bitcoin transactions - Slow OR Fast

[PsursV]

You could always use the lightning network. If you trust a recipient, you basically get your transaction confirmed immediately or extremely fast. Bitcoin is the best for internet transactions, not irl ones.

but i think it has not a fixed time for transaction. some time it done it in a very fast mode and some time it requires such a long time. in different time it has different result. some time the transaction is conformed with in seconds. and some time it take minutes and hours to conform the transaction. so we cannot say anything for sure either it is slow or fast.

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[Karpeles]

It is already is.

There are services that won't make the transaction time a problem, like bitpay and others

[Hugroll]

the transactions are pretty much instant, but the confirmations take a while. so if you are selling something worth a lot in you stores meaning the bill is going to be large, i wouldnt recommend bitcoin because double spends would leave you pennyless. but if you are a coffee shop owner or something with smaller transactions, i doubt anyone would double spend for a couple of bucks so you should be safe.

[madwica]

the transactions are pretty much instant, but the confirmations take a while. so if you are selling something worth a lot in you stores meaning the bill is going to be large, i wouldnt recommend bitcoin because double spends would leave you pennyless. but if you are a coffee shop owner or something with smaller transactions, i doubt anyone would double spend for a couple of bucks so you should be safe.

As of now bitcoin is not recommendable for some store to accept as payment there are many thing to improved and to consider it is very hassle for now but in some online store who are accepting bitcoin the transaction is not too slow because we consider also the confirmation of the transaction.

[bravehearth0319]

In my point of view, bitcoin transaction is fast because in less than an hour I could already received the payments sent to me. I believe that sometimes there is a problem with network by the fact that we can transact anytime we wishes will overshadowed the weaknesses noted.

Indeed, in fact if we are going to compare it to other advertising businesses most of the time their transaction is often delayed even it is manualy process. While in bitcoins it is reality that sometimes it delays because of net connection but if net is strong there will be no problem with the transaction its very fast not slow. 

[pandalion98]

In my point of view, bitcoin transaction is fast because in less than an hour I could already received the payments sent to me. I believe that sometimes there is a problem with network by the fact that we can transact anytime we wishes will overshadowed the weaknesses noted.

Indeed, in fact if we are going to compare it to other advertising businesses most of the time their transaction is often delayed even it is manualy process. While in bitcoins it is reality that sometimes it delays because of net connection but if net is strong there will be no problem with the transaction its very fast not slow. 

I think we're talking about transaction confirmation time instead of internet speed here. Block times are more or less 10 minutes each, so usually, it takes a minimum of 10 minutes for a transaction to get processed unless merchants accept zero-confirmation transactions or other methods like lightning networks or off-chain transactions (e.g. CoinBase)

[Whosdaddy]

Bitcoin transactions are not fast, sometimes up to more than 24 hours. In real shop buying it is not possible to wait for buying transaction more than 2 - 3 minutes. So BTC currently is shopping future. 

I have never had any transaction confirmation that went over 24 hours. At most, I have had was about three hours.
It really is inconvenient for physical shop owners as they might have to wait for that long for the confirmation even  they are following with risky standardized policy of just one confirmation to approve any order to be processed.

[TastyChillySauce00]

It is already is.

There are services that won't make the transaction time a problem, like bitpay and others

they still require a confirmation if the merchant want it,although just heared some people say bitpay's zero confirmation is no longer accepted due too much double spends,but before it was removed,it's very useful indeed

[lumeire]

It is already is.

There are services that won't make the transaction time a problem, like bitpay and others

they still require a confirmation if the merchant want it,although just heared some people say bitpay's zero confirmation is no longer accepted due too much double spends,but before it was removed,it's very useful indeed

Really? The last time I transacted via BitPay like a week ago the payment was accepted almost instantaneously. It's BitPay's greatest asset for consumers, we need to confirm on that.

[groll]

It is already is.

There are services that won't make the transaction time a problem, like bitpay and others

they still require a confirmation if the merchant want it,although just heared some people say bitpay's zero confirmation is no longer accepted due too much double spends,but before it was removed,it's very useful indeed

Bitpay had made their transaction more faster than ever while Having to get rid of doublespend.
Blockchain on the other hand has also increased the transaction speed though sometimes it slow and sometimes its like a blink of an eye and your coins is transferred already.

So far to evaluate bitcoin if fast or slow, I will say it is much faster than before. 

[Betwrong]

Fast if merchants accept zero confirmation and slow if merchants don't accept zero confirmation, especially if they ask at least 3-6 confirmation.
But, for purchases something which is expensive, wait for a confirmation isn't problem.

I agree. And also I think it's ridiculous to wait until 1 conformation when purchasing inexpensive goods, but unfortunately many sellers think otherwise.

[ufaiz50]

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.

i think are not slow until transaction verification, 

[Xester]

the transactions are pretty much instant, but the confirmations take a while. so if you are selling something worth a lot in you stores meaning the bill is going to be large, i wouldnt recommend bitcoin because double spends would leave you pennyless. but if you are a coffee shop owner or something with smaller transactions, i doubt anyone would double spend for a couple of bucks so you should be safe.

Is doublespending still occur until today. I didn't expect that to be still present up to now.

Blockchain transactions are now fast and more reliable except when a site requires more confirmations.

For faster transaction I recommend using blockchain. Info wallets between two bitcoin users. The transfer will be at lightning speed without double spending

[airsounds]

It is already is.

There are services that won't make the transaction time a problem, like bitpay and others

they still require a confirmation if the merchant want it,although just heared some people say bitpay's zero confirmation is no longer accepted due too much double spends,but before it was removed,it's very useful indeed

well yeah the confirmations are the things that require a lot of time though if you actually only send a transaction as far as i know they are instant

[X-ray]

It is already is.

There are services that won't make the transaction time a problem, like bitpay and others

they still require a confirmation if the merchant want it,although just heared some people say bitpay's zero confirmation is no longer accepted due too much double spends,but before it was removed,it's very useful indeed

well yeah the confirmations are the things that require a lot of time though if you actually only send a transaction as far as i know they are instant

a transaction can't be considered as a final transaction or done if it don't have any confirmation or it's near to useless,the money still owned by the sender and if the transaction was rejected by network the money will back to the sender,if the receiver only need 0 confirmation it's instant but confirmation still an important thing

[Bestwishes745]

It is already is.

There are services that won't make the transaction time a problem, like bitpay and others

they still require a confirmation if the merchant want it,although just heared some people say bitpay's zero confirmation is no longer accepted due too much double spends,but before it was removed,it's very useful indeed

I used bitpay once for buying a domain, and I found it more convenient to pay through there, it took only 2 minutes to accept the confirmation and my domain was delivered to me.

[mirakal]

It is already is.

There are services that won't make the transaction time a problem, like bitpay and others

they still require a confirmation if the merchant want it,although just heared some people say bitpay's zero confirmation is no longer accepted due too much double spends,but before it was removed,it's very useful indeed

well yeah the confirmations are the things that require a lot of time though if you actually only send a transaction as far as i know they are instant

a transaction can't be considered as a final transaction or done if it don't have any confirmation or it's near to useless,the money still owned by the sender and if the transaction was rejected by network the money will back to the sender,if the receiver only need 0 confirmation it's instant but confirmation still an important thing

Confirmation in the blockchain is just very fast, and I would say that it is the fastest among the payment processors. There are times that it is faster than 5 minutes and that is the best thing of bitcoins when transacting online because it is also transparent.

[Ferrero]

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.

[ranochigo]

It is already is.

There are services that won't make the transaction time a problem, like bitpay and others

they still require a confirmation if the merchant want it,although just heared some people say bitpay's zero confirmation is no longer accepted due too much double spends,but before it was removed,it's very useful indeed

Really? The last time I transacted via BitPay like a week ago the payment was accepted almost instantaneously. It's BitPay's greatest asset for consumers, we need to confirm on that.

Used it recently and it didn't require a confirmation either. There is a settings in the Bitpay POS for merchants to choose the risk that they are willing to accept. For most physical stores, they do not require a confirmation and the customer can just pay and go if it gets pass some of the checks. For online stores, most would require one or six confirmations before it is listed as 'Paid'.

[upsidedown75]

Fast if merchants accept zero confirmation and slow if merchants don't accept zero confirmation, especially if they ask at least 3-6 confirmation.
But, for purchases something which is expensive, wait for a confirmation isn't problem.

I agree. And also I think it's ridiculous to wait until 1 conformation when purchasing inexpensive goods, but unfortunately many sellers think otherwise.

Well, businesses do want security, and confirmations=/=security. I know a few stores in my area that accept 0-confirmation transactions, but they're basically smaller stores. There are still double-spenders out there, but I don't know how many people who would double-spend for an eraser or a bottle of water.