bitcoin transactions - Slow OR Fast

[Mr.grin]

If you pay fee relevant to your transaction size, then I don't think there is any reason for it not to go through and confirm.
Pay the least fee as recommended, even BTC0.0001 would do (BTC0.0002 is the current normal fee).

you're right, by paying a fee, I think bitcoin transactions can be faster. Well, I had an experience like that. in blockchain old, you can withdraw all the money you have, but the transaction will be confirmed in a long time. however, if you pay the fee, then the transaction will happen faster

[nara1892]

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 also think about that. what if we need to wait 30 minutes until one hour for a transaction in general shops? it doesn't make any sense.

I think bitcoin transaction sometimes is fast, and sometimes slow.

[danherbias07]

For me it is still faster than any money transfer. I have been using WU and Moneygram but still I am preferring this option. True that there is a real problem regarding where to get the money but in terms of sending it is really good.

[eternalgloom]

Well, I have yet to encounter a situation where the confirmation times mattered because I haven't actually seen/used a physical shop where they accept bitcoin as payment, so for me, the confirmation times doesn't really matter yet.

BUt, when/if I can finally use bitcoin in everyday transactions offline, then the confirmation times really matters. It would also help if third party apps aren't needed just to speed things up,coz those always come with additional fees as well as an extra step or two. If it was a large/expensive transaction then the time wouldn't matter, but for ordinary ones, well, having to wait 5 - 20 mins for the confirmations is a huge hassle. Hope it can somehow be shortened like paying through credit cards if not fiat. (lol.)

Confirmation times can also matter for online transactions.
When I sell Bitcoins through Bitonic.nl (Only for Belgium and Netherlands), I basically have a 30 minute window to get one confirmation, or the transaction gets cancelled and they send back the Bitcoins after it has finally confirmed.
So that's a huge pain in the ass if that happens.

[ashiqdey]

adoption of bitcoin acceptance in offline local store is very low because sometimes it takes more than 1 hour and summertime  24 hours also to verify bitcoin transaction so customers couldn't wait that much time. bitcoin transaction is fastest as compared to transaction speed of banks across multi nation.

[shinratensei_]

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 also think about that. what if we need to wait 30 minutes until one hour for a transaction in general shops? it doesn't make any sense.

I think bitcoin transaction sometimes is fast, and sometimes slow.

You're wrong at all and about your understanding are missing from interpretation the definition of transaction. everywhere, every place and every time all of the type of transaction are same but it's different on the legalism gateway of the transaction, as you can see the legal financial institution are never needed any confirmation like bitcoin for making their transaction are legal because they're already having all of the legalism, and different with bitcoin are need getting a confirmation for getting their legalism, it's not about fast or not the transaction but it's caused by for avoiding the illegalism transaction and especially double spending.

[betohell]

If you pay fee relevant to your transaction size, then I don't think there is any reason for it not to go through and confirm.
Pay the least fee as recommended, even BTC0.0001 would do (BTC0.0002 is the current normal fee).

yeah i think the speed of the transaction will depend on the confirmation of the fee you spend if you use only 0.0001 BTC, I think you will not get high-speed transactions?

[Wowcoin]

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.

Maybe they can accept it because in our country local wallet of bitcoin like php wallet if you transfer it instant to recieve it so theres no problem in transaction. But is the bitcoin come from blockchain that is a problem because we need to wait until the confirm it so the thing to do is use a local wallet to avoid slow transaction.

[bitkilo]

Mempool seems to be on the rise again, let's hope it doesn't get to 70k tx's before it starts coming down this time.
I have 2 transactions waiting to confirm, getting close to 1 hour since sent now.

I would advise anyone who is sending an urgent transaction today to add a good size fee, maybe 0.0007btc or even larger.

[marleybobthedog]

As compared to bank transfer across two countries bitcoin is faster because bitcoin transaction takes about 5 6 seconds to 10 minutes normally but bal transfer requires more than hours for the transaction. But adoption of bitcoin in local shop would be worthless because customer could not wait for such a long time to verify the transaction.

[asuryan180]

It is fast enough in my opinion to be considered one of the best options out there so for sure it is fast but it would still be far better if somehow it could be faster and go to about 6 mins for confirmation-sometimes I wait 10-13 minutes for confirmation which is still nice but it could be really better.
It's still good anyway.

[dunfida]

It is fast enough in my opinion to be considered one of the best options out there so for sure it is fast but it would still be far better if somehow it could be faster and go to about 6 mins for confirmation-sometimes I wait 10-13 minutes for confirmation which is still nice but it could be really better.
It's still good anyway.

Bitcoin does  really  have  fast  transaction regarding   on  money transfers  but   as  of today and   on previous days  blockchain transaction  takes too long and almost  would   able to complete confirmation for  how  many  hours  because  of    too much load  of   transactions  but well it would  be   back to normal  hence  this is  just  arising   because    of   sudden  bitcoin adoption.

[springgers]

It is fast enough in my opinion to be considered one of the best options out there so for sure it is fast but it would still be far better if somehow it could be faster and go to about 6 mins for confirmation-sometimes I wait 10-13 minutes for confirmation which is still nice but it could be really better.
It's still good anyway.

Can you imagine the queue in a market if everyone wait 10 minutes?
Instead of this, you can put yours Bitcoins in a debit card and do it asap.

[tabas]

It is fast enough in my opinion to be considered one of the best options out there so for sure it is fast but it would still be far better if somehow it could be faster and go to about 6 mins for confirmation-sometimes I wait 10-13 minutes for confirmation which is still nice but it could be really better.
It's still good anyway.

Sometimes it is and sometimes it won't. There is a case that a lot of transactions that has not been confirmed for so long so sometimes that is given. But base on my experience I haven't experienced that a transaction is going to be more than 20 minutes either. And that is the range for each transaction 5-15 minutes only and that is fast for me.

[Senor.Bla]

It is fast enough in my opinion to be considered one of the best options out there so for sure it is fast but it would still be far better if somehow it could be faster and go to about 6 mins for confirmation-sometimes I wait 10-13 minutes for confirmation which is still nice but it could be really better.
It's still good anyway.

Sometimes it is and sometimes it won't. There is a case that a lot of transactions that has not been confirmed for so long so sometimes that is given. But base on my experience I haven't experienced that a transaction is going to be more than 20 minutes either. And that is the range for each transaction 5-15 minutes only and that is fast for me.

confirmation time of over 30 minutes is something that happens all the time, and one confirmation is not enough to be safe, it might be ok for small amounts but i would not buy a car and wait just for one confirmation. on the other hand confirmation times of around one minute are also not that rare. bitcoin is still improving and it can and will do better, but do not expect, that bitcoin will confirm transactions within seconds (i do not see bitcoin changing the average of 10 minutes). also there will almost always be unconfirmed transactions. better get used to it.

[Harlot]

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.

Maybe the best way to avoid this kind of situation is by converting your bitcoin to fiat. Yes I know the fact that you want to pay bitcoin because you want the benefit of going wireless and not have to carry a thick wallet in your pants but unless bitcoin's transaction are faster then we must resort to Fiat as of the moment as were not the one customer they have.

[Mark02]

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.

Maybe the best way to avoid this kind of situation is by converting your bitcoin to fiat. Yes I know the fact that you want to pay bitcoin because you want the benefit of going wireless and not have to carry a thick wallet in your pants but unless bitcoin's transaction are faster then we must resort to Fiat as of the moment as were not the one customer they have.

Actually, you don't have to wait for the confirmation obthe transaction when accepting bitcoin aa payment. Maybe stores should get the transaction details of that then later they will check what is the status of the transaction right ?

And yes its true. It is much faster to a transaction to be confirmed when it is converted first to fiat before you transfer it to another person.

[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.

Maybe the best way to avoid this kind of situation is by converting your bitcoin to fiat. Yes I know the fact that you want to pay bitcoin because you want the benefit of going wireless and not have to carry a thick wallet in your pants but unless bitcoin's transaction are faster then we must resort to Fiat as of the moment as were not the one customer they have.

Actually, you don't have to wait for the confirmation obthe transaction when accepting bitcoin aa payment. Maybe stores should get the transaction details of that then later they will check what is the status of the transaction right ?

And yes its true. It is much faster to a transaction to be confirmed when it is converted first to fiat before you transfer it to another person.

Stores can adjust when they are already accepting bitcoin, the transaction time is not new to us anymore as sometimes it's fast and sometimes it's not. What matters to me is that when I see a transaction online even unconfirmed, it will already give me a feeling of confidence that in due time I will be able to receive bitcoins.

[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.

Maybe the best way to avoid this kind of situation is by converting your bitcoin to fiat. Yes I know the fact that you want to pay bitcoin because you want the benefit of going wireless and not have to carry a thick wallet in your pants but unless bitcoin's transaction are faster then we must resort to Fiat as of the moment as were not the one customer they have.

Actually, you don't have to wait for the confirmation obthe transaction when accepting bitcoin aa payment. Maybe stores should get the transaction details of that then later they will check what is the status of the transaction right ?

And yes its true. It is much faster to a transaction to be confirmed when it is converted first to fiat before you transfer it to another person.

I agree bitcoin transaction is instant.  It is the confirmation on that transaction that is taking too long. If you want to make the confirmation faster, you should increase your transaction fee.   Miners prioritized those higher fees ignoring those who transaction that does not pay any transaction fees.

[dothebeats]

Actually stores are using third-party bitcoin payment processors such as Bitpay to help with the confirmation times (or up until a transaction is confirmed in the network.) Also, even if the payment or tx is not yet confirmed in the network, the stores or merchant would have their payment sent to them.
As for the general confirmation time in the network, it is normal that you have to wait 10> minutes (or even less) as long as you pay the correct/suggested fee for your tx to be included in the next block.