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Author Topic: Faster coin Myth put to bed once and for all  (Read 488 times)
jubalix
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February 21, 2014, 10:19:03 AM
 #1

Coin X is faster confirms....than coin Y


NO IT IS NOT.

Confirms are only a measure of security, a very fast times needs many more confirms that a slower coin to reach the same security. Because its easier to fork the block chain

If you watch a BTC transacion you will see a notification that something is coming alms straight away, but after that you wait for confirms.

If you don't believe me, look at the exchanges and see how faster coins often require more confirms, that because they are less secure.

This is true for all Satsohi code base coins out there!!! unless you do some sort of really spiffy latency alto stuff Like carmack did with quake.

as a forumla


security = time  *  speed of confirms * 1/speed of confirms  = time * 1 = time.
 

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February 21, 2014, 12:31:51 PM
 #2

Quote
Coin X is faster confirms....than coin Y


NO IT IS NOT.

Confirms are only a measure of security

Well that put that to bed once and for all. 


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minerfool
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February 21, 2014, 06:39:44 PM
 #3

you're saying one thing and arguing a different.

faster confirm times mean just that ... faster confirm times.

Just be honest Bitcoin is slow in the current landscape of coins.

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February 21, 2014, 07:32:58 PM
 #4

faster confirm times mean just that ... faster confirm times.

At the cost of security.

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February 21, 2014, 08:07:23 PM
 #5

if you do micro payments, wouldn't be is wise to have less security due to the lesser cost of loss. If a attack would happen there ?


Unconfirmed transactions would be fine in that example.

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February 21, 2014, 08:56:22 PM
 #6

Coin X is faster confirms....than coin Y


NO IT IS NOT.


faster confirms gives you the option as payment provider to accept lower confirm rates for faster transfer.

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