Can we really have fast transactions like the XRP?

[Cheesus]

Bitcoin transaction is not that slow, the problem is it takes a higher fee! Maybe your manager put a low transaction fee, so it took one day to finish. The same thing happened to me in a masternode website, I received my payment after 5 days and Bitcoin was pending in my wallet through those 5 days!
However, I don't think Bitcoin can be fast like Ripple with a lower fee, if you want to get your bitcoin fastly, you have to spend at least 6-7 USD!

[serjent05]

last time after our manager sent our rewards on signature campaign it took a day to confirm the transaction the longest transaction I've ever had. So I came to think of it if Bitcoin can have a fast transaction like Ripple (XRP).

Why are you complaining for 1 day? DO you know how long international wire transfers take? WEEKS.

I understand OP's stance.  We are talking about confirmation between cryptocurrency, not of fiat and cryptocurrency.  I also think that OP feels that it is annoying to wait for several hours when he is used to waiting 20 to 30 minutes before he can use his BTC.  The point of the post is to inform us that there is a solution to this problem being laid and it is the lightning network.  Its just the title is somehow a bit tricky to the point of misleading its reader.

Bitcoin transaction is not that slow, the problem is it takes a higher fee! Maybe your manager put a low transaction fee, so it took one day to finish. The same thing happened to me in a masternode website, I received my payment after 5 days and Bitcoin was pending in my wallet through those 5 days!
However, I don't think Bitcoin can be fast like Ripple with a lower fee, if you want to get your bitcoin fastly, you have to spend at least 6-7 USD!

It is slow compared to other cryptocurrency block confirmation.  Bitcoin have 10 minutes  and others have way less than that time to confirm blocks.  But I believe if lightning network is fully implemented it can rival any fast confirming cryptocurrency in the industry.

[batang_bitcoin]

Your experience was a little bit lower than most of us who experienced the slowest confirmation of all time (probably) by the end of 2017. IIRC, my longest transaction was nearly a week before it got confirmed.
Others doesn't get the idea of OP has, he's asking about if its possible that bitcoin could be upgraded with the same speed as XRP. But honestly speaking, the confirmation time right now isn't taking any longer. Around 3-7 minutes, most of my transactions were confirmed.

[Hypnosis00]

Your experience was a little bit lower than most of us who experienced the slowest confirmation of all time (probably) by the end of 2017. IIRC, my longest transaction was nearly a week before it got confirmed.
Others doesn't get the idea of OP has, he's asking about if its possible that bitcoin could be upgraded with the same speed as XRP. But honestly speaking, the confirmation time right now isn't taking any longer. Around 3-7 minutes, most of my transactions were confirmed.

Waiting for a week is a little bit worrying mate for sure, it sometime we could think of being hack as what it happens to me before when I withdraw it coming from HITBTC. It sometimes we might think of its high fees compared to the other coins and even ETH it also have low fees. I don't know what makes especial with BTC, instead, they should have to lower the transactions fees since a lot of people are using this.

But what XRP did is almost instant which some traders are converting their BTC into XRP cause of transaction fees and also its fast confirmation. How I supposed to see it happen also with BTC and possible to all cryptocurrency, maybe it is just fair.

[Vaskiy]

The transaction speed of xrp is much higher than bitcoin for various reasons. We have bitcoin to be working on the mining process while xrp is pre-mined. Out of 100 billion only 38 billion are in the market. Bitcoin is spread all around, 60% of xrp is being owned by Ripple.

On the whole Bitcoin is made and more as a money while ripple is made as a payment service for banks, payments network, commodities and much used for assets transfer through the network with a much reduced cost.

[lighpulsar07]

Well we have the lightning network implemented last 2018 but there's not enough advertising in it to convince people to use lightning network although the nodes connected to lightning network are already in 10000 still low amount of people using the network though and more people still using legacy addresses until now but i think in future, more start ups will move lightning network and people with full node will move too.

[pooya87]

of course we can. it is easy, we sacrifice the decentralization and security of bitcoin and become centralized like XRP and then it is easy to have fast insecure transactions that the centralized power who would control the chain by then could take away from you at any time if they wished to.

[Sancho18]

The Lightning Network project has been developed since the last bull season. Years have passed, but nobody really knows what's going on. Everything is done behind closed doors. I think this is against the nature of Bitcoin. It is said to bring better conditions, but there is still nothing. Could it be just a stillborn idea?

The Lightning Network is only suitable for small recurring payments. And this is definitely not the silver bullet that will make Bitcoin a “peer-to-peer payment system”, as it is written in its white paper.

[Wind_FURY]

last time after our manager sent our rewards on signature campaign it took a day to confirm the transaction the longest transaction I've ever had. So I came to think of it if Bitcoin can have a fast transaction like Ripple (XRP).

It's not Bitcoin's fault that you had to wait a day for your campaign payout to confirm. It's your campaign manager who chose to go with a low fee. Add low fee and you get unreliable confirmations. Add appropriate fee and you can almost accurately get your transaction confirmed by the next block or the one after that.

As for your main question, Lightning payments settle in a matter of seconds depending on the number of hops, but generally, 1-2 seconds is a pretty reliable estimate. However, currently it's mainly used for smaller payments due to the lower channel capacities and the overall liquidity. With some time that will drastically improve.

My point is If we can have a fast transaction like Ripple's (XRP) and at the same time with a small transaction fee. I know about low fees in bitcoin transactions will get you to my experience where you wait for a day to get it confirmed. If we can have low transaction fees in Bitcoin and at the same time a fast one, we can have smooth transactions all the time right? this is what I experience on XRP fast and Smooth.

So until now Lightning network hasn't been develop into capable of transacting a large number of Bitcoins? No wonder they still using the term Satoshi because it can only handle smaller payments.

I believe you should change what Bitcoin is in reality. Satoshi designed the network to be decentralized first, and therefore secure, not fast.

[yazher]

of course, we can. it is easy, we sacrifice the decentralization and security of bitcoin and become centralized like XRP and then it is easy to have fast insecure transactions that the centralized power who would control the chain by then could take away from you at any time if they wished to.

I believe you should change what Bitcoin is in reality. Satoshi designed the network to be decentralized first, and therefore secure, not fast.

I understand now, so that's how they got their speed by becoming centralized. I can sacrifice the speed rather than becoming centralized as pooya87 said: "insecure transactions will get us in trouble".  satoshi's main plan was to make bitcoins transaction to be decentralized. so to be more secure, they are not adopting the XRP technology as it gives Bitcoin holders unsecured transactions right? and the idea of secure transactions will no longer exist.

[EdenHazard]

I think it can be possible by doing some tweaks and updates on blockchain itself or updating some old stuff handling bitcoin transactions pretty sure thay may help in making bitcoin transaction a bit faster or even be instant just like Xrp.If xrp team achieved it why not bitcoin can right

Hurr Durr I don't understand different technologies. Like I said ripple is a centralized shitcoin utilized by fuck all, it's got a large market cap because they internally create tons at a time and don't push the supply out, it's all fabricated bullshit. Where Bitcoin is a true decentralized proof of work system with a limit cap. If you start changing things the block time can't be 10 minutes and your 21 million coin amount will be distributed early and then you'll have a negative effect on mining for fees.

Yupp the xrp distribution system is fucked just like fiat which is hurting cryptocurrency principle about how it supposed to be run decentralized. I will avoid comparing to xrp but xlm instead.

They launched the live net and lightning network beta last year which it's very much in development... we can't expect much but yeah i wish i could always send money through cryptocurrency without waiting any confirmation.

Let's see what xlm can do about this .

[hahahafr]

The robust network of bitcoin does not make it malleable to increase its transaction speed like other blockchain networks have. However, using the lighting network to make payments can help hasten the process. Also, i believe the bounty manager settled to pay very low transaction fee and that caused the delay.

[Malsetid]

Thats a lot  of work to do and to have faster transaction will affect the system drastically. There is Lightning Network already and hopes they can improve more. Overhauling the whole system is tedious and delicate, but necessity makes people to experiment and innovate try new system. I think its better to recreate the whole system, but I wonder many will support it as most people will stick to the original.

There's already an example of this and it's called BCH the results compared to Bitcoin aren't even close. Changing the rules mainly for faster transactions is unlikely, it needs the majority to agree before it can happen and this isn't good to begin with because the bad side of such changes tends to be ignored or less prioritized.

Thankfully! even though XRP is a useless coin for others, we can use it as an option to lower the fees of our transactions on some exchanges and with our local exchange Having XRP one of the coins that they Buying, we can directly send XRP to it then convert it to our local money then withdraw it, isn't it convenience?

So it's a Win-Win situation for us. After all, XRP is not a shitcoin like you guys say. at least for us.

If XRP was the only altcoin accepted on all exchanges then i'd agree but exchanges usually have several altcoins listed and there are better altcoins to choose from other than XRP.

They have. I use doge to transfer btc from one exchange to another. Though amongst the top coins in the market, ripple  is my top choice for cheap and fast transactions. It's definitely cheaper than bch. Even if btc transactions are a lot faster now, converting to alts is still cheaper and for me, way quicker than bitcoin.

[Wind_FURY]

of course, we can. it is easy, we sacrifice the decentralization and security of bitcoin and become centralized like XRP and then it is easy to have fast insecure transactions that the centralized power who would control the chain by then could take away from you at any time if they wished to.

I believe you should change what Bitcoin is in reality. Satoshi designed the network to be decentralized first, and therefore secure, not fast.

I understand now, so that's how they got their speed by becoming centralized. I can sacrifice the speed rather than becoming centralized as pooya87 said: "insecure transactions will get us in trouble".  satoshi's main plan was to make bitcoins transaction to be decentralized. so to be more secure, they are not adopting the XRP technology as it gives Bitcoin holders unsecured transactions right? and the idea of secure transactions will no longer exist.

"Insecure" in the context that the users have to trust a centralized third party that your transaction will go through, and hope that a government entity would not take the network down.

[timerland]

It really depends on the lightning network I guess, if it keeps working as intended, making smaller transactions dirt cheap, and confirming transactions super fast, we could definelty see BTC as a fast payment option, and viable for those everyday coffees.

I agree with Malse, even though I don't support ripple's views and I definetly don't like the centralised aspect, using ETH, and XRP to pay for small things is just so much easier compared to BTC.

[yazher]

"Insecure" in the context that the users have to trust a centralized third party that your transaction will go through, and hope that a government entity would not take the network down.

I just don't like the idea of being centralized, because at any moment they can make any reason for their escape scam. like the other exchanger with their hacking stories. then there will be no other way to get your coins back that is one of the bad consequences for holding a centralized coin.

That's why Even though they can have fast transactions with lower fees, they still behind Bitcoin.

[batang_bitcoin]

Your experience was a little bit lower than most of us who experienced the slowest confirmation of all time (probably) by the end of 2017. IIRC, my longest transaction was nearly a week before it got confirmed.
Others doesn't get the idea of OP has, he's asking about if its possible that bitcoin could be upgraded with the same speed as XRP. But honestly speaking, the confirmation time right now isn't taking any longer. Around 3-7 minutes, most of my transactions were confirmed.

Waiting for a week is a little bit worrying mate for sure, it sometime we could think of being hack as what it happens to me before when I withdraw it coming from HITBTC. It sometimes we might think of its high fees compared to the other coins and even ETH it also have low fees. I don't know what makes especial with BTC, instead, they should have to lower the transactions fees since a lot of people are using this.

But what XRP did is almost instant which some traders are converting their BTC into XRP cause of transaction fees and also its fast confirmation. How I supposed to see it happen also with BTC and possible to all cryptocurrency, maybe it is just fair.

I didn't think of it as hack honestly. Because we can see the record of transaction through the network and I'm sure that there's no others address that's associated why it was delayed.
The fees really varies and we can't control them so the higher you pay, the more priority you'll get. That's the solution that we can do for ourselves. I don't use XRP for my transactions or even convert my BTC to XRP.

[Wind_FURY]

It really depends on the lightning network I guess, if it keeps working as intended, making smaller transactions dirt cheap, and confirming transactions super fast, we could definelty see BTC as a fast payment option, and viable for those everyday coffees.

I agree with Malse, even though I don't support ripple's views and I definetly don't like the centralised aspect, using ETH, and XRP to pay for small things is just so much easier compared to BTC.

Or change our attitude on what Bitcoin "should be". It's not going to be "the next Paypal". Design decisions should always move more towards decentralization, security, and censorship-resistance, than speed.

[jarhed]

It really depends on the lightning network I guess, if it keeps working as intended, making smaller transactions dirt cheap, and confirming transactions super fast, we could definelty see BTC as a fast payment option, and viable for those everyday coffees.

I agree with Malse, even though I don't support ripple's views and I definetly don't like the centralised aspect, using ETH, and XRP to pay for small things is just so much easier compared to BTC.

Or change our attitude on what Bitcoin "should be". It's not going to be "the next Paypal". Design decisions should always move more towards decentralization, security, and censorship-resistance, than speed.

Even now, I know many people who use ripple for quick transfers between exchanges and among themselves. They do not want to use Bitcoin due to the fact that expensive transactions and are rather slow.

[mrBTCman]

I think it's possible just to switch to using XRP in such a case.
I know this might be not an answer to your question, but just think about it - if you need transactions like those from Ripple, so what do you want from Bitcoin? There are lots of coins that solve the issues with slow transactions, just some of them and don't make things more complicated than they are.