Quote from: snarlpill on June 05, 2015, 11:07:07 PM

Quote from: nonnakip on June 05, 2015, 09:28:51 PM

Their double-spending policy is idiotic. Double-spending is a feature. They might as well accept "first seen" blocks too. That shows their lack of fundamental understanding of what Bitcoin is about.

The Bitcoin protocol is not about first come first serve. In fact Bitcoin should not give a damn about time. If sh*t like that ever makes it into official Bitcoin protocol, Bitcoin has no future.

Damn nonnakip, that sounds fucked up about double spending. Could you link a good, unbiased article or thread you've seen about it so I could read it? Every time I've looked at the "Bitcoin Discussion" section or other Bitcoin news sites recently all I've seen is people bitching about it both ways and in almost every thread/article. To be honest it just kind of made me avoid all those threads and not want to read about it, especially because there is so much FUD posted about both sides, conspiracies, and tons of shill/newbie accounts posting it. I know it basically stemmed from the block size debate and Gavin mentioning "Bitcoin XT", but I haven't been following it much.

I do not have any links and I did not read any articles. This is my opinion. My experience comes from handling nastyfans transactions using my own custom Bitcoin node since 2012.

The Bitcoin Foundation receives pressure to create a instant pay system. For this reason they encourage organizations to accept unconfirmed payments. THIS IS WRONG! Any organization that accepts payments with less than 6 confirmations do not understand how Bitcoin works and deserve to be ripped off with double-spending tricks.

By using stupid first come first serve logic and transaction coloring Bitcoin XT encourages acceptance of unconfirmed transactions. And by doing this they also are saying double-spenders are evil. THAT IS ALSO WRONG! Even nastyfans was required to double-spend to get funds out.

Bitcoin protocol requires 60 minutes for reliable transaction confirmation. If that is too long for the commercial world then using Bitcoin directly is not for them. There are plenty of business models like BitPay that allow merchants to have immediate confirmations for a service fee.