bitcoin transactions - Slow OR Fast

[coinsocieties]

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 understand what you are saying, however once the bitcoin transaction has been added to the blockchain, it is normally safe to say that you are in the clear.  People use that method all the time, whether selling products or giving loans out.  You need to understand how it works and confirmations are not always needed.

[mirakal]

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 understand what you are saying, however once the bitcoin transaction has been added to the blockchain, it is normally safe to say that you are in the clear.  People use that method all the time, whether selling products or giving loans out.  You need to understand how it works and confirmations are not always needed.

There are other sites like gambling sites that does not need confirmation to credit your deposit, as soon as they see your transaction in the blockchain even "unconfirmed transactions" they will automatically credit your deposit in your account and that is a good way because you can easily attract gamblers to patronize your site.

[BTcoint]

if anyone can explain why it takes long time more than 30 mint to transfer bitcoin from exchange (poloniex) to own wallet ?

[Ewinsane]

bitcoin transaction is too much faster than other .

[BitHodler]

if anyone can explain why it takes long time more than 30 mint to transfer bitcoin from exchange (poloniex) to own wallet ?

It can have many reasons of which the most common are:

~ Poloniex manually needing to review your withdrawal request.
~ Your wallet is not up to date with the latest blocks, and thus your coins will not show up in your wallet yet.

If you are talking about your coins taking more than 30 minutes to confirm, then it's either pools not having found a block yet, or they are ignoring your TX due to a low included fee.

[Siyas]

for me bitcoin transaction is fast and steady.....using it for shopping is also fast

Many confirm the same. I am waiting to experience it. Will probably confirm you after i make few transactions. Almost all give positive feedback on the transactions. Fees are not charges i suppose. Right? No tax, well protected and secured. Good to be part of this community.

[Dudeperfect]

Think the comparison of time bitcoin transaction and that of alternative options. Wire transfer usually takes something from 1/2 hour to 3 hours and most of my bitcoin transactions are between 10 minutes to 30 minutes.

Yes, debit / credit cards take less than that but the fees are comparatively more for those options. I think we will find some way to minimize the bitcoin transaction time on local level but current transaction time is fast enough when it comes to international level and the best part is the fees required for it are nominal as compared with other options.

[prtty2gal2]

Think the comparison of time bitcoin transaction and that of alternative options. Wire transfer usually takes something from 1/2 hour to 3 hours and most of my bitcoin transactions are between 10 minutes to 30 minutes.

Yes, debit / credit cards take less than that but the fees are comparatively more for those options. I think we will find some way to minimize the bitcoin transaction time on local level but current transaction time is fast enough when it comes to international level and the best part is the fees required for it are nominal as compared with other options.

The confirmation of transaction is actually pretty slow and not very useful in physical transactions as it can take from seconds to minutes to hours to days even and that would clearly be very inconvenient.
However, in terms of transferring funds, it's actually quite a lot faster than most.

[BitcoinChicken]

Bitcoin transactiions are bery fast for me and i am happ very with that crypticurrency it is fatser transaction with bitcoin then with bank account to account.

[Superbitzz]

in different time the transaction of bitcoin have different reaction. some time the transaction of bitcoin take a lot of time and we wait for the confirmation, while in some time the bitcoin transaction done in few seconds so there no fixed time for bitcoin transaction, but it is a fact that early or later the transaction is completing in any case.

[ASHLIUSZ]

in different time the transaction of bitcoin have different reaction. some time the transaction of bitcoin take a lot of time and we wait for the confirmation, while in some time the bitcoin transaction done in few seconds so there no fixed time for bitcoin transaction, but it is a fact that early or later the transaction is completing in any case.

Bitcoin users were up in arms about their transactions taking a long time to be processed by the network, the reason for the frustration appears to be much more unsettling and banal. Sometimes it will be fast.

[mirakal]

in different time the transaction of bitcoin have different reaction. some time the transaction of bitcoin take a lot of time and we wait for the confirmation, while in some time the bitcoin transaction done in few seconds so there no fixed time for bitcoin transaction, but it is a fact that early or later the transaction is completing in any case.

Bitcoin users were up in arms about their transactions taking a long time to be processed by the network, the reason for the frustration appears to be much more unsettling and banal. Sometimes it will be fast.

If you want it to be fast then you will not need to wait for more confirmations to effect the transfer when you are transacting with someone in the internet, but for more merchant of exchange they will need to wait for at least 3 confirmation to credit your payment but for me base on experience less than 30 minutes is already fast.

[OrangeII]

Bitcoin transactiions are bery fast for me and i am happ very with that crypticurrency it is fatser transaction with bitcoin then with bank account to account.

long as I use bitcoin, the transaction is always fast, but there are times when the confirmation was long ago, but it was very rare. Well, I guess it was a little hamper our activities as a businessman to conduct transactions quickly, but it was all fine as long as it runs smoothly

[severaldetails]

It always depends waht you understand by fast.
My last transaction took more than one hour to be confirmed. But I don't need it any quicker than that. So it was fast to me.
Of course, my last paypal transaction only took a few seconds. Compared to that, the bitcoin transaction could do quicker.
On the othere hand, a bank transaction takes a day. Much slower than bitcoin.
Everything a point of view.

[twa]

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 that bitcoin transactions are quite fast, so that is not a problem of bitcoins for sure, and when i paid with bitcoins in real life store, my payment was confrimed in 2 minutes

[Imoote]

Maybe if bitcoin used for direct payments will require considerable time. Due to delivery takes at least 5 minutes. If pending also be more than that. Maybe it will make people wait to successfully send and I think it's still slow and needs to be updated again so be quick.

[Sniper44]

Maybe if bitcoin used for direct payments will require considerable time. Due to delivery takes at least 5 minutes. If pending also be more than that. Maybe it will make people wait to successfully send and I think it's still slow and needs to be updated again so be quick.

you have to start reading more of the topics that you give reply to.
it has already been discussed that bitcoin transactions are super fast and only the confirmation is slow which is not a big deal at all if you think about the chances of fraud.

[mirakal]

Maybe if bitcoin used for direct payments will require considerable time. Due to delivery takes at least 5 minutes. If pending also be more than that. Maybe it will make people wait to successfully send and I think it's still slow and needs to be updated again so be quick.

you have to start reading more of the topics that you give reply to.
it has already been discussed that bitcoin transactions are super fast and only the confirmation is slow which is not a big deal at all if you think about the chances of fraud.

Chances of fraud? Not gonna happen, bitcoin is very transparent in terms of transaction online because we have a public ledger that we can view in every transaction and for the transacting party that would ease their mind as there is an assurance they can see in the blockchain.

[avikz]

The transaction speed depends on the amount and the network fees paid for that...If the amount is high and the fees are less, it may take up to 30 minutes.

But I have exchanged a very small amount from an exchanger which is less than $20 and the transaction was instant. Did not take any time to get confirmed. So I guess the appropriate fees should be paid to the network.

[talkbitcoin]

The transaction speed depends on the amount and the network fees paid for that...If the amount is high and the fees are less, it may take up to 30 minutes.

But I have exchanged a very small amount from an exchanger which is less than $20 and the transaction was instant. Did not take any time to get confirmed. So I guess the appropriate fees should be paid to the network.

bitcoin transaction times are fast, what you are thinking is the confirmation time. and since OP is asking about merchants using bitcoin in his question ["will be accepted in local stores, shops etc"] in this case the transaction time is the only important thing and that is fast enough for being accepted by these vendors.