Bitcoin's Slow Confirmation Time Might Cripple Adoption


Not everyone in Bitcoin world are excited. Some of them are frustrated about one thing: Slow Confirmation Times. And it has become apparent too that the supposedly predetermined 10-minute confirmation time is untrue or may have drastically changed as bitcoin adoption increases.

Market makers and promoters of bitcoin always end up explaining things to newbies who are very excited to be part of the community and then be disappointed for waiting for hours and even days now for their transaction to be confirmed. Not to mention, blockchain.info pruning the transaction out of their system, which eventually leads users to worry as to where their transaction has gone. For some who knows other block explorers like blockr.io or blockexplorer.com, this still poses a lot of valid questions from new users. Why don't these block explorers match if they are using one and the same blockchain?

So we have to rewrite our instructions to new users that there is a possibility for their valid bitcoin transactions to be ignored by the miners and it may take hours, days or even weeks before it is confirmed. Otherwise, it goes back to the sender's account just to have him resend it again (fingers crossed) with a higher transaction fee paid.

In most cases, these new users would just quit and call bitcoin as a shitty store of value.