3 Things to Know about Bitcoin Confirmations (2020 Updated)

Guerrilla Mail switched to ethereum because of Bitcoin slow confirmations and high fees! Thanks Blockstream!

Guerrilla Mail switched to ethereum because of Bitcoin slow confirmations and high fees! Thanks Blockstream! submitted by increaseblocks to btc [link] [comments]

Bitcoin Slow Confirmation Time - How Long Should I Expect?

Obviously with the turmoil in the market over the last few days I expected my transaction to take longer than usual to confirm. However after 24 hours it starts to get worrying!
Thw transfer was sent with a low fee so again, I know it will take a while to confirm, but how long should i expect to wait?
The Electrum wallet I sent it from has an 'increase fee' option. Sbould i use it? What fee would be suggested to get the transaction cleared quickly?
Thanks in advance for any help or suggestions!
submitted by boopie83 to Bitcoin [link] [comments]

Bitcoin Slow Confirmation Time - How Long Should I Expect? /r/Bitcoin

Bitcoin Slow Confirmation Time - How Long Should I Expect? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Guerrilla Mail switched to ethereum because of Bitcoin slow confirmations and high fees! Thanks Blockstream!

Guerrilla Mail switched to ethereum because of Bitcoin slow confirmations and high fees! Thanks Blockstream! submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Why are Coinbase confirmations so slow? (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

"Thanks Blockstream"

I thought this was funny. A quick search on /btc for "thanks blockstream" turned up:
plus a whole lot more!
submitted by increaseblocks to btc [link] [comments]

Emin Gün Sirer:"Scammers steal £113k from Bitcoin [BTC] ATMs by exploiting the incredibly slow confirmation times and replace by fee feature."

Emin Gün Sirer: submitted by Egon_1 to btc [link] [comments]

04-06 13:25 - 'What you are experiencing is not how Bitcoin was supposed to work. High fees and slow confirmation times are the reason why Bitcoin forks (BSV and BCH) exist. I'd suggest you switch to Bitcoin Cash or even Litecoi...' by /u/layman_hodling_bros removed from /r/Bitcoin within 124-134min

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What you are experiencing is not how Bitcoin was supposed to work. High fees and slow confirmation times are the reason why Bitcoin forks (BSV and BCH) exist. I'd suggest you switch to Bitcoin Cash or even Litecoin for smooth cryptocurrency experience...
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Author: layman_hodling_bros
submitted by removalbot to removalbot [link] [comments]

Coti - Review

COTI - CURRENCY OF THE INTERNET

Digital currency built for payments

Some of the KEY Features of COTI
Trust
Aside from featuring a currency token to facilitate transactions, COTI offers various features that enhance the payments experience. A key part of its proposition is how it has placed trust at its center. It features a trust scoring engine that evaluates users’ activities, assigning each one a trust score after every transaction.
Those who consistently engage in smooth and issue-free transactions can gain an ideal trust score. Those who don’t are scored unfavorably. The protocol then uses this trust score to determine how much fees users need to pay for using the system. Those with impeccable records pay zero fees.
In addition, COTI has mediation and arbitration mechanisms that help resolve issues among users. This is done in a decentralized manner, using a pool of peers to help decide on cases. This can provide an equitable way to settle disputes unlike with traditional payment methods that are typically decided upon by the payment company’s agent.
Biases may come into pay too. Merchants, for instance, stand to lose much to card and chargeback fraud since most card companies decide in favor of card owners. Most cryptocurrencies also do not have such dispute resolution mechanisms in place.
Speed
The problem of scalability hampers even established cryptocurrencies like Bitcoin. Slow confirmation times and its network’s limited ability to process more transactions per second make Bitcoin highly inefficient for payments.
Bitcoin only processes an average of slightly above 2 transactions per second (tps). In comparison, card network Visa easily handles 2,000 tps and can accommodate up to more than 50,000 tps at its peak.
To solve this scalability issue, COTI uses a directed acyclic graph (DAG) architecture. DAG networks are essentially designed to be able to handle more transactions the more it is being used. COTI can handle 10,000 tps.
This allows the network to provide quick confirmations. Transactions also don’t have to be routed to various intermediaries and be subject to clearing processes allowing for virtually real-time crediting of funds to the other party’s wallet.
Costs
Traditional payment methods typically involve middlemen such as the point-of-sale processor, the payment network, and the bank. The involvement of each of these intermediaries add to the time it takes for transactions to complete.
Each of them can also charge fees which leads to higher prices just to use the service. Card networks, for instance, earn from both users and merchants through currency conversion fees (especially for cross-border transactions) and processing fees.
Crypto payments are supposedly cheaper since all the processes take place on the blockchain. It takes away the need for intermediaries. However, some cryptocurrencies like Bitcoin require mining fees for transactions to be processed.
Depending on the prevailing rate, these fees could be significant. At its peak, Bitcoin fees even reached over $30 to have a transaction processed. COTI’s use of DAG eliminates the need for miners which allow for cheaper usage. It’s then left to the Trustchain protocol to determine the fees to be levied upon users.
submitted by sri2693 to cotinetwork [link] [comments]

Fixed - Bitcoin Cash moving money far better. SegWitCoin moving money with high fees and slow confirmation times!

Fixed - Bitcoin Cash moving money far better. SegWitCoin moving money with high fees and slow confirmation times! submitted by increaseblocks to btc [link] [comments]

BitPay CEO hints at possible Bitcoin Cash acceptance: "We do listen to our customers and for quite some time their number 1 complaint has been the high fees and slow confirmation times. We really don't like to pre-announce things though. Things move fast and plans can change at the last minute. "

BitPay CEO hints at possible Bitcoin Cash acceptance: submitted by cryptorebel to btc [link] [comments]

Why r/btc always blame bitcoin developer for the high fee and slow confirmation, although Segwit can solve this problem right now?

btc always blame bitcoin developer for the high fee and slow confirmation, although Segwit can solve this problem right now.
They always block Bitcoin from solving this problem.
I think they are a group of ASIC miner, that love high fee. They want to make a lot of money after they invest a ton of money in ASIC miner but securing Segwit network won't need to use ASIC anymore.
Think difference, Segwit will make Bitcoin great again so they can mine standard Bitcoin network with the high price reward and more transaction (if change to 2-4 MB block size)
submitted by Peaintania to Bitcoin [link] [comments]

Why does Bitcoin have Ridiculously High Fees and Slow Confirmations? (by Jonald Fyookball)

Why does Bitcoin have Ridiculously High Fees and Slow Confirmations? (by Jonald Fyookball) submitted by BitAlien to btc [link] [comments]

42K unconfirmed transactions in the Bitcoin legacy chain = SLOW confirmations and HIGH fees!

42K unconfirmed transactions in the Bitcoin legacy chain = SLOW confirmations and HIGH fees! submitted by increaseblocks to btc [link] [comments]

"Altcoins have been outperforming Bitcoin recently because full blocks lead to high fees & slow confirmations, creating a bad user experience."~Roger Ver

submitted by TomorrowisToday_ to btc [link] [comments]

Emin Gün Sirer:"Scammers steal £113k from Bitcoin [BTC] ATMs by exploiting the incredibly slow confirmation times and replace by fee feature."

Emin Gün Sirer: submitted by vegasbooty to Cryptoandme [link] [comments]

More proof people and companies are starting to use things other than Bitcoin due to high fees, slow confirmations, and long double spend windows.

More proof people and companies are starting to use things other than Bitcoin due to high fees, slow confirmations, and long double spend windows. submitted by MemoryDealers to btc [link] [comments]

Why is bitcoin cash confirmation time so slow?

Its more than hours since I transferred my bitcoin cash to bittrex but its still 1/6 confirmations, also on bitgrail its still on pending. How much time does it usually takes to transfer?
submitted by _iplu to Bitcoincash [link] [comments]

Why is bitcoin cash confirmation time so slow?

Its more than hours since I transferred my bitcoin cash to bittrex but its still 1/6 confirmations, also on bitgrail its still on pending. How much time does it usually takes to transfer?
PS. I've posted this on Bitcoincash but no one would like to answer, and I'm getting worried because I need to convert it fast to other alt coins
submitted by _iplu to CryptoCurrency [link] [comments]

Slow Bitcoin Cash Confirmation

It seems all miners have moved off bitcoin cash. Does anyone know anything about this?
submitted by driedapricots to btc [link] [comments]

Slow Network? No confirmations after two hours. /r/Bitcoin

Slow Network? No confirmations after two hours. /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

If you're just tuning in, here's why Bitcoin fees are high and confirmations are slow...

submitted by jonald_fyookball to btc [link] [comments]

How to Speed Up Your Bitcoin Transactions for Free! Blockchain Unconfirmed Transactions #blockchain #cryptocurrency #btc confirm your bitcoin transaction in 1 minute (blockchain wallet) Transaction confirmations on the blockchain and in your ... How to accelerate Blockchain unconfirmed transactions ...

Why does Bitcoin have Ridiculously High Fees and Slow Confirmations? Jonald Fyookball. Aug 30, 2017 · 5 min read. If you’ve tried to use Bitcoin recently, you’ve probably noticed its getting ... Why Are Bitcoin Confirmations So Slow? Bitcoin confirmations can be slow because of many reasons. Of course, one is that the minimum confirmation time itself is 10 minutes, but it usually takes longer than that, and that’s because: Either your transaction fee is too less. Or there is too much load on blockchain already. Bitcoin is a distributed, worldwide, decentralized digital money … Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts. r/Bitcoin. log in sign up. User account menu. 0. Slow confirmation times; weeks without confirmation. Close. 0. Posted by. u/billybong666. 2 years ago. Archived. Slow confirmation times; weeks without confirmation. I realize the ... Average Confirmation Time The average time for a transaction with miner fees to be included in a mined block and added to the public ledger. 30 Days 60 Days 180 Days 1 Year 3 Years All Time. Raw Values 7 Day Average 30 Day Average. Linear Scale Logarithmic Scale. You’ve thought about it, now it’s time. Create a Wallet. Sign up for the Exchange. Buy Bitcoin in minutes. Get Started. Twitter ... Bitcoin transaction confirmation is needed to prevent double-spending of the same money. One of the main advantages of bitcoin is that it avoids the problem of double-spending, i.e. the risk that a digital currency token may be copied and spent more than once.In spite of having no central authority to verify that its tokens are not being duplicated, bitcoin successfully avoids double-spending ...

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How to Speed Up Your Bitcoin Transactions for Free!

Get your blockchain pending transactions confirmed fast How To Accelerate & Confirm A Slow / Stuck Bitcoin Transaction - Duration: 23:04. Caleb Wright 26,431 views. 23:04 . How To Get Your Bitcoin Transaction Confirmed with CPFP - Duration: 7:15 ... How To Accelerate & Confirm A Slow / Stuck Bitcoin Transaction - Duration: 23:04. Caleb Wright 26,593 views. 23:04 . How To Double Spend Your Stuck Bitcoin Transaction with FSS-RBF - Duration: 8 ... Every transaction must be added to a blockchain — an official public ledger of crypto transactions, in order to be considered successfully completed or valid... A lot of people think bitcoin is slow because of the often touted '6 confirmations'. In reality for most day to day use, its instant. Just take a look to see how fast the bitcoin went from one ...

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