Quote from: Sonny on May 23, 2014, 04:12:54 PM

Quote from: Pobre on May 23, 2014, 01:53:22 PM

Quote from: PerrythePlatypus on May 23, 2014, 01:47:36 PM

Quote from: Pobre on May 23, 2014, 01:30:51 PM

The general confirmation time is 10minutes(if you have paid the transaction fee), nowadays sometimes the mining of the blocks slow down due to the increase in the difficulty level, so sometimes your tx may take up to 1hour to confirm. To make the confirmations fast you can add a higher tx fee like some 0.001BTC.

The increase in difficulty does not really result in slower blocks, difficulty is adjusted according to hashrate. Highly impossible that there will be a sudden significant slow In block generation due to lower sudden hash rates as ASICs are shipped at a fast rate. Transaction fee of 0.0001 is already enough. After getting one confirmation, any other block generated will result in another confirmation.

I meant that as the difficulty increases, people start getting less pay for more work and thus many people have been leaving the mining of the bitcoin that leads to the decrease in the hashrate.

Indeed, difficulty has been increasing for more than a year, and the difficulty adjustment is lagging behind (average block time is a bit lower than 10 min even after difficulty adjustment).

Exactly. Also, if it isn't a big amount, 1 Confirmation is enough.