As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds?
Receiver will have to decide how many confirmations he needs before the payment is considered accepted. If you buy a cup of coffee, it is possible you wouldn't require confirmations at all. When buying something more expensive you could require 20 confirmations. Or if the buyer looks like he can run fast, and there is little distance between the register and the street door.  There is no magical number of confirmations after which the risk disappears totally, but it is reduced after each one. At least that's how I've understood it. EDIT: haha this thread runs so fast that as soon as I've finished writing my reply there are already 5 answers.  So where does the 10 second transaction confirmation fit in? Surely, the headline for one confirmation should be 30 second average transaction confirmation, for low cost items. It could be 1 second but it could be 60 seconds. |
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Then you would have to wait up to 1 minute to ensure the transaction is included in a block. The first confirmation would come from there, right?
So what do people mean when they say "10 second transaction confirmations"?
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Are they planned to be ramped up to 10 secs? |
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Check it out - Remember how many of us said how fucked up it was that every other coin is going up and we were down over 60%? And how that was clearly the result of massive manipulation to dump the price? Look at what 's happening now! http://i60.tinypic.com/k9fm6r.pngIf this doesn't make you feel comfortable about buying back into Blackcoin then I don't know what will - The whale's grasp has been broken, I suspect he has decided to back away after seeing so many of his 10BTC+ low ball sell orders munched up at great expense to him (he would have made tripple the BTC proceeds had he not dumped and just trickled coins out here and there, even at this price, letting the market rise naturally). People know what this coin is capable of - they know it is incredibly undervalued for the size of the community and the quality of the projects that various members and devs have been putting together. Will it take down Litecoin? Who knows, I hope so! Will it hit $1 per coin? Id say the probability of that happening is suitably high enough to warrant putting your BTC into BC rather than any other Alt coin out there. What is this coin capable of? Can someone go over the numbers for transactions with me? As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds? Is Rat4 or the other devs around? After 10 confirmations there is absolutely no chance to reverse it, but even after one it is very very hard. You can find rat4 in the ##blackoin channel on IRC, http://webchat.freenode.net/?channels=%23blackcoin&uio=d4I have tried IRC but I feel it is better for transparency to talk on popular forums. I have noted there are services that reverse "mistaken" payments using mining pools to force the original transaction to be voided. Here is one example: http://www.bitundo.com There is an obvious risk of scammers using this or more likely a hatchet job of the code to cause havoc. Is BC immune to these kind of attacks? No but bitundo only works BEFORE the first block got accepted, i.e. before the first confirmation took place. In BTC this is about 10 minutes so you have a good chance to do it. In BC it is 10 seconds, so after 10 seconds even bitundo couldn't help you. Are blocks every 10 seconds or every minute as said earlier (maax I think)? |
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I have tried IRC but I feel it is better for transparency to talk on popular forums. I have noted there are services that reverse "mistaken" payments using mining pools to force the original transaction to be voided. Here is one example: http://www.bitundo.com There is an obvious risk of spammers using this or more likely a hatchet job of the code to cause havoc. Is BC immune to these kind of attacks? Your question is mute because you cant mine BC. As, yes. Of course. |
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Check it out - Remember how many of us said how fucked up it was that every other coin is going up and we were down over 60%? And how that was clearly the result of massive manipulation to dump the price? Look at what 's happening now! http://i60.tinypic.com/k9fm6r.pngIf this doesn't make you feel comfortable about buying back into Blackcoin then I don't know what will - The whale's grasp has been broken, I suspect he has decided to back away after seeing so many of his 10BTC+ low ball sell orders munched up at great expense to him (he would have made tripple the BTC proceeds had he not dumped and just trickled coins out here and there, even at this price, letting the market rise naturally). People know what this coin is capable of - they know it is incredibly undervalued for the size of the community and the quality of the projects that various members and devs have been putting together. Will it take down Litecoin? Who knows, I hope so! Will it hit $1 per coin? Id say the probability of that happening is suitably high enough to warrant putting your BTC into BC rather than any other Alt coin out there. What is this coin capable of? Can someone go over the numbers for transactions with me? As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds? Is Rat4 or the other devs around? After 10 confirmations there is absolutely no chance to reverse it, but even after one it is very very hard. You can find rat4 in the ##blackoin channel on IRC, http://webchat.freenode.net/?channels=%23blackcoin&uio=d4I have tried IRC but I feel it is better for transparency to talk on popular forums. I have noted there are services that reverse "mistaken" payments using mining pools to force the original transaction to be voided. Here is one example: http://www.bitundo.com There is an obvious risk of scammers using this or more likely a hatchet job of the code to cause havoc. Is BC immune to these kind of attacks? |
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Check it out - Remember how many of us said how fucked up it was that every other coin is going up and we were down over 60%? And how that was clearly the result of massive manipulation to dump the price? Look at what 's happening now! http://i60.tinypic.com/k9fm6r.pngIf this doesn't make you feel comfortable about buying back into Blackcoin then I don't know what will - The whale's grasp has been broken, I suspect he has decided to back away after seeing so many of his 10BTC+ low ball sell orders munched up at great expense to him (he would have made tripple the BTC proceeds had he not dumped and just trickled coins out here and there, even at this price, letting the market rise naturally). People know what this coin is capable of - they know it is incredibly undervalued for the size of the community and the quality of the projects that various members and devs have been putting together. Will it take down Litecoin? Who knows, I hope so! Will it hit $1 per coin? Id say the probability of that happening is suitably high enough to warrant putting your BTC into BC rather than any other Alt coin out there. What is this coin capable of? Can someone go over the numbers for transactions with me? As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds? Is Rat4 or the other devs around? |
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I see 8 people have pm'd me for details on multisig gateways with fiat bridges (anything to anything trading without the exchange). It is heartening to know it isn't just about the price in here  I have to go but anyone else intetested, pm me and I'll get back to you later. Thanks guys |
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This is 2 hours old from the Subreddit:
"We at VPSBG.eu like very much the confirmation times for the Blackcoin - we might start accepting it soon, because it will speed up our payment process. That is way better than Litecoin and our third coin payment method looks like going to be BC  At least we can try and support the community but we will wait a few days to see how it will go with popularity."
http://www.reddit.com/r/blackcoin/comments/237udz/blackcoin_is_lightening_fast_great_for_merchants/
EVERYONE needs to sign up to the subreddit. WE NEED TO SHOW OUR STRENGTH. Is it acceptable to you that this post has 0 comments right now? WE NEED TO BOMBARD EACH AND EVERY NEW BLACKCOINER AND MERCHANT WITH OUR SUPPORT. There is suddenly a lot of interest popping up there!
Let's hit, and then blow past 1,000 subs TODAY! http://www.reddit.com/r/blackcoin/
There you go. Of course! Thanks |
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I had noticed technical discussions weren't popular...
Sadly you're right. On reddit you might have more luck. In the ##blackcoin channel in IRC you can find rat4 and if you're able to encourage him to talk much (which is hard  ) then you will have an awesome discussion. Thanks for the tip. I am not big into reddit but I might drop by for look. I used something called irc about 15 years ago but not since and im not sure its the same! Someone posted the links earlier but thanks. Actually, are irc convos recorded and posted somewhere? Come over to reddit. Apparently to most the only thing that matters is how big your reddit community is. Cause every one says "Doge has a big community" I drank that Kool aid for a while but I learned about crypto currency, and saw its value which is a meme joke. Can you post a link to bc reddit? |
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I had noticed technical discussions weren't popular...
Sadly you're right. On reddit you might have more luck. In the ##blackcoin channel in IRC you can find rat4 and if you're able to encourage him to talk much (which is hard ) then you will have an awesome discussion. Thanks for the tip. I am not big into reddit but I might drop by for look. I used something called irc about 15 years ago but not since and im not sure its the same! Someone posted the links earlier but thanks. Actually, are irc convos recorded and posted somewhere? |
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I had noticed technical discussions weren't popular...
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we need BC/FIAT. so that they can cash out their coins without damaging the BC market.
we have this. why cant people just look these same things get repeated over and over. where i can't find any.. and if there is any it wasn't been popular here. They exist, they're not heavily used though, one is https://prelude.io/trade/usd/bc - I did easily part with 5000BC a few days ago as an attempt to stimulate the market. So there are buyers - but sellers are few and far between right now. Which is to be expected I guess. It'd be great if MintPal eventually took on fiat pairings but I imagine that's a horrible amount of murky legal water to get themselves into. There is a coin that is successfully testing multisig gateways and using fiat bridges with ripple to let them deal with the legal side. Full laumch is weeks away. Then you can trade anything for anything without needing an exchange. If I posted a link it would probably get deleted though Any chance you PM that link? Sounds very interesting. Done, enjoy Me too plz Done, same message as before |
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we need BC/FIAT. so that they can cash out their coins without damaging the BC market.
we have this. why cant people just look these same things get repeated over and over. where i can't find any.. and if there is any it wasn't been popular here. They exist, they're not heavily used though, one is https://prelude.io/trade/usd/bc - I did easily part with 5000BC a few days ago as an attempt to stimulate the market. So there are buyers - but sellers are few and far between right now. Which is to be expected I guess. It'd be great if MintPal eventually took on fiat pairings but I imagine that's a horrible amount of murky legal water to get themselves into. There is a coin that is successfully testing multisig gateways and using fiat bridges with ripple to let them deal with the legal side. Full laumch is weeks away. Then you can trade anything for anything without needing an exchange. If I posted a link it would probably get deleted though Any chance you PM that link? Sounds very interesting. Done, enjoy Thank you! You're welcome. It's a true innovation, never been done before. Exciting times Send me info too. Done if you like what you see, post in the forum telling them so they have worked hard a deserve the credit. |
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we need BC/FIAT. so that they can cash out their coins without damaging the BC market.
we have this. why cant people just look these same things get repeated over and over. where i can't find any.. and if there is any it wasn't been popular here. They exist, they're not heavily used though, one is https://prelude.io/trade/usd/bc - I did easily part with 5000BC a few days ago as an attempt to stimulate the market. So there are buyers - but sellers are few and far between right now. Which is to be expected I guess. It'd be great if MintPal eventually took on fiat pairings but I imagine that's a horrible amount of murky legal water to get themselves into. There is a coin that is successfully testing multisig gateways and using fiat bridges with ripple to let them deal with the legal side. Full laumch is weeks away. Then you can trade anything for anything without needing an exchange. If I posted a link it would probably get deleted though Any chance you PM that link? Sounds very interesting. Done, enjoy Thank you! You're welcome. It's a true innovation, never been done before. Exciting times |
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we need BC/FIAT. so that they can cash out their coins without damaging the BC market.
we have this. why cant people just look these same things get repeated over and over. where i can't find any.. and if there is any it wasn't been popular here. They exist, they're not heavily used though, one is https://prelude.io/trade/usd/bc - I did easily part with 5000BC a few days ago as an attempt to stimulate the market. So there are buyers - but sellers are few and far between right now. Which is to be expected I guess. It'd be great if MintPal eventually took on fiat pairings but I imagine that's a horrible amount of murky legal water to get themselves into. There is a coin that is successfully testing multisig gateways and using fiat bridges with ripple to let them deal with the legal side. Full laumch is weeks away. Then you can trade anything for anything without needing an exchange. If I posted a link it would probably get deleted though Any chance you PM that link? Sounds very interesting. Done, enjoy |
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we need BC/FIAT. so that they can cash out their coins without damaging the BC market.
we have this. why cant people just look these same things get repeated over and over. where i can't find any.. and if there is any it wasn't been popular here. They exist, they're not heavily used though, one is https://prelude.io/trade/usd/bc - I did easily part with 5000BC a few days ago as an attempt to stimulate the market. So there are buyers - but sellers are few and far between right now. Which is to be expected I guess. It'd be great if MintPal eventually took on fiat pairings but I imagine that's a horrible amount of murky legal water to get themselves into. There is a coin that is successfully testing multisig gateways and using fiat bridges with ripple to let them deal with the legal side. Full laumch is weeks away. Then you can trade anything for anything without needing an exchange. If I posted a link it would probably get deleted though |
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we need BC/FIAT. so that they can cash out their coins without damaging the BC market.
we have this. why cant people just look these same things get repeated over and over. Where is the fiat gateway and what pairs? I can't find any either |
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we need BC/FIAT. so that they can cash out their coins without damaging the BC market.
we have this. why cant people just look these same things get repeated over and over. Where is the fiat gateway and what pairs? |
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The price talk doesn't help bc. No one is interested in what bc can do to compete in a crypto 2.0 landscape. This is worrying.
Wish you guys well. I'll pop back in a month, if the smart contracts beta is released you'll do fine. If your still talking about whales then who knows.
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