Silk Road forums

Discussion => Silk Road discussion => Topic started by: d29sps3mj9sl on August 18, 2012, 01:09 am

Title: Why does it take so goddamn long for money to appear in the SR accounts?
Post by: d29sps3mj9sl on August 18, 2012, 01:09 am
I didn't time it, but it seemed to take in excess of 16 hours both times.  Well the disruption in my plans cost me more than a day anyway.  Why is it so goddamn slow?  The bitcoin network does not take nearly that long to confirm payments to 6 confirmations.
Title: Re: Why does it take so goddamn long for money to appear in the SR accounts?
Post by: johnwholesome on August 18, 2012, 01:13 am
I've funded via wallets and via btc software from a liberte image before. Whenever I use btc software it shows up in the SR account around 5 to 10 minutes after the 6th confirmation is in.

Confirmations are passed around whenever a block is created, so the options are a) your wallet provider is slow or b) no blocks have been created for ages (unlikely but possible). I don't think it's on SR's side.
Title: Re: Why does it take so goddamn long for money to appear in the SR accounts?
Post by: d29sps3mj9sl on August 18, 2012, 01:31 am
It has happened twice now.  I am using the official client, not a wallet provider...  interesting to know not everyone has this problem at least.
Title: Re: Why does it take so goddamn long for money to appear in the SR accounts?
Post by: johnwholesome on August 18, 2012, 01:35 am
It has happened twice now.  I am using the official client, not a wallet provider...  interesting to know not everyone has this problem at least.

Yepp, not kidding you, it's usually in there about 10 to 15 minutes after the 6th confirmation is out. Maybe I'm just lucky...
Title: Re: Why does it take so goddamn long for money to appear in the SR accounts?
Post by: trollsquad on August 18, 2012, 02:02 am
It takes about a hour for me. I really don't think thats too bad tbh
Title: Re: Why does it take so goddamn long for money to appear in the SR accounts?
Post by: Christy Nugs on August 18, 2012, 02:55 am
what problem - 15 to 20 min - nuts on thanks for the great service SR!!!!!!
only time i have waited is when the road is down!!
Title: Re: Why does it take so goddamn long for money to appear in the SR accounts?
Post by: trollsquad on August 18, 2012, 03:18 am
Right christy! This isnt fucking amazon! People act like this site amd the admins should bend over backwards to make it perfect! 

Safety first then speed!
Title: Re: Why does it take so goddamn long for money to appear in the SR accounts?
Post by: rb10101 on August 18, 2012, 04:07 am
Takes about an hour in my experience. +1 for safety first.

If you gotta have it "right now" then you don't need it.
Title: Re: Why does it take so goddamn long for money to appear in the SR accounts?
Post by: Kundalini95 on August 21, 2012, 11:19 am
I didn't time it, but it seemed to take in excess of 16 hours both times.  Well the disruption in my plans cost me more than a day anyway.  Why is it so goddamn slow?  The bitcoin network does not take nearly that long to confirm payments to 6 confirmations.

In the options of the bitcoin client there is an option "pay transaction fee" which is by default "0", set it to 0,01 and transactions won't take longer than 30 min, exchanges like intersango and mtgox have this 0,01 fee by default 2.
Title: Re: Why does it take so goddamn long for money to appear in the SR accounts?
Post by: Wazup7 on August 22, 2012, 01:01 am
The Bitcoin P2P network can slow down considerably if one of the larger mining pools goes down.  This happened to me while I was transferring coins last year.  I expected it to be completed in 1-2 hours, and it took 5 (I never had any bad luck worse than that--16 hours really blows).

DeepBit is (I think) currently the largest processor on the BTC network.  In order for a transaction into a SR account to be completed, 6 or more hosts need to "solve" the block containing the transaction, by performing work to solve a difficult mathematical problem.  Each unit of work is called a hash, and each block takes a large number of hashes in order to be solved.  Once a block is solved, 50 or 25 BTC are awarded to the wallet that is linked to the miner.  A single user could try to solve blocks this way, but it would take a long time (each blocks problem is different, and the time it would take to solve is random). 

So pooled mining was devised.  This is when the work to solve a block is distributed across many users.  Each user gets a piece of the problem, solves it, and returns the solution to the mining host.  When that block is solved, the BTC award is distributed proportionally to all the users who contributed to the solution, based on how much work they performed for that block. 

Mining introduces BTC into the economy, and helps it move BTC between addresses.  But if a large pool experiences downtime, then the rate at which the blocks are solved goes down.  This is what happened to me last year, but I can't say thats what happened for your two long transactions...you should have better luck in the future...