Why are transaction times so slow?

[eckmar]

My transaction has been completed, looks like there was a lot of load on the block chain. Still waiting for Segwit to be able to give us 8Mbs/block. Anyone have an idea when that will be?

Yes.  I have an idea when that will be: Never.  SegWit doesn't do 8MB.  SegWit will never do that.  SegWit is being carefully restricted to 1MB by Core.  Indeed, they are looking for ways to go to .5MB.  I am not kidding about this. 

Just use Bitcoin Cash.  They already have 8MB running right now and they have very short confirmation times and very low fees.  It is already running.  You don't need to wait for anything.

Yeah they do got that. But that doesn't change the fact that BCC is not supported by anyone and you can't do shit with it. So no point in recommending someone to witch if it's not accepted. It's as if you would say "Well just use Litecoin" cool man but no one wants to get paid with it.

Most exchanges will let you trade BCH directly for Fiat. Same goes for Litecoin and Ethereum - you can change it directly for fiat. So it makes sense to use those while bitcoin sorts itself out.

Yeah if you want to pay huge fee for that service. What if you want to use LocalBitcoins for example ? We can't deny it, if you want to pay/get paid use Bitcoin, other coins are just investment opportunities. No real world use.

[BureauChef]

I think blockchain network os bitcoin is still under attacks. That can be the reason why it's so busy and transactions get confirmed so slowly. Without paying extreme fees, it's almost impossible to get confirmed in very short time. I wish to see this was solved with segwit implementations.

[Vishnu.Reang]

Most exchanges will let you trade BCH directly for Fiat. Same goes for Litecoin and Ethereum - you can change it directly for fiat. So it makes sense to use those while bitcoin sorts itself out.

But have you checked the BCH vs fiat and ETH vs fiat volumes? They are very low when compared to BCH vs BTC and ETH vs BTC volumes. But the volumes for the former group is showing signs of increase, for the past few days.

[Mister1k]

Most exchanges will let you trade BCH directly for Fiat. Same goes for Litecoin and Ethereum - you can change it directly for fiat. So it makes sense to use those while bitcoin sorts itself out.

But have you checked the BCH vs fiat and ETH vs fiat volumes? They are very low when compared to BCH vs BTC and ETH vs BTC volumes. But the volumes for the former group is showing signs of increase, for the past few days.

ETH is nothing compare to the BCH or btc. When bitcoin is splited as BCH I noticed gradual growth in payment wise. Block separation and increase of block size will increase the cost of the btc even more than now.
You could have ignore the selling and hold it for long time.

[dreamer81]

It's within the nature of bitcoin to have slow (10 minutes) transaction times. It's not going to be any other way than this.
You should check out litecoin. I just did a massive payment with 18 outputs, the transaction was verified within 1 minute and several confirmations after that.

I know why they call it the silver, it's really effective for paying. FOrget about bitcash, it will never be fast. Litecoin for payment, and bitcoin for value reserve.

[swscowods]

Hello! I am not sure if this is the wrong board or not, but I would like to ask.

Why are the transaction times so slow? I have sold an item online around 5 hours ago and my transaction is still on 0 confirmations.
Transaction TX:ID

Is there a problem with my wallet or is it just the network that is currently slow.

The transaction times are slow because you used a low transaction fee probably, if you used a high transaction fee your transaction would get confirmed very fast and you would not even know that lots of transactions are still waiting to be confirmed.