Re: [ANN] ION [ION] | ICO LIVE | PoS 3.0 | Mobile Gaming | Join the ionomy today!
Bitcoin is fast enough...... for buying a cup of coffee absolutely not.
On day 1 if Bitcoin had the speed of confirmation that coins like ION have today. Do you think BTC adoption would be more or the same as today's level of adoption
?
On day 1 if Bitcoin had the speed of confirmation that coins like ION have today. Do you think BTC adoption would be more or the same as today's level of adoption
? It's been already explained to you how it is possible to have instantaneous transactions for a cup of coffee. You don't need confirmations for micro transactions as long as you know what you're doing.
That's not to say that faster transactions are not useful (thus Lightning, Casper, etc) but you two whales are completely missing the point with this one. ION doesn't offer any use case for its "fast" transactions, and all known future plans evolve around off-chain features anyway (electrons and stuff).
Let's revisit this when you can actually buy a cup of coffee with ION and let's see then what affects adoption.
I'm not...... transactions are instantaneous whereas confirmations take time to prevent double spending
Buy something like a coffee isn't an issue as the vendor already factors in stuff like credit card fraud and theft into the price. Accepting Bitcoin the risk of theft and fraud doesn't go away but it's much reduced to almost zero. For the vendor taking payment in crypto = a better option than credit/debit card
The problem is a 6 block confirmation just adds another layer of complexity hence the slow adoption