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Title: Is infinitecoin really that fast? Post by: kashish948 on December 07, 2013, 03:17:34 AM I have done like 8 trades in IFC in the past 24 hours and I recieved each one within seconds and they had like 10 confirms in the next 30 seconds! is it just luck or is IFC always that fast? Keep in my mind there was no fees attached! btc would take like hours without fees!
Title: Re: Is infinitecoin really that fast? Post by: Hampuz on December 07, 2013, 03:37:43 AM I have done like 8 trades in IFC in the past 24 hours and I recieved each one within seconds and they had like 10 confirms in the next 30 seconds! is it just luck or is IFC always that fast? Keep in my mind there was no fees attached! btc would take like hours without fees! Not just luck, it really is that fast! Thats why it should be worth much more. Title: Re: Is infinitecoin really that fast? Post by: MessyCoin on December 07, 2013, 03:52:30 AM When you send a bitcoin transaction it will show with 0 confirmations immediately, and then you have to wait for confirmations.
Yet some coins seem much faster to give confirmations. Fast confirmations generally mean that less hashing power is required to make the confirmation. Therefore those confirmations are not as sure as a bitcoin confirmation can be considered to be. I've seen the same debate between Litecoin and Bitcoin. Litecoin has a faster confirmation/block time. That means that litecoin confirmations are not as sure, even if the same hashing power was involved. Some exchanges have required up to 100 or so confirmations for some coins before considering the transaction as valid. So it may seem that Infinitecoin is "faster" but it's just how things work. 0 confirmations is probably OK to accept payment for a can of soda, whereas you might want to wait for more confirmations in other cases. A downside of having a fast block time (faster confirmations) is that the blockchain for that coin will grow faster. Anyway that's my understanding. ps: Infinitecoin is still cool :) |