|
Title: 0-confirmation transactions for small purchases Post by: DiThi on January 21, 2012, 07:28:54 PM I'm opening this thread to continue a discussion started in this other thread (https://bitcointalk.org/index.php?topic=58847.msg705278#msg705278).
I think 0-confirmation transactions are safe for small purchases if the merchant have a transaction radar connected with hundreds of nodes across the globe and waits for e.g. 80% propagation with no other conflicting tx. I've done purchases of 1-2 euros with credit card, and just the fees are far more expensive than the possible double spends undetected by a tx radar. What do you think? Has anyone tested this thoroughly? Title: Re: 0-confirmation transactions for small purchases Post by: Maged on January 22, 2012, 02:10:22 AM What do you think? Has anyone tested this thoroughly? Not in reality. However, it can only ever be a problem if ALL of the following are true:1) Purchaser is anonymous. (real life isn't anonymous, since it can be recorded with a video camera) 2) Item is irrevocable/irretrievable. (you could buy a video game license instantly, without risk to the publisher, because it is revocable) 3) Transaction is instant. As you can see, there are many cases where instant transactions have little/no risk. If all of the above are true in a specific case, however, you better make one of the statements false if you don't want to get burned. |