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Author Topic: How long Bitcoin Payment confirmations Takes maximum & Reasons  (Read 90 times)
67bd67bd
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February 18, 2018, 04:01:31 PM
 #1

How long Bitcoin Payment confirmations Takes, I had to face a terrible experience recently its takes almost 3 days to get 3 confirmations
As I confirmations didn't happen & where I send this they don't providing service until getting confirmations, Can anyone please tell me
Whats the maximum number of times it can take to get bitcoin confirmations? And Is it really matter to get confirmations means if confirmations didn't happen does bitcoin may refund to the wallet or such things  Shocked
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February 18, 2018, 04:11:04 PM
 #2

With the current state of the mempool (almost empty), I don't see why would your transaction take such long time unless you paid very low fees. It matters to wait for confirmations when you're dealing with someone you don't know/trust as there is a risk of double spend.

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February 18, 2018, 04:14:02 PM
Merited by OmegaStarScream (2)
 #3

Minimum amount of time: time to find next block (anywhere from about 30 seconds to 2 hours).
Maximum amount of time: supposedly 21 days (or never if the fee is too low).

Confirmation time is dependent on the fee per byte and average network fees. The number of input transactions and output transactions (how many input transactions you are spending and how many addresses are recieving the transaction) changes the size.

Refunding dependends on how you send it: if you send it from a wallet where you own the keys, then you technically never lost your coins. You have them until they confirmed. With an exchange, they may NOT recredit the coins without you asking for them back in which case it could take a while so always try to use a software wallet like bitcoin core (from bitcoin.org) or electrum from (electrum.org/#download).

Can you post any transaction IDs of transactions you have sent?

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February 18, 2018, 04:18:09 PM
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Minimum amount of time: time to find next block (anywhere from about 30 seconds to 2 hours).
Maximum amount of time: supposedly 21 days (or never if the fee is too low).

Confirmation time is dependent on the fee per byte and average network fees. The number of input transactions and output transactions (how many input transactions you are spending and how many addresses are recieving the transaction) changes the size.

Refunding dependends on how you send it: if you send it from a wallet where you own the keys, then you technically never lost your coins. You have them until they confirmed. With an exchange, they may NOT recredit the coins without you asking for them back in which case it could take a while so always try to use a software wallet like bitcoin core (from bitcoin.org) or electrum from (electrum.org/#download).

Can you post any transaction IDs of transactions you have sent?


Thanks for your comments,  So until get confirmations is there any way to get back the coins to my wallet ?
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February 18, 2018, 04:20:19 PM
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Minimum amount of time: time to find next block (anywhere from about 30 seconds to 2 hours).
Maximum amount of time: supposedly 21 days (or never if the fee is too low).

Confirmation time is dependent on the fee per byte and average network fees. The number of input transactions and output transactions (how many input transactions you are spending and how many addresses are recieving the transaction) changes the size.

Refunding dependends on how you send it: if you send it from a wallet where you own the keys, then you technically never lost your coins. You have them until they confirmed. With an exchange, they may NOT recredit the coins without you asking for them back in which case it could take a while so always try to use a software wallet like bitcoin core (from bitcoin.org) or electrum from (electrum.org/#download).

Can you post any transaction IDs of transactions you have sent?


Thanks for your comments,  So until get confirmations is there any way to get back the coins to my wallet ?

What wallet are you using? If the coins are not yet confirmed it means they still belong to you. With bitcoin core & Electrum (RBF) you can initiate a double spend to another adress you own, if you want to make sure you keep control of the coins ( because the transaction was a mistake, or it is taking to long etc.).

If your fee is high enough it will get confirmed faster then the other transaction.

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February 18, 2018, 04:22:20 PM
 #6

Thanks for your comments,  So until get confirmations is there any way to get back the coins to my wallet ?

That depends on what wallet it is?

For a non-exchange wallet. You own the private keys so you can do a double spend on it to sweep the coins back into your wallet (ie making an iinternal trnasaction with a higher fee to get confirmed before the other one does or to at least knock it out of the mempool). You can do a RBF double spend or a CPFP transaction also (the first requires you to own the sending address, the second requires for you to own the recieving address).

For an exchange, I don't think they'll do anything other than saying, "you'll have to wait for a confirmation as there's nothing we can do" until of cours it's been about a month or two and they recredit the coins (in some cases with a bad service exchange).

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February 18, 2018, 04:23:21 PM
 #7

Confirmation time depends on the amount of unconfirmed transactions in the mempool.

Ideally it should be less than 12 - 30 minutes, but if there is a large amount of transactions waiting to be confirmed, it will take longer. In order for your transaction (tx) confirmed the fastest, you have to be ahead of the queue by paying a larger miner's fee.

Also, your unconfirmed transaction will stay in mempool for 4 days until nodes drop it off from their mempools. The best way to get it unstuck in the mempool is to do one of the following:


Best tools to compute miner's fee:
https://dedi.jochen-hoenicke.de/queue/#24h
https://coinb.in/#newTransaction (to know how big your TX is in bytes)

Example: a typical BTC TX is 226 bytes, according to Johoe's graph,I need to pay at least 30 satoshis per byte to get ahead of most pending TX, that's 6,780 satoshis for 226-byte TX.


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February 18, 2018, 04:24:54 PM
 #8

Thanks for your comments,  So until get confirmations is there any way to get back the coins to my wallet ?

That depends on what wallet it is?

For a non-exchange wallet. You own the private keys so you can do a double spend on it to sweep the coins back into your wallet (ie making an iinternal trnasaction with a higher fee to get confirmed before the other one does or to at least knock it out of the mempool).

For an exchange, I don't think they'll do anything other than saying, "you'll have to wait for a confirmation as there's nothing we can do" until of cours it's been about a month or two and they recredit the coins (in some cases with a bad service exchange).

I use blockchain & don't go with exchanger , I often buy sell items most of the times to pay bills to freelancer.
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February 18, 2018, 04:31:35 PM
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Thanks for your comments,  So until get confirmations is there any way to get back the coins to my wallet ?

That depends on what wallet it is?

For a non-exchange wallet. You own the private keys so you can do a double spend on it to sweep the coins back into your wallet (ie making an iinternal trnasaction with a higher fee to get confirmed before the other one does or to at least knock it out of the mempool).

For an exchange, I don't think they'll do anything other than saying, "you'll have to wait for a confirmation as there's nothing we can do" until of cours it's been about a month or two and they recredit the coins (in some cases with a bad service exchange).

I use blockchain & don't go with exchanger , I often buy sell items most of the times to pay bills to freelancer.
Blockchain doesn't really allow you to initiate RBF/Double spend.

The only option you have is a CPFP ( Which is only possible if you control the adress the funds were send to, and the adress belongs to a wallet such as electrum) Blockchain.info for example also won't allow you to initiate a CPFP.

OR, you will need to export your private keys out of blockchain.info, which is only possible by converting the blockchain.info seed to BIP39 and then import it to Electrum?


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February 18, 2018, 04:33:27 PM
 #10

Thanks for your comments,  So until get confirmations is there any way to get back the coins to my wallet ?

That depends on what wallet it is?

For a non-exchange wallet. You own the private keys so you can do a double spend on it to sweep the coins back into your wallet (ie making an iinternal trnasaction with a higher fee to get confirmed before the other one does or to at least knock it out of the mempool).

For an exchange, I don't think they'll do anything other than saying, "you'll have to wait for a confirmation as there's nothing we can do" until of cours it's been about a month or two and they recredit the coins (in some cases with a bad service exchange).

I use blockchain & don't go with exchanger , I often buy sell items most of the times to pay bills to freelancer.

I'm not sure that CPFP and RBF are built into that online wallet.
Based on blockchain.info's general buggyness if the fees are too low/not confirming on time then I'd suggest you download electrum from electrum.org/#download it doesn't need the space bitcoin core does (only a couple of MB) and if you're running iwndows, you can run a portable version so no installation needs to be done (there is an issue with portable versions only when they're on external storage drives) if you keep them on your internal hard drive in you're computer, it's as secure as if it were installed (and also the wallet file is a bit harder to find as it isn't in the regular data directory) - you can then set fees dynamically to confirm from anywhere between the time of the next block, or 25 blocks (the 25 blocks should take 250 minutes to confirm, it is generally an overestimate as mine normally confirm in a much faster time than those 250 minutes and I use that one the most for non urgent transactions).

If you keep using blockchain.info, you might want to just check how it estimates your fee and see if you can change it to be a bit higher (though I wouldn't suggest using a manual fee each time as that that takes some effort).

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February 19, 2018, 06:37:00 PM
Merited by KennyR (2)
 #11

On average, it takes about 10 minutes to find each block. The average block time can actually be slightly shorter or longer depending on if the total hash power of the Bitcoin network is growing or shrinking. Ignoring this detail though, this is why 6 confirmations take about 1 hour on average.

This is the minimum transaction confirmation speed for each block. Fees defines all matter here on the transactions. If you goes with the low fees like Economy fees or something else you will not the transaction confirmation as expected.

Since the pools seems empty. We cannot find the transaction confirmation issue due to network delay and all.

Still you find the delay, please share the tx id to help in accelerating it or use the below link to done that.
https://www.antpool.com/user/prioritiseTransaction.htm


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