Quote from: QuintLeo on August 07, 2015, 07:18:35 PM

Interesting in theory, but try DOING that with an actual Bitcoin client. I've yet to see one that will let you spend Bitcoin from unconfirmed transactions, and IME they generally require multiple confirmations before they allow you to then move that Bitcoin on down the line.

I think you've been using old or uncommon clients or wallets apps then.

There's absolutely nothing theoretical about this. Both Mycelium and Breadwallet, the two most popular (and best, imho) wallets on Android and iOS, allow you to spend unconfirmed input immediately. I know some other clients do require a confirmation before letting you spend it, but that's purely an arbitrary limitation within that client, and has nothing to do with Bitcoin itself. Again, there's nothing theoretical about this, I do it all the time. It works fine. I receive coins, and send some of them to another address immediately, without waiting for any confirmations, and without requiring any fancy strange specialized apps or tweaking the settings or whatever.

Forcing you to even wait for multiple confirmations is totally ridiculous. Any app that does that should be ditched immediately. Why the heck would you want to use an app that imposes all sorts of unnecessary restrictions on you.

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Nope, it's experience. I do grant that it's less likely to take that long on Lightcoin.

Again, I think you have been using old or uncommon wallets. If they force you to await multiple confirmations (for no apparent reason even), then yeah sure it might take longer. But that's completely unnecessary.

I did the maths for you, the probability of having to wait an hour for a confirmation is extremely small, having to wait two hours is astronomically small.

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Which is different from a chargeback. On a chargeback, the transaction WAS confirmed, then later the CC issuer was told to reverse it due to some reason - non-delivery of goods or fraud being probably the most common issues leading to a chargeback.

Semantics. You get my point. With credit cards and paypal, there is no such thing as a confirmation. There is a notification of receiving a payment, which is the equivalent of receiving a Bitcoin transaction (nothing confirmed yet). This is a matter of seconds. Then there is a certain period of uncertainty, where you will probably end up receiving the money, but it might also be cancelled or nullified or reversed (no matter what you call it, you end up without the money). You don't know until it's, well, 'set in stone' so to speak. With Bitcoin, this is 10 minutes on average. With paypal and credit card, this is 3-6 months on average.