Bitcoin Forum
December 11, 2017, 11:50:30 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: 10 minute vs. 2.5 minute confirmation time  (Read 1466 times)
Daily Anarchist
Hero Member
*****
Offline Offline

Activity: 615



View Profile WWW
November 28, 2013, 02:25:40 AM
 #1

I'm sure this has been posted elsewhere, but I couldn't find it. Please feel free to link to it for me.

Considering that one of the greatest arguments for Litecoin over Bitcoin is the 2.5 minute transaction time, I'd like to better understand why 10 minutes was chosen for Bitcoin.

I've briefly read by others that 2.5 minute confirmation time is vulnerable to certain types of attack. Could somebody elaborate on this? It would be nice if there were a definitive article that I, or others, could link to every time a litecoin proponent pushes the 2.5 minute confirmation time as an advantage.

And conversely, if there is a litecoin rebuttal to that link, I'd like it too.

Discover anarcho-capitalism today!
1512993030
Hero Member
*
Offline Offline

Posts: 1512993030

View Profile Personal Message (Offline)

Ignore
1512993030
Reply with quote  #2

1512993030
Report to moderator
1512993030
Hero Member
*
Offline Offline

Posts: 1512993030

View Profile Personal Message (Offline)

Ignore
1512993030
Reply with quote  #2

1512993030
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1512993030
Hero Member
*
Offline Offline

Posts: 1512993030

View Profile Personal Message (Offline)

Ignore
1512993030
Reply with quote  #2

1512993030
Report to moderator
1512993030
Hero Member
*
Offline Offline

Posts: 1512993030

View Profile Personal Message (Offline)

Ignore
1512993030
Reply with quote  #2

1512993030
Report to moderator
Mylon
Full Member
***
Offline Offline

Activity: 140

Mining FTW


View Profile
November 28, 2013, 02:45:41 AM
 #2

The biggest argument for Litecoin is Scrypt hashing instead of SHA256 hashing.

I know Charlee Lee choose to go for the 2.5 minutes as he found 10 minutes to slow. I recall having read somewhere something on the topic of confirmation times, but don't recall where Sad

"All Your Base Are Belong To Us" by CATS
lnternet
Sr. Member
****
Offline Offline

Activity: 296


View Profile
November 28, 2013, 03:51:21 AM
 #3

Some of the crazier alt's are doing multiple blocks a minute.

On thing I can think of is that the network needs to accept each block, which takes a bit of time, as the block needs to penetrate the network. If a block generation overlaps you get a fork. Right now this forking just results in an occasional orphaned block. But if the average block separation time is too short, this forking could mess things up pretty badly, like orphaned chains instead of single blocks.

Just my take, could be off.

1ntemetqbXokPSSkuHH4iuAJRTQMP6uJ9
foggyb
Legendary
*
Offline Offline

Activity: 1344


View Profile
November 28, 2013, 03:53:39 AM
 #4

Yes, shorter confirm times = coin less secure, but I don't have the story on how this works.
Anon136
Legendary
*
Offline Offline

Activity: 1344



View Profile
November 28, 2013, 03:54:56 AM
 #5

litecoin is a marginally better crypto. with that being said the difference is not enough to justify adoption IMO. everyone should just stick with bitcoin until someone invents an innovative crypto rather than one that has only done a little tweaking.

Rep Thread: https://bitcointalk.org/index.php?topic=381041
If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
Daily Anarchist
Hero Member
*****
Offline Offline

Activity: 615



View Profile WWW
November 28, 2013, 03:59:52 AM
 #6

This might not be much of an argument, but one of the things I like about Bitcoin is that it was created by Satoshi. Satoshi seems to have had some scary insight, such as using an encryption algorithm that was obscure and NOT compromised by the NSA. There was a reason Satoshi chose SHA and 10 minute confirmations. It may seem arbitrary now, but if anything bad happens to Scrypt and 2.5 minute confirmation with Litecoin, once again Satoshi will be heralded as a luminary.

Discover anarcho-capitalism today!
Anon136
Legendary
*
Offline Offline

Activity: 1344



View Profile
November 28, 2013, 04:03:11 AM
 #7

This might not be much of an argument, but one of the things I like about Bitcoin is that it was created by Satoshi. Satoshi seems to have had some scary insight, such as using an encryption algorithm that was obscure and NOT compromised by the NSA. There was a reason Satoshi chose SHA and 10 minute confirmations. It may seem arbitrary now, but if anything bad happens to Scrypt and 2.5 minute confirmation with Litecoin, once again Satoshi will be heralded as a luminary.

sha was created by the NSA Grin

Rep Thread: https://bitcointalk.org/index.php?topic=381041
If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
Daily Anarchist
Hero Member
*****
Offline Offline

Activity: 615



View Profile WWW
November 28, 2013, 04:04:14 AM
 #8

This might not be much of an argument, but one of the things I like about Bitcoin is that it was created by Satoshi. Satoshi seems to have had some scary insight, such as using an encryption algorithm that was obscure and NOT compromised by the NSA. There was a reason Satoshi chose SHA and 10 minute confirmations. It may seem arbitrary now, but if anything bad happens to Scrypt and 2.5 minute confirmation with Litecoin, once again Satoshi will be heralded as a luminary.

sha was created by the NSA Grin

But it hasn't been proven vulnerable, either.

Edit: At least not the SHA in Bitcoin.

Discover anarcho-capitalism today!
romerun
Legendary
*
Offline Offline

Activity: 1078


Bitcoin is new, makes sense to hodl.


View Profile
November 28, 2013, 04:35:34 AM
 #9

2 benefits , getting the first confirm first and more fine grain to decide how many confirms are enough for a particular service.
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!