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Author Topic: PSA: Merchants accept 0-conf Bitcoin daily, even without Lightning  (Read 28 times)
vominhtri1611
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July 08, 2018, 04:51:59 PM
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PSA: Merchants accept 0-conf Bitcoin daily, even without Lightning. The false narrative that Bitcoin doesn’t work or merchants won’t accept it is a lie. Bitcoin works in the real world, keep spending.
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Zin-Zang
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July 08, 2018, 05:28:10 PM
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List of the idiots that accept zero confirmations, so that people may double spent on them and show them how stupid that is.  Smiley

All one has to do , is send bitcoin to a zero confirmation idiot with an extremely low or no fee,
then send their entire amount to a new address with a higher transaction fee to double spend against anyone taking zero confirmations.  Tongue

https://www.quora.com/How-do-I-cancel-an-unconfirmed-transaction-on-blockchain-with-0-confirmations

ZEITCOIN is the Future! (http://www.zeit-coin.net)
Energy Efficient / Decentralized / Ultra Low Inflation  / More Cost Effective than LN
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July 08, 2018, 05:39:26 PM
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At the current moment, when the mempool is very small, it's relatively safe to accept small 0-conf transactions, but this doesn't mean that in the long run Bitcoin can scale like that - during the periods of high fees low-fee transactions can stay unconfirmed for weeks and months, and when nodes start evicting them from their mempools, it becomes easier to broadcast double-spending transactions. Lightning is absolutely needed in the long run, like it or not.

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July 08, 2018, 06:09:55 PM
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BitPay has been allowing merchants to accept zero (0) confirmation transactions for years, even during the massive spam attack we went through last year.

I top up my Namecheap account quite frequently with Bitcoin and they instantly credit the USD to my account, which is great. It however only works for amounts smaller than $50 as far as I'm aware of. Everything above $50 or a different (higher) number will require at least 1 confirmation.

The most important aspect of enjoying instant settling transactions is the fee you include. BitPay's algorithm calculates the risk of your transaction based on the fee/byte rate, and as long as that is a fair fee according to the network situation, it will let you instantly enjoy their service.

Roger & clan of fools are just spreading nonsense. Don't pay attention to these assholes.

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