Bitcoin Forum
June 17, 2018, 10:41:21 PM *
News: Latest stable version of Bitcoin Core: 0.16.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Bitcoin and instantaneousness  (Read 1108 times)
carlerha
Hero Member
*****
Offline Offline

Activity: 588
Merit: 500



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?
1529275281
Hero Member
*
Offline Offline

Posts: 1529275281

View Profile Personal Message (Offline)

Ignore
1529275281
Reply with quote  #2

1529275281
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1529275281
Hero Member
*
Offline Offline

Posts: 1529275281

View Profile Personal Message (Offline)

Ignore
1529275281
Reply with quote  #2

1529275281
Report to moderator
Prze_koles
Full Member
***
Offline Offline

Activity: 158
Merit: 100



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: 2100
Merit: 1138



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.

Adblock for annoying signature ads | Enhanced Merit UI
carlerha
Hero Member
*****
Offline Offline

Activity: 588
Merit: 500



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?
error
Hero Member
*****
Offline Offline

Activity: 588
Merit: 500



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!

3KzNGwzRZ6SimWuFAgh4TnXzHpruHMZmV8
Stephen Gornick
Legendary
*
Offline Offline

Activity: 2492
Merit: 1001


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: 1750
Merit: 1000



View Profile
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.

btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
Quantumplation
Sr. Member
****
Offline Offline

Activity: 322
Merit: 250


“Blockchain Just Entered The Real World”


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.

      ███████████████████████
     ███▄ ▄▄▄▄   ▄▄▄█▀▀  █████
    ███  █▀  ▀█▀▀▀       ▐█ ███
   ███  ▄██▄▄█▀▄▄▄        █▌ ███
  ███ ▄█▀  █     ▀█▄▄     ▐█  ▐██
 ███▄█▀    █        ▀█▄▄  ▄▄▄ ██
████▀      █           ▀██▀   ▀█ ██
 ██▀█▄     █          ▄█▀▀█▄▄▄█▀██
  ██ ▀█▄   █      ▄▄█▀▀    ▐█  ██
   ██  ▀█▄█▀▀█▄▄█▀▀        █▌ ██
    ███  █▄  ▄█▀█▄▄▄      █▌███
     ███  ▀▀▀▀     ▀▀▀█▄▄▐████
      ███████████████████████

 ▄▄       ▄▄▄        ▄▄   ▄▄▄▄▄ 
  ▀█▄   ▄█▀ ▀█▄    ▄█▀ ▄█▀▀   ▀▀█▄
    ▀█▄█▀     ▀█▄▄█▀  ▐█         █▌
    ▄█▀█▄      ▄█▀    ▐█         █▌
  ▄█▀   ▀█▄  ▄█▀       █▄       ▄█
▄█▀       ▀██▀          ▀▀█▄▄▄█▀▀


Network
BLOCKCHAIN JUST ENTERED THE REAL WORLD
  Decentralized Crypto-Location Oracle Network
GET WHITELISTED FOR TOKEN SALE ( Limited )

WHITE PAPER  ││  ANN Thread  Telegram   Medium   Twitter   Reddit
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!