is high, paid 50000satoshis and were very quick.

Nearly?I think not for that, all of the transaction is same, nothing has any different in them maybe on the speed section, the basically all form of the transaction in the world it's always instant. just, for example, the transaction of alt and bitcoin is same but different on how many long they can greet a confirmation.