how bitcoin received in couple of seconds?

[cafter]

i was watching this video  : https://youtu.be/MLmYPNe6UkA?t=17
at that instant a man sent $1 worth of bitcoins, but the bitcoins received in couple of seconds, how it is possible when it takes 10minutes to confirm a block or transaction.

or the 10minutes it going to be over at that time? or anything different happened here?

[darkv0rt3x]

Not even going to watch the video because it seems to me shitcoinery stuff. I don't even know why people still watch that kind of crap as if it is going to last forever!

[Nwada001]

Bitcoin usually doesn't take that much time to arrive; the speed or slowness of the time of arrival most times depends on network congestion, but this kind of transaction, which was performed on that video, looks like something that is done using a centralized system, which is just like an internal transfer and doesn't need any form of network confirmation. Even if you use a wallet that shows an unconfirmed transaction, it's not possible for a sent transaction to show up immediately on the receiver's wallet.

[Zaguru12]

Bitcoin usually doesn't take that much time to arrive; the speed or slowness of the time of arrival most times depends on network congestion, but this kind of transaction, which was performed on that video, looks like something that is done using a centralized system, which is just like an internal transfer and doesn't need any form of network confirmation. Even if you use a wallet that shows an unconfirmed transaction, it's not possible for a sent transaction to show up immediately on the receiver's wallet.

Exactly it doesn’t need to be the 10 minutes because on a centralized exchange like binance, one confirmation of the transaction is all it takes. And this one confirmation is just gotten immediately a transactions is varified and added to a block.

However the video didn’t specify the transaction fee paid for the transaction it could be a fee that is enticing to the miners and they picked it up fast. But I doubt the swift transfer of funds in that video

[Frankolala]

That transaction was done in a centralized exchange that don't charge for transaction fee. It is faster that way because the coin was in someone custody and was realized immediately to the receiver after they have agreed in the transaction.

On a decentralized wallet,$1 worth of bitcoin is too small to transfer because you have to pay for transaction fee which will be higher than $1 presently because transaction fee has increased due to congestion in the mempool. You have to be careful with the videos that you watch on YouTube because some are misleading.

[lionheart78]

i was watching this video  : https://youtu.be/MLmYPNe6UkA?t=17
at that instant a man sent $1 worth of bitcoins, but the bitcoins received in couple of seconds, how it is possible when it takes 10minutes to confirm a block or transaction.

or the 10minutes it going to be over at that time? or anything different happened here?

It is possible because the time Bitcoin was sent miners are able to include the transaction on the newly mined block.  It is possible because of the possibility of the block being mined a second after the transaction was sent. Indeed the bitcoin block time is every 10 minutes but it doesn say 10 min. after you sent your transaction.  See: https://thebitcoinmanual.com/articles/btc-block-time/

Block time is the measure of the time it takes the miners within a network to verify transactions within one block and produce a new block in that blockchain. Once a second block is added, the previous block has a greater degree of security that it cannot be rolled back, and this is called a confirmation.

It is the measure of time it takes the miners (not the sender) to verify the transaction within one block and produce a new block in the blockchain.  So as I am explaining, it is possible that the transaction was sent a second before the miners found a block and included the transaction on that block.  More likely there is a sufficient transaction fee to be able to be included on the priority transactions.

[Potato Chips]

New transactions will reflect instantly on wallets however it will be unconfirmed. The wallet used for receiving had many transactions tagged as "pending" and only one is with confirmations so it's likely it could be the case.

Both devices had a wallet with different UI so I don't think the transfer was done within an exchange.

[Mr.sprin]

I'm surprised there are still people who still believe in things like this, we can all see on the Binance market every second there is a bitcoin transaction and it doesn't take 10 minutes to wait for a bitcoin transaction, even if someone has to wait 10 minutes it's all not a problem with the market only interference on your internet network, try to go to a good network then you won't wait up to 10 minutes.

[mejarm]

The underlying technology of the Bitcoin network allows transactions to be received in a matter of seconds. A Bitcoin transaction is transmitted through the network and is received by Bitcoin nodes, which are computers connected to the Bitcoin network, when it is sent. These nodes confirm the transaction and add it to the mempool, a collection of pending transactions.

The Bitcoin network's members, known as miners, choose transactions from the mempool and include them in blocks by using their computing resources to safeguard the network. They accomplish this by using a technique called mining to unravel challenging mathematical conundrums. The blockchain, a decentralized, unchangeable database that contains all verified Bitcoin transactions, is updated once a block has been mined.

1. Several variables affect how long it takes for a Bitcoin transaction to be received:

Network Congestion: A transaction's inclusion in a block may take longer if the network is congested, which means there are numerous waiting transactions. A substantial transaction fee can hasten confirmation since miners prefer transactions with greater transaction fees.

2. Bitcoin's security architecture relies on numerous confirmations, thus the more blocks that are put on top of the block containing your transaction, the more safe it becomes. Block Confirmation: After a transaction is included in a block, it is called "confirmed." Most businesses and services require a certain number of confirmations—usually 1 to 6—before they consider a transaction to be complete.

As a result, when someone claims to have received Bitcoin in a few seconds, they are most likely referring to the time it took for the transaction to show up in their wallet or on a block explorer. It's crucial to keep in mind, though, that you must wait for confirmations to make sure the transaction is safe and cannot be undone.

It's also important to note that certain off-chain solutions, like the Lightning Network, attempt to provide off-chain payment channels in order to deliver almost instantaneous transactions with cheaper costs. While still using the security of the Bitcoin network for settlement, these methods enable quicker transactions.