Bitcoin Forum
December 09, 2016, 11:30:57 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Bitcoin and instantaneousness  (Read 1016 times)
carlerha
Sr. Member
****
Offline Offline

Activity: 252


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?

1481326257
Hero Member
*
Offline Offline

Posts: 1481326257

View Profile Personal Message (Offline)

Ignore
1481326257
Reply with quote  #2

1481326257
Report to moderator
1481326257
Hero Member
*
Offline Offline

Posts: 1481326257

View Profile Personal Message (Offline)

Ignore
1481326257
Reply with quote  #2

1481326257
Report to moderator
1481326257
Hero Member
*
Offline Offline

Posts: 1481326257

View Profile Personal Message (Offline)

Ignore
1481326257
Reply with quote  #2

1481326257
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481326257
Hero Member
*
Offline Offline

Posts: 1481326257

View Profile Personal Message (Offline)

Ignore
1481326257
Reply with quote  #2

1481326257
Report to moderator
Prze_koles
Full Member
***
Offline Offline

Activity: 153



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

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

grue
Global Moderator
Legendary
*
Offline Offline

Activity: 1932



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: 252


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: 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: 2002



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: 1498



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.

Against my better judgement... 1ADjszXMSRuAUjyy3ShFRy54SyRVrNDgDc
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!