If you're mostly accepting small transactions, it can be reasonable to wait for only 1 confirmation, and some services that I use actually do this.
BitPay even accepts zero fee Bitcoin transactions as long as the amount is below $50 and the fee used is appropriate according to the sate of the network.
Yup, that's true about Bitpay. Confirmation is instant and I have used it also for over $100 (in euros anyway) BUT their fee estimation for what they consider appropriate is way, way above what's normal, about two times as much as is necessary for a 90% next block confirmation, as far as I can tell. Bad way to do business, they should just leave it at 1 confirmation, as then people cand decide how soon it happens. They've switched off RBF too (as soon as it detects RBF it becomes an unconfirmed tx) so you basically have no choice but to overpay, regardless of the network.
Bitpay are idiots, they make you pay 2-3x too much, but prevent you from upping their expensive fee if that's not enough. Then the next Bitpay customer comes along, and Bitpay increase the fee they pay, leaving your transaction stuck in a queue despite overpaying fees, and you cannot bump the fee
It's a perfect recipe for creating expensive tx's that get stuck unconfirmed. People might think "Bitcoin is expensive and slow", when in fact Bitpay are morons. Why would they do that?
