bitcoin transactions - Slow OR Fast

[goinmerry]

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 transaction time =/= transaction confirmation time.

transactions are super fast and it only takes a couple of seconds to reach the merchant's wallet. but the confirmation time is long and it can be from seconds to 10 minutes on average or 1 hour in the worst case scenario.

and shops can accept this based on the fact that fraud (which would be to double spend) will not happen that often and the risk would be even lower than accepting credit card as payment.

But it wont be a problem right? There is this open and closed parenthesis that is saying you are about to receive this kind of money anf it cannot be cancelled anymore so it could rely on that. The merchants will just be the one confirming it to the customer that they have received it. Through text or any means of communication.

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[machinek20]

for me bitcoin is slow, some of my transaction can take up until 3 hours, and as i know there are no way to increase the speed unless there are big development from bitcoin, but some of the expert claims that bitcoin debit card will be able to increase the speed

[naidray]

for me bitcoin is slow, some of my transaction can take up until 3 hours, and as i know there are no way to increase the speed unless there are big development from bitcoin, but some of the expert claims that bitcoin debit card will be able to increase the speed

Usually my transactions are getting included into next two or three blocks itself.

When I am dealing with a trusted person my bitcoin transactions are almost instant yes it is super fast. Once they confirm they have sent money and I receive them instantly, I do check for the fees they have included. That's all.

When you are transacting with new person or stranger, you need to worry about confirmation and its time. This type of situation only I feel bitcoin is not instant but not slow.

[JessicaSe]

for me bitcoin is slow, some of my transaction can take up until 3 hours, and as i know there are no way to increase the speed unless there are big development from bitcoin, but some of the expert claims that bitcoin debit card will be able to increase the speed

You can increase the speed of transactions if you add higher fees, and if you do that then it won't take more then 20 minutes for your transaction to get confirmed.

[JeffBrad12]

Bitcoin transactions are quite fast these days as the cryptocurrency gets widely accepted for example topping up your mobile is close to instant as one does not need to wait for a confirmation

Bitcoin transactions are not fast, and I don't know what you mean my mobile topping up being related to this because it is relatively apparent that a transaction time =/= how quickly you can see funds in your phone given from a bank.

Bitcoin transactions will be fast once there is a decentralized lightning network, and that is likely still a ways away.

Is bitcoin transaction depend on internet connection?

The transaction is not depending on your connection but for you know as the transaction is always instant is not too fast or slowly, but the problem it only always needs a confirmation before for making the transaction is like getting a legalism.

[Red-Apple]

for me bitcoin is slow, some of my transaction can take up until 3 hours, and as i know there are no way to increase the speed unless there are big development from bitcoin, but some of the expert claims that bitcoin debit card will be able to increase the speed

with your high rank you should know this already that bitcoin transactions are super fast and network propagates the transactions at highest of speeds.

what you are talking about is confirmation times. and there is a simple solution for that. "add standard fee" it is as simple as that and if you add the correct amount of fee based on the size of your transaction then you can see confirmation in less than 10 minutes and worst case scenario which is rare will be 1 hour.

[Antonio G.]

for me bitcoin is slow, some of my transaction can take up until 3 hours, and as i know there are no way to increase the speed unless there are big development from bitcoin, but some of the expert claims that bitcoin debit card will be able to increase the speed

with your high rank you should know this already that bitcoin transactions are super fast and network propagates the transactions at highest of speeds.

what you are talking about is confirmation times. and there is a simple solution for that. "add standard fee" it is as simple as that and if you add the correct amount of fee based on the size of your transaction then you can see confirmation in less than 10 minutes and worst case scenario which is rare will be 1 hour.

But what should I do if I want to buy groceries in the supermarket? Should I wander inside the supermarket within an hour? It's a little bit inconvenient.

[bitbunnny]

for me bitcoin is slow, some of my transaction can take up until 3 hours, and as i know there are no way to increase the speed unless there are big development from bitcoin, but some of the expert claims that bitcoin debit card will be able to increase the speed

with your high rank you should know this already that bitcoin transactions are super fast and network propagates the transactions at highest of speeds.

what you are talking about is confirmation times. and there is a simple solution for that. "add standard fee" it is as simple as that and if you add the correct amount of fee based on the size of your transaction then you can see confirmation in less than 10 minutes and worst case scenario which is rare will be 1 hour.

But what should I do if I want to buy groceries in the supermarket? Should I wander inside the supermarket within an hour? It's a little bit inconvenient.

Of course this could be very inconvenient, both for you and thew store. But that is why Bitcoin debit card exists. Sometimes confirmation could be slow but with Bitcoin debit card transaction is fast and esay like with any other debit or credit card and you can use it everywhere you want. You should try it. 

[emberbekas]

But what should I do if I want to buy groceries in the supermarket? Should I wander inside the supermarket within an hour? It's a little bit inconvenient.

That's why only few offline stores uses bitcoin as alternative payment nowadays! The confirmation still become the big problem for them. I wish in the future this problem can be fixed and the use of bitcoin in the real life more widespread.

[Kotone]

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.

Ofcourse yes it is possible that bitcoin will be accepting in some selected local shops nor store , it can be easily for us who using bitcoin everyday so that we could need  to go in the exchange website to sell our bitcoin and we can now use it in sometransaction if we are buying something like buying foods etc.

[PaulPogba8]

It is painfully slow, 50-60 minutes no block situation is usually happening, i prefer 1 min block altcoins

[serjent05]

It is painfully slow, 50-60 minutes no block situation is usually happening, i prefer 1 min block altcoins

so true though the transaction is instant, confirmation takes  too long.  Merchants are  not  relying only on the sent transaction but it needs to be confirmed to close the transaction.  it is very annoying to  get the 1st confirmation because it really takes too long then the merchants need at least 2 confirmation making it double the headache.  This should be addressed and solved or bitcoin  will be forgotten and replace by much faster altcoin someday.

[jak3]

actully bitcoin transactions are never slow they are always instant its just the confermation part takes a lot of time and pfcourse it depends on the fees to if a shop do not care much about the confirmations then they will not havw any problem of accepting bitcoins

[marleybobthedog]

In my opinion bitcoin transaction is not at all fast, it is fastest. I am very happy to have such a system which can make our transaction with ease and too. With bank transfer world wide it really takes very long time and in this world of busy life that is too boring.

[Antonio G.]

for me bitcoin is slow, some of my transaction can take up until 3 hours, and as i know there are no way to increase the speed unless there are big development from bitcoin, but some of the expert claims that bitcoin debit card will be able to increase the speed

with your high rank you should know this already that bitcoin transactions are super fast and network propagates the transactions at highest of speeds.

what you are talking about is confirmation times. and there is a simple solution for that. "add standard fee" it is as simple as that and if you add the correct amount of fee based on the size of your transaction then you can see confirmation in less than 10 minutes and worst case scenario which is rare will be 1 hour.

But what should I do if I want to buy groceries in the supermarket? Should I wander inside the supermarket within an hour? It's a little bit inconvenient.

Of course this could be very inconvenient, both for you and thew store. But that is why Bitcoin debit card exists. Sometimes confirmation could be slow but with Bitcoin debit card transaction is fast and esay like with any other debit or credit card and you can use it everywhere you want. You should try it. 

Oh, thats great if such cards work so fast, I definitely should try to use it, thanks 

[Newcoins2020]

for me the transactions are really fast, they are instant and i usually dont need to wait if the website does not ask for the confirmations tu use bitcoins

For me transactions are also really fast but sometimes when depositing money into casinos they go really slow and can take up to 30minutes even which I think is slow for bitcoin since my bank is even faster. But this could be the fault of the casino though which I can understand. But overall bitcoin transactions have been very fast for me usually within seconds.

[hollandvan]

It is painfully slow, 50-60 minutes no block situation is usually happening, i prefer 1 min block altcoins

so true though the transaction is instant, confirmation takes  too long.  Merchants are  not  relying only on the sent transaction but it needs to be confirmed to close the transaction.  it is very annoying to  get the 1st confirmation because it really takes too long then the merchants need at least 2 confirmation making it double the headache.  This should be addressed and solved or bitcoin  will be forgotten and replace by much faster altcoin someday.

Yep, 1 confirmation takes long, if they adopt 0 confirmation payment, there will be double spend attack and fork issues.

[1Referee]

for me the transactions are really fast, they are instant and i usually dont need to wait if the website does not ask for the confirmations tu use bitcoins

For me transactions are also really fast but sometimes when depositing money into casinos they go really slow and can take up to 30minutes even which I think is slow for bitcoin since my bank is even faster. But this could be the fault of the casino though which I can understand. But overall bitcoin transactions have been very fast for me usually within seconds.

There could be plenty of reasons of why your transaction takes longer to post. To get 1 confirmation you need to make sure you have added an appropriate fee to make pools include your transaction in their block. If you add a fee below 0.0001BTC, then certain pools might actually ignore your transaction for a while, which makes that you need to wait much longer to get your transaction to confirm. Either way, confirmations are needed for services to disallow people to potentially double spend.

Casino's can be tricked and cheated at when they don't accept at least one 1 confirmation. I remember that Primedice at some point didn't require you to have 1 confirmation in order to play. Only when you needed to withdraw your funds you would need to wait till you have 1 confirmation. This made it so easy for people to cheat and potentially walk out with plenty of coins.

[ObscureBean]

It is painfully slow, 50-60 minutes no block situation is usually happening, i prefer 1 min block altcoins

so true though the transaction is instant, confirmation takes  too long.  Merchants are  not  relying only on the sent transaction but it needs to be confirmed to close the transaction.  it is very annoying to  get the 1st confirmation because it really takes too long then the merchants need at least 2 confirmation making it double the headache.  This should be addressed and solved or bitcoin  will be forgotten and replace by much faster altcoin someday.

Yep, 1 confirmation takes long, if they adopt 0 confirmation payment, there will be double spend attack and fork issues.

That right there is one instance where having an account with a trusted online wallet is better than keeping your Bitcoins in a local wallet. If your Bitcoin are in a trusted online wallet, when you make a payment, the wallet company can check your account and lock down the payment amount, it can then instantly confirm with the processor that the Bitcoin is definitely on its way. So no need to wait for confirmations at all, it's a 0 confirmation payment without the risk of double spend attack. The purchases that I make from my Coinbase account through BitPay are all instantaneous, 0 confirmation payments  

[teilwalL05]

For me it is really fast and accurate when I wanted to withdraw my money through my bitcoin wallet I can easily withdraw it to my bank partner and use it if I want it. Bitcoin transaction for me is really fast.