No matter how much we love BTC, confirmations take way too long!

[KesoNie]

Not an original topic, but there is a reason why it keeps coming up.
No matter how much we love BTC, confirmations take way too long!

<Insert standard response>
"Transactions are instant, and full confirmation is usually done in under 1 hour... both of which are better than credit cards."

<Reality check>
Merchants complete your sale 'almost instantly' with credit cards, and sometimes make you wait almost an hour when paying with BTC, which really does not work well in the real world....  better point of sale options are needed ASAP.

Yes it happens nowadays transaction fee getting higher and the transaction time getting longer. Hopefully it will be change and may the odds be ever in our favor.

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[DoublerHunter]

Not an original topic, but there is a reason why it keeps coming up.
No matter how much we love BTC, confirmations take way too long!

<Insert standard response>
"Transactions are instant, and full confirmation is usually done in under 1 hour... both of which are better than credit cards."

<Reality check>
Merchants complete your sale 'almost instantly' with credit cards, and sometimes make you wait almost an hour when paying with BTC, which really does not work well in the real world....  better point of sale options are needed ASAP.

Yes it happens nowadays transaction fee getting higher and the transaction time getting longer. Hopefully it will be change and may the odds be ever in our favor.

It can be changed if the number of miners will be more because as of now the network can't handle too much transaction because of the increasing growth of users so we need more miners to sustain the required needs of the network. If bitcoin will have more miners then the fees will be cheaper and we don't need to worry about expensive fees.

[AngryDwarf]

It can be changed if the number of miners will be more because as of now the network can't handle too much transaction because of the increasing growth of users so we need more miners to sustain the required needs of the network. If bitcoin will have more miners then the fees will be cheaper and we don't need to worry about expensive fees.

No, more miners means an increased hash rate which causes an increase in difficulty. Bitcoin adjusts its difficulty in response to processing power to keep the block generation time at the 10 minute average target.

[bitkilo]

It can be changed if the number of miners will be more because as of now the network can't handle too much transaction because of the increasing growth of users so we need more miners to sustain the required needs of the network. If bitcoin will have more miners then the fees will be cheaper and we don't need to worry about expensive fees.

No, more miners means an increased hash rate which causes an increase in difficulty. Bitcoin adjusts its difficulty in response to processing power to keep the block generation time at the 10 minute average target.

That is correct, more miners on the network will just increase the hash rate and therefore the difficulty but if the blocksize increased and the miners were allowed to produce and accept say 2mb blocks wouldn't the fee per tx theroletcally reduce for adding a transaction to the network?

[milewilda]

It can be changed if the number of miners will be more because as of now the network can't handle too much transaction because of the increasing growth of users so we need more miners to sustain the required needs of the network. If bitcoin will have more miners then the fees will be cheaper and we don't need to worry about expensive fees.

No, more miners means an increased hash rate which causes an increase in difficulty. Bitcoin adjusts its difficulty in response to processing power to keep the block generation time at the 10 minute average target.

This is absolutely true and theres no need for more miners since it would just make the situation even worse come to think of it when hash rate booms up then expect difficulty would do the same.I dont have any idea on what would be the solution out of this problem regarding on confirmation times on bitcoin transfers.It been already caught on our attention for us bitcoin users on this experience.If this scenario would remain then we dont have more choice but to pay up high tx fee.

[Inkdatar]

I always will understand this situation, BTC really take way tok long to confirm transactions. Even me it took 2 days tk confirm the transactions and others still experiencing this kind of problem. Hoping this will resolved immediately.

[the rise]

I always will understand this situation, BTC really take way tok long to confirm transactions. Even me it took 2 days tk confirm the transactions and others still experiencing this kind of problem. Hoping this will resolved immediately.

Will not be resolved if mempool flooded the transaction level at one time, because the use for each blocksize is only 1 mb, I myself am waiting for what step to do now, but this is a very classic problem where we continue to want the addition of community volume from all nations, but on the other side of the transactions that can flood the mempool at any time because the accumulation of transactions can't be avoided.

[RodeoX]

Compared to what? Bitcoin is the fastest payment network there is. 

[duckydonald]

Its frustrating to wait longer for confirmation when you need money on emergency basis as even after adding higher fees you need to wait for a long time to get bitcoins in your wallet but I am really ok with that as bitcoin is offering me some best benefits which is never possible with fiat.

[jovs]

It IS relevant when you have only 2 blocks created in 40 minutes (like right now) and a merchant that requires at least 3 or 4 confirmations.

The Bitcoin confirmation time is about protecting from double spends. So 1 confirmation means it's unlikely the transaction could be reversed as in you would need a hell of a lot of mining power. 6 confirmations and you're transaction is pretty solid.

So a merchant would generally only wait for confirmations for large transactions. For small transactions it is enough to detect the transaction is in the network, i.e. more or less instant.

 

Yes i agree that confirmation on bitcoin transaction is been made for security purposes which avoid unnecessary usage of bitcoin. But i rather wait on conformation in transaction than to lose on not need thing or doubling transaction. But for this kind of issue i want to build an mind set that the problem that users of bitcoin may encounter always depends on the specific country where they lived in and legal issues that the country may provide and implement.

[naughty1]

Its frustrating to wait longer for confirmation when you need money on emergency basis as even after adding higher fees you need to wait for a long time to get bitcoins in your wallet but I am really ok with that as bitcoin is offering me some best benefits which is never possible with fiat.

If you really love bitcoin, the time of confirmation is not a worrying issue, we have all the measures to resolve it. And of course, transaction fees are not a problem, we have systems that support bitcoin transaction processing, however, the amount is always limited, only 100 transactions are supported per hour. Today, I will give you a place that supports our transaction. http://Https://www.viabtc.com/tools/txaccelerator/
Remember, only the first 100 deals are processed per hour.

[mad3]

Maybe what we need is a company like Visa or MC to supply a service where we deposit bitcoin and they issue the charge as fiat there wouldn't be any conformation time because the confirms would already have happened when you made the deposit.

[jaked]

BTC should stop justify its current state by comparing itself to the worse.
It should do better than the best, not the worse!

[Sundark]

Maybe what we need is a company like Visa or MC to supply a service where we deposit bitcoin and they issue the charge as fiat there wouldn't be any conformation time because the confirms would already have happened when you made the deposit.

Well, you said it, there are companies like that they are called Visa and MasterCard, you want to use them? Go ahead pay with your fiat money, you have a choice.
But Bitcoin was designed to be p2p network not to rely on 3rd party services for everything.The only exception I can make is when we will have SegWit + LightniningNetwork activated.
I will be something like having off-chain transaction with the help of hubs communicating with each other as 1st layer of the network. This is the best viable solution I know ATM.

[daringdiscovered]

Loving the bitcoin is not enough to fasten up the transaction speed, you are not the only one who is using bitcoin, because there is a lot of transaction in the blockchain processing by the miner, and we have to wait for it, because it is going to some confirmations first before we received it or before we send it to someone. And if you do want to have faster transaction, pay higher transaction fees, so you could have the right to shout it out that it is way too long to be confirmed even though you paid high transaction fees.

[Hypnosis00]

We can't do anything about the confirmation time because it is true that it's taking a lot of time before it gets confirmation, the only thing that we can is to adjust our fees so we can experience a faster transaction but it will cost more bitcoin but it is worth it if you are in a rush.

[soul-impact]

We can't do anything about the confirmation time because it is true that it's taking a lot of time before it gets confirmation, the only thing that we can is to adjust our fees so we can experience a faster transaction but it will cost more bitcoin but it is worth it if you are in a rush.

If the cost of the transaction increases very expensive, we should use a reasonable fee, it will not significantly affect the transaction speed. In addition, we should use more supportive measures, viabtc is a concrete example.

[Heyo:P]

Compared to what? Bitcoin is the fastest payment network there is. 

I'm sorry, but just no.
There are a lot of next-to-instant payment methods like Paypal and Credit Cards, and even most altcoins are faster than BTC now.

[richardsNY]

Compared to what? Bitcoin is the fastest payment network there is. 

I'm sorry, but just no.
There are a lot of next-to-instant payment methods like Paypal and Credit Cards, and even most altcoins are faster than BTC now.

In terms of transactions moving from point A to B, PayPal and others might be the fastest as long as payments occur within the ecosystem of these services, but the main point of importance is the time they need to settle. In most cases Bitcoin transactions settle (i.e. confirm) usually within 20-30 minutes. PayPal and others have a settle time of more than 60 days in which people can charge back if they so wish -- that's quite a difference, isn't it?

[HaXX0R1337]

I always will understand this situation, BTC really take way tok long to confirm transactions. Even me it took 2 days tk confirm the transactions and others still experiencing this kind of problem. Hoping this will resolved immediately.

Do not really expect this to be resolved that easily,we need to have an upgrade in our networks to accommodate more users and with new users coming into bitcoin these things can be resolved only through an upgrade and when it is done then these issues will be gone but it is really hard to tell when these things will be solved as there are more things playing behind the scene .