but even there it's bloody SLOW compared to cash or credit/debit cards, which limits it a TON for retail usage. I doubt that ANY cryptocoin will ever overcome that issue for retail sales, but given the trend towards online sales taking a larger percentage of all sales it leaves a rather LARGE niche for cryptocoins to get a piece of.
You seem to be confusing
transaction time with
confirmation time. Maybe this clarifies things:
Transaction time (the time it takes to process a payment)
Bitcoin: 1-2 sec
Litecoin: 1-2 sec
Credit card: 5-10 sec
Paypal: 3-5 sec
Money arrival time (the time at which the merchant actually receives the money and can spend it)
Bitcoin: 1-2 sec
Litecoin: 1-2 sec
Credit card: several business days
Paypal: several minutes to several weeks (depending on payment method of customer)
Confirmation time (the time at which the merchant can be sure the payment won't be reversed)
Bitcoin: 10 minutes
Litecoin 2½ minutes
Credit card: 6+ months
Paypal: 3+ months
So.. exactly what was the problem with cryptocoins, again?