bitcoin transactions - Slow OR Fast

[Text]

Bitcoin transaction is sometimes fast and sometimes slow, it depends on the confirmations by the network. For me it is slow because I made a transaction once and it take too long to confirmed, almost 3-4 hours ago it is not yet confirmed. Good thing there is a refund.

[Catmony]

Bitcoin transaction is sometimes fast and sometimes slow, it depends on the confirmations by the network. For me it is slow because I made a transaction once and it take too long to confirmed, almost 3-4 hours ago it is not yet confirmed. Good thing there is a refund.

The time of confirmation depends upon the fee you have included expect few times even to get your transaction included or confirmed in next block you may have to wait a hour with recommended fee.

[jak3]

there is actully no one forcing us that we have to wait 10minutes to start spending our coins if we want we can just accept the transaction at 0 confirmation.if the retailer is impacent then he can probably take this 0.01% risk of unpredictable risk

[Rinder]

there is actully no one forcing us that we have to wait 10minutes to start spending our coins if we want we can just accept the transaction at 0 confirmation.if the retailer is impacent then he can probably take this 0.01% risk of unpredictable risk

If the risk were soo low people wouldnt require atleast 1-3 confirmations, its a measure of security and protection, would you like to sell something and get the feeling the buyer can had double spent the value and you wont get a cent. The transactions are instant, just take some minutes to get confirmed, i dont see it as fast or slow its about security and its something i does care, and wait some minutes wont change anything.

[bitkilo]

there is actully no one forcing us that we have to wait 10minutes to start spending our coins if we want we can just accept the transaction at 0 confirmation.if the retailer is impacent then he can probably take this 0.01% risk of unpredictable risk

If the risk were soo low people wouldnt require atleast 1-3 confirmations, its a measure of security and protection, would you like to sell something and get the feeling the buyer can had double spent the value and you wont get a cent. The transactions are instant, just take some minutes to get confirmed, i dont see it as fast or slow its about security and its something i does care, and wait some minutes wont change anything.

The risk is quite low because not a lot of people even know how to execute a double spend properly.
When accepting a 0 confirmation transaction the retailer would have to weigh up the risk, if the item is just a $10 lunch then it will be worth taking the risk, if it's a $100k Porsche then maybe not.

There a still a few btc casinos that accept 0 confirmation deposits.

[shield132]

Mostly people, who are using blockchain, have this problem. I amn't using blockchain, I was using blocktrail and my local banks bitcoin wallet. Well, blocktrail was like blockchain for me but payments were not very fast but normal, from 40 minute to 1.5 hour. But on my local banks wallet, fee is 0.0001 on every transaction ( it doesn't matter if it's 1 or 0.001 btc) and payment is always very fast, from 30 minute to 1 hour.

[Decoded]

In my opinion, they're relatively fast. They may not meet up to paypal standards, but defenitely surpasses bank transaction standards.

[fritzdark]

In my opinion, bitcoin transaction is fast because in less than an hour I could already received the payments sent to me. and for me as a customer, i dont mind waiting for just a couple of minutes as lobg as i purchase what i want, then it will be fine.

[agamasrori]

In my opinion, bitcoin transaction is fast because in less than an hour I could already received the payments sent to me. and for me as a customer, i dont mind waiting for just a couple of minutes as lobg as i purchase what i want, then it will be fine.

I heard that we can cancel bitcoin transaction only in first ten minute after that no one can cancel bitcoin transaction. If the customers are really crowd it is need faster bitcoin transaction. I hope there sre some genious people who make it faster.

[ethereumhunter]

In my opinion, bitcoin transaction is fast because in less than an hour I could already received the payments sent to me. and for me as a customer, i dont mind waiting for just a couple of minutes as lobg as i purchase what i want, then it will be fine.

I heard that we can cancel bitcoin transaction only in first ten minute after that no one can cancel bitcoin transaction. If the customers are really crowd it is need faster bitcoin transaction. I hope there sre some genious people who make it faster.

really? because as far as i know, if we click the send button, then the amount is actually send and have seen by the network and we can not get our bitcoin back. but if this is true, then i think this can be use for people which have to make send into wrong address so they can fix the address and start to send into the right address.

[bitkilo]

In my opinion, bitcoin transaction is fast because in less than an hour I could already received the payments sent to me. and for me as a customer, i dont mind waiting for just a couple of minutes as lobg as i purchase what i want, then it will be fine.

I heard that we can cancel bitcoin transaction only in first ten minute after that no one can cancel bitcoin transaction. If the customers are really crowd it is need faster bitcoin transaction. I hope there sre some genious people who make it faster.

I don't know of anyway to cancel a transaction, if the transaction has not yet been confirmed you could try a double spend by sending the 2nd transaction with a higher fee if your wallet client allows it.

[arcanaaerobics]

In my opinion, bitcoin transaction is fast because in less than an hour I could already received the payments sent to me. and for me as a customer, i dont mind waiting for just a couple of minutes as lobg as i purchase what i want, then it will be fine.

I heard that we can cancel bitcoin transaction only in first ten minute after that no one can cancel bitcoin transaction. If the customers are really crowd it is need faster bitcoin transaction. I hope there sre some genious people who make it faster.

I don't know of anyway to cancel a transaction, if the transaction has not yet been confirmed you could try a double spend by sending the 2nd transaction with a higher fee if your wallet client allows it.

You can't cancel a transaction, if you put a low fee, after some days the transaction will return to you wallet if was not processed.
Yes you can use the double spend with a higher fee to cancel the first one however you will spend the same ammount anyway.

[Ziskinberg]

In my opinion, bitcoin transaction is fast because in less than an hour I could already received the payments sent to me. and for me as a customer, i dont mind waiting for just a couple of minutes as lobg as i purchase what i want, then it will be fine.

I heard that we can cancel bitcoin transaction only in first ten minute after that no one can cancel bitcoin transaction. If the customers are really crowd it is need faster bitcoin transaction. I hope there sre some genious people who make it faster.

I don't know of anyway to cancel a transaction, if the transaction has not yet been confirmed you could try a double spend by sending the 2nd transaction with a higher fee if your wallet client allows it.

You can't cancel a transaction, if you put a low fee, after some days the transaction will return to you wallet if was not processed.
Yes you can use the double spend with a higher fee to cancel the first one however you will spend the same ammount anyway.

It's new to my knowledge dude if what you are telling is true, what I know is that the transaction is irreversible and you cannot cancel the transaction. In my entire life since I started using bitcoin I have not experience any transaction being canceled even I am the receiver.

[madwica]

In my opinion, bitcoin transaction is fast because in less than an hour I could already received the payments sent to me. and for me as a customer, i dont mind waiting for just a couple of minutes as lobg as i purchase what i want, then it will be fine.

I heard that we can cancel bitcoin transaction only in first ten minute after that no one can cancel bitcoin transaction. If the customers are really crowd it is need faster bitcoin transaction. I hope there sre some genious people who make it faster.

I don't know of anyway to cancel a transaction, if the transaction has not yet been confirmed you could try a double spend by sending the 2nd transaction with a higher fee if your wallet client allows it.

You can't cancel a transaction, if you put a low fee, after some days the transaction will return to you wallet if was not processed.
Yes you can use the double spend with a higher fee to cancel the first one however you will spend the same ammount anyway.

It's new to my knowledge dude if what you are telling is true, what I know is that the transaction is irreversible and you cannot cancel the transaction. In my entire life since I started using bitcoin I have not experience any transaction being canceled even I am the receiver.

Correct that there is no botton key to cancel the transaction if this on process and this was a concern by more users to put cancel in every transaction. But my experience in my every transactio it was very fast to confirmed it.

[rinhunter]

In my opinion, bitcoin transaction is fast because in less than an hour I could already received the payments sent to me. and for me as a customer, i dont mind waiting for just a couple of minutes as lobg as i purchase what i want, then it will be fine.

but if you compared with another payment system, the bitcoin transactions is slow, and this led to the offline store owner think again to accept payments through bitcoin.

[rajasumi2]

in the present day bitcoin transaction is slow.but if u are comparing that with credit card transaction it is too slow  ..it may take some while to cope up with the same transaction speed with that of bitcoin .well i can assure that in the near future people will transact through bitcoins and it will be same as the bitcoin transaction and convinient too ..kudoos

[bitkilo]

in the present day bitcoin transaction is slow.but if u are comparing that with credit card transaction it is too slow  ..it may take some while to cope up with the same transaction speed with that of bitcoin .well i can assure that in the near future people will transact through bitcoins and it will be same as the bitcoin transaction and convinient too ..kudoos

Most credit card providers can process about 2000 transactions per second, bitcoin can currently handle about 1.5 transactions a second so there's the difference.

Still nothing wrong with the speed of bitcoin to me.

[n691309]

in the present day bitcoin transaction is slow.but if u are comparing that with credit card transaction it is too slow  ..it may take some while to cope up with the same transaction speed with that of bitcoin .well i can assure that in the near future people will transact through bitcoins and it will be same as the bitcoin transaction and convinient too ..kudoos

If we compare all online payment methods then bitcoin is not the faster nor the slowest one, so in average bitcoin is pretty good fast and not slow, but we know that there are much faster ways like credit cards, paypal etc which are instant.

[umar_alfaroq]

in the present day bitcoin transaction is slow.but if u are comparing that with credit card transaction it is too slow  ..it may take some while to cope up with the same transaction speed with that of bitcoin .well i can assure that in the near future people will transact through bitcoins and it will be same as the bitcoin transaction and convinient too ..kudoos

well when u use credit card or paypal, you still have to catch up with the bank later after your transaction. but in bitcoin, no catching up (unless u want to convert to traditional currency then yes).

[Xester]

in the present day bitcoin transaction is slow.but if u are comparing that with credit card transaction it is too slow  ..it may take some while to cope up with the same transaction speed with that of bitcoin .well i can assure that in the near future people will transact through bitcoins and it will be same as the bitcoin transaction and convinient too ..kudoos

Sometimes, Bitcoin transactions are slow but there are times that bitcoin transaction in my experience was fat. fast for wallet to wallet, and it depends on wallet you are using i think, sometimes you have to wait for the confirmation before you receive it. maybe it was just now, but sooner or later once bitcoins have fully introduce in the market, i know for sure.. transactions will become fast like a bullet train