Why Didn't Satoshi Think About Instant Confirmations?

[Amph]

Some of the gambling sites I use allow for 1 confirmation to except the transaction or deposit. So for me it is not such a big issue. I will agree with you that it would become a problem if I had to pay for a cup of Java and by the time the confirmation comes through the coffee will be cold. On smaller transactions this might become a bigger problem.

sidechain can solve this issue without any problem, i don't see other solution, because the block confirmation time will never be changed in the future, so the other way is playing with another chain, unless some one can come up with something more efficient

[JarvisTechnology]

Well...   not actually "instant", but he could have though of 'faster' transactions.

When someone of his skills and imagination is on his path to create a decentralized digital currency, how is the transaction times are not given the most important thought process? I'm sure it isn't hard to imagine instant transactions in today's worls when email is the medium of daily communication which delivers messages in matter of seconds?

In this ERA where every thing has been put on just "One Click" .
Then why not BITCOIN ?

As it is peer-to-peer currency,and it will get more popular in next years where all wants to get their instant result. 

[StevenS]

you can cross check against double spends with zero confirmations by querying the mempool of a few random nodes.

That is the answer! If a merchant knows the transaction is well propagated throughout the network, then the chance of a double-spend transaction being accepted is very small.

[Scamalert]

Very few transaction need to be confirmed instantly.
I really don't see the problem by having ~10 min confirmation time.
No body is going trough all the trouble with double spend $1 for a cup of coffee.
Buying a house or car......  well, then would it be needed to wait for a couple of confirmations, not really a problem.

[ajareselde]

Well by some logic; if confirmations were to be "easier" that would be the weakest link in the chain, since confirmations are in fact solved blocks since the transaction was made,
and if you were to have instant confirmation, you would loose that security. It's impossible to do the "hard work" instantly, that is, by current bitcoin state and the way it's working.

cheers

[knowhow]

well if those really goes forward we would see bitcoin on several more places then it is currently pay a coffe a dinner a pizza like with cards would be amazing

Please read the replies before writing. This is a common misconception with Bitcoin.
Transactions are almost instant (usually 2-3 seconds at most), it is the confirmations that are taking time. For example Starbucks could easily accept transactions with zero confirmations as their risk would be only a few dollars usually.

It is a precautious meature! Satoshi probably haven't thought the 51% attack issues, which haven't been completely resolved yet! It just relies on the big mining farms' self discipline.

Wrong. He actually mentioned it in the original paper. Maybe the term 51% attack was used later.

The incentive may help encourage nodes to stay honest. If a greedy attacker is able to assemble more CPU power than all the honest nodes, he would have to choose between using it to defraud people by stealing back his payments, or using it to generate new coins. He ought to find it more profitable to play by the rules, such rules that favour him with more new coins than everyone else combined, than to undermine the system and the validity of his own wealth

Section 6: Incentive, last paragraph.
He actually even talked about it in 2008.

i didnt express corrected what i wanna say were the confirmations become instant anyway with fiat you eat drink and pay and done with bitcoin is a delay,soo maybe a reduce on the time of 1 confirmation or two would be enought

[bitllionaire]

How could you work with a DECENTRALIZED blockchain wihtout spreading all the transactions over the nodes and making confirmations to be sure they have been properly spread

[jonald_fyookball]

How could you work with a DECENTRALIZED blockchain wihtout spreading all the transactions over the nodes and making confirmations to be sure they have been properly spread

that's not what a confirmation is.  a confirmation means it's been included in a block.  blocks take time to solve.

[Bitcoinmeetups.org]

Satoshi thought of many things but not everything.

Posted From bitcointalk.org Android App

[Clint]

I think the transaction usually happens instantly, it just takes a while for blockchain to confirm it. Although I've experienced transactions where I've sent from 1 wallet to another and it did take 1 or 2 hours. That was my first withdraw with btc, I thought I did something wrong, LOL. 

[oxiyusuf]

I think the transaction usually happens instantly, it just takes a while for blockchain to confirm it. Although I've experienced transactions where I've sent from 1 wallet to another and it did take 1 or 2 hours. That was my first withdraw with btc, I thought I did something wrong, LOL. 

in some cases indeed it could happen, that the number of address used dikarenakn atupun fee amount is too small, so think about the amount of the fee before sending if the transaction want a quick confirmation by miner

[franky1]

I read somewhere(cant remember now) that Crypto 2.0 has instant transactions like stellar, ripple that's why bitcoin should be updated to 2.0

stellar, ripple, next and crypto.. are not blockchain technologies.. they are crappy centralised databases.. like the fiat banking system.. try not to think that centralised databases are better, or you will be ignoring the beauty of what bitcoin is.

[knowhow]

Well in a future ,in around 100years mining will be dead for bitcoin ,over... soo how long should the confirmation time should became on those?

[Jeremycoin]

I think... more confirmations means more secure. So why do we asking for instant confirmations if it's less secure???

[ajareselde]

I think the transaction usually happens instantly, it just takes a while for blockchain to confirm it. Although I've experienced transactions where I've sent from 1 wallet to another and it did take 1 or 2 hours. That was my first withdraw with btc, I thought I did something wrong, LOL. 

OP is talking about instant confirmation, not instant transaction. And btw transaction is useless until confirmations are provided by the network,
because transactions can be abused, where confirmation of the transactions is guaranteed by the network and offer security.

cheers

[Soros Shorts]

How the fuck would you solve the Byzantine Generals' problem with instant confirmations? It is just not possible. To ensure a reliable consensus the blocks must be given enough time to propagate across the network multiple times.

With the advent of bigger blocks and the accompanying larger propagation delays the last think you want to be thinking about is lowering confirmation times.

[afriezalie]

I think some services use multiple confirmations to prevent double spending issue. Confirmation time depend on which block is your transaction included in and network hashrate.

[satnof]

loppil. Did you know that the word "racecar" is a palindrome?  

Instant confirmations are bad for your breath.

[ragi]

This is my pet peeve with bitcoin. If it's instant, let it be that way. Don't make me wait for more than 1 confirmation.

[photon_coin]

Think of confirmations as security.

If you deposited a personal check from a total stranger 1/2 way around the world how long would you wait for it to clear ??

Checks can be returned sometimes several days or even weeks later ... the longer the time that goes by the more security you have.

Credit cards can be reversed instantly so there is no security there.


Compared to traditional systems bitcoin is actually very fast.

Also the 6 confirnation rule is / was chosen as a 'safe number...

There are academic papers published that show waiting more confirmatikns than six is safer and less is more risky.