bitcoin transactions - Slow OR Fast

[irsykes]

maybe if use system like bitpay,people no need to wait to transaction get confirmed, and it can be used for online shopping that use bitcoin. after we send and bitpay detect it , the transaction would never go back right?

It's irreversible here, so it's a yes. Therefore we should be very careful with our transacting party as the moment we send that amount and we wrongfully send to a wrong bitcoin address we will never recover it as we are also anonymous here and it's hard to trace who that person you send the money.

i think about wrong address, it depends from themself because, if me want to send some bitcoin even on a little amount, i always re-check the receiver address 3 times before send it

[rikybrosh]

I think it fast enough becouse  I can Send money world wide in few minute, but some people said that it is not so fast.

[BitcoinPanther]

I think it fast enough becouse  I can Send money world wide in few minute, but some people said that it is not so fast.

The transaction speed is fast but the problem is the confirmation, it takes more than 10 min sometimes more than an hour, even if you pay the  transaction fee of 10k satoshi.  I often doubles the fee to make the confirmation of the transaction faster which proven to be effective in most cases. 

[umar_alfaroq]

I think it fast enough becouse  I can Send money world wide in few minute, but some people said that it is not so fast.

The transaction speed is fast but the problem is the confirmation, it takes more than 10 min sometimes more than an hour, even if you pay the  transaction fee of 10k satoshi.  I often doubles the fee to make the confirmation of the transaction faster which proven to be effective in most cases. 

but it sure is faster than any bank procedures... and cost less, isn't it?

[rajasumi2]

bitcoin transactions are becoming faster than u can expect .after a few days e shoops will be accepting bitcoins .well for this transaction u have to wait for 5-7 mints ,which is enough time for the bitcoin transaction .kudoos

[Schuyler]

My transactions are taking a while, but that is ok with me since that involves only a small amount. If the day comes that I am already transacting huge amounts, I am expecting that the transaction speeds become faster so that I can have more peace of mind. The waiting time can sometimes be daunting.

[prabowo96]

My transactions are taking a while, but that is ok with me since that involves only a small amount. If the day comes that I am already transacting huge amounts, I am expecting that the transaction speeds become faster so that I can have more peace of mind. The waiting time can sometimes be daunting.

I don't know why people keep watching until the transaction got confirmed, just chill, go work, go play and have fun...

Early or later the transaction will be confirmed, you don't need to refresh every minute.

[Vaskiy]

My transactions are taking a while, but that is ok with me since that involves only a small amount. If the day comes that I am already transacting huge amounts, I am expecting that the transaction speeds become faster so that I can have more peace of mind. The waiting time can sometimes be daunting.

I don't know why people keep watching until the transaction got confirmed, just chill, go work, go play and have fun...

Early or later the transaction will be confirmed, you don't need to refresh every minute.

Depending on the network speed and the transaction fee one get faster transaction. As quoted by above mate once on transfer you can see the bitcoin in the incoming status, then why to wait long or short time to see the confirmations. Most get panic and sometimes report this delay as an issue.

[clickerz]

My transactions are taking a while, but that is ok with me since that involves only a small amount. If the day comes that I am already transacting huge amounts, I am expecting that the transaction speeds become faster so that I can have more peace of mind. The waiting time can sometimes be daunting.

I don't know why people keep watching until the transaction got confirmed, just chill, go work, go play and have fun...

Early or later the transaction will be confirmed, you don't need to refresh every minute.

We know that once the transaction is sent, its ok and it will reach its destination after some confirmations but sometimes we are very excited to received it. I am checking alo the blockchain after I sent, just to make sure it is on it But you have a point here,as nothing to worry really.

But I observed now, transaction is fast when I withdraw from exchange. Maybe this is due to an increased fees they charged.

[Hung_Daddy]

Getting really slower as time goes by. I hope this can be changed. Paid some amount to make it faster. That is the only way for now.

Does the amount of BTC being traded dictate the speed of the transaction?

[Yuuto]

Getting really slower as time goes by. I hope this can be changed. Paid some amount to make it faster. That is the only way for now.

Yeah blocks have been full over the past few months and really this is an issue that needs to be solved immediately. Scalability issues are among the toughest things to tackle for a decentralized payment system, and it would be great if the devs can find a solution to tackle this.

For now, just pay more fees I guess.

[Fatanut]

Even when there are times when a single bitcoin transaction takes days before receiving, I don't think the word "slow" would still be appropriate. Just appreciate the whole sending money to abroad thing. Imagine doing it manually, it would take you days too but it would cost you a lot of money, time, and energy. Be grateful that the bitcoin network is there for you to send money anywhere in the world. Most of the time, it only takes 10 minutes for you to receive your coins anyway.

[Dr.Osh]

very difficult to say that the bitcoin transaction occurs slowly, because his transaction occurs very rapidly, however, confirm the make bitcoin becomes unusable. it can inhibit the activity that will be carried out for bitcoin users, but for those transactions, feels very fast

[BitMaxz]

very difficult to say that the bitcoin transaction occurs slowly, because his transaction occurs very rapidly, however, confirm the make bitcoin becomes unusable. it can inhibit the activity that will be carried out for bitcoin users, but for those transactions, feels very fast

As my experience the bitcoin transaction right now is depends in our fee i tried lowest recommend by electrum and it takes hours for me to receive..
And i tried to set the maximum fee and it takes minutes to receive and i think they are now relaying on the fee for priority of you transaction..
You can check this chart https://bitcoinfees.21.co/ and knows possible speed of your transaction or priority.

[chickenado]

it becomes slower because many bitcoin user now not like before. But if you want faster than other transaction you can choose but higher fees. For me it is okay even if fast or slow because bitcoin is like now a currency that almost all in cyberworld knows this mode of payment.

[AicecreaME]

Bitcoin transactions is fast, only the confirmation of the payment in the blockchain is not that fast enough but it would be surely received by the receiver after 10-45 minutes of confirmation on the blockchain depending on the bitcoins that are being process there everyday. It is also possible that bitcoin would be accepted in all of the stores in the near future since bitcoin is the future money after all.

[mirakal]

Bitcoin transactions is fast, only the confirmation of the payment in the blockchain is not that fast enough but it would be surely received by the receiver after 10-45 minutes of confirmation on the blockchain depending on the bitcoins that are being process there everyday. It is also possible that bitcoin would be accepted in all of the stores in the near future since bitcoin is the future money after all.

My qualification of a fast transaction is at least a one day processing and I have not experience in bitcoin transaction that it has lapse one day and I have not receive the bitcoins yet, surely bitcoin is fast compared to other processor like banks. We have to understand that we are worldwide and we can transact in minutes.

[davis196]

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.

If bitcoin is printed and used like paper money there is no waiting for confirmation.

I don`t see any problem with confirmations in online or offline transactions.

[mrr09]

Hard to say slow or fast.
Because everything depends on the individual transaction, choose the transaction slow or fast when transactions.
But, according to my own, bitcoin transactions can be called quickly.

[1Referee]

Even when there are times when a single bitcoin transaction takes days before receiving, I don't think the word "slow" would still be appropriate.

Most of the time, it only takes 10 minutes for you to receive your coins anyway.

Transactions come through instantly, so there is no way they can take days before the other party is receiving it. There is an important difference between transaction speed and the time your transaction needs to get its first confirmation. The latter is what can end up being quick or slow, which is depending on the sender as well.

If the sender includes an appropriate fee according the the byte size, then you'll get your transaction confirmed within 2 blocks for sure. But if you just continue sending transactions with only 0.0001BTC in fees, like people are used to, then you may have to wait for plenty of hours before seeing it confirmed. If you're in a real hurry, you can even choose to spend the received coins from an unconfirmed transaction, but that's not safe since you're exposing yourself to potential double spend attacks.