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[Josemendez]

Among various challenges faced by bitcoin , slow transaction time is the most annoying one .
I once requested for a payout using bitcoin , and it took almost 24 hours for the transaction to complete .
Is there no way a software can used to improve the rate of bitcoin transaction ?

 

[Reznov]

i don't think it will bring nothing except facilitating the usage, transactions will not be affected at all, since they are both are related to the same measures that both the app and websites are using

 

[Cryptonaut]

I guess there is no way to shorten transaction time, except for using higher fee. Transaction time depends on network congestion and/or on the fee you are willing to pay. But don't need to be annoyed as the Lightning network will be available on near future, so the blockchain issues should be solved much faster.

 

[crypworld]

To my knowledge NO. Some companies were using the Bitcoin Lightening Network in 2019, where the transactions were swift. But now days, we don't hear much of this because researchers fear Bitcoin's Lightning network can be susceptible to cyber attacks.

 

[Josemendez]

To my knowledge NO. Some companies were using the Bitcoin Lightening Network in 2019, where the transactions were swift. But now days, we don't hear much of this because researchers fear Bitcoin's Lightning network can be susceptible to cyber attacks.

So these means we have to strict with these low transaction time for bitcoin transaction for sometime .
On a second a thought , since congestion is part of the reason why there is high delay , are there time when one can have a faster transaction , say in the night when there is less bitcoin transaction.

 

[SCAMEXPOSER]

If you want your bitcoin transaction to be very fact then the best is too pay for high fee that priority option which will speed up the transaction otherwise I don't any software of us such as been found.

 

[crypworld]

So these means we have to strict with these low transaction time for bitcoin transaction for sometime .
On a second a thought , since congestion is part of the reason why there is high delay , are there time when one can have a faster transaction , say in the night when there is less bitcoin transaction.

There is nothing like that. But from my experience, I have noticed whenever I try to withdraw after a holiday, the transactions are very slow. Even if you pay a high transaction fee too it doesn't make much difference.

 

[Reznov]

There is nothing like that. But from my experience, I have noticed whenever I try to withdraw after a holiday, the transactions are very slow. Even if you pay a high transaction fee too it doesn't make much difference.

making them automatic and improving the the algorithms that verifies the payment would solve this issue, just like in payeer

 

[crypworld]

making them automatic and improving the the algorithms that verifies the payment would solve this issue, just like in payeer

That's something I appreciate about Payeer. Payments are instant.

 

[Balint098]

Lightning network already do that, though not all places using that accelerated system. Do the place you want to withdraw from is Freebitco.in?

 

[Wisdom01]

I once had the same problem , I sent bitcoin to a wallet adress and it reflected in almost 72 hrs , but if they create a software and if it has a bug won't that affect

 

[Josemendez]

If you want your bitcoin transaction to be very fact then the best is too pay for high fee that priority option which will speed up the transaction otherwise I don't any software of us such as been found.

The transaction fee is not negotiable, the wallet brings out the transaction fee . The only time the transaction fee is high is when bitcoin price is high .
Do you mean that , ones should be able to withdraw faster the bitcoin price is high , because that's the most time when transaction fee is high .

 

[SCAMEXPOSER]

The transaction fee is not negotiable, the wallet brings out the transaction fee . The only time the transaction fee is high is when bitcoin price is high .
Do you mean that , ones should be able to withdraw faster the bitcoin price is high , because that's the most time when transaction fee is high .

For instance if you check blockchain wallet, if you want send bitcoin to someone the fee has three options regular, custom and priority each with different delivery time.

 

[Wisdom01]

For instance if you check blockchain wallet, if you want send bitcoin to someone the fee has three options regular, custom and priority each with different delivery time.

I have also seen that in many other wallet like trust wallet , blockchain,etc .yeah it fee varies based on the amount of time you want the bitcoin in your wallet

 

[SCAMEXPOSER]

I have also seen that in many other wallet like trust wallet , blockchain,etc .yeah it fee varies based on the amount of time you want the bitcoin in your wallet

If you opt for either priority or customer you recieve the coin as fast as possible, I guess this is peculiar to almost all types of wallet since you mentioned trust wallet also.

 

[Josemendez]

Lightning network already do that, though not all places using that accelerated system. Do the place you want to withdraw from is Freebitco.in?

I already have withdrawn the find , the problem was that it took a very long time before the transaction was completed , nearly up to 24 hours .
It was from a bitcoin address .

 

[SCAMEXPOSER]

I already have withdrawn the find , the problem was that it took a very long time before the transaction was completed , nearly up to 24 hours .
It was from a bitcoin address .

How come the problem was from the bitcoin address you used are there addresses that delay transactions now?.

 

[Wisdom01]

I already have withdrawn the find , the problem was that it took a very long time before the transaction was completed , nearly up to 24 hours .
It was from a bitcoin address .

Maybe its the wallet you are using , because most wallet do process it manually and some gives specific date to send the bitcoin ,while some takes even 2 days to process your request

 

[Josemendez]

That was not what I mean , he asked whether I was withdrawing from a freebitc.in , so I was telling him that it is from a bitcoin address .
I don't think bitcoin address has any impact on the rate of the transaction

 

[Balint098]

There's only one bitcoin network btw. It's not depending on any software anyway. The transaction speed is depend on miners volume and several other factors.