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Author Topic: how long does a bitcoin transfer take ?  (Read 28450 times)
Houdini
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July 06, 2011, 06:52:23 PM
 #1

With or without a tip ?
Because I'm in the process right now and both me and my trade partner are getting antsy...
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CNMOH
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July 06, 2011, 06:53:50 PM
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Usually you'll have the first confirmation within 10-15 minutes, which means the money will be available to the receiver to some extent. After 60-80 minutes, the transaction should be complete.

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July 06, 2011, 07:02:48 PM
 #3

Use blockexplorer.com to check the destination address to verify the transfer has begun.

Use Bitcoin tab on bitcoincharts.com and look for the address here to see if it is in unconfirmed transactions.

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July 06, 2011, 07:07:24 PM
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You should be able to see that the transfer has been initiated immediately, from either the buyer or seller perspective. It will still be "unconfirmed" though. Unless you have reason to believe that the sender is a computer whiz trying to con you, that stage is good enough. The transfer will be "confirmed" within 1-3 hours. At that point, nothing in the world could undo it.

Make sure that both your client show the full block chain. The number of blocks the client shows in the bottom right of the window must be 135063 or greater. If that isn't the case you have to wait for the client to finish catch up to date. (this could take a while)

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July 06, 2011, 09:20:17 PM
 #5

What a "transfer" is for you?. The transaction should completely flood the network within some seconds (Remember network latency and finite nature of c). There are 6 blocks per hour on average and the reference implementations will display "confirmed" after the transaction has been buried in 6 blocks. It's only included in the transaction listing of one block, the subsequent blocks will reference and hence validate the previous one.

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Houdini
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July 06, 2011, 11:06:40 PM
 #6

What a "transfer" is for you?.
Well for purposes of trading a transfer is done when the recipient sees the bitcoins in their balance, I thought that was obvious.


Use blockexplorer.com to check the destination address to verify the transfer has begun.
You should be able to see that the transfer has been initiated immediately, from either the buyer or seller perspective. It will still be "unconfirmed" though. Unless you have reason to believe that the sender is a computer whiz trying to con you, that stage is good enough. The transfer will be "confirmed" within 1-3 hours. At that point, nothing in the world could undo it.
Thanks alot for that tip, it will speed up my future trades ALOT !


P.S.
I just waited two damn minutes for the reply window to open !  Angry This forum is damn sluggish today ! And time is money !
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July 06, 2011, 11:13:05 PM
 #7

What a "transfer" is for you?.
Well for purposes of trading a transfer is done when the recipient sees the bitcoins in their balance, I thought that was obvious.

You quoted only a part of the message making it seem a dumb reply.

P.S.
I just waited two damn minutes for the reply window to open !  Angry This forum is damn sluggish today ! And time is money !

It's just you.

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Houdini
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July 06, 2011, 11:22:18 PM
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You quoted only a part of the message making it seem a dumb reply.
It wasn't a dumb reply, it was usefull, but I replied only to the part I needed to reply. Partial quoting is common on all forums.


P.S.
I just waited two damn minutes for the reply window to open !  Angry This forum is damn sluggish today ! And time is money !

It's just you.

It's not just me, my Internet connection is much faster then needed for his forum, my processor is fast enough, most other sites out there work perfectly fine, and this one usually works faster. But today sometimes it responds almost instantly and sometimes I wait for half a minute.
DamienBlack
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July 06, 2011, 11:24:42 PM
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P.S.
I just waited two damn minutes for the reply window to open !  Angry This forum is damn sluggish today ! And time is money !

It's just you.

It's not just me, my Internet connection is much faster then needed for his forum, my processor is fast enough, most other sites out there work perfectly fine, and this one usually works faster. But today sometimes it responds almost instantly and sometimes I wait for half a minute.

Yeah, I sometimes have a little bit of lag on the forum too. It was non-responsive a little while ago for a bit. It happens.

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July 06, 2011, 11:26:23 PM
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P.S.
I just waited two damn minutes for the reply window to open !  Angry This forum is damn sluggish today ! And time is money !

It's just you.

It's not just me, my Internet connection is much faster then needed for his forum, my processor is fast enough, most other sites out there work perfectly fine, and this one usually works faster. But today sometimes it responds almost instantly and sometimes I wait for half a minute.

Aren't you aware than there are more hops between you and the Bitcoin forum and they might have problems as well?.

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Houdini
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July 06, 2011, 11:29:55 PM
 #11

Yup, I know a bit about computer networks actually.
But everything else is working fine and this site has a history of slowdowns. So who would you blame ?
There are many threads on this forum about random slowdowns, look them up if you don't believe me.
This looks like a case of either not enough hardware power / bandwidth for the number of users, or DoS attack...
DamienBlack
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July 07, 2011, 12:41:00 AM
 #12

Thanks for the info, this truly helps.

NP, that's what I'm here for. Smiley

I trade bitcoin options at https://bitoption.org/ ... Join me.
I play poker at https://betco.in/ ... Join me.
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Houdini
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July 08, 2011, 02:03:44 AM
 #13

Thanks for the info, this truly helps.

NP, that's what I'm here for. Smiley
I don't see this author "Katherine" nor the sentence you're quoting anywhere in this thread, is this a case of a deleted post or have you mistakenly copied a quote from another thread ?
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