bitcoin transactions - Slow OR Fast

[Harlot]

Bitcoin transactions are incredibly fast if you compare it to the clearing times that Western Union and other money transfer "experts" offer. It is instantaneous across the globe, no matter where you are and who you are. However, the confirmations that are required are often taking a long time and is quite annoying especially if you are trying to take advantage of arbitrage between the markets.

I can't say its very fast for something done online. Of course Western Union and other Remittance centers are slow you have to communicate and confirm if there is enough money in that branch your are sending in, you don't also expect that the one you are sending money will be expecting that money fast. In Bitcoin for a virtual currency the transaction time now is so long that hoping for it to be present in local businesses is slim to none.

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[jossiel]

Bitcoin transactions are incredibly fast if you compare it to the clearing times that Western Union and other money transfer "experts" offer. It is instantaneous across the globe, no matter where you are and who you are. However, the confirmations that are required are often taking a long time and is quite annoying especially if you are trying to take advantage of arbitrage between the markets.

I can't say its very fast for something done online. Of course Western Union and other Remittance centers are slow you have to communicate and confirm if there is enough money in that branch your are sending in, you don't also expect that the one you are sending money will be expecting that money fast. In Bitcoin for a virtual currency the transaction time now is so long that hoping for it to be present in local businesses is slim to none.

I can't that it is also fast because there are times that when I am receiving some payments it is taking very long.

But that is not even taking for a day maybe the longest would be 1 hour only. And I can say that waiting time is really long before it gets confirmed.

Because I know some transactions that are reaching even days.

[bitcoin31]

I think the transaction of bitcoin its takes 30-60 minutes to confirmed transaction. I think also if you send or recieve bitcoin bigger its takes 2-4 hrs . but if you send or recieve bitcoin low it takes 30-60 minutes . the worst scenerio other people wait 24-48 hrs to confirmed transaction that is very worst for me and for them.

[bitkilo]

I think the transaction of bitcoin its takes 30-60 minutes to confirmed transaction. I think also if you send or recieve bitcoin bigger its takes 2-4 hrs . but if you send or recieve bitcoin low it takes 30-60 minutes . the worst scenerio other people wait 24-48 hrs to confirmed transaction that is very worst for me and for them.

The size of the transaction should have little to do with the confirmation times dependent on the correct fee being added.
A simple 1 input 1 output tx with a 0.0002btc fee should confirm within 10min no matter if the amount sent is 0.001btc or 1000btc.

[Doamader]

As i know the transaction its instant, but we need the network to confirm it, soo usually takes 30- 1 hour to get 3 confirmations, that the most people does use to accept a deposit, considering bitcoin has a big security level, i dont care have to wait a bit.

[Barbut]

I don`t have rich experience like people that commented this topic, my transactions was mostly too and from casino. Sometimes this deposits and withdraws are going very fast, like in couple minutes I receive bitcoin, and after maximum half an hour they are confirmed.
Also I had situation when I waited incredibly long, and in that times its a bit boring to wait but what to do, there is no other way. I don`t hurry and for me this waiting is not a big deal, but I can imagine that people that need speed for their businesses this confirmation time can be a killer. I think this will be sorted with time.

[Dudeperfect]

No doubt that bitcoin transaction is very fast i can not encounter that it take an hour to confirm my transaction that is why i also recommend bitcoin to all my friends to use for their online transaction and the feedback is great.

It all depends on how much fees you are paying for the transaction. Sometimes I don’t think it necessary to transfer funds from my one wallet to another or from exchange to my wallet because usually I calculate and manage funds at night and thus it doesn’t matter even if it took 4 hours to complete the transaction but it reduces fees so not every time I look for fast transaction.

[rababo]

Bitcoin transaction is fast, but the confirmation may take some time. It depends how much the bitcoin amount is sent. If you sent a big amount then pay for more fees to get confirmation faster, if you pay it in low fees, it may take a long time to get confirmation.

[hawkins]

Bitcoin transaction is fast, but the confirmation may take some time. It depends how much the bitcoin amount is sent. If you sent a big amount then pay for more fees to get confirmation faster, if you pay it in low fees, it may take a long time to get confirmation.

you're right, bitcoin transactions always occur very quickly, but that inhibit it are just confirmation. Well, maybe it is something that is fair, because so many people are doing transactions per second, so take some time to confirm it, but maybe someday it will be repaired and brought forward

[Wandering Soul~]

Every bitcoin transaction is fast and can appear to your wallet in seconds however the confirmation time usually taken less 10-30 minutes or even hours. 

Miners typically pick the transaction with a higher fee so the greater the miner's fee, the fastest the transaction.

[rizkyhiw]

i think we should think about lowring the confirmations why dont you just accept 0 confirmations or make a special wallet which accepts zero confirmation by this you can have the instant transactions with extremly low fees

I believe that currently anyone is allowed to accept 0 confirmation transactions if they want but it is not a wise idea as the transaction you accept may be "double spent" with a higher fee to someone else shortly after.

Would you really feel safe accepting a transaction before it has been confirmed by the network?

this is the bitcoin problem , and nowadays i feel the transaction processed slower damn
another altcoins even have faster process than bitcoin
bitcoin claimed as the fastest transaction ever , but today i feel it's not
unless yeah you accept the 0 confirmation tx which it's not recommended as vulnerable.

i think it all depends from the blockchain , because not everytime i got slow transaction when send my bitcoin, that is why i always use fee that suggested by blockchain ( the minimum fee ) because i am not see that much different with high fee or minimum fee

i even talking about after using more than recommended fee amount
it's still getting slow and slower nowadays
i really don't know what causing this , all i know an altcoin like dogecoin has faster confirmation
so i stored my most money on altcoin right now rather than in bitcoin because this matter.

[saiha]

Every bitcoin transaction is fast and can appear to your wallet in seconds however the confirmation time usually taken less 10-30 minutes or even hours. 

Miners typically pick the transaction with a higher fee so the greater the miner's fee, the fastest the transaction.

Yes, that is what happening for each transactions that are unconfirmed. So if you have a very small transaction fee with sending of your bitcoin.

So don't hope that it can be confirmed very fast. But there are times that even you will have an higher fee but the line of unconfirmed transactions are a lot.

And they need to confirm it one by one so there are some who are taking a lot of hours and even days before being confirmed.

[umar_alfaroq]

thats why people starts to invest in altcoins, which gives faster transaction speed like ethereum or NEM. but for me, bitcoin is slow.

[xIIImaL]

thats why people starts to invest in altcoins, which gives faster transaction speed like ethereum or NEM. but for me, bitcoin is slow.

Lol, bitcoin is slow is transaction you mean right everyone will laugh at because fast is up to what you are defining as fees. And when see the value bitcoin and altcoins, btc is the best one among all digi coins.

[umar_alfaroq]

Lol, bitcoin is slow is transaction you mean right everyone will laugh at because fast is up to what you are defining as fees. And when see the value bitcoin and altcoins, btc is the best one among all digi coins.

is the value determines whether a currency is better than any other? we are talking about transaction speed. where bitcoin takes up to 10 minutes/block, and ethereum (for example) 14-15 seconds.

[mirakal]

Lol, bitcoin is slow is transaction you mean right everyone will laugh at because fast is up to what you are defining as fees. And when see the value bitcoin and altcoins, btc is the best one among all digi coins.

is the value determines whether a currency is better than any other? we are talking about transaction speed. where bitcoin takes up to 10 minutes/block, and ethereum (for example) 14-15 seconds.

Clearly there's a big difference as bitcoin has a large volume compared to ETH..Even so, I would still use bitcoin as more people are trusting it. It's not a good comparison between bitcoin and ETH as bitcoin is widely used and ETH is not.

[bitkilo]

Lol, bitcoin is slow is transaction you mean right everyone will laugh at because fast is up to what you are defining as fees. And when see the value bitcoin and altcoins, btc is the best one among all digi coins.

is the value determines whether a currency is better than any other? we are talking about transaction speed. where bitcoin takes up to 10 minutes/block, and ethereum (for example) 14-15 seconds.

Bitcoin transactions are almost instant, just the first confirmation you need to wait for.

I haven't used ethereum yet, when you say transactions take about 15 seconds are those funds then ready for you to transfer and spend?

[error08]

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 is fast within wallets, although need some time to verified but at least the money already transferred right.
Every bitcoiners know about that and no need to worry about the payment, it's easy to do just using your smartphone, scan QR code and sent/receive payment, done!

[Jasad]

thats why people starts to invest in altcoins, which gives faster transaction speed like ethereum or NEM. but for me, bitcoin is slow.

Lol, bitcoin is slow is transaction you mean right everyone will laugh at because fast is up to what you are defining as fees. And when see the value bitcoin and altcoins, btc is the best one among all digi coins.

in another altcoin you even don't need to adjust the fees and it is still far better than bitcoin ,
people noticed it once they try an altcoin ,
you must not yet try any altcoin don't you?
i a little bit disappointing on how bitcoin developed day by day , worse.

[Harlot]

thats why people starts to invest in altcoins, which gives faster transaction speed like ethereum or NEM. but for me, bitcoin is slow.

Lol, bitcoin is slow is transaction you mean right everyone will laugh at because fast is up to what you are defining as fees. And when see the value bitcoin and altcoins, btc is the best one among all digi coins.

in another altcoin you even don't need to adjust the fees and it is still far better than bitcoin ,
people noticed it once they try an altcoin ,
you must not yet try any altcoin don't you?
i a little bit disappointing on how bitcoin developed day by day , worse.

For real bro Bitcoin transactions is considered slow in the virtual world, in the internet where you can have internet speeds of 1Gbps in which you can download a whole movie in seconds, while in the mean time Bitcoin transactions in which you are just sending virtual money to another address takes not less than half an hour to be send completely to your account.