Bitcoin Forum
March 23, 2017, 04:26:22 PM *
News: Latest stable version of Bitcoin Core: 0.14.0  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Bitcoin and instantaneousness  (Read 1037 times)
carlerha
Sr. Member
****
Offline Offline

Activity: 378



View Profile
June 04, 2011, 08:40:48 PM
 #1

Since blocks are found on average every 10 minutes, how can bitcoins be used to pay for in-store items and services when there's no time to lean back while waiting for a confirmation? Imagine sitting in the drive-thru line etc.

Off the top of my head:
- bit bills
- some trusted third party company (uhm, i.e. bank) issuing btc debit cards which can guarantee that the customer holds the purchase amount

Other suggestions, or maybe I have overlooked something fundamental?

30+ currencies, bank wires, credit cards supported
Bitcoin Exchange
Bitcoin Debit Card
Bitcoin Wallet
Bitcoin Payment Processor
Amazon Vouchers
Mobile top-ups
24/7 Support
Available worldwide
1490286382
Hero Member
*
Offline Offline

Posts: 1490286382

View Profile Personal Message (Offline)

Ignore
1490286382
Reply with quote  #2

1490286382
Report to moderator
1490286382
Hero Member
*
Offline Offline

Posts: 1490286382

View Profile Personal Message (Offline)

Ignore
1490286382
Reply with quote  #2

1490286382
Report to moderator
1490286382
Hero Member
*
Offline Offline

Posts: 1490286382

View Profile Personal Message (Offline)

Ignore
1490286382
Reply with quote  #2

1490286382
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Prze_koles
Full Member
***
Offline Offline

Activity: 158



View Profile
June 04, 2011, 08:42:13 PM
 #2

Or something like https://www.mybitcoin.com/

1FzTJh1C58m1gqnNzxLTt2ryNYkuk1YdfN
grue
Global Moderator
Legendary
*
Offline Offline

Activity: 1946



View Profile
June 04, 2011, 08:43:19 PM
 #3

you don't have to wait for confirmations.

It is pitch black. You are likely to be eaten by a grue.

Tired of annoying signature ads? Ad block for signatures
carlerha
Sr. Member
****
Offline Offline

Activity: 378



View Profile
June 04, 2011, 08:50:50 PM
 #4

then why can I not spend coins that have 0 confirmations in the official client?

30+ currencies, bank wires, credit cards supported
Bitcoin Exchange
Bitcoin Debit Card
Bitcoin Wallet
Bitcoin Payment Processor
Amazon Vouchers
Mobile top-ups
24/7 Support
Available worldwide
error
Hero Member
*****
Offline Offline

Activity: 574



View Profile
June 04, 2011, 09:50:49 PM
 #5

The retail seller doesn't wait for confirmations after you swipe your credit card. That takes 3 days!

15UFyv6kfWgq83Pp3yhXPr8rknv9m6581W
Stephen Gornick
Legendary
*
Offline Offline

Activity: 2086



View Profile
June 05, 2011, 03:31:29 AM
 #6

Since blocks are found on average every 10 minutes, how can bitcoins be used to pay for in-store items and services when there's no time to lean back while waiting for a confirmation?

  There is some information here: http://en.bitcoin.it/wiki/In-store_Transactions
kokojie
Legendary
*
Offline Offline

Activity: 1540



View Profile WWW
June 05, 2011, 03:37:57 AM
 #7

The retail seller doesn't wait for confirmations after you swipe your credit card. That takes 3 days!

The retailer gets a confirmed authorization immediately.

If my post has been helpful, send me some love -> BTC: 1kokojUapmWqCqPw3Ch2rjcVh57tJEzka | PPC: PDyXAgA8eH47gokVW6zVZPSuu15aao5nZF | Bitshares: kokojie
My reputation
Quantumplation
Member
**
Offline Offline

Activity: 84


View Profile
June 05, 2011, 03:39:26 AM
 #8

The retail seller doesn't wait for confirmations after you swipe your credit card. That takes 3 days!

The retailer gets a confirmed authorization immediately.

That doesn't guarentee they'll get the money though, that guarentees you're approved and under your credit limit.  You can dispute the transaction, and for relatively small amounts the credit company will just give it to you, and the store can't really do anything because taking you to court would be too expensive.  Do it too frequently, though, and your credit card company will start bringing you up on fraud charges.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!