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.
If the hash rate ever decrease, the difficulty would readjust itself. There are a lot of ASICs being shipped and coming online where electricity are cheaper. The hash rate will not decrease significantly, since there is only some miners going offline, those new ASICs coming online can easily take the place of those and even increase the hashrate.
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.
First of all I'm no computer wizz so maybe its something I'm doing wrong but I always read articles that say it only costs a tiny percentage to send bitcoins, today I sent $0.05 from my blockchain wallet to a different wallet I have just as a test and it cost me $0.11 in fees, WTF, and I thought banks were ripping me off.
If you got 0.001 bit coins, make coinbase your hot wallet(place small amount of bit coin) they do help you pay your transaction fees for sending 0.001 bitcoins and above.
Most of the faucets are having an upper limit for payments. Users must accumulate that many Bitcoins (say BTC0.0005 or BTC0.001), to qualify for the withdrawal. Still... the transaction fee can be heavy.
Weekly batch payments can help to solve the problem. User must accumlate 0.001 and cashout will only be done once per week. This way, the operator can pay 0.1 for 100 people and only use a transaction fee of 0.0001
no and yes. If you don't care about electric than yes, if you do care about electric, possibly yes still. More than likely no.
Even with no electricity fees, you still have to buy the hardware, buy cooling equipments and time taken to manage it. It would be highly unlikely to ROI.
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