Quote from: VeritasSapere on October 05, 2015, 09:54:28 PM

Quote from: sidhujag on October 05, 2015, 09:37:28 PM

Quote from: VeritasSapere on October 05, 2015, 09:08:54 PM

Quote from: brg444 on October 05, 2015, 08:58:01 PM

Quote from: sidhujag on October 05, 2015, 08:52:52 PM

Regarding bitcoin not being a settlement system, there is a reason why Satoshi did have 10 minute blocks and I wouldn't want to second guess his motives. If it were designed to be a real-time processing system it would have been designed differently, see Bitshares for an example of using a consensus algorithm that allows for real-time processing with faster block times.

I accept zero confirmation transactions at my brick and mortar store and it works perfectly, people can also use payment processors for instant transactions as well of course. Satoshi did most definitely support larger blocks, and in regards to you saying he envisioned Bitcoin to be a settlement network and not a payment system, I do not think that is the case after all why would the title of the whitepaper be A Peer-to-Peer Electronic Cash System. I think that Bitcoin is both a payment system and a settlement network and much more, we should not restrict its use if we have no good reason to do so. Bitcoin is both a commodity and a currency just like the gold and silver coins of ancient times.

It works perfectly until you get cheated out of your money by someone attacking you. Are you oblivious to the current controversy over transaction malleability and the problem zero-confirmation transactions entail?

Of course pretending 0-conf transactions "work perfectly" in your store is equivalent to saying one can cross the road blindfolded and not die. If you attempt it once or twice a week (which I'm certain is the case with your "Bitcoin business") it might be true but numerous repeated attempts could result in serious head trauma.

Quote from: VeritasSapere on October 05, 2015, 09:54:28 PM

Satoshi did most definitely support larger blocks

Everytime you pull out Satoshi's name to support your position it necessarily undermines most of your argument.

Quote from: VeritasSapere on October 05, 2015, 09:54:28 PM

A Peer-to-Peer Electronic Cash System

Bitcoin is that and this function does not have anything to do with transaction throughput.