Quote from: Rockford99 on October 12, 2012, 06:38:21 PM

credited/debited?

In my opinion, there are two impediments that are slowing BTC's adoption. As we all know, coins can be sent frictionlessly across borders. However, it takes an average of 10 minutes for them to show up. If we want more transactions to occur, don't we need to have a way for the BTCs to swipe "immediately?" If so, then we have to rely on some sort of trusted third party like Mt.Gox that issues it's own code and keeps reserves from both counterparties that it immediately honors.

I've been away for a while so pardon me if I touch on a redundant subject, but does anyone have any insight for how to speed up verification?

My guess is that once trusted third parties that offer immediate clearing arise and smart phones that (unlike the evil swine at Apple) allow BTC apps, then BTC is off to the races and gains wide acceptance. My prediction: third parties will issue BTC backed parallel currency that will transact immediately and people keep small amounts of their BTC deposited as escrow at those third parties.

FTFY

Note, if the receiver is willing to accept a very small risk for very small payments, they can consider the transaction complete as soon as they see the 0-confirmation transaction relayed through the network. They don't have to wait for confirmations.