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FWIW, the 6 confirmations figure came from a modest estimate of a miner
with 10% of the hash rate, such that there is < 0.1% probability of the
transaction being undone.
I wonder at times if this figure should fluctuate with the hashrate of
the lar
ot;
> To: "Vincent Truong"
> Cc: bitcoin-dev@lists.linuxfoundation.org
> Subject: Re: [bitcoin-dev] Bitcoin, Perceptions, and Expectations
>
>
> Validated - (seen on network)
>
> Settled/Cleared - 1 conf
>
> Finalised - 6 confs
>
___
Validated - (seen on network)
Settled/Cleared - 1 conf
Finalised - 6 confs
On Sat, 2015-07-25 at 00:37 +1000, Vincent Truong via bitcoin-dev wrote:
>
> "Fast transactions"
> Fast transactions implies it is slower than Visa, and Visa is
> 'instant' by comparison from the spender's POV. Bitcoin
"Fast transactions"
Fast transactions implies it is slower than Visa, and Visa is 'instant' by
comparison from the spender's POV. Bitcoin is still very instant because
wallets still send notifications/pings when transactions are first seen,
not when it goes into a block. We shouldn't mislead people
Well, I think "fast international transactions" is still true. An hour is
pretty fast when you compare it with several days. But yeah, "free" and
"instant" are misleading words.
Low fees may be ok. One thing that is not mentioned often is that the fact
that the system is p2p is what makes transacti
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> There is now a pull request to remove mention of "zero or low
> fees", "fast international payments", and "instant peer-to-peer
> transactions" from bitcoin.org. For those non-technical users who
> do not read source code, this may come across as t
There is now a pull request to remove mention of "zero or low fees", "fast
international payments", and "instant peer-to-peer transactions" from
bitcoin.org. For those non-technical users who do not read source code,
this may come across as the breaking of the social contract on what Bitcoin
i
