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troiste
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April 17, 2014, 11:54:34 AM |
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CatKiwi
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April 17, 2014, 11:55:03 AM |
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Lot of people trying to sell quick and buy back cheaper in a panic - be nice if a big fella could teach them a lesson!
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Echant012
Newbie
 Offline
Activity: 3
Merit: 0
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April 17, 2014, 11:55:19 AM |
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As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds?
Receiver will have to decide how many confirmations he needs before the payment is considered accepted. If you buy a cup of coffee, it is possible you wouldn't require confirmations at all. When buying something more expensive you could require 20 confirmations. Or if the buyer looks like he can run fast, and there is little distance between the register and the street door.  There is no magical number of confirmations after which the risk disappears totally, but it is reduced after each one. At least that's how I've understood it. EDIT: haha this thread runs so fast that as soon as I've finished writing my reply there are already 5 answers.  So where does the 10 second transaction confirmation fit in? Surely, the headline for one confirmation should be 30 second average transaction confirmation, for low cost items. It could be 1 second but it could be 60 seconds. Well, whatever the time is, it's still the fastest out of all coins, right? And this will all be dealt with later. That's a way later stage. |
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Soepkip
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April 17, 2014, 11:56:46 AM |
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As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds?
Receiver will have to decide how many confirmations he needs before the payment is considered accepted. If you buy a cup of coffee, it is possible you wouldn't require confirmations at all. When buying something more expensive you could require 20 confirmations. Or if the buyer looks like he can run fast, and there is little distance between the register and the street door. There is no magical number of confirmations after which the risk disappears totally, but it is reduced after each one. At least that's how I've understood it. EDIT: haha this thread runs so fast that as soon as I've finished writing my reply there are already 5 answers. So where does the 10 second transaction confirmation fit in? Surely, the headline for one confirmation should be 30 second average transaction confirmation, for low cost items. It could be 1 second but it could be 60 seconds. Due to the randomness of blocktimes. It is not a ten second blocktime: From the website: While other coins take up to ten minutes for their first confirmations, Blackcoin regularly has a first confirmation in ten seconds flat. |
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Daedelus
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April 17, 2014, 11:59:03 AM |
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As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds?
Receiver will have to decide how many confirmations he needs before the payment is considered accepted. If you buy a cup of coffee, it is possible you wouldn't require confirmations at all. When buying something more expensive you could require 20 confirmations. Or if the buyer looks like he can run fast, and there is little distance between the register and the street door. There is no magical number of confirmations after which the risk disappears totally, but it is reduced after each one. At least that's how I've understood it. EDIT: haha this thread runs so fast that as soon as I've finished writing my reply there are already 5 answers. So where does the 10 second transaction confirmation fit in? Surely, the headline for one confirmation should be 30 second average transaction confirmation, for low cost items. It could be 1 second but it could be 60 seconds. Well, whatever the time is, it's still the fastest out of all coins, right? And this will all be dealt with later. That's a way later stage. There are other coins with 1 min blocks that have already had a proof of concept of 5 second confirmatioins, with optimisation it is thought 3 seconds is achievable. |
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Daedelus
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April 17, 2014, 11:59:43 AM |
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As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds?
Receiver will have to decide how many confirmations he needs before the payment is considered accepted. If you buy a cup of coffee, it is possible you wouldn't require confirmations at all. When buying something more expensive you could require 20 confirmations. Or if the buyer looks like he can run fast, and there is little distance between the register and the street door. There is no magical number of confirmations after which the risk disappears totally, but it is reduced after each one. At least that's how I've understood it. EDIT: haha this thread runs so fast that as soon as I've finished writing my reply there are already 5 answers. So where does the 10 second transaction confirmation fit in? Surely, the headline for one confirmation should be 30 second average transaction confirmation, for low cost items. It could be 1 second but it could be 60 seconds. Due to the randomness of blocktimes. It is not a ten second blocktime: From the website: While other coins take up to ten minutes for their first confirmations, Blackcoin regularly has a first confirmation in ten seconds flat.This is just a statement. How does it achieve this? This would be good innovation. 10 minutes are for bitcoin forks, not all other coins. And the randomness of blocktimes will settle to a long term average of 1 min, not 10 seconds. |
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Kebooz
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April 17, 2014, 12:00:29 PM |
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Gazza1
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April 17, 2014, 12:00:53 PM |
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It's definitely going past a minimum of 50k today. Twitter people are going nuts already spreading the word to get in
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Impossible is a word found only in the dictionary of fools.
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notallthere
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April 17, 2014, 12:01:29 PM |
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Well I'm glad the funeral was postponed for this dead coin. Hopefully slow and steady rise this time. |
EXPRESSCOIN- Lose 20% of your value before even getting coins?!?!Sounds great!
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niothor
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April 17, 2014, 12:02:03 PM |
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As I understand it, BC has 10 second confirmations and you wait for 10 confirmations to be sure it can't be reversed. This is correct? So a payment at a retailer will be confirmed without risk to the retailer in 1min 40 seconds?
Receiver will have to decide how many confirmations he needs before the payment is considered accepted. If you buy a cup of coffee, it is possible you wouldn't require confirmations at all. When buying something more expensive you could require 20 confirmations. Or if the buyer looks like he can run fast, and there is little distance between the register and the street door. There is no magical number of confirmations after which the risk disappears totally, but it is reduced after each one. At least that's how I've understood it. EDIT: haha this thread runs so fast that as soon as I've finished writing my reply there are already 5 answers. So where does the 10 second transaction confirmation fit in? Surely, the headline for one confirmation should be 30 second average transaction confirmation, for low cost items. It could be 1 second but it could be 60 seconds. Well, whatever the time is, it's still the fastest out of all coins, right? And this will all be dealt with later. That's a way later stage.That is not that easy unfortunately. Tweaking the coin afterwards if a messy job. |
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Jilixi
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April 17, 2014, 12:02:22 PM |
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THAT WALL at 35k
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Owner of BlackCoin Store - BlackCoin StoreBC: BNatbck1SDJebHRMQemkUEFPVZR9uLHLrM BTC: 161EcdmbgmxpZMk2ssZCjGQqB6gypduu97 |
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jamieb81
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April 17, 2014, 12:02:40 PM |
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Well I'm glad the funeral was postponed for this dead coin. Hopefully slow and steady rise this time. I second this, I hope it's not again a rise and fall |
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Daedelus
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April 17, 2014, 12:02:49 PM |
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I see 8 people have pm'd me for details on multisig gateways with fiat bridges (anything to anything trading without the exchange). It is heartening to know it isn't just about the price in here  I have to go but anyone else intetested, pm me and I'll get back to you later. Thanks guys I too would be interested in taking a look. Can you PM me? Done |
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jamieb81
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April 17, 2014, 12:03:25 PM |
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I see 8 people have pm'd me for details on multisig gateways with fiat bridges (anything to anything trading without the exchange). It is heartening to know it isn't just about the price in here I have to go but anyone else intetested, pm me and I'll get back to you later. Thanks guys I too would be interested in taking a look. Can you PM me? Done Pm'd you yesterday but haven't got your PM yet  |
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Daedelus
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April 17, 2014, 12:04:13 PM |
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we need BC/FIAT. so that they can cash out their coins without damaging the BC market.
we have this. why cant people just look these same things get repeated over and over. where i can't find any.. and if there is any it wasn't been popular here. They exist, they're not heavily used though, one is https://prelude.io/trade/usd/bc - I did easily part with 5000BC a few days ago as an attempt to stimulate the market. So there are buyers - but sellers are few and far between right now. Which is to be expected I guess. It'd be great if MintPal eventually took on fiat pairings but I imagine that's a horrible amount of murky legal water to get themselves into. There is a coin that is successfully testing multisig gateways and using fiat bridges with ripple to let them deal with the legal side. Full laumch is weeks away. Then you can trade anything for anything without needing an exchange. If I posted a link it would probably get deleted though Any chance you PM that link? Sounds very interesting. Done, enjoy Me too plz Done, same message as before Can you give me some info about this? Done |
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niothor
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April 17, 2014, 12:04:17 PM |
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Well I'm glad the funeral was postponed for this dead coin. Hopefully slow and steady rise this time. Sincerely I haven't seen yet a dead pos coin. A truly dead coin with no one suing it . And bc won't be the first. |
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Degolep
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April 17, 2014, 12:04:41 PM |
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This coin is going as far as the community takes it. But we need to expand across the web and show that we are strong!I watched our subreddit grow by over 100 members today! It's packed with new topics. There are merchants asking how to accept BC and new users asking how to buy it... AND THAT'S JUST TODAY! WE NEED TO BE THERE. SUB HERE: http://www.reddit.com/r/blackcoinIf you're not into Reddit, don't worry! It's very easy to get yourself started. Reddit is anonymous in nature, you don't even need an email address to create an account! |
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Gazza1
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April 17, 2014, 12:04:47 PM |
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Attention people. Remove your wall. Blackcoin going past 50k today.
0.00034999 100700.00000000 35.24399300
0.00035000 101052.51720030 35.36838102
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Impossible is a word found only in the dictionary of fools.
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Daedelus
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April 17, 2014, 12:05:21 PM |
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I see 8 people have pm'd me for details on multisig gateways with fiat bridges (anything to anything trading without the exchange). It is heartening to know it isn't just about the price in here I have to go but anyone else intetested, pm me and I'll get back to you later. Thanks guys I too would be interested in taking a look. Can you PM me? Done Pm'd you yesterday but haven't got your PM yet I am working through them now, PM me again in 30 min if I miss you |
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