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dannyvegasucks (OP)
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November 26, 2013, 09:24:14 PM
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I know Bitcoin confirmation time is long, but I am still very unclear on just how this works.  For instance, it seems to me that Bitcoin would be unusable at a restaurant because the transaction would have to be confirmed in 10 minutes or so.  Likewise for something like using a vending machine etc?  Is it easy to build a sort of supervening layer (or has it already been built) that would allow someone to use their BTC immediately, without having to wait for confirmations?

Thanks much for any help.  I am writing a cryptocurrency article and this is the one con I have listed for BTC.
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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WayTooGosu
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November 26, 2013, 10:02:55 PM
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Confirmation times are often inconsistent, I've had confirmations on my transactions take place ranging from 1 minute to 4 hours after my transaction was made. Unless they come up with a better system for it, then I really doubt it will be used in restaurants or vending machines.
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November 26, 2013, 10:05:27 PM
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Fine for a restaurant bill. Why do they need to wait for confirmations? They don't...
dannyvegasucks (OP)
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November 27, 2013, 06:28:04 AM
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Quote from: MAbtc on November 26, 2013, 10:05:27 PM
Fine for a restaurant bill. Why do they need to wait for confirmations? They don't...

To prevent double-spending would be my answer. Is that wrong?
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