BTC transfer are too damn slow!

[descarte]

every new block gets generated in 10 mins. you get 1 confirmation per block. so if you are lucky, you get 1 confirmation in less than 10 mins. this is the biggest hurdle of mass implementing bitcoin payment over the counter because you can't get instantaneous results.

once this problem is solved, you will see bitcoin implementation surge. i hope we will all live to see that day.

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[Lauda]

Compared to other ways of transferring money, Bitcoin is very fast.
Please note that a transfer and confirmation aren't the same.
A transfer is usually instant.

[kingscrown]

confirmations speed is biggest wakeness of BTC.
even LTC has it was faster

[lnternet]

I made a national bank transfer on Saturday. The money has still not arrived at the target bank account. What the actual fuck.

[crunchynut]

bought some unity3d assets this weekend. paid via paypal. took me a few seconds. then later the evening i bought two movies on itunes. paid with credit card. took me a few seconds.

tell me more about your revolutionary bitcoin technology thingie.

[DannyHamilton]

tell me more about your revolutionary bitcoin technology thingie.

Certainly.

• Neither of those payments have confirmed yet, therefore both of those payments are still reversible.
• Both of those payments involved significant transaction fees for the recipient.
• Both of those payments require you to give up identifying information to a third party to use them, which puts you at risk of identity theft.
• Both of those are payment systems that rely on an underlying currency (and therefore theoretically would work with bitcoin as well), neither is a currency itself.
• Both of those payments involved an underlying currency that has an unpredictable inflation of supply.
• Both of those payments required both you and the merchant to have a contract with the payment provider in order to participate, putting you both at the mercy of the whims of the payment provider.
• Both of those payments required you to turn over control of your money to a third party, where it can be seized, frozen, or confiscated

[crunchynut]

that is very interdasting. anything of interest in there for average joes like me or is it again only about the the zombie apocalypse and the other stuff bitcoiners use to write on the internet?

[Lauda]

confirmations speed is biggest wakeness of BTC.
even LTC has it was faster

This isn't a weakness. You're actually wrong.
The confirmation time is okay imo.

[BitCoinsLOL]

Are you kidding? A transfer takes less than a second...

I'm gonna need about 10 minutes to confirm your post.

...And give me 0.0001 BTC, too.

He said transfers not confirmations. There's a huge difference....

Seriously your one of those people who say I'm right cause this is how he said it. You and everyone else knows what OP means so get off your high horse.

[vpitcher07]

Are you kidding? A transfer takes less than a second...

I'm gonna need about 10 minutes to confirm your post.

...And give me 0.0001 BTC, too.

He said transfers not confirmations. There's a huge difference....

If you can name a place that gives you goods and services before your payment is confirmed, please let me know so I can begin scamming them for being dumb.

Credit card transactions can take days to be confirmed.....

[DannyHamilton]

There is no trolling.  It's the truth and you know it.  Confirms or not, it's the same f---ing thing.  SLOW

The problem is that when trolls complain, they don't make the effort to compare the same f---ing thing.

How long does it take for a credit card (or debit) transaction to become irreversible for the merchant?
How long does it take for a PayPal transaction to become irreversible for the merchant?
How long does it take for an ACH transfer to become irreversible for the merchant?

When compared to these common forms of electronic payment, Bitcoin is not SLOW.  Bitcoin is actually quite FAST.

Even FedWire (which is nearly instantaneous once the transaction is actually put on the wire) can take more than 24 hours from when the user contacts their bank until the merchant receives confirmation from their bank that the payment is received.

EDIT:  It appears that the troll has deleted the post that I responded to.

[Gazza1]

You're beating a dead horse.

A. My post isn't trolling in the slightest.  Now drop it.

B. BTC is slow.  Your guy's arguing is as if you were trying to convince an eskimo his ice was hot.

C. I don't even need to explain myself.  Everyone knows what I'm talking about.  

D. The goal isn't to hurt bitcoin.  It is to bring out the people who can apply the fix before things get out of hand causing then all sorts of people to come out of the woodwork.

You guys that wish to squabble feel free.  I said what needed to be said and that is it.

Cheers.

[Keyser Soze]

If a couple seconds is slow, I can't imagine what fast would be...

[Bit_Happy]

OP, congrats this is a new topic never discussed before. 

There is no trolling.  It's the truth and you know it.  Confirms or not, it's the same f---ing thing.  SLOW

The problem is that when trolls complain, they don't make the effort to compare the same f---ing thing.

How long does it take for a credit card (or debit) transaction to become irreversible for the merchant?
How long does it take for a PayPal transaction to become irreversible for the merchant?
How long does it take for an ACH transfer to become irreversible for the merchant?

When compared to these common forms of electronic payment, Bitcoin is not SLOW.  Bitcoin is actually quite FAST.

Even FedWire (which is nearly instantaneous once the transaction is actually put on the wire) can take more than 24 hours from when the user contacts their bank until the merchant receives confirmation from their bank that the payment is received.

EDIT:  It appears that the troll has deleted the post that I responded to.

Yes, from start to final confirmation BTC is REALLY fast.
The challenge is finding ways to "let the customer leave the store" without needing to wait for several confirmations.

[DannyHamilton]

You're beating a dead horse.

This I agree with.  And yet you seem to be continuously trying to revive the horse?

A. My post isn't trolling in the slightest.

On this matter we disagree.

Now drop it.

You first.

B. BTC is slow.

Define "slow"?  Define "not slow"?

Perhaps we are just using different definitions for the same words?

Your guy's arguing is as if you were trying to convince an eskimo his ice was hot.

Actually, at 273.15 K, there is a lot of heat in that ice.  With the right equipment, you could extract that heat.  Regardless, this is more like trying to convince the Eskimo that his room temperature PB&J sandwich is not "cold".

C. I don't even need to explain myself.  Everyone knows what I'm talking about.

I'm not sure about "everyone", there are probably some people in the world that will fall for your proclamations of speed deficiency, but yes most of us understand exactly what you are talking about and therefore are able to see that your proclamations are without merit.

D. The goal isn't to hurt bitcoin.  It is to bring out the people who can apply the fix before things get out of hand causing then all sorts of people to come out of the woodwork.

There is nothing to fix.  Transactions will continue to take seconds, confirmations will continue to take on average 10 minutes each.  This isn't something in bitcoin that is going to change.  What "sorts of people" are you thinking might "come out of the woodwork"?

You guys that wish to squabble feel free.

No squabbling.  Just correcting the mistakes so others can learn from the discussion.

I said what needed to be said and that is it.

Glad to hear it.  So you won't be bringing up this silly FUD anymore then, right?

[RodeoX]

Remember also that a credit card transfer seems fast, but it is only an insured promise of money. The actual transfer takes at least a day.

[DannyHamilton]

Just took a look at the OP posting history.  I hadn't realize he was just a shill for blackcoin & whitecoin.

Putting him on ignore, no need to take this any farther.

[Dogtanian]

OP, congrats this is a new topic never discussed before. 

There is no trolling.  It's the truth and you know it.  Confirms or not, it's the same f---ing thing.  SLOW

The problem is that when trolls complain, they don't make the effort to compare the same f---ing thing.

How long does it take for a credit card (or debit) transaction to become irreversible for the merchant?
How long does it take for a PayPal transaction to become irreversible for the merchant?
How long does it take for an ACH transfer to become irreversible for the merchant?

When compared to these common forms of electronic payment, Bitcoin is not SLOW.  Bitcoin is actually quite FAST.

Even FedWire (which is nearly instantaneous once the transaction is actually put on the wire) can take more than 24 hours from when the user contacts their bank until the merchant receives confirmation from their bank that the payment is received.

EDIT:  It appears that the troll has deleted the post that I responded to.

Yes, from start to final confirmation BTC is REALLY fast.
The challenge is finding ways to "let the customer leave the store" without needing to wait for several confirmations.

Payment processors, but I don't think waiting for several confirmations is needed. Don't you need to send them simultaneously to even attempt to double spend?

[bitsire]

I find it to be very hit or miss. There are times when I have a transaction approved in minutes, other times it takes over an hour (and I always include a fee). I guess it depends on traffic at the time, and of course how many confirmations the receiving part requires (though there have been plenty of times where I've waited what seemed like ages for just a single confirmation).

If the standard fee is 0.0001, does anyone know if you say double that would it greatly speed up the processing?

[Lauda]

Remember also that a credit card transfer seems fast, but it is only an insured promise of money. The actual transfer takes at least a day.

Or sometimes even a week or two.
How can one say that BTC transfers are slow then?