Bitcoin is too slow

[Barbut]

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.

[rizzlarolla]

"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

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.

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.

[Dabs]

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.

[iamnotback]

"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.

You can't fix a capacity problem with fees. If there are only 20 seats on the bus and 25 people that want to ride there is no ticket price where everyone gets a seat. You don't even know how much you have to over pay to get a seat. This is a bus business where customers are going to leave... especially when they discover there are many alt-bus companies that do the same thing better and for less and without capacity restraints.

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$).

If something doesn't make sense, follow the money to find the motivation.

I had linked to this in my first post in this thread, but here is the relevant quote:

It appears the Chinese mining cartel and Blockstream are in bed together because you can note that the Chinese cartel used the lame and technically incorrect excuse that the Great Firewall of China prevented them from approving larger block size increases of Bitcoin XT and Classic. But what is really going on, is as explained in my discussion with Professor Jorge Stolfi, that the Chinese cartel wants to be able to control the block size increase so as to maximize the equation for transaction fees.

How do you calculate that Blockstream is for small blocks  

Blockstream is for making sure they and the Chinese mining cartel control how fast the block size increases, so they can squeeze maximum transactions fees that the market will bear. You could read the Reddit discussion between Professor Jorge Stolfi and TPTB_need_war, which explained this.

[CraigWrightBTC]

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

[BigBoom3599]

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.

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.

[rickadone]

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...

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?

[Snorek]

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.

[Dabs]

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.

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.

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

[isen]

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.

[etparle]

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... 

[Oralmat]

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.

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.     

[RastoMan]

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... 

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

[gtglener]

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.

[Universat]

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.

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.

[EastSound]

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

[Lauda]

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

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

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.

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

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

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.

[RodeoX]

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

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.

[beastmodeBiscuitGravy]

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

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.

They vote with their CPUs, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism.

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.

[Jasad]

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

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.