Bitcoin Forum

I am SOOO sick and tired of waiting an hour for a coin to go through man. 

it is just stupid, litecoin is pretty tolerable, but its still too slow.  when you gotta run and you are actually making transactions with people in realtime, waiting an hour for a transaction is nerve racking sometimes.  imagine waiting an hour for the cashier at bestbuy to process your credit card.  no chance, and that makes these coins silly for actual realtime use.  until they make a coin that is near instant in transaction time, they won't be adopted as real currency.

BTC is like an hour for a transaction
LTC is like 20 minutes
feathercoin i imagine is like 10 minutes(still too slow)

has anyone made any developments on speeding up the transaction time?  because that is the coin that will win.  you can't order fast food with bitcoin.  nobody in their right mind would wait an hour for a burger.  may as well grill your own in that time.  somethings gotta be done where the transaction is as instant as a webpage takes to load.

just my 2 cents

googling, and looking through, I find fastcoin, a coin designed to be fast

does anybody know about this coin?  why its good or why it sucks?  both sides of the story, I'm thinking about investing into it because it looks like it has a future once they work out the infrastructure.  its dirt cheap cuz its so new, but it seems to have a future if it does what it says it does. 

id just like to open up the discussion on this.  I don't want to invest $100 into something that is just going to plummet, but if i invest it in this and it grows like i think something like this would it seems like a solid investment to get in early, way early.

but if the coin has a fatal flaw, I'd like to know too before i buy in.  so just seeing if anybody cares about this aspect of the cryptocoin usability.

i see there are other fast coins like stable coin.  stable coin sounds ... stable.  stability is nice.

but fastcoin, I think that it has it in the name, I think it will make it out of the sea of new coins with various complexities.

we live in a fastfood world man.  fastfood sells and it sells fast.  is fastcoin where its at?  I am pretty good at making good investments and it seems like a pretty solid investment to get into fastcoin early.  pro's con's?  anybody? 

with gratitude
-spacegoat

I really don't think speed matters as much as you're making it out.

More blocks != more security, since the amount of work for each block is less...

I could make a 100 msec block coin, and we could all do double spends all day if we only made it 6 confs to spend.

definitely matters.  alot.  are you gonna sit on an old pc with windows 95 or get windows 8?  faster is better, time is money

point taken,
are you saying fastcoin has a vulnerability with double spends? 

If you make it only four confs to spend, yes.  That's the same security as less than half of a Litecoin block, but actually much less because FastCoin has far fewer people mining on its network.

No it really doesn't if you've been following cryptos a long time. To change the block times to be super fast can be done in seconds, yet only 1 or 2 coins has tried something like that for a reason.

EMU (eMunie)

Transaction takes few sec. It's beta now. Launch in January.

forum.emunie.com (http://forum.emunie.com)

it leads to higher orphan rate and less security.

--experience

coin speed does not matter for most things.  

I will give products with ZERO confirms if a customer is waiting in person.  Never had a problem.  Litecoin is technically faster, if I was waiting for a confirm then BTC and fast enough for almost anything.  

The "development" of speeding up the time between blocks is replacing a single line of code.  However what you misunderstand is that the shorter the block interval the more likely the network will remain on seperate forks for an extended period of time.  Hashing power is wasted providing no security, and users simply need to wait for more confirmations to have any reasonable level of security.

Not sure why you are waiting for 6 confirms on every tiny transaction but if you are then you should be waiting for hundreds of confirms on some worthless ultra fast block interval coin.


The only development which needs to be done is in the education department to break the "6 confirms = magical safe" myth.  Depending on the transaction value and the scenario 1 or 2 confirms may be more than sufficient and for some txs, 0-confirm is even viable.