BTC transfer are too damn slow!

[DannyHamilton]

Are you kidding? A transfer takes less than a second...

I'm gonna need about 10 minutes to confirm your post.

...And give me 0.0001 BTC, too.

He said transfers not confirmations. There's a huge difference....

If you can name a place that gives you goods and services before your payment is confirmed, please let me know so I can begin scamming them for being dumb.

I personally do many exchanges without waiting for confirmations.  It all depends on the trust relationship between the sender and the receiver.  If I know where you live, and/or where you work, and/or who many of your friends or family are, I'll happily sell you stuff in exchange for 0 confirmation bitcoin transactions.  If you scam me, I WILL come collect what is mine.

[bitcool]

this problem becomes painfully clear when there's a breaking news coming out, when I need to transfer coins to an exchange and sell, after all my LTCs had been sold my BTCs were still waiting for confirmations. This happened several times.

The altcoin naysayers would tell you that 6 confirmations of LTC is less secure than 6 BTC confirmations, the fact of the matter is, on virtually all exchanges, depositing LTC is much faster than BTC. That's a fact.


 

[superresistant]

Are you kidding? A transfer takes less than a second...

I'm gonna need about 10 minutes to confirm your post.
...And give me 0.0001 BTC, too.

He said transfers not confirmations. There's a huge difference....

If you can name a place that gives you goods and services before your payment is confirmed, please let me know so I can begin scamming them for being dumb.

In case you guys don't know, it take 48 hours to confirm a VISA card transaction. It doesn't even confirm on week-end.

Basically everything you buy with a debit/credit card let you buy before the confirmation of transaction.

[dancupid]

10 minute per confirm is too long when exchanges require 3-6+

It has nothing to do with patience, but everything to do with time is money.

Paypal takes 6 months to confirm as do credit cards - they can reverse the payment anytime up to 6 months later (hence exchanges don't accept paypal or credit cards)
A bank transfer is not instant.

Your complaint is that exchanges are not willing to accept immediate transfer of funds of Bitcoins even though it's vastly quicker than every other mechanism?

[kwukduck]

Stop feeding the troll...
None of you guys noticed OP's signature?
He's just an altcoin-shill..

[dancupid]

Are you kidding? A transfer takes less than a second...

I'm gonna need about 10 minutes to confirm your post.

...And give me 0.0001 BTC, too.

He said transfers not confirmations. There's a huge difference....

If you can name a place that gives you goods and services before your payment is confirmed, please let me know so I can begin scamming them for being dumb.

www.humblebundle.com using coinbase.
Good luck with your scamming.

[CoinDiver]

this problem becomes painfully clear when there's a breaking news coming out, when I need to transfer coins to an exchange and sell, after all my LTCs had been sold my BTCs were still waiting for confirmations.

And you don't think EVEYONE else using those coins has the same problem? If it was faster, you'd be just as far behind.

[dancupid]

this problem becomes painfully clear when there's a breaking news coming out, when I need to transfer coins to an exchange and sell, after all my LTCs had been sold my BTCs were still waiting for confirmations. This happened several times.

The altcoin naysayers would tell you that 6 confirmations of LTC is less secure than 6 BTC confirmations, the fact of the matter is, on virtually all exchanges, depositing LTC is much faster than BTC. That's a fact.


 

So why are you selling your LTC if they are so marvelous?

[BitcoinBobbeh]

Are you kidding? A transfer takes less than a second...

I'm gonna need about 10 minutes to confirm your post.
...And give me 0.0001 BTC, too.

He said transfers not confirmations. There's a huge difference....

If you can name a place that gives you goods and services before your payment is confirmed, please let me know so I can begin scamming them for being dumb.

In case you guys don't know, it take 48 hours to confirm a VISA card transaction. It doesn't even confirm on week-end.

Basically everything you buy with a debit/credit card let you buy before the confirmation of transaction.

Are you kidding? A transfer takes less than a second...

I'm gonna need about 10 minutes to confirm your post.

...And give me 0.0001 BTC, too.

He said transfers not confirmations. There's a huge difference....

If you can name a place that gives you goods and services before your payment is confirmed, please let me know so I can begin scamming them for being dumb.

www.humblebundle.com using coinbase.
Good luck with your scamming.

These posts neglect the fact that if you're using Coinbase/VISA, your identity is already registered with these entities. If you try to fleece them you get got.

If I walked into a cafe where nobody knows me, got a coffee, and sent some BTC using a personal wallet - don't you think the owner would want to wait for confirmation before letting me leave? Wouldn't I have to wait at the door for 10 minutes awkwardly holding my coffee?

That's the point I'm trying to make.

[Dogtanian]

Stop feeding the troll...
None of you guys noticed OP's signature?
He's just an altcoin-shill..

The link in his sig doesn't even work lol.

[superresistant]

OP, how is does your anus feel after the BlackCoin crash ?

Isn't it too damn painful ?

Do you regret not having Bitcoins instead ?

[dancupid]

These posts neglect the fact that if you're using Coinbase/VISA, your identity is already registered with these entities. If you try to fleece them you get got.

If I walked into a cafe where nobody knows me, got a coffee, and sent some BTC using a personal wallet - don't you think the owner would want to wait for confirmation before letting me leave? Wouldn't I have to wait at the door for 10 minutes awkwardly holding my coffee?

That's the point I'm trying to make.

You don't need to register with coinbase - they just provide the checkout service. You can send Bitcoins from any wallet.

[DannyHamilton]

If I walked into a cafe where nobody knows me, got a coffee, and sent some BTC using a personal wallet - don't you think the owner would want to wait for confirmation before letting me leave? Wouldn't I have to wait at the door for 10 minutes awkwardly holding my coffee?

That's the point I'm trying to make.

If it was my cafe?  No.

But I'd have a security camera, and a log of fraudulent transactions with timestamps.  I'd refuse service to you, and possibly press charges against you for fraud/theft if you ever returned to my shop.

[cr1776]

...
If I walked into a cafe where nobody knows me, got a coffee, and sent some BTC using a personal wallet - don't you think the owner would want to wait for confirmation before letting me leave? Wouldn't I have to wait at the door for 10 minutes awkwardly holding my coffee?

That's the point I'm trying to make.

No. 

Once a transaction is in the network (less than a few seconds - usually less than a second it will have reached a vast majority of the network, if not all of it), with a fee and no other problems, it will confirm and a double spend would be rejected by the majority (or all) of the network. Plus the cafe operator would likely be informed of the attempted double-spend.  And for a cup of coffee, the cost of a double spend (if even possible) and other attacks would far out-weigh the reward.

The repeated "bitcoin transfers are too slow" comments are from people who either are uninformed about the bitcoin network or are purposefully trolling.  There are hundreds of threads discussing why this is a misconception.  (Plus as others have said, there would likely be video evidence of who you are in the store so if you tried to steal the coffee, the police would get involved).

[BitcoinBobbeh]

...
If I walked into a cafe where nobody knows me, got a coffee, and sent some BTC using a personal wallet - don't you think the owner would want to wait for confirmation before letting me leave? Wouldn't I have to wait at the door for 10 minutes awkwardly holding my coffee?

That's the point I'm trying to make.

No. 

Once a transaction is in the network (less than a few seconds - usually less than a second it will have reached a vast majority of the network, if not all of it), with a fee and no other problems, it will confirm and a double spend would be rejected by the majority (or all) of the network. Plus the cafe operator would likely be informed of the attempted double-spend.  And for a cup of coffee, the cost of a double spend (if even possible) and other attacks would far out-weigh the reward.

The repeated "bitcoin transfers are too slow" comments are from people who either are uninformed about the bitcoin network or are purposefully trolling.  There are hundreds of threads discussing why this is a misconception.  (Plus as others have said, there would likely be video evidence of who you are in the store so if you tried to steal the coffee, the police would get involved).

There go my hopes of becoming a coffee bandit.

[bitcool]

this problem becomes painfully clear when there's a breaking news coming out, when I need to transfer coins to an exchange and sell, after all my LTCs had been sold my BTCs were still waiting for confirmations. This happened several times.

The altcoin naysayers would tell you that 6 confirmations of LTC is less secure than 6 BTC confirmations, the fact of the matter is, on virtually all exchanges, depositing LTC is much faster than BTC. That's a fact.

So why are you selling your LTC if they are so marvelous?

lol, it's called trade.
I sell, I buy.
I sell because I want to buy them back later.

[Gazza1]

10 minute per confirm is too long when exchanges require 3-6+

It has nothing to do with patience, but everything to do with time is money.

That's the exchanges fault for making them rules.

Agreed.  But there is still the issue at hand.  There are other coins that fly past confirms very very fast.

[Gazza1]

this problem becomes painfully clear when there's a breaking news coming out, when I need to transfer coins to an exchange and sell, after all my LTCs had been sold my BTCs were still waiting for confirmations. This happened several times.

The altcoin naysayers would tell you that 6 confirmations of LTC is less secure than 6 BTC confirmations, the fact of the matter is, on virtually all exchanges, depositing LTC is much faster than BTC. That's a fact.

So why are you selling your LTC if they are so marvelous?

lol, it's called trade.
I sell, I buy.
I sell because I want to buy them back later.

Yes, exactly

[Dogtanian]

OP, how is does your anus feel after the BlackCoin crash ?

Isn't it too damn painful ?

Do you regret not having Bitcoins instead ?

Lol. Don't tempt fate or BTC might come crashing down for whatever reason.

[Gazza1]