Bitcoin VS Altcoin Transaction Confirmation Speed

[bit-emperor]

i have any experience send bitcoin to other btc wallet adress and it is needed about minimum 1 hour to get 1 confirmation even today i sent about 0,035 btc needed about 4 hours to get 2 confirmation, compare to dogecoin is very fast also bitcoin cash and other altcoins, why this can be happen, as we know bitcoin is the pioneer and king of the cryptocurrencies

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[talkbitcoin]

because other altcoins are designed differently. for example in case of Dogecoin blocks are being found so much faster (1 minute) than 10 minutes on average for bitcoin.

but this faster block generation means blockchain size grows that much faster too. (10 times faster in this case). but that is only if anyone uses these coins though not if they remain useless and empty.
and that imposes lots of issues. for example as of nearly June 2017 you can no longer sycn your Ethereum wallets fully because of how huge the blockchain is and how slow the process is. according to stats websites such as ethstats.net there are only 50 nodes running and the rest are pruned clients and light weight wallets leaching of them. and that is the exact definition of centralization.

[bit-emperor]

because other altcoins are designed differently. for example in case of Dogecoin blocks are being found so much faster (1 minute) than 10 minutes on average for bitcoin.

but this faster block generation means blockchain size grows that much faster too. (10 times faster in this case). but that is only if anyone uses these coins though not if they remain useless and empty.
and that imposes lots of issues. for example as of nearly June 2017 you can no longer sycn your Ethereum wallets fully because of how huge the blockchain is and how slow the process is. according to stats websites such as ethstats.net there are only 50 nodes running and the rest are pruned clients and light weight wallets leaching of them. and that is the exact definition of centralization.

very clear for me, thank you for info sir

[Jonashe]

Every altcoin are faster than bitcoin, this is a no match. But they are also less secure. Bitcoin is slow, yes, but it's relative. For an international transfert fund he's fast compared to classic payment system. Even if altcoins are faster but none of them have the same network effect or use.

[teilwalL05]

You can see the range of gap on the value right on every coin bitcoin is has so much lead than any other Altcoins that is why you will need many hash time and will need a huge amount of fee to be transfer, I think this includes if an Altcoin price got so much price then the miners fee will be a huge disadvantage if you want a faster transaction.

[avikz]

Bitcoin is the pioneer of the blockchain technology and when it was launched, no other coin existed. So when the altcoins were built, it was built to cover the existing gaps of blockchain. The transaction confirmation time mainly depends on the block size and the block discovery time. So when altcoins were built, it covered that gap of existing blockchain and made more robust. That is the reason why every altcoin is faster than bitcoin.

[mk4]

Bitcoin is slower than most, yes. But bitcoin is miles away in terms of security and global adoption. Bitcoin has been attacked a lot of times but failed; attackers only congested the blockchain, hence slower transactions. But your bitcoin was almost never at a risk unless you did something stupid yourself.

[KikloV]

i have any experience send bitcoin to other btc wallet adress and it is needed about minimum 1 hour to get 1 confirmation even today i sent about 0,035 btc needed about 4 hours to get 2 confirmation, compare to dogecoin is very fast also bitcoin cash and other altcoins, why this can be happen, as we know bitcoin is the pioneer and king of the cryptocurrencies

Bitcoin confirmation times sucks always has.
The So-called King is Slow Fat & Lazy.

Coins like ZEIT can complete 4 transactions in 2 Minutes and no asics required.

ZEIT transactions fees are fixed and processed in the order of creation like bitcoin was before they messed it up.


 

[stompix]

i have any experience send bitcoin to other btc wallet adress and it is needed about minimum 1 hour to get 1 confirmation even today i sent about 0,035 btc needed about 4 hours to get 2 confirmation, compare to dogecoin is very fast also bitcoin cash and other altcoins, why this can be happen, as we know bitcoin is the pioneer and king of the cryptocurrencies

Bitcoin confirmation times sucks always has.
The So-called King is Slow Fat & Lazy.

Coins like ZEIT can complete 4 transactions in 2 Minutes and no asics required.

ZEIT transactions fees are fixed and processed in the order of creation like bitcoin was before they messed it up.
 

And the result is?
https://chainz.cryptoid.info/zeit/
Nobody is using this crapcoin.
It might be fast it might be cheap but is worthless.

Doge was thought to be a real replacement for micro transactions  since 2013 when it had briefly overtaken bitcoin in number of tx/day.
What happened since? It went down and down and it's breathing its last blocks.
The most important thing is not speed, it's usage and userbase. You coin has 0 of both.

[mobnepal]

Altcoin's price is really low compared to bitcoin and there is not many transactions happening on alt network that's why almost all of the block mined will be either empty or only contain few transactions so the fee when sending alts is very low and also fast because their block time is just few seconds to a minute while bitcoin is only mined at an average of 10 minute.

If you will include enough fee (currency very high because lots of miners have shifted towards bitcoin cash temporarily) you will get confirmation within few minutes (10-20 minute average).

[mk4]

Bitcoin is slower than most, yes. But bitcoin is miles away in terms of security and global adoption. Bitcoin has been attacked a lot of times but failed; attackers only congested the blockchain, hence slower transactions. But your bitcoin was almost never at a risk unless you did something stupid yourself.

So why peoples love bitcoins and invest in bitcoins if bitcoins have slow transactions?

Re-read what I said in your quote of my past reply. I just clearly stated some points on why I personally think bitcoin is still a good coin to use and to invest in.

[Dewi08]

Bitcoin is slower than most, yes. But bitcoin is miles away in terms of security and global adoption. Bitcoin has been attacked a lot of times but failed; attackers only congested the blockchain, hence slower transactions. But your bitcoin was almost never at a risk unless you did something stupid yourself.

So why peoples love bitcoins and invest in bitcoins if bitcoins have slow transactions?

Not all depends on the miners and the fee that we set making the delivery will be more quickly sent ..

[Kaller]

This is an ongoing thing in the space that is starting to get frustrating because people aren't taking the time to look into the networks they're going to be using. Bitcoin is not meant for fast and cheap transactions right now. It is supposed to be this way so people use it as a store of value while the network becomes more decentralized and more secure. In the meantime sure you can use LTC for small spends.

[KikloV]

i have any experience send bitcoin to other btc wallet adress and it is needed about minimum 1 hour to get 1 confirmation even today i sent about 0,035 btc needed about 4 hours to get 2 confirmation, compare to dogecoin is very fast also bitcoin cash and other altcoins, why this can be happen, as we know bitcoin is the pioneer and king of the cryptocurrencies

Bitcoin confirmation times sucks always has.
The So-called King is Slow Fat & Lazy.

Coins like ZEIT can complete 4 transactions in 2 Minutes and no asics required.

ZEIT transactions fees are fixed and processed in the order of creation like bitcoin was before they messed it up.
 

And the result is?
https://chainz.cryptoid.info/zeit/
Nobody is using this crapcoin.
It might be fast it might be cheap but is worthless.

Doge was thought to be a real replacement for micro transactions  since 2013 when it had briefly overtaken bitcoin in number of tx/day.
What happened since? It went down and down and it's breathing its last blocks.
The most important thing is not speed, it's usage and userbase. You coin has 0 of both.

You known the 1 bad thing about this bitcoin topic section , is it is loaded with Dumb asses like you .
Go pay $20 to send bitcoin and shut the fuck up.

Facts ZEIT has a multimillion dollar market cap, it's transaction capacity is 20X that of your shitcoin aka bitcoin.
It can still be used in the micropayment industry, it is affordable even for people in 3rd world countries.
It is energy efficient ,and their is still time for people to get in before the price skyrockets.
Unlike dogecoin, ZEIT  now only makes ~500 coins per day, so unlike others our inflation is controlled

From Aug 2014, You made a much higher profit buying ZEIT than bitcoin.
So shove that where the sun don't shine, you dumb ass.

What's truly frustrating is that there are so many people coming out of the wood works to complain about Zeit who all of us that have been here from the beginning have never heard from before. So the real question for all of you who are complaining about Zeit is this: What have you done for the coin to help it grow?

I am beginning to think , they are just a bunch of paid fudders.
They keep repeating the same lie over and over again trying to make it seem true.

The fact is ZEIT is ~7 Times more profitable than BTC in the same time period.
As of today BTC profit margin is ~12X from aug2014
verses
As of today ZEIT profit margin is ~83X from aug 2014.

What kind of moron can't see 83X is worlds better than 12X?
It is not even close.

Unlike other coins, we still have people like Steve, Rent_A_Ray , myself , and the Knights and others that have been here for years.
Compare that with coins like mint, that have been thru multiple devs and teams , all the while ZEIT Knights have been here
throughout the ups and downs and will continue to be here.

 

[hakuna]

You could take a look at this article, recently published https://blog.gridplus.io/money-vs-cryptocurrency-the-real-costs-part-1-33c09dfea671
It compares traditional money transfers with Bitcoin and Ethereum.
The verdict is that Bitcoin is competitive in terms of time and costs with respect to check and wires, and that Ethereum is cheaper and faster.