bitcoin transactions - Slow OR Fast

[Digitalbitcoin]

Actually Bitcoin or any altcoin transactions are instant, they need certain confirmations after successful transaction to reflect amount in Wallet.

We can see transaction on wallet or ledger that such transaction is made or not, but as miner start to verifying it, generally takes 10 minutes an average to get confirmations.  BCZ of 1 block takes 10 minutes to solve.

But I think when we try to send any amount  to any person it can be send only when you have that much amount in wallet if not then you cannot make any transaction.

So why waiting to get amount clear after confirmations. Sometime it can take more time to get confirmed.

[btc-facebook]

As we know , bitcoin need to be confirm by miner although you have set fee on high priority. It will different case if you're using fiat !
But as long as the store can tolerance with bitcoin confirmation process, I think it will not a big problem

[groll]

Well before bitcoin transactions are very fast then later it become slow. But then again today it is mixed sometimes slow and sometimes fast.

The miners fee if increased then the transactions becomes more faster. But it also depends on where did you spent your bitcoins or where did it come from and where it is going to. It is duely to the number of confirmations that an address from a certain site or page requires. The more confirmations needed the longer the transfer will take place.

[yenxz]

Bitcoin might be if you want to use at a local store must first be combined with identity / KTP . when someone is willing buyers
pay for groceries with bitkoin and not getting speedy confirmation so he must meninggalan identity / KTP or something similar to it .

[StarofBTC]

If you have money on bitcoin, what about to convert it in usd and than pay with your card?
It's very bad situation, it would be great if confirmations will be fast, but usually it takes 20-40 minute, but I think that transaction takes a second to register and reciever can see this, so there won't be any problem to accebt bitcoin payment in local stores.

Absolutely right. this thing already mentioned by someone else in the first page of the thread. but I don't know why people ignored that.

bitcoin transaction is not actually slow. the slow thing is actually confirmation. so any time we send someone some bitcoin the balance instantly visible to the receivers wallet.
so there is not issue to done the deal in seconds.


peoples are saying about using escrow. I would say using escrow will take more time. it is not a good idea at all.

[serjent05]

is it possible that bitcoin will be accepted in local stores, shops etc. since transactions are to slow and customers have to wait until their transactions are verified. And nobody wants to wait.
 Can transactions be seeded up to save customers time or any other way to use bitcoin  at local stores.

It is possible that bitcoin will be accepted in local stores.  As a matter of fact some establishment have already  implementing this kind of payment.  One of which is some restaurant where bitcoin enthusiast meet up take place in my coountry.  Bitcoin transaction is fast, only the confirmation takes time.  

[JeffBrad12]

is it possible that bitcoin will be accepted in local stores, shops etc. since transactions are to slow and customers have to wait until their transactions are verified. And nobody wants to wait.
 Can transactions be seeded up to save customers time or any other way to use bitcoin  at local stores.

For this problem, it's so difficult to fix that because all bout the system and it's needed a new concept to solve the problem of the transaction(confirmation) but waiting for a new project to solve the problem can making the transaction becomes slow and that is a Lightning Network.

[croutonhexagon]

Bitcoin transaction Confirmation always depends upon the Transaction Fees and on the Bitcoin Network and Now Many Merchants are accepting Bitcoin as a Payment Processor....

[skyway1]

i do not think that bitcoin transaction is slow , bitcoin transaction is too much faster than other , i think bitcoin is just one in all that its transaction is very much faster .

[StarofBTC]

Bitcoin transaction Confirmation always depends upon the Transaction Fees and on the Bitcoin Network and Now Many Merchants are accepting Bitcoin as a Payment Processor....

Some how fee effect the transaction yes. if you add very small transaction fee for a large amount of transaction the your transaction well surely get confirmed slowly and take some extra time.
I heard some peoples complaint that their transaction not getting confirm after more then 24 hours. that's could be the reason of the fee. and some time the mining blocks also make transaction slow.

[BitcoinTeacher]

I think that for shops is better to add bitcoin.It looks for me that 0-60 minutes transaction is really good for bitcoin.It is better to add bitcoin then payment processor like paypal,skrill,payeer,neteller,payooner,okpay,advision and other because of lower fees and bitcoin is anonymously so it dont need any verification id to save them.

[emberbekas]

Bitcoin confirmation will run slowly when prices rise dramatically. For example, couple weeks ago when bitcoin touched 800 usd,  some of my transactions experiencing a relatively long delay, approximately 12 hours to get a confirmation. Bitcoin rose dramatically made people tend to move their bitcoins into the exchangers to convert to their local currencies. That's what makes the transaction so slow. Under normal conditions, the confirmation requires less than 10 minutes.

Overall, bitcoin transaction runs as expected!

[btvGainer]

is it possible that bitcoin will be accepted in local stores, shops etc. since transactions are to slow and customers have to wait until their transactions are verified. And nobody wants to wait.
 Can transactions be seeded up to save customers time or any other way to use bitcoin  at local stores.

Bitcoin is not slow if you compare it woth other payment methods.It only takes 10 minutes to get any transaction confirmed on blockchain and then btc is instantly available to sellers wallet

[diodio5]

i do not think that bitcoin transaction is slow , bitcoin transaction is too much faster than other , i think bitcoin is just one in all that its transaction is very much faster .

lol I think compared to the western union payment method certainly bitcoin has transactions faster. but if compare with the same type on cryptocurrency. I think the transaction on cryptocurrency has a high speed. but will have a different time on the confirmation. but I think bitcoin slower than other cryptocurrency

[MinerHQ]

If we compare with any other bank transaction Bitcoin transaction is very fast. We will get confirmation message within a few minutes. But Bitcoin payment is bit slow because the customer has to wait until the shoppe owners confirm that their payment as been recived successfully. So this is a very long process. The main problem is the currency to Bitcoin calculation it will take huge time. 

[icecube45]

Yes perhaps on transactions directly in reality, bitcoin transaction takes a long time to require between 5-15 minutes. For some people they do not like to wait that long. If the system can be quickly updated and it would be better to deal directly only takes no more than 1 minute. But to buy online bitcoin very quickly as though waiting for a few minutes we did not wait and do not spend energy.

[xuan87]

this has become one of the biggest problem for local store, and even worse sometimes the transaction can take until 1 to 2 hours to successful, maybe paying like debit card is one of the answer however i dont really know the speed transaction when you are using bitcoin debit card because there are no store accepting bitcoin in my place

[Jimbola3]

i do not think that bitcoin transaction is slow , bitcoin transaction is too much faster than other , i think bitcoin is just one in all that its transaction is very much faster .

lol I think compared to the western union payment method certainly bitcoin has transactions faster. but if compare with the same type on cryptocurrency. I think the transaction on cryptocurrency has a high speed. but will have a different time on the confirmation. but I think bitcoin slower than other cryptocurrency

yeah so it makes bitcoin more secure then others too and make more people to trust in it rather in other cryptocurrencies and waiting for 10 minutes that i can do to get better service !

[TastyChillySauce00]

just make the merchant allowing 0 confirmation transaction,as the sender sending the current money in front of merchant and being monitored by the merchant himself,i think it's fine,just need to make sure if there's nothing suspicious activities on the sender's address and all funds are already confirmed

[CraigWrightBTC]

is it possible that bitcoin will be accepted in local stores, shops etc. since transactions are to slow and customers have to wait until their transactions are verified. And nobody wants to wait.
 Can transactions be seeded up to save customers time or any other way to use bitcoin  at local stores.

Of course yes, bitcoin can be accepted in local stores even if it is need much time until every local stores accept it. And The solution for low transaction is using high fees when costumers makes payment on local stores. It will save costumers time.