Bitcoin Forum
December 12, 2017, 03:19:14 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: What's the fastest coin out there?  (Read 556 times)
spacegoat
Member
**
Offline Offline

Activity: 98


We are connected. you are me I am you.


View Profile
November 27, 2013, 02:19:15 AM
 #1

I am SOOO sick and tired of waiting an hour for a coin to go through man. 

it is just stupid, litecoin is pretty tolerable, but its still too slow.  when you gotta run and you are actually making transactions with people in realtime, waiting an hour for a transaction is nerve racking sometimes.  imagine waiting an hour for the cashier at bestbuy to process your credit card.  no chance, and that makes these coins silly for actual realtime use.  until they make a coin that is near instant in transaction time, they won't be adopted as real currency.

BTC is like an hour for a transaction
LTC is like 20 minutes
feathercoin i imagine is like 10 minutes(still too slow)

has anyone made any developments on speeding up the transaction time?  because that is the coin that will win.  you can't order fast food with bitcoin.  nobody in their right mind would wait an hour for a burger.  may as well grill your own in that time.  somethings gotta be done where the transaction is as instant as a webpage takes to load.

just my 2 cents

yeah baby yeah
1513048754
Hero Member
*
Offline Offline

Posts: 1513048754

View Profile Personal Message (Offline)

Ignore
1513048754
Reply with quote  #2

1513048754
Report to moderator
1513048754
Hero Member
*
Offline Offline

Posts: 1513048754

View Profile Personal Message (Offline)

Ignore
1513048754
Reply with quote  #2

1513048754
Report to moderator
1513048754
Hero Member
*
Offline Offline

Posts: 1513048754

View Profile Personal Message (Offline)

Ignore
1513048754
Reply with quote  #2

1513048754
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513048754
Hero Member
*
Offline Offline

Posts: 1513048754

View Profile Personal Message (Offline)

Ignore
1513048754
Reply with quote  #2

1513048754
Report to moderator
1513048754
Hero Member
*
Offline Offline

Posts: 1513048754

View Profile Personal Message (Offline)

Ignore
1513048754
Reply with quote  #2

1513048754
Report to moderator
spacegoat
Member
**
Offline Offline

Activity: 98


We are connected. you are me I am you.


View Profile
November 27, 2013, 02:28:52 AM
 #2

googling, and looking through, I find fastcoin, a coin designed to be fast

does anybody know about this coin?  why its good or why it sucks?  both sides of the story, I'm thinking about investing into it because it looks like it has a future once they work out the infrastructure.  its dirt cheap cuz its so new, but it seems to have a future if it does what it says it does. 

id just like to open up the discussion on this.  I don't want to invest $100 into something that is just going to plummet, but if i invest it in this and it grows like i think something like this would it seems like a solid investment to get in early, way early.

but if the coin has a fatal flaw, I'd like to know too before i buy in.  so just seeing if anybody cares about this aspect of the cryptocoin usability.

i see there are other fast coins like stable coin.  stable coin sounds ... stable.  stability is nice.

but fastcoin, I think that it has it in the name, I think it will make it out of the sea of new coins with various complexities.

we live in a fastfood world man.  fastfood sells and it sells fast.  is fastcoin where its at?  I am pretty good at making good investments and it seems like a pretty solid investment to get into fastcoin early.  pro's con's?  anybody? 

with gratitude
-spacegoat

yeah baby yeah
Yurizhai
Hero Member
*****
Offline Offline

Activity: 686



View Profile
November 27, 2013, 02:32:36 AM
 #3

I really don't think speed matters as much as you're making it out.
tacotime
Legendary
*
Offline Offline

Activity: 1484



View Profile
November 27, 2013, 02:33:37 AM
 #4

More blocks != more security, since the amount of work for each block is less...

I could make a 100 msec block coin, and we could all do double spends all day if we only made it 6 confs to spend.

Code:
XMR: 44GBHzv6ZyQdJkjqZje6KLZ3xSyN1hBSFAnLP6EAqJtCRVzMzZmeXTC2AHKDS9aEDTRKmo6a6o9r9j86pYfhCWDkKjbtcns
spacegoat
Member
**
Offline Offline

Activity: 98


We are connected. you are me I am you.


View Profile
November 27, 2013, 03:07:33 AM
 #5

I really don't think speed matters as much as you're making it out.

definitely matters.  alot.  are you gonna sit on an old pc with windows 95 or get windows 8?  faster is better, time is money

yeah baby yeah
spacegoat
Member
**
Offline Offline

Activity: 98


We are connected. you are me I am you.


View Profile
November 27, 2013, 03:09:22 AM
 #6

More blocks != more security, since the amount of work for each block is less...

I could make a 100 msec block coin, and we could all do double spends all day if we only made it 6 confs to spend.


point taken,
are you saying fastcoin has a vulnerability with double spends? 

yeah baby yeah
tacotime
Legendary
*
Offline Offline

Activity: 1484



View Profile
November 27, 2013, 03:11:36 AM
 #7

If you make it only four confs to spend, yes.  That's the same security as less than half of a Litecoin block, but actually much less because FastCoin has far fewer people mining on its network.

Code:
XMR: 44GBHzv6ZyQdJkjqZje6KLZ3xSyN1hBSFAnLP6EAqJtCRVzMzZmeXTC2AHKDS9aEDTRKmo6a6o9r9j86pYfhCWDkKjbtcns
Yurizhai
Hero Member
*****
Offline Offline

Activity: 686



View Profile
November 27, 2013, 03:12:24 AM
 #8

I really don't think speed matters as much as you're making it out.

definitely matters.  alot.  are you gonna sit on an old pc with windows 95 or get windows 8?  faster is better, time is money

No it really doesn't if you've been following cryptos a long time. To change the block times to be super fast can be done in seconds, yet only 1 or 2 coins has tried something like that for a reason.
Adano
Member
**
Offline Offline

Activity: 108


View Profile
November 27, 2013, 03:13:37 AM
 #9

EMU (eMunie)

Transaction takes few sec. It's beta now. Launch in January.

forum.emunie.com

Flatter me, and I may not believe you. Criticize me, and I may not like you.
Ignore me, and I may not forgive you. Encourage me, and I will not forget you.
r3wt
Hero Member
*****
Offline Offline

Activity: 686


always the student, never the master.


View Profile
November 27, 2013, 03:13:57 AM
 #10

I really don't think speed matters as much as you're making it out.

definitely matters.  alot.  are you gonna sit on an old pc with windows 95 or get windows 8?  faster is better, time is money

No it really doesn't if you've been following cryptos a long time. To change the block times to be super fast can be done in seconds, yet only 1 or 2 coins has tried something like that for a reason.

it leads to higher orphan rate and less security.

--experience

My negative trust rating is reflective of a personal vendetta by someone on default trust.
Littleshop
Legendary
*
Offline Offline

Activity: 1316



View Profile WWW
November 27, 2013, 03:15:45 AM
 #11

coin speed does not matter for most things.  

I will give products with ZERO confirms if a customer is waiting in person.  Never had a problem.  Litecoin is technically faster, if I was waiting for a confirm then BTC and fast enough for almost anything.  

DeathAndTaxes
Donator
Legendary
*
Offline Offline

Activity: 1218


Gerald Davis


View Profile
November 27, 2013, 03:20:52 AM
 #12

The "development" of speeding up the time between blocks is replacing a single line of code.  However what you misunderstand is that the shorter the block interval the more likely the network will remain on seperate forks for an extended period of time.  Hashing power is wasted providing no security, and users simply need to wait for more confirmations to have any reasonable level of security.

Not sure why you are waiting for 6 confirms on every tiny transaction but if you are then you should be waiting for hundreds of confirms on some worthless ultra fast block interval coin.


The only development which needs to be done is in the education department to break the "6 confirms = magical safe" myth.  Depending on the transaction value and the scenario 1 or 2 confirms may be more than sufficient and for some txs, 0-confirm is even viable.
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!