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Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
by
buddhamangler
on 19/02/2015, 22:26:13 UTC
You don't know what you are talking about.  Faster blocks doesn't mean anything.  If bitcoin forked to 1 minute block times, then a transaction with 10 confirmations would be just as secure as one with one confirmation how it is now.  It's not the number of confirmations, its TIME.

That's not true. Each block race is a discrete event, so the chance of a specific miner beating the world to a set of, say, six blocks in a row should be roughly the same regardless of the time between blocks. Difficulty might change the curve a little, but, for the most part, it's the chance of winning a set of races cumulatively that matters.

This is wrong 100%.  The hash power needed to race the network is the same in both cases.  The thing that secures the network is TIME, the block time is merely chosen as a number that minimizes forks and allows for propogation, that's it.