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Topic: Average Transaction Time (Read 744 times)
spndr7
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Average Transaction Time
January 15, 2014, 05:21:41 PM
Last edit: January 15, 2014, 05:54:16 PM by spndr7
#1
Is there any way to know/guess average transaction time, for a transaction sent without any fees with it ?
Please share any recent experiences,if some one tried it ?
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AmericanBit
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Re: Average Transaction Time
January 15, 2014, 05:33:27 PM
#2
Quote from: spndr7 on January 15, 2014, 05:21:41 PM
Is there any way to know/guess average transaction time, for a transaction sent without any fees with it ?
Well how quickly do you get to work, when youre not getting paid for it? Youd probably take your time...maybe stop for some starbucks on the way?
spndr7
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Re: Average Transaction Time
January 15, 2014, 05:56:19 PM
#3
Please share any recent experiences,if some one tried it ?
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xb0x
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Better don't say if you don't know!
Re: Average Transaction Time
January 15, 2014, 06:00:35 PM
#4
almost 24 hr to get a single confirmatiom or even more than that in some case
AmericanBit
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Re: Average Transaction Time
January 15, 2014, 06:01:59 PM
#5
Quote from: spndr7 on January 15, 2014, 05:56:19 PM
Please share any recent experiences,if some one tried it ?
I think you kind of answered it with your question...its anyones guess. Only 7 bitcoin transactions can execute a second. So they often get backed up hundreds at a time at some points. So the question should be, does your transaction get bumped by older transactions that pay a higher fee...
spndr7
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Re: Average Transaction Time
January 15, 2014, 06:11:19 PM
#6
Quote from: AmericanBit on January 15, 2014, 06:01:59 PM
Quote from: spndr7 on January 15, 2014, 05:56:19 PM
Please share any recent experiences,if some one tried it ?
I think you kind of answered it with your question...its anyones guess. Only 7 bitcoin transactions can execute a second. So they often get backed up hundreds at a time at some points. So the question should be, does your transaction get bumped by older transactions that pay a higher fee...
Thanks
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spndr7
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Re: Average Transaction Time
January 16, 2014, 11:58:49 AM
#7
Quote from: xb0x on January 15, 2014, 06:00:35 PM
almost 24 hr to get a single confirmatiom or even more than that in some case
How much did you paid in fees ?
What is the minimum fees required to process transaction in 24 hrs ?
I think bitcoin will be used only for larger transactions and other coins for smaller transactions,as the value of bitcoin increases.
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e4xit
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Re: Average Transaction Time
January 16, 2014, 02:20:19 PM
#8
Quote from: spndr7 on January 16, 2014, 11:58:49 AM
Quote from: xb0x on January 15, 2014, 06:00:35 PM
almost 24 hr to get a single confirmatiom or even more than that in some case
How much did you paid in fees ?
What is the minimum fees required to process transaction in 24 hrs ?
I think bitcoin will be used only for larger transactions and other coins for smaller transactions,as the value of bitcoin increases.
Where did you get this original idea from? I want one!
You could always try the search bar for things that have been raised 100 times already (or better still a google custom search).
Not your keys, not your coins.
CoinJoin, always.
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