Bitcoin Forum
November 14, 2024, 03:14:21 PM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Transit time of a BTC  (Read 947 times)
nomadwfs (OP)
Newbie
*
Offline Offline

Activity: 12
Merit: 0


View Profile
August 09, 2011, 03:57:49 AM
 #1

On average, how long has it actually taken for people to receive BTC sent? Based on the wiki, it says it could take anywhere from 10 minutes to hours, to days.

Do most people usually add a fee to speed up the transaction?
epetroel
Sr. Member
****
Offline Offline

Activity: 431
Merit: 251


View Profile
August 09, 2011, 04:18:29 PM
 #2

I'll usually receive it immediately.  How long it takes before they are available for use though depends on how many confirmations you need.  My experience has been that to get the 5-6 confirmations most exchanges require takes somewhere between 1 and 2 hours.  Sometimes faster, but usually not longer than 2 hours.
deepceleron
Legendary
*
Offline Offline

Activity: 1512
Merit: 1036



View Profile WWW
August 09, 2011, 04:39:56 PM
 #3

The Bitcoin difficulty targets a rate of six new transaction blocks per hour, so if your transfer includes an appropriate fee, it will be announced immediately to other clients, included in the next transaction block that is solved, and you will see the confirmation count increase to six (where the Bitcoin client status changes to confirmed) within about an hour. Sending to exchanges usually is between one and two hours, depending on how many confirmations they expect before making your funds available.
JoelKatz
Legendary
*
Offline Offline

Activity: 1596
Merit: 1012


Democracy is vulnerable to a 51% attack.


View Profile WWW
August 09, 2011, 04:53:09 PM
 #4

On average, how long has it actually taken for people to receive BTC sent? Based on the wiki, it says it could take anywhere from 10 minutes to hours, to days.

Do most people usually add a fee to speed up the transaction?
It depends on your definition of "receive". If you consider a pending transaction sufficient, then you can receive your BTC in seconds. If you consider "receive" to mean 6 confirmations, then it can take over an hour.

I am an employee of Ripple. Follow me on Twitter @JoelKatz
1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
phorensic
Hero Member
*****
Offline Offline

Activity: 630
Merit: 500



View Profile
August 10, 2011, 04:01:22 AM
 #5

I transferred 0.1 BTC with no transaction fee from my Windows box to my Ubuntu box.  Took about a half second...plus a few hours for the confirms to go through.
Jack of Diamonds
Sr. Member
****
Offline Offline

Activity: 252
Merit: 251



View Profile
August 10, 2011, 02:24:45 PM
 #6

As long as it takes for your transaction to be accepted by miners & 6 blocks to be mined.

Anywhere from 30 minutes to 2 hours usually, if you use a fee.

1f3gHNoBodYw1LLs3ndY0UanYB1tC0lnsBec4USeYoU9AREaCH34PBeGgAR67fx
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!