Saying hello to Bitcoin fans!

[BitBatFan]

Hello everybody!
I'm huge fan of bitcoin and other cryptocurrencies since 2013.
I was reading this forum for over a year, but didn't register (don't ask me why)  
In this time I had only good experiences with bitcoin as payment method. I read lots of people got scammed...that's a shame.
The only thing I don't like at bitcoin is transaction time. Why 10 minutes?  
If it would be like dogecoin, it would be fantastic. Is this time fixed, or can be changed?

[roslinpl]

Hello everybody!
I'm huge fan of bitcoin and other cryptocurrencies since 2013.
I was reading this forum for over a year, but didn't register (don't ask me why)  
In this time I had only good experiences with bitcoin as payment method. I read lots of people got scammed...that's a shame.
The only thing I don't like at bitcoin is transaction time. Why 10 minutes?  
If it would be like dogecoin, it would be fantastic. Is this time fixed, or can be changed?

It's not always 10 min.

And I don't think that this is a problem ... you can always pay higher transaction fee if you like to confirm your transaction faster.

It's still a lot faster than bank transfers


Best regards.

[SpanishSoldier]

Hello everybody!
I'm huge fan of bitcoin and other cryptocurrencies since 2013.
I was reading this forum for over a year, but didn't register (don't ask me why)  
In this time I had only good experiences with bitcoin as payment method. I read lots of people got scammed...that's a shame.
The only thing I don't like at bitcoin is transaction time. Why 10 minutes?  
If it would be like dogecoin, it would be fantastic. Is this time fixed, or can be changed?

It's not always 10 min.

And I don't think that this is a problem ... you can always pay higher transaction fee if you like to confirm your transaction faster.

It's still a lot faster than bank transfers


Best regards.

Wrong information. Higher Tx fee does NOT make a Tx confirmed faster. It is dependent on how fast miners are finding blocks. Miners generally include all Tx available in mempool that offers standard Tx fee in LIFO mode.

[notlist3d]

Hello everybody!
I'm huge fan of bitcoin and other cryptocurrencies since 2013.
I was reading this forum for over a year, but didn't register (don't ask me why)  
In this time I had only good experiences with bitcoin as payment method. I read lots of people got scammed...that's a shame.
The only thing I don't like at bitcoin is transaction time. Why 10 minutes?  
If it would be like dogecoin, it would be fantastic. Is this time fixed, or can be changed?

It's not always 10 min.

And I don't think that this is a problem ... you can always pay higher transaction fee if you like to confirm your transaction faster.

It's still a lot faster than bank transfers


Best regards.

Wrong information. Higher Tx fee does NOT make a Tx confirmed faster. It is dependent on how fast miners are finding blocks. Miners generally include all Tx available in mempool that offers standard Tx fee in LIFO mode.

Higher fee paid makes it more likely you will be in a block found sooner.  But you are correct it will not speed up blocks being solved.

[BitBatFan]

What about hacker at Bitstamp who paid (i think) 1 BTC to transfer bitcoin instantly to his wallet?
Was this huge fee responsible for so quick transaction?

[Amph]

What about hacker at Bitstamp who paid (i think) 1 BTC to transfer bitcoin instantly to his wallet?
Was this huge fee responsible for so quick transaction?

yeah it would be first in the queue in this case(or at least chance ar every high), but you still need to wait 10 minute as average(for the first confirmation), you can't do nothing about that

[roslinpl]

Wrong information. Higher Tx fee does NOT make a Tx confirmed faster. It is dependent on how fast miners are finding blocks. Miners generally include all Tx available in mempool that offers standard Tx fee in LIFO mode.

Your information is wrong... and it's hard to believe that Senior Member don't know that.


You are trying to tell me that while paying higher fee your transaction won't be confirmed faster?

Well..

Higher transaction fee = higher priority = transaction will be confirmed faster

priority = sum(input_value_in_base_units * input_age)/size_in_bytes

So yes - my information is right - pay higher fee to increase a priority of your transaction.

If you want to argue - send 0.001 with 0.0001 fee and send 0.001 with 0.0002 fee one after another. Then tell me which transaction was confirmed faster

This is way Bitcoin was always meant to work: more fees = faster confirmations; less fees = slower confirmations. At first, when transaction volume was lower, it didn't work that way; most or all transactions were confirmed quickly regardless of fees, and apparently some people were fooled into thinking that was normal, and now that the fee system is working properly, people are complaining that it's broken.

Higher fee paid makes it more likely you will be in a block found sooner.  But you are correct it will not speed up blocks being solved.

We were not talking about block solving speed. We are talking about speed of transaction = time period from when you send to when receiver can use received coins.

(...)
The only thing I don't like at bitcoin is transaction time. Why 10 minutes?
(...)

What about hacker at Bitstamp who paid (i think) 1 BTC to transfer bitcoin instantly to his wallet?
Was this huge fee responsible for so quick transaction?

yeah it would be first in the queue in this case(or at least chance ar every high), but you still need to wait 10 minute as average(for the first confirmation), you can't do nothing about that

Sorry, but you are not right ...

Just some examples of recent transactions:

https://blockchain.info/tx/cc61ecf31e689ba016f83bf56f00d9ac7f499047a5c08436c703b436bee4b0ae - 1 confirmation in 17 seconds.
https://blockchain.info/tx/414d29157b763b0ef5c885c8c72d4942cff31bd11b94f1c1b9b336b9794b957c - 1 confirmation in 1min11seconds


So well .. sometimes 1st confirmation need just seconds - when your priority is high your transaction will be confirmed in the upcoming block.

Also I know that sometimes it takes more than 30min to get 4 confirmations even when higher fee is included.

But point is - it's not ~10min but it depends on situation and paying higher fees will get your transaction confirmed faster than smaller transaction sent in same time as yours.

Best regards.

[Amph]

What about hacker at Bitstamp who paid (i think) 1 BTC to transfer bitcoin instantly to his wallet?
Was this huge fee responsible for so quick transaction?

yeah it would be first in the queue in this case(or at least chance ar every high), but you still need to wait 10 minute as average(for the first confirmation), you can't do nothing about that

Sorry, but you are not right ...

Just some examples of recent transactions:

https://blockchain.info/tx/cc61ecf31e689ba016f83bf56f00d9ac7f499047a5c08436c703b436bee4b0ae - 1 confirmation in 17 seconds.
https://blockchain.info/tx/414d29157b763b0ef5c885c8c72d4942cff31bd11b94f1c1b9b336b9794b957c - 1 confirmation in 1min11seconds


So well .. sometimes 1st confirmation need just seconds - when your priority is high your transaction will be confirmed in the upcoming block.

Also I know that sometimes it takes more than 30min to get 4 confirmations even when higher fee is included.

But point is - it's not ~10min but it depends on situation and paying higher fees will get your transaction confirmed faster than smaller transaction sent in same time as yours.

Best regards.

well i said "as average" i know that it can be much faster sometimes, but other times you may find that it take 30 min or more, in some exception even 1+hour(with fee)

[MRKLYE]

Hello everybody!
I'm huge fan of bitcoin and other cryptocurrencies since 2013.
I was reading this forum for over a year, but didn't register (don't ask me why)  
In this time I had only good experiences with bitcoin as payment method. I read lots of people got scammed...that's a shame.
The only thing I don't like at bitcoin is transaction time. Why 10 minutes?  
If it would be like dogecoin, it would be fantastic. Is this time fixed, or can be changed?

Welcome to the forums. Glad to see you've decided to unlurk yourself and become a part of the community.
Always be cautious on the forums and remember to use escrow whenever you can.
The bitcoin block times are 10 minutes for security I believe.. Although payment confirmations are instant but most places take 1 or more Block.

I honestly couldn't see the block times being changed in the future.. But perhaps I'm wrong.

Also check out Credits below if you are a BTC user. You can use them to claim free Credits without spending your bitcoin.
It's almost like a little gift just for being a crypto user.

[jacktheking]

Welcome to Bitcointalk! If you register in 2013 or 2014, you might be a Senior Member (or even Hero) now. You will be able to earn ~0.1 Bitcoin from signature campaign with those two ranks. Anyway, I see your question is being answered.

[Jeremycoin]

Welcome to Bitcointalk! If you register in 2013 or 2014, you might be a Senior Member (or even Hero) now. You will be able to earn ~0.1 Bitcoin from signature campaign with those two ranks. Anyway, I see your question is being answered.

That's not true, I made my account in 2014 and I'm still a Junior Member till now
I think what do you mean is, "If you register in 2013 or 2014 and become an active member, you might be a Senior Member (or even Hero) now."

[Ardenyham]

Welcome and it's good that you finally registered in the forum.
It's good here

[jacktheking]

Welcome to Bitcointalk! If you register in 2013 or 2014, you might be a Senior Member (or even Hero) now. You will be able to earn ~0.1 Bitcoin from signature campaign with those two ranks. Anyway, I see your question is being answered.

That's not true, I made my account in 2014 and I'm still a Junior Member till now
I think what do you mean is, "If you register in 2013 or 2014 and become an active member, you might be a Senior Member (or even Hero) now."

Hmm.. Alright so I missed the active part. I apologize.

Off-topic: Anyway, I register August 2013 and only started posting everyday in October 2014. I just reached Sr. Member last week.

[Xialla]

since 2013 and joining now? holy moly, where you was last 2 years? anyway, welcome and...10 minutes across whole world almost for free? on most secured network in the world? not so bad imho:)

[tyz]

In order to increase transaction time the block generation period has to be decreased. Some coins already use 1 minute block generation what in one hand results in many empty blocks, but on the other hand, the confirmation time of transactions is much faster.

[ikydesu]

Hello everybody!
I'm huge fan of bitcoin and other cryptocurrencies since 2013.
I was reading this forum for over a year, but didn't register (don't ask me why) 
In this time I had only good experiences with bitcoin as payment method. I read lots of people got scammed...that's a shame.
The only thing I don't like at bitcoin is transaction time. Why 10 minutes? 
If it would be like dogecoin, it would be fantastic. Is this time fixed, or can be changed?

Hello welcome to the forum
like me! i know bitcoin since 2013, i know this forum but not try to surfing and register(dont ask me why LOL).
10 minutes is fast transaction, maybe transaction volume is different with dogecoin.


~iki

[BitBatFan]

Thanks for warm welcome and kind words. 
Well I was reading some topics but I didn't feel any need to participate. Now, that's changed 

[notlist3d]

Thanks for warm welcome and kind words. 
Well I was reading some topics but I didn't feel any need to participate. Now, that's changed 

Glad they changed your mind!.  Its' honestly fun and very very addictive.  My log in time is lower then actual but it shows: 58 days, 19 hours and 0 minutes.

I think I have an addiction.... Hi I'm Notlist3d and I'm addicted to bitcointalk

[blumangroup]

Thanks for warm welcome and kind words.  
Well I was reading some topics but I didn't feel any need to participate. Now, that's changed  

Glad they changed your mind!.  Its' honestly fun and very very addictive.  My log in time is lower then actual but it shows: 58 days, 19 hours and 0 minutes.

I think I have an addiction.... Hi I'm Notlist3d and I'm addicted to bitcointalk

That isn't that bad 58 days, I have seen a few with 170+days. It doesn't tell the story though does it if you stay logged in forever and leave your computer few times a day that soon adds up.

Anyway OP I have had transactions as quick as a few minutes and as long as a couple for hours all high priority, basically luck of the draw isn't it don't let that annoy ya. Glad to have you hear and you have come of lurk mode after all this time!  

[chriswen]

Hi Welcome to the forum.

From my profile you can see I've been in the cryptospace for awhile.  But I haven't actually been actively posting.  I've had lots of lulls in activities.  Anyways currently I try to stay active in the trading sphere and its really exciting.  I'm really excited to see where Bitcoin will be in the future.