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Author Topic: Maximum wait for transaction.... does generating influence?  (Read 1009 times)
4n0n
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June 17, 2011, 10:01:47 AM
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What is the maximum length of time you wait for a transaction to come through?

I transferred a Bitcoin from VirWoX approx 8 hours ago which is my first Bitcoin transaction.  The BitCoin client is showing 1 connection (has been as high as 6 and hovered at 3 for some time).

How long should I wait before getting worried and how many connections do you guys average at and does generating influence speed?

Thanks for any help.

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FrenchTart
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June 17, 2011, 10:03:10 AM
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I wouldn't start worrying.  Transactions can take a while sometimes.  There's a post just lower down the page where one person was waiting ~20 hours.

In short: It'll come through eventually Smiley
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June 17, 2011, 10:03:43 AM
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Is your client caught up on the blockchain? What does it say for  blocks in the bottom right? Should be ~131411 right now.

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4n0n
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June 17, 2011, 10:10:05 AM
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Thanks for the fast replies, yes it's exactly 131411 blocks.  Is this a delay because of a first transaction or is the delay similar for all?
NoFeeMining
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June 17, 2011, 10:43:01 AM
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In my experience transactions come through almost always within a few minutes.


It is possible that it takes longer due to the p2p nature of the system but there is no reason to worry until it really hasn't come through for a day or two. Maybe you can contact whoever sent it and ask them for a transaction id or something

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kw71
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June 17, 2011, 11:52:51 AM
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They seem to show up nearly instantly in my experience, but with 0 confirmations.  Confirmations can take a while. 
4n0n
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June 17, 2011, 04:02:42 PM
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Thanks for the replies.

It still isn't through so I'm just being patient.  How long do the two or three necessary confirmations take to come through on average?
kw71
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June 17, 2011, 04:24:36 PM
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Average: 10 minutes each.  However you should wait til you have six.
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June 17, 2011, 04:42:25 PM
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Cool, six is the magic number, thanks.
TeaRex
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June 17, 2011, 04:52:27 PM
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Nothing magic about the number six, every confirmation just makes it more certain that there's nothing fishy about the transaction. The standard client developers chose to to mark a transaction as confirmed after six confirmations, but that's essentially an arbitrary choice.

With big sums I'd definitely wait for some more than six before you e.g. release cash or ship physical goods. With small sums, you could reasonably risk shipping after three or four confirmations.

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kw71
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June 17, 2011, 05:12:54 PM
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They are probably "safe in stone" at two deep.  I haven't seen the block chain split.  Has it before?
4n0n
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June 17, 2011, 06:10:28 PM
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It's probably safer than a potential PayPal chargeback after one anyway.  Smiley

Good info though.  Thanks.
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June 18, 2011, 11:31:54 AM
 #13

It's now over 30 hours and no sign.... currently at 131610 blocks.   

What's the next step in checking this.... the VirWoX account shows a transfer out at the time I transferred it.
4n0n
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June 18, 2011, 07:24:12 PM
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It turns out it was VirWoX who delayed the transaction - I checked their support FAQs and.....
Quote
What is the "manual step" required to process some withdrawals, and how long does it take?

Withdrawals to bank accounts are usually processed on the morning of the next business day. While most withdrawals to PayPal, NETELLER, Moneybookers, and Bitcoin accounts are processed instantly, we manually check some of them for security reasons. They will be processed within 48 hours. In any case, you will receive an email confirmation when the withdrawal has been processed.

.... so apparently mine had been delay for security reasons.  I received a confirmation email an hour ago that the payment had been approved and it's in my BTC wallet.  It would have been nice of them to let me know it was being intentionally delayed for security checks in the first place.

Anyway that's the conclusion.... Bitcoin has been admonished of all responsibility Smiley
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