How to make confirmation time interesting

monsterer

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Quote from: hexafraction on August 14, 2015, 04:00:09 PM

There's no technical basis for 2 confirmations coming quickly and the rest taking longer. In fact, no-conf transactions with reasonable fee and reasonable propagation should be sufficiently trustworthy for small purchases (e.g. coffee) where 1 conf takes too long.

They were until miners started accepting replace by fee transactions.

hexafraction

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Quote from: RustyNomad on August 14, 2015, 03:56:13 PM

With all that said, I would however prefer if vendors use less confirmations. Not so sure whether we still need to wait for 6 confirmations, surely 1 or 2 should be enough to confirm a transaction. Often the first 2 confirmations come through quickly with the rest taking longer to come through.

There's no technical basis for 2 confirmations coming quickly and the rest taking longer. In fact, no-conf transactions with reasonable fee and reasonable propagation should be sufficiently trustworthy for small purchases (e.g. coffee) where 1 conf takes too long.

RustyNomad

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I understand what you are saying and can see it possibly implemented in public places like with ATM's where you might have to stand and wait for confirmations to take place, so places where you cannot really do anything else while you wait for those confirmations.

It can be a great opportunity for vendors of ATM's and or similar equipment to sell advertising to companies who can advertise in those time slots while confirmations happen.

In regards to wallets... NO.... the last thing I want to see in my wallet is advertisements and or video clips while the wallet waits for confirmations. If my wallet owner ever does that I'll drop the wallet and move on to another.

With all that said, I would however prefer if vendors use less confirmations. Not so sure whether we still need to wait for 6 confirmations, surely 1 or 2 should be enough to confirm a transaction. Often the first 2 confirmations come through quickly with the rest taking longer to come through.

hexafraction

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Quote from: TzikakioS on August 14, 2015, 03:44:15 PM

Quote from: hexafraction on August 13, 2015, 05:34:38 PM

Where exactly are you proposing to include these features? Within a wallet? Who would curate the collection of information shown?

Generally if I'm waiting for a confirmation, I will go do something else, since I have a browser that supports tabs and an OS that supports multitasking.

Yes, within a wallet, POS, ATM etc

Point of sale, or ATM does sound like a nice idea, in the case that a merchant needs to wait for confirmations before completing the transaction, for high-risk stuff or high amounts. Maybe mix it with offers from the vendor?

TzikakioS

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Quote from: hexafraction on August 13, 2015, 05:34:38 PM

Where exactly are you proposing to include these features? Within a wallet? Who would curate the collection of information shown?

Generally if I'm waiting for a confirmation, I will go do something else, since I have a browser that supports tabs and an OS that supports multitasking.

Yes, within a wallet, POS, ATM etc

hexafraction

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Where exactly are you proposing to include these features? Within a wallet? Who would curate the collection of information shown?

Generally if I'm waiting for a confirmation, I will go do something else, since I have a browser that supports tabs and an OS that supports multitasking.

TzikakioS

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I was thinking of innovative ways on how to avoid the frustration of the time you have to wait for confirmations.

Like for example, educational videos about bitcoin or to participate in a faucet or any other idea.

Let's get something useful here!

Topic: How to make confirmation time interesting (Read 953 times)