Topic: Why Didn't Satoshi Think About Instant Confirmations? (Read 2981 times)
well it would be good that a confirmation could take only 10 minutes this would be the best for all who pay and who receive soo would keep the protection .
Satoshi followed through on the crypto coin idea, that had been floating around in a white paper since the 90s. He created this proof of concept crypto currency, secure and decentralized. Don't think he was concerned with transaction speed, he wanted to prove a concept first... and he succeeded beyond his wildest dreams.
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I think... more confirmations means more secure. So why do we asking for instant confirmations if it's less secure???
Very good point.
Most of the people who are demanding "faster" confirmations don't really understand the topic.
It all boils down to how much hashing power is needed to rewrite the ledger.
A weak altcoin (or a faster block version of altcoin) isn't going to gain more security.
I have thought of that before but people do say that online wallet is quite risky.
so I don't prefer using it.
so I don't prefer using it.
then use altcoin, which are faster in confirmation, but only choose the most stable between all those alt
dash and monero are a good choice
That would require changing the fundamental code of Bitcoin and implementation via a hard fork, which is not worth it. If it ain't broke don't fix it. If you don't like 6 confirmations use blockchain.info for your wallet.
so I don't prefer using it.
Yes, faster confirmation times are very important. If you have let say 500 confirmations - complete BTC transfer times can be 15 minutes or more 
Think of confirmations as security.
If you deposited a personal check from a total stranger 1/2 way around the world how long would you wait for it to clear ??
Checks can be returned sometimes several days or even weeks later ... the longer the time that goes by the more security you have.
Credit cards can be reversed instantly so there is no security there.
Compared to traditional systems bitcoin is actually very fast.
Also the 6 confirnation rule is / was chosen as a 'safe number...
There are academic papers published that show waiting more confirmatikns than six is safer and less is more risky.
well said ! the example was good too ! If you deposited a personal check from a total stranger 1/2 way around the world how long would you wait for it to clear ??
Checks can be returned sometimes several days or even weeks later ... the longer the time that goes by the more security you have.
Credit cards can be reversed instantly so there is no security there.
Compared to traditional systems bitcoin is actually very fast.
Also the 6 confirnation rule is / was chosen as a 'safe number...
There are academic papers published that show waiting more confirmatikns than six is safer and less is more risky.
but I am wondering why it takes so much of time to have the 6 confirmations ?
couldn't it be faster than now ?
I think the transaction usually happens instantly, it just takes a while for blockchain to confirm it. Although I've experienced transactions where I've sent from 1 wallet to another and it did take 1 or 2 hours. That was my first withdraw with btc, I thought I did something wrong, LOL.
It happens same for me, it shows me unconfirmed at first, however as minutes click I got the messages shows the confirmed, usually this process takes me more or less 5 - 6 minutes. But everything is safe and secured, for those minutes I was bit scared LOL... 
Think of confirmations as security.
If you deposited a personal check from a total stranger 1/2 way around the world how long would you wait for it to clear ??
Checks can be returned sometimes several days or even weeks later ... the longer the time that goes by the more security you have.
Credit cards can be reversed instantly so there is no security there.
Compared to traditional systems bitcoin is actually very fast.
Also the 6 confirnation rule is / was chosen as a 'safe number...
There are academic papers published that show waiting more confirmatikns than six is safer and less is more risky.
If you deposited a personal check from a total stranger 1/2 way around the world how long would you wait for it to clear ??
Checks can be returned sometimes several days or even weeks later ... the longer the time that goes by the more security you have.
Credit cards can be reversed instantly so there is no security there.
Compared to traditional systems bitcoin is actually very fast.
Also the 6 confirnation rule is / was chosen as a 'safe number...
There are academic papers published that show waiting more confirmatikns than six is safer and less is more risky.
This is my pet peeve with bitcoin. If it's instant, let it be that way. Don't make me wait for more than 1 confirmation.
loppil. Did you know that the word "racecar" is a palindrome? 
Instant confirmations are bad for your breath.
Instant confirmations are bad for your breath.
I think some services use multiple confirmations to prevent double spending issue. Confirmation time depend on which block is your transaction included in and network hashrate.
How the fuck would you solve the Byzantine Generals' problem with instant confirmations? It is just not possible. To ensure a reliable consensus the blocks must be given enough time to propagate across the network multiple times.
With the advent of bigger blocks and the accompanying larger propagation delays the last think you want to be thinking about is lowering confirmation times.
With the advent of bigger blocks and the accompanying larger propagation delays the last think you want to be thinking about is lowering confirmation times.
I think the transaction usually happens instantly, it just takes a while for blockchain to confirm it. Although I've experienced transactions where I've sent from 1 wallet to another and it did take 1 or 2 hours. That was my first withdraw with btc, I thought I did something wrong, LOL.
OP is talking about instant confirmation, not instant transaction. And btw transaction is useless until confirmations are provided by the network,
because transactions can be abused, where confirmation of the transactions is guaranteed by the network and offer security.
cheers
I think... more confirmations means more secure. So why do we asking for instant confirmations if it's less secure???
Well in a future ,in around 100years mining will be dead for bitcoin ,over... soo how long should the confirmation time should became on those?
I read somewhere(cant remember now) that Crypto 2.0 has instant transactions like stellar, ripple that's why bitcoin should be updated to 2.0
stellar, ripple, next and crypto.. are not blockchain technologies.. they are crappy centralised databases.. like the fiat banking system.. try not to think that centralised databases are better, or you will be ignoring the beauty of what bitcoin is.
I think the transaction usually happens instantly, it just takes a while for blockchain to confirm it. Although I've experienced transactions where I've sent from 1 wallet to another and it did take 1 or 2 hours. That was my first withdraw with btc, I thought I did something wrong, LOL.
in some cases indeed it could happen, that the number of address used dikarenakn atupun fee amount is too small, so think about the amount of the fee before sending if the transaction want a quick confirmation by miner
I think the transaction usually happens instantly, it just takes a while for blockchain to confirm it. Although I've experienced transactions where I've sent from 1 wallet to another and it did take 1 or 2 hours. That was my first withdraw with btc, I thought I did something wrong, LOL.
Satoshi thought of many things but not everything.
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