Well I'm glad the funeral was postponed for this dead coin. 
Hopefully slow and steady rise this time.
Hopefully slow and steady rise this time.
I second this, I hope it's not again a rise and fall
Topic: [ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 740. (Read 2509934 times)
I second this, I hope it's not again a rise and fall
THAT WALL at 35k
As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds?
Receiver will have to decide how many confirmations he needs before the payment is considered accepted. If you buy a cup of coffee, it is possible you wouldn't require confirmations at all. When buying something more expensive you could require 20 confirmations. Or if the buyer looks like he can run fast, and there is little distance between the register and the street door.
There is no magical number of confirmations after which the risk disappears totally, but it is reduced after each one. At least that's how I've understood it.EDIT: haha this thread runs so fast that as soon as I've finished writing my reply there are already 5 answers.
So where does the 10 second transaction confirmation fit in?
Surely, the headline for one confirmation should be 30 second average transaction confirmation, for low cost items. It could be 1 second but it could be 60 seconds.
Well, whatever the time is, it's still the fastest out of all coins, right? And this will all be dealt with later. That's a way later stage.
That is not that easy unfortunately. Tweaking the coin afterwards if a messy job.
Well I'm glad the funeral was postponed for this dead coin.
Hopefully slow and steady rise this time.
Hopefully slow and steady rise this time.
It's definitely going past a minimum of 50k today. Twitter people are going nuts already spreading the word to get in
As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds?
Receiver will have to decide how many confirmations he needs before the payment is considered accepted. If you buy a cup of coffee, it is possible you wouldn't require confirmations at all. When buying something more expensive you could require 20 confirmations. Or if the buyer looks like he can run fast, and there is little distance between the register and the street door.
There is no magical number of confirmations after which the risk disappears totally, but it is reduced after each one. At least that's how I've understood it.EDIT: haha this thread runs so fast that as soon as I've finished writing my reply there are already 5 answers.
So where does the 10 second transaction confirmation fit in?
Surely, the headline for one confirmation should be 30 second average transaction confirmation, for low cost items. It could be 1 second but it could be 60 seconds.
Due to the randomness of blocktimes. It is not a ten second blocktime:
From the website:
While other coins take up to ten minutes for their first confirmations, Blackcoin regularly has a first confirmation in ten seconds flat.
This is just a statement. How does it achieve this? This would be good innovation. 10 minutes are for bitcoin forks, not all other coins.
And the randomness of blocktimes will settle to a long term average of 1 min, not 10 seconds.
As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds?
Receiver will have to decide how many confirmations he needs before the payment is considered accepted. If you buy a cup of coffee, it is possible you wouldn't require confirmations at all. When buying something more expensive you could require 20 confirmations. Or if the buyer looks like he can run fast, and there is little distance between the register and the street door.
There is no magical number of confirmations after which the risk disappears totally, but it is reduced after each one. At least that's how I've understood it.EDIT: haha this thread runs so fast that as soon as I've finished writing my reply there are already 5 answers.
So where does the 10 second transaction confirmation fit in?
Surely, the headline for one confirmation should be 30 second average transaction confirmation, for low cost items. It could be 1 second but it could be 60 seconds.
Well, whatever the time is, it's still the fastest out of all coins, right? And this will all be dealt with later. That's a way later stage.
There are other coins with 1 min blocks that have already had a proof of concept of 5 second confirmatioins, with optimisation it is thought 3 seconds is achievable.
As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds?
Receiver will have to decide how many confirmations he needs before the payment is considered accepted. If you buy a cup of coffee, it is possible you wouldn't require confirmations at all. When buying something more expensive you could require 20 confirmations. Or if the buyer looks like he can run fast, and there is little distance between the register and the street door.
There is no magical number of confirmations after which the risk disappears totally, but it is reduced after each one. At least that's how I've understood it.EDIT: haha this thread runs so fast that as soon as I've finished writing my reply there are already 5 answers.
So where does the 10 second transaction confirmation fit in?
Surely, the headline for one confirmation should be 30 second average transaction confirmation, for low cost items. It could be 1 second but it could be 60 seconds.
Due to the randomness of blocktimes. It is not a ten second blocktime:
From the website:
While other coins take up to ten minutes for their first confirmations, Blackcoin regularly has a first confirmation in ten seconds flat.
As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds?
Receiver will have to decide how many confirmations he needs before the payment is considered accepted. If you buy a cup of coffee, it is possible you wouldn't require confirmations at all. When buying something more expensive you could require 20 confirmations. Or if the buyer looks like he can run fast, and there is little distance between the register and the street door.
There is no magical number of confirmations after which the risk disappears totally, but it is reduced after each one. At least that's how I've understood it.EDIT: haha this thread runs so fast that as soon as I've finished writing my reply there are already 5 answers.
So where does the 10 second transaction confirmation fit in?
Surely, the headline for one confirmation should be 30 second average transaction confirmation, for low cost items. It could be 1 second but it could be 60 seconds.
Well, whatever the time is, it's still the fastest out of all coins, right? And this will all be dealt with later. That's a way later stage.
Lot of people trying to sell quick and buy back cheaper in a panic - be nice if a big fella could teach them a lesson!
We are on YAHOO FINANCE
http://finance.yahoo.com/news/blackcoin-rolls-fantastic-features-value-071557419.html
http://finance.yahoo.com/news/blackcoin-rolls-fantastic-features-value-071557419.html
WOOHOO!!!
THE SHOW GOES ON
Wow they are behind at Cryptsy, only 29799K lol
Mintpal kicks ass
i made that a bit BIGGER!
ALLWAYS BET ON BLACK!!
Here come the whales!!! 100BTC purchase like a kid buyin a candy bar
Lol ?
Taken from http://finance.yahoo.com/news/blackcoin-rolls-fantastic-features-value-071557419.html
"No longer do they have to contend with flimsy and annoying paper wallets or worry about installing private keys. They simply encrypt and secure the BlackCoin Card wallet against unauthorized access for peace of mind and convenience that also protects BlackCoins in the event that the card is lost or stolen."
I wondered how does the decryption to use the card at a retailer work? Do you need to carry a decryption key? If a simple password or PIN is used, how do you stop it being bruteforced if stolen?
"No longer do they have to contend with flimsy and annoying paper wallets or worry about installing private keys. They simply encrypt and secure the BlackCoin Card wallet against unauthorized access for peace of mind and convenience that also protects BlackCoins in the event that the card is lost or stolen."
I wondered how does the decryption to use the card at a retailer work? Do you need to carry a decryption key? If a simple password or PIN is used, how do you stop it being bruteforced if stolen?
Second wave of buying>>HERE WE GOOOOOO
As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds?
Receiver will have to decide how many confirmations he needs before the payment is considered accepted. If you buy a cup of coffee, it is possible you wouldn't require confirmations at all. When buying something more expensive you could require 20 confirmations. Or if the buyer looks like he can run fast, and there is little distance between the register and the street door.
There is no magical number of confirmations after which the risk disappears totally, but it is reduced after each one. At least that's how I've understood it.EDIT: haha this thread runs so fast that as soon as I've finished writing my reply there are already 5 answers.
So where does the 10 second transaction confirmation fit in?
Surely, the headline for one confirmation should be 30 second average transaction confirmation, for low cost items. It could be 1 second but it could be 60 seconds.
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