You don't have to wait for a confirmation...some kind of point-of-sale check to make sure the tx has spread across the whole interweb (should be a matter of seconds right?) and that the inputs aren't included in any other pending tx's....I think you're good then.
And again, like with credit card / cheques, as long as the amount of profit gained by accepting BTC is greater than the amount of BTC scammed in double-spends the store is good right?
Also, this: https://blockchain.info/double-spends
Topic: Bitcoin transaction times - page 2. (Read 1120 times)
Hello,
I've been doing a lot of research on bitcoin and its weaknesses. I realize that bitcoin is software and that anything about it can be changed. After using it for a few months, I think the greatest annoyance is the long transaction times. For large purchases such as transferring money or purchasing a house, the transaction times are fine, but if bitcoin is to really take off in day to day life, it needs much faster transaction times. No one will want to wait around for 15 minutes for confirmations.
My question is, since bitcoin is software, will the transaction times be decreased in the future? I think they absolutely must be or else another cryptocurrency will come along and do it.
I've been doing a lot of research on bitcoin and its weaknesses. I realize that bitcoin is software and that anything about it can be changed. After using it for a few months, I think the greatest annoyance is the long transaction times. For large purchases such as transferring money or purchasing a house, the transaction times are fine, but if bitcoin is to really take off in day to day life, it needs much faster transaction times. No one will want to wait around for 15 minutes for confirmations.
My question is, since bitcoin is software, will the transaction times be decreased in the future? I think they absolutely must be or else another cryptocurrency will come along and do it.
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