Topic: No matter how much we love BTC, confirmations take way too long! - page 9. (Read 8490 times)
no,I don't think so! When comparing with wire transfer, It only takes 1 hours to get confirmed.There is no charge back for merchants which is different from credit card and many other payments methods. The merchants are happy to provide BTC payment.
Yes but part of the appeal of crypto is you don't have to use payment processor.
If going to have the money flow through a third party anyway, why deal with the volatility?
It is probably too late to change it, but my guess is it won't be bitcoin that is used for transactions where time is a factor.
Vast majority of web purchases it probably isn't an issue.
If going to have the money flow through a third party anyway, why deal with the volatility?
It is probably too late to change it, but my guess is it won't be bitcoin that is used for transactions where time is a factor.
Vast majority of web purchases it probably isn't an issue.
It IS relevant when you have only 2 blocks created in 40 minutes (like right now) and a merchant that requires at least 3 or 4 confirmations.
A payment processor will cover this. You send the money through them and all is good.
It IS relevant when you have only 2 blocks created in 40 minutes (like right now) and a merchant that requires at least 3 or 4 confirmations.
Maybe what we need is a company like Visa or MC to supply a service where we deposit bitcoin and they issue the charge as fiat there wouldn't be any conformation time because the confirms would already have happened when you made the deposit.
We don't need any company like Visa or Mastercard. We're trying to get away from those type of companies. And like the user above says we already have services like Bitpay that cover these transactions so its irrelevant.
Maybe what we need is a company like Visa or MC to supply a service where we deposit bitcoin and they issue the charge as fiat there wouldn't be any conformation time because the confirms would already have happened when you made the deposit.
Merchants complete your sale 'almost instantly' with credit cards, and sometimes make you wait almost an hour when paying with BTC, which really does not work well in the real world.... better point of sale options are needed ASAP.
And they use payment processors... which is what you can use with bitcoin. Problem solved.
Totally agreed.
I must say though, I do not think bitcoins were ever really designed for brick and mortar transactions. Not to say it cannot be used for such, because of course it can be.
Just like the credit card was never really intended to be used online.
I must say though, I do not think bitcoins were ever really designed for brick and mortar transactions. Not to say it cannot be used for such, because of course it can be.
Just like the credit card was never really intended to be used online.
Not an original topic, but there is a reason why it keeps coming up.
No matter how much we love BTC, confirmations take way too long!
"Transactions are instant, and full confirmation is usually done in under 1 hour... both of which are better than credit cards."
Merchants complete your sale 'almost instantly' with credit cards, and sometimes make you wait almost an hour when paying with BTC, which really does not work well in the real world.... better point of sale options are needed ASAP.
No matter how much we love BTC, confirmations take way too long!
"Transactions are instant, and full confirmation is usually done in under 1 hour... both of which are better than credit cards."
Merchants complete your sale 'almost instantly' with credit cards, and sometimes make you wait almost an hour when paying with BTC, which really does not work well in the real world.... better point of sale options are needed ASAP.
Jump to: