One way to faster confirmations for small payments

[Nagle]

The big players can easily solve the confirmation time problem. Coinbase just needs to contract with the big mining pools for priority for getting their transactions into the next block. Then, as soon as they've submitted a transaction to the queue at each big miner, had it checked against the queue for a double spend, and received confirmation that it's in the queue, they're protected against double spending. The big mining pools that have more than half the hash rate can confirm a transaction themselves.

The public blockchain can catch up later.

[anshar]

Can you explain how to get comfirmation faster on blockchain?
 thanks before

[infested999]

Can you explain how to get comfirmation faster on blockchain?
 thanks before

If all the major mining pools work together with Coinbase, they can avoid the blockchain and confirm transactions instantly.

[solex]

Does anyone really think it is a good idea to entrench centralized mining even further into Bitcoin? Short memories or are ghash and discus-fish good-ole-boy pillars of the community now?

It would be better if the main companies, which rely on Bitcoin for their business model, were to invest in improving decentralized mining (like p2pool) and ensure that their transaction flow benefits that area instead.

[Nagle]

Does anyone really think it is a good idea to entrench centralized mining even further into Bitcoin? Short memories or are ghash and discus-fish good-ole-boy pillars of the community now?

It would be better if the main companies, which rely on Bitcoin for their business model, were to invest in improving decentralized mining (like p2pool) and ensure that their transaction flow benefits that area instead.

That's a nice dream, but the reality is that Bitcoin mining today looks like this:


Or this:


It doesn't look like this any more:

[griffga]

Does anyone really think it is a good idea to entrench centralized mining even further into Bitcoin? Short memories or are ghash and discus-fish good-ole-boy pillars of the community now?

It would be better if the main companies, which rely on Bitcoin for their business model, were to invest in improving decentralized mining (like p2pool) and ensure that their transaction flow benefits that area instead.

That's a nice dream, but the reality is that Bitcoin mining today looks like this:


Or this:


It doesn't look like this any more:

It's amazing to see how much computing power is truly dedicated to Bitcoin. Is this the largest single use of computing power in the world?

[ovais909]

Does anyone really think it is a good idea to entrench centralized mining even further into Bitcoin? Short memories or are ghash and discus-fish good-ole-boy pillars of the community now?

It would be better if the main companies, which rely on Bitcoin for their business model, were to invest in improving decentralized mining (like p2pool) and ensure that their transaction flow benefits that area instead.

That's a nice dream, but the reality is that Bitcoin mining today looks like this:
http://img.gawkerassets.com/img/197jbwgz2fy3vjpg/original.jpg

Or this:
http://www.datacenterknowledge.com/wp-content/uploads/2014/07/bitfury-coop-view1.jpg

It doesn't look like this any more:
http://www.fudzilla.com/images/stories/2013/November/asrock-bitcoin.jpg

It's amazing to see how much computing power is truly dedicated to Bitcoin. Is this the largest single use of computing power in the world?

Man this sucks!, again the rich will get richer because the can afford all this new tech,. :-(

[hua_hui]

Does anyone really think it is a good idea to entrench centralized mining even further into Bitcoin? Short memories or are ghash and discus-fish good-ole-boy pillars of the community now?

It would be better if the main companies, which rely on Bitcoin for their business model, were to invest in improving decentralized mining (like p2pool) and ensure that their transaction flow benefits that area instead.

centralized mining carries the risk of 51% attack and it is talked a thousand times. It will harm the interests of the majority of miners.