Sorry but confirmation is what makes things rock solid.
In fact 2 confirmations minimum IMO.
Anyone working with 0 confirmations is prone to get ripped off.
Please stop spreading misinformation. 0 confirmations are ok for most things
Please keep your thoughts to your self.
0 confirmations IS NOT OK UNLESS your buying a pack of chewing gum and the shop owner don't mind loosing $1.
When you do REAL trades confirmations are crucial to the success of your trade.
Please go read some more.
Thank you
Why would it be ok for a dollar transaction but not larger ones? If it's a problem then it's a problem. Once the payment has been sent and the seller gets acknowledgement of that then it's as good as confirmed, but shops will use payment processors most likely. You can do a 'chargeback' or the card could be stolen and payment processors protect against this.
Personally I think that ALL transactions should have atleast 1 confirmation, but when you work in a place selling, I don't know, chewing gum, you wouldn't worry about it that much.
BUT, if you sold house appliances or video games, you would definetly wait for the confirmations.
Or, like anywhere else, you use a third party that handles that trust for you.
Right, like Coinbase and Cirlce right?
What about my private keys?
Oh wait, they don't exist with a third party service....
Most merchants use BitPay. BitPay handles transactions just like Visa handles transactions.
It also handles my privates keys - which I have no access to - right?
BitPay does not hold the private keys of the buyer. It converts bitcoins to fiat for the merchant.
) guys.
