Opinion about coins

[MoFan]

I am not used to crypto coin and i juste want to ask you few questions.

Everybody say bitcoin is over there is too many problems : speculation...

According to you, what is the default of bitcoin ?
What is the most important things about a coin ? transfer speed ? mining ?

I heard that the transfert speed of bitcoin is very slow so we can't use it in real life to buy coffe, is it true ?

[nathan_kia]

You should try it yourself to see how fast or slow it is. I converted my bitcoins to Amazon gift card in less than a min in gyft.com
I sold something and received the money with bitcoin with multibit in a fraction of a second. To me it was fast and fascinating.

[BlockChainLottery]

I am not used to crypto coin and i juste want to ask you few questions.

Everybody say bitcoin is over there is too many problems : speculation...

According to you, what is the default of bitcoin ?
What is the most important things about a coin ? transfer speed ? mining ?

I heard that the transfert speed of bitcoin is very slow so we can't use it in real life to buy coffe, is it true ?

Yes, probably the price is a bit high due to speculation. But that would be even more true for other crypto coins. What the default is depends on what it is based. Mining costs or the buying power of BTC in circulation or a combination. I would say closer to 200 dollars than to a 1000 dollars.
Transactions aren't slow, they are forwarded on a best effort basis. The confirmations take some time. If that turns out to be a big issue, a second layer can solve this. A trusted third party can take all the risk for everyday small transactions, providing a guarantee that the transaction went well.

[guybrushthreepwood]

I am not used to crypto coin and i juste want to ask you few questions.

Everybody say bitcoin is over there is too many problems : speculation...

According to you, what is the default of bitcoin ?
What is the most important things about a coin ? transfer speed ? mining ?

I heard that the transfert speed of bitcoin is very slow so we can't use it in real life to buy coffe, is it true ?

Who are the people who say Bitcoin is over? Don't listen to newbs who slag off Bitcoin just because they're holding millions of other crapcoins that are never going to be worth anything.

And if you want to test out the speed of Bitcoin; actually use it and send some.

[best2002]

Depending on the degree of acceptance!

[Akka]

I heard that the transfert speed of bitcoin is very slow so we can't use it in real life to buy coffe, is it true ?

No, thats not true. The transacion speed of all Coins is the same. In the order of seconds.

What many are talking about are confirmations. But confirmations are a measurement of security. Simple speaking, when you have 1 confirmation in Bitcoin it means the mining power of 10 minutes says your transaction is confirmed. If you have a coin with 1 minute Blocktime 1 confirmations means the mining power of 1 minute says your transaction is confirmed

That means if you wait for 6 confirmations in a Bitcoin transaction, you should actually wait for 60 confirmations in the other coin and that only if the same amount of Hash Power would back it.

The only (very small advantage) is the 1. confirmation where it would already have the security of 1/10 of a Bitcoin confirmation.

But faster confirms also have disadvantages like more orphants which increase the cost of securing this network.

That's easy to misunderstand if you are new to crypto and altcoiners usually have no interest in clarifying this (most of the time they do not understand them self or do not want to).

[guybrushthreepwood]

I heard that the transfert speed of bitcoin is very slow so we can't use it in real life to buy coffe, is it true ?

No, thats not true. The transacion speed of all Coins is the same. In the order of seconds.

What many are talking about are confirmations. But confirmations are a measurement of security. Simple speaking, when you have 1 confirmation in Bitcoin it means the mining power of 10 minutes says your transaction is confirmed. If you have a coin with 1 minute Blocktime 1 confirmations means the mining power of 1 minute says your transaction is confirmed

That means if you wait for 6 confirmations in a Bitcoin transaction, you should actually wait for 60 confirmations in the other coin and that only if the same amount of Hash Power would back it.

The only (very small advantage is the 1. confirmation where it would already have the security of 1/10 of a Bitcoin confirmation.

But faster confirms also have disadvantages like more orphants which increase the cost of securing this network.

That's easy to misunderstand if you are new to crypto and altcoins usually have no interest in clarifying thing (most of the time they do not understand them self or do not want to).

Thanks for this explanation. Getting a bit sick of newbs believing the FUD from crapcoin bagholders and naysayers.