Silk Road forums

Discussion => Silk Road discussion => Topic started by: HeatFireFlame on August 03, 2013, 06:49 pm

Title: Is it quicker to transfer BTC between accounts than it is to transfer them to SR
Post by: HeatFireFlame on August 03, 2013, 06:49 pm
My question is, We all know the time it can take to get BTC into your sr wallet can vary, I have been waiting for around 6 hours atm, It seems to go up and down (anyone know what its at roughly?)
But is it quicker when transferring money between sr accounts?
Title: Re: Is it quicker to transfer BTC between accounts than it is to transfer them to SR
Post by: A1pha on August 03, 2013, 08:46 pm
I dont think it makes a difference where to or from you transfer,  it is all dependant on the btc network.
Title: Re: Is it quicker to transfer BTC between accounts than it is to transfer them to SR
Post by: Endemic on August 03, 2013, 09:02 pm
It is. That's because a true BTC transfer isn't needed, in the traditional sense. The SR system simply adjusts their internal ledger to move coins from one account to another, so it doesn't need to be submitted to the BTC network. Think of bitcoins within SR as internal credits rather than bitcoins. Bitcoins in, credits within, bitcoins out.
Title: Re: Is it quicker to transfer BTC between accounts than it is to transfer them to SR
Post by: Thirty_Rox on August 03, 2013, 09:58 pm
Quote from: Endemic on August 03, 2013, 09:02 pm
It is. That's because a true BTC transfer isn't needed, in the traditional sense. The SR system simply adjusts their internal ledger to move coins from one account to another, so it doesn't need to be submitted to the BTC network. Think of bitcoins within SR as internal credits rather than bitcoins. Bitcoins in, credits within, bitcoins out.

This. It's nearly instantaneous when you transfer coins from one member to another.
Title: Re: Is it quicker to transfer BTC between accounts than it is to transfer them to SR
Post by: samesamebutdifferent on August 04, 2013, 02:00 am
Quote from: Thirty_Rox on August 03, 2013, 09:58 pm
Quote from: Endemic on August 03, 2013, 09:02 pm
It is. That's because a true BTC transfer isn't needed, in the traditional sense. The SR system simply adjusts their internal ledger to move coins from one account to another, so it doesn't need to be submitted to the BTC network. Think of bitcoins within SR as internal credits rather than bitcoins. Bitcoins in, credits within, bitcoins out.

This. It's nearly instantaneous when you transfer coins from one member to another.

Correct, between account is immediate.
Title: Re: Is it quicker to transfer BTC between accounts than it is to transfer them to SR
Post by: HeatFireFlame on August 04, 2013, 01:00 pm
Thanks all, appreciated.